TY - JOUR
T1 - Market reactions to sport sponsorship announcements
T2 - Comparison between sponsors and their rivals
AU - Hino, Yuta
AU - Takeda, Fumiko
N1 - Funding Information:
We would like to thank the editors, anonymous reviewers, Ihsan Badshah, Markus Breuer, GabrielA. Giménez Roche, and other participants at the ICS Faculty Seminar at Hitotsubashi University, the 2016 Vietnam Symposium in Banking and Finance, the 13th International Conference of the Western Economics Association International, and the 85th Conference of the International Atlantic Economic Association for their helpful comments and suggestions. We are also grateful to Editage (www.editage.jp) for English language editing. This research did not receive any specific grant from funding agencies in the public, commercial, or not-for-profit sectors. All remaining errors are our own.
Publisher Copyright:
© 2019 Sport Management Association of Australia and New Zealand
PY - 2020/6
Y1 - 2020/6
N2 - 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.
AB - 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.
KW - Ambush marketing
KW - Event study
KW - Sport sponsorship
KW - Stock prices
UR - http://www.scopus.com/inward/record.url?scp=85062031565&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=85062031565&partnerID=8YFLogxK
U2 - 10.1016/j.smr.2019.02.002
DO - 10.1016/j.smr.2019.02.002
M3 - Article
AN - SCOPUS:85062031565
SN - 1441-3523
VL - 23
SP - 401
EP - 413
JO - Sport Management Review
JF - Sport Management Review
IS - 3
ER -