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The purpose of this study is to test whether performances of football teams have impact on stock returns. The findings of the study point out those investors are able to get abnormal returns during the event window interval both in derbies and European Football Matches. In all European Football Matches, there exist abnormal returns in (-1, +1) event window regardless of the match results. In derbies however, only in the case of defeat, there is an abnormal return on the day after the match. Findings suggest that investors place more important a European football matches than derby matches however pay more attention to defeats triumph and draw.
Field : Eğitim Bilimleri; Sosyal, Beşeri ve İdari Bilimler
Journal Type : Uluslararası
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