The Effect of The Match Results on Bali United’s Stock Price Movements

Agung Novianto Margarena(1*),Arian Agung Prasetiyawan(2)
(1) Universitas Sebelas Maret
(2) IAIN Surakarta
(*) Corresponding Author
DOI : 10.22515/relevance.v3i1.2299

Abstract

This study was conducted due to differences in the study results in
several countries related to the effect of the match results on stock
movements. Dimic et. al (2019) stated the match results effect the
movement of stock prices, while Mishra & Smyth (2010) stated the
vice versa. Then, Floros (2014) put forward different results through
the study of four clubs in four European countries. Thus, this study
reexamines the effect of the match results on the stock price
movement of Bali United. Moreover, Bali United is the first Southeast
Asian football club to be listed on the stock market. This study uses a
quantitative method with a sample of 31 Bali United’s matches after
listed on the stock market. The data were analyzed using simple linear
regression with SPSS 21 with either won, drawn or lost match results
represented by goal margins. The stock price movements are
represented by stock prices after the results of the match. It was found
that the results of the match had a positive effect on the stock
movement of Bali United

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Article History

Submited : 15 March 2020
Revised : 2 June 2020
Published : 1 July 2020

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