Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/73474
Authors: 
Hanke, Michael
Kirchler, Michael
Year of Publication: 
2010
Series/Report no.: 
Working Papers in Economics and Statistics 2010-07
Abstract: 
Corporate sports sponsorship is an important part of many companies' corporate communication strategy. We take the example of major football tournaments to show that sponsorship indeed affects the sponsor's (stock) market value. We find a statistically significant impact of football results (at an individual game level) of the seven most important football nations at European and World Championships on the stock prices of jersey sponsors. In general, the more important a match and the less expected its result, the higher its impact. In addition, we find a form of mere exposure-effect which contradicts the efficient markets hypothesis.
Subjects: 
Sports sponsorship
Advertising
Stock market efficiency
JEL: 
G14
Document Type: 
Working Paper

Files in This Item:
File
Size
165.96 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.