Exploring Event-driven Opportunities of the Beijing Winter Olympics based on Event Study

DOI

10.2991/978-94-6463-042-8_94How to use a DOI?

Keywords

event-driven; event study; Olympics

Abstract

Olympic Games are mega sports event capturing global attention that serves as the core discussion to measure the economic impacts. This paper focuses on the 2022 Beijing winter Olympics by applying event study to 9 local partners of the game. According to the analysis, while no significant abnormal return can be found during the sponsorship announcement, stock prices around the opening ceremony are positively affected by high significance. Although the significant abnormal return appears during post-event periods, the validity of the market efficiency is proved somewhat invalid. Overall, these results shed light on the event-driven investment decisions.

Copyright

© 2023 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Siyu Zheng
PY  - 2022
DA  - 2022/12/29
TI  - Exploring Event-driven Opportunities of the Beijing Winter Olympics based on Event Study
BT  - Proceedings of the 2022 International Conference on mathematical statistics and economic analysis (MSEA 2022)
PB  - Atlantis Press
SP  - 653
EP  - 660
SN  - 2352-538X
UR  - https://doi.org/10.2991/978-94-6463-042-8_94
DO  - 10.2991/978-94-6463-042-8_94
ID  - Zheng2022
ER  -