Is the name worth it? An investigation into the value of stadium naming rights
Public Deposited- Last Modified
- February 26, 2019
- Creator
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Wood, Andrew J.
- Affiliation: Kenan-Flagler Business School
- Abstract
- This thesis examines whether public companies increase shareholder value when investing in stadium naming rights contracts in one of the four major sports in the United States (Major League Baseball, National Basketball Association, National Football League, National Hockey League). Using stock price event analysis, a sample size of 93 stadiums was examined over an 119day window to see whether or not a particular company’s stock price had positive or negative abnormal returns in comparison to the S&P 500. Analysis showed that only 15/93 or 16% of the sample provided statistically significant abnormal returns, both positive and negative, suggesting that company’s stock prices did not differ from normal market fluctuations. Even with no statistical evidence for any positive returns on stadium naming rights agreements, companies continue to invest in this type of marketing strategy, in which additional hypothesis are drawn based on the inconclusive evidence found from stock price event analysis.
- Date of publication
- spring 2015
- Keyword
- DOI
- Resource type
- Rights statement
- In Copyright
- Note
- Funding: None
- Advisor
- Ravenscraft, David
- Degree
- Bachelor of Science
- Honors level
- Highest Honors
- Degree granting institution
- University of North Carolina at Chapel Hill
- Extent
- 72
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