The Effect of On-Field Success on Stock Prices: Evidence from Nippon Professional Baseball
AbstractA growing literature examines the relationship between the on-field success of sports teams and prices of securities traded on stock exchanges. While much of the literature focuses on the effect of national teams on aggregate stock price measures, for example the relationship between the performance of a national team in World Cup competition and the aggregate stock price index in that country, some recent papers have examined the relationship between specific team performance and the price of the shares of the team's owners. We add to this literature by examining the effect of on-field success by baseball teams in Nippon Professional Baseball and the price of the shares of the companies that own these professional baseball teams.
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Bibliographic InfoPaper provided by International Association of Sports Economists & North American Association of Sports Economists in its series Working Papers with number 0805.
Length: 22 pages
Date of creation: Aug 2008
Date of revision:
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- L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Recreation; Tourism
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