ISSN: 2222-6990
Open access
This empiricalstudy examinesthe effect of sports sponsorship announcements (SSA) on the share price (SP) of the sponsoring firm(Habib Bank Limited) by examiningnormal/actual returns, abnormal returns and expected returns.For this purpose, secondary data was collected ten days before & afterSP of HBL from SSA and utilized window-based methodology to accomplish the actual outcomes. The results ofthis window-based study showsthat SSA has a significant impact onSPof HBLand also positively impact onstock returnsof HBL. Besides,if comparatively visualize the consequences then market return (MR) ofHBL isslightly higher than the Karachi stockexchange KSE-100 index return. This study suggests thatsponsoring the sports events enhances the market capitalization and stock returns of sponsoring firms.
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In-Text Citation: (Naveed et al., 2020)
To Cite this Article: Naveed, H. M., Hongxing, Y., Haris, M., Hussain, K., Altaf, S., Naveed, H. M., Hongxing, Y., Haris, M., Altaf, S., & Khalid, M. (2020). Impact of Sports Sponsorship on Share Prices of Sponsoring Firm: Evidence from Pakistan Supper League (PSL). International Journal of Academic Research in Business and Social Sciences, 10(6), 268–283.
Copyright: © 2020 The Author(s)
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