Do sport sponsorship announcements help or hurt rival sponsors’ market values? Comparing stock returns of sport sponsors and their rivals in the United States and Japan
This study compares the effect of sports sponsorship announcements on the stock returns of sponsors and their rivals between Japan and the United States.
- Market reactions to sports sponsorship announcements are significantly positive
for sponsors, whereas those for rivals are significantly negative in Japan from 1999
- Both sponsors and rivals experience increased...