The Influence of Professional Team''s Game Results on the Sponsor Company''s Abnormal Return

• Main Authors: Yu-Hsun Huang, 黃鈺勛
• Other Authors: Shih-Tung Shu
• Format: Others
• Language: zh-TW
• Published: 2009
• Online Access: http://ndltd.ncl.edu.tw/handle/74336333646562702443

碩士 === 國立高雄第一科技大學 === 行銷與流通管理所 === 97 === ABSTRACT This study aims to explore the impact of corporate sponsorship, in terms of sponsoring a professional baseball team where the corporate brand is on the top of it, on the company''s brand equity and its stock price’s abnormal return. The data were collected from the listed companies and IPO of Taiwan Economic Journal (TEJ) database and Chinese Professional Baseball League (CPBL) web site. Time period ranges from 1990 to 2008. The final selected companies are: Wei Chuan, Mercuries Corporation, Uni-President Corporation, and Sinon Corporation. The results indicated that the sponsored team’s championship on the current year has no effect on its stock price’s abnormal return, but has a significant effect on upward change of the firm’s current year Tobin’s q value. This study affirms the importance of the sponsored professional baseball team’s competition outcome. Companies which sponsor these teams are recommended to provide mutual marketing activities to cope with the championship event so as to boost the brand equity.