IDEAS home Printed from https://ideas.repec.org/p/zbw/euvwdp/330.html
   My bibliography  Save this paper

Does Danish football club Brøndby swim with the fishes? An application of the reversed news model

Author

Listed:
  • Croonenbroeck, Carsten
  • Monaco, Fabrizio Leonardo
  • Christensen, Mads Julius

Abstract

We complement a former study by Jørgensen, Moritzen and Stadtmann (2012) and estimate a reversed news model for the Danish publicly listed football club Brøndby. In addition to match outcome (as in Jørgensen et al.), news related to corporate governance and the financial status are also important.

Suggested Citation

  • Croonenbroeck, Carsten & Monaco, Fabrizio Leonardo & Christensen, Mads Julius, 2012. "Does Danish football club Brøndby swim with the fishes? An application of the reversed news model," Discussion Papers 330, European University Viadrina Frankfurt (Oder), Department of Business Administration and Economics.
    • Handle: RePEc:zbw:euvwdp:330
    as

    Download full text from publisher

    File URL: https://www.econstor.eu/bitstream/10419/67115/1/731462173.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Campbell, John & Shiller, Robert, 1988. "Stock Prices, Earnings, and Expected Dividends," Scholarly Articles 3224293, Harvard University Department of Economics.
    2. Ellison, Sara Fisher & Mullin, Wallace P, 2001. "Gradual Incorporation of Information: Pharmaceutical Stocks and the Evolution of President Clinton's Health Care Reform," Journal of Law and Economics, University of Chicago Press, vol. 44(1), pages 89-129, April.
    3. Eli Ofek & Matthew Richardson, 2002. "The Valuation and Market Rationality of Internet Stock Prices," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 18(3), pages 265-287.
    4. Casper Jørgensen & Mark Moritzen & Georg Stadtmann, 2012. "The news model of asset price determination – an empirical examination of the Danish football club," Applied Economics Letters, Taylor & Francis Journals, vol. 19(17), pages 1715-1718.
    5. Marsh, Terry A & Merton, Robert C, 1986. "Dividend Variability and Variance Bounds Tests for the Rationality ofStock Market Prices," American Economic Review, American Economic Association, vol. 76(3), pages 483-498, June.
    6. Jørgensen, Casper W. & Moritzen, Mark R. & Stadtmann, Georg, 2012. "The news model of asset price determination: An empirical examination of the Danish football club Brøndby IF," Discussion Papers 313, European University Viadrina Frankfurt (Oder), Department of Business Administration and Economics.
    7. Georg Stadtmann, 2006. "Frequent News and Pure Signals: The Case of a Publicly Traded Football Club," IASE Conference Papers 0625, International Association of Sports Economists.
    8. Jørgensen, Casper W. & Moritzen, Mark R. & Stadtmann, Georg, 2012. "The news model of asset price determination - An empirical examination of the Danish football club Brøndby IF," Discussion Papers on Economics 3/2012, University of Southern Denmark, Department of Economics.
    9. Summers, Lawrence H, 1986. "Does the Stock Market Rationally Reflect Fundamental Values?," Journal of Finance, American Finance Association, vol. 41(3), pages 591-601, July.
    10. Georg Stadtmann, 2006. "Frequent News And Pure Signals: The Case Of A Publicly Traded Football Club," Scottish Journal of Political Economy, Scottish Economic Society, vol. 53(4), pages 485-504, September.
    11. Terence Lim, 2001. "Rationality and Analysts' Forecast Bias," Journal of Finance, American Finance Association, vol. 56(1), pages 369-385, February.
    12. repec:bla:jfinan:v:43:y:1988:i:3:p:661-76 is not listed on IDEAS
    13. Georg Stadtmann, 2006. "Frequent News and Pure Signals: The Case of a Publicly Traded Football Club," Working Papers 0603, International Association of Sports Economists;North American Association of Sports Economists.
    14. Fama, Eugene F, 1970. "Efficient Capital Markets: A Review of Theory and Empirical Work," Journal of Finance, American Finance Association, vol. 25(2), pages 383-417, May.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Carsten Croonenbroeck & Fabrizio Leonardo Monaco & Mads Julius Christensen, 2015. "Does Danish Football Club Brøndby Swim With the Fishes? An Application of the Reversed News Model," Journal of Sports Economics, , vol. 16(4), pages 425-433, May.
    2. 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.
    3. Leonardo Becchetti & Roberto Rocci & Giovanni Trovato, 2007. "Industry and time specific deviations from fundamental values in a random coefficient model," Annals of Finance, Springer, vol. 3(2), pages 257-276, March.
    4. Ferreira, Paulo & Loures, Luís & Nunes, José Rato & Dionísio, Andreia, 2017. "The behaviour of share returns of football clubs: An econophysics approach," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 472(C), pages 136-144.
    5. 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.
    6. Christian Deutscher & Bernd Frick & Oliver Gürtler & Joachim Prinz, 2013. "Sabotage in Tournaments with Heterogeneous Contestants: Empirical Evidence from the Soccer Pitch," Scandinavian Journal of Economics, Wiley Blackwell, vol. 115(4), pages 1138-1157, October.
    7. Ender Demir, 2015. "Aviation Accidents and Stock Market Reaction: Evidence from Borsa Istanbul," Eurasian Journal of Economics and Finance, Eurasian Publications, vol. 3(1), pages 51-56.
    8. Nicolas Scelles & Matthieu Llorca, 2021. "Leader Dismissal or Continuity, President Longevity, Geographic Orientation of Owners and Team Performance: Insights from French Men’s Football, 1994–2016," JRFM, MDPI, vol. 14(9), pages 1-17, September.
    9. 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.
    10. Froot, Kenneth A & Obstfeld, Maurice, 1991. "Intrinsic Bubbles: The Case of Stock Prices," American Economic Review, American Economic Association, vol. 81(5), pages 1189-1214, December.
    11. Guy Elaad & Artyom Jelnov & Jeffrey Kantor, 2018. "You do not have to succeed, just do not fail: When do soccer coaches get fired?," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 39(3), pages 269-274, April.
    12. Kin-Boon Tang & Shao-Jye Wong & Shih-Kuei Lin & Szu-Lang Liao, 2020. "Excess volatility and market efficiency in government bond markets: the ASEAN-5 context," Journal of Asset Management, Palgrave Macmillan, vol. 21(2), pages 154-165, March.
    13. Allen, Franklin & Gale, Douglas, 1995. "A welfare comparison of intermediaries and financial markets in Germany and the US," European Economic Review, Elsevier, vol. 39(2), pages 179-209, February.
    14. Alex Bryson & Babatunde Buraimo & Alex Farnell & Rob Simmons, 2021. "Time To Go? Head Coach Quits and Dismissals in Professional Football," De Economist, Springer, vol. 169(1), pages 81-105, February.
    15. van Ours, Jan C. & van Tuijl, Martin, 2014. "In-season head-coach dismissals and the performance of professional football teams," CEPR Discussion Papers 10191, C.E.P.R. Discussion Papers.
    16. Tim Bollerslev & Robert J. Hodrick, 1992. "Financial Market Efficiency Tests," NBER Working Papers 4108, National Bureau of Economic Research, Inc.
    17. Yadav, Pradeep K., 1992. "Event studies based on volatility of returns and trading volume: A review," The British Accounting Review, Elsevier, vol. 24(2), pages 157-184.
    18. Bali, Turan G. & Demirtas, K. Ozgur & Levy, Haim, 2008. "Nonlinear mean reversion in stock prices," Journal of Banking & Finance, Elsevier, vol. 32(5), pages 767-782, May.
    19. Chiang, Raymond & Liu, Peter & Okunev, John, 1995. "Modelling mean reversion of asset prices towards their fundamental value," Journal of Banking & Finance, Elsevier, vol. 19(8), pages 1327-1340, November.
    20. Crockett, Jean A., 1998. "Rational expectations, inflation and the nominal interest rate," Journal of Econometrics, Elsevier, vol. 83(1-2), pages 349-363.

    More about this item

    Keywords

    Reversed News Model; Asset Prices; Stock Market;
    All these keywords.

    JEL classification:

    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:zbw:euvwdp:330. See general information about how to correct material in RePEc.

    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 CitEc recognized a bibliographic reference but did not link an item in RePEc 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ZBW - Leibniz Information Centre for Economics (email available below). General contact details of provider: https://edirc.repec.org/data/fwffode.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.