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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 aims to explore the potential impact of country-level governance in corporate financing structures.

A two-step system generalized method of moment was used due to the endogeneity issue. The whole sample comprises 3,761 firms in five economies – China, India, Pakistan, Singapore and South Korea – from 2007 to 2016.

The results indicate that the debt option for financing is not favorable under governments with an adequate governance arrangement. However, there is a direct and significant link between country governance and equity financing because in adequate governance arrangements, the possibilities of information asymmetry are minimal and businesses consider equity a more appropriate and safer financing instrument. In contrast, firms prefer to trade-credit financing in poor governance economies, which confirms an adverse link between trade credit and adequate governance.

The country’s governance should be considered a sensitive matter when deciding about corporate financing.

This arrangement of variables has not been previously analyzed in the literature, suggesting the study’s novelty.

Sports marketing and sponsorship research is located at the intersection of behavioral and design research, which means that it analyzes the current world and shapes a future world. This dual focus poses challenges for formulating and testing theories of sports marketing.

This article develops criteria for categorizing theoretical concepts as either behavioral or formed as different ways of expressing ideas of sports marketing research. It emphasizes the need for clear concept categorization for proper operationalization and applies these criteria to selected theoretical concepts of sports marketing and sponsorship research.

The study defines three criteria to categorize theoretical concepts, namely (1) the guiding idea of research, (2) the role of observed variables, and (3) the relationship among observed variables. Applying these criteria to concepts of sports marketing research manifests the relevance of categorizing theoretical concepts as either behavioral or formed to operationalize concepts correctly.

This study is the first in sports marketing to clearly categorize theoretical concepts as either behavioral or formed, and to formulate guidelines on how to differentiate behavioral concepts from formed concepts.

National surveys reveal that sports fans exhibit greater support for athletes, sports teams and leagues endorsing social justice initiatives compared to the general population, highlighting the potential of sports for positive social impact. This study investigates whether such responses are influenced by systematic biases.

Replicating a Nielsen national survey, two experiments explore whether biases affect support for athletes' participation in the Black Lives Matter (BLM) movement. The study also examines partisan motivated reasoning as a factor driving sports fans' support for BLM.

While avid fans display stronger endorsement of BLM compared to causal/non-sports fans, evidence suggests that systematic biases distort these responses. When sport identity becomes salient, reported support for the BLM movement becomes inflated.

Researchers often employ self-report surveys to gauge audience perceptions of athlete activism or cause-related initiatives, particularly when assessing their impact. This study's findings indicate that this context is susceptible to SDB.

The study underscores the role of systematic biases in self-report surveys, particularly in socially desirable contexts. People tend to over-report “positive behavior,” leading survey participants to respond more favorably to questions that are socially desirable. Therefore, interpreting survey results with caution becomes essential when the research context is deemed socially (un)desirable. It is crucial for researchers to apply appropriate measures to identify and mitigate systematic response biases. The authors recommend that researchers adopt both procedural and statistical remedies to detect and reduce social desirability biases.

Traditional sports have seen declining participation at many levels, with football being no different. This is occurring at a time when emergent technologies present new challenges, particularly to the crucial yet ignored cohort of millennials. Without meeting the needs of millennials, football cannot be successful in the future. This research seeks to understand how millennial football fandom (sport, not team) in Australia impacts football participation, whilst empirically examining the impact of football video games (FVGs).

Survey data are collected from online groups, forums and social media pages of Australian football (soccer) fans. Quantitative analysis of millennial fandom and its influence on football participation (for the first time demarcated into play and engagement) is undertaken, including the moderating influence of time spent playing FVGs, amidst covariate influences of age and number of children.

Results highlight the multi-dimensionality of millennial football fandom in Australia, reveal the typical hours spent playing football across a range of participation types (including play and engagement), support fan involvement’s influence on engagement with football, establish that a desire to interact with other football fans manifests in playing more football, specify how playing FVGs moderates these relationships, supports the covariate influences of age and evidences that playing FVGs does not hamper football play.

This is the first study to examine millennial fans of football (the sport, not tied to a club) and the influence of fandom on football participation. By separating football participation into two forms, play and engagement, we highlight discrete influences, whilst evaluating for the first time the moderating influence of the time millennials spend playing FVGs. For sport managers and administrators, these are important findings to facilitate better segmentation, recruitment, retention and participation, each with broader societal health benefits. This is undertaken in Australia where football is not a dominant code, relegating fandom to a niche, thus revealing important findings for sports and business management.

The purpose of this study was to compare four different consumer pathway models based on identity theory, attitude/loyalty theory, lifestyle theory and hierarchy of effects theory, each with associated instruments measuring connection to the team.

The authors did a two-study analysis, first collecting data from people aware of an NFL team (N = 218) and then an MLS team (N = 209) to determine which connection item performed better.

The authors found that the Consumer Pathway for Sport Fandom based on the hierarchy of effects theory and its associated interest measurement item performed better than the other three frameworks and items. The Interest item shared the most variance with games attended, games intending to attend, games watched via media and games intending to watch via media.

The Consumer Pathway for Sport Fandom represents the entire consumer spectrum from non-aware consumers all the way up to die-hard sports fans. This pathway will allow sport marketers to track their consumers from initial awareness of the product or service all the way through the brand relationship to ultimate loyalty.

This study aims to examine the impact of national culture on classification shifting in Eastern European Member States of EU Eastern European countries (EEU) vis-à-vis the Western Member States of EU (WEU). The EEU provides a unique sample to study the quality of financial reporting that the authors measure with classification shifting given that for more than five decades they were following the model of a centrally planned economy, where market-based financial reporting was absent. Yet, the EEU transitioned to a market-based economy and completed its accession to the EU.

This study uses a panel data set of firm year observations from 1996 and 2020 that covers the full transition of EEU. This empirical analysis is based on fixed effects panel regression analysis where the authors report a plethora of identifications.

This study finds classification shifting in the EEU countries since their transition to the market-based economy, though they have no long record of market-based financial reporting. This study also notices that cultural factors are associated with classification shifting across all Member States of the EU. This study further examines the impact of interactions between cultural characteristics and special items and reveal variability between WEU and EEU. As part of the robustness analysis, this study also tests the impact of culture on real earnings management measures for both WEU vs EEU, confirming the variability of the impact of culture on earnings management.

Future research could explore the role of religion differences in WEU vis-à-vis EEU states, as they are also subject to cultural differences.

The findings are important for regulators, external monitors and investors, as they show that cultural factors affect earnings management with some variability across countries in the EU, and they should be acknowledged in policymaking.

The findings show that cultural differences between EEU and the “old” Member States of the EU could explain classification shifting.

To the best of the authors’ knowledge, this is the first study that sheds light on the impact of national culture on classification shifting in EEU of EU vis-à-vis the “old” WEU of EU.

The purpose of this study is to extend the Fraud Diamond Theory to celebrity Special Purpose Acquisition Companies (SPACs) and investigate their post-Initial Public Offering (IPO) stock market performance.

After obtaining a sample of celebrity SPACs from the Spacresearch.com database, fraud risk characteristics were obtained from Lexis Nexus searches. Buy and hold abnormal returns were calculated for celebrity SPACs versus a small-cap equity benchmark for time intervals after IPO, and multiple regression analysis was performed to examine the relationship between fraud risk features and post-IPO returns.

Celebrity SPACs exhibit Fraud Diamond characteristics and significantly underperform a small-cap stock portfolio on a risk-adjusted basis after IPO.

This study only examines celebrity SPACs that conducted IPOs on the NYSE and NASDAQ/AMEX and does not include those that are traded on the Over the Counter Bulletin Board (OTCBB).

Celebrity endorsement of SPAC vehicles attracts investors who may not be properly informed regarding the risk characteristics of SPACs. Accordingly, investors should be warned that celebrity SPACs underperform a small-cap equity portfolio and exhibit significant elements of fraud risk.

The use of celebrity endorsement as a marketing device to attract investment in SPACs has regulatory implications.

To the best of the authors’ knowledge, this paper is the first to examine the fraud risk characteristics and post-IPO performance of celebrity SPACs.

The COVID-19 pandemic has prompted the fast growth of online music festivals. This paper explores how festivalgoers' experience affects their satisfaction and drives their loyalty to re-attend online music festivals in China.

Based on an understanding of the music festival experience and the characteristics of live-streamed performances, this paper investigates five factors that affect festivalgoers' satisfaction and loyalty, namely the music experience, ambience experience, separation experience, social experience and novelty experience. The relationships between festivalgoers' experience, satisfaction and loyalty are also explored using structural equation modelling techniques.

The empirical results suggest that four of the above-mentioned five factors of the online music festival experience directly affect festivalgoers' satisfaction and loyalty. The online mode is a rapid adaptation of and preferred alternative to offline music festivals, whilst the creation of the experience, along with satisfaction with and loyalty to the online music festival, are determined by different factors compared to offline modes. Overall festival satisfaction positively enhances the relationship between festivalgoers' experience and loyalty to online music festivals.

This study offers a range of practical and managerial implications for organisers of online music festival, similar activities such as live-streaming concerts and stage performances and hybrid events.

This study explores a phenomenon that has evolved quickly since COVID-19 and will, potentially, have an ongoing and enduring impact on the music festival sector. It differentiates the understanding of festivalgoers' experience in online and offline modes, which is a new addition to the literature. It also enriches the theoretical understanding of the experience of, satisfaction with and loyalty to online music festivals.

This study delves into the psychological processes underlying sport fans' post-purchase innovativeness behaviour. This exploratory research aims to establish a theoretical framework that elucidates the formation of sport fans' word-of-mouth (WOM) behaviours, particularly emphasising the structural relationship between motivated consumer innovativeness and satisfaction in using AR live-streaming services.

Utilising an online survey and convenience sampling, the study garnered a total of 243 usable responses from three online baseball fan communities in South Korea. Confirmatory factor analysis was employed to assess the psychometric properties of the constructs. Subsequently, a structural equation model was used to probe the influence of motivated consumer innovativeness on WOM, with a particular focus on the mediating role of satisfaction.

Three dimensions of motivated sport fans innovativeness – functional, hedonic and cognitive – showed a positive association with WOM, partly mediated by satisfaction. In contrast, socially motivated sport fans innovativeness did not directly lead to WOM but influenced it solely through satisfaction. The full mediating role of satisfaction in the relationship between socially motivated fans innovativeness and WOM was found.

This research stands out as one of the scant studies exploring motivated sport fans innovativeness in the context of AR live sport streaming. The findings not only corroborate but also augment the extant literature by empirically confirming that three dimensions of motivated fans innovativeness, coupled with satisfaction, are pivotal antecedents to WOM intention.