| 초록 |
The purpose of this study is to evaluate the economic impacts of regional brand advertising through television. This article deals with estimation and testing of three type of different distributed lag models such as finite distributed lag model, polynomial distributed lag model, and exponential distributed lag model with an example given of sales and advertising data for a watermelon produced in the Ham-An area in Korea. The results indicated that exponential distributed lag model more general than the frequently employed finite distributed lag model and polynomial distributed lag model is shown to be consistent with the evidence. The evidence leads to the conclusion that the major effect of TV advertising on sales rapidly declines after two months even if the carryover effect of television advertising on sales lasts for four months. In addition, an estimated benefit-cost ratio was 26.1 indicating that every won invested into TV advertising cost returned ₩26.1 back in terms of agricultural income.
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