Marathon events can boost companies’ investment efficiency.

A study published in Finance Research Letters in October 2026 has explored the link between regional sports culture and corporate investment efficiency, according to the specialized economics and sports platform. The findings suggest that fostering a sports culture is associated with reduced inefficient investment and improved resource allocation within companies.

The research, titled "Sports culture and corporate investment efficiency: Evidence from marathon events," uses marathon events as a measure of sports culture development. The researchers analyzed the number and quality of these events to understand the connection between sports activities and corporate investment decisions.

The potential mechanism behind sports' impact on investment

The study suggests that improved internal controls and reduced agency problems within companies are key factors explaining the link between sports culture and investment efficiency. This effect is more pronounced in companies prone to overinvestment, according to the article's findings.

Financial literature defines inefficient investment as allocating company resources to projects that don't align with actual growth opportunities and economic benefits. Identifying institutional and social factors influencing investment decision quality is therefore crucial for financial researchers.

Limitations in generalizing the findings

While the findings are significant, they don't definitively prove that hosting marathons in any region will enhance corporate efficiency. Institutional conditions, economic structure, management quality, and company characteristics all play a role in shaping outcomes. To apply these findings to Iran, independent research using domestic data is necessary.

This study holds importance in sports economics as it investigates the potential connection between sports development and other economic sectors' performance, raising new questions about economic impacts beyond ticket sales and direct event revenue.

Research details: "Sports culture and corporate investment efficiency: Evidence from marathon events," Finance Research Letters, Volume 109, Article 110520, October 2026.

Source: ScienceDirect scientific platform.

View the scientific article's abstract and details

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