The impact of e-sports championships on stock prices of sponsoring companies

This paper studies the impact of esports matches results on the dynamics of sponsoring companies shares. Statistics on three main esports leagues is reviewed: Defense of the Ancient 2, League of legends and Counter Strike: Global Offensive, with Samsung, MegaFon, Intel, HTC corporation, MSI, Asus, Comcast Xfinity, Logitech, Lenovo, BMW, Honda, AMD and a number of several lesser-known companies as sponsors. The study will test the assumption concerning the growth of share prices of the companies sponsoring esports events. Another purpose of the study is to identify the most profitable esports teams and championships. The work will also include an event analysis designed to answer the question of which leagues for which sponsor companies may be preferable in terms of return on investment and why. In particular, the event window will be considered in the context of the teams in middle places, as well as in the context of the winners and losers in a particular esports league. In addition, all sponsors will be divided into their production areas to track the impact of the industry factor. The main result is that the profitability of companies associated with the video game industry will have low correlation with the outcomes of matches of esports teams. The findings show that if a team has the least number of sponsors, there is a greater return on shares than for other teams with a greater number of sponsors.