en pl
en pl

Central European Management Journal

Zobacz wydanie
Rok 2016 
Tom 24 
Numer 3

Identification of Factors Determining Market Value of the Most Valuable Football Players

Sebastian Majewski
University of Szczecin

2016 24 (3) Central European Management Journal

DOI 10.7206/jmba.ce.2450-7814.177

Zawartość artykułu

Abstrakt

Purpose: The problem of identifying the most important determinants of the market value of football players is quite well described in the literature. There are many works that try to identify these factors. Some of them are focused on variables to make a set complete and others are on models and methods. The aim of this article is to present the variables influencing the valuation and to build an econometric model valuing footballers playing on the forward position, taking into consideration the assumptions of the econometric modelling. Such an approach indicates managers as other sources for obtaining information.

Methodology: Econometric models were used to verify the hypothesis formulated in this research. The database was created on the basis of variables presented on the website www.transfermarkt.de that presents the values of the most valuable football players in the world playing on the forward position. The Gretl program was used in the research.

Findings: The literature review showed that there are many independent variables having an impact on the value of the player. There are also many different models used to valuate footballers’ performance rights. The results of estimation of models in the research indicated that such factors as Canadian classification points adjusted the market value of the team and dummy variables describing “goodwill” (only for the best players) had an impact on the market value of footballers’ performance rights.

Limitations/implications: Information about different factors having an impact on football players’ market value could support the investment decision process of football managers.
Originality/value: The results were part of a study concerning economics of sport, particularly processes of management of football clubs and valuation of intangible assets.

Powiązania

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  6. Kesenne, S. (2015). Revenue sharing and absolute league quality; talent investment and talent allocation. Scottish Journal of Political Economy, 62(1), http://dx.doi.org/10.1111/sjpe.12062 [Google Scholar]
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  8. Lucifora, C. and Simmons, R. (2003). Superstar Effects in Sport. Evidence From Italian Soccer. Journal of Sports Economics, 4(1), http://dx.doi.org/10.1177/1527002502239657 [Google Scholar]
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  16. Sznajder, J. (2007). Charakterystyka rynku sportu profesjonalnego. Gospodarka Narodowa, 10: 45–65. [Google Scholar]
  17. Szymanski, S. and Kuper, S. (2009). Soccernomics. Why England Loses, Why Germany and Brazil Win, and Why the US, Japan, Australia, Turkey and Even Iraq Are Destined to Become the Kings of the World’s Most Popular Sport. New York: Nation books. [Google Scholar]
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  22. Carmichael, F., Forrest, D. and Simmons, R. (1999). The Labor Market in Association Football: Who Gets Transferred and For How Much? Bulletin of Economic Research, 51. [Google Scholar]
  23. Deloitte (2015). Commercial breaks. Football Money League. Sport Business Group. Gerrard, B. and Dobson, S. (2000). The determination of transfer fees in English nonleague football. Applied Economics, 32(9). [Google Scholar]
  24. Idson, T. and Kahane, L.H. (2000). Team Effects on Compensation: An Application to Salary Determination in the National Hockey League. Economic Inquiry, 38: 345–57, http://dx.doi.org/10.1111/j.1465-7295.2000.tb00022.x [Google Scholar]
  25. Kahn, L. (2000). The sports business as a labor market laboratory. Journal of Economic Perspectives, 14(3): 75–94, http://dx.doi.org/10.1257/jep.14.3.75 [Google Scholar]
  26. Kesenne, S. (2015). Revenue sharing and absolute league quality; talent investment and talent allocation. Scottish Journal of Political Economy, 62(1), http://dx.doi.org/10.1111/sjpe.12062 [Google Scholar]
  27. Lozano, F.J.M. and Gallego, A.C. (2011). Deficits of accounting in the valuation of rights to exploit the performance of professional players in football clubs. A case study. Journal of Management Control, 22(3): 335–357, http://dx.doi.org/10.1007/s00187-011-0135-6 [Google Scholar]
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  29. Majewski, S., Is it a business feeding on emotions or an act of altruism? The case of financing football in Poland. Folia Oeconomica Lodziensis (in printing). [Google Scholar]
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  32. Rosen, S. and Sanderson, A., (2000). Labor markets in professional sports. Economic Journal, 111: 47–68, http://dx.doi.org/10.1111/1468-0297.00598 [Google Scholar]
  33. Rottenberg, S. (1956). The Baseball Player’s Labor Market. Journal of Political Economy, 64(3): 242–258, http://dx.doi.org/10.1086/257790 [Google Scholar]
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  36. Sznajder, J. (2007). Charakterystyka rynku sportu profesjonalnego. Gospodarka Narodowa, 10: 45–65. [Google Scholar]
  37. Szymanski, S. and Kuper, S. (2009). Soccernomics. Why England Loses, Why Germany and Brazil Win, and Why the US, Japan, Australia, Turkey and Even Iraq Are Destined to Become the Kings of the World’s Most Popular Sport. New York: Nation books. [Google Scholar]
  38. Trequattrini, R., Lombardi, R. and Nappo, F. (2012). The evaluation of the economic value of long lasting professional football player performance rights. WSEAS Transactions on Business and Economics, 4(9). [Google Scholar]
  39. Turnau, R., Clark, E. and Viney, H. (2005). An Option Pricing Framework for Valuation of Football Players. Review of Financial Economics, 14. [Google Scholar]
  40. Wicker, P., Prinz, J., Weimar, D., Deutcher, Ch. and Upmann, T. (2013). No Pain, No Gain? Effort and Productivity in Professional Soccer. International Journal of Sport Finance, 8.2 (May 2013): 124–139 [Google Scholar]
  41. Buriamo, B., Frick, B., Hickfang, M. and Simmons, R. (2015). The economics of long-term contracts in the footballers labour market. Scottish Journal of Political Economy, 62(1), http://dx.doi.org/10.1111/sjpe.12064 [Google Scholar]
  42. Carmichael, F., Forrest, D. and Simmons, R. (1999). The Labor Market in Association Football: Who Gets Transferred and For How Much? Bulletin of Economic Research, 51. [Google Scholar]
  43. Deloitte (2015). Commercial breaks. Football Money League. Sport Business Group. Gerrard, B. and Dobson, S. (2000). The determination of transfer fees in English nonleague football. Applied Economics, 32(9). [Google Scholar]
  44. Idson, T. and Kahane, L.H. (2000). Team Effects on Compensation: An Application to Salary Determination in the National Hockey League. Economic Inquiry, 38: 345–57, http://dx.doi.org/10.1111/j.1465-7295.2000.tb00022.x [Google Scholar]
  45. Kahn, L. (2000). The sports business as a labor market laboratory. Journal of Economic Perspectives, 14(3): 75–94, http://dx.doi.org/10.1257/jep.14.3.75 [Google Scholar]
  46. Kesenne, S. (2015). Revenue sharing and absolute league quality; talent investment and talent allocation. Scottish Journal of Political Economy, 62(1), http://dx.doi.org/10.1111/sjpe.12062 [Google Scholar]
  47. Lozano, F.J.M. and Gallego, A.C. (2011). Deficits of accounting in the valuation of rights to exploit the performance of professional players in football clubs. A case study. Journal of Management Control, 22(3): 335–357, http://dx.doi.org/10.1007/s00187-011-0135-6 [Google Scholar]
  48. Lucifora, C. and Simmons, R. (2003). Superstar Effects in Sport. Evidence From Italian Soccer. Journal of Sports Economics, 4(1), http://dx.doi.org/10.1177/1527002502239657 [Google Scholar]
  49. Majewski, S., Is it a business feeding on emotions or an act of altruism? The case of financing football in Poland. Folia Oeconomica Lodziensis (in printing). [Google Scholar]
  50. Majewski, S. (2014). Wpływ informacji nieekonomicznych na kształtowanie się kursów akcji spółek prowadzących działalność sportową. In: T. Czerwińska i A. Nowak (eds.), Rynek kapitałowy wobec wyzwań dekoniunktury. Warszawa: Wydawnictwo Naukowe Wydziału Zarządzania Uniwersytetu Warszawskiego. [Google Scholar]
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  52. Rosen, S. and Sanderson, A., (2000). Labor markets in professional sports. Economic Journal, 111: 47–68, http://dx.doi.org/10.1111/1468-0297.00598 [Google Scholar]
  53. Rottenberg, S. (1956). The Baseball Player’s Labor Market. Journal of Political Economy, 64(3): 242–258, http://dx.doi.org/10.1086/257790 [Google Scholar]
  54. Sloane, P. (2006). Rottenberg and the economics of sport after 50 years. In P. Rodriguez, S. Kesenne and J. Garcia (eds.), Sports Economics after 50 Years; Essays in Honour of Simon Rottenberg. Spain: University of Oviedo. [Google Scholar]
  55. Sloane, P. (1971). The economics of professional football. Scottish Journal of Political Economy, 18(2). Sloane, P. (2015). The economics of professional football revisited. Scottish Journal of Political Economy, 62(1), http://dx.doi.org/10.1111/sjpe.12063 [Google Scholar]
  56. Sznajder, J. (2007). Charakterystyka rynku sportu profesjonalnego. Gospodarka Narodowa, 10: 45–65. [Google Scholar]
  57. Szymanski, S. and Kuper, S. (2009). Soccernomics. Why England Loses, Why Germany and Brazil Win, and Why the US, Japan, Australia, Turkey and Even Iraq Are Destined to Become the Kings of the World’s Most Popular Sport. New York: Nation books. [Google Scholar]
  58. Trequattrini, R., Lombardi, R. and Nappo, F. (2012). The evaluation of the economic value of long lasting professional football player performance rights. WSEAS Transactions on Business and Economics, 4(9). [Google Scholar]
  59. Turnau, R., Clark, E. and Viney, H. (2005). An Option Pricing Framework for Valuation of Football Players. Review of Financial Economics, 14. [Google Scholar]
  60. Wicker, P., Prinz, J., Weimar, D., Deutcher, Ch. and Upmann, T. (2013). No Pain, No Gain? Effort and Productivity in Professional Soccer. International Journal of Sport Finance, 8.2 (May 2013): 124–139 [Google Scholar]
  61. Buriamo, B., Frick, B., Hickfang, M. and Simmons, R. (2015). The economics of long-term contracts in the footballers labour market. Scottish Journal of Political Economy, 62(1), http://dx.doi.org/10.1111/sjpe.12064 [Google Scholar]
  62. Carmichael, F., Forrest, D. and Simmons, R. (1999). The Labor Market in Association Football: Who Gets Transferred and For How Much? Bulletin of Economic Research, 51. [Google Scholar]
  63. Deloitte (2015). Commercial breaks. Football Money League. Sport Business Group. Gerrard, B. and Dobson, S. (2000). The determination of transfer fees in English nonleague football. Applied Economics, 32(9). [Google Scholar]
  64. Idson, T. and Kahane, L.H. (2000). Team Effects on Compensation: An Application to Salary Determination in the National Hockey League. Economic Inquiry, 38: 345–57, http://dx.doi.org/10.1111/j.1465-7295.2000.tb00022.x [Google Scholar]
  65. Kahn, L. (2000). The sports business as a labor market laboratory. Journal of Economic Perspectives, 14(3): 75–94, http://dx.doi.org/10.1257/jep.14.3.75 [Google Scholar]
  66. Kesenne, S. (2015). Revenue sharing and absolute league quality; talent investment and talent allocation. Scottish Journal of Political Economy, 62(1), http://dx.doi.org/10.1111/sjpe.12062 [Google Scholar]
  67. Lozano, F.J.M. and Gallego, A.C. (2011). Deficits of accounting in the valuation of rights to exploit the performance of professional players in football clubs. A case study. Journal of Management Control, 22(3): 335–357, http://dx.doi.org/10.1007/s00187-011-0135-6 [Google Scholar]
  68. Lucifora, C. and Simmons, R. (2003). Superstar Effects in Sport. Evidence From Italian Soccer. Journal of Sports Economics, 4(1), http://dx.doi.org/10.1177/1527002502239657 [Google Scholar]
  69. Majewski, S., Is it a business feeding on emotions or an act of altruism? The case of financing football in Poland. Folia Oeconomica Lodziensis (in printing). [Google Scholar]
  70. Majewski, S. (2014). Wpływ informacji nieekonomicznych na kształtowanie się kursów akcji spółek prowadzących działalność sportową. In: T. Czerwińska i A. Nowak (eds.), Rynek kapitałowy wobec wyzwań dekoniunktury. Warszawa: Wydawnictwo Naukowe Wydziału Zarządzania Uniwersytetu Warszawskiego. [Google Scholar]
  71. Majewski, S. (2014). Szacowanie wartości rynkowej piłkarskich kart zawodniczych przy wykorzystaniu modeli ekonometrycznych, ZN Nr 803, Finanse, Rynki Finansowe, Ubezpieczenia, 66: 663–674. [Google Scholar]
  72. Rosen, S. and Sanderson, A., (2000). Labor markets in professional sports. Economic Journal, 111: 47–68, http://dx.doi.org/10.1111/1468-0297.00598 [Google Scholar]
  73. Rottenberg, S. (1956). The Baseball Player’s Labor Market. Journal of Political Economy, 64(3): 242–258, http://dx.doi.org/10.1086/257790 [Google Scholar]
  74. Sloane, P. (2006). Rottenberg and the economics of sport after 50 years. In P. Rodriguez, S. Kesenne and J. Garcia (eds.), Sports Economics after 50 Years; Essays in Honour of Simon Rottenberg. Spain: University of Oviedo. [Google Scholar]
  75. Sloane, P. (1971). The economics of professional football. Scottish Journal of Political Economy, 18(2). Sloane, P. (2015). The economics of professional football revisited. Scottish Journal of Political Economy, 62(1), http://dx.doi.org/10.1111/sjpe.12063 [Google Scholar]
  76. Sznajder, J. (2007). Charakterystyka rynku sportu profesjonalnego. Gospodarka Narodowa, 10: 45–65. [Google Scholar]
  77. Szymanski, S. and Kuper, S. (2009). Soccernomics. Why England Loses, Why Germany and Brazil Win, and Why the US, Japan, Australia, Turkey and Even Iraq Are Destined to Become the Kings of the World’s Most Popular Sport. New York: Nation books. [Google Scholar]
  78. Trequattrini, R., Lombardi, R. and Nappo, F. (2012). The evaluation of the economic value of long lasting professional football player performance rights. WSEAS Transactions on Business and Economics, 4(9). [Google Scholar]
  79. Turnau, R., Clark, E. and Viney, H. (2005). An Option Pricing Framework for Valuation of Football Players. Review of Financial Economics, 14. [Google Scholar]
  80. Wicker, P., Prinz, J., Weimar, D., Deutcher, Ch. and Upmann, T. (2013). No Pain, No Gain? Effort and Productivity in Professional Soccer. International Journal of Sport Finance, 8.2 (May 2013): 124–139 [Google Scholar]

Kompletne metadane

Cytowanie zasobu

APA style

Majewski, Sebastian (2016). Majewski, S. . (2016). Identification of Factors Determining Market Value of the Most Valuable Football Players. Central European Management Journal, 24(3), 91-104. https://doi.org/10.7206/jmba.ce.2450-7814.177 (Original work published 2016)

MLA style

Majewski, Sebastian. Majewski, S. . „Identification Of Factors Determining Market Value Of The Most Valuable Football Players”. 2016. Central European Management Journal, t. 24, nr 3, 2016, ss. 91-104.

Chicago style

Majewski, Sebastian. Majewski, Sebastian . „Identification Of Factors Determining Market Value Of The Most Valuable Football Players”. Central European Management Journal, Central European Management Journal, 24, nr 3 (2016): 91-104. doi:10.7206/jmba.ce.2450-7814.177.

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