Football and Exchange Rates
Empirical Support for Behavioral Economics
Bibliographic Data
| ID | 13667471 |
|---|---|
| Authors | Gülin Öğüt Eker (0000-0003-0911-9502, Hacettepe University), Gulin Eker (Hacettepe University), Hakan Berument (0000-0003-2276-4741, Bilkent University, corresponding author), Burak Doğan (0000-0003-1099-1509, Undersecretariat of Turkish Treasury) |
| Year | 2007 |
| Volume | 101 |
| Issue | 2 |
| Pages | 643-654 |
| Publication date | 2007-10-01 |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Psychological Reports (JOURNAL) |
| Journal identifiers | ISSN: 0033-2941 • E-ISSN: 1558-691X |
| Publisher | SAGE Publishing (PUBLISHER • US) |
| DOI | 10.2466/pr0.101.2.643-654 |
| PMID | 18175508 |
| OpenAlex | W1988940899 |
| Language | EN |
| References cited | 17 |
Recently, economic theory has been expanded to incorporate emotions, which have been assumed to play an important role in financial decisions. The present study illustrates this by showing a connection between the sports performance of popular national football teams (Besiktas, Fenerbahce, and Galatasaray) and performance of the Turkish economy. Specifically, a significant positive association was found between the success of three major professional Turkish football teams and the exchange rate of the Turkish lira against the U.S. dollar. The effect of the football success of several Turkish football teams on the exchange rate of the Turkish lira was examined using the simultaneous multiple regression model with predictor measures of wins, losses, and ties for different combinations of teams to predict the depreciation rate of the Turkish lira between the years 1987 and 2003. Wins by Turkish football teams against foreign (non-Turkish) rivals increased with exchange rate depreciation of the Turkish lira against the U.S. dollar
Advertising · Business · Championship · Classical economics · Depreciation (economics · Economics · Exchange rate · Football · Football players · Foreign exchange market · League · Liberian dollar · Lira · Microeconomics · Monetary economics · Political science · Sports economics · Turkish · Complex Systems and Time Series Analysis · Experimental Behavioral Economics Studies · Finance · Psychology · Sports Analytics and Performance
| Highly cited | No |
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