The economic impact of Olympic Games : effects of host country announcements on stock market returns / Bryan Engelhardt... [et al.]

Engelhardt, Bryan

Roughly seven years before an Olympic Games, the International Olympic Committee (IOC) accepts bids from countries to host an Olympics. Subsequently, the IOC determines and announces to the world who has won (and lost) the right to host. Contrary to prior evidence, the authors find the announcements do not affect the bidding countries’ stock markets. The authors complement prior studies by including additional, more recent, years of announcements, by investigating whether there are effects prior to the announcement, and by testing for an effect both parametrically and nonparametrically.

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