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.
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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
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