Impact of Sports Results on Czech Stock Market
| Author: | Mgr. Michal Urban |
|---|---|
| Year: | 2017 - summer |
| Leaders: | PhDr. František Čech Ph.D. |
| Consultants: | |
| Work type: | Finance, Financial Markets and Banking Masters |
| Language: | English |
| Pages: | 68 |
| Awards and prizes: | |
| Link: | https://is.cuni.cz/webapps/zzp/detail/185587/ |
| Abstract: | This thesis analyses the impact of sports results on Czech stock market. As sports results we used the matches played by Czech national football and ice hockey teams in main international competitions. As a proxy for Czech stock market we use PX index, the official index of Prague Stock Exchange. In our thesis, we applied ARMA-GARCH-t model to study the impact of results. We found only negative effect after losses of Czech national football team. The effect was statistically significant when we controlled for importance of the matches and was stronger for elimination games. There was no significant effect after wins and draws. We also did not find any significant effect after matches of Czech national ice hockey team. |
