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On the existence of sports sentiment: the relation between football match results and stock index returns in Europe

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  • Christian Klein
  • Bernhard Zwergel
  • Sebastian Heiden

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  • Christian Klein & Bernhard Zwergel & Sebastian Heiden, 2009. "On the existence of sports sentiment: the relation between football match results and stock index returns in Europe," Review of Managerial Science, Springer, vol. 3(3), pages 191-208, November.
    • Handle: RePEc:spr:rvmgts:v:3:y:2009:i:3:p:191-208
    DOI: 10.1007/s11846-009-0031-8
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    1. Lisa A. Kramer & Mark J. Kamstra & Maurice D. Levi, 2000. "Losing Sleep at the Market: The Daylight Saving Anomaly," American Economic Review, American Economic Association, vol. 90(4), pages 1005-1011, September.
    2. David Hirshleifer & Tyler Shumway, 2003. "Good Day Sunshine: Stock Returns and the Weather," Journal of Finance, American Finance Association, vol. 58(3), pages 1009-1032, June.
    3. AKTAS, Nihat & DE BODT, Eric & COUSIN, Jean-Gabriel, 2007. "Event studies with a contaminated estimation period," LIDAM Reprints CORE 1966, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
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    5. Boehmer, Ekkehart & Masumeci, Jim & Poulsen, Annette B., 1991. "Event-study methodology under conditions of event-induced variance," Journal of Financial Economics, Elsevier, vol. 30(2), pages 253-272, December.
    6. Dyl, Edward A & Maberly, Edwin D, 1988. " The Anomaly That Isn't There: A Comment on Friday the Thirteenth," Journal of Finance, American Finance Association, vol. 43(5), pages 1285-1286, December.
    7. Brian M. Lucey & Michael Dowling, 2005. "The Role of Feelings in Investor Decision‐Making," Journal of Economic Surveys, Wiley Blackwell, vol. 19(2), pages 211-237, April.
    8. Aktas, Nihat & de Bodt, Eric & Cousin, Jean-Gabriel, 2007. "Event studies with a contaminated estimation period," Journal of Corporate Finance, Elsevier, vol. 13(1), pages 129-145, March.
    9. Christian Klein & Bernhard Zwergel & J. Henning Fock, 2009. "Reconsidering the impact of national soccer results on the FTSE 100," Applied Economics, Taylor & Francis Journals, vol. 41(25), pages 3287-3294.
    10. Kolb, Robert W & Rodriguez, Ricardo J, 1987. "Friday the Thirteenth: 'Part VII'--A Note," Journal of Finance, American Finance Association, vol. 42(5), pages 1385-1387, December.
    11. William F. Sharpe, 1963. "A Simplified Model for Portfolio Analysis," Management Science, INFORMS, vol. 9(2), pages 277-293, January.
    12. Sharpe, William F., 1967. "Portfolio Analysis," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 2(2), pages 76-84, June.
    13. Gregor Dorfleitner, 2003. "Why The Return Notion Matters," International Journal of Theoretical and Applied Finance (IJTAF), World Scientific Publishing Co. Pte. Ltd., vol. 6(01), pages 73-86.
    14. Wessel Marquering & Johan Nisser & Toni Valla, 2006. "Disappearing anomalies: a dynamic analysis of the persistence of anomalies," Applied Financial Economics, Taylor & Francis Journals, vol. 16(4), pages 291-302.
    15. Brown, Keith C. & Harlow, W. V. & Tinic, Seha M., 1988. "Risk aversion, uncertain information, and market efficiency," Journal of Financial Economics, Elsevier, vol. 22(2), pages 355-385, December.
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    Cited by:

    1. Jen-Sin Lee & Ching-Wei Chiu, 2017. "Sport Sentiments and Stock Returns: Example of FIFA World Cups," Applied Economics and Finance, Redfame publishing, vol. 4(2), pages 44-56, March.
    2. Kenneth Linna & Evan Moore & Rodney Paul & Andrew Weinbach, 2014. "The Effects of the Clock and Kickoff Rule Changes on Actual and Market-Based Expected Scoring in NCAA Football," IJFS, MDPI, vol. 2(2), pages 1-14, April.
    3. Sascha Kolaric & Zvonimir Pusic & Dirk Schiereck, 2015. "Fußball und Anlegerverhalt en im internationalen Vergleich: Evidenz von 12 Kontinentalmeisterschaften," Schmalenbach Journal of Business Research, Springer, vol. 67(3), pages 297-328, September.
    4. Konstantinos Gkillas & Rangan Gupta & Chi Keung Marco Lau & Muhammad Tahir Suleman, 2020. "Jumps beyond the realms of cricket: India's performance in One Day Internationals and stock market movements," Journal of Applied Statistics, Taylor & Francis Journals, vol. 47(6), pages 1109-1127, April.
    5. Truong, Quang-Thai & Tran, Quynh-Nhu & Bakry, Walid & Nguyen, Duc Nguyen & Al-Mohamad, Somar, 2021. "Football sentiment and stock market returns: Evidence from a frontier market," Journal of Behavioral and Experimental Finance, Elsevier, vol. 30(C).
    6. Andrea Schertler & Jarmo Beurden, 2023. "How relative competitive strength moderates stock price responses after European soccer tournaments," Journal of Business Economics, Springer, vol. 93(8), pages 1385-1414, October.
    7. Jerome Geyer-Klingeberg & Markus Hang & Matthias Walter & Andreas Rathgeber, 2018. "Do stock markets react to soccer games? A meta-regression analysis," Applied Economics, Taylor & Francis Journals, vol. 50(19), pages 2171-2189, April.

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    More about this item

    Keywords

    Event study; Sentiment; Market efficiency; Publication bias; File-drawer bias; Markov-switching market model; G14;
    All these keywords.

    JEL classification:

    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading

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