This thesis investigates whether sports outcomes for New York City based teams affect the daily returns, volatility or trading volume of major stock indexes in the United States. I research whether events that affect local mood in a major financial center can influence national stock indexes by swaying the sentiment of workers in the financial sector. By performing an event study I found evidence that returns are abnormally high following championships won by New York City professional sports teams. Returns are abnormally low and volume is abnormally high following elimination from a championship round.
"The Effect of New York City Sports Outcomes on the Stock Market,"
Undergraduate Economic Review: Vol. 12
, Article 8.
Available at: http://digitalcommons.iwu.edu/uer/vol12/iss1/8