Two economists have done a study on the aftermath of Tiger Woods scandal. Their study was mainly focused on the negative impact on the shares of the companies that Woods had sponsorship deals. He is a billionaire and he used to earn nearly $100 million every year from endorsement deals. Now, the shares of most of companies that he had deal have suffered and their collective decrease in price is nearly $12 billion. Of course, it is sheer stupidity to blame Woods for this kind of problem. In 2009, US economy was under recession and the value of shares of many companies decreased significantly.
Having said that, it is interesting to note that sports related companies suffered more than the companies whose products are not related to sports. For example, EA Sports, Nike and Gatorade suffered but there was no impact on Accenture.
