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Sports Sponsorship Announcements and Marketing Capability

Kamran Eshghi, Hesam Shahriari, and Sourav Ray

use the market and Fama–French–Carhart four-factor model as the benchmark asset pricing model to estimate market return. Estimating Marketing Capability We use a standard stochastic frontier estimation technique to measure marketing capability ( Dutta et al., 1999 ). This method takes an input