Effects of soccer on stock markets: the return-volatility relationship

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buir.contributor.authorBerument, Hakan
dc.citation.epage374en_US
dc.citation.issueNumber3en_US
dc.citation.spage368en_US
dc.citation.volumeNumber49en_US
dc.contributor.authorBerument, Hakanen_US
dc.contributor.authorCeylan, N. B.en_US
dc.date.accessioned2015-07-28T12:04:39Z
dc.date.available2015-07-28T12:04:39Z
dc.date.issued2012en_US
dc.departmentDepartment of Economicsen_US
dc.description.abstractThis paper assesses the effects of domestic soccer teams' performances against foreign rivals on stock market returns as well as on the return-volatility relationship. Data from Chile, Spain, Turkey and the United Kingdom support propositions that soccer teams results in international cups affect stock market returns and the return-volatility relationship. Evidence from Spain and the UK, soccer powerhouses, suggests that losses are associated with lower returns and higher risk aversion but evidence from Chile and Turkey, where soccer is the most important sport but teams are not as successful, reveals that wins are associated with higher returns and lower risk aversion. Crown Copyright (C) 2012 Published by Elsevier Inc. on behalf of Western Social Science Association. All rights reserved.en_US
dc.identifier.doi10.1016/j.soscij.2012.03.003en_US
dc.identifier.eissn1873-5355
dc.identifier.issn0362-3319
dc.identifier.urihttp://hdl.handle.net/11693/13110
dc.language.isoEnglishen_US
dc.publisherPergamon Pressen_US
dc.relation.isversionofhttp://dx.doi.org/10.1016/j.soscij.2012.03.003en_US
dc.source.titleThe Social Science Journalen_US
dc.subjectConditional heteroskedasticityen_US
dc.subjectInflationen_US
dc.subjectVarianceen_US
dc.subjectEmotionsen_US
dc.subjectRisken_US
dc.titleEffects of soccer on stock markets: the return-volatility relationshipen_US
dc.typeArticleen_US

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