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This paper investigates the stock market reaction to three different events related to the UEFA Champions League – the announcements of draws, odds and match results. The aim of the paper is to test whether these events are informative for stock market operators, i.e. whether they produce abnormal returns.

Applying the event study methodology, the authors investigate the stock market reaction before (at two events: the draw date and on the release of betting odds) and after the matches of 11 listed soccer teams in the period 2003–2019. The authors also conduct OLS regression analyses in order to disentangle the impact of firm specific variables and match characteristics on cumulative abnormal returns.

This paper finds that match outcomes affect the stock market performance of listed teams, while the announcements of draws and odds do not. More specifically, the market does not consider match outcomes involving wins and ties as informative events, while it penalizes losing teams. Moreover, investor reactions to events related to the UCL competition depend more on match characteristics than on company specific variables.

The study enriches the ongoing debate about the impact of soccer team results on stock market performance in several ways: using the widest time span ever adopted in this area; focusing on UCL, which is the most important soccer competition played by private clubs; disentangling for the first time the effects of draws, odds release and sporting outcome on stock returns of listed soccer clubs.

This paper studies the interactive valuation discourses of an online user community (transfermarkt.de) that seeks to determine market values for soccer players. Despite their seemingly casual nature, these values have featured in newspapers, transfer negotiations, academic research, and capital market communication – and have thus become reified.

The paper employs netnographic research methodology to collect and thematically analyze a wide range of user entries on the platform. These entries are studied using theoretical insights from the sociology of quantification and valuation.

The analysis reveals how values are constructed in constant interaction between value-proposing users and value-justifying “experts.” This dynamic form of relational valuation positions players relative to one another as well as to actual transactions on the transfer market. In the absence of authoritative guidelines, it is this possibility and affordance for interaction that enacts a coherent valuation regime. The paper further reveals the platform's response to a disruptive event, which risked bringing the user-expert dynamics to a halt, requiring intervention from the platform to repair its valuation frame.

The paper responds to increased scholarly interests in the valuation of professional athletes. It contributes to the extant literature on valuation, first, by analyzing the dynamic valuation work that feeds into the social construction of values and, second, by studying platform participation and user interaction in a socially engineered online space.

The Asian Handicap is a way to bet on soccer matches where payouts depend on an adjustment to the score that favors the weaker team. These bets can feature the possibility of all or half the bet being refunded and this makes the calculation of their expected return more complex than for traditional betting on a home win, away win or draw. We examine the behavior of odds in this market.

In addition to a using well-known publicly available source of information on Asian Handicap betting odds – which provides the average odds across a range of bookmakers – we have also sourced a large dataset of Asian Handicap odds offered by an individual bookmaker.

We show that bettors systematically lose more money on Asian Handicap bets where refunds are not possible than when it is possible to obtain a half refund. We also show that bets with the possibility of a full refund have the lowest loss rates. We demonstrate that this pattern of differences in loss rates across bets is predictable based on the odds quoted. This pattern could represent preferences, with gamblers disliking bets featuring potential refunds, but we argue the evidence points more towards gamblers incorrectly calculating expected loss rates.

Despite being one of the world's largest betting markets, there has been almost no previous research on the properties of the Asian Handicap soccer betting. Our finding of clear differences in returns on simultaneously available bets on the same team is also a new anomaly previously undocumented in any research on sports betting.

During the summer of 2018, the world was captivated by news about the Wild Boars soccer team, trapped in a cave in Thailand. This paper analyzes instances of leadership in the internationally-coordinated rescue effort. We share a lesson plan to support critical thinking in the roles of different leadership approaches and theories to apply this knowledge in a similar context. We present our methodology for developing this lesson plan and identification of leadership within the case; highlighted approaches include followership, servant leadership, situational leadership, and team-based leadership. We also pose three ethical issues that emerged within rescue operations. Educators can incorporate analysis of emergency response cases in their teaching to public sector officials to learn about various leadership styles that describe their approach. Our paper includes a risk management development plan exercise, incorporating a real-life emergency response incident.

In this study, the authors examine consumer attitudes toward a professional soccer club’s proenvironmental initiatives and evaluate whether key themes are consistent with those found in previous research of fans in different sporting contexts.

The authors analyzed empirical material provided by 147 highly identified supporters of a Major League Soccer team. Using template analysis, the authors compared codes, categories and themes with those previously identified in a reference group of National Football League (NFL) fans.

Twenty-three preliminary codes, nine categories and four themes were established by the researchers. Three themes – Considering Environmental Action, Business Insights and Impacting the Fan Experience – were all consistent with the NFL reference group. A fourth theme, Public Visibility, focused on the possibility that the club’s proenvironmental initiatives could provide a competitive advantage over rival cities and positively influence local programming and behaviors.

The results of this study support the notion that fan characteristics may differ across various demographic and structural contexts and fans’ recognition that a club could leverage its community standing to promote proenvironmental action.

This study aims to explore the relationship between social class and sports following in the United States, addressing a gap in research that has largely overlooked spectator sports in sociocultural analyses. The paper seeks to be an expanded update on previous work focusing on how socioeconomic factors such as income and education interact with sports engagement.

Employing 2023 national survey data from the United States, this study analyzes the following of 31 different spectator sports in relation to income and education. The methods include the use of Cramer’s V statistic to assess associations between sports following and socioeconomic variables and multiple logistic regression analysis to understand the relative predictive power of these variables on sports following.

The study reveals significant socioeconomic associations in sports consumption patterns in American society, with higher income and education levels generally predicting an increased likelihood of following a wide range of sports. Notably, international soccer leagues like the English Premier League and La Liga showed the strongest associations with higher socioeconomic status, suggesting their following might serve as particularly potent markers of sociocultural distinction.

This research provides a contemporary empirical update to the study of social class and spectator sports in the US, expanding the understanding of the evolving landscape of sports consumption and its socioeconomic connections. It underscores the importance of considering sports following as a vital aspect of cultural engagement, reflecting and reproducing broader socioeconomic stratifications. The findings offer new insights into how factors of social class shape sports consumption today, highlighting the role of sports in the cultural life of different social classes in the US.

The purpose of this study is to compare measurement scales of sports fans’ motivations applied to women’s football.

A survey research approach was used to collect 574 valid responses from participants in Brazil and the USA. Three prominent scales – Sport Interest Inventory (SII), Sport Fan Motivation Scale (SFMS) and Motivation Scale for Sport Consumption (MSSC) are were compared using the structural equation modeling technique.

The results indicate that the SII scale demonstrates superior predictive power for variables such as “purchase intention,” “electronic word of mouth,” “identification as a fan” and “interest in women’s football” compared to the SFMS and MSSC scales. The primary motivation among followers and spectators of women’s football in the study was “supporting women’s opportunities” in sport.

While the study is grounded in the most relevant scales pertinent to the theme, the limited academic production on the subject hinders direct comparisons with prior research.

Leveraging the insights from the SII scale, football team managers can refine their marketing strategies by understanding the primary motivations driving women’s football consumption. This knowledge can inform targeted efforts to enhance women’s football consumption, subsequently expanding opportunities for women in the sport.

This study provides valuable information that can inform initiatives aimed at boosting women’s soccer consumption, thereby contributing to increased opportunities for women in the sport.

To the best of the authors’ knowledge, this study represents the first attempt to compare scales in the specific context of women’s soccer, contributing with a unique perspective to the development of women’s sports.

The purpose of this paper is to explore the reasons for the discontinuation of sports sponsor–sponsee relationships and categorize them. Despite the negative outcomes of a sponsorship dissolution, research on this topic is rather scarce.

The paper relies on an analysis of 24 historical cases and 19 in-depth interviews focusing on the Dutch soccer league. Several sponsorship disruptors are identified and clustered into four categories.

The four categories for sponsorship dissolution are the following: sponsor-related factors, sponsee-related factors, inter-relational factors and external factors. In total, ten sponsorship disruptors are identified: insufficient value creation, objectives achieved, sports results, signal to society, exclusivity, negativity, personal relationship, changed marketing strategy, financial situation and legislation and regulation.

This study primarily investigates soccer sponsorship cases. Future research could investigate other sponsorship areas, which could yield different reasons for sponsorship termination.

Practitioners are advised to view the sponsorship relationship as a strategic alliance, rather than a resource, from the beginning of the sponsorship. A solid relational framework is needed, which is built around the elements of trust, commitment and collaborative communication. If such a foundation does not exist or has eroded, the sponsorship relationship is fragile and can be endangered by various factors.

This study uses inductive reasoning to devise a framework that enables sponsees to anticipate when sponsors are likely to discontinue their sponsorship such that the sponsees can take actions accordingly. Apart from validating existing reasons for sponsorship dissolution, this research also presents novel and previously undiscovered sponsorship disruptors.

The purpose of this paper is to study the effects of sports sponsorship on brand equity using two managerially related outcomes: price premium and market share.

This study uses a best–worst discrete choice experiment (BWDCE) and compares the outcome with that of the purchase intention scale, an established probabilistic measure of purchase intention. The total sample consists of 409 fans of three soccer teams sponsored by three different competing brands: Nike, Adidas and Puma.

With sports sponsorship, fans were willing to pay more for the sponsor’s product, with the sponsoring brand obtaining the highest market share. Prominent brands generally performed better than less prominent brands. The best–worst scaling method was also 35% more accurate in predicting brand choice than a purchase intention scale.

Future research could use the same method to study other types of sponsors, such as title sponsors or other product categories.

Sponsorship managers can use this methodology to assess the return on investment in sponsorship engagement.

Prior sponsorship studies on brand equity tend to ignore market share or fans’ willingness to pay a price premium for a sponsor’s goods and services. However, these two measures are crucial in assessing the effectiveness of sponsorship. This study demonstrates how to conduct such an assessment using the BWDCE method. It provides a clearer picture of sponsorship in terms of its economic value, which is more managerially useful.

This study explores the effect of video assistant referee (VAR) sponsorship on spectator response and compares it with advertising and conventional sponsorship.

An experiment with 809 subjects is conducted by analyzing 20 one-minute video clip stimuli from a Premier League soccer game divided into four formats: two formats of VAR sponsorship, advertising, and conventional sponsorship.

The results show that the indicators of recall, credibility, and perceived congruence improve when the VAR sponsorship format is used.

This is the first manuscript to examine the effectiveness of a new type of sponsorship: VAR sponsorship. This manuscript provides metrics that will guide practitioners on whether to use this type of sponsorship.