Impact of NFL Players’ Off-field Misconduct on Sponsorship Returns

Date of Award

2018

Document Type

Thesis

Degree Name

Bachelor of Arts

Department

Economics

First Advisor

Qi Ge

Abstract

This paper studies the impact of NFL players’ off-field misconduct on their personal and stadium sponsors’ stock returns. The data of this study contains all the NFL players’ offfield misconduct incidents from 2000 to 2017, and sponsor stock returns data are from public companies traded in the New York Stock Exchange and the NASDAQ. An event study analysis is performed to quantify the financial impact of NFL players’ off-field misconduct. Also, several OLS regressions are employed to find the determinants of the impact. The event study analysis does not reveal any statistically significant result, while the regression results show that the incident team’s reaction is correlated with the financial impact of the incident on the related stadium sponsors. In addition, my findings provide some evidence of broader reputation risks of athletes’ off-field behaviors.

Comments

Embargo: 1 year

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