Graduation Year


Date of Submission


Document Type

Open Access Senior Thesis

Degree Name

Bachelor of Arts



Reader 1

Richard Burdekin

Reader 2

Sven Arndt

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© 2016 Filbert Goetomo


This thesis utilises event studies to measure the impact of League of Legends Esports s teams on the share prices of their main sponsors and parent company, namely, the CJ Corporation, Korean Air, the Kt Corporation, Samsung Electronics Co Ltd and SK Telecom. Hypothetically, the success of a team, the acquisition of a major player or the beginning of a sponsorship would have a positive effect on the corporation reflected in an increase in the firm’s daily share price returns. Results showed that this was indeed true especially for a team’s success in large competitions such as the SBENU Summer Championships 2015 and the annual World Finals. As such, corporations can benefit from increasing their investments into the scene as a result of the quantifiable win-win scenario apparent for both firm and team.


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