IJSF Issue 10:2

Contents for IJSF Issue 10:2

IJFS 10:2 whole issue
Authors: Preethika Sainam, Sridhar Balasubramanian, Barry L. Bayus, Jie Xu, Hojun Sung, Scott Tainsky, Michael Mondello, Brad R. Humphreys, Jane E. Ruseski, Bill M. Woodland, Linda M. Woodland, Dean V. Baim, Levon Goukasian, and Marilyn B. Misch
Abstract:International Journal of Sport Finance, Volume 10, No. 2, May 2015.

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Consumer Forwards: Concept and Empirical Analysis of a Sports Ticket Market, pp. 103-121
Authors: Preethika Sainam, Sridhar Balasubramanian, and Barry L. Bayus
Abstract:Tickets to sports events like the NCAA basketball tournament are currently sold well in advance of the games. Fans who wait to purchase a ticket after knowing which teams will play are often disappointed because the tickets are sold out by then. Recently, some firms have offered fans the opportunity to purchase forwards on tickets before this uncertainty is resolved. Each purchased forward is linked to a team – if that team makes it, the fan must buy the ticket; otherwise, the forward expires. Such forwards protect fans from uncertainty and provide the firm with assured revenues. This paper presents an analysis of data from a company that offers forwards in a sports ticket market. Multiple models that account for fan heterogeneity are presented to capture forward purchase and resale behaviors. The analysis and findings shed light on how fans mitigate risk in this volatile setting and lay a foundation for future work on consumer forwards.

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Tale of Three Cities: Intra-Game Ratings in Winning, Losing, and Neutral Markets, pp. 122-137
Authors: Jie Xu, Hojun Sung, Scott Tainsky, and Michael Mondello
Abstract:This research examines the within-game television ratings of regular season NFL games across three distinct viewership markets. Specifically, we operationalize our markets as follows—winning market denotes that of the team winning the game, losing market denotes the market of the losing squad, and all other markets where the game was broadcast were pooled in the neutral market category. Our modeling demonstrates that ratings changes attributable to scoring margin are essentially similar in neutral and losing markets, but different than winning markets. Implications related to the NFL’s policy on televising uncompetitive games in neutral markets are further examined, concluding that the relationship between final scoring margin and audience interest is nuanced.

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The Economic Choice of Participation and Time Spent in Physical Activity and Sport in Canada, pp. 138-159
Authors: Brad R. Humphreys and Jane E. Ruseski
Abstract:Canadian Sport Policy calls for an increase in the number and diversity of Canadians participating in sport between 2012-2022 (Canadian Sport Policy, 2012). Understanding the determinants of physical activity and sport participation is central to achieving this objective. We estimate double hurdle models to analyze the individual determinants of physical activity in Canada. Separate consideration of participation and time spent decisions is important for untangling the effects of income, age, gender, and family structure on choices. Income is positively associated with participation in swimming, golfing, weight lifting, and running. Time spent walking, exercising at home, golfing, weight lifting, and running decreases with income. Wage rates are generally positively associated with participation and time spent.

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Testing Profitability in the NBA Season Wins Total Betting Market, pp. 160-174
Authors: Bill M. Woodland and Linda M. Woodland
Abstract:Sports betting markets continue to receive considerable attention from researchers regarding questions of market efficiency. The vast majority of papers have tested these markets with respect to the outcome of a single game. This article is the first to examine the National Basketball Association (NBA) season wins total over/under betting market. Woodland and Woodland (2013) investigated the analogous market for the National Football League (NFL), and found it to be sufficiently inefficient to provide bettors with profitable wagering opportunities. Betting rules are motivated by bettor biases in assessing publicly available information. Although the NBA season wins total market is slightly more efficient than the NFL, profitable betting strategies are still available for both the over and under bets. Individuals tend to overvalue a team’s performance in the previous season and demonstrate a sentiment bias, with a preference towards stronger teams.

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Olympic Sponsorships, Stock Prices, and Trading Activity, pp. 175-195
Authors: Dean V. Baim, Levon Goukasian, and Marilyn B. Misch
Abstract:Using event study methodology, this paper analyzes the capital market behavior related to shares of companies that sponsored the London 2012 Summer Olympic Games. We investigate the existence of abnormal returns and changes in trading volumes on announcement dates for companies at two sponsorship levels—Official Olympic Partners and Official Olympic Supporters. We also test for differential responses between British and non-British firms. We find that London 2012 Olympic sponsorships are associated with statistically significant increased share values for Official Partners as well as for British companies. We also observe that British sponsors, as a whole, had significantly higher than average trading volume on announcement dates. Furthermore, trading volumes for British firms were significantly greater than for non-British firms. Finally, we evaluate the possibility of principal-agent conflicts. In contrast to other research, we do not find evidence that agency issues influence the decision to become an Olympic sponsor.

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