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The impact of England's national football team performance on the London stock exchange: an event study analysis
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Resumo(s)
This study investigates the influence of the England national football team’s performance in
major tournaments on the London Stock Exchange. Utilizing an event study methodology, it
examines FTSE 100 trading volumes and the stock returns of ITV and Unilever, representing
the entertainment and consumer goods sectors, respectively. The results reveal no statistically
significant relationship between match outcomes and financial metrics. These findings suggest
that investor sentiment related to football results does not materially impact financial markets
during the studied period. This research contributes to the literature by addressing conflicting
findings in prior studies, highlighting the role of methodology and sample periods in
understanding the relationship between non-economic events and market behavior.
Descrição
Palavras-chave
Event study Behavioral finance Efficient market hypothesis England National Football Team London Stock Exchange Abnormal returns