Davranışsal Finans
6 Mayıs 2012 Pazar
Soccer, Stock Returns and Beşiktaş
"Society attaches importance to the succeses and failures of major sports teams. The Suporters of a soccer team feel proud and happy when their team wins and they feel depressed and unhappy when their team loses. Thus any investment decision a fan makes may be affected by on the performance of his or her team. It has been reported that a good result in soccer affects a trader's moods or psychological well-being. Berument, Ceylan and Ogut-Eker (2009), reports the estimates of an empirical exercise that ties the success of Turkey's three major soccer teams ( Beşiktaş, Fenerbahçe and Galatasaray). The Results are in line with the proposition that wins are associated with higher returns. Moreover, when the team's performances assesed individually, the findings show that stock market returns increased following Beşiktaş's (Whose fans have a high rate of fanaticsm) wins againist foreign rivals".
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Ana Sayfa