2023
Does On-stage Performance of Esports Teams Impact Stock Prices: Evidence From the Astralis Group
Applied Economics Letters
- ,
- ,
- 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
- ID information
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- DOI : 10.1080/13504851.2021.2009757
- ISSN : 1350-4851
- eISSN : 1466-4291