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International Journal of Sport Finance最新文献

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Sports Sentiment and Return Differentials of Cross-Listed Firms: Evidence from Chinese A- and H-Shares 跨上市公司的体育情绪与收益差异——来自中国A股和H股的证据
IF 1 4区 经济学
International Journal of Sport Finance Pub Date : 2023-08-01 DOI: 10.32731/ijsf/183.082023.02
Qinqin Wu, Robin K. Chou, Jing Lu
{"title":"Sports Sentiment and Return Differentials of Cross-Listed Firms: Evidence from Chinese A- and H-Shares","authors":"Qinqin Wu, Robin K. Chou, Jing Lu","doi":"10.32731/ijsf/183.082023.02","DOIUrl":"https://doi.org/10.32731/ijsf/183.082023.02","url":null,"abstract":"We explore the relationship between the Chinese Football Association Super League (CSL) game outcomes and the returns differentials of Chinese cross-listed A- and H-shares. We find that a team’s win leads to a significant rise in the next-day return differentials for locally headquartered firms. Furthermore, the win effects are more pronounced for critical games, games with high attention, and firms with low institutional investor shareholding. In contrast, the loss effects are more significant if a CSL team loses by a margin of more than 2.5 points. Additionally, sports sentiment mainly affects high-liquidity sectors because their silent characteristic tends to be compatible with sports sentiment.","PeriodicalId":45894,"journal":{"name":"International Journal of Sport Finance","volume":" ","pages":""},"PeriodicalIF":1.0,"publicationDate":"2023-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49268875","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The Stock Market Reaction to the 2020 Tokyo Olympics: Evidence from Japanese Sponsors and Taiwanese Olympic-Related Firms 股市对2020年东京奥运会的反应：来自日本赞助商和台湾奥运相关公司的证据
IF 1 4区 经济学
International Journal of Sport Finance Pub Date : 2023-08-01 DOI: 10.32731/ijsf/183.082023.03
Huei-Fu Lu
{"title":"The Stock Market Reaction to the 2020 Tokyo Olympics: Evidence from Japanese Sponsors and Taiwanese Olympic-Related Firms","authors":"Huei-Fu Lu","doi":"10.32731/ijsf/183.082023.03","DOIUrl":"https://doi.org/10.32731/ijsf/183.082023.03","url":null,"abstract":"This study aimed to examine the impact of a major sporting event, the 2020 Tokyo Olympics, on abnormal returns of Japanese sponsors and Taiwanese Olympic-related stock prices during three different periods, including the hosting announcement, the postponement in light of the COVID-19 pandemic, and the holding as scheduled. Using the event study approach, secondary data were collected to investigate the fluctuation of abnormal returns of official Japanese sponsors and Taiwanese Olympic-related stocks. The empirical evidence showed that Olympics-related news disclosures significantly affected the abnormal returns of official sponsors’ stock prices during both the periods of the hosting announcement and the postponement announcement but not during the period of holding as scheduled. This study also verified that the postponement announcement of the 2020 Tokyo Olympics and its holding as scheduled would generate positive and negative spillover effects on the stock market of a non-host country.","PeriodicalId":45894,"journal":{"name":"International Journal of Sport Finance","volume":" ","pages":""},"PeriodicalIF":1.0,"publicationDate":"2023-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45628885","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Firm Behavior Under Conditions of Final Offer Arbitration: An Empirical Analysis of Major League Baseball’s Salary Negotiation Structure 最终报价仲裁条件下的企业行为——美国职业棒球大联盟薪酬谈判结构的实证分析
IF 1 4区 经济学
International Journal of Sport Finance Pub Date : 2023-08-01 DOI: 10.32731/ijsf/183.082023.01
Jonathan N. Brown
{"title":"Firm Behavior Under Conditions of Final Offer Arbitration: An Empirical Analysis of Major League Baseball’s Salary Negotiation Structure","authors":"Jonathan N. Brown","doi":"10.32731/ijsf/183.082023.01","DOIUrl":"https://doi.org/10.32731/ijsf/183.082023.01","url":null,"abstract":"This paper explores the use of final offer interest arbitration (FOA) in Major League Baseball (MLB) and whether arbitrated salaries differ meaningfully from private settlements. MLB provides an excellent environment to analyze FOA because it is common practice for eligible players and their teams to announce official intended arbitration figures well in advance of hearings but ultimately privately negotiate a contract in the interim. This allows for consideration of the bounded arbitrated salary environment even when a hearing is avoided. Results reaffirm the findings of Burgess and Marburger (1993), which suggested that arbitrated salaries are of “low quality” in that the distribution range is wider for arbitration compared to private negotiation. Second, this paper contributes to existing literature by expanding analysis to including quantile regression, which indicates that not only is contract length positively correlated with players’ salaries but also statistically significant differences in this effect exist throughout the distribution.","PeriodicalId":45894,"journal":{"name":"International Journal of Sport Finance","volume":" ","pages":""},"PeriodicalIF":1.0,"publicationDate":"2023-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46928820","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Team Masculinity and Performance: Evidence from Major League Soccer 团队男子气概和表现:来自美国职业足球大联盟的证据
IF 1 4区 经济学
International Journal of Sport Finance Pub Date : 2023-05-01 DOI: 10.32731/ijsf/182.052023.03
Dmitry Kirpishchikov, Petr Parshakov, M. Zavertiaeva
{"title":"Team Masculinity and Performance: Evidence from Major League Soccer","authors":"Dmitry Kirpishchikov, Petr Parshakov, M. Zavertiaeva","doi":"10.32731/ijsf/182.052023.03","DOIUrl":"https://doi.org/10.32731/ijsf/182.052023.03","url":null,"abstract":"Previous papers provide evidence that psychological characteristics such as personal masculinity are related to performance. Although relationships have been well established on an individual level, there has been little attempt to analyze the performance of teams that diverge in terms of masculinity. This paper studies the impact of team masculinity on its performance, paying particular attention to the connection between masculinity and cooperative behavior within a team. We use data on Major League Soccer teams because sports competitions represent a good ground for demonstrating masculinity and provide open data. Our results suggest a positive connection between the group’s average masculinity and its performance. We test whether this fact can be explained by increased in-group cooperation, first revealed in Stirrat and Perrett’s experimental study (2012) but do not find any relationship. As for the team’s diversity in masculinity, we do not find any impact on team performance.","PeriodicalId":45894,"journal":{"name":"International Journal of Sport Finance","volume":" ","pages":""},"PeriodicalIF":1.0,"publicationDate":"2023-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43562432","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
On Sports Betting and Uncertainty of Outcome 论体育博彩与结果的不确定性
IF 1 4区 经济学
International Journal of Sport Finance Pub Date : 2023-05-01 DOI: 10.32731/ijsf/182.052023.04
Thomas J. Miceli
{"title":"On Sports Betting and Uncertainty of Outcome","authors":"Thomas J. Miceli","doi":"10.32731/ijsf/182.052023.04","DOIUrl":"https://doi.org/10.32731/ijsf/182.052023.04","url":null,"abstract":"This paper provides an explanation for sports betting that does not appeal to risk-preferring preferences. The strategy is to link betting to the uncertainty of outcome hypothesis, a cornerstone of sports economics. The model relies on the inclusion of a contest utility function as part of a fan’s overall utility. The analysis focuses on point-spread betting and shows that sports fans can increase their contest utility by placing a bet if the contest is unequal and if they are either non-partisan or are sufficiently strong supporters of the underdog. When these conditions are met, an individual will place the bet if the utility gain offsets the expected cost.","PeriodicalId":45894,"journal":{"name":"International Journal of Sport Finance","volume":" ","pages":""},"PeriodicalIF":1.0,"publicationDate":"2023-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45499470","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Spectator Interest in Attending Future Danish Men’s National Soccer Team Matches: A Study of Demand 观众对观看未来丹麦男子国家足球队比赛的兴趣:需求研究
IF 1 4区 经济学
International Journal of Sport Finance Pub Date : 2023-05-01 DOI: 10.32731/ijsf/182.052023.01
R. Storm, T. Jakobsen, Nikolaj Schelde
{"title":"Spectator Interest in Attending Future Danish Men’s National Soccer Team Matches: A Study of Demand","authors":"R. Storm, T. Jakobsen, Nikolaj Schelde","doi":"10.32731/ijsf/182.052023.01","DOIUrl":"https://doi.org/10.32731/ijsf/182.052023.01","url":null,"abstract":"Existing research on spectator demand tends to focus primarily on elite club sport. This paper aims to expand on the literature by applying regression models to a large and unique set of survey data collected from Danish men’s national soccer team matches held from 2013 to 2017. The output from our models suggests that the number of matches attended is positively related to future demand, as are the results of the matches. Our results have implications for managers of national sports federations because they provide information on how spectators’ interest in and intention to attend matches involving national teams are related, which can assist them in improving spectator demand in the future.","PeriodicalId":45894,"journal":{"name":"International Journal of Sport Finance","volume":" ","pages":""},"PeriodicalIF":1.0,"publicationDate":"2023-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46880348","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Does Foreign Investment Affect Sporting and Managerial Efficiency? The Case of English Football Clubs 外国投资影响体育和管理效率吗?英国足球俱乐部的案例
IF 1 4区 经济学
International Journal of Sport Finance Pub Date : 2023-05-01 DOI: 10.32731/ijsf/182.052023.02
J. Cordero, J. del Corral, Carlos Gomez-Gonzalez, C. Polo
{"title":"Does Foreign Investment Affect Sporting and Managerial Efficiency? The Case of English Football Clubs","authors":"J. Cordero, J. del Corral, Carlos Gomez-Gonzalez, C. Polo","doi":"10.32731/ijsf/182.052023.02","DOIUrl":"https://doi.org/10.32731/ijsf/182.052023.02","url":null,"abstract":"The number of foreign owners in football clubs has recently increased in Europe and especially in England. This study aims to analyze whether clubs owned by foreign investors show different parameters of sporting and managerial efficiency. We use data on expected performance (from betting odds), wage costs, and the results of football clubs in the English Premier League (EPL) and English Football League Championship (EFL) over 13 seasons. We estimate different measures of efficiency using three alternative methods: expected vs. actual performance index, nonparametric conditional data envelopment analysis (DEA), and stochastic frontier, while considering foreign ownership as an exogenous factor. Our results suggest that there are not significant differences between domestic-and foreign-owned clubs.","PeriodicalId":45894,"journal":{"name":"International Journal of Sport Finance","volume":" ","pages":""},"PeriodicalIF":1.0,"publicationDate":"2023-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48275124","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Estimating the Implied Probabilities in the Tennis Betting Market: A New Normalization Procedure: Comment 网球博彩市场隐含概率的估计：一种新的规范化方法
IF 1 4区 经济学
International Journal of Sport Finance Pub Date : 2023-02-01 DOI: 10.32731/ijsf/181.022023.05
Jason P. Berkowitz, C. Depken, J. Gandar
{"title":"Estimating the Implied Probabilities in the Tennis Betting Market: A New Normalization Procedure: Comment","authors":"Jason P. Berkowitz, C. Depken, J. Gandar","doi":"10.32731/ijsf/181.022023.05","DOIUrl":"https://doi.org/10.32731/ijsf/181.022023.05","url":null,"abstract":"In this note, we comment on a recent paper in the journal that proposes a new normalization procedure when converting tennis betting odds to the implied probabilities of each player winning. The new procedure is especially germane for matches in which there is a heavy favorite and where there is concern that traditional conversion methods understate the true probability of the favorite winning. However, in this comment, we argue that the new adjustment, while an interesting contribution, suffers from at least three limitations that make the procedure relatively costly while not materially improving predictions of match outcomes.","PeriodicalId":45894,"journal":{"name":"International Journal of Sport Finance","volume":" ","pages":""},"PeriodicalIF":1.0,"publicationDate":"2023-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46018752","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Demand for Basketball: A Comparison of the WNBA and NBA 篮球需求:WNBA和NBA的比较
IF 1 4区 经济学
International Journal of Sport Finance Pub Date : 2023-02-01 DOI: 10.32731/ijsf/181.022023.03
N. Agha, D. Berri
{"title":"Demand for Basketball: A Comparison of the WNBA and NBA","authors":"N. Agha, D. Berri","doi":"10.32731/ijsf/181.022023.03","DOIUrl":"https://doi.org/10.32731/ijsf/181.022023.03","url":null,"abstract":"There is considerable discussion regarding interest in women’s basketball, with critics often comparing the Women’s National Basketball Association (WNBA) and the National Basketball Association (NBA). This comparison is problematic because the WNBA is in an early growth phase while the NBA organizational life cycle position is far more mature. We investigate whether the demand features of early growth leagues are similar by comparing attendance data from the 8th‒21st seasons of the WNBA with attendance from the same point in NBA history and the current NBA. We find the factors that affect demand in the WNBA are uniquely different than the NBA in both size and significance in either period; thus, it is inappropriate to compare the two leagues.","PeriodicalId":45894,"journal":{"name":"International Journal of Sport Finance","volume":" ","pages":""},"PeriodicalIF":1.0,"publicationDate":"2023-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48660184","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Contestant Heterogeneity and Hack-a-Shaq Strategy in Team Efforts in Professional Basketball Games 职业篮球比赛队员异质性与砍鲨策略
IF 1 4区 经济学
International Journal of Sport Finance Pub Date : 2023-02-01 DOI: 10.32731/ijsf/181.022023.01
Wen‐Jhan Jane, S. Chen, Ying-Jie Su
{"title":"Contestant Heterogeneity and Hack-a-Shaq Strategy in Team Efforts in Professional Basketball Games","authors":"Wen‐Jhan Jane, S. Chen, Ying-Jie Su","doi":"10.32731/ijsf/181.022023.01","DOIUrl":"https://doi.org/10.32731/ijsf/181.022023.01","url":null,"abstract":"This article addresses the issue of contestant heterogeneity (CH) in team efforts in National Basketball Association games for the three seasons from 2013/14 to 2015/16. The results show that two teams’ total efforts regarding rebounds and fouls increase as CH becomes smaller. The evidence thus indicates that the two teams play harder the smaller that CH is. In the analysis of the effects of heterogeneity on the favorite’s and the underdog’s efforts, the results show that each tries harder when CH is reduced and makes less effort as it becomes larger. These results support the contamination hypothesis. The checks for robustness in the panel regressions and results of Hack-a-Shaq strategy reinforce these conclusions. The evidence also shows that the appearance of the previous year’s champion in a game decreases the two teams’ total number of rebounds and fouls. Overwhelming CH makes both favorites and underdogs exert less effort.","PeriodicalId":45894,"journal":{"name":"International Journal of Sport Finance","volume":" ","pages":""},"PeriodicalIF":1.0,"publicationDate":"2023-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46360268","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
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