Neural networks for estimating Macro Asset Pricing model in football clubs

Abstract

The recent crisis caused by COVID-19 directly affected consumption habits and thestability sof financial markets. In particular, the football industry has been hit hard bythis pandemic and therefore has more volatile stock prices. Given this new scenario,further research is needed to accurately estimate the value of the shares of footballclubs. In this paper, we estimate an asset pricing model in football clubs with differentcompositions of risk nature using non-linear techniques of artificial neural networks.Usually, asset pricing models have been estimated with linear methods such as ordi-nary least squares (...)