SOCCER AND STOCK MARKET RISK: EMPIRICAL EVIDENCE FROM THE ISTANBUL STOCK EXCHANGE
PSYCHOLOGICAL REPORTS, cilt.112, sa.3, ss.763-770, 2013 (SSCI, Scopus)
- Yayın Türü: Makale / Tam Makale
- Cilt numarası: 112 Sayı: 3
- Basım Tarihi: 2013
- Doi Numarası: 10.2466/17.05.pr0.112.3.763-770
- Dergi Adı: PSYCHOLOGICAL REPORTS
- Derginin Tarandığı İndeksler: Social Sciences Citation Index (SSCI), Scopus
- Sayfa Sayıları: ss.763-770
- Açık Arşiv Koleksiyonu: AVESİS Açık Erişim Koleksiyonu
- Ankara Yıldırım Beyazıt Üniversitesi Adresli: Evet
Özet
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 (Besiktas, Fenerbahce and Galatasaray). Results provide evidence that risk tolerance increases after a win, but similar patterns were not found after a loss.