Football and Stock Returns: New Evidence
2014; Elsevier BV; Volume: 14; Linguagem: Inglês
10.1016/s2212-5671(14)00703-5
ISSN2212-5671
Autores Tópico(s)Financial Risk and Volatility Modeling
ResumoAbstract We consider data information from four football clubs, Porto and Benfica (Portugal), Juventus (Italy) and Ajax (the Netherlands), to test the link between their European performance (wins/draws/losses) and their stock returns. We report (a) positive effects of draws on Benfica's and Ajax's stock returns, and (b) a negative effect of draws and losses on Juventus's stock returns. No effects reported for Porto club. These findings are recommended to financial managers and investors dealing with football stock prices.
Referência(s)