Graduation Year


Date of Submission


Document Type

Campus Only Senior Thesis

Degree Name

Bachelor of Arts



Reader 1

Richard Burdekin

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Rights Information

© 2015 Anthony M. Contreras


The present paper explores the effects player transfers have on share price for publicly traded football clubs in Europe. The study utilizes two samples: one English sample from 1997—2004, and another more contemporary European sample from 2007—2014. Preliminary analysis assesses share price links with team performance, financial variables, and two STOXX indices. Further analysis includes 12 event studies testing for abnormal returns resulting from player transfers. Of these 12 event studies, half of the transfers yield abnormal returns. Though results varied, there remains ample evidence from this paper for academics to further study the topic of player news and share prices for publicly traded football clubs.

thesisFinal.pdf (1466 kB)

This thesis is restricted to the Claremont Colleges current faculty, students, and staff.