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This empiricalstudy examinesthe effect of sports sponsorship announcements (SSA) on the share price (SP) of the sponsoring firm(Habib Bank Limited) by examiningnormal/actual returns, abnormal returns and expected returns.For this purpose, secondary data was collected ten days before & afterSP of HBL from SSA and utilized window-based methodology to accomplish the actual outcomes. The results ofthis window-based study showsthat SSA has a significant impact onSPof HBLand also positively impact onstock returnsof HBL. Besides,if comparatively visualize the consequences then market return (MR) ofHBL isslightly higher than the Karachi stockexchange KSE100 index return. This study suggests thatsponsoring the sports events enhances the market capitalization and stock returns of sponsoring firms.

Impact of Sports Sponsorship on Share Prices of Sponsoring Firm: Evidence from Pakistan Supper League (PSL)