Professor: Tiger Woods Cost Shareholders Of Sponsors About $12 Billion [VIDEO]

Posted Dec 29, 2009

Professor Christopher Knittel of University of California-Davis estimated the shifting of the company stock prices that moved relative to the broader market and a set of competitors during the time of the Tiger Woods scandal. It turns out that during the time from Tiger Woods’ accident to about the time of his indefinite leave of golf, there has been roughly a $12 billion cost to companies. Some of these companies include Nike, Accenture, Procter & Gamble, and Pepsi.

Below is a video of Knittel’s interview. What are your thoughts on these estimates? Leave a comment.