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• W180751952 abstract "(ProQuest: ... denotes formulae omitted.)IntroductionThe transformation of marketing through the use of major sponsorship programs has mandated significant changes in many aspects of traditional advertising, including content, media choice and placement, and the overall pattern of spending in many finns (Cornwell et al.. 2005). The sponsor finances the sponsored entity in order to secure the rights to exploit the coimnercial potential derived from its association with that property (Mccnaghan. 1983). Recently, sponsoring sport has become a popular way for firms as away to promote the brand of their product. More companies choice to use sponsoring sport and pay tens of millions dollars because the TV audience of many footballs reaches an important part of popular. As result, companies suppose that sport sponsorship is a key component of the marketing communication ad it dedicate an important part in his marketing budgets. Sponsoring sport postpones from traditional communication such as advertising, sales promotions, public relation or personal selling as it attempts indirectly to persuade consumers' (Meenaghan et Shipley, 1999; Tripodi, 2001).Farelly et al. (1997) argues that sponsorship is designated as a strategic communication tool. Roy et Cornwell (2003) explain that the sporting event is the fastest tool in marketing communications. Most prior studies utilize the event study approach and show that football game results affect the stocks of the teams that play (Renneboog et Van Brabant 2000). Farrell et Frame (1997) document a positive share price reaction following sport sponsorship announcements. Based on a sample of 110 publicly announced endorsement sport sponsorship contracts, Agrawal et Kamakura (1995) found a positive effect. The same result is verified by Miyazaki et Morgan (2001) on the 27 announcements of sponsorships related to the 1996 Olympics. In contrast, Farrell et Frame (1997) reported decreasing share prices, also examined the same 1996 Olympics. However, Clark et al. (2009) analyze 114 title sponsorship announcements and found overall no share price reaction.All previous studies on the effect of sponsorship announcements on the company's share price is mainly focused on the US (e.g., Agrawal et Kamakura, 1995; Clark et ai. 2009; Miyazaki et Morgan, 2001; Samitas et al.. 2008) and reported a contradictory results. However, and to our knowledge there is no research which analyses the effects of sport sponsorship announcements on share price of the sponsor in the Tunisian stock market.Sponsorships in Tunisia are now taking a new shift, since certain companies are engaging in more sponsorship sport activities. The sport is the primary focus of sponsorship. Indeed, the peculiarity of contemporary communication in modem sport is that sponsorship activity. It lias become an increasingly important field in all communication tools. This activity constitutes significant marketing investments for sponsoring companies. So, following the example of most of the countries of the world, the Tunisian sport became a real social phenomenon and sports clubs, in particular of football, set up themselves as real economic and coimnercial entities, draining some money through players' transfers, the sponsors and also the television rights.Except that, in spite of these facts, the sponsoring sport is still limited in Tunisia. One can wonder however whether the contracts of sport sponsorship are a worthwhile investment, add value for the company by increasing stock prices. Therefore, the purpose of this study is to analyze the impact of sport sponsorship announcements on company value. This effect is investigated using the concept of abnormal returns around the date of the match final to African nation championship handball (CAN). Abnormal returns are defined as the difference between expected stock returns and actual observed stock returns.The remainder of the study is organized as follows. …" @default.
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• W180751952 date "2013-09-01" @default.
• W180751952 modified "2023-09-24" @default.
• W180751952 title "The Impact of Sports Sponsorship on the Brand Value of the Tunisian Company" @default.
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