The news model of asset price determination: An empirical examination of the Danish football club Brøndby IF

Casper W. Jørgensen, Mark R. Moritzen and Georg Stadtmann

No 313, Discussion Papers from European University Viadrina Frankfurt (Oder), Department of Business Administration and Economics

Abstract: According to the news model of asset price determination, only the unexpected component of an information should drive the stock price. We use the Danish publicly listed football club Brøndby IF to analyze how match outcome impacts the stock price. To disentangle gross news from net news, betting odd information is used to control for the expected match outcome.

Keywords: news model; football industry; betting odds; stock market; market efficiency; event study (search for similar items in EconPapers)
JEL-codes: G14 G32 L83 (search for similar items in EconPapers)
Date: 2012
New Economics Papers: this item is included in nep-spo
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
https://www.econstor.eu/bitstream/10419/55512/1/685571548.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:zbw:euvwdp:313

Access Statistics for this paper

More papers in Discussion Papers from European University Viadrina Frankfurt (Oder), Department of Business Administration and Economics Contact information at EDIRC.
Bibliographic data for series maintained by ZBW - Leibniz Information Centre for Economics (econstor@zbw-workspace.eu).