Footnote:
In: Sport in Society, 1-12, 2014
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments September 3, 2014 erstellt
Description:
We investigate the impact that investor sentiment can have on stock market following performances by the national cricket teams of India and Australia in one-day cricket matches from 1990 to 2011. Motivated by previous findings of cricket's impacts on stock markets, this study expands on previous research by investigating whether performances of individuals within the teams can also have an impact on their respective leading stock indices. Using an event study, we find no evidence of player or team performances significantly impacting the stock or futures markets. However, we find evidence of a ‘mood effect' of poor performance by key players of national cricket teams in terms of significant drop in trading volumes in the following day. Our research poses and statistically examines some interesting questions and opens up the field for further research on this intriguing topic of sporting event impacts on national economies