Connectedness Among Fan Tokens and Stocks of Football Clubs

dc.authorid Demir, Ender/0000-0003-4034-269X
dc.authorwosid Demir, Ender/J-8808-2017
dc.contributor.author Ersan, Oguz
dc.contributor.author Ersan, Oğuz
dc.contributor.author Demir, Ender
dc.contributor.author Assaf, Ata
dc.contributor.other International Trade and Finance
dc.date.accessioned 2023-10-19T15:11:40Z
dc.date.available 2023-10-19T15:11:40Z
dc.date.issued 2022
dc.department-temp [Ersan, Oguz] Kadir Has Univ, Fac Econ Adm & Social Sci, Dept Int Trade & Finance, Istanbul, Turkey; [Demir, Ender] Reykjavik Univ, Dept Business Adm Sch Social Sci, Reykjavik, Iceland; [Assaf, Ata] Management Univ Balamand, Fac Business, PO Box 100, Tripoli, Lebanon; [Assaf, Ata] Cyprus Int Inst Management CIIM Cyprus, PO Box 20378, CY-2151 Nicosia, Cyprus; [Demir, Ender] Tomas Bata Univ Zlin, Fac Management & Econ, Zlin, Czech Republic en_US
dc.description.abstract This paper examines the dynamic connectedness among the fan tokens and their corresponding stocks using the TVP-VAR approach. We use daily data from December 11, 2020, to January 31, 2022, for the Juventus FC, AS Roma, Galatasaray, and Trabzonspor tokens and stocks. Our results indicate that shocks transmitted to any token are larger than the ones to the stocks, with the tokens being the net transmitters of shocks to both the tokens and stocks. Then, our results indicate that the two asset classes are considered independent of each other, with the total connectedness decreasing over time, and indicating that less than 10% of the contributions in any token (stock) is from the stocks (remaining stocks). This implies that the idiosyncratic contri-butions to the variations in the utilized group of assets are considerably low when compared to the system contributions. Finally, we provide some implications for investment and portfolio management. en_US
dc.identifier.citationcount 18
dc.identifier.doi 10.1016/j.ribaf.2022.101780 en_US
dc.identifier.issn 0275-5319
dc.identifier.issn 1878-3384
dc.identifier.scopus 2-s2.0-85140474152 en_US
dc.identifier.scopusquality Q1
dc.identifier.uri https://doi.org/10.1016/j.ribaf.2022.101780
dc.identifier.uri https://hdl.handle.net/20.500.12469/5161
dc.identifier.volume 63 en_US
dc.identifier.wos WOS:000879974000004 en_US
dc.identifier.wosquality Q1
dc.khas 20231019-WoS en_US
dc.language.iso en en_US
dc.publisher Elsevier en_US
dc.relation.ispartof Research in International Business and Finance en_US
dc.relation.publicationcategory Makale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı en_US
dc.rights info:eu-repo/semantics/closedAccess en_US
dc.scopus.citedbyCount 32
dc.subject Fan tokens en_US
dc.subject Football clubs en_US
dc.subject Connectedness en_US
dc.subject TVP-VAR en_US
dc.subject Spillover en_US
dc.subject Asset returns en_US
dc.title Connectedness Among Fan Tokens and Stocks of Football Clubs en_US
dc.type Article en_US
dc.wos.citedbyCount 29
dspace.entity.type Publication
relation.isAuthorOfPublication 668cc704-cc26-4a39-bb0f-5db2099bf1d3
relation.isAuthorOfPublication.latestForDiscovery 668cc704-cc26-4a39-bb0f-5db2099bf1d3
relation.isOrgUnitOfPublication 16202dfd-a149-4884-98fb-ada5f8c12918
relation.isOrgUnitOfPublication.latestForDiscovery 16202dfd-a149-4884-98fb-ada5f8c12918

Files

Original bundle

Now showing 1 - 1 of 1
No Thumbnail Available
Name:
5161.pdf
Size:
2.77 MB
Format:
Adobe Portable Document Format
Description:
Tam Metin / Full Text