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International Journal of Sport Finance最新文献

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Player Pricing Mechanisms and the Daily Fantasy Sport Chance Versus Skill Debate 球员定价机制与日常梦幻体育机会与技术之争
IF 1 4区 经济学
International Journal of Sport Finance Pub Date : 2021-11-01 DOI: 10.32731/ijsf/164.112021.04
Jeremy Losak
{"title":"Player Pricing Mechanisms and the Daily Fantasy Sport Chance Versus Skill Debate","authors":"Jeremy Losak","doi":"10.32731/ijsf/164.112021.04","DOIUrl":"https://doi.org/10.32731/ijsf/164.112021.04","url":null,"abstract":"Differentiating and defining games of skill versus chance have major legal implications when classifying gambling, especially in relation to daily fantasy sports in the United States. This paper provides a theoretical discussion and introduces an empirical approach to analyzing game player pricing mechanisms. If game pricing mechanisms are fully efficient—player prices fully reflect the expected contributions from players—then that game is one of chance since there is no opportunity for skill to play a role in outcomes. This paper examines player prices from DraftKings’ daily fantasy football product. Empirical results show that there are strategies deriving from the pricing mechanism that can be incorporated by skilled participants to increase their expected performance and improve their chances of winning. This provides evidence that daily fantasy sports are skill-based—a necessary condition for skill to be a predominant factor in game outcomes as part of the legal debate.","PeriodicalId":45894,"journal":{"name":"International Journal of Sport Finance","volume":"1 1","pages":""},"PeriodicalIF":1.0,"publicationDate":"2021-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42402791","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
Domestic League Competitive Balance and UEFA Performance 国内联赛竞争平衡和欧足联的表现
IF 1 4区 经济学
International Journal of Sport Finance Pub Date : 2021-11-01 DOI: 10.32731/ijsf/164.112021.03
C. Depken, Tomislav Globan
{"title":"Domestic League Competitive Balance and UEFA Performance","authors":"C. Depken, Tomislav Globan","doi":"10.32731/ijsf/164.112021.03","DOIUrl":"https://doi.org/10.32731/ijsf/164.112021.03","url":null,"abstract":"This paper investigates the relationship between European football league competitive balance and the performance of that league’s participants in UEFA competitions. The evidence suggests that competitive balance measured using performance points fits the performance coefficients of countries participating in the Champions League and Europa League and that a reciprocal model fits the data best. The evidence suggests that marginal improvements in competitive balance can lead to increase of one-third a win for a league’s participants in the Champions League. The increased rewards for UEFA success suggest policies that promote competitive balance have both public and private benefits for clubs.","PeriodicalId":45894,"journal":{"name":"International Journal of Sport Finance","volume":" ","pages":""},"PeriodicalIF":1.0,"publicationDate":"2021-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47703206","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
Impacts of International Sports Events on the Stock Market: Evidence from the Announcement of the 18th Asian Games and 30th Southeast Asian Games 国际体育赛事对股市的影响:来自第18届亚运会和第30届东南亚运动会公告的证据
IF 1 4区 经济学
International Journal of Sport Finance Pub Date : 2021-08-01 DOI: 10.32731/ijsf/163.082021.03
D. A. Harjito, Md. Mahmudul Alam, Rani Ayu Kusuma Dewi
{"title":"Impacts of International Sports Events on the Stock Market: Evidence from the Announcement of the 18th Asian Games and 30th Southeast Asian Games","authors":"D. A. Harjito, Md. Mahmudul Alam, Rani Ayu Kusuma Dewi","doi":"10.32731/ijsf/163.082021.03","DOIUrl":"https://doi.org/10.32731/ijsf/163.082021.03","url":null,"abstract":"This paper assesses the influence of hosting major international sporting competitions on the host countries’ stock market performance before and after the announcement of such events. Specifically, this study explores whether stock markets of hosting countries experience cumulative average abnormal return (CAAR) during the aforementioned period. For the purposes of investigation, the study considers announcements of the 18th Asian Games and 30th Southeast Asian Games hosted by Indonesia and the Philippines, respectively. The LQ45 index of the Indonesia Stock Exchange (IDX) and PSEi index of the Philippines Stock Exchange (PSE) were chosen to test the significance of these events. It is found that only PSE experienced a significantly positive CAAR for the event. Findings of this study can make a significant contribution to helping national governments and investors understand the significance of sports to the economies of developing countries and how major sports events can improve stock market efficiency.","PeriodicalId":45894,"journal":{"name":"International Journal of Sport Finance","volume":" ","pages":""},"PeriodicalIF":1.0,"publicationDate":"2021-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45061375","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: 6
Baseball Home Field Advantage Without Fans in the Stands 没有球迷在场的棒球主场优势
IF 1 4区 经济学
International Journal of Sport Finance Pub Date : 2021-04-11 DOI: 10.32731/ijsf/163.082021.04
Jeremy Losak, J. Sabel
{"title":"Baseball Home Field Advantage Without Fans in the Stands","authors":"Jeremy Losak, J. Sabel","doi":"10.32731/ijsf/163.082021.04","DOIUrl":"https://doi.org/10.32731/ijsf/163.082021.04","url":null,"abstract":"Home field advantage is universally accepted across most major sports and levels of competition. However, exact causes of home field advantage have been difficult to disentangle. The COVID-19 pandemic offers a unique, natural experiment to isolate elements related to home field advantage since all 2020 regular season Major League Baseball games were played without fans. Results provide no statistically significant evidence of a difference in home field advantage between the 2019 and 2020 seasons, evidence that home crowd support is not a driver of home field advantage. There does appear to be a statistical advantage by the home team batting second in the inning. Travel fatigue seems to have no impact on home field advantage, and while home field advantage seems to increase throughout the 2020 season, we chalk that up to small sample noise. Despite lacking historical precedence, betting markets seemingly respond efficiently to the new home conditions. Keywords: home field advantage, market efficiency, baseball, ghost games","PeriodicalId":45894,"journal":{"name":"International Journal of Sport Finance","volume":" ","pages":""},"PeriodicalIF":1.0,"publicationDate":"2021-04-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43670138","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: 9
Soccer Clubs and Diminishing Returns: The Case of Paris Saint-Germain 足球俱乐部与回报递减——以巴黎圣日耳曼为例
IF 1 4区 经济学
International Journal of Sport Finance Pub Date : 2021-04-01 DOI: 10.32731/ijsf/163.082021.02
Vincent Hogan, Patrick Massey
{"title":"Soccer Clubs and Diminishing Returns: The Case of Paris Saint-Germain","authors":"Vincent Hogan, Patrick Massey","doi":"10.32731/ijsf/163.082021.02","DOIUrl":"https://doi.org/10.32731/ijsf/163.082021.02","url":null,"abstract":"Paris Saint-Germain (PSG), one of France’s top soccer clubs, was bought by Qatar Sports Investments (QSI) in 2011. Since then, the club’s expenditure has risen precipitously, as have its victories. In this paper, we ask whether this represents value for money. We find that the efficiency of PSG did not deteriorate following the takeover. However, while PSG operated close to the production frontier in terms of converting resources to points, it scored vastly more points than was necessary to win the league. We estimate that PSG spent €140m more than was necessary to win the French league in 2016/2017. Since 2011, PSG is estimated to have overspent by up to €600m. This expenditure could be thought of as being merely the price of creditable performance at a European level, but we show that it has brought less success than would be expected.","PeriodicalId":45894,"journal":{"name":"International Journal of Sport Finance","volume":" ","pages":""},"PeriodicalIF":1.0,"publicationDate":"2021-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44676418","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: 6
Fan Involvement and Unusual Investor Behavior: Evidence from a Football Fan Bond 球迷参与与投资者异常行为——来自球迷债券的证据
IF 1 4区 经济学
International Journal of Sport Finance Pub Date : 2021-02-01 DOI: 10.32731/IJSF/161.022020.02
Daniel Weimar, Alexander Fox
{"title":"Fan Involvement and Unusual Investor Behavior: Evidence from a Football Fan Bond","authors":"Daniel Weimar, Alexander Fox","doi":"10.32731/IJSF/161.022020.02","DOIUrl":"https://doi.org/10.32731/IJSF/161.022020.02","url":null,"abstract":"Sport clubs offer marginal substitutable services and thus achieve strong emotional ties with their customers and fans. If sport clubs need financial support from their fans via a bond, the behavior of these investors might differ from that of less tied-in bond investors. The degree of fan involvement might be a decisive factor. Therefore, we use survey data obtained during a football club bond issue. We find correlations suggesting that fan bond investors with a higher fan involvement have a higher probability of investing as well as a greater tendency toward unusual investment behavior. The results are of relevance to sport managers when planning the issue of a bond.","PeriodicalId":45894,"journal":{"name":"International Journal of Sport Finance","volume":"16 1","pages":"16-32"},"PeriodicalIF":1.0,"publicationDate":"2021-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46744133","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: 4
Nationality-Based Prejudice in Sports: Fan Demand for Foreign Athletes in the Czech 体育运动中的民族偏见:捷克球迷对外国运动员的需求
IF 1 4区 经济学
International Journal of Sport Finance Pub Date : 2021-02-01 DOI: 10.32731/IJSF/161.022020.01
Vojtěch Kotrba
{"title":"Nationality-Based Prejudice in Sports: Fan Demand for Foreign Athletes in the Czech","authors":"Vojtěch Kotrba","doi":"10.32731/IJSF/161.022020.01","DOIUrl":"https://doi.org/10.32731/IJSF/161.022020.01","url":null,"abstract":"This paper aims to answer the question of whether fans discriminate against foreign athletes. It uses data from the fantasy sports environment. The sample consists of 11 rounds in the football competition in Czechia during the 2015–2016 season. A total of 8,036 people participated in the game, and they completed a total of 53,951 squads. The final dataset consists of 3,741 observations of a specific footballer in a single round. The results show that Czech fantasy sports users prefer domestic players. The influence of the players’ origin varies depending on the region they are from. The results show that Asian and Eastern European countries, namely Croatia, Serbia, and Slovakia, present a negative influence. On the other hand, Czechs prefer players from South America and Russia. In the case of African and Western European countries, the influence is insignificant in the models. Performance, however, influences the demand for athletes the most.","PeriodicalId":45894,"journal":{"name":"International Journal of Sport Finance","volume":"16 1","pages":"3-15"},"PeriodicalIF":1.0,"publicationDate":"2021-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44245620","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: 3
Corruption and Sponsor Value: An Event Study Analysis 腐败与赞助商价值:一个事件研究分析
IF 1 4区 经济学
International Journal of Sport Finance Pub Date : 2021-02-01 DOI: 10.32731/IJSF/161.022020.04
P. Chakravarti, Felix Boronczyk
{"title":"Corruption and Sponsor Value: An Event Study Analysis","authors":"P. Chakravarti, Felix Boronczyk","doi":"10.32731/IJSF/161.022020.04","DOIUrl":"https://doi.org/10.32731/IJSF/161.022020.04","url":null,"abstract":"This study quantifies the negative effects of corruption on sponsors of the Indian Premier League (IPL) and presents unbiased sponsor-linked outcomes as its results. The event study methodology was used for the purpose of measuring the reaction of the Indian shareholders to the unexpected event that was the decision of the Supreme Court of India to ban two teams and several officials from cricketing affairs for life in response to the discovery of corruption. The results of this study show there is an immediate loss in firm value for sponsors that are linked to events and teams proved to be corrupt. The negative effects are larger for firms that are event sponsors, as compared to team sponsors. Some sponsors of non-corrupt teams also suffered damage due to the announcement of the Court; however, this effect was short-lived and wore off relatively quickly.","PeriodicalId":45894,"journal":{"name":"International Journal of Sport Finance","volume":"16 1","pages":"44-56"},"PeriodicalIF":1.0,"publicationDate":"2021-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41388307","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
Uncertainty of Outcome and Attendance: Evidence from Russian Football 结果和出席的不确定性:来自俄罗斯足球的证据
IF 1 4区 经济学
International Journal of Sport Finance Pub Date : 2021-02-01 DOI: 10.32731/IJSF/161.022021.03
Parshakov Petr, A. Marina, Байдина Ксения Олеговна
{"title":"Uncertainty of Outcome and Attendance: Evidence from Russian Football","authors":"Parshakov Petr, A. Marina, Байдина Ксения Олеговна","doi":"10.32731/IJSF/161.022021.03","DOIUrl":"https://doi.org/10.32731/IJSF/161.022021.03","url":null,"abstract":"","PeriodicalId":45894,"journal":{"name":"International Journal of Sport Finance","volume":"16 1","pages":"33-43"},"PeriodicalIF":1.0,"publicationDate":"2021-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48717977","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
Are Sports Betting Markets Semi-Strong Efficient? Evidence From the COVID-19 Pandemic 体育博彩市场是半强有效的吗？新冠肺炎大流行的证据
IF 1 4区 经济学
International Journal of Sport Finance Pub Date : 2020-08-18 DOI: 10.5167/UZH-189441
P. Meier, Raphael Flepp, E. Franck
{"title":"Are Sports Betting Markets Semi-Strong Efficient? Evidence From the COVID-19 Pandemic","authors":"P. Meier, Raphael Flepp, E. Franck","doi":"10.5167/UZH-189441","DOIUrl":"https://doi.org/10.5167/UZH-189441","url":null,"abstract":"This paper examines whether sports betting markets are semi-strong form efficient—i.e., whether new information is rapidly and completely incorporated into betting prices. We use news on ghost games in the top European football leagues due to the COVID-19 pandemic as a clean arrival of new public information. Because spectators are absent during ghost games, the home advantage is reduced, and we test whether this information is fully reflected in betting prices. Our results show that bookmakers and betting exchanges systematically overestimated a home team’s winning probability during the first period of the ghost games, which suggests that betting markets are, at least temporally, not semi-strong form efficient. Examining different leagues, we find that our main results are driven by the German Bundesliga, which was the first league to resume operations. We exploit a betting strategy that yields a positive net payoff over more than one month.","PeriodicalId":45894,"journal":{"name":"International Journal of Sport Finance","volume":"1 1","pages":""},"PeriodicalIF":1.0,"publicationDate":"2020-08-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44604115","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: 3
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