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dc.contributor.authorJaikumar, Saravana
dc.contributor.authorPingali, Viswanath
dc.contributor.authorVirmani, Vineet
dc.date.accessioned2021-05-28T09:41:55Z
dc.date.available2021-05-28T09:41:55Z
dc.date.issued2019
dc.identifier.citationJaikumar, S., Pingali, V., & Virmani, V. (2019). Shareholders’ reaction to ethical image of sports teams: an event study in the Indian Premier League. Decision, 46(4), 283-300. doi:https://doi.org/10.1007/s40622-019-00230-9en_US
dc.identifier.issn03040941 (Print)
dc.identifier.issn21971722 (Online)
dc.identifier.urihttp://hdl.handle.net/11718/23929
dc.description.abstractUsing event study analysis on a sports team and parent firm in the Indian Premier League, we show that investors react adversely to: (1) unethical but legal activity that may have a positive impact on the firm’s value and (2) unethical and illegal activity that does not necessarily impact the day-to-day performance of the firm. We use the novel sample quantiles test to analyze the events in a ‘single-firm single-event’ context. Results suggest that investors are sensitive to and care about the ethical image of the sports team and parent firm. Further, when the parent firm’s core function is unrelated to the sport, the performance of the team may not have a significant impact on the firm’s valuation. We also make a broader contribution wherein we provide direct evidence linking unethical activities with negative valuation, while ruling out the rent-seeking explanation.en_US
dc.language.isoenen_US
dc.publisherDECISIONen_US
dc.subjectCorporate imageen_US
dc.subjectCorporate reputationen_US
dc.subjectEthicsen_US
dc.subjectIndian Premier Leagueen_US
dc.subjectEvent studyen_US
dc.titleShareholders’ reaction to ethical image of sports teams: an event study in the Indian Premier Leagueen_US
dc.typeArticleen_US


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