1 Department of Business and Economics, Faculty of Business and Social Sciences, SDU2 SDU3 Department of Business and Economics, Faculty of Business and Social Sciences, SDU
According to the news model of asset price determination, only the unexpected component of an information should drive the stock price. We use the Danish publicly listed football club Brøndby IF to analyse how match outcome impacts the stock price. To disentangle gross news from net news, betting odd information is used to control for the expected match outcome.
Applied Economics Letters, 2012, Vol 19, p. 1715-1718