nep-spo New Economics Papers
on Sports and Economics
Issue of 2012‒02‒08
one paper chosen by
Joao Carlos Correia Leitao
University of Beira Interior and Technical University of Lisbon

  1. The news model of asset price determination - An empirical examination of the Danish football club Brøndby IF By Jørgensen, Casper W.; Moritzen, Mark R.; Stadtmann, Georg

  1. By: Jørgensen, Casper W. (University of Southern Denmark); Moritzen, Mark R. (University of Southern Denmark); Stadtmann, Georg (Department of Business and Economics)
    Abstract: According to the news model of asset price determination, only the unexpected component of an information should drive the stock price. We use the Danish publicly listed football club Brøndby IF to analyze how match outcome impacts the stock price. To disentangle gross news from net news, betting odd information is used to control for the expected match outcome.
    Keywords: News model; football industry; betting odds; stock market; market efficiency; event study
    JEL: G14 G32 L83
    Date: 2012–01–05

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