Influence of MUFC's sport results on stock prices and indices on the stock exchanges in New York and London

Sebastian Majewski

Abstract


The main goal of the article is to prove that stock prices of Manchester United company depend on sport results of this football club. It will try to answer the question - does the rate of return on the shares of Manchester United (MU), listed on the stock exchange in New York, affect the results of sport events taking place with the participation of MUFC and its biggest competitor, Manchester City? In addition, a similar question is posed in relation to the FTSE100 index of the stock exchanges in London and the index DJFI. In order to verify the hypothesis, the sport performance of MUFC and its biggest rival in the Premiership - Manchester City betting odds for the matches these clubs played in the English league, English Cup and Champions League England in 2012-2014 will be tested. There will be also analyzed a very important event in the history of the club - the retirement of coach Sir Alex Ferguson. GARCH - type models (p, q) and some tools of statistics in the process of verifying the hypotheses will be used.

Full Text:

PDF (Język Polski)

References


Antonowicz D., Szlendak T., Kossakowski R., Piłkarz jako marka i peryferyjny kibic jako aborygen. O wybranych społecznych konsekwencjach komercjalizacji sportu, „Kultura i Społeczeństwo", Sport w kulturze, nr 3, Warszawa 2012.

Barberis N., Shleifer A., Vishny R., A model of investor sentiment, "Journal of Financial Econom- ics" 1998, 49.

Berument M.H., Ceylan B., Ogut-Eker G., Soccer, stock returns and fanaticism: Evidence from Turkey, "The Social Science Journal" 2009, no 46.

De Bondt W.F.M., Thaler R., Does the stock market overreact?, "Journal of Finance" 1985, 40.

Deloitte, All to play for Football Money League, Sport Business Group, 2014.

Fama E., Efficient Capital Markets: A Review of Theory and Empirical Work, "The Journal of Finance" 1970, 25 (2).

Hong H., Stein J.C., A Unified Theory of Underreaction, Momentum Trading, and Overreaction in Asset Markets, "The Journal of Finance" 1999, 54, no 6.

Majewski S., Wpływ czynników behawioralnych na rynkową wycenę akcji. Ujęcie ilościowe, WNUS, Szczecin 2012.

Michie J., Oughton C., The corporate governance of professional football clubs in England, "Cor- porate Governance" 2005, vol. 13, no 4.

Neale W.C., The peculiar economics of professional sports, "The Quarterly Journal of Economics" 1964, no 78 (1).

Prabucki B., Gry sportowe jako element wzmacniający współczesne tożsamości etniczne. Analiza na przykładzie Basków, „Homo Ludens" 2012, nr 1 (4).

Psychologia ekonomiczna, T. Tyszka (red.), Gdańskie Wydawnictwo Psychologiczne, Gdańsk 2004.

Sznajder A., Charakterystyka rynku sportu profesjonalnego, „Gospodarka Narodowa" 2007, nr 10.

Szymanski S., Smith R., The English Football Industry: profit, performance and industrial struc- ture, "International Review of Applied Economics" 1997, 11:1.

Taylor M., The association game. A history of British football, Routledge, Oxon-Nowy Jork 2013.




DOI: http://dx.doi.org/10.17951/h.2014.48.3.207
Date of publication: 2015-05-23 19:36:29
Date of submission: 2015-05-23 11:10:21


Statistics


Total abstract view - 418
Downloads (from 2020-06-17) - PDF (Język Polski) - 0

Indicators



Refbacks

  • There are currently no refbacks.


Copyright (c) 2015 Sebastian Majewski

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.