Papers

Peer-reviewed International journal
2023

Does On-stage Performance of Esports Teams Impact Stock Prices: Evidence From the Astralis Group

Applied Economics Letters
  • Shuxin Li
  • ,
  • Nobuya Takezawa
  • ,
  • Jiaxi Zhou

Volume
30
Number
5
First page
674
Last page
677
Language
Publishing type
Research paper (scientific journal)
DOI
10.1080/13504851.2021.2009757
Publisher
Informa UK Limited

The recent establishment and popularity of professional esports leagues, coupled with the public listing of the Denmark-based esports team Astralis Group, presents an opportunity to assess whether wins and losses impact a team`s stock price in nontraditional sports. We provide empirical evidence that wins in championship matches impact stock returns for Astralis in a regression-based event study. This suggests that investors perceive championship wins as an indicator of future earnings growth of the group.

Link information
DOI
https://doi.org/10.1080/13504851.2021.2009757
URL
https://www.tandfonline.com/doi/pdf/10.1080/13504851.2021.2009757
ID information
  • DOI : 10.1080/13504851.2021.2009757
  • ISSN : 1350-4851
  • eISSN : 1466-4291

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