ABSTRACT
Utilizing a sample of U.S. publicly traded foodservice retailers, this study examines the impact of advertising, goodwill, and intangible assets on investor holding period returns. The results show that neither advertising nor intangible assets have a positive and significant impact on holding period returns. Goodwill, however, does have a positive and significant impact on holding period returns. Foodservice retailers may therefore want to question the effectiveness of growth strategies based on a firm’s own investments in either advertising or intangible assets. Instead, building a foodservice retailing business through mergers and acquisitions may prove a better use of company resources.