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.

Management Slant

  • Market reactions to sports sponsorship announcements are significantly positive for sponsors, whereas those for rivals are significantly negative in Japan from 1999 to 2010.
  • Both sponsors and rivals experience increased...
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