University of Economics, Prague
Faculty of Finance and Accounting Study programme “Finance and Accounting”
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M a s t e r T h e s i s E v a l u a t i o n Reviewer form
Student name: Bc. Ivan Riabets
Title of the thesis: International football performance pass-through to exchange rate changes
Year of the defence: 2021 Supervisor name
and affiliation: Ing. Viktar Dudzich (Department of Monetary Theory and Policy) Reviewer name
and affiliation:
Ing. Ondřej Šíma, Ph.D. (Department of Monetary Theory and Policy; Assistant Professor)
THESIS CONTENT SUMMARY:
The diploma thesis deals with the impact of football matches on the development of the exchange rate in three countries: the Czech Republic, Poland, Turkey. The author divided his text of the diploma thesis into six chapters.
In the first part, Mr. Riabets focused on the theoretical connection between football and (behavioral) economics, the stock market, and the exchange rate. The data and applied methodology are described in the second chapter. The third to fifth chapters are devoted to empirical verification for selected countries (Czech Republic, Poland, Turkey). In these chapters, the author econometrically verifies the effects of football teams' performance on the exchange rate.
The aim of the thesis (p. 8): “…to provide estimates of football performance pass-through to exchange rate changes (in absolute values) from August 1994 to May 2021…” was fulfilled.
OBJECTIONS AND REMARKS:
Ivan Riabets prepared a very high-quality diploma thesis. It is necessary to highlight an exciting and well-crafted topic that is not common. For the robustness of the estimates, the author could include more countries in his analysis and, for example, apply panel regression.
Page 2/2 QUESTIONS FOR THE DEFENCE:
1) What is the so-called "Barcelona effect" in the context of sporting events?
2) In addition to the "economics of sport," the "economics of culture" is also enjoyable. What does the so-called "Bilbao effect" mean?
3) Is there a rational economic reason why top footballers receive high salaries?
