AN EXAMINATION OF THE IMPACT OF INDIA'S PERFORMANCE IN ONE-DAY CRICKET INTERNATIONALS ON THE INDIAN STOCK MARKET

Vinod Mishra and Russell Smyth

No 09/08, Monash Economics Working Papers from Monash University, Department of Economics

Abstract: This study examines the impact of the Indian cricket team's performance in one day international cricket matches on returns on the Indian stock market. The main conclusion of the study is that there exists an asymmetric relationship between the performance of the Indian cricket team and stock returns on the Indian stock market. While a win by the Indian cricket team has no statistically significant upward impact on stock market returns, a loss generates a significant downward movement in the stock market. When Sachin Tendulker, India's most popular cricketer, plays the size of the downward movement in returns is larger.

Keywords: Cricket; India; Stock Market; Stochastic Dominance; Investor Psychology. (search for similar items in EconPapers)
JEL-codes: D87 G14 L83 (search for similar items in EconPapers)
Pages: 37 pages
Date: 2008-04-03
New Economics Papers: this item is included in nep-cwa and nep-spo
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Journal Article: An examination of the impact of India's performance in one-day cricket internationals on the Indian stock market (2010)
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