Effects of COVID-19 on Football Stock Market's Return and Uncertainty
Özet
The cancellation of mass gatherings was one of the earliest measures implemented to combat the spread of COVID-19. One of the sectors affected by this situation was sports organizations. The study aimed to analyze the impact of COVID-19 on the returns and volatility of football club stocks using mean and variance estimates. In line with this aim, the Stoxx Football Index was used to estimate the stocks of football clubs, and a dummy variable was used to estimate the effect of COVID-19. According to the analyses, it was found that COVID-19 had a negative and statistically significant impact on football index revenue. On the other hand, the results of the second moment analysis, the EGARCH-X model, suggested an increase in the Stoxx Football Index conditional variance (volatility) due to COVID-19.
Anahtar kelimeler
Sürdürülebilir Kalkınma Amaçları
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SKA 3: Sağlıklı Bireyler
Atıf için künye
Bedir, F., Bozma, G., Turan, M., & Mızrak, O. (2022). Effects of COVID-19 on Football Stock Market's Return and Uncertainty. INTERNATIONAL JOURNAL OF SPORT FINANCE, 17(3), 140–153.
BibTeX
@article{bedir2022-307774,
author = {Bedir, Fatih and Bozma, Gürkan and Turan, Murat and Mızrak, Orcan},
title = {Effects of COVID-19 on Football Stock Market's Return and Uncertainty},
journal = {INTERNATIONAL JOURNAL OF SPORT FINANCE},
year = {2022},
volume = {17},
number = {3},
pages = {140--153},
issn = {1558-6235},
url = {https://akademik.atauni.edu.tr/yayinlar/307774-effects-of-covid-19-on-football-stock-markets-return-and-uncertainty}
}