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Investor Sentiment Soccer Games And Stock Returns
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Book Synopsis Investor Sentiment, Soccer Games and Stock Returns by : Nebojsa Dimic
Download or read book Investor Sentiment, Soccer Games and Stock Returns written by Nebojsa Dimic and published by . This book was released on 2015 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines two determinants of investor sentiment (ex-ante evaluation of future value-related events and ex-post reaction to event outcomes) using the data on soccer games and betting odds. Results suggest that the magnitude and the character of investor reactions vary considerably after the release of negative and positive information on soccer games. Bad news generates a larger price response than good news; implying post-event irrational investor behavior and sentiment-induced overreaction. Moreover, negative news is more slowly absorbed by the stock market than positive news due to psychological biases and lack of information salience around negative results. Finally, share prices are triggered to a larger extent by post-announcement investor irrationality than by pre-event expectation.
Book Synopsis Information Salience, Investor Sentiment, and Stock Returns by : Frédéric Palomino
Download or read book Information Salience, Investor Sentiment, and Stock Returns written by Frédéric Palomino and published by . This book was released on 2019 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: Soccer clubs listed on the London Stock Exchange provide a unique way of testing stock price reactions to different types of news. For each firm, two pieces of information are released on a weekly basis: experts' expectations about game outcomes through the betting odds, and the game outcomes themselves. The stock market reacts strongly to news about game results, generating significant abnormal returns and trading volumes. We find evidence that the abnormal returns for the winning teams do not reflect rational expectations but are high due to overreactions induced by investor sentiment. This is not the case for losing teams. There is no market reaction to the release of new betting information although these betting odds are excellent predictors of the game outcomes. The discrepancy between the strong market reaction to game results and the lack of reaction to betting odds may not only be the result from overreaction to game results but also from the lack of informational content or information salience of the betting information. Therefore, we also examine whether betting information can be used to predict short-run stock returns subsequent to the games. We reach mixed results: we conclude that investors ignore some non-salient public information such as betting odds, and betting information predicts a stock price overreaction to game results which is influenced by investors' mood (especially when the teams are strongly expected to win).
Book Synopsis Understanding Investor Sentiment by :
Download or read book Understanding Investor Sentiment written by and published by . This book was released on 2013 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine whether investors' biased ex-ante beliefs regarding the probability distribution of future events' outcomes can partially explain the stock market's inefficient response to resolution of uncertainty. In our experiment, we analyze stock returns of publicly traded European soccer clubs around important matches. Using a novel proxy for investors' expectations derived from contracts traded on betting exchanges (prediction markets), we find that in our sample investor sentiment is attributable in part to a systematic bias in investors' ex-ante expectations. Investors are overly optimistic about their teams' prospects ex-ante and, on average, end up disappointed ex-post, leading to negative post-event abnormal returns. Our evidence may have important implications for firms' investment decisions and corporate control transactions.
Book Synopsis Football Sentiment and Stock Market Returns by : Quang-Thai Truong
Download or read book Football Sentiment and Stock Market Returns written by Quang-Thai Truong and published by . This book was released on 2020 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines the effect of investor sentiment on the Vietnamese stock market. Using the results of international football matches as exogenous shocks on investor sentiment and information on two major stock exchanges, we document a link between investor sentiment and stock market returns. In particular, we find a market decline on the subsequent trading days after game losses. Further, the effect of investor sentiment is more potent for small-cap stocks, during the period when the affection and attention of local fans are stronger, and when more important competitions are being played.
Book Synopsis Sports Sentiment and Stock Returns by : Alex Edmans
Download or read book Sports Sentiment and Stock Returns written by Alex Edmans and published by . This book was released on 2013 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the stock market reaction to sudden changes in investor mood. Motivated by psychological evidence of a strong link between soccer outcomes and mood, we use international soccer results as our primary mood variable. We find a significant market decline after soccer losses. For example, a loss in the World Cup elimination stage leads to a next-day abnormal stock return of -49 basis points. This loss effect is stronger in small stocks and in more important games, and is robust to methodological changes. We also document a loss effect after international cricket, rugby, and basketball games.
Book Synopsis Information Salience, Investor Sentiment, and Stock Returns: the Case of British Soccer Betting by : Frederic Palomino
Download or read book Information Salience, Investor Sentiment, and Stock Returns: the Case of British Soccer Betting written by Frederic Palomino and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Value of Social Media for Predicting Stock Returns by : Michael Nofer
Download or read book The Value of Social Media for Predicting Stock Returns written by Michael Nofer and published by Springer. This book was released on 2015-04-21 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt: Michael Nofer examines whether and to what extent Social Media can be used to predict stock returns. Market-relevant information is available on various platforms on the Internet, which largely consist of user generated content. For instance, emotions can be extracted in order to identify the investors' risk appetite and in turn the willingness to invest in stocks. Discussion forums also provide an opportunity to identify opinions on certain companies. Taking Social Media platforms as examples, the author examines the forecasting quality of user generated content on the Internet.
Book Synopsis The Sports Business in The Pacific Rim by : Young Hoon Lee
Download or read book The Sports Business in The Pacific Rim written by Young Hoon Lee and published by Springer. This book was released on 2014-10-31 with total page 385 pages. Available in PDF, EPUB and Kindle. Book excerpt: Following consistent and rapid general economic growth, Pacific Rim countries have grown as a major force in sports. Australia, China, Japan and Korea populated the top ten medals list at the 2012 London Olympics. Pacific Rim countries are major consumers of international sports and domestic professional sports have expanded continuously over time. Nippon Professional Baseball and the Korean Baseball Organization are the second and third largest baseball leagues measured by attendance and revenue following Major League Baseball in the U.S. This book also includes event studies of team ownership, assessment of human capital markets, analysis of the relationship between attendance and competitive balance, the components of fan demand in common the world over, and business decisions concerning attendance and pricing. There is already demand for comprehensive study of the sports business in the Pacific Rim as witnessed by this growth. This book will be of interest of researchers studying and/or teaching in the fields of sports economics and sports management as well as a general audience interested in business governance around the world.
Book Synopsis The Psychology of Investing by : John R. Nofsinger
Download or read book The Psychology of Investing written by John R. Nofsinger and published by Taylor & Francis. This book was released on 2022-09-28 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: While traditional finance focuses on the tools used to optimize return and minimize risk, this book shows how psychology can explain our decisions more than financial theory. Analyzing how investors behave in the real world, this is the first book of its kind to delve into the ways biases influence investment behavior, and how overcoming these biases can increase financial success. Now in its seventh edition, this classic text features: An easy-to-understand structure, illustrating psychological biases as everyday behavior; analyzing their effect on investment decisions; and concluding with academic studies that show real-life investors making choices that hurt their wealth New content on fintech and cryptocurrencies, the role of social media in investing, generational biases, and the COVID-19 pandemic Experiential examples, chapter summaries, and end-of-chapter discussion questions to help readers test their practical understanding Online supplements comprising PowerPoint slides for both students and lecturers Fully updated with the latest research in the field, The Psychology of Investing will prove fascinating and educational for advanced students in behavioral finance, investment and portfolio management classes, as well as investors and financial planners.
Book Synopsis Sports Finance by : Brian P. Soebbing
Download or read book Sports Finance written by Brian P. Soebbing and published by MDPI. This book was released on 2018-05-04 with total page 99 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a printed edition of the Special Issue "Sports Finance" that was published in IJFS
Book Synopsis It Hurts (stock Prices) when Your Team is about to Lose a Soccer Match by : Michael Ehrmann
Download or read book It Hurts (stock Prices) when Your Team is about to Lose a Soccer Match written by Michael Ehrmann and published by . This book was released on 2014 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Psychology of Investing by : John Nofsinger
Download or read book The Psychology of Investing written by John Nofsinger and published by Routledge. This book was released on 2016-07-01 with total page 269 pages. Available in PDF, EPUB and Kindle. Book excerpt: A supplement for undergraduate and graduate Investments courses. See the decision-making process behind investments. The Psychology of Investing is the first text of its kind to delve into the fascinating subject of how psychology affects investing. Its unique coverage describes how investors actually behave, the reasons and causes of that behavior, why the behavior hurts their wealth, and what they can do about it. Features: What really moves the market: Understanding the psychological aspects. Traditional finance texts focus on developing the tools that investors use for calculating risk and return. The Psychology of Investing is one of the first texts to delve into how psychology affects investing rather than solely focusing on traditional financial theory. This text’s material, however, does not replace traditional investment textbooks but complements them, helping students become better informed investors who understand what motivates the market. Keep learning consistent: Most of the chapters are organized in a similar succession. This approach adheres to following order: -A psychological bias is described and illustrated with everyday behavior -The effect of the bias on investment decisions is explained -Academic studies are used to show why investors need to remedy the problem Growing with the subject matter: Current and fresh information. Because data on investor psychology is rapidly increasing, the fifth edition contains many new additions to keep students up-to-date. The new Chapter 12: Psychology in the Mortgage Crisis describes the psychology involved in the mortgage industry and ensuing financial crisis. New sections and sub-sections include “Buying Back Stock Previously Sold”, “Who Is Overconfident,” "Nature or Nurture?”, "Preferred Risk Habitat," "Market Impacts," "Language," and “Reference Point Adaptation.”
Download or read book Far from Random written by Richard Lehman and published by John Wiley and Sons. This book was released on 2010-05-13 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since Burton Malkiel’s seminal work A Random Walk Down Wall Street was published, the financial world has swallowed whole the idea that market movement is chaotic and random. In Far from Random, Richard Lehman uses behavior-based trend analysis to debunk Malkiel’s random walk theory. Lehman demonstrates that the market has discernible trends that are foreseeable. By learning to spot these trends, investors and traders can predict market movement to boost returns in anything from equities to 401(k) accounts. Richard Lehman has been a financial professional for more than thirty years. He studied the first iterations of behavioral finance back in the 1970s as a financial marketer and has since worked in various facets of the financial industry. His early introduction to behavioral finance and the more recent introduction to trend analysis led him to this important discovery.
Book Synopsis How Much is a Goal in the Football Championship Worth? Match Results and Stock Price Reaction by : Claudio Boido
Download or read book How Much is a Goal in the Football Championship Worth? Match Results and Stock Price Reaction written by Claudio Boido and published by . This book was released on 2018 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the past many researchers have argued that psychological factors influence stock returns. In this paper, we try to show the relationship between the outcome of football events and stock returns, based on the thesis that sports results affect investors'sentiment. We analyzed stock price performance indicators and football results, by taking 25 Soccer Listed Companies into account. The most extensive database ever used (11,977 matches) has been considered. It includes football results in the National Championship, National Cup and Continental Cups, in the period between the 2003/2004 and the 2014/2015 season. The analysis shows the economic and significant statistical effects on stock prices irrespective of the final results of the matches. This conclusion is valid for all analysed countries and competition type. We also show that stock market reaction is larger in some local markets than in others. Moreover, we examine the relationship between the number of goals scored and league stages effects, finding meaningful evidence of behavioural finance on investment decision-making processes.
Book Synopsis Handbook of Soccer Match Analysis by : Christopher Carling
Download or read book Handbook of Soccer Match Analysis written by Christopher Carling and published by Routledge. This book was released on 2007-01-24 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: Appealing to a wide audience, this ground-breaking handbook takes an in-depth look at soccer match analysis, highlighting the latest in match analysis research and the innovative technologies now being used by professional soccer clubs around the world. Bridging the gap between research, theory and practice, these methods can be used by coaches, sport scientists and fitness coaches to assess and improve: styles of play, technical ability and physical fitness objective performance feedback to players the development of specific training routines use of available notation software, video analysis and manual systems understanding of current academic research in soccer notational analysis. This is the first book to focus exclusively on football, and is based on the authors' extensive experience in academic and professional match analysis.
Book Synopsis Do Stock Markets React to Soccer Games? A Meta-Regression Analysis by : Jerome Geyer-Klingeberg
Download or read book Do Stock Markets React to Soccer Games? A Meta-Regression Analysis written by Jerome Geyer-Klingeberg and published by . This book was released on 2018 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study applies meta-regression analysis to aggregate a sample of 1,126 empirical estimates of the stock market reaction to soccer matches collected from 37 primary studies. Our results indicate that winning a match is not associated with significant return effects for both national teams and individual clubs. In the case of lost matches, we find strong evidence for publication bias, i.e. negative returns are systematically overrepresented causing a biased picture of the true soccer match effect. After correcting for this bias, the mean return after losses by national teams becomes statistically insignificant and accounts for only -5 basis points. In the case of individual clubs, the corrected impact of a loss is a significant -39 basis points effect. In a further analysis, we identify various aspects of study design like regional differences, time period under examination, and the design of empirical analysis to be responsible for the wide variation in previous study outcomes. Overall, our findings provide evidence against the hypothesis that stock markets are driven by sports sentiment in the case of national teams. Due to the existence of strong asymmetry in the returns after wins and losses of individual clubs, behavioural explanations cannot be fully ruled out.
Download or read book The People's Game? written by S. Morrow and published by Springer. This book was released on 2003-09-30 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: The beautiful game is big business. Football leagues worldwide are being dominated by clubs who are becoming richer and more powerful. Enormous corporate investment, deals with media giants, huge volumes of merchandising and dedicated TV channels mean that football teams are as concerned with the affairs of the boardroom as what is going on on the pitch. In this dynamic new book, Stephen Morrow examines the changing face of football, looking at issues such as the role of the stock exchange, the viability of the stakeholder approach, the 'new economics' of football including the role of media firms and the social impact of the sport.
