The influence of marketing expenditures on firm value: The case of European and American FMCG companies

Abstract

Aim of the research is to identify the influence of marketing expenditures on a firm value. Considering the fact that marketing activities are really important in FMCG sector, then analysis of American and European FMCG companies, finding the difference in marketing expenditures impact on a firm value among them is essential. The research objectives are: Identify the role of marketing expenditures for a firm value o Analyze existing models of marketing expenditures impact assessment on a firm value o Analyze the impact of marketing expenditures on a firm value; Make conclusions over received results and propose future research implications Research results: Expenditures on Marketing have almost equal impact on a firm value in cases of American and European companies; Selling, General and Administrative expenditures appeared to have more impact on a firm value in case of American FMCG companies; Sales growth appeared to have almost no impact on a firm value in case of European FMCG companies, opposite to American ones.