ticles, it was so interesting I wanted to share it anyway.According to the Washington Post,
How popular is soccer? Popular enough to bring financial markets to a halt, it seems. A new paper (pdf) from the European Central Bank finds that during the 2010 World Cup, the number of stock trades plunged an average of 45 percent in countries whose teams were playing at the time. (A goal caused a further 5 percent drop.) “We conclude,” write Michael Ehrmann and David-Jan Jansen, “that stock markets were following developments on the soccer pitch rather than in the trading pit.”
It is crazy how far reaching and impactful an effect sports can have on business. There is no doubt numerous articles will be published over the next few weeks about the dramatic drop in work productivity during March Madness. My opinion (while skewed since I like sports and am not attempting to run a business) is that employers need to be aware of what’s going on, respect the interest, and if possible embrace it. Permit games to be on in break areas and allow for flexible hours so employees can watch games and return to work. Whether it’s the World Cup, March Madness, the Olympics etc, like it or not watching these sporting events will take precedence over most everything else (especially work). So be reasonably flexible and enjoy the renewed excitement and energy these events bring to the office morale. Ref. washingtonpost.com
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