This paper assesses the effects of domestic football teams' performances against foreign rivals on stock market returns … propositions that the results of football teams in international cups affect (i) stock market returns and (ii) the risk …-return relationship. Evidence from Spain and the UK (countries considered football powerhouses) suggest that losses are associated with …

procedure, which outperforms the original shuffling procedure in the provided forecasting study. …

explanation for the negative forecasting results. The Analysis of Sports Forecasting: Modeling Parallels Between Sports Gambling …Given the magnitude of currency speculation and sports gambling, it is surprising that the literature contains mostly … negative forecasting results. Majority opinion still holds that short term fluctuations in financial markets follow random walk …