Earticle

초록

영어

This paper examines the short and long term effects of the Summer Olympics, Winter Olympics, and the World Cup on the economy of the hosting country. We find that the immediate effect of such an announcement on equity market returns is statistically insignificant, with the construction industry being the only exception. We further show that mega sports events generally fail to provide significant positive long-term stock market performance to the hosting country. We do however find that the Summer Olympic game hosting nations generate significant positive economic performance up to 3 years prior to hosting the event, while this positive economic performance disappear after 1 year of the hosting the Summer Olympic game. Our results suggest that unlike the common claims of mega sports organizers, it appears that there are no significant long-run economic gains from hosting any of the three mega sporting events.

목차

Abstract
 1. Introduction
 2. Discussion of Short and Long Term Effects of Event Hosting
 3. Data and Sample Construction
  3.1 Data
  3.2 Sample Description
 4. Short Run Effect of Mega Sporting Events
 5. The Long Run Effect of Mega Sporting Events
 6. Conclusion
 References
 Table

키워드

저자

• Stephen P. Ferris [ Trulaske College of Business University of Missouri ]
• Sulgi Koo [ Korea Asset Pricing ]
• Kwangwoo Park [ Korea Advanced Institute of Science and Technology (KAIST) ] Corresponding Author
• David T. Yi [ Xavier University ]

참고문헌

발행기관

간행물

표지보기 관심저널 등록

• 간행물명

  한국재무학회 학술대회

• 간기

  부정기

• 수록기간

  2006~2024

• 십진분류

  KDC 325 DDC 330