Professional Sports Teams as Advertisements: The Case of Nippon Professional Baseball

Leeds, Michael A.; Sakata, Sumi

doi:10.1007/978-3-319-10037-1_9

Cited by 2 publications

(6 citation statements)

References 6 publications

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“…8. For more on the relationship between teams and their parent companies, see Leeds and Sakata (2014). 9.…”

Section: Resultsmentioning

confidence: 99%

Monopsony Power in the Labor Market of Nippon Professional Baseball

Leeds

2016

Manage Decis Econ

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Although sports teams around the world can no longer use the reserve clause to bind their players forever, teams can still exert considerable monopsony power early in the players' careers. Institutional and cultural factors specific to Nippon Professional Baseball and to Japan suggest that this monopsony power is stronger and longer‐lasting in Japan than in other countries. We use techniques associated with the Oaxaca decomposition to simulate the impact of free agency on the pay of baseball players in Japan who have not yet reached free agency. We find that free agency in Japan has a large impact on pay but that this increase is quite small relative to the impact in Major League Baseball. Copyright © 2016 John Wiley & Sons, Ltd.

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“…8. For more on the relationship between teams and their parent companies, see Leeds and Sakata (2014). 9.…”

Section: Resultsmentioning

confidence: 99%

Monopsony Power in the Labor Market of Nippon Professional Baseball

Leeds

2016

Manage Decis Econ

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“…Recent research examined how on-field performance impacts the stock prices of Asian conglomerates (e.g. Chen and Chen, 2012; Leeds and Sakata, 2015). Notably, within Asia, many of the professional sport leagues emerged from older industrial leagues operated by large corporations, and thus many of the sport franchises in top leagues are owned or affiliated with these companies.…”

Section: Literature Reviewmentioning

confidence: 99%

“…Chen and Chen (2012) found winning championships in the NPB led to significant positive increases in stock price, suggesting highly successful teams are able to improve the value of their parent corporation on the stock market. More recently, Leeds and Sakata (2015) provided evidence an ownership change has only a small long-run impact on the profitability of the corporation.…”

Section: Literature Reviewmentioning

confidence: 99%

“…Blose et al , 1998; Stadtmann, 2006), or off-field events like naming rights, television rights announcements, coaching changes and ownership changes impact the stock price of a sport team or their parent corporation (e.g. Brown and Hartzell, 2001; Chen and Chen, 2012; Leeds et al , 2007; Leeds and Sakata, 2015).…”

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confidence: 99%

“…Within this study, betting data for every CSL match between 2014 and 2017 are used to calculate whether the uncertainty of outcome has a relationship with stock prices of the corporations that own CSL teams. Next, though a number of studies (Chen and Chen, 2012; Coates and Humphreys, 2008; Leeds and Sakata, 2015) examined the stock prices of professional sport teams in Asia, none of them analyze teams from the Chinese mainland. As such, the present research is the first to conduct this type of analysis on Chinese professional sport teams.…”

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confidence: 99%

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Chinese Super League stock prices and team performance

Mao

Soebbing

Watanabe

2020

SBM

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PurposeUtilizing the capital asset pricing model (CAPM), the purpose is to analyze whether the stock prices of the corporation that owns sport teams fluctuate based on team performance in the Chinese Super League (CSL).Design/methodology/approachSeveral CSL teams are publicly owned corporations. As such, the authors look to see if on-field performance impacts the stock price of the firms. Using the news model from previous research, seemingly unrelated regressions are estimated on CSL games from 2014 through 2017.FindingsThe results from the main models indicate some evidence of a statistical relationship between on-field team performance and stock price. Furthermore, the findings for individual teams across markets did not hold consistent across different markets. More specifically, the authors found some instances where successful on-field performance led to a decline in stock prices.Originality/valueThe present study further contributes to the growing literature related to on-field performance and stock prices. Unlike previous research, the use of the CSL as the empirical setting provides the opportunity to use multiple stock markets which provides an opportunity to further examine this relationship. Finally, the study contributes broadly to the literature on professional sports ownership structures around the world.

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Professional Sports Teams as Advertisements: The Case of Nippon Professional Baseball

Cited by 2 publications

References 6 publications

Monopsony Power in the Labor Market of Nippon Professional Baseball

Monopsony Power in the Labor Market of Nippon Professional Baseball

Chinese Super League stock prices and team performance

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