The purpose of this study is to investigate the effect of sponsorship announcements on the returns of sponsee stocks by using event study methodology. The study sample includes 25 sponsorship announcements of four major sports clubs listed in Borsa Istanbul for the time period 2011–2015. Statistical significance of the abnormal returns, cumulative abnormal returns, average abnormal returns, and cumulative abnormal returns are tested by t-test. Mann Whitney U tests were performed to check the differences in abnormal returns based on sponsors’ home countries and form of sponsorship....Read more
