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Do FIFA sponsors get paid? Evidence from affiliated parties

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  • Liu, Hao
  • Bai, Bing

Abstract

Competition to become a FIFA sponsor is fierce. This research aims to uncover whether firms indeed earn economic returns by becoming sponsors. Based on a dataset of listed companies between 2000 and 2024, we offer compelling evidence that FIFA sponsors enjoy higher stock returns, faster revenue growth, more trade credit, and lower cost of capital. This finding is robust to a battery of robustness and endogeneity analyses. Our study sheds light on the rationale for firms to compete for FIFA sponsors, thereby contributing to the literature on the intersection of the sports industry and finance.

Suggested Citation

  • Liu, Hao & Bai, Bing, 2026. "Do FIFA sponsors get paid? Evidence from affiliated parties," Finance Research Letters, Elsevier, vol. 88(C).
    • Handle: RePEc:eee:finlet:v:88:y:2026:i:c:s1544612325022809
    DOI: 10.1016/j.frl.2025.109031
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    References listed on IDEAS

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