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Titel: The impact of investors on transfer fees in the English Premier League: A study of the ownership structures
VerfasserIn: Richau, Lukas
Follert, Florian
Frenger, Monika
Emrich, Eike
Sprache: Englisch
Titel: Corporate Ownership and Control
Bandnummer: 18
Heft: 3, special issue
Seiten: 241–256
Verlag/Plattform: Virtus Interpress
Erscheinungsjahr: 2021
Freie Schlagwörter: Sports Finance
Property Rights
Club Ownership
Investors
Football Transfer Market
DDC-Sachgruppe: 796 Sport
Dokumenttyp: Journalartikel / Zeitschriftenartikel
Abstract: Transfer fees in European football have experienced a rapid increase in the past years. Simultaneously, an increasing number of domestic and recently foreign investors — who are assumed to further increase team spending in European football — have entered the football market by becoming club owners. In light of these developments, fears associated with an increasing influence of foreign (majority) investors from the financial as well as the emotional fan perspective have increased. Given the rather limited number of empirical studies focusing on the impact of investors on transfer fees, we shed further light on this topic. Based on a data sample including transfer fees, player characteristics, player performance and team performance from 2012–2013 to 2018–2019 for the English Premier League, we estimate OLS regressions and quantile regressions to analyze the effects of ownership concentration and investor origin on the amount of individual transfer fees. While we do not find strong evidence that ownership concentration increases the willingness to pay, we find fairly consistent results that foreign investors are willing to pay a premium compared to domestic investors. Our results also indicate that especially foreign investors who own a majority share of a club have a positive effect on transfer fees for the upper quantiles.
DOI der Erstveröffentlichung: 10.22495/cocv18i3siart2
URL der Erstveröffentlichung: https://virtusinterpress.org/The-impact-of-investors-on-transfer-fees-in-the-English-Premier-League-A-study-of-the-ownership-structures.html
Link zu diesem Datensatz: urn:nbn:de:bsz:291--ds-404029
hdl:20.500.11880/36320
http://dx.doi.org/10.22028/D291-40402
ISSN: 1810-3057
1727-9232
Datum des Eintrags: 29-Aug-2023
Fakultät: HW - Fakultät für Empirische Humanwissenschaften und Wirtschaftswissenschaft
Fachrichtung: HW - Sportwissenschaft
Professur: HW - Keiner Professur zugeordnet
Sammlung:SciDok - Der Wissenschaftsserver der Universität des Saarlandes

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