Soccer and stock market risk: empirical evidence from the Istanbul stock exchange

Date
2013
Advisor
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Co-Advisor
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Instructor
Source Title
Psychological Reports
Print ISSN
0033-2941
Electronic ISSN
1558-691X
Publisher
Sage Publications, Inc.
Volume
112
Issue
3
Pages
763 - 770
Language
English
Type
Article
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Abstract

There is an emerging but important literature on the effects of sport events such as soccer on stock market returns. After a soccer team's win, agents discount future events more favorably and increase risk tolerance. Similarly, after a loss, risk tolerance decreases. This paper directly assesses risk tolerance after a sports event by using daily data from the three major soccer teams in Turkey (Beşiktaş, Fenerbahçe and Galatasaray). Results provide evidence that risk tolerance increases after a win, but similar patterns were not found after a loss. © Psychological Reports 2013.

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Keywords
Commercial phenomena, Human, Risk, Soccer, Statistics, Commerce, Turkey
Citation
Published Version (Please cite this version)