近幾年來，贊助行銷是企業所運用的行銷方法中成長最快速的，全球的贊助金額逐年攀升，其中，運動賽事的贊助費用占全球金額的比例高達69%，而過往研究亦指出贊助行銷有利於品牌建立與銷售額提升，因此本研究希望針對奧運賽事的贊助，驗證贊助金額與品牌權益、銷售額的關係。
景氣循環與廣告支出存在負相關，當景氣下滑，投入越多廣告支出，效益越好；相反的，企業成長機會、廣告支出與企業績效表現間為正向關係。因此，本研究欲探討景氣循環與企業成長機會如何干擾贊助金額對品牌權益、銷售額。此外，同業競爭者採取伏擊式行銷時，將模糊消費者對於贊助商品牌的印象，減損贊助行銷之效益，故本研究將討論同業競爭策略是否干擾贊助金額對品牌權益、銷售額。
為驗證上述研究目的，本研究參考相關文獻，建立研究架構並蒐集次級資料，以探討贊助金額與品牌權益、銷售額之關係，和景氣循環、企業成長機會與同業競爭策略之干擾效果。樣本共計67份，分析資料所得的結論如下：
1.贊助金額等級越高，品牌權益提升越多，但贊助金額等級與銷售額無顯著關係。
2.景氣循環並未顯著干擾贊助金額等級與品牌權益、銷售額之關聯性。
3.企業成長機會正向干擾贊助金額等級與品牌權益、銷售額之關聯性。
4.伏擊式行銷負向干擾贊助金額等級對銷售額之影響，但未顯著干擾與品牌權益之關聯性。

Sponsorship has been the most rapidly growing method of marketing in the past 30 years, and the previous literatures found that sponsorship is good for the brand and financial performance of sponsors. Therefore, this study is trying to investigate whether the expenditure of sport sponsorship will influence brand equity and sales. Moreover, we will evaluate the moderating effect of economic cycle, firms’ growth opportunities and ambush marketing. In order to understand above topics, we examined corresponding references, established research framework, and analyzed 67 secondary data. The conclusions are as follows: (1) The higher the expenditure of sport sponsorship, the more the brand equity increases. However, the expenditure of sport sponsorship does not have significant impact on sales. (2) The moderating effect of economic cycle is not significant on brand equity and sales. (3) Firms’ growth opportunities positively influence the relationship between sponsorship expenditure, brand equity, and sales. (4) Ambush marketing decreases the impact of sponsorship expenditure on brand equity, but does not have significant moderating effect on sales.

網站部分
International Events Group http://www.sponsorship.com/
Interbrand Group http://interbrand.com/en/Default.aspx
Official Website of the Olympic Movement http://www.olympic.org/
中文部分
吳萬益 (民100年)，企業研究方法(第四版)，台北：華泰文化。
李德治、童惠玲 (民99年)，多變量統計分析:專題及論文常用的統計方法(第一版)，台北：雙葉書廊。
周文賢 (民93年)，多變量統計分析:SAS/STAS 使用方法(第二版)，台北：智勝文化。
英文部分
Aaker, D. A. (1991). Managing brand equity. San Francisco: Free Press
Adam, T., & Goyal, V. K. (2000). The investment opportunity set and its proxy variables: theory and evidence. Working paper, Hong Kong University of Science and Technology.
Ailawadi, K. L., Lehmann, D. R., & Neslin, S. A. (2003). Revenue premium as an outcome measure of brand equity. Journal of Marketing, 67(4), 1–17.
Asquith, P., & Mullins, D. (1986). Signaling with dividends, stock repurchases and equity issues. Financial Management, 15(3), 27–44.
Bennett, R. (1999). Sports sponsorship, spectator recall and false consensus. European Journal of Marketing, 33(3/4), 291–313.
Billett, M. T., King, T. H. D., & Mauer, D. C. (2007). Growth opportunities and the choice of leverage, debt maturity, and covenants. The Journal of Finance, 62(2), 697–730.
Calderon-Martinez, A., Mas-Ruiz, F. J., & Nicolau-Gonzalbez, J. L. (2005). Commercial and philanthropic sponsorship: direct and interaction effects on company performance. International Journal of Market Research, 47(1), 75–99.
Chu, S., & Keh, H. T. (2006). Brand value creation: analysis of the Interbrand-Business Week brand value rankings. Marketing Letters, 17(4), 323–331
Clark, J. M., Cornwell, T. B., & Pruitt, S. W. (2002). Corporate stadium sponsorships, signalling theory, agency conflicts, and shareholder wealth. Journal of Advertising Research, 42(6), 16–32.
Clark, J. M., Cornwell, T. B., & Pruitt, S. W. (2009). The impact of title event sponsorship announcements on shareholder wealth. Marketing Letters, 20(2), 169–182.
Cliffea, S. J., & Motion, J. (2004). Building contemporary brands: a sponsorship-based strategy. Journal of Business Research, 58(8), 1068–1077.
Cobbs, J., Groza, M. D., & Pruitt, S. W. (2012). Warning flags on the race track: the global markets' verdict on formula one sponsorship. Journal of Advertising Research, 52(1), 74–86.
Collins, W. A., & Kothari, S. P. (1989). An analysis of intertemporal and cross-sectional determinants of earnings response coefficients. Journal of Accounting and Economics, 11, 143–182.
Cornwell, T. B. (2008). State of the art and science in sponsorship-linked marketing. Journal of Advertising, 37(3), 41-55.
Cornwell, T. B., & Maignan I. (1998). International review of sponsorship research. Journal of Advertising, 27(1), 1–21.
Cornwell, T. B., Roy, D. P., & Steinard II, E. A. (2001). Exploring managers' perceptions of the Impact of sponsorship on brand equity. Journal of Advertising, 30(2), 41–51.
Cornwell, T. B., Stephen W. P., & John, M. C. (2005). The relationship between major-League sports' Official sponsorship announcements and the stock prices of sponsoring firms. Journal of the Academy of Marketing Science, 33(4), 401–412.
Crompton, J. L. (2004). Sponsorship ambushing in sport. Managing Leisure, 9(1), 1–12.
Doyle, P. (1990). Building successful brands: The strategic options. Journal of Consumer Marketing, 7(2), 5–20.
Grohs, R., & Reisingerb, H. (In press). Sponsorship effects on brand image: The role of exposure and activity involvement. Journal of Business Research.
Grohs, R., Wagner, U., Vsetecka, S. (2004). Assessing the effectiveness of sport sponsorships – an empirical examination. Schmalenbach Business Review, 56(2), 119–138.
Gwinner, K. P., & Eaton, J. (1999). Building brand image through event sponsorships: The role of image transfer. Journal of Advertising, 28(4), 47–57.
Herremans, I. M., Ryans, J., & Aggarwal, R. (2000). Linking advertising and brand value. Business Horizons, 43(3), 19-26.
Joshi, A., & Hanssens, D. M. (2009). Movie advertising and the stock market valuation of studios: a case of “great expectations?” Marketing Science, 28 (2), 239–250.
Joshi, A., & Hanssens, D. M. (2010). The direct and indirect effects of advertising spending on firm value. Journal of Marketing, 74(1), 20–33.
Kamakura, W. A., & Russell, G. J. (1993). Measuring brand value with scanner data. International Journal of Research in Marketing, 10(1), 9–22.
Kamber, T. (2002). The brand manager’s dilemma: understanding how advertising expenditures affect sales growth during a recession. Journal of Brand Management, 10(2), 106 -121.
Keller, K. L. (1993). Conceptualizing, measuring, and managing consumer-based brand equity. Journal of Marketing, 57(1), 1-22.
Keller, K. L. (2003). Brand synthesis: The multidimensionality of brand knowledge. Journal of Consumer Research, 29(4), 595-600.
Kim, H. P., & Kim, W. G. (2005). The relationship between brand equity and firms’ performance in luxury hotels and chain restaurants. Tourism Management, 12(1), 549–560.
Kotler, P., Keller K. L., Ang, S. H., Leong, S. M., & Tan, C. T. (2013). Marketing management: an asian perspective (6th ed.). New York: Prentice Hall.
Lasfer, M. A. (1995). Agency costs, taxes, and debt: the UK evidence. European Financial Management, 1(3), 265–285.
Mazodier, M., & Merunka, D. (2012). Achieving brand loyalty through sponsorship: the role of fit and self-congruity. Journal of the Academy of Marketing Science, 40(6), 807–820.
Mazodier, M., Quester, P., & Chandon, J. L. (2012). Unmasking the ambushers: conceptual framework and empirical evidence. European Journal of Marketing, 46(1/2), 192–214.
Mazodier, M., & Rezaee, A. (2013). Are sponsorship announcements good news for the shareholders? Evidence from international stock exchanges. Journal of the Academy of Marketing Science, 41(6), 586–600.
Meenaghan, T. (1994). Point of view: Ambush marketing: Immoral or imaginative practice? Journal of Advertising Research, 34(5), 77–88.
Meenaghan, T. (1996). Ambush marketing – A threat to corporate sponsorship. Sloan Management Review, 38, 103-113.
Meenaghan, T. (2001). Sponsorship and advertising: a comparison of consumer perceptions. Psychology & Marketing, 18(2), 191–215.
Meenaghan, T. (2013). Measuring sponsorship performance: challenge and direction. Psychology & Marketing, 30(5), 385–393.
Morgan, N. A. (2012). Marketing and business performance. Journal of the Academy of Marketing Science, 40(1), 102–119.
Nicholls, J. A. F., Roslow, S., & Dublish, S. (1999). Brand recall and brand preference at sponsored golf and tennis tournaments. European Journal of Marketing, 33(3/4), 365–386.
Olson, E. L, & Thjømøe, H. M. (2009). Sponsorship effect metric: assessing the financial value of sponsoring by comparisons to television advertising. Journal of the Academy of Marketing Science, 37(4), 504–515.
Peterson, R. A., & Jeong, J. (2010). Exploring the impact of advertising and R&D expenditures on corporate brand value and firm-level financial performance. Journal of the Academy of Marketing Science, 38(6), 677–690.
Picard, R. G. (2001). Effects of recessions on advertising expenditures: An exploratory study of economic downturn in nine developed countries. Journal of Media Economics, 14(1), 1 – 14.
Pruitt, S. W., Cornwell, T. B., & Clark, J. M. (2004). The NASCAR phenomenon: auto racing sponsorships and shareholder wealth. Journal of Advertising Research, 44(3), 281–296.
Quester, P.G. (1997). Awareness as a measure of sponsorship effectiveness: the Adelaide Formula One Grand Prix and evidence of incidental ambush effects. Journal of Marketing Communications, 3(1), 1–20.
Quester, P. G., & Thompson, B. (2001). Advertising and promotion everage on arts sponsorship effectiveness. Journal of Advertising esearch, 41(1), 33–47.
Samitas,A., Kenourgios, D., & Zounis, P. (2008). Athens’ Olympic Games 2004 impact on sponsors’ stock returns. Applied Financial Economics, 18(19), 1569–1580.
Sandler, D., & Shani, D. (1989). Olympic sponsorship vs “ambush” marketing: Who gets the gold? Journal of Advertising Research, 29(4), 9–14.
Séguin, B., Lyberger, M.R., O’Reilly, N., & McCarthy, L. (2005). Internationalising ambush marketing: a comparative study. International Journal of Sports Marketing & Sponsorship, 6(4), 216–230.
Simon, C. J., & Sullivan, M. W. (1993). The Measurement and determinants of brand equity: a financial approach. Marketing Science, 12(1), 28–52.
Smith, C. W., & Watts, R. L. (1992). The investment opportunity set and corporate financing, dividend, and compensation policies. Journal of Financial Economics, 32, 263–292.
Srinivasan, R., Rangaswamy, A., & Lilien, G. L. (2005). Turning adversity into advantage: does proactive marketing during a recession pay off? International Journal of Research in Marketing, 22(2), 109–125.
Tellis, G. J., & Tellis, K. (2009). Research on advertising in a recession: a critical review and synthesis. Journal of Advertising Research, 49(3), 304–327.
Thjømøe, H. M., Olson, E. L., & Bronn, P. S. (2002). Decision-making processes surrounding sponsorship activities. Journal of Advertising Research, 42(6), 6–16.

Verhoef, P. C., & Leeflang, P. S. H. (2009). Understanding the marketing department's influence within the firm. Journal of Marketing, 73(2), 14–37.
Walraven, M., Koning, R. H., & Bottenburg, M. (2012). The effects of sports sponsorship: A review and research agenda. The Marketing Review, 12(1), 17–38.
Wang, F., Zhang, X. P., & Ouyang, M. (2009). Does advertising create sustained firm value? The capitalization of brand intangible. Journal of the Academy of Marketing Science, 37(2), 130–143