Yangyang Chen
Helmut M. Dietl
Johannes Orlowski
and Fang Zheng

This paper analyzes how investments in professional European football clubs affect the market value of Chinese corporations. Twelve acquisition cases with complete stock return data are identified between 2009 and 2017. Applying traditional financial event study methodology, it appears that Chinese corporations, on average, do not earn abnormal returns as a result of their investments in professional European football clubs. However, as exceptions to this finding, a few corporations show significant positive or negative abnormal returns. This study also hints at an association between the...Read more

Stephanie Kiefer

High popularity and a high market value are important for a footballer’s regular wage as well as advertising and sponsor contracts. Yet how can a football player improve his popularity and market value? The aim of this study is to examine whether a good performance during the 2012 European Football Championship has an impact on the changes in online media popularity (Facebook, Google and uefa.com). Moreover, it will investigate whether good performance and non-performance-related popularity affect changes in market values. This study finds out that different Euro 2012 performance variables...Read more