Stock Markets’ Reactions to the Announcement of the Hosts. An Event Study in the Analysis of Large Sporting Events in the Years 1976–2032 - Publication - Bridge of Knowledge

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Stock Markets’ Reactions to the Announcement of the Hosts. An Event Study in the Analysis of Large Sporting Events in the Years 1976–2032

Abstract

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.

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DOI:
Digital Object Identifier (open in new tab) 10.1177/15270025231156051
License
Copyright (2023 SAGE Publications)

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Category:
Articles
Type:
artykuły w czasopismach
Published in:
Journal of Sports Economics no. 24, pages 1 - 43,
ISSN: 1527-0025
Language:
English
Publication year:
2023
Bibliographic description:
Zawadzki K., Potrykus M.: Stock Markets’ Reactions to the Announcement of the Hosts. An Event Study in the Analysis of Large Sporting Events in the Years 1976–2032// Journal of Sports Economics -Vol. 24,iss. 6 (2023), s.1-43
DOI:
Digital Object Identifier (open in new tab) 10.1177/15270025231156051
Sources of funding:
  • Free publication
Verified by:
Gdańsk University of Technology

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