Stock Markets’ Reactions to the Announcement of the Hosts. An Event Study in the Analysis of Large Sporting Events in the Years 1976–2032
| Autor: | Krystian Zawadzki, Marcin Potrykus |
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| Rok vydání: | 2023 |
| Předmět: | |
| Zdroj: | Journal of Sports Economics. :152700252311560 |
| ISSN: | 1552-7794 1527-0025 |
| Popis: | This study attempts to estimate the impact of the announcements of hosts of large sporting events on domestic stock markets. The research problem is to establish a connection between the uniqueness of a sporting event and investors’ beliefs through stock price behavior. Using appropriate estimation windows, 13 different sporting events classified as large, including mega and major events, were tested. The obtained results show that, in principle, one day after the announcement of the host of a large sporting event, an average positive reaction of 0.22% is observed on national stock exchanges. The analyzed events were also classified as being neutral for capital markets or generating positive or negative reactions when the host country is announced to the public. |
| Databáze: | OpenAIRE |
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