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STOCK MARKET REACTION TO NATIONAL SPORTING SUCCESS: CASE OF BORSA ISTANBUL

Journal Name:

  • Pamukkale Spor Bilimleri Dergisi

Publication Year:

  • 2013

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Keywords (Original Language):

Author NameUniversity of AuthorFaculty of Author
Abstract (2. Language): 
The aim of this study is to investigate whether the sporting success of Turkish national football team affects Borsa Istanbul (BIST) stock index returns. The link between the results of football matches and stock returns has been investigated by many researchers, and the findings of some of these studies revealed a relationship between them. In this study, the effects of Turkish national football team's match results on BIST-100 index returns are investigated by using GARCH analysis. The analysis covers all the football matches played by Turkish national football team between 04.01.1988-25.05.2011. According to the findings, the wins of the national team are not affecting the BIST-100 index return, whereas the failures (losses and draws) have a negative effect.
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Abstract (Original Language): 
Bu çalışmanın amacı, Türk milli futbol takımının sportif başarısının Borsa İstanbul (BIST) -100 endeksi getirisi üzerinde etkili olup olmadığını ortaya koymaktır. Futbol maçlarının sonuçları ve hisse senedi getirilen arasındaki ilişki birçok kişi tarafından araştırılmış olup, bu çalışmalardan bazılarında ikisi arasında istatistiksel bir ilişki olduğu saptanmıştır. Bu makalede GARCH analizi kullanılarak Türk milli futbol takımı maç sonuçlarının BIST-100 endeks getirisi üzerindeki etkileri araştırılmıştır. Analiz 04.01.1988-25.05.2011 tarihleri arasında oynanılan tüm futbol maçlarını kapsamaktadır. Bulgulara gore, Türk milli futbol takımının kazandığı maçlar endeks getirisini etkilemezken, kaybettiği veya berabere kaldığı maçlar ise negatif bir etkiye sahiptir.
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