Market reactions to sport sponsorship announcements: Comparison between sponsors and their rivals

Yuta Hino and Fumiko Takeda

Sport Management Review, 2020, vol. 23, issue 3, 401-413

Abstract: In this study, the authors investigate the impact of sport sponsorship announcements on the stock prices of sponsors and their rivals in Japan. The event study analyses show that while market reactions for Japanese sponsors are significantly positive, those for rivals are significantly negative. Thus, in Japan, sponsorships might help sponsors build a competitive advantage over their rivals. During 2010–2014, market reactions for sponsors are significantly more negative but less so when the sponsored party is Japanese.

Keywords: Sport sponsorship; Event study; Stock prices; Ambush marketing (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:spomar:v:23:y:2020:i:3:p:401-413

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DOI: 10.1016/j.smr.2019.02.002

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