2020
Post-IPO Financial Performance and Informational Efficiency of Stock Returns of Bali United Football Club: The Preliminary Evidence
Asian Sport Management Review
- Volume
- 15
- Number
- First page
- 39
- Last page
- 48
Bali United Football Club successfully listed on the Indonesia Stock Exchange in 2019, making it the second professional football team in Asia to undertake an IPO. This paper aims to provide preliminary empirical evidence on the post-IPO financial performance of Bali United and the impact of match outcomes on its stock price. We find revenue and income improves after going public and that on-field performance has a direct impact on Bali United`s stock prices. These empirical findings suggest that going public could help improve transparency of football clubs in Indonesia. Given the dearth of research on football in Indonesia, the paper also has the objective of contributing to the literature on sports business in Indonesia.
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