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What Effect Do Rumors Have On Publicly Traded Sports Teams?, Paul Karasaridis
What Effect Do Rumors Have On Publicly Traded Sports Teams?, Paul Karasaridis
Business/Business Administration
This paper explores the effects of rumors on stock prices. It targets publicly traded soccer teams to see what impact rumors of players transferring, in and out of teams, has on their respective stock returns. A total of 56 rumors are being used in the analysis. An event study is conducted around the dates of each transfer rumor in order to examine what types of abnormalities exist in the returns of the stock. To further investigate this study, a cross sectional analysis is being performed to see whether player reputation, player status, and future validity of the rumors had more …