Has Financial Fair Play Changed European Football
DOWNLOAD
Download Has Financial Fair Play Changed European Football PDF/ePub or read online books in Mobi eBooks. Click Download or Read Online button to get Has Financial Fair Play Changed European Football book now. This website allows unlimited access to, at the time of writing, more than 1.5 million titles, including hundreds of thousands of titles in various foreign languages. If the content not found or just blank you must refresh this page
Has Financial Fair Play Changed European Football
DOWNLOAD
Author : Ariela Caglio
language : en
Publisher:
Release Date : 2023
Has Financial Fair Play Changed European Football written by Ariela Caglio and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023 with categories.
The Impact Of Uefa S Financial Fair Play On Certain Key Financial Aspects Of Football Clubs
DOWNLOAD
Author : David Uhrhan
language : en
Publisher: GRIN Verlag
Release Date : 2017-12-19
The Impact Of Uefa S Financial Fair Play On Certain Key Financial Aspects Of Football Clubs written by David Uhrhan and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-12-19 with Business & Economics categories.
Master's Thesis from the year 2017 in the subject Business economics - Business Management, Corporate Governance, grade: 1,7, Frankfurt School of Finance & Management, language: English, abstract: This thesis sheds light on why UEFA came up with regulations in this form and what possible alternative forms the regulation framework could have taken. Additionally, the analysis shows how the relevant elements for the BE-calculation have evolved since the announcement of FFP and whether significant changes are perceptible. On top of this, the author will further investigate just how effective UEFA’s monitoring and sanctioning procedure are for clubs when breaches of FFP regulations occur and whether any improvements in the relevant measures indicators have taken place. This work shows that FFP has not been able to limit transfer spending or salary inflation in European club football. Moreover, it illustrates how the clubs’ financial situations have improved in recent years. Growing equity through owner’s capital contributions, new money through foreign takeovers as well as rising operating profits, enabled clubs to reduce their debt level and improve their BE-results. With revenue growth exceeding the growth of salary and operating costs, clubs have been able to reduce their losses and more and more clubs report bottom-line profits. Analyzing the different sources of revenue that clubs are obtaining and the relevance of each source over time, it is perceivable that especially the Money League (ML) clubs have been able to increase their income through commercial activities while smaller clubs benefit through collectively bargained broadcasting agreements. By enforcing FFP, UEFA has already excluded a few clubs from European club competitions, imposed monetary fines and squad size restrictions and entered into several settlement agreements with clubs not fulfilling the BE-criterion. However, UEFA lacks transparency about the monitoring process as they do not publish any information about different assessments of the BE-calculation and never state the explicit BE-results that clubs under settlement have realized.
Does Fair Play Matter Uefa Regulation And Financial Sustainability In The European Football Industry
DOWNLOAD
Author : Ariela Caglio
language : en
Publisher:
Release Date : 2017
Does Fair Play Matter Uefa Regulation And Financial Sustainability In The European Football Industry written by Ariela Caglio and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with categories.
In 2009 the Union of European Football Associations (UEFA) launched its Financial Fair Play Regulations (FFPR) aimed at preventing professional football clubs from overspending in the quest of sporting success to the detriment of their long-run financial sustainability. The rationale and the effectiveness of the FFPR have both been questioned, but only on theoretical grounds. We make a first attempt at bringing empirical evidence to this debate exploiting an original dataset covering 156 clubs playing in the top five European Leagues (those of England, France, Germany, Italy and Spain) in the period 2006-2015. We address two main questions: whether before 2009 there was indeed a problem of growing financial leverage for European football clubs, and whether after 2009 the financial leverage of European clubs has started decreasing. We find that the introduction of the FFPR is associated with changes in the financial sustainability of European football clubs that are consistent with the regulations' intended effects. These changes are, however, rather weak and vary substantially across national leagues.
The Impact Of Uefa S Financial Fair Play On Certain Key Financial Aspects Of Football Clubs
DOWNLOAD
Author : David Uhrhan
language : en
Publisher: Grin Publishing
Release Date : 2017-12-27
The Impact Of Uefa S Financial Fair Play On Certain Key Financial Aspects Of Football Clubs written by David Uhrhan and has been published by Grin Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-12-27 with categories.
Master's Thesis from the year 2017 in the subject Business economics - Business Management, Corporate Governance, grade: 1,7, Frankfurt School of Finance & Management, language: English, abstract: This thesis sheds light on why UEFA came up with regulations in this form and what possible alternative forms the regulation framework could have taken. Additionally, the analysis shows how the relevant elements for the BE-calculation have evolved since the announcement of FFP and whether significant changes are perceptible. On top of this, the author will further investigate just how effective UEFA's monitoring and sanctioning procedure are for clubs when breaches of FFP regulations occur and whether any improvements in the relevant measures indicators have taken place. This work shows that FFP has not been able to limit transfer spending or salary inflation in European club football. Moreover, it illustrates how the clubs' financial situations have improved in recent years. Growing equity through owner's capital contributions, new money through foreign takeovers as well as rising operating profits, enabled clubs to reduce their debt level and improve their BE-results. With revenue growth exceeding the growth of salary and operating costs, clubs have been able to reduce their losses and more and more clubs report bottom-line profits. Analyzing the different sources of revenue that clubs are obtaining and the relevance of each source over time, it is perceivable that especially the Money League (ML) clubs have been able to increase their income through commercial activities while smaller clubs benefit through collectively bargained broadcasting agreements. By enforcing FFP, UEFA has already excluded a few clubs from European club competitions, imposed monetary fines and squad size restrictions and entered into several settlement agreements with clubs not fulfilling the BE-criterion. However, UEFA lacks transparency about the monitoring process as they do not publish any i
Did Uefa S Financial Fair Play Harm Competition In European Football Leagues
DOWNLOAD
Author : Stephan Birkhäuser
language : en
Publisher:
Release Date : 2017
Did Uefa S Financial Fair Play Harm Competition In European Football Leagues written by Stephan Birkhäuser and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with categories.
When introducing UEFA's Financial Fair Play (FFP) it was argued that as a beneficial side effect competition in European football leagues should become more equilibrated and perceived as being fairer. Based on a hand-collected dataset on league results, player market values as well as investor payments of more than 300 European football clubs, we scrutinize the impact of FFP on the competitive landscape in major European football leagues. By applying a fixed-effect panel regression difference-in-differences approach, we find results that are consistent with the view that FFP might have further amplified the competitive imbalance. This might be caused by the fact that FFP raises some barriers against the entrance of new investors. Moreover, we present evidence that FFP supports the former season's winner in terms of budget shares in the upcoming season. Overall, our results support the view that FFP turns European football leagues less equilibrated and even tends to freeze current hierarchies.
Is Financial Fair Play Really Justified
DOWNLOAD
Author : Henning Vöpel
language : en
Publisher:
Release Date : 2013
Is Financial Fair Play Really Justified written by Henning Vöpel and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.
There is an ongoing debate on how Financial Fair Play (FFP) will affect European club football and whether it is really fair. So far regulations have been very different among national leagues. Therefore, FFP is expected to trigger some asymmetric adjustments among clubs and leagues thereby leading to some changes in the competitive balance and probably to a new competitive equilibrium in European club football in an inter- as well as in an intra-league comparison. The Paper discusses to what regard and to what extent FFP rules are really needed to remedy market failure and whether these rules are legitimate or justifiable with respect to their objectives and potential conflicts with EU competition law.
Sport Governance And Operations
DOWNLOAD
Author : Euisoo Kim
language : en
Publisher: Routledge
Release Date : 2021-10-21
Sport Governance And Operations written by Euisoo Kim and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-10-21 with Sports & Recreation categories.
Governance is at the centre of the work of all sport organizations, from small sport clubs to international sport federations. This book explores sport governance in today’s globalised marketplace. It adopts a broad, modern definition of ‘governance’ that includes the operational process of organizing resources and the implementation of standing policies and plans, as well as regulation, direction, control and evaluation. The book presents a series of cutting-edge case studies that shine important new light on key themes in contemporary sport management, including sustainability, human resource management, cross-cultural management and labour markets, across a wide range of sporting contexts, from Formula One and the Commonwealth Games to the NCAA. Bringing together researchers and practitioners from five continents, it represents an important platform for the international exchange of ideas, best practices, and scholarly enquiry. This is fascinating reading for any student, researcher or practitioner with an interest in sport business and management, event management or international business.
The Economics Of Professional Team Sports
DOWNLOAD
Author : Paul Downward
language : en
Publisher: Routledge
Release Date : 2000-09-07
The Economics Of Professional Team Sports written by Paul Downward and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000-09-07 with Business & Economics categories.
This book is unique in that it offers the first truly rigorous application of economic principles to its subject. The authors analyse:* the economic literature on sporting leagues* the demand for professional team sports* the players' labour market.Amongst the topics discussed are the US system of franchising and draft picks and the chances of thei
Financial Fair Play In European Football
DOWNLOAD
Author : Angelo D'Andrea
language : en
Publisher:
Release Date : 2016
Financial Fair Play In European Football written by Angelo D'Andrea and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
The 2010 UEFA Club Licensing and Financial Fair Play Regulations (FFPR) constitute an enhancement of the Club Licensing System, originally introduced in 2004-2005 with the aim to regulate the world of European football and create a more competitive and level playing field. The aim of this paper is to review the economic studies that have so far investigated the subject of Financial Fair Play Regulations, in order to provide a comprehensive overview of their pros and cons. Starting from a common assumption - that football clubs are special firms for reasons of economics and political economy - all but one of the reviewed articles criticize FFPR, by focusing on the Break-Even Requirement (BER), i.e. the principle according to which relevant expenses must be matched by relevant revenues. The critiques fall into three categories, highlighting that on the one side FFPR are likely to produce inefficiencies in labour markets, and, on the other side, they are likely to trigger unfair competition in football leagues, as well as freezing existing hierarchies in European soccer. The paper analyzes each individual critique, as well as the respective counterarguments.
The Effects Of The Uefa Financial Fair Play Regulation On Earnings Management In The European Football Industry
DOWNLOAD
Author : Marcus Brooks
language : en
Publisher:
Release Date : 2013
The Effects Of The Uefa Financial Fair Play Regulation On Earnings Management In The European Football Industry written by Marcus Brooks and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.
The purpose of this study is to examine various factors effecting earnings management behavior in the European football industry from 2006 to 2012. Empirical studies have documented the association between football clubs' financial difficulties and player salaries, but none have empirically examined the association between player salaries and club's earnings management behavior. In response to the increased financial instability of football clubs in Europe, the passage of the UEFA Financial Fair Play regulation in 2009 was intended to increase financial discipline and responsibility amongst football clubs. However, the findings from this study document that clubs with higher payrolls and those actively attempting to be in compliance with the Financial Fair Play regulation engage in more opportunistic earnings management behavior, thereby reducing the reliability of the club's published financial statements. Additionally, this study examines the role corporate governance and audit quality plays in mitigating these aggressive earnings management behaviors, and finds, consistent with prior literature, stronger corporate governance and audit quality characteristics are negatively associated with forms of earnings management. Overall, the findings from this study reveal the possible adverse effects stemming from newly enacted financial regulations, and document the importance of sound fiscal policies to protect the interests of various shareholders and stakeholders.