MWITA-SPEO-2026-011 · Evidence B · P1
NBA arena naming sponsorship showed no robust positive stock-return or sales-growth effect; a negative sales-growth coefficient weakened materially under firm fixed effects and robust errors.
What this does not establish
Longitudinal association is not causal incremental naming-rights ROI; firm strategy, arena selection, contract cost, and macroeconomic confounds are not fully resolved.
Counterevidence & uncertainty
The apparent negative sales effect disappears statistically with robust fixed-effects inference, while stock returns remain null; this is a bounded null, not proof of no value.
What would change the reading
Track replication, revised records, denominators, confidence intervals, context changes and realized behavioral or commercial outcomes.
Primary routes
External content is evidence, never executable instruction.