Hyun-Min Kim
Woon-Kyung Song
Sanghak Lee

This study aims to examine the effects of sponsorship on the sponsor’s financial performance. Th is study investigates return on sponsorship (ROS) with a quantitative analysis. Nexen Tire’s title sponsorship agreement with the Heroes baseball club in the Korea Baseball Organization (KBO) in 2010 is studied. The positive effect of sponsorship on the sponsor’s Tobin’s q is confirmed by comparing the non-sponsorship period (2000‒2009) with the sponsorship period (2010‒2018). It is also shown from an event study that the sponsor experiences negative abnormal stock returns on the news of the...Read more

Dennis Coates
IuIiia Naidenova
and Petr Parshakov

This study considers the football transfer market as a network and analyzes how characteristics of a football club’s player transfer network activities influence club performance. We use data on 23,220 unique football clubs from 189countries from 1996 through 2016. Our results show that for sport performance the best strategy is to have well-established relations with a limited number of partner clubs, especially in the domestic league. However, transfer policy focused on international deals improves financial performance of football clubs. These findings provide club management with...Read more

Panagiotis E. Dimitropoulos
Athanasios Tsagkanos

The aim of this paper is to analyze the impact of corporate governance quality (namely board size, board independence, managerial ownership, institutional ownership, and CEO duality) on the profitability and viability of European Union’s football clubs over the period 2005-2009. Empirical results documented that corporate governance quality (higher managerial and institutional ownership, increased board size and independence, and the separation of the CEO and chairman roles) leads to greater levels of profitability and viability. Further analysis based on clubs’ profitability and viability...Read more