Match-fixing in Turkish Football Super League: Fenerbahçe Case
Turkish football was hit hard by a sudden match-fixing scandal of Fenerbahçe during the 2010–2011 season with a 19.3% slump on a day in the Istanbul Stock Exchange (currently known as Borsa Istanbul). This paper aims to asses the impact of news about the event of match-fixing that is claimed to h...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Isarder
2018-12-01
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| Series: | İşletme Araştırmaları Dergisi |
| Subjects: | |
| Online Access: | https://www.isarder.org/2018/vol.10_issue.4_article32_full_text.pdf |
| Summary: | Turkish football was hit hard by a sudden match-fixing scandal of Fenerbahçe
during the 2010–2011 season with a 19.3% slump on a day in the Istanbul Stock
Exchange (currently known as Borsa Istanbul). This paper aims to asses the impact of
news about the event of match-fixing that is claimed to have taken place in Fenerbahçe
on its stock return volatility. To do this, all publicly available match-fixing
announcements are collected and classified into five different news types to capture
their individual effects on the volatility of Fenerbahçe’s stock return by using GARCH
model. Our results show that any positive or negative announcement released from
Turkish court, Turkish Football Federation, the UEFA and/or the Court of Arbitration
for Sport about Fenerbahçe and also any news about club executives allegedly involved
in the event of match-fixing and the match results have significant positive effects on
the Fenerbahçe’s stock return volatility. |
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| ISSN: | 1309-0712 1309-0712 |