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題名 Sports Sentiment and Return Differentials of Cross-listed Firms: Evidence from Chinese A- and H-shares
作者 周冠男
Chou, Robin K.;Wu, Qinqin;Lu, Jing
貢獻者 財管系
關鍵詞 cross-listed shares; sports sentiment; return differentials
日期 2023-08
上傳時間 2024-04-11
摘要 We explore the relationship between the Chinese Football Association Super League (CSL) game outcomes and the returns differentials of Chinese cross-listed A- and H-shares. We find that a team’s win leads to a significant rise in the next-day return differentials for locally headquartered firms. Furthermore, the win effects are more pronounced for critical games, games with high attention, and firms with low institutional investor shareholding. In contrast, the loss effects are more significant if a CSL team loses by a margin of more than 2.5 points. Additionally, sports sentiment mainly affects high-liquidity sectors because their silent characteristic tends to be compatible with sports sentiment.
關聯 International Journal of Sport Finance, Vol.18, No.3, pp.121-132
資料類型 article
DOI https://doi.org/10.32731/IJSF/183.082023.02
dc.contributor 財管系
dc.creator (作者) 周冠男
dc.creator (作者) Chou, Robin K.;Wu, Qinqin;Lu, Jing
dc.date (日期) 2023-08
dc.date.accessioned 2024-04-11-
dc.date.available 2024-04-11-
dc.date.issued (上傳時間) 2024-04-11-
dc.identifier.uri (URI) https://nccur.lib.nccu.edu.tw/handle/140.119/150732-
dc.description.abstract (摘要) We explore the relationship between the Chinese Football Association Super League (CSL) game outcomes and the returns differentials of Chinese cross-listed A- and H-shares. We find that a team’s win leads to a significant rise in the next-day return differentials for locally headquartered firms. Furthermore, the win effects are more pronounced for critical games, games with high attention, and firms with low institutional investor shareholding. In contrast, the loss effects are more significant if a CSL team loses by a margin of more than 2.5 points. Additionally, sports sentiment mainly affects high-liquidity sectors because their silent characteristic tends to be compatible with sports sentiment.
dc.format.extent 154 bytes-
dc.format.mimetype text/html-
dc.relation (關聯) International Journal of Sport Finance, Vol.18, No.3, pp.121-132
dc.subject (關鍵詞) cross-listed shares; sports sentiment; return differentials
dc.title (題名) Sports Sentiment and Return Differentials of Cross-listed Firms: Evidence from Chinese A- and H-shares
dc.type (資料類型) article
dc.identifier.doi (DOI) 10.32731/IJSF/183.082023.02
dc.doi.uri (DOI) https://doi.org/10.32731/IJSF/183.082023.02