Market efficiency: Correlation between returns and Google searches before a change in coach

Varování

Publikace nespadá pod Filozofickou fakultu, ale pod Ekonomicko-správní fakultu. Oficiální stránka publikace je na webu muni.cz.
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SVOBODA Martin ZURECK Alexander

Rok publikování 2016
Druh Článek ve sborníku
Konference 8th International Scientific Conference Managing and Modelling of Financial Risks
Fakulta / Pracoviště MU

Ekonomicko-správní fakulta

Citace
Obor Řízení, správa a administrativa
Klíčová slova Behavioral Finance; Market Efficiency; Google Trends; Information; Football
Popis This article examines the relationship between returns and searches on Google, which has become one of the most important information sources for investors. This study focuses on investors of listed European football clubs and their investment behaviors, especially before a coach is replaced. For measuring the change in searches, Google Trends is used. The relevant search term is the first and the last name of a coach and the study period covers 80 days. In some cases, there is a weak correlation between returns and changes in search queries. The change in coach and the country’s football club do not seem to be explanatory aspects for the correlation.
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