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New evidence on the impact of the English national soccer team on the FTSE 100

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  • Bauckloh, Tobias
  • Heiden, Sebastian
  • Klein, Christian
  • Zwergel, Bernhard

Abstract

During the last decades, many empirical studies have indicated a significant influence of noneconomic factors on asset pricing. More recently, it seems to be acknowledged that international soccer match results significantly affect subsequent daily returns of national stock markets via investor sentiment. In this article, we provide evidence that such observations should be treated with caution. Resuming a current debate on the link between the performance of England's national soccer team and FTSE 100 returns, we validate findings made by Ashton et al. (2011). Our results raise doubts on their conclusions and emphasize the importance of thoroughly validating empirical results.

Suggested Citation

  • Bauckloh, Tobias & Heiden, Sebastian & Klein, Christian & Zwergel, Bernhard, 2019. "New evidence on the impact of the English national soccer team on the FTSE 100," Finance Research Letters, Elsevier, vol. 28(C), pages 61-67.
    • Handle: RePEc:eee:finlet:v:28:y:2019:i:c:p:61-67
    DOI: 10.1016/j.frl.2018.04.001
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    References listed on IDEAS

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    9. Yuan, Kathy & Zheng, Lu & Zhu, Qiaoqiao, 2006. "Are investors moonstruck? Lunar phases and stock returns," Journal of Empirical Finance, Elsevier, vol. 13(1), pages 1-23, January.
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    Cited by:

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