24 October, 2005
For the week beginning Monday 24 October new research co-authored by UQ Business School academic, Professor Bettina Cornwell, will feature on the high-traffic Yahoo finance website.
Professor Cornwell said the quiz averaged more than 20,000 hits per day.
She said, "The quiz is a fun thing but it also links to research that is new and interesting for a business audience. We feel that it is an endorsement of the relevance of our work."
Published in the in the Journal of Academy of Marketing Science, the paper is co-authored by Professor Cornwell and US colleagues Stephen Pruitt, University of Missouri and John M. Clark, University of Southern Mississippi.
The paper reviewed the impact of 53 major corporate sports sponsorship deals announced between 1992 and 2003. The research showed that partnering with sports leagues can positively impact market performance.
The average increase in share price for companies partnering with the National Hockey League (NHL) was 2.41%, for the PGA golf it was 1.46%, for Major League Baseball (MLB) it was 0.86%, and for the National Football League (NFL) it was 0.30%.
The average increase in share price across all the sponsorships studied was 1.11% in the week following the announcement. In dollar terms, the average product sponsorship deal created $257M in incremental market capitalization.
To give the quiz a go, visit finance.yahoo.com.
For further information:
Professor Bettina Cornwell
Media enquiries:
Cathy Stacey
Marketing Development Manager
Phone (07) 3365 6179
Mobile 0434 074 372
Fiona Sutton
Mobile 0423 637 699
Email media@business.uq.edu.au
