The NASCAR phenomenon: auto racing sponsorships and shareholder wealth

This study presents the first analysis of the impact of NASCAR sponsorship announcements on the stock prices of sponsoring firms.

The NASCAR Phenomenon: Auto Racing Sponsorships and Shareholder Wealth

Stephen W. Pruitt University of Missouri—Kansas City

T. Bettina Cornwell University of Queensland

John M. Clark University of Southern

Authors are grateful to Max Muhleman, president of IMG/Muhleman Marketing, JAR editor Joseph Plummer, and two anonymous referees for helpful comments.

“When a sponsor spends money, they want a return on their investment.”

Bill King, Sports Business Journal

BORN IN 1948 of the most humble circumstances, the National Association for Stock Car Auto Racing (now known simply as NASCAR), through careful attention to both its fan base and...

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