The decision to raise firm value through a sports-business exchange: How much are Real Madrid's goals worth to its president's company's goals?

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dc.contributor.authorNicolau, Juan Luisen
dc.date.accessioned2024-07-31T17:08:47Zen
dc.date.available2024-07-31T17:08:47Zen
dc.date.issued2011-11-16en
dc.description.abstractGlobal brands emerging from the world of sports are becoming commonplace, and firms invest in the realm of sports, usually through sponsorship initiatives, to get a link with these global brands. Over and above just a mere business link, what if a company makes a personal commitment to get into the core of a renowned, celebrated sports team? This article provides managers with a procedure to analyze, in a weekly basis, how valuable this type of decision is. A conceptual model shows that the personal involvement of a firm's figurehead in a first-class sports club can impact positively on firm value if the person is doing well in the task s/he is entrusted with by the club. The empirical application to the soccer club Real Madrid, over 1,409 days and 215 matches, finds that the club's performance on the field has a significant impact on the economic returns of its president's company, with asymmetrical effects on firm value in a "loss aversion" pattern, that is, lost matches have a greater effect on firm value than games won. en
dc.description.versionAccepted versionen
dc.format.extentPages 281-288en
dc.format.extent8 page(s)en
dc.format.mimetypeapplication/pdfen
dc.identifier.doihttps://doi.org/10.1016/j.ejor.2011.04.032en
dc.identifier.eissn1872-6860en
dc.identifier.issn0377-2217en
dc.identifier.issue1en
dc.identifier.orcidNicolau Gonzalbez, Juan [0000-0003-0048-2823]en
dc.identifier.urihttps://hdl.handle.net/10919/120798en
dc.identifier.volume215en
dc.language.isoenen
dc.publisherElsevieren
dc.relation.urihttp://gateway.webofknowledge.com/gateway/Gateway.cgi?GWVersion=2&SrcApp=PARTNER_APP&SrcAuth=LinksAMR&KeyUT=WOS:000294394700028&DestLinkType=FullRecord&DestApp=ALL_WOS&UsrCustomerID=930d57c9ac61a043676db62af60056c1en
dc.rightsCreative Commons Attribution 4.0 Internationalen
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/en
dc.subjectDecision analysisen
dc.subjectSports-business exchangeen
dc.subjectBrand equityen
dc.subjectFirm valueen
dc.subjectLoss aversionen
dc.titleThe decision to raise firm value through a sports-business exchange: How much are Real Madrid's goals worth to its president's company's goals?en
dc.title.serialEuropean Journal of Operational Researchen
dc.typeArticle - Refereeden
dc.type.dcmitypeTexten
dc.type.otherArticleen
dc.type.otherJournalen
pubs.organisational-group/Virginia Techen
pubs.organisational-group/Virginia Tech/Pamplin College of Businessen
pubs.organisational-group/Virginia Tech/Pamplin College of Business/Hospitality and Tourism Managementen
pubs.organisational-group/Virginia Tech/All T&R Facultyen
pubs.organisational-group/Virginia Tech/Pamplin College of Business/PCOB T&R Facultyen

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