MHO: Company Endorser vs. Spokeperson

I read a research piece that research on the effectiveness of company name and company spoke-person on purchase intention- which one is more effective. The research concluded that company name can help to burnish the name of the product and increase purchase intention of consumers espeically when it coupled with spokepersons' effect. However, I disagree, because it depends on 'what type of company'; it is obviously true if you speak of P&G, but not true for small company...