Spelindustrins Paradox: En eventstudie om lansering av tv-spels påverkan på aktiekursen
Independent thesis Basic level (degree of Bachelor), 10 credits / 15 HE creditsStudent thesis
Purpose: To examine how video-game releases affect the share price, and if video-game reviews have any impact on the share price of gaming corporations.
Method: A quantitative deductive research approach is applied with event study methodology used as basis. The investigated companies were the five largest gaming companies listed on the U.S. NASDAQ exchange. A total of 29 video-game launches and 85 reviews where examined.
Theory: The study is based on The Efficient Market Hypothesis, Agent Theory, Public Relations Theory, Nextopia and previous research.
Results: The result contains 114 observations in five companies. The result accounts for the cumulative abnormal return for each video-game. It also accounts for the cumulative average abnormal return for each company ten days after release.
Analysis: The hypothesis test accounts for a statistical significant correlation between negative abnormal return and the release. It is also accounted for a cumulative average abnormal return of -2,29 % of the video-game companies stocks.
Conclusion: There is a negative abnormal return for shareholders ten days after a video-game release. The result and the analysis dose confirm a direct correlation between video-game reviews and the abnormal return.
Place, publisher, year, edition, pages
2014. , 60 p.
Event study, Market model, abnormal return, CAAR, CAR, efficient market hypothesis, public relations, agent theory, Nextopia, NASDAQ, video-game industry, video-game reviews, video-game releases.
Eventstudie, Marknadsmodellen, abnormal avkastning, CAAR, CAR, Effektiva marknadshypotesen, public relations, agentteorin, Nextopia, NASDAQ, spelbranschen, spelrecensioner, spellansering.
IdentifiersURN: urn:nbn:se:sh:diva-24102OAI: oai:DiVA.org:sh-24102DiVA: diva2:725619
Subject / course
2014-06-16, 19:32 (Swedish)
UppsokSocial and Behavioural Science, Law
Smolander, Maria, Högskolelektor
Wagué, Cheick, Professor