Investor Reactions to a Change in Coach in European Football

D 2014

Investor Reactions to a Change in Coach in European Football

ZURECK, Alexander, Svend REUSE, Martin SVOBODA and Eric FRÉRE

Basic information

Original name

Investor Reactions to a Change in Coach in European Football

Authors

ZURECK, Alexander (276 Germany, guarantor, belonging to the institution), Svend REUSE (276 Germany, belonging to the institution), Martin SVOBODA (203 Czech Republic, belonging to the institution) and Eric FRÉRE (276 Germany, belonging to the institution)

Edition

1 st. Ostrava, 7th International Scientific Conference Managing and Modelling of Financial Risks, p. 914-922, 9 pp. 2014

Publisher

VŠB- Technical University of Ostrava, Czech Republic

Other information

Language

English

Type of outcome

Stať ve sborníku

Field of Study

50200 5.2 Economics and Business

Country of publisher

Czech Republic

Confidentiality degree

není předmětem státního či obchodního tajemství

Publication form

printed version "print"

RIV identification code

RIV/00216224:14560/14:00076970

Organization unit

Faculty of Economics and Administration

ISBN

978-80-248-3631-7

UT WoS

000350605800116

Keywords in English

Change in Coach; Information Efficiency; STOXX Europe Football Index; Trade Volume

Abstract

V originále

The appointment of a new coach is often a turning point in the development of a football club’s game. However, apart from the development of its game, the change affects the club’s economic prospects as well. For investors, the coach is the club’s manager who is responsible for its sporting and financial performance. Other studies have intensively investigated the impact of the results of specific games on share prices, see e.g. Ashton et al. (2011). While there are several investigations into game results, the relationship between the change in a club’s coach and the reaction of share prices and especially the related trade volume has rarely been probed. This paper investigates the statistical significance of the daily trade volume of a listed European football club following a change in its coach. The findings show that the appointment of a new coach has an immediate impact on investors’ interests through a change in the trading volume.

Links

MUNI/A/0786/2013, interní kód MU

Name: Analýza a predikce vývoje cen finančních a investičních nástrojů

Investor: Masaryk University, Category A

Citovat

ZURECK, Alexander, Svend REUSE, Martin SVOBODA and Eric FRÉRE. Investor Reactions to a Change in Coach in European Football. In Ing. Miroslav Čulík, Ph.D. 7th International Scientific Conference Managing and Modelling of Financial Risks. 1 st. Ostrava: VŠB- Technical University of Ostrava, Czech Republic, 2014, p. 914-922. ISBN 978-80-248-3631-7.

@inproceedings{1203686,
   author = {Zureck, Alexander and Reuse, Svend and Svoboda, Martin and Frére, Eric},
   address = {Ostrava},
   booktitle = {7th International Scientific Conference Managing and Modelling of Financial Risks},
   edition = {1 st},
   editor = {Ing. Miroslav Čulík, Ph.D.},
   keywords = {Change in Coach; Information Efficiency; STOXX Europe Football Index; Trade Volume},
   howpublished = {tištěná verze "print"},
   language = {eng},
   location = {Ostrava},
   isbn = {978-80-248-3631-7},
   pages = {914-922},
   publisher = {VŠB- Technical University of Ostrava, Czech Republic},
   title = {Investor Reactions to a Change in Coach in European Football},
   year = {2014}
}

TY  - JOUR
ID  - 1203686
AU  - Zureck, Alexander - Reuse, Svend - Svoboda, Martin - Frére, Eric
PY  - 2014
TI  - Investor Reactions to a Change in Coach in European Football
PB  - VŠB- Technical University of Ostrava, Czech Republic
CY  - Ostrava
SN  - 9788024836317
KW  - Change in Coach
KW  - Information Efficiency
KW  - STOXX Europe Football Index
KW  - Trade Volume
N2  - The appointment of a new coach is often a turning point in the development of a football club’s game. However, apart from the development of its game, the change affects the club’s economic prospects as well. For investors, the coach is the club’s manager who is responsible for its sporting and financial performance. Other studies have intensively investigated the impact of the results of specific games on share prices, see e.g. Ashton et al. (2011). While there are several investigations into game results, the relationship between the change in a club’s coach and the reaction of share prices and especially the related trade volume has rarely been probed. This paper investigates the statistical significance of the daily trade volume of a listed European football club following a change in its coach. The findings show that the appointment of a new coach has an immediate impact on investors’ interests through a change in the trading volume.
ER  -

ZURECK, Alexander, Svend REUSE, Martin SVOBODA and Eric FRÉRE. Investor Reactions to a Change in Coach in European Football. In Ing. Miroslav Čulík, Ph.D. \textit{7th International Scientific Conference Managing and Modelling of Financial Risks}. 1 st. Ostrava: VŠB- Technical University of Ostrava, Czech Republic, 2014, p.~914-922. ISBN~978-80-248-3631-7.

Detailed Information on Publication Record