THE IMPACT OF FOOTBALL MATCH SCORES OF RIVALS ON STOCK PRICES
Journal Title: Muhasebe ve Vergi Uygulamaları Dergisi - Year 2018, Vol 10, Issue
Abstract
Traditional finance theory which assumes that all the individuals are rational, remains incapable of describing the preference of the investors between the risk and return. As a consequence of that, the concept of behavioral finance emerged. The researches conducted within this concept show that individuals display irrational manner. According to the aforementioned studies, demographic information of the investors like age, gender, educational background, average monthly income besides living environment, physiological state etc. have an impact on decisions that will be made. The aim of this study is to detect whether the individual investors who invest in the stocks of football clubs will abide by the "Effect of Schadenfreude" or not. "Schadenfreude" hails from a German dialect and has the meaning of getting pleasure of rivals' failure and gloating. In this context, the competition results of two rival, Galatasaray and Fenerbahçe football teams traded in Borsa İstanbul A. Ş. and the stock prices before and after the competition were analyzed. As a result of the analysis, it is found that there are differences between Fenerbahçe's stock returns at different situation (Fenerbahçe's stock return when Fenerbahçe and Galatasaray win or lose at the same week; Fenerbahçe's stock return when Fenerbahçe / Galatasaray win - Galatasaray / Fenerbahçe lose at the same week).
Authors and Affiliations
Çağatay ORÇUN, Ahmet Galip GENÇYÜREK, Ramazan EKİNCİ
Keywords
Related Articles
- EP ID EP414742
- DOI 10.29067/muvu.340711
- Views 117
- Downloads 0
THE EVALUATION OF SPECIALIZED ACCOUNTING COURSES IN ACCOUNTING EDUCATION AT UNDERGRADUATE LEVEL
The globalization that started in the 20th century caused innovation and development in many areas, and the world of commercial activity and science were also influenced by globalization. The fields of accounting, financ...
INNOVATIVE MANAGEMENT MODEL: MANAGEMENT WITHOUT BUDGET (BEYOND BUDGETING)
Budgets are defined as a detailed action plan that shows the expected profit, cash flows and financial position of the entity over a period of time, and has played a key role in management's planning and control function...
PREDICTION OF CORPORATE GOVERNANCE-PERFORMANCE RELATIONSHIP WITH A DYNAMIC MODEL
The objective of this study is to examine whether there is a relationship between the performances and corporate governance levels of companies traded in corporate governance index between 2007 and 2015 in Turkey, which...
EVALUATION OF THE RELATIONSHIP BETWEEN CORPORATE GOVERNANCE AND FINANCIAL PERFORMANCE BY ENTROPY BASED TOPSIS METHOD: A STUDY ON FOOD AND BEVERAGE COMPANIES TRADED ON THE ISTANBUL STOCK EXCHANGE (BIST)
In many studies it is addressed that corporate governance practices have a positive impact on the financial performance of companies. This study aims to evaluate the relationship between corporate governance practices an...
ANALYSIS OF OCCUPATIONAL COMMITMENT AND JOB IMPACT ON THE PROFITABILITY OF THE BOARD OF DIRECTORS WITH POST-GRADUATION DEGREE IN TURKISH BANKS: EVIDENCE FROM BORSA ISTANBUL BANKS AND SPECIAL FINANCE CORPORATIONS SECTOR
The effect of management diversification on company profitability has been an issue of debate for a long time. Management of banks, which is one of the fundamental building stones of economy, is important from this aspec...