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The Effects of Sporting Success on Stock Returns: An Application in Istanbul Stock Exchange

Author

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  • Alper Veli ÇAM

    (Gumushane University, Turkey)

Abstract

The purpose of this study is to analyze the effects of the match results of open joint football clubs on stock returns. Through the purpose, the results which are obtained in Turkey Super League by Fenerbahçe, Galatasaray, Beþiktaþ and Trabzonspor whose stocks are dealt in Istanbul Stock Exchange (BIST) and stock returns are analyzed in this study. The related teams’ match results and beta coefficients are considered as independent variable whereas stock returns are regarded as dependent variable. The study incorporates 3-year period including 2012-2013, 2013-2014 and 2014-2015. In the conclusion of the study in which econometrical modeling is utilized, it is found out that losses have greater impacts on stock returns comparing to deuce and winning. Additionally, it is also established that all kinds of results obtained by Galatasaray club has impact on stock returns on the other hand only the losses results of Fenerbahçe and Trabzonspor have effects on stock returns.

Suggested Citation

  • Alper Veli ÇAM, 2015. "The Effects of Sporting Success on Stock Returns: An Application in Istanbul Stock Exchange," Journal of Economics Library, KSP Journals, vol. 2(3), pages 147-154, September.
    • Handle: RePEc:ksp:journ5:v:2:y:2015:i:3:p:147-154
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    References listed on IDEAS

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    More about this item

    Keywords

    Stock returns; Match results; Football industry; Stock market.;
    All these keywords.

    JEL classification:

    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
    • C5 - Mathematical and Quantitative Methods - - Econometric Modeling
    • P45 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - International Linkages

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