Scoring on the stock exchange? The effect of football matches on stock market returns: an event study
AbstractWe analyse the effect of results of football matches on the stock market performance of football teams. We analyse 1274 matches of eight teams in the national and European competition during 2000-2004. We find that the stock market response is significant and positive for victories and negative for defeats. The response is significantly stronger in the case of defeat. The response is stronger for matches in the European competition than for those in the national competition. Unexpected results have a stronger impact for European matches than expected ones but this is not the case in the national competition.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Applied Economics.
Volume (Year): 41 (2009)
Issue (Month): 25 ()
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- Dennis Coates & Brad R. Humphreys, 2008. "The Effect of On-Field Success on Stock Prices: Evidence from Nippon Professional Baseball," Working Papers 0805, International Association of Sports Economists & North American Association of Sports Economists.
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- Robert Gasquez & Vicente Royuela, 2012. "Is football an indicator of development at the international level?," Working Papers in Economics 275, Universitat de Barcelona. Espai de Recerca en Economia.
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