The impact of title event sponsorship announcements on shareholder wealth

Abstract

Sponsorship, Title, Marketing, Finance, Sport, Event study,

¿La transparencia de las páginas web ayudan en la captación de clientes? Análisis de los campos de golf en Andalucía

“…La bibliografía sobre todo refleja información sobre esponsorización de torneos de golf (Clark, Cornwell & Pruitt, 2009;Berger et al, 2005). Para avanzar en la transparencia, el club debe poner a disposición pública la información económica y que, no sólo sea de régimen interno del club, al igual que lo exponen las empresas del Ibex 35 puesto que ningún club ha expuesto información sobre su actividad financiera, o el volumen de servicios que puedan llegar a ofrecer durante un año, o estrategias sobre como es la captación de clientes, etc.…”

Celebrity endorsers' performance on the “ground” and on the “floor”

“…Many companies rely on high-profile sports events to enhance their brand awareness through sponsorship initiatives (Farrell and Frame, 1997;Miyazaki and Morgan, 2001;Cornwell et al, 2001;Clark et al, 2009): firms provide financial support to the sports event or sports team and the firm's brand appears during the event. The literature on the topic finds a general positive effect on the endorsing firm's market value (Agrawal and Kamakura, 1995;Mathur et al, 1997), with some exceptions, such as the results of Ding et al (2011), which stress the fact that the expenses incurred may offset the benefits derived from the endorsement strategy.…”

The Effect of Sponsorship Announcements on Stock Returns: Does Industry Concentration Matter?

“…Accordingly, investors follow and are influenced by marketing related factors (Bharadwaj, Tuli, & Bonfrer, 2011). Hence there is a stream of research (Clark et al, 2009;Cornwell, Roy, & Steinard, 2001;Filis & Spais, 2012;Mazodier & Rezaee, 2013;George S Spais & Filis, 2008;Tripodi & Hirons, 2009) focusing on whether sponsorship increases stock prices.…”

“…awareness, image). Hence, one of the main topics in sponsorship literature has been the linkage between sponsorship and stock returns (Clark, Cornwell, & Pruitt, 2009;Cornwell, Pruitt, & Clark, 2005;Khvastunov, 2011;Mazodier & Rezaee, 2013; George S Spais & Filis, 2008; George S. Spais & Johnston, 2014). However, previous studies provided conflicted results indicating that the effects on stock returns caused by sponsorships are not same for all sponsorship deals and sensitive to firm and event characteristics.…”