註釋 This paper brings financial meaning to abnormal stock returns via the marketing discipline as an indicator of the severity of a product recall. It proposes and empirically tests whether adjustments to post-recall advertising spending strategy can be used as an effective tool to moderate a firm's future sales decline due to a product recall event. The author takes a further step by exploring where the firm's advertising money should be invested - focal brand, non-focal brand or institutional brand - to determine which advertising spending type is most effective. Moreover, this dissertation also tests whether a firm should increase its advertising spending based on the nature of competitor advertising spending reactions to the product recall event. Findings of this research show that a firm should avoid investing money on non-focal brands when a recall is due to a major problem. Accordingly, firms should emphasize advertising spending on institutional advertising in order to mitigate the effects of major product recalls on firms' future sales performance. 