Timothy Koba

Date of Award

Summer 2020

Document Type

Open Access Dissertation


School of Hotel, Restaurant and Tourism Management

First Advisor

Mark Nagel


Mega sporting event hosting and sponsorship garner billions of dollars in investments from countries and companies, but their effectiveness has yet to be definitively determined. If the announcement of a host country serves as a signal to the investors who comprise a market, then there should be an increased return in response to the announcement. Similarly, if companies are activating their sponsorships during a sporting event there may be a higher return than what would be expected otherwise. The evaluation of the 2016 Summer Olympic Games held in Rio de Janeiro demonstrates that the announcement did not impact the market of Brazil, or of the other countries who were under consideration using rate of return, log returns and seemingly unrelated regression models. There were abnormal cumulative abnormal returns that may indicate that it takes time for mega-events to exert an economic benefit. Further evaluation using similar techniques for the sponsoring companies of different levels did not demonstrate a difference in returns based on sponsorship, but did indicate that brand affiliation has a negative effect and being a sport company has a positive effect. These results further the academic literature regarding market perspectives and sport mega-events.