Companies paying celebrities big money to endorse their products may not realize that negative perceptions about a celebrity are more likely to transfer to an endorsed brand than are positive ones, according to a new University of Colorado Boulder study. Celebrity endorsements are widely used to increase brand visibility and connect brands with celebritiesâ personality traits, but do not always work in the positive manner marketers envision, according to Margaret C. Campbell of CU-Boulderâs Leeds School of Business, who led the study.