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Sponsorship and shareholder value: A re-examination and extension

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  • Deitz, George D.
  • Evans, Robert D.
  • Hansen, John D.

Abstract

A stream of studies investigates shareholder wealth effects of marketing investments into sport sponsorship properties. While research generally upholds a positive relationship between sponsorship agreements and shareholder wealth, the relationship remains unclear for several sponsorship categories. With more specific attention to research design issues, this paper replicates and extends prior research in two of these areas: official product and Olympic sponsorship announcements. This paper notes that inclusion of observations with potentially confounding events materially affects results reported by the original authors. The first study identifies a significant positive shareholder wealth effect associated with initial official product sponsorship announcement but not for renewal of such announcements. The second study resolves conflicting views from prior research regarding Olympic sponsorships. Although a negative overall relationship exists for sponsors of the 1996 Atlanta Olympics, the market's negative view of costly, top-tier global sponsorships largely drives this result.

Suggested Citation

  • Deitz, George D. & Evans, Robert D. & Hansen, John D., 2013. "Sponsorship and shareholder value: A re-examination and extension," Journal of Business Research, Elsevier, vol. 66(9), pages 1427-1435.
    • Handle: RePEc:eee:jbrese:v:66:y:2013:i:9:p:1427-1435
    DOI: 10.1016/j.jbusres.2012.05.010
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    References listed on IDEAS

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    Cited by:

    1. Iuliia Naidenova & Petr Parshakov & Alexey Chmykhov, 2014. "Soccer Sponsor: Fan Or Businessman?," HSE Working papers WP BRP 28/FE/2014, National Research University Higher School of Economics.
    2. Eshghi, Kamran, 2022. "Are sports sponsorship announcements good news for shareholders? A meta-analysis," International Journal of Research in Marketing, Elsevier, vol. 39(1), pages 268-287.
    3. Yuki Suenaga & Fumiko Takeda, 2021. "The Impact of Postponing the Olympics on Stock Markets," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 27(3), pages 219-232, August.
    4. T. Bettina Cornwell & Youngbum Kwon, 2020. "Sponsorship-linked marketing: research surpluses and shortages," Journal of the Academy of Marketing Science, Springer, vol. 48(4), pages 607-629, July.
    5. Parshakov, Petr & Naidenova, Iuliia & Barajas, Angel, 2020. "Spillover effect in promotion: Evidence from video game publishers and eSports tournaments," Journal of Business Research, Elsevier, vol. 118(C), pages 262-270.

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