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Modelling of football companies' rates of return according to sport results and bookmakers' expectations on the example of serie A

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  • Majewski, Sebastian

Abstract

The main goal of this article is to investigate whether the rates of return on listed companies - football clubs can affect their athletic performance or bookmakers' market expectations. For this purpose 2001-2014 stock prices were collected of three companies - AS Roma, Juventus and SS Lazio - listed on the Milan Stock Exchange as well as their betting odds from the website www.betexplorer.com. The assumption that there are relationships between financial factors and results of sport events or bookmakers’ expectation was posed after the study of the world literature in this field.

Suggested Citation

  • Majewski, Sebastian, 2014. "Modelling of football companies' rates of return according to sport results and bookmakers' expectations on the example of serie A," Business and Economic Horizons (BEH), Prague Development Center (PRADEC), vol. 10(3), pages 1-9.
    • Handle: RePEc:ags:pdcbeh:246032
    DOI: 10.22004/ag.econ.246032
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    References listed on IDEAS

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    1. Walter C. Neale, 1964. "The Peculiar Economics of Professional Sports," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 78(1), pages 1-14.
    2. Alex Edmans & Diego García & Øyvind Norli, 2007. "Sports Sentiment and Stock Returns," Journal of Finance, American Finance Association, vol. 62(4), pages 1967-1998, August.
    3. Jonathan Michie & Christine Oughton, 2005. "The Corporate Governance of Professional Football Clubs in England," Corporate Governance: An International Review, Wiley Blackwell, vol. 13(4), pages 517-531, July.
    4. De Bondt, Werner F M & Thaler, Richard, 1985. "Does the Stock Market Overreact?," Journal of Finance, American Finance Association, vol. 40(3), pages 793-805, July.
    5. Bollerslev, Tim, 1986. "Generalized autoregressive conditional heteroskedasticity," Journal of Econometrics, Elsevier, vol. 31(3), pages 307-327, April.
    6. Alessandro Baroncelli & Raul Caruso, 2011. "The Organization And Economics Of Italian Serie A: A Brief Overall View," Rivista di Diritto ed Economia dello Sport, Centro di diritto e business dello Sport, vol. 7(2), pages 67-85, September.
    7. Di Domizio Marco, 2010. "Competitive balance and TV audience: An empirical analysis on the Italian Serie A," wp.comunite 0064, Department of Communication, University of Teramo.
    8. Mehmet Saraç & Feyyaz Zeren, 2013. "The Effect of Soccer Performance on Stock Return: Empirical Evidence From “The Big Three Clubs†of Turkish Soccer League," Journal of Applied Finance & Banking, SCIENPRESS Ltd, vol. 3(5), pages 1-20.
    9. Engle, Robert F, 1982. "Autoregressive Conditional Heteroscedasticity with Estimates of the Variance of United Kingdom Inflation," Econometrica, Econometric Society, vol. 50(4), pages 987-1007, July.
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    Cited by:

    1. Robert Ślepaczuk & Igor Wabik, 2020. "The impact of the results of football matches on the stock prices of soccer clubs," Working Papers 2020-35, Faculty of Economic Sciences, University of Warsaw.
    2. Jerome Geyer-Klingeberg & Markus Hang & Matthias Walter & Andreas Rathgeber, 2018. "Do stock markets react to soccer games? A meta-regression analysis," Applied Economics, Taylor & Francis Journals, vol. 50(19), pages 2171-2189, April.

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