| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP13154 |
| DP13154 Financial Restrictions and Competitive Balance in Sports Leagues | |
| Konstantin Sonin; Vsevolod Grabar | |
| 发表日期 | 2018-09-03 |
| 出版年 | 2018 |
| 语种 | 英语 |
| 摘要 | A dramatic surge in revenues from TV broadcasting and brand-selling forced modern football clubs, simultaneously involved in domestic and European competitions, to operate in a new environment. In response, the Union of European Football Associations introduced the Financial Fair Play Regulations, a set of financial regulations that affect all major European clubs. To assess the impact of financial restrictions (e.g., salary caps) on the default risk for individual clubs and competitive balance, we construct a game-theoretic model where clubs make decisions on the amounts they borrow and spend on the team. The impact of financial restrictions on competitive balance is positive; the total amount of debt also decreases at equilibrium. Finally, we show that financial restrictions create more incentives to invest in second-tier clubs compared to the situation in which there are no financial regulations. |
| 主题 | Industrial Organization ; Public Economics |
| 关键词 | Uefa financial fair play Competitive balance Investment tournaments Financial regulation |
| URL | https://cepr.org/publications/dp13154 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/541957 |
| 推荐引用方式 GB/T 7714 | Konstantin Sonin,Vsevolod Grabar. DP13154 Financial Restrictions and Competitive Balance in Sports Leagues. 2018. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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