Abstract: This study investigates whether the negative effect of celebrity will be transferred to the endorsing brand. By using the event study method, through a sample of 44 Chinese listed companies whose endorsing celebrities had negative information, we test the cumulative abnormal return in different intervals. This study finds that, in the overall China market, celebrity negative information did not lead to significant cumulative abnormal return. This conclusion has good help to understand why it is so popular to use celebrity endorsement advertisements in China, and it is also helpful to develop the management policy for marketing advertising.