这个paper挺有意思的，推荐看一看

“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 −38 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.”

49937.pdf
大小:(287.06 KB)

 马上下载

[此贴子已经被作者于2006-4-25 14:08:07编辑过]