The DOI matches its Crossref record; 2 of the 2 references it cites were found in a registry or an index.
Sports Sentiment and Stock Returns
Open accessAbstract
This paper investigates the stock market reaction to sudden changes in investor mood. Motivated by psychological evidence of a strong link between soccer outcomes and mood, we use international soccer results as our primary mood variable. We find a significant market decline after soccer losses. For example, a loss in the World Cup elimination stage leads to a next‐day abnormal stock return of −49 basis points. This loss effect is stronger in small stocks and in more important games, and is robust to methodological changes. We also document a loss effect after international cricket, rugby, and basketball games.
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Cites
Prospect Theory: An Analysis of Decision under Risk
Kahneman, D., & Tversky, A. (1979) · Econometrica · doi:10.2307/1914185 · Cited by 48,524
Engle, R. F. (1982) · Econometrica · doi:10.2307/1912773 · Cited by 20,795
Cited by
Twitter mood predicts the stock market
Bollen, J., Mao, H., & Zeng, X. (2011) · Journal of Computational Science · doi:10.1016/j.jocs.2010.12.007 · Cited by 5,206
Lerner, J. S., Li, Y., Valdesolo, P., & Kassam, K. S. (2015) · Annual Review of Psychology · doi:10.1146/annurev-psych-010213-115043 · Cited by 2,913
Psychology and Economics: Evidence from the Field
DellaVigna, S. (2009) · Journal of Economic Literature · doi:10.1257/jel.47.2.315 · Cited by 2,365
The Sum of All FEARS Investor Sentiment and Asset Prices
Da, Z., Engelberg, J., & Gao, P. (2015) · Review of Financial Studies · doi:10.1093/rfs/hhu072 · Cited by 1,379
Hirshleifer, D. (2015) · Annual Review of Financial Economics · doi:10.1146/annurev-financial-092214-043752 · Cited by 497
Metadata
- Authors
- EDMANS, A., GARCÍA, D., & NORLI, Ø.
- Venue
- The Journal of Finance
- Publisher
- Wiley
- Published
- 2007-08
- Volume
- 62
- Issue
- 4
- Pages
- 1967-1998
- ISSN
- 0022-1082 (ISSN-L)
- 1540-6261
- OpenAlex
- W2134183765
- Cited by
- 1,028
- References
- 2
- FWCI
- 49.60
- Type
- journal article
- Language
- en
- Open access
- green
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
