Does Wall Street love sports sponsorship? Stock market reactions to the announcement of global official sponsorships

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Abril Barrie, Carmen and Sánchez Herrera, Joaquín and Recio Naranjo, Teresa (2018) Does Wall Street love sports sponsorship? Stock market reactions to the announcement of global official sponsorships. Journal of Advertising Research, 58 (3). pp. 297-310. ISSN 0021-8499

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Official URL: https://doi.org/10.2501/JAR-2017-016



Abstract

This study aims to analyze the potential ability of sponsorship to create shareholder wealth on the basis of how the announcement of global sports sponsorships affects sponsoring companies' stock market prices.
This study also seeks to illuminate previous research controversies by examining several international sports tournaments in various countries over a 10-year period. The results show that, first, investors' appreciation of sponsorships was positive, although it decreased over the year of the announcement; second, the combination of functional and national congruence produced the highest value; and, third, the stock market did not equally value all sponsorships.


Item Type:Article
Additional Information:

Título en la revista:
"How does wall street react to global sports sponsorship announcements?: An analysis of the effect on sponsoring companies’ stock market prices"

Uncontrolled Keywords:Sponsorship, Sponsor, Ambush marketing
Subjects:Social sciences > Economics > Business enterprises
Social sciences > Economics > Marketing
Social sciences > Economics > Stock exchanges
ID Code:60567
Deposited On:19 May 2020 11:20
Last Modified:20 May 2020 10:34

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