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    政大機構典藏 > 商學院 > 財務管理學系 > 期刊論文 >  Item 140.119/62427


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    題名: Local Sports Sentiment and Returns of Locally Headquartered Stocks: A Firm Level Analysis
    作者: 張紹基;陳聖賢;周冠男;林岳祥
    Chang, Shao-Chi;Chen, Sheng-Syan;Chou, Robin K.;Lin, Yueh-Hsiang
    貢獻者: 政大財管系
    關鍵詞: Behavior finance;Sports sentiment;Localized trading
    日期: 2012-06
    上傳時間: 2013-12-12 17:10:40 (UTC+8)
    摘要: We undertake a firm-level analysis of the relation between National Football League (NFL) game outcomes and the return patterns of Nasdaq firms headquartered geographically near the NFL teams. We find that a team`s loss leads to lower next-day returns for locally headquartered stocks and that this impact increases for a surprising loss or a critical game loss. The negative effects of game losses are stronger for stocks that are more vulnerable to shifts in sports sentiment. Our results suggest that the game outcomes of local sports teams influence investor sentiment, which significantly affects the returns of localized trading stocks.
    關聯: Journal of Empirical Finance, 19(3), 309-318
    資料類型: article
    DOI 連結: http://dx.doi.org/http://dx.doi.org/10.1016/j.jempfin.2011.12.005
    DOI: 10.1016/j.jempfin.2011.12.005
    顯示於類別:[財務管理學系] 期刊論文

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