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We document that a huge frustration shock, clearly unrelated to government's actions, was perceived to lead to substantial punishment at the polls months later. In particular, we provide evidence that Brazil's 7-1 humiliating defeat to Germany in the 2014 World Cup was perceived by financial...
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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...
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show the relationship between the outcome of football events and stock returns, based on the thesis that sports results … affect investors'sentiment. We analyzed stock price performance indicators and football results, by taking 25 Soccer Listed … Companies into account. The most extensive database ever used (11,977 matches) has been considered. It includes football results …
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This contribution examines whether the share price of the Borussia Dortmund GmbH & Co. KgaA (BVB) behaves according to the (capital) market efficiency hypothesis of Fama (1970). The weak form of capital market inefficiency, according to which past share prices cannot be used for predictions in...
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The major objective of this study was to test if an official football club sponsorship announcement can influence … football clubs' stockholders' behavior: stock returns and stock volatility. The paper dealt with stock market reaction on … official football club sponsorship announcement using event-study method. Our research intention was to test 274 daily stock …
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