The Research On The Evaluation Of The Fair Brand Value Of Major Sport Events In China

Since 1980 s,the brand value has caught the concer from more and more research institutions and scholars.The international and national standards of brand value evaluation have been carried out in 2013.A number of domestic industries have given a very positive response on these standars,while there was on reflection from sport industry.From the importance of brand value itself,or the policy requirements of our government and the development trend of China’s sport events,the evaluation of brand value of major sport events is a subject that is worthy for study.However,the research on this subject is rare within the existing theoretical research field.On the other hand,due to the lack of uniform evaluation criteria,the practice of evaluation on this subject is lacking authority.In order to make up the lack of research,to improve the authority of evaluation and highlight the combination of commercial and social characteristics of major sport event in China,this study adopts humanistic explanatory paradigm,using literature,deductive reasoning,expert interview,empirical analysis and level analysis to research the brand value evaluation of major sport events in China,and draw the following conclusions:First,the brand value of major sport events in China is the fair value.The combination of commercial value and public welfare value in major sport events in China in recognized by the general market,and should also be recognized in asset valuation field.Second,the fair brand value of major sport events in China includes commercial value and public welfare value.These two kinds of vaule are not only come out at the same time with significant benefits,but also inseparable.Public welfare value is a necessary condition for the existence of major sport events,and its impact on the value of the assets itself has been recognized by the general market.The fair brand value of major sport events in China includes commercial value and public welfare value,both are indispensable,and should be calculated separately.Third,the application of existing criteria of brand value evaluation need to be explained for the research subject.Existing documents directly related to brand value evaluation can not be directly applied to this study and need to be explained.The core concepts of "asset","brand value","market value and non-market value" can be explained within the rules,and then is consistent with the characteristics of the brand being evaluated in this study.Fourth,the direction of brand value evaluation should be capitalized.As the social evaluation hasing its own shortcomings,this research should be carried out in accordance with the direction of capitalization.In the existing assetization algorithm,the multi-period excess return method can only evaluate the purely commercial brand.But the discount rate and the idea of brand cash flow is applicable to the evaluation of the brand.Fifth,the value of public welfare and commercial value can be explained beyond rules.Although the combination of public welfare value and commercial value is beyond the rules of the existing brand value evaluation standard,the method of humanism interpretation makes this explaination possible.Sixth,this research construts the extended multi-cycle excess return model and its parameter basis.In order to evaluate the fair brand value of major sport events in China,this paper builds an extended multi-period excess return model based on the explanation of the existing brand value evaluation standard,and the empirical research proves that the model is operational.