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The UK Stock Market Almanac 2016: Seasonality analysis and studies of market anomalies to give you an edge in the year ahead by Stephen Eckett

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4-2

In commemoration this week of the 50th anniversary of England beating Germany 4-2 in the 1966 World Cup final, here is a quick overview of academic papers on the relationship between football and the stock market.

The main focus of research in this area is on whether the results of games have an effect on the share prices of quoted football clubs. For academics, the interest here is that football results provide an easy and quantifiable proxy for mood, and much of this research therefore comes within the ambit of behavioural finance.

Zuber et al (2005)1 found that the price behaviour of publicly-quoted English Premier League teams was insensitive to game results; they concluded that a new type of investor gained value from mere share ownership. ...

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