This study presents analysis of the impact of “official product” sports sponsorships with the National Football League (NFL),
Major League Baseball (MLB), the National Hockey League (NHL), the National Basketball Association (NBA), and the Professional
Golfers Association (PGA) on the stock prices of sponsoring firms. The primary finding of the study is that, in the main,
announcements were accompanied by increases in shareholder wealth. The 53 sponsors analyzed experienced mean increases in
stock valuations of about $257 million. A multiple regression analysis of firm-specific stock price changes and selected corporate
and sponsorship attributes indicates that official product sponsorships with the NBA, NHL, and PGA and those with smaller
market shares were associated with the largest gains in share prices. Although corporate cashflow (a proxy for agency conflicts)
is statistically unrelated to shareholder approval, sponsorships by high-technology companies were associated with stronger
stock price reactions than otherwise. Finally, product congruence with the sponsored sport was positively related to changes
in stock prices.
T. Bettina Cornwell (b.cornwell@business.uq.edu.au) is Professor of Marketing and Leader of the Marketing cluster in the UQ Business School at
the University of Queensland, Australia. She was formerly Professor of Marketing in the Fogelman College of Business and Economics
at the University of Memphis. She received her Ph.D. from the University of Texas. Her research focuses on promotion and consumer
behavior, especially with regard to international and public policy issues. Other articles on the topic of sponsorship-linked
marketing have recently appeared in theJournal of Advertising, the Journal of Advertising Research, theJournal of Business Research, andPsychology & Marketing.
Stephen W. Pruitt (pruittst@umkc.edu) is the holder of the Arvin Gottlieb/Missouri Endowed Chair of Business Economics and Finance in the Henry
W. Bloch School of Business and Public Administration at the University of Missouri-Kansas City. He received his Ph.D. from
Florida State University. He has published more than 45 articles, most of which employ event study methodologies, in journals
such as theJournal of Finance, theJournal of Political Economy, Financial Management, theJournal of Public Policy and Marketing, and theJournal of Advertising Research.
John M. Clark (clarkj@cba.usm.edu) is an assistant professor of finance at the University of Southern Mississippi. He received his Ph.D.
from the University of Alabama. His research interests include options and other derivatives, investments, and the impact
of real events upon the stock prices of corporations. His work has appeared in scholarly outlets such as theJournal of Advertising Research, theFinancial Review, and theJournal of Business Ethics. 相似文献
Firms with export operations have internal environments that are often geared toward serving the home market. As a result,
export marketing and other business functions compete for resources, which thus increases the likelihood of conflict between
them. Using survey responses from more than 700 exporting firms, the authors test a model of the antecedents and consequences
of two important interaction variables: exporting’s interfunctional connectedness and conflict. The model explains 52 percent
and 49 percent of variance in exporting connectedness and conflict, respectively. The authors identify the key drivers of
successful interactions as follows: management commitment, organizational training and reward systems, relative functional
identification, centralization, and export employee job satisfaction and commitment. The authors also demonstrate that connectedness
is most critical for export success when export markets are in a state of turbulence, whereas conflict is most detrimental
when the firm’s export environment is stable.
John W. Cadogan (j.w.cadogan@lboro.ac.uk), Ph.D., is a professor of marketing in the Business School at Loughborough University, United Kingdom.
His primary areas of research interest are international marketing, marketing strategy, and sales management. He has published
on these issues in theJournal of International Business Studies, theInternational Journal of Research in Marketing, theJournal of Business Research, Industrial Marketing Management, theEuropean Journal of Marketing, theInternational Marketing Review, theJournal of Marketing Management, theJournal of Strategic Marketing, and other academic journals. He received his degree from the University of Wales (United Kingdom).
Sanna Sundqvist (sanna.sundqvist@lut.fi), Ph.D., is a professor in international marketing in the Department of Business Administration at
the Lappeenranta University of Technology (Finland). Her research interests deal with the international diffusion of innovations,
market orientation (especially in an international context), and consumers’ adoption behavior. She has published in theJournal of Business Research, theInternational Journal of Research in Marketing, theEuropean Journal of Marketing, theCanadian Journal of Administrative Sciences, and theAustralasian Marketing Journal. She received her degree from the Lappeenranta University of Technology, Finland.
Risto T. Saiminen (risto.salminen@lut.fi), Ph.D., is a professor of industrial engineering and management, especially marketing, in the Department
of Industrial Engineering and Management at Lappeenranta University of Technology, Finland. His primary areas of research
interest are customer relationships and networks in business marketing, pedagogy in industrial engineering and management,
and international marketing. He has published on these issues in theJournal of Business and Industrial Marketing, theJournal of Marketing Management, theEuropean Journal of Engineering Education, theInternational Journal of Research in Marketing, theEuropean Journal of Marketing, and theAustralasian Marketing Journal. He received his degree from Lappeenranta University of Technology, Finland.
Kaisu Puumalainen (kaisu.puumalainen@lut.fi), Ph.D., is a professor in technology research in the Department of Business Administration at
Lappeenranta University of Technology, Finland. Her primary areas of research interest are innovation, international marketing,
and small businesses. She has published on these issues in theInternational Journal of Research in Marketing, theJournal of Business Research, theEuropean Journal of Marketing, R&D Management, theCanadian Journal of Administrative Sciences, theJournal of International Entrepreneurship, theAustralasian Marketing Journal, and theInternational Journal of Production Economics. She received her degree from the Lappeenranta University of Technology, Finland. 相似文献
Previous studies of the driving times of shopping center patrons have not examined the effect of limited access highways.
This study analyzed the impact of interstate highways on the driving times of 204 shoppers at three medium-sized regional
shopping centers. Those shoppers indicating usage of interstate highways to reach their shopping destinations were significantly
more likely to incur travel times greater than fifteen and twenty minutes than those not using the available interstate roads.
In predicting the drawing power of these shopping centers, factors besides mass were found to be useful. These include square
footage of shopping goods, stores, and number of parking places. 相似文献
An evaluation of onsite concurrent review over and above the effects of Aetna's precertification program demonstrated reduced utilization and expenses, especially for ancillary services, and no adverse effects on rates of medical complications. 相似文献
Summary A choice behavior of a decision maker is said to satisfy the subjective expected utility hypothesis if there exist a utility and a subjective probability such that a decision maker chooses acts with the highest expected utility. We present a revealed preference characterization of choice behavior that is consistent with the subjective expected utility hypothesis. Our result applies to any state space and compact sets of prizes and observations (either finite or infinite). 相似文献
"In this paper, an individual model of rural-urban migration is studied, emphasizing the effects of information flow and urban wage dispersion. Migration is viewed in the context of a lifetime program of job search. It is shown that migration can occur even when the mean urban wage is no larger than the rural income flow.... Both the shape and spread of the urban wage dispersion are shown to affect migration behavior significantly." The geographical focus is on developing countries. 相似文献
Unemployment has been identified as one of the main problems confronting South Africa. Recently, in order to improve rural infrastructure and create employment, several pilot projects of rural road construction have been initiated in South Africa. In such a context it is considered that attention should be drawn to a pilot project carried out some time ago in Botswana to examine the potential of labour‐intensive methods in the construction and maintenance of rural roads.
The main conclusion of the pilot project was that labour‐intensive methods were viable, although attention had to be paid to several critical factors. In 1982, following its evaluation of the pilot project, the Government of Botswana decided that over the next five years the technical and organisational methods developed during the pilot project should be replicated throughout Botswana.
After a brief survey of the background to the project, the paper summarises several important features of the pilot project and its main findings. The paper closes with some comments on the implications of this pilot project for those currently underway in South Africa. 相似文献