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Abstract ▼ AI-Helper

In the field of sports management, the importance of understanding the role of corporate sponsorship has been addressed by a significant mount of relevant research concerning Olympic partnership or corporate sponsorship. The role of corporate sponsorship for the Olympic games has been growing dram...

In the field of sports management, the importance of understanding the role of corporate sponsorship has been addressed by a significant mount of relevant research concerning Olympic partnership or corporate sponsorship. The role of corporate sponsorship for the Olympic games has been growing dramatically due to substantial contribution of corporate sponsorships in staging the events. However, academic research concerning the effects of corporate sponsorship on sports organizations and consumers has been somewhat limited to understanding potential influence of sponsorship companies" promotional activities in terms of consumption behavior and psychological perceptions of consumers. Thus, identifying psychological aspects of potential consumers may not be reliable indicators of corporate sponsor"s return on investment. In this regards, the main objective of this study was to evaluate market reactions of TOP VII corporate Olympic sponsors" stock prices and to identify potential difference between TOPVII program partners and domestic corporate sponsors for the 2010 Vancouver Olympic game. A total of seven TOP VII Olympic corporate sponsors and domestic corporations in which their stocks are traded in S&P 500 index, were selected for this study. In order to calculate Abnormal Return(AR) and Cumulative Abnormal Return(CAR) of the TOP VII Olympic sponsors" stock value, event study method(Brown & Warner, 1985) was adopted in this study. In comparison with ARs and CARs during the estimation time period (100 days prior to the event), statistically significant and dramatic increases in both AR and CAR were found for the domestic partners during the 2010 Vancouver Olympic gamed. This finding from this analysis means that there was empirical evidence of positive reaction in the AR and CAR of the TOP VII Olympic sponsors" stock value.

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