nep-spo 2013-06-04 papers

on Sports and Economics

Issue of 2013‒06‒04
two papers chosen by
Joao Carlos Correia Leitao
University of Beira Interior and Technical University of Lisbon

Olympic news and attitudes towards the Olympics: A compositional time-series analysis of how sentiment is affected by events By Terence C. Mills; Peter Dawson; Paul Downward
Environmental impact of the 2008 Beijing Olympic Games By Huijuan, Cao; Fujii, Hidemichi; Managi, Shunsuke

Olympic news and attitudes towards the Olympics: A compositional time-series analysis of how sentiment is affected by events

By:	Terence C. Mills (University of Loughborough); Peter Dawson (University of East Anglia); Paul Downward (University of Loughborough)
Abstract:	The Olympic Games are considered to be the most prestigious multi-sport event in the world. However, with growing costs associated with hosting such events against a backdrop of questionable economic benefits, and yet elation that follows from sporting success, a number of studies have started to address its intangible or softer impacts as a justification for the investment. It is well known that sentiment plays a part in the evolving economic valuation of companies through the stock market. What is less well known is how ‘news’ affects the sentiment towards major public investments like the Olympics. In this paper we consider, from the context of the pre-event stage of the 30th Olympiad, the relationship between attitudes towards the Olympics and Olympic-related news; specifically the bad news associated with an increase in the cost of provision, and the good news associated with Team GB’s medal success in 2008. Using a unique data set and an event-study approach that involves compositional time-series analysis, it is found that ‘good’ news affects sentiments much more than ‘bad’ but that the distribution of such sentiment varies widely. For example, a much more pronounced effect of good news is identified for females than males, but ‘bad’ news has less of an impact on the young and older age groups. The paper consequently argues that extreme caution should be exercised in policy pronouncements that are based on such sentiments.
Date:	2013–05
URL:	http://d.repec.org/n?u=RePEc:uea:aepppr:2012_46&r=spo

Environmental impact of the 2008 Beijing Olympic Games

By:	Huijuan, Cao; Fujii, Hidemichi; Managi, Shunsuke
Abstract:	Beijing organized the 2008 Summer Olympic Games, and the main goal of the Chinese government regarding this event was to hold a Green Olympics. A difference-in-differences approach was used to estimate the environmental impact the Olympic Games on air quality improvement in Beijing, compared to improvements in other areas in China. The results indicate that compared to other regions, air quality in Beijing improved for a short period of time. These improvements were largely due to the implementation of several temporary measures, including factory closures and traffic control. However, there is no evidence indicating that the Olympic Games reduced the concentration of sulfur dioxide in Beijing. --
Keywords:	Olympic Games,Beijing,air pollution,impact estimate,difference-in-differences approach
JEL:	Q51 Q53 L83 G14
Date:	2013
URL:	http://d.repec.org/n?u=RePEc:zbw:ifwedp:201330&r=spo

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