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on Sports and Economics |
| By: | Ogawa, Ryoh |
| Abstract: | This paper proposes an alternative approach to evaluate the effects of hosting mega-events, such as the Olympics, Football World Cup, and World Expo. Based on capitalization hypothesis, previous literature studies examined whether the announcement of mega-events affects prices of firms’ stock or real estate property. In contrast, I utilize data on Real Estate Investment Trust (REIT), whose price is a hybrid of stock and property. The standard event study methodology with high-frequent data allows the estimation of abnormal returns due to the mega-event of interest, and clarifies the relationship between level of returns and characteristics of REIT’s property. I present an empirical example—the 2020 Tokyo Olympics—and the results are as follows: 1) investors judged that the comprehensive effects would be positive; 2) the effect becomes smaller as the distance from Host City (Tokyo-to) increases; 3) even in areas far from Tokyo-to, real estate used for hotels and commercial facilities are relatively susceptible to the Olympics. |
| Keywords: | mega-events; Olympic Games; Real Estate Investment Trust; event study |
| JEL: | G14 L83 R30 R53 |
| Date: | 2017–05–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:78829&r=spo |
| By: | Christophe Ley; Yves Dominicy |
| Abstract: | We propose a new performance measure for table tennis players: the mutual point-winning probabilities (MPW) as server and receiver. The MPWs quantify a player's chances to win a point against a given opponent, and hence nicely complement the classical match statistics history between two players. We shall describe the MPWs, explain the statistics underpinning their calculation, and show via a Monte Carlo simulation study that our estimation procedure works well. As an illustration of the MPWs' versatile use, we use it as an alternative ranking method in two round-robin tournaments of ten respectively eleven table tennis players that we have ourselves organized. |
| Keywords: | bradley-terry model; maximum likelihood estimation; round-robin tournament; sport performance analysis; strength model |
| Date: | 2017–05 |
| URL: | http://d.repec.org/n?u=RePEc:eca:wpaper:2013/250695&r=spo |
| By: | Felfe, Christina; Lechner, Michael; Steinmayr, Andreas |
| Abstract: | The role of curricular activities for the formation of education, health and behavioural outcomes has been widely studied. Yet, the role of extra-curricular activities has received little attention. This study analyzes the effect of participation in sports clubs-one of the most popular extra-curricular activities among children. We use alternative datasets and flexible semi-parametric estimation methods with a specific way to use the panel dimension of the data to address selection into sports. We find positive and robust effects on children's school performance and peer relations. Crowding out of passive leisure activities can partially explain the effects. |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:lmu:muenar:37862&r=spo |
| By: | John C. Whitehead; Pamela Wicker |
| Abstract: | This study examines the monetary value of intangible benefits to participants of an active sport tourism event. Willingness to travel greater distances for future events is assessed and converted into willingness to pay estimates using travel costs. Using survey data from the 2014 and 2015 Blood Sweat Gears bike race, the intended visitation models show that changes in travel cost have a significant negative effect. Willingness to pay to revisit the event was between 10% and 30% of the registration fee. The likelihood of return visit decreases as travel costs increase, indicating that the willingness to pay estimates can be considered internally valid. The willingness to pay estimates stemming from two years of data collection are stable, suggesting that they are also temporally reliable. This study demonstrated the feasibility of using stated preference intention to revisit questions to assign a monetary value to intangible benefits of active sport tourists. Key Words: active sport tourism; cycling; intention to revisit; monetary valuation; non-market good; temporal reliability; willingness to pay |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:apl:wpaper:17-03&r=spo |