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Qi Ge and Brad R. Humphreys

face similar risks ( Hock & Raithel, 2020 ; Knittel & Stango, 2014 ). Ge and Humphreys ( 2020 ) showed that a wide variety of off-field misbehavior, in the form of various types of criminal activity, reduced the stock price of companies that sponsored teams employing misbehaving players. Other recent

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Thomas W. Doellman, Brian R. Walkup, Adrien Bouchet, and Brian R. Chabowski

attempting to identify the stock price impact. In this study, the event date (i.e.,  t  = 0) is the date of the formal announcement that the sponsoring firm and the club have entered into a sponsorship agreement. By measuring abnormal returns over an event window rather than simply on the event date, we can

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Adrien Bouchet, Thomas W. Doellman, Michael Troilo, and Brian R. Walkup

The effect of sponsorship on the stock market returns of the sponsoring companies has been previously studied, but the internationalizing aspect of sponsorship has been overlooked. We examine returns to shareholders for firms sponsoring international football matches using an event study analysis. We find that there are cumulative abnormal returns to stockholders of sponsoring firms of international matches 10 days after the match and 20 days after the match. This finding is robust across several different event-study methods. We also find this general pattern across different professional football leagues, as well as a positive effect on returns by sponsoring high-profile football clubs. We theorize that the elapsed time until the effect on the stock price is the result of building brand awareness before a shift in the price becomes evident. These findings add nuance to the literature on sponsorship and event studies, which is almost exclusively domestic in character.

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Nicholas M. Watanabe, Stephen Shapiro, and Joris Drayer

predictive qualities. The articles are diverse, including studies on the impact of unexpected outcomes on online reviews, athlete misconduct and sponsor stock prices, consumer demand as it relates to tanking, season ticket holder (STH) attendance, and hotels on gameday, and methodological investigations

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Adrien Bouchet, Thomas W. Doellman, Mike Troilo, and Brian R. Walkup

sponsorship deals) experience a significantly negative marginal impact on their stock price, and this marginal effect is more negative than in the general sample of firms acquiring sponsorship deals. Thus, when drawing conclusions from event studies of sport sponsorship, it is important to consider the effect

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Ellen J. Staurowsky

changed. With the hiring of Dennis Swanson, an executive charged with focusing more on the bottom line and stock prices, ABC Sports no longer competed for events and sports such as the Olympics as rights fees soared to new levels. With the rise of cable sports, ABC Sports faced an internal competitor in

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Kamran Eshghi, Hesam Shahriari, and Sourav Ray

value of all future benefits from an investment is incorporated into stock price upon its announcement (cf. Malkiel & Fama, 1970 ). Investors value such announcements positively if they have the potential to generate cash inflow in the future by driving enhanced brand image and awareness, increased

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Sungho Cho, J. Lucy Lee, June Won, and Jong Kwan (Jake) Lee

dollar on the brand) for either the junior or senior marks. The (actual or hypothetical) stock prices of the senior and junior brands were provided as reference points to prevent information bias. Previous researchers cautioned about information bias (i.e., skewed outcomes because of cognitive

Open access

Kobe C. Houtmeyers, Arne Jaspers, and Pedro Figueiredo

and is occasionally quoted as “garbage in, garbage out.” 17 – 20 , 26 In addition, the amount of training process data that are collected in elite sports is relatively small compared with other “big data” domains, such as finance using the historical data of stock prices or social sciences using

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Jonathan A. Jensen and T. Bettina Cornwell

sponsoring firm’s stock price (e.g., Clark, Cornwell, & Pruitt, 2002 ), but focused solely on the initial announcement of the partnership and were necessarily limited to publicly traded firms. Beyond its importance to both sides of the relationship, investigating the duration of sponsorships introduces a