Soccer Sponsor: Fan Or Businessman?

Iuliia Naidenova, Petr Parshakov and Alexey Chmykhov ()
Additional contact information
Alexey Chmykhov: National Research University Higher School of Economics

HSE Working papers from National Research University Higher School of Economics

Abstract: This paper investigates how soccer sponsorship influences the financial performance of sponsors. We use an instrumental variable regression framework combined with a fixed effects model to avoid the possible endogeneity raised by omitted variables and reverse causality. The number of tweets containing both team and sponsor names were collected to use as the instrumental variable. Top European leagues were analyzed. Our results show that soccer sponsorship is more charity than commercial investment. Shareholders should be aware of sponsorship deals, and senior management should analyze the financial assumptions of cash flow forecasting for such projects carefully.

Keywords: soccer; sponsorship; instrumental variable; twitter (search for similar items in EconPapers)
JEL-codes: L83 O16 (search for similar items in EconPapers)
Pages: 13 pages
Date: 2014
New Economics Papers: this item is included in nep-spo
References: View references in EconPapers View complete reference list from CitEc
Citations:

Published in WP BRP Series: Financial Economics / FE, March 2014, pages - 13

Downloads: (external link)
http://www.hse.ru/data/2014/03/03/1330161003/28FE2014.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hig:wpaper:28/fe/2014

Access Statistics for this paper

More papers in HSE Working papers from National Research University Higher School of Economics
Bibliographic data for series maintained by Shamil Abdulaev () and Shamil Abdulaev ().