| 大型赛事赞助、网络关注度与企业市场价值--2018年俄罗斯世界杯中国赞助商实证研究 |
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| 引用本文： | 付磊,蔡兴林.大型赛事赞助、网络关注度与企业市场价值--2018年俄罗斯世界杯中国赞助商实证研究[J].体育科学,2020(4):28-34. |
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| 作者姓名： | 付磊 蔡兴林 |
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| 作者单位： | 西南财经大学体育与经济管理中心 |
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| 基金项目： | 国家社会科学基金项目(16BTY046)。 |
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| 摘 要： | 企业赞助大型体育赛事目的是为了提升企业的市场价值,针对多家中国企业赞助2018年俄罗斯世界杯的事件,用事件研究方法考察了企业签约赞助和开赛日2个阶段股票价格的异常收益波动,并用百度指数研究了网络关注度对异常收益的影响关系。研究发现,中国企业赞助俄罗斯世界杯,在签约事件窗口内企业获得正向的市场绩效,而在开赛日事件窗口内企业获得负向的市场绩效。百度指数与股票异常收益的关系,说明网络关注度对事件影响产生催化剂的作用。研究结果表明,企业赞助大型赛事需要注重短期和长期的效果,注意防止过度炒作,并要积极采用营销组合的手段扩大赞助带来的影响和收益。
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| 关 键 词： | 赛事赞助 网络关注度 事件研究 市场价值 |
Sponsoring Mega Sports Events,Online Attention and Firm Value--Evidence Form the Chinese Sponsors of 2018 World Cup in Russia |
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| FU Lei,CAI Xinglin.Sponsoring Mega Sports Events,Online Attention and Firm Value--Evidence Form the Chinese Sponsors of 2018 World Cup in Russia[J].China Sport Science,2020(4):28-34. |
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| Authors: | FU Lei CAI Xinglin |
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| Institution: | (Center of Sport Economic and Management,Southwestern University of Finance and Economic,Chengdu 611130,China) |
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| Abstract: | The objective of sponsoring large-scale sports events is to enhance the market value of enterprises. In this paper, the event research method was applied to investigate the abnormal return fluctuations of the stock price at two phases, which were the announcement of sponsorship by Chinese sponsors of the 2018 World Cup in Russia and the opening day of the games. It was found that the abnormal returns of stocks in the event window of sponsorship announcement were significantly positive, while the abnormal returns of stocks in the event window of opening day were significantly negative, and the market value of firms decreased.In addition, Baidu search index was used to study the impact of the online attention on the abnormal returns of the sponsors. The relationship between Baidu search index and abnormal stock returns shows that sponsors’ day-by-day abnormal returns correlate strongly with Baidu search index. The results indicate that sponsors should pay attention to the short-term and long-term effects of sponsoring large-scale events, prevent over hype, and actively use marketing mix to expand the impact and benefits of sponsorship. |
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| Keywords: | event sponsorship online attention event study market value |
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