Impact of NFL Players’ Off-field Misconduct on Sponsorship Returns
Date of Award
Bachelor of Arts
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.
Chen, Yuanding, "Impact of NFL Players’ Off-field Misconduct on Sponsorship Returns" (2018). Economics Student Theses and Capstone Projects. 87.