Measuring stock market reaction to sponsorship announcements: the case of Fiat and Juventus

G. Spais, G. Filis

Research output: Contribution to journalArticlepeer-review

Abstract

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.
Original languageEnglish
Pages (from-to)169-180
Number of pages12
JournalJournal of Targeting, Measurement and Analysis for Marketing
Volume16
Issue number3
DOIs
Publication statusPublished - 2008

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