RT Journal Article
SR Electronic
T1 Do Sport Sponsorship Announcements Help Or Hurt Rival Sponsors’ Market Values?
JF Journal of Advertising Research
JO J Advert Res
FD WARC
SP 167
OP 176
DO 10.2501/JAR-2022-007
VO 62
IS 2
A1 Takeda, Fumiko
YR 2022
UL http://www.journalofadvertisingresearch.com/content/62/2/167.abstract
AB This study compares the effect of sports sponsorship announcements on the stock returns of sponsors and their rivals between Japan and the United States. Event study analyses reveal that, whereas stock market reactions for Japanese sponsors were significantly positive during 1999–2010, those for their rivals were significantly negative. In the United States, however, both sponsors and rivals experienced increased market value. Sports sponsorships thus might be useful for sponsors to establish a competitive advantage over rivals in Japan, but not in the United States.