This study aimed to examine the impact of a major sporting event, the 2020 Tokyo Olympics, on abnormal returns of Japanese sponsors and Taiwanese Olympic-related stock prices during three different periods, including the hosting announcement, the postponement in light of the COVID-19 pandemic, and the holding as scheduled. Using the event study approach, secondary data were collected to investigate the fluctuation of abnormal returns of official Japanese sponsors and Taiwanese Olympic-related stocks. The empirical evidence showed that Olympics-related news disclosures significantly...Read more
