THE EFFECT OF SPORTING EVENTS ON FIRM-LEVEL ECONOMIC ACTIVITY IN UPTOWN CHARLOTTE
1 online resource (79 pages) : PDF
University of North Carolina at Charlotte
This study investigates the impact of sporting events in Charlotte, North Carolina on local economic activity. A formal analysis of the effect these events have on local markets is useful in supporting or refuting the assumption of economic benefits. This study is unique in that the data are firm-level and occur at a high frequency. The methodology used in this research is ordinary least squares regression analysis. The variable of interest is a firm's sales; the business is a full-service restaurant located in the center city area of Charlotte, North Carolina. Charlotte is home to the NBA's Charlotte Bobcats recently renamed the Hornets, and the NFL's Carolina Panthers. The study investigates effects on revenues from Panthers and Bobcats games as well as sporting events located at local venues. The study finds mild support for the claim that restaurants and bars are positively impacted by sporting events. Panthers home games significantly impact sales. However, the outcome of the game may negatively influence the economic behavior of the crowd. Bobcats home games, Convention Center, and Memorial Stadium sporting events have no discernable impact on revenues. The results cannot necessarily be generalized to the entire local economy. However, the result may hold for other medium to high-end restaurants located in Uptown Charlotte.
Depken II, Craig
Billings, StephenSchulkind, Lisa
Thesis (M.S.)--University of North Carolina at Charlotte, 2015.
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