Researchers reveal how NFL game outcomes affect stock returns of stadium sponsors

An examination of NFL stadium sponsorships and sponsors' stock returns finds that immediately following high-interest games, the stadium sponsoring companies celebrate or suffer their own financial wins or losses, depending on the performance of the home team. It's believed this market reaction, at least in part, is a result of sentimental investing. The research by Assaf Eisdorfer, an associate professor of finance in the University of Connecticut's School of Business, and Elizabeth Kohl, an assistant professor of accounting in the University of Cincinnati's Carl H. Lindner College of Business, is viewable online in an upcoming issue of the academic journal, Critical Finance Review.

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