The Euphoria Effect of UEFA Champion League Final on Asian Stock Market
Football is the most popular sport in the world. It can make personal attachment to the supporters. One of the most wanted football events is UEFA Champion League Final. It can create euphoria in the supporters. The euphoria will affect the stock market behaviour. This research examines whether inve...
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| Format: | Article |
| Language: | English |
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Canadian Center of Science and Education
2011
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| Online Access: | http://ir.unimas.my/id/eprint/9689/ http://ir.unimas.my/id/eprint/9689/1/The%20Euphoria%20Effect%20of%20UEFA%20Champion%20League%20Final%20on%20Asian%20stock%20market%28abstract%29.pdf |
| _version_ | 1848836624038756352 |
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| author | Brahmana, Rayenda Khresna |
| author_facet | Brahmana, Rayenda Khresna |
| author_sort | Brahmana, Rayenda Khresna |
| building | UNIMAS Institutional Repository |
| collection | Online Access |
| description | Football is the most popular sport in the world. It can make personal attachment to the supporters. One of the most wanted football events is UEFA Champion League Final. It can create euphoria in the supporters. The euphoria will affect the stock market behaviour. This research examines whether investor’s performance affected by the football euphoria. This research is important in term of market efficiency, behavioural finance, and portfolio strategy.
This paper examines the UEFA Champion League Final affects on the World index, EAFE index, Pacific index, and 14 Asian stock markets. This paper wants to figure the seasonality of the euphoria during the UEFA Champion League Final.
This study conducts non parametric test such as: Holt Winters, Kruskal-Wallis, and Wilcoxon Signed test. The period of this study is from 1999 up to 2008.The results showed that there are euphoria effects of UEFA Champion League Final on the stock markets. Further, the results also showed that there is seasonality in stock markets caused by the euphoria of UEFA Champion League Final. Future research can employ the same issue in other regions. Another research should be conducted by finding the effect in shorter period or longer period. |
| first_indexed | 2025-11-15T06:26:43Z |
| format | Article |
| id | unimas-9689 |
| institution | Universiti Malaysia Sarawak |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-15T06:26:43Z |
| publishDate | 2011 |
| publisher | Canadian Center of Science and Education |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | unimas-96892015-11-11T03:08:11Z http://ir.unimas.my/id/eprint/9689/ The Euphoria Effect of UEFA Champion League Final on Asian Stock Market Brahmana, Rayenda Khresna HC Economic History and Conditions Football is the most popular sport in the world. It can make personal attachment to the supporters. One of the most wanted football events is UEFA Champion League Final. It can create euphoria in the supporters. The euphoria will affect the stock market behaviour. This research examines whether investor’s performance affected by the football euphoria. This research is important in term of market efficiency, behavioural finance, and portfolio strategy. This paper examines the UEFA Champion League Final affects on the World index, EAFE index, Pacific index, and 14 Asian stock markets. This paper wants to figure the seasonality of the euphoria during the UEFA Champion League Final. This study conducts non parametric test such as: Holt Winters, Kruskal-Wallis, and Wilcoxon Signed test. The period of this study is from 1999 up to 2008.The results showed that there are euphoria effects of UEFA Champion League Final on the stock markets. Further, the results also showed that there is seasonality in stock markets caused by the euphoria of UEFA Champion League Final. Future research can employ the same issue in other regions. Another research should be conducted by finding the effect in shorter period or longer period. Canadian Center of Science and Education 2011 Article NonPeerReviewed text en http://ir.unimas.my/id/eprint/9689/1/The%20Euphoria%20Effect%20of%20UEFA%20Champion%20League%20Final%20on%20Asian%20stock%20market%28abstract%29.pdf Brahmana, Rayenda Khresna (2011) The Euphoria Effect of UEFA Champion League Final on Asian Stock Market. International Journal of Economics and Finance, 3 (1). pp. 178-188. ISSN 1916-9728 http://ccsenet.org/journal/index.php/ijef/article/view/5581 http://dx.doi.org/10.5539/ijef.v3n1p178 |
| spellingShingle | HC Economic History and Conditions Brahmana, Rayenda Khresna The Euphoria Effect of UEFA Champion League Final on Asian Stock Market |
| title | The Euphoria Effect of UEFA Champion League Final on Asian Stock Market |
| title_full | The Euphoria Effect of UEFA Champion League Final on Asian Stock Market |
| title_fullStr | The Euphoria Effect of UEFA Champion League Final on Asian Stock Market |
| title_full_unstemmed | The Euphoria Effect of UEFA Champion League Final on Asian Stock Market |
| title_short | The Euphoria Effect of UEFA Champion League Final on Asian Stock Market |
| title_sort | euphoria effect of uefa champion league final on asian stock market |
| topic | HC Economic History and Conditions |
| url | http://ir.unimas.my/id/eprint/9689/ http://ir.unimas.my/id/eprint/9689/ http://ir.unimas.my/id/eprint/9689/ http://ir.unimas.my/id/eprint/9689/1/The%20Euphoria%20Effect%20of%20UEFA%20Champion%20League%20Final%20on%20Asian%20stock%20market%28abstract%29.pdf |