Possible key factors for Brazilian publicly traded companies to adopt a sponsorship strategy

PurposeThe purpose of this paper is to identify organizational and industrial characteristics of publicly traded Brazilian firms with sport and cultural sponsorships.Design/methodology/approachSecondary data, as organization variables and industry level variables, were sourced from Economatica®. The data were analyzed using logistic regression.FindingsBoth size and asset profitability were associated with a sponsorship strategy. Both industry concentration and company size are positively related to both cultural and sport sponsorship strategies.Research limitations/implicationsThe findings in this paper provide support to resource-based view and SPC theories. The notable limitation of the study is the reliance on non-standardized social reporting.Originality/valueThis paper fulfills an identified need to study the importance for sponsorship to companies’ performance. The adoption of sponsorship strategies has been growing in Brazil and becoming more and more important for sponsor companies’ performance and in developing these industries, sport and creative. Through culture and sports, companies try to add value to their brands, delivering a socially responsible image to the audience.