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To explain two papers published by the European Securities and Marketing Authority (ESMA) covering the application of the mar-keting “passport” under the Alternative Investment Fund Managers Directive (AIFMD).

Explains ESMA’s first paper, containing an advice to the European Parliament, Council and Commission (collectively the Trilogue) on the potential application of the AIFMD passport to non-EU Alternative Investment Fund Managers (AIFMs) and Alternative in-vestment Funds (AIFs), and a second paper, containing ESMA’s opinion on the current functioning of the AIFMD (currently used by EU AIFMs marketing EU AIFs in the EU) and National Private Placement Regimes (NPPRs, used for marketing by non-EU AIFMs and non-EU AIFs).

The ESMA papers were disappointing because they gave far less guidance and encouragement than anticipated that AIFs located in major jurisdictions such as the US and the Cayman Islands will be any easier to market to EU professional investors in the near future.

AIFMs (both inside and outside the EU) who are already using, or intending to use, the NPPRs should take some comfort that it seems highly unlikely that these regimes will be removed in the near future.

Practical guidance from experienced financial services lawyers.

Sport is a global product and service that many people around the world enjoy playing, watching and participating in. Whilst there has been an abundance of global media attention on sporting events such as the Olympics and World Football Cup, there seems to be a lack of integration between the sports marketing and international business disciplines both from a practical and also academic standpoint. This paper aims to discuss international sport marketing and why it is an important attribute of business‐to‐business marketing.

The aim of the paper is to provide practical implications and research avenues for those seeking to further investigate international sport marketing as a unique area of academic research. The introduction to the paper focuses on the importance of sport to the global economy and how entrepreneurship is ingrained in many sport businesses and organizations. Next, different areas of international business management that relate to entrepreneurial sport marketing ventures are discussed in terms of future research directions and practical implications. These include how entrepreneurial sport ventures affect internationalization, branding, corporate social responsibility, tourism, regional development, marketing and action sports.

The paper concludes by finding that there are numerous research avenues for future research on international sport marketing that combine different areas of marketing together with the sport marketing and international business literature. In addition, there is enormous potential for linking the sports marketing and international business literature through focusing on entrepreneurial sport ventures that occur worldwide.

The authors demonstrate the need to take an international perspective of sports marketing and business‐to‐business relationships.

The paper discusses how and why sport firms interact in the international marketplace and how future competition will benefit from more sport‐based business‐to‐business partnerships.

The paper examines the important area of international sports marketing and how businesses that are both profit and non‐profit orientated collaborate. The paper explores the concept of international sports marketing, and discusses the practical and future research implications of this exciting new field of marketing research.

This research attempted to investigate why sport themes are used in advertisements, and the motives that lead companies and advertisers to use sport celebrities and sport concepts in advertisements. The detailed examination of the fieldwork took place in Sydney, prior to and during the 2000 Olympic Games. Printed media were observed for a period of five to six months. Many parameters were taken into consideration comparing three monthly magazines and two daily newspapers in order to gain knowledge and provide answers to the fundamental questions. In addition, two famous athletes, a sport manager and an advertising executive were interviewed. Furthermore the outcome of the research showed that Olympic Games did not play a catalyst role in sport advertisement issues in the particular print media. It also concluded that the selection procedures that advertising companies followed, in order to select athletes, were not based only on their achievements but mostly were related to their personalities.

The market for luxury products and services plays a significant role in the world economy. The luxury hotel market is a crucial segment within the global market for luxury products and services. Luxury hospitality recorded a 5% growth rate along with demand for luxury cruises recording the growth of 7%, the highest among all luxury segments. The remarkable performance of luxury products and services over a period is attributed to the laudable marketing communication strategies of luxury marketers. In this research, we aimed to analyse how a multi-brand hospitality firm differentiates its luxury brand with other luxury brands in the portfolio, using textual messages aimed to communicate the uniqueness of the brands in its official websites. The case study method and content analysis are adapted to achieve the research objective. The study results show that different luxury brands under the brand portfolio of Marriott International can communicate the differences through the textual contents. Most of the differentiation relies on brand-specific features, traditions, services, location of the hotel and metadata on the Internet, followed by branded differentiators. It may be concluded that Marriott has been successful to an extent in using text contents in the website to differentiate its luxury brands.

There has been increasing interest in sport entrepreneurship as a field of study due to the way it bridges theory and practice. This is certainly relevant in the startup context that emphasizes an entrepreneurial approach for developing a business model. This chapter focuses on the importance of sport to society by focusing on entrepreneurship, thereby connecting the sport entrepreneurship literature to the new field of startups. This enables a better understanding about the value of entrepreneurship to the sport industry and in particularly the startup culture.

This research aims to examine the impact of celebrity credibility on consumer‐based equity of the endorsed brand. The mediating role of brand credibility and the moderating role of the type of branding (parent versus sub‐brand) employed by the endorsed brand on the endorser credibility‐brand equity relationship are also to be examined. The endorser credibility‐brand equity relationship was developed using associative learning principles whereas the brand signalling theory is applied to examine the mediating role of brand credibility.

The conceptual framework was tested using a field experiment. Data were collected using a mall‐intercept approach at a shopping centre from a sample of consumers in a metropolitan Australian city. The data were analysed using structural equation modelling.

Results suggest endorser credibility has an indirect impact on brand equity when this relationship is mediated by brand credibility. This mediating relationship was moderated by type of branding. However, the “endorser credibility‐brand credibility” and “endorser credibility‐brand equity” relationships did not vary according to the type of branding employed.

In support of past findings, the present study shows that a celebrity endorser should be one who is perceived as credible based on their attractiveness, expertise and trustworthiness. Moreover, in this research, even a moderately low credibility endorser proved to be able to build the brand.

The present study is one of the first to empirically examine and confirm the impact of endorser credibility on brand credibility and consumer‐based brand equity.

An interesting issue little explored in the celebrity endorsement literature is whether or not the activities of a celebrity endorser affect company performance. We examine the impact of Tiger Woods’s tournament performance on the endorsing firm’s value subsequent to the contract signing. We do not find a relationship between Tiger’ss tournament placement and the excess returns of Fortune Brands (parent of Titleist). This is likely due to Titleist being a very small contributor to the total market value of Fortune Brands. We also fail to find a significant relationship for American Express suggesting the market does not view a golfer endorsing financial services as credible. We do, however, find a positive and significant impact of Tiger’s performance on Nike’s excess returns suggesting that the market values the additional publicity that Nike receives when Tiger is in contention to win.