An examination of the impact of India's performance in one-day cricket internationals on the Indian stock market
AbstractThis study examines the impact of the Indian cricket team's performance in one day international cricket matches on returns on the Indian stock market. The main conclusion of the study is that there exists an asymmetric relationship between the performance of the Indian cricket team and stock returns on the Indian stock market. While a win by the Indian cricket team has no statistically significant upward impact on stock market returns, a loss generates a significant downward movement in the stock market. When Sachin Tendulker, India's most popular cricketer, plays the size of the downward movement in returns is larger.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Elsevier in its journal Pacific-Basin Finance Journal.
Volume (Year): 18 (2010)
Issue (Month): 3 (June)
Contact details of provider:
Web page: http://www.elsevier.com/locate/pacfin
Cricket India Stock market Stochastic dominance Investor psychology;
Other versions of this item:
- Vinod Mishra & Russell Smyth, 2008. "An Examination Of The Impact Of India'S Performance In One-Day Cricket Internationals On The Indian Stock Market," Monash Economics Working Papers 09/08, Monash University, Department of Economics.
- D87 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Neuroeconomics
- G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies
- L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Recreation; Tourism
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Moshe Leshno & Haim Levy, 2002. "Preferred by "All" and Preferred by "Most" Decision Makers: Almost Stochastic Dominance," Management Science, INFORMS, vol. 48(8), pages 1074-1085, August.
- Hirshleifer, David, 2001.
"Investor Psychology and Asset Pricing,"
5300, University Library of Munich, Germany.
- Russell Davidson & Jean-Yves Duclos, 2000.
"Statistical Inference for Stochastic Dominance and for the Measurement of Poverty and Inequality,"
Econometric Society, vol. 68(6), pages 1435-1464, November.
- Davidson, R. & Duclos, J.-Y., 1998. "Statistical Inference for Stochastic Dominance and for the Measurement of Poverty and Inequality," G.R.E.Q.A.M. 98a14, Universite Aix-Marseille III.
- Davidson, Russell & Duclos, Jean-Yves, 1998. "Statistical Inference for Stochastic Dominance and for the Measurement of Poverty and Inequality," Cahiers de recherche 9805, Université Laval - Département d'économique.
- Lean, Hooi Hooi & Smyth, Russell & Wong, Wing-Keung, 2007.
"Revisiting calendar anomalies in Asian stock markets using a stochastic dominance approach,"
Journal of Multinational Financial Management,
Elsevier, vol. 17(2), pages 125-141, April.
- Lean Hooi Hooi & Wong Wing Keung & Russell Smyth, 2005. "Revisiting Calender Anomolies in Asian Stock Markets Using a Stochastic Dominance Approach," Monash Economics Working Papers 16/05, Monash University, Department of Economics.
- Alex Edmans & Diego García & Øyvind Norli, 2007. "Sports Sentiment and Stock Returns," Journal of Finance, American Finance Association, vol. 62(4), pages 1967-1998, 08.
- Colin F. Camerer & George Loewenstein & Drazen Prelec, 2004. "Neuroeconomics: Why Economics Needs Brains," Scandinavian Journal of Economics, Wiley Blackwell, vol. 106(3), pages 555-579, October.
- Arkes, Hal R. & Herren, Lisa Tandy & Isen, Alice M., 1988. "The role of potential loss in the influence of affect on risk-taking behavior," Organizational Behavior and Human Decision Processes, Elsevier, vol. 42(2), pages 181-193, October.
- George Loewenstein, 2000. "Emotions in Economic Theory and Economic Behavior," American Economic Review, American Economic Association, vol. 90(2), pages 426-432, May.
- Glenn Boyle & Brett Walter, 2003. "Reflected glory and failure: international sporting success and the stock market," Applied Financial Economics, Taylor and Francis Journals, vol. 13(3), pages 225-235.
- Nikolaos Veraros & Evangelia Kasimati & Peter Dawson, 2004. "The 2004 Olympic Games announcement and its effect on the Athens and Milan stock exchanges," Applied Economics Letters, Taylor and Francis Journals, vol. 11(12), pages 749-753.
- Gabrielle Berman & Robert Brooks & Sinclair Davidson, 2000. "The Sydney Olympic Games announcement and Australian stock market reaction," Applied Economics Letters, Taylor and Francis Journals, vol. 7(12), pages 781-784.
- John Dickhaut & Kevin McCabe & Jennifer C. Nagode & Aldo Rustichini & Kip Smith & Jose Pardo, 2002. "The impact of the certainty context on the process of choice," CEEL Working Papers 0216, Cognitive and Experimental Economics Laboratory, Department of Economics, University of Trento, Italia.
- J. K. Ashton & B. Gerrard & R. Hudson, 2003. "Economic impact of national sporting success: evidence from the London stock exchange," Applied Economics Letters, Taylor and Francis Journals, vol. 10(12), pages 783-785.
- Y.K. Tse & Xibin Zhang, 2003. "A Monte Carlo Investigation of Some Tests for Stochastic Dominance," Monash Econometrics and Business Statistics Working Papers 7/03, Monash University, Department of Econometrics and Business Statistics.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wendy Shamier).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.