Analyzing the Impact of Stock Market Fluctuations on Financial Strategies in the Sports Industry

• Jiao Meng ^[1]
  1. [1] Bank of Guangzhou, Nanjing 210000, Jiangsu Province, China.
• Localización: Revista de psicología del deporte, ISSN-e 1988-5636, ISSN 1132-239X, Vol. 33, Nº 2, 2024, págs. 338-352
• Idioma: inglés
• Enlaces
  • Texto completo
• Resumen

  • This paper explores the influence of stock market fluctuations on the financial strategies within the sports industry from 1998: Q1 to 2018: Q1. Utilizing advanced econometric techniques such as the Johansen co-integration test, vector error correction model, and Granger causality test, we analyze the interplay between stock market performance and financial decision-making in sports organizations. Our empirical research reveals that variations in stock prices can significantly impact the financial management practices of sports enterprises, particularly in terms of investment, funding, and sponsorship activities. The results indicate a long-term relationship between stock market behavior and financial strategy adaptations in the sports sector, with stock price volatility influencing the availability and demand for monetary resources within these organizations. The study highlights the need for sports financial managers to consider stock market trends as a critical factor in planning and forecasting, suggesting that fluctuations in stock prices are a significant indicator of future economic conditions that could affect sports-related financial decisions. This awareness is crucial not only for anticipating changes in operational funding and sponsorship engagements but also for strategic planning to safeguard the financial health of sports organizations against economic downturns.

• Referencias bibliográficas
  • Ajaz, T., Nain, M. Z., Kamaiah, B., & Sharma, N. K. (2017). Stock prices, exchange rate and interest rate: evidence beyond symmetry. Journal...
  • Altemani, A. (2015). Accuracy of intraoperative consultation in the evaluation of salivary gland tumors. Jornal Brasileiro de Patologia e...
  • Antonakakis, N., Gupta, R., & Tiwari, A. K. (2017). Has the correlation of inflation and stock prices changed in the United States over...
  • Ashworth, J., Barlow, D., & Evans, L. (2014). Sectoral Money Demand Behaviour and the Welfare Cost of Inflation in the UK. The Manchester...
  • Baharumshah, A. Z. (2004). Stock prices and long-run demand for money: Evidence from Malaysia. International Economic Journal, 18(3), 389-407....
  • Baharumshah, A. Z., Mohd, S. H., & Masih, A. M. M. (2009). The stability of money demand in China: Evidence from the ARDL model. Economic...
  • Baharumshah, A. Z., & Soon, S.-V. (2015). Demand for broad money in Singapore: does wealth matter? Journal of Economics and Finance, 39,...
  • Bhatti, M. A., & Alkhozaim, S. M. (2023). Effects of Perceived Values (Personal, Social, Economic) and Destination Attributes on Tourist...
  • Bissoondeeal, R. K., Jones, B. E., Binner, J.M., & Mullineux, A. W. (2010). Household‐Sector Money Demand for the UK. The Manchester School,...
  • Carpenter, S. B., & Lange, J. (2003). Money demand and equity markets. Board of Governors of the Federal Reserve System (US). Finance...
  • Caruso, M. (2001). Stock prices and money velocity: A multi-country analysis. Empirical Economics, 26, 651-672. https://doi.org/10.1007/s001810100076
  • Choi, W. G. (2007). Financial market risk and US money demand. IMF Working Paper No. 07/89, 1-35. https://papers.ssrn.com/sol3/papers.cfm...
  • Choudhry, T. (1996). Real stock prices and the long-run money demand function: evidence from Canada and the USA. Journal of International...
  • Dobnik, F. (2013). Long-run money demand in OECD countries: what role do common factors play? Empirical Economics, 45, 89-113. https://doi.org/10.1007/s00181-012-0600-6
  • Fama, E. F. (1981). Stock returns, real activity, inflation, and money. The American Economic Review, 71(4), 545-565. https://www.jstor.org/stable/1806180
  • Fethi, S., & Katircioglu, S. (2015). The role of the financial sector in the UK economy: evidence from a seasonal cointegration analysis....
  • Furey, K. (1993). The effect of trading in financial markets on money demand. Eastern Economic Journal, 19(1), 83-90. https://www.jstor.org/stable/40426310
  • Granger, C. W. J. (2001). Developments in the study of cointegrated economic variables. In Essays in econometrics: collected papers of Clive...
  • Hafer, R. W., & Kutan, A. M. (1994). Economic reforms and long-run money demand in China: implications for monetary policy. Southern Economic...
  • Ham, S. A., Kruger, J., & Tudor-Locke, C. (2009). Participation by US adults in sports, exercise, and recreational physical activities....
  • Johansen, S., & Juselius, K. (1990). Maximum likelihood estimation and inference on cointegration--with applications to the demand for...
  • Kokko, S., Selänne, H., Alanko, L., Heinonen, 0. J., Korpelainen, R., Savonen, K., Vasankari, T., Kannas, L., Kujala, U. M., & Aira, T....
  • Lindström, M., & Giordano, G. N. (2016). The 2008 financial crisis: Changes in social capital and its association with psychological wellbeing...
  • Mabkhot, H., & Ghouri, A. M. (2023). Effects of Supportive Culture, Innovative Culture and Knowledge Technology Capabilities on Employees...
  • Malm, C., Jakobsson, J., & Isaksson, A. (2019). Physical activity and sports-real health benefits: a review with insight into the public...
  • Marques, L. M., Fuinhas, J. A., & Marques, A. C. (2013). Does the stock market cause economic growth? Portuguese evidence of economic...
  • Milbourne, R. (1988). Disequilibrium buffer stock models: a survey. Journal of Economic Surveys, 2(3), 187-208. https://doi.org/10.1111/j.1467-6419.1988.tb00044.x
  • Mishkin, F. S. (2007). The Economics of Money, Banking, and Financial Markets. Pearson Education. https://thuvienso. hoasen.edu.vn/bitstream/handle/123456789/8420/Contents.pdf?sequence=4
  • Pal, K., & Mittal, R. (2011). Impact of macroeconomic indicators on Indian capital markets. The Journal of Risk Finance, 12(2), 84-97....
  • Palley, T. I. (1995). The demand for money and non-GDP transactions. Economics Letters, 48(2), 145-154. https://doi.org/10.1016/0165-1765(94)00605-2
  • Panetta, F. (2002). The stability of the relation between the stock market and macroeconomic forces. Economic Nates, 31(3), 417-450. https://doi.org/10.1111/1468-0300.00093
  • Pate, R.R., Trost, S. G., Levin, S., & Dowda, M. (2000). Sports participation and health-related behaviors among US youth. Archives of...
  • Song, W. (2023). Environmentality, Sustainability, and Chinese Storytelling. Cultura, 20(1), 55-66. https://doi.org/ 10.3726/CUL012023.0005
  • Sudeck, G., & Pfeifer, K. (2016). Physical activity-related health competence as an integrative objective in exercise therapy and health...
  • Wee, I., Ong, C. W., Syn, N., & Choong, A. (2018). Computational fluid dynamics and aortic dissections: panacea or panic? Vascular &...