Kim, TaewooChoi, HyunsukSong, ChanhoLee, Myong Jae2019-02-192019-02-192019-02-19http://hdl.handle.net/10919/87722This study examines the impact of advertising to determine whether advertising expenditure after economic shocks is associated with hospitality firm performance. Using the ordinary least squares (OLS) regression models for the earnings response coefficient study, we found that firm performance was positively related to hospitality firms that spent more on advertising immediately after a global financial crisis.application/pdfen-USCreative Commons Attribution 4.0 Internationaladvertisingeconomic shocksearnings response coefficientSummary