News and Events

News & Events

5 Sep 2018 "Does the Weighted Voting Rights (WVR) Structure Create Value for Shareholders in the Long Run?" Read more
4 Sep 2018 "Credit Rating Agencies and Accounting Frauds" Read more
18 Apr 2018 Our Students won the Nominated Case Award in 2017 Global Contest for the Best China-Focused Cases Read more
1 Jan 2018 AF Newsletter 2017 Read more


25 Feb 2018 TVB Big Big Chanenl Kids Talk: 小智慧 大理財︰用利是錢 教孩子 點理財 Read more


"Game Day Effect on Stock Market: Evidence from Four Major Sports Leagues in U.S."
by Dr Qingliang Fan, Xiamen University


Date   15 Mar 2018 (Thu)
Time   2:30pm - 4:00pm
Venue   Rm M714, 7/F, Li Ka Shing Tower, PolyU
Authors   Qingliang Fan (Xiamen University) and Ting Wang (North Carolina State University)
Abstract   This paper studies the sports games' impact on stock market in perspective of loss effect, rivalry games and media attention. The empirical results show that the loss of games are associated with decreasing of the subsequent daily franchises' local stock market returns. Winning rivalry games is found to be associated with higher stock returns. The game day effect is mitigated for games with higher media exposure. Specifically, we find that  the media attention will reduce the local stock returns in the case of winning games for NBA and NHL. At last, we examine the robustness of our finding by showing that the loss effect and win effect are the result of investor sentiment instead of the efficient market mechanism.


All are welcome!