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Online brand communities (OBCs) and their role in determining consumer behavior is gathering interest of theorists and practitioners. This study examines the role of OBCs in influencing the level of involvement leading to perceived sport team brand equity (STBE) of sports fans from a social exchange theory perspective. The role of self-congruity as a moderator is examined to determine the differences in the level of involvement and attachment of fans in OBCs.

Based on quantitative research and convenience sampling, data for the study were collected from 394 football fans who were existing members of OBCs. The research model is tested using partial least square structural equation modeling.

The results show a direct and significant impact of brand involvement on brand attachment. Consumer brand engagement (CBE) mediates the relationship between brand attachment and STBE. While self-congruence does moderate the effects between brand involvement and brand attachment.

The study reveals the role of community related factors on sports fans’ perceived STBE. The study also provided a novel approach to examine sport fan behavior in social media through the lens of social exchange theory. Finally, it is providing a novel approach in examining role of OBCs in influencing behavior of sports team fans towards the team and brand.

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.

The purpose of this study is to identify which dimensions of perceived value best mediate football club branding and fan loyalty from a developing league perspective.

Using a cross-sectional design, we collected data using questionnaires from football fans in Ghana (N = 700). The data were analysed using SmartPLS V3, applying structural equation modelling with bootstrapping procedure.

The results indicate that club branding is an effective precursor of fan loyalty. Moreover, the findings suggest that functional, social and emotional values mediated club branding and fan loyalty, whereas epistemic and economic values did not.

This study contributes to sports management literature by identifying the dimensions of perceived value that will be relevant in the development of club brands in the developing league context.

Immersive technologies fully immerse users in augmented environments for interactive experiences. The purpose of this study is to measure consumers’ intention towards experiencing immersive technologies at tourism destinations using an integrated theory of planned behaviour (TPB) and technology acceptance model (TAM) model within the stimulus-organism-response (S-O-R) framework, including motivation (MOT), trust (TR) and perceived risk (PR).

The survey data was collected through convenience sampling via an online questionnaire, with a sample size of 487 Indians. Structural equation modelling was conducted using SPSS and AMOS software for data analysis, ensuring a robust examination of the proposed model and its relationships.

Virtual interactivity and social interaction influence both attitude and perceived behavioural control. Attitude, perceived behavioural control, perceived usefulness and TR significantly influence intention. However, MOT, PR and perceived ease of use do not exhibit a significant influence on intention. These findings highlight the importance of these variables in shaping consumers’ intention towards experiencing immersive technologies at tourism destinations.

The findings hold significant implications for various stakeholders, including government agencies, travel firms, content creators and software developers. They can leverage these insights to enhance marketing strategies, develop immersive tourism experiences, innovate in the realm of Web 4.0 and personalize tourism offerings.

This study offers a distinctive contribution by integrating the S-O-R framework with TPB and TAM, while also incorporating key factors such as MOT, TR and PR. This novel approach provides a fresh perspective on consumer behaviour towards immersive technologies.

The aim of this research was to investigate fans’ responses toward a sponsor that has had a long-standing sponsorship deal with a club and decided also to sponsor the club’s rival.

A long-term sponsorship deal between a retsina wine company and a popular football club and a newly established deal between the company and the main rival club were selected as the research setting. Data were collected from a total sample of 302 participants, fans of the two teams, using an online survey and PLS-SEM was employed to test the relationships of the proposed structural model.

The results provided evidence for the importance of the inclusion of perceptions of fit for both teams to the model as it impacted the responses in the joint sponsorship. Team identification emerged significant for improving fans perceptions of fit between the sponsor and their favorite club but also led fans of the long-term sponsored club to feel betrayed from the sponsor. The sense of betrayal impacted the level of fit, the rejection of sponsorship but did not emerge significant for driving negative responses toward the sponsor’s brand. The same held for the rejection of the joint sponsorship.

This is the very first study that incorporated the effects of the perceptions of fit of two rival clubs to test the effect of sponsorship for a sponsor brand of a deal that includes a longtime sponsored football club and its rival as a newly sponsored one. It is also one of the first attempts that explores relationships between perceptions of fit, sense of betrayal and rejection of a joint sport sponsorship in a rivalry context, highlighting the importance of preventing fans' betrayal.

This study aims to explore the impact of athlete brand image on fans’ social media engagement, purchase intentions, and also examines the mediating role of emotional attachment on these relationships, as well as the moderating role of perceived price value between emotional attachment and purchase intentions.

The data are based on an online survey conducted in China (N = 572). The PLS-SEM (partial least squares structural equation model) and regression-based estimation method (PROCESS) are employed to test the hypotheses.

The results indicate a positive relationship between athletes’ athletic performance and fans’ social media engagement as well as purchase intentions. The impact of athletes’ attractive appearance and marketable lifestyle on fans’ purchase intentions is sequentially mediated by emotional attachment and social media engagement. Moreover, the mediation effect of athletes’ off-field image and purchase intentions is contingent upon fans’ perceived price value.

Athletes and marketers could integrate and leverage both the on-field and off-field attributes to cultivate emotional connections with fans. Sports organizations and managers need to pay attention to fans’ social media engagement and provide content that increases engagement and converts into transactional behavioural intentions.

The study provides empirical evidence of the mediating role of emotional attachment between athlete brand image and fans’ purchase intentions. The explanatory mechanisms involving emotional attachment and social media engagement (non-transactional behavioural intentions) are anticipated to be a noteworthy addition to the traditional fan transactional behavioural intentions framework. Moreover, the research introduces and confirms perceived price value as a crucial moderating factor influencing the relationship between emotional attachment and purchase intentions.

This paper develops a debt-run model to study the effects of liquidity injections on debt markets in the presence of a renegotiation option. In the model, creditors decide when to withdraw their funding and equityholders can renegotiate the contract terms of debt. We show that when equityholders have a large bargaining power, liquidity injections into distressed firms can rather cause more aggressive runs from their creditors, hurting the debt value. This outcome occurs because equityholders can strategically utilize the renegotiation option as a bankruptcy threat, pushing down the debt value below the potential liquidation value of the firm. In such a scenario, a deterred default resulting from emergency capital injections could be detrimental to creditors.

This study aims to investigate the institutional, macroeconomic and firm-specific determinants of financial leverage in Vietnam and provides new evidence from the dynamic panel fractional estimator.

This study uses a panel dataset of 859 Vietnamese firms from 2008 to 2022 and employs three estimators: Feasible Generalized Least Squares (FGLS), System Generalized Method of Moments (SysGMM) and Dynamic Panel Fractional (DPF), with DPF being particularly suitable for handling fractional dependent variables and the dynamic nature of financial leverage.

The results confirm the dynamic nature of the financial leverage model, with firm-specific factors, institutional factors and macroeconomic factors playing significant roles in shaping firms' financing decisions. The DPF estimator highlights the positive impact of stock market development on leverage. This study contributes to the literature by providing new evidence on the determinants of leverage in Vietnam, using the DPF estimator for more accurate estimation and revealing the significant impact of the size of the banking sector, the size of the stock market, the stock market development index, the financial development index and the corruption perception index on leverage.

This study contributes to the literature by providing new evidence on the dynamic nature of the financial leverage model and the impact of institutional, macroeconomic and firm-specific factors on financial leverage in the context of Vietnam. The use of the DPF estimator allows for a more accurate and reliable estimation of the determinants of leverage, considering the fractional nature of the dependent variable and the persistence of capital structure decisions over time.

There are variations in religious social norms and legal environments around the world. In this paper, we aim to examine the interaction between variations in religious social norms and legal environments on real activities manipulations and expense misclassification using a global sample of 63 countries. Our inquiry is motivated by a paucity of research on the interaction between legal environment and religion on earnings management practices in an international setting.

This study draws on a global sample of 63 countries to examine the effect of variations in religious social norms and legal environments on the trade-off between expense misclassification and real activities earnings management practices. Firm-specific financial data come from Global Compustat. Religion data are obtained from World Values Surveys of the World Bank. We obtain legal environment scores from the International Country Risk Guide.

Findings suggest that the interaction between law and religion serves as constraints on both classification shifting and real activities manipulation around the world. We find that religion strengthens the weak legal environment and the strong legal environment strengthens the weak religious environment to decrease both real activities manipulation and classification shifting when law and religion interact in an international setting. Therefore, our results contradict Zang's (2012) earnings management trade-off evidence. Again, our results contradict Malikov et al.’s (2018) evidence that mandatory International Financial Reporting Standards (IFRS) adoption is associated with increased real activities manipulation.

The study is limited to 63 countries limiting the generalizability of the findings.

This study provides novel evidence and shows that there is a link between law and religion. The interaction between law and religion decreases expense misclassification and real activities manipulation. We contribute that the interaction between religion and law benefits firms and increases shareholder value as real activities manipulation decreases. Therefore, strengthening the legal environment will complement religion, IFRS and other monitoring mechanisms put in place to mitigate unethical expense misclassification and real activities earnings manipulation around the world.

The aim of this paper, which analyses the use of sports celebrities in advertising discourse, is to understand the strategic use to which brands put them in their commercial and corporate communication on Instagram.

To this end, a content analysis was performed on the Instagram posts of the brands Santander, Movistar, Red Bull and Iberdrola during the period 2021-2022.

The results indicate that, strategically speaking, these brands use the celebrity endorsement strategy to pursue emotional objectives and to adopt a position depending on the type of user. Likewise, these findings show that they single out uniqueness as the principal celebrity characteristic, while also mainly leveraging sports values, especially competence. These values represented by sports celebrities are markedly social in nature, which implies that they enjoy a degree of public recognition that is transferred to the brand to which they lend their image.

The conclusions connect celebrity endorsers with strategic branding issues and aspects of sports.

An empirical approach is followed here to study the representation of sports celebrities in the advertising of well-known brands linked to the sports world.