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Assessing the short-term and long-te...

Shi, Lei.

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Assessing the short-term and long-term economic effects of corporate partnerships with major sports organizations.

紀錄類型:	書目-語言資料,印刷品 : Monograph/item
正題名/作者:	Assessing the short-term and long-term economic effects of corporate partnerships with major sports organizations./
作者:	Shi, Lei.
面頁冊數:	134 p.
附註:	Adviser: Jay Shivers.
Contained By:	Dissertation Abstracts International67-06A.
標題:	Business Administration, Marketing. -
電子資源:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3221570
ISBN:	9780542743238

Assessing the short-term and long-term economic effects of corporate partnerships with major sports organizations.
Shi, Lei.

Assessing the short-term and long-term economic effects of corporate partnerships with major sports organizations. - 134 p.

Adviser: Jay Shivers.

Thesis (Ph.D.)--University of Connecticut, 2006.

While corporate partnerships with major sports organizations are growing at an increasing rate, marketers have had difficulty in assessing the value of such partnerships. The current study addresses this valuation dilemma by employing event study analysis. Using stock return data, I examine the economic effects of corporate partnerships with six major sports organizations (NFL, MLB, NBA, NASCAR, NHL, PGA) via changes in the partnering firm's value, measured by cumulative abnormal returns. It is found that on average, the partnering firm experiences a net-of-market increase of shareholders' value of 0.93% from the new announcement of a corporate partnership with a major sports organization from the announcement day to the first trading day, but my results also indicate that, on average, the firm that announces the renewal of a corporate partnership with a major sport organization, experiences a net-of-market decrease of 1.85% from the announcement day to the first trading day. Furthermore, results also indicate that the long-term effects linked to partnership announcements are consistently positive and significant in both the one-year and three-year horizon. Using cross-sectional regression framework, this research further explores the associations of the cumulative abnormal returns with the event-related characteristics, firm specific financial characteristics and firm's ownership structures. Theoretical and practical implications are presented.

ISBN: 9780542743238Subjects--Topical Terms:

1017573
Business Administration, Marketing.

Assessing the short-term and long-term economic effects of corporate partnerships with major sports organizations.
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520 $a While corporate partnerships with major sports organizations are growing at an increasing rate, marketers have had difficulty in assessing the value of such partnerships. The current study addresses this valuation dilemma by employing event study analysis. Using stock return data, I examine the economic effects of corporate partnerships with six major sports organizations (NFL, MLB, NBA, NASCAR, NHL, PGA) via changes in the partnering firm's value, measured by cumulative abnormal returns. It is found that on average, the partnering firm experiences a net-of-market increase of shareholders' value of 0.93% from the new announcement of a corporate partnership with a major sports organization from the announcement day to the first trading day, but my results also indicate that, on average, the firm that announces the renewal of a corporate partnership with a major sport organization, experiences a net-of-market decrease of 1.85% from the announcement day to the first trading day. Furthermore, results also indicate that the long-term effects linked to partnership announcements are consistently positive and significant in both the one-year and three-year horizon. Using cross-sectional regression framework, this research further explores the associations of the cumulative abnormal returns with the event-related characteristics, firm specific financial characteristics and firm's ownership structures. Theoretical and practical implications are presented.
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