Given
that the 2022 FIFA World Cup in Qatar was unique due to its timing (held in
winter for the first time), location (Middle East), and controversies (human
rights issues, environmental concerns), your research could explore how these
factors influenced the stock market in Qatar.
Potential
Research Questions:
- How did the stock market in
Qatar react to the announcement and the hosting of the FIFA World Cup
2022? - What were the short-term
and long-term effects of the 2022 FIFA World Cup on specific sectors
within the Qatari stock market? - Did the geopolitical and
social controversies surrounding the Qatar World Cup affect investor
behavior and market performance?
Step
2: Literature Review Adaptation
Using
the provided dissertation as a model, your literature review should cover:
- Mega Sporting Events and
Stock Markets: Review general literature on the financial impacts of
mega sporting events, with a focus on how these events historically
influence stock markets. - Unique Aspects of the
Qatar World Cup: Highlight literature discussing the unique timing,
cultural, and economic context of Qatar. This can include the effects of
hosting in a small, wealthy nation with substantial state control over the
economy. - Market Efficiency and
Investor Behavior: Investigate how markets typically react to both
anticipated and unanticipated events, and how external factors (like
controversies) can impact these reactions.
Step
3: Methodology
The
provided dissertation uses an event study methodology, which is also suitable
for your research. You can replicate this approach but focus specifically on
the Qatari stock market.
Key
Elements:
- Event Dates:
Identify key dates for Qatar, such as the announcement of Qatar winning
the bid, the start of the tournament, and key matches (particularly those
involving Qatar’s national team). - Data Collection:
Collect data from the Qatar Stock Exchange, focusing on broad market
indices and sector-specific indices that might be particularly impacted
(e.g., construction, hospitality, telecommunications). - Event Windows:
Analyze various event windows (e.g., [-40, 40], [-20, 20], [-10, 10], and
[-5, 5] trading days around the event dates). - Abnormal Returns (ARs)
and Cumulative Abnormal Returns (CARs): Calculate ARs and CARs for the
relevant periods, using statistical tests to assess significance.
Step
4: Writing Your Dissertation
Follow
the structure provided in the dissertation you uploaded, but with specific
content tailored to Qatar 2022. Here’s a proposed chapter outline:
- Introduction
- Background of the
study, focusing on Qatar 2022. - Research questions
and hypotheses. - Literature Review
- Overview of previous
studies on mega sporting events and stock markets. - Discussion on the
specific context of Qatar and the 2022 World Cup. - Methodology
- Detailed explanation
of the event study methodology. - Data sources and
collection methods. - Statistical
techniques for analyzing stock market reactions. - Data Analysis and
Results - Presentation of ARs
and CARs around key event dates. - Sector-specific
analysis of the Qatari stock market. - Discussion of the
statistical significance of findings. - Discussion
- Interpretation of
results in the context of existing literature. - Implications for
investors and policymakers. - Consideration of the
unique aspects of the Qatar World Cup. - Conclusion
- Summary of findings.
- Contributions to the
literature. - Suggestions for
future research, potentially on other Middle Eastern countries or events
with similar contexts.
Step
5: Additional Considerations
- Geopolitical Factors:
Include a section discussing the potential impact of geopolitical tensions
on the Qatari market during the World Cup. - Controversies:
Consider the role that human rights issues, environmental concerns, and
global scrutiny might have played in market reactions.
1.
Research Gap Identification
Objective:
To identify where existing research falls short in understanding the impact of
hosting the FIFA World Cup, particularly the 2022 event in Qatar, on the stock
market.
Key
Points:
- Previous Research Focus:
Most prior studies have concentrated on the impact of mega sporting events
like the FIFA World Cup on the economies of developed nations or large
markets (e.g., South Africa 2010, Germany 2006). Few studies have focused
on smaller, wealthier nations in the Middle East, such as Qatar, where the
economic and financial environment is distinct. - Unique Context of Qatar
2022: The World Cup in Qatar was unique due to its timing (winter
tournament), geopolitical factors, controversies related to human rights,
and the nation’s economic structure (highly controlled and dependent on
energy exports). These factors may create different stock market reactions
than those observed in other host countries. - Lack of Volatility and
Statistical Significance Analysis: While some studies have assessed
abnormal returns, few have rigorously analyzed volatility and statistical
significance (e.g., using t-tests) in response to specific event windows
during the World Cup. This is particularly true for the Qatar 2022 event,
which had a number of unprecedented circumstances.
2.
Dissertation Focus
Objective:
To assess the impact of the FIFA World Cup 2022 on the stock market of Qatar,
specifically focusing on abnormal returns, statistical significance, and market
volatility during key event windows.
Research
Questions:
- Did the announcement and
hosting of the FIFA World Cup 2022 generate abnormal returns in the Qatari
stock market? - Were the abnormal returns
during the World Cup statistically significant? - How did market volatility,
as measured by the standard deviation of returns, change during the event
window?
Hypotheses:
- H1: The announcement
and hosting of the FIFA World Cup 2022 resulted in statistically
significant abnormal returns in the Qatari stock market. - H2: The volatility
of stock returns increased during the event window, reflecting heightened
market uncertainty.
3.
Literature Review Strategy
Objective:
To build a robust theoretical foundation for understanding the financial impact
of the FIFA World Cup on stock markets, with a specific focus on the 2022 event
in Qatar.
Approach:
- Broad Review of Mega
Sporting Events: Begin by reviewing the literature on the economic and
financial impacts of hosting mega sporting events. Focus on both positive
and negative market reactions, as well as the efficient market hypothesis
(EMH) in this context. - Narrowing to FIFA World
Cup: Concentrate on studies specifically related to the FIFA World Cup
and their findings on stock market reactions. Include analyses from
previous tournaments, identifying patterns and inconsistencies in results. - Contextualizing Qatar
2022: Examine literature that discusses the unique aspects of Qatar
2022, such as its geopolitical environment, economic structure, and the
controversies surrounding the event. Look for studies that discuss how
these factors might influence investor behavior and stock market
performance. - Methodological Gaps:
Identify where past studies have not employed rigorous statistical methods
to test the significance of abnormal returns or analyze market volatility,
particularly in the context of the World Cup.