Detailed Information on Publication Record

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.

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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
Original language	English
Type of outcome	Proceedings paper
Field of Study	50200 5.2 Economics and Business
Country of publisher	Czech Republic
Confidentiality degree	is not subject to a state or trade secret
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
Tags	International impact, Reviewed
Changed by	Changed by: Mgr. Daniela Marcollová, učo 111148. Changed: 27/4/2015 10:05.

Abstract
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.

Abstract

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
MUNI/A/0786/2013, interní kód MU	Investor: Masaryk University, Category A