Frequent News and Pure Signals - the Case of a Publicly Traded Football Club

30 Pages Posted: 7 Nov 2005

See all articles by Georg Stadtmann

Georg Stadtmann

WHU Otto Beisheim School of Management

Multiple version iconThere are 2 versions of this paper

Date Written: October 2005

Abstract

We use stock market data for Borussia Dortmund GmbH & Co. KGaA - one of the leading German football clubs - for an application of the news model. Due to the specific characteristics of the news generating process, the case of a publicly traded sport club is a very appropriate candidate for testing this model. By applying a traditional as well as a reversed news model we elaborate whether new information can explain subsequent changes in the stock price of Borussia Dortmund. We find that sport as well as corporate governance related variables are important drivers of the stock price.

Keywords: News Model, Football Industry, Betting Odds, Stock Market, Market Efficiency, Event Study

JEL Classification: G14, L83, G32

Suggested Citation

Stadtmann, Georg, Frequent News and Pure Signals - the Case of a Publicly Traded Football Club (October 2005). Available at SSRN: https://ssrn.com/abstract=839104 or http://dx.doi.org/10.2139/ssrn.839104

Georg Stadtmann (Contact Author)

WHU Otto Beisheim School of Management ( email )

Burgplatz 2
D-56179 Vallendar
Germany
+49 261 6509 273 (Phone)
+49 261 6509 279 (Fax)

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
418
Abstract Views
2,077
rank
78,375
PlumX Metrics