Corporate stadium sponsorships, signalling theory, agency conflicts and shareholder wealth

Contrary to the plethora of critical articles recently appearing in both the popular and business press, this carefully controlled investigation of 49 stadium-and arena-naming-rights agreement announcements provides striking evidence that such sponsorships can significantly enhance the stock prices of sponsoring companies.

Corporate Stadium Sponsorships, Signalling Theory, Agency Conflicts and Shareholder Wealth

John M. ClarkUniversity of Missouri – Kansas CityT. Bettina CornwellUniversity of QueenslandandStephen W. PruittUniversity of Missouri – Kansas City...