IJSF Issue 7:3

Contents for IJSF Issue 7:3

Entire issue of IJSF 7:3
Authors: Brad R. Humphreys, Craig A. Depken, II, Robert J. Sonora, Dennis P. Wilson, Matthias Reiser, Christoph Breuer, Pamela Wicker, Neil Longley, Ruud H. Koning
Abstract:This is the entire issue in PDF format that you can download

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Guest Editor’s Introduction, pp. 211-212
Authors: Brad R. Humphreys
Abstract:This special issue of the International Journal of Sport Finance (IJSF) features a selection of papers from the European Sports Economics Association’s (ESEA) third Conference on Sports Economics, which was held May 17-18 in Prague, Czech Republic. The conference, which was held jointly with the International Association of Sports Economists, featured 61 papers that were accepted for presentation by the ESEA Scientific Committee. The articles in this special issue were identified based on input from the ESEA and the editors of the IJSF. All papers in this issue were peer reviewed and subject to the same standards as regular submissions to the IJSF.

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Performance Under Pressure: Preliminary Evidence from the National Hockey League, pp. 213-231
Authors: Craig A. Depken, II, Robert J. Sonora, and Dennis P. Wilson
Abstract:Emotions can have important effects on performance and economic outcomes. This study examines the behavior of professional athletes involved in a dynamic competition in their own natural environment. We empirically analyze overtime shootouts in the National Hockey League in the context of performance under psychological pressure as initially outlined and tested by Apesteguia and Palacios-Huerta (2010) in international soccer. We find no team-level advantage in NHL shootouts for either the first shooting, second shooting, or home team, suggesting that the influence of pressure is not consistent across the two sports of hockey and soccer. However, shot level analysis indicates that on average there is an advantage to shooting second, or equivalently, a disadvantage to being the second goalkeeper. Because there is a much greater natural advantage to the goalkeeper in a hockey shootout than in a soccer shootout, the preliminary results suggest that goalkeepers might perform slightly worse under pressure.

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The Sponsorship Effect: Do Sport Sponsorship Announcements Impact the Firm Value of Sponsoring Firms?, pp. 232-248
Authors: Matthias Reiser, Christoph Breuer, and Pamela Wicker
Abstract:This study analyzes the effect of sponsorship announcements on the firm value of sponsoring firms by investigating whether sponsorship announcements have an influence on abnormal returns on share prices. As previous research has neglected sponsorships from different regions and the comparison of sponsorships in different sports, a unique dataset of sponsorship deals between 1999 and 2010 is created (n=629). Using event study methodology the data is analyzed for all sports in general as well as for different sub-samples including soccer, motor sports, and different regions. The results of the event study provide evidence that sport sponsorship announcements positively impact stock returns, but this impact differs among sports and regions. The regression results reveal that abnormal returns are significantly higher for sponsorships on brand level, smaller firms, and deals with national reach. The findings have implications for corporate managers and sport managers as equilibrium prices for sponsorship deals have not yet been reached.

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The Impact of International Competitions on Competitive Balance in Domestic Leagues: The Case of the National Hockey League’s Participation in the Winter Olympics, pp. 249-261
Authors: Neil Longley
Abstract:This paper analyzes the impact of the NHL’s participation in the Winter Olympics on competitive balance outcomes within the NHL. It finds that the post-Olympic performance of NHL teams is negatively related to the number of players that the team supplied to the various Olympic rosters. This is consistent with a notion that participating in the Olympics can induce greater fatigue in players, thereby reducing their effectiveness upon their return to their domestic clubs. This effect was found to be particularly strong for players representing the host country at the Olympics.

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Regression Tests and the Efficiency of Fixed Odds Betting Markets, pp. 262-274
Authors: Ruud H. Koning
Abstract:The informational content of odds posted in sports betting market has been an ongoing topic of research. In this paper, I test whether fixed odds betting markets in soccer are informationally efficient. The contributions of the paper are threefold: first, I propose a simple yet flexible statistical test to assess efficiency. Second, this test is applied to fixed odds betting markets in 10 different countries, and multiple seasons. Thereby, the empirical scope of the paper is much wider than that of research published so far. Finally, I examine significance of one variable that has received little attention in the literature so far: returns on earlier bets of the contestants.

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