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Stadium naming rights programs have proliferated over the past decade, yet we have no direct evidence that these types of sponsorship programs help companies develop their…
Stadium naming rights programs have proliferated over the past decade, yet we have no direct evidence that these types of sponsorship programs help companies develop their long-term brand equity or even provide a short-term boost to corporate value. This paper examines the impact that naming rights programs have had on the stock values of the corporate sponsors. Using event study analysis, it is found that there are mixed responses to these types of programs. A discussion is provided which helps to explain the mixed results and provides communications mangers with some suggestions on creating more effective naming rights programs.
In this article, we try to extend previous research on socially responsible practices by investigating the effectiveness of the environmental communication of an…
In this article, we try to extend previous research on socially responsible practices by investigating the effectiveness of the environmental communication of an organization. The work is mostly based on the results of a qualitative research about the environmental efforts of a supermarket chain, particularly through its replacement strategy of nylon bags by biodegradable ones. There are many studies in the marketing literature on corporate environmentalism emphasizing the advantages of communicating the socially responsible practices (Detchessahar, 2001; Gabriel, 2003; Kolk, 2000; Krogh and Roos, 1995) but there are also risks related to communication strategy. Therefore, it is very crucial to know the possible impacts of this kind of communication in order to be successful in the market (Brown and Dacin, 1997; Creyer and Ross, 1997; Sen and Bhattacharya, 2001). The impact of this communication has to be analyzed by different points of view such as the consumers, the employees and the managers. The results of this study will provide various managerial insights and recommendations for companies willing to succeed in their socially responsible actions as the responsible business practices can build sales, develop the workforce, boost enthusiasm, and enhance trust in to the company by increasing its reputation.
The increase in environmental consciousness around the world since 1970's pushed firms to engage in socially responsible behaviors. The Corporate Social Responsibility…
The increase in environmental consciousness around the world since 1970's pushed firms to engage in socially responsible behaviors. The Corporate Social Responsibility (CSR) has naturally gained attention in the academic and business world (Colvin, 2001; Harrison & Freeman, 1999; Sen & Bhattacharya, 2001; Waddock & Smith, 2000). The reasons for these socially responsible behaviors are not only the external obligations or regulatory compliance but also the firms desire to increase competitiveness, to improve stock market performance (Bansal & Roth, 2000; Drumwright, 1994, 1996; Klassen & Mclaughlin, 1996; Russo & Fouts, 1997; Waddock & Smith, 2000) and to create a positive self‐image among consumers. There have been numerous studies on CSR suggesting a link between social initiatives and consumer's positive product and brand evaluations, brand choice and brand recommendations (Brown & Dacin, 1997; Drumwright, 1994; Handelman & Arnold, 1999; Osterhus, 1997; Sen & Bhattacharya, 2001). Moreover, the consumers are continuing to become more interested in CSR and green product market is fast growing so the use of CSR initiatives by the firms to receive the support of the society and to influence consumer behavior has become quite common. However, these socially responsible steps must also have an effect on corporations' major objective: maximizing the profits.