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The impact of sponsorship announcements on share prices in South Africa
Dissertation (MBA)--University of Pretoria, 2012.
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| Format: | Thesis |
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University of Pretoria
2013
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| _version_ | 1867613560235884544 |
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| access_status_str | Open Access |
| author2 | Goldman, Michael Maurice [ |
| author_browse | Goldman, Michael Maurice [ |
| author_facet | Goldman, Michael Maurice [ |
| collection | Thesis |
| dc_rights_str_mv | © 2011, University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretoria. |
| description | Dissertation (MBA)--University of Pretoria, 2012. |
| format | Thesis |
| id | oai:repository.up.ac.za:2263/26289 |
| institution | University of Pretoria (South Africa) |
| last_indexed | 2026-06-10T12:38:04.955Z |
| license_str | Other — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from UPSpace — University of Pretoria Institutional Repository |
| publishDate | 2013 |
| publishDateRange | 2013 |
| publishDateSort | 2013 |
| publisher | University of Pretoria |
| publisherStr | University of Pretoria |
| record_format | dspace |
| source_str | UPSpace — University of Pretoria Institutional Repository |
| spelling | oai:repository.up.ac.za:2263/26289 The impact of sponsorship announcements on share prices in South Africa Goldman, Michael Maurice [ ichelp@gibs.co.za Kruger, Thomas Stephanus UCTD Efficient market hypothesis Behavioural finance Share price Sponsorship Efficient market hypothesis (emh) Dissertation (MBA)--University of Pretoria, 2012. Much has been written, by academics, about the impact sponsorship announcements have on the share price performance of sponsoring firms. The objective of this study was to investigate if this phenomenon was true for JSE listed companies with particular focus on three announcement categories i.e. (i) new, (ii) renew and (iii) termination. The Efficient Market Hypothesis as an aspect of Investment Finance behaviour was explored to understand why sponsorship announcements would or would not have an impact on the share price performance. For this study, descriptive research was done with a causal design as the study tested the relationship between two or more variables. The study analysed 118 sponsorship announcements made by 19 JSE listed companies over a period of eleven years and five months. The study then assessed the share price performance for the period 120 days prior to and 120 days after the announcement date. The share price holding periods were adjusted for that of the average Financial Services (J212) Index, the Industrial (J212) Index and the Resources (J258) Index respectively to ascertain whether the returns were abnormal or not. The results have shown that there were no evidence that the announcement of a (i) new, (ii) renewed or (iii) terminated sponsorship do have a significant impact on the performance of share prices for JSE listed companies. Gordon Institute of Business Science (GIBS) unrestricted 2013-09-07T04:22:01Z 2012-09-21 2013-09-07T04:22:01Z 2012-03-08 2012-09-21 2012-07-14 Dissertation Kruger, TS 2011, The impact of sponsorship announcements on share prices in South Africa, MBA dissertation, University of Pretoria, Pretoria, viewed yymmdd < http://hdl.handle.net/2263/26289 > F/12/4/678 /zw http://hdl.handle.net/2263/26289 http://upetd.up.ac.za/thesis/available/etd-07142012-193550/ © 2011, University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretoria. application/pdf University of Pretoria |
| spellingShingle | UCTD Efficient market hypothesis Behavioural finance Share price Sponsorship Efficient market hypothesis (emh) The impact of sponsorship announcements on share prices in South Africa |
| title | The impact of sponsorship announcements on share prices in South Africa |
| title_full | The impact of sponsorship announcements on share prices in South Africa |
| title_fullStr | The impact of sponsorship announcements on share prices in South Africa |
| title_full_unstemmed | The impact of sponsorship announcements on share prices in South Africa |
| title_short | The impact of sponsorship announcements on share prices in South Africa |
| title_sort | impact of sponsorship announcements on share prices in south africa |
| topic | UCTD Efficient market hypothesis Behavioural finance Share price Sponsorship Efficient market hypothesis (emh) |
| url | http://hdl.handle.net/2263/26289 http://upetd.up.ac.za/thesis/available/etd-07142012-193550/ |