Soccer, stock returns and fanaticism: Evidence from Turkey |
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| Authors: | M. Hakan Berument Nildag Basak Ceylan Gulin Ogut-Eker |
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| Affiliation: | aDepartment of Economics, Bilkent University, Ankara, Turkey;bDepartment of Management, Atilim University, Ankara, Turkey;cDepartment of Turkish Language and Literature, Hacettepe University, Ankara, Turkey |
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| Abstract: | This paper assesses the effect of three major soccer teams’ wins on the returns of the Istanbul Stock Exchange (ISE). We argue that the effect of soccer wins on ISE returns increases with the fanaticism of the teams’ supporters. |
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