Market reactions to sport sponsorship announcements: Comparison between sponsors and their rivals |
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| Institution: | 1. Department of Movement and Sports Sciences of Ghent University, Watersportlaan 2, 9000, Ghent, Belgium;2. School of Human Kinetics of the University of Ottawa, Montpetit Hall, 125 University, Ottawa, ON, K1N 6N5, Canada;1. Nanyang Technological University, Singapore;2. Fujian Normal University, China;1. University of South Carolina, United States;2. Temple University, United States;3. Virginia Commonwealth University, United States;1. School of Education and Human Performance, Aurora University, 347 S. Gladstone Ave., Aurora, IL 60506-4892;2. School of Journalism and Communication, University of Oregon Allen Hall, Eugene, OR 97403;3. Department of Management, G. Brint Ryan College of Business, University of North Texas, Denton, TX 76203;1. Griffith University, Australia;2. University of Minnesota, United States |
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| Abstract: | In this study, the authors investigate the impact of sport sponsorship announcements on the stock prices of sponsors and their rivals in Japan. The event study analyses show that while market reactions for Japanese sponsors are significantly positive, those for rivals are significantly negative. Thus, in Japan, sponsorships might help sponsors build a competitive advantage over their rivals. During 2010–2014, market reactions for sponsors are significantly more negative but less so when the sponsored party is Japanese. |
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| Keywords: | Sport sponsorship Event study Stock prices Ambush marketing |
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