Does a sponsorship program have a direct effect on investors’ behavior? Implication for investors’ relations managers of services organizations
Part of : Χορηγία ; Vol.1, No.1, 2005, pages 25-37
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25-37
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Abstract:
The major objective of this study is to measure the impact of an Olympic games sponsorship program, which targets the public of investors. We address the core research themes of our study using an event-study methodology. Our intention is to test 440 daily stock prices and transaction volumes, in order investigate the potent influence between the announcement of a grand sport sponsorship program and investors’ behavior. For this study we examined the announcement data of three grand sponsors of Olympic Games of Athens 2004 (Alpha Bank, Delta and G.T.O.). The authors propose that services organizations must build sponsorship programs targeting the public of investors. They suggest that organizations interested in influencing investors’ behavior should invest in sponsorship activities at the sports’ sector. The findings suggest that organizations can measure the success of a sponsorship program, which targets investors, using an event study methodology, based on the "market model". They recognize that the problem of measurement is arisen from the problematic targeting, as also the lack of a clear definition of the sponsorship program’s communication goals.
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Περιέχει πίνακες και βιβλιογραφία
