The major objective of this paper is to test who benefits most from sponsorship agreements: the sponsor or the sponsored organisation. The paper deals with stock market reaction to official football club sponsorship announcements using the event-study method. Our intention is to test 123 daily stock prices, in order to investigate the potential influence of the announcement of an official football club sponsorship programme upon stockholders’ behaviour within both organisations. For the purposes of this paper, we examine the consequences for both Fiat S.P.A. and Juventus Football Club S.p.A. of their recently announced three-year sponsorship agreement for 33 million euros.
|Number of pages||12|
|Journal||Journal of Targeting, Measurement and Analysis for Marketing|
|Publication status||Published - 2008|