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Can Social Media Predict Soccer Clubs' Stock Prices? The Case of Turkish Teams

Raha Akhavan - Tabatabaei
Joint work with Altug Tanaltay, Amirreza Safari-Langroudi, Nihat Kasap
Raha Akhavan - Tabatabaei is associate professor of Operations Management and program director of M.Sc. in Business Analytics at Sabanci Business School. Prior to this role, she has held positions of associate professor of Operations Research and founding director of Masters in Analytics at Universidad de los Andes in Bogota, Colombia, and senior industrial engineer at Intel Corporation in Arizona, USA. She has received her PhD in Industrial Engineering and Operations Research from North Carolina State University. Her research is focused on stochastic modeling and data-driven decision making with applications in healthcare, logistics, revenue management and reliability among others. 
 
Amirreza Safari-Langroudi (Co-Presenter) currently works as a business data analyst at Alibaba Travel Co., one of the leading tech companies in Iran. He received his bachelor’s degree in Industrial Engineering at Sharif University of Technology, Iran. He also received his M.Sc. degree in Business Analytics at Sabanci Business School. His academic expertise is on Sports Analytics, Data Mining, Machine Learning, and Big Data. His master thesis is on predicting soccer clubs' stock market prices using investors’ sentiments from social media.

Abstract

Finance literature in sports focuses on three main methods of stock price prediction in soccer: based on match results, pre-match expectations or match importance. For pre-match expectations, betting odds is commonly used as the indicator of investors' sentiments. We propose to include Twitter data as another indicator of this variable, and analyze the links between soccer match results, sentiments, and stock returns of the four major Turkish soccer teams. Our results show that social media can be a strong indicator of pre-match expectations and investors’ sentiments in stock price prediction.

 

Raha Akhavan - Tabatabaei
December 8, 2020 - 18:00