Journal article
Event Portfolios: Asset Value, Risk and Returns
International Journal of Event and Festival Management, Vol.8(3), pp.226-243
2017
Abstract
Purpose: The research question addressed is whether an event portfolio analysis rooted in financial portfolio theory can yield meaningful insights to complement two approaches to event portfolios. The first approach is extrinsic and rooted in economic impact analysis where events need to demonstrate a financial return on investment. In the second approach events are valued ally, with every event having inherent value and the entire portfolio being valued for its synergistic effects and contribution to social and cultural goals. Methodology: Data from visitors to four events in the Sunshine Coast region of Australia are analysed to illustrate key points, including the notion of 'efficient frontier'. Findings: Conceptual development includes an examination of extrinsic and intrinsic perspectives on portfolios, ways to define and measure value, returns, risk, and portfolio management strategies. In the conclusions a number of research questions are raised, and it is argued that the two approaches to value event portfolios can be combined. Limitations: Only four events were studied, in one Australian local authority. The sample of residents who responded to a questionnaire was biased in terms of age, education and gender. Social Implications: Authorities funding events and developing event portfolios for multiple reasons can benefit from more rigorous analysis of the value created. Originality/Value: This analysis and conceptual development advances the discourse on portfolio theory applied to event management and event tourism.
Details
- Title
- Event Portfolios: Asset Value, Risk and Returns
- Authors
- Tommy D Andersson (Author) - University of Gothenburg, SwedenDonald Getz (Author) - University of Calgary, CanadaDavid Gration (Author) - James Cook UniversityMaria Raciti (Author) - University of the Sunshine Coast - Faculty of Arts, Business and Law
- Publication details
- International Journal of Event and Festival Management, Vol.8(3), pp.226-243
- Publisher
- Emerald Group Publishing Ltd.
- Date published
- 2017
- DOI
- 10.1108/IJEFM-01-2017-0008
- ISSN
- 1758-2954; 1758-2954
- Copyright note
- Copyright © 2017 Emerald Group Publishing Limited. This article is © Emerald Group Publishing and permission has been granted for this version to appear here. Emerald does not grant permission for this article to be further copied/distributed or hosted elsewhere without the express permission from Emerald Group Publishing Limited.
- Organisation Unit
- School of Business and Creative Industries; Indigenous and Transcultural Research Centre; University of the Sunshine Coast, Queensland; USC Business School - Legacy; Sustainability Research Cluster
- Language
- English
- Record Identifier
- 99450332802621
- Output Type
- Journal article
- Research Statement
- false
Metrics
163 File views/ downloads
2725 Record Views
InCites Highlights
These are selected metrics from InCites Benchmarking & Analytics tool, related to this output
- Collaboration types
- Domestic collaboration
- International collaboration
- Web Of Science research areas
- Hospitality, Leisure, Sport & Tourism
UN Sustainable Development Goals (SDGs)
This output has contributed to the advancement of the following goals:
Source: InCites