A rational asymmetric reaction to news: evidence from English football clubs

Using a large dataset of matches played between two publicly traded English football (soccer) clubs, we test for and confirm an asymmetric market reaction to winning and losing and that the stock market respond stronger and slower to bad news (losing) than good news (winning). In contrast to previou...

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Veröffentlicht in:	Review of quantitative finance and accounting 2018-08, Vol.51 (2), p.347-374
Hauptverfasser:	Berkowitz, Jason P., Depken, Craig A.
Format:	Artikel
Sprache:	eng
Schlagworte:	Accounting/Auditing Asymmetry Clubs Corporate Finance Econometrics Economic models Economics and Finance Finance Financial performance Football Good news Losing News Operations Research/Decision Theory Original Research Professional soccer Securities markets
Online-Zugang:	Volltext
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