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AuthorRefai, Hisham Al
AuthorEissa, Mohamed Abdelaziz
Available date2020-10-13T11:00:39Z
Publication Date2017
Publication NameResearch in International Business and Finance
ResourceScopus
ISSN2755319
URIhttp://dx.doi.org/10.1016/j.ribaf.2017.04.032
URIhttp://hdl.handle.net/10576/16442
AbstractThis study examines the impact of the FIFA's official announcements on Doha Stock Exchange (DSE) of Qatar with respect to the 2022 World Cup. Using the abnormal unsystematic volatility method of Hilliard and Savickas (2002), our empirical findings reveal that the DSE market is sensitive to FIFA's announcements about the 2022 World Cup. We find that four out of six FIFA announcements act as primary drivers to the DSE market volatility. The significant reactions of the DSE market to these announcements unveil the investors' sentiments about the fate of the governmental and private expenditures on medium- and long-term projects undertaken in anticipation of hosting the 2022 World Cup. The results have some implications to investors in this newly emerging market related to this global sporting event. Any future announcements, good or bad, are likely to impact share prices in DSE market and trigger portfolio reallocation by local and international investors, leading to increased volatility. 1 2017 Elsevier B.V.
Languageen
PublisherElsevier Ltd
Subject2022 World cup
Abnormal volatility
Event study
FIFA official announcements
GARCH model
Qatar stock exchange
TitleThe impact of FIFA's official announcements on the stock market of Qatar: The case of the 2022 World Cup
TypeArticle
Pagination347-353
Volume Number41
dc.accessType Abstract Only


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