Corporate stadium sponsorships, signaling theory, agency conflicts, and shareholder wealth

Contrary to the plethora of critical articles recently appearing in both the popular and business press, this carefully controlled investigation of 49 stadium- and arena-naming-rights agreement announcements provides striking evidence that such sponsorships can significantly enhance the stock prices of sponsoring companies. Indeed, the results of the study show that the average stadium sponsor's stock prices increased by 1.65 percent at the time of announcement of the programs-a result considerably in excess of the returns associated with other major marketing programs such as the signing of Olympic sponsorships and celebrity endorsers. A multiple regression analysis employing firm-specific changes in stock prices as the dependent variable and quantifiable corporate and sponsorship-related attributes as independent variables is also presented. Variables positively and significantly correlated with perceived sponsorship success include team-winning percentages, contract length, and high technology and locally based companies. Overall, the findings of the study are consistent with the novel hypothesis that, for some firms, the real value-added of a stadium sponsorship may lie in its ability to serve as an effective or honest signal of managerial confidence in the future of the company.

The effects of consumer knowledge on responses to event sponsorships

Research into consumer responses to event sponsorships has grown in recent years. However, the effects of consumer knowledge on sponsorship response have received little consideration. Consumers' event knowledge is examined to determine whether experts and novices differ in information processing of sponsorships and whether a sponsor's brand equity influences perceptions of sponsor-event fit. Six sponsors (three high equity/three low equity) were paired with six events. Results of hypothesis testing indicate that experts generate more total thoughts about a sponsor-event combination. Experts and novices do not differ in sponsor-event congruence for high-brand-equity sponsors, but event experts perceive less of a match between sponsor and event for low-brand-equity sponsors. (C) 2004 Wiley Periodicals, Inc.

Desperately seeking the global subject: international education, citizenship and cosmopolitanism

This article takes the case of international education and Australian state schools to argue that the economic, political and cultural changes associated with globalisation do not automatically give rise to globally oriented and supra-territorial forms of subjectivity. The tendency of educational institutions such as schools to privilege narrowly instrumental cultural capital perpetuates and sustains normative national, cultural and ethnic identities. In the absence of concerted efforts on the part of educational institutions to sponsor new forms of global subjectivity, flows and exchanges like those that constitute international education are more likely to produce a neo-liberal variant of global subjectivity.

World Association for the Advancement of Veterinary Parasitology (WAAVP) guidelines for evaluating the efficacy of acaricides against ticks (Ixodidae) on ruminants

These guidelines have been prepared to assist in the planning, conduct and interpretation of studies for the assessment of the efficacy of acaricides (excluding vaccines and other bio-control agents) against single and multi-host ticks (Ixodidae) on ruminants. Information is provided on the selection of animals, dose determination, dose confirmation and field studies, record keeping and result interpretation. The use of pen facilities is advocated for dose determination and confirmation studies for defining therapeutic and persistent efficacy. A minimum of two studies per tick species for which claims are sought is recommended for each dose determination and dose confirmation investigation. If dose confirmation studies demonstrate greater than 95% efficacy the sponsor may proceed to field studies, where a minimum of two studies per geographical location is preferred to confirm the therapeutic and persistent efficacy under field conditions. If dose confirmation studies demonstrate less than 95% efficacy then longer-term field studies can be conducted over two tick seasons with a minimum of two studies per geographical location. These studies can incorporate other control methods such as tick vaccines, to demonstrate stable long-term tick management. Specific advice is also given on conducting studies with paralysis ticks. These guidelines are also intended to assist investigators on how to conduct specific experiments, to provide specific information for registration authorities involved in the decision-making process, to assist in the approval and registration of new acaricides, and to facilitate the worldwide adoption of standard procedures. (c) 2005 Elsevier B.V. All rights reserved.

Sponsorship-linked marketing: The role of articulation in memory

Corporate sponsorship of events contributes significantly to marketing aims, including brand awareness as measured by recall and recognition of sponsor-event pairings. Unfortunately, resultant advantages accrue disproportionately to brands having a natural or congruent fit with the available sponsorship properties. In three cued-recall experiments, the effect of articulation of sponsorship fit on memory for sponsor-event pairings is examined. While congruent sponsors have a natural memory advantage, results demonstrate that memory improvements via articulation are possible for incongruent sponsor-event pairings. These improvements are, however, affected by the presence of competitor brands and the way in which memory is accessed.