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on Sports and Economics |
| By: | Donato Masciandaro; Ariela Caglio; Sébastien Laffitte; Gianmarco Ottaviano |
| Abstract: | In 2011 UEFA, the governing body of European football, introduced the Financial Fair Play Regulation (FFPR), consisting of a set of financial restraints to be met by clubs as a prerequisite for participation to its competitions. The aim of the FFPR was to introduce financial discipline into the clubs’ decision making processes, and ultimately protect the longterm viability of the European football industry. The reform was criticized because of possible unintended detrimental consequences. In particular, Peeters and Szymanski 2014 provided a model-based ex-ante simulation analysis showing that the reform would increase the profitability of clubs, but also tilt the competitive balance in favor of the top teams, thus reducing the interest of fans and investors as one of the main attractions in sports is precisely that the best team does not always win. Exploiting an original dataset between the seasons 2007-2008 and 2019-2020, we provide an ex-post econometric evaluation of the effects of the introduction of the FFPR revealing causal evidence that largely vindicates those ex-ante predictions. |
| Keywords: | accounting measurement, Financial fair play (FFP), financial sustainability, team’s quality, competitive balance. |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:baf:cbafwp:cbafwp22189&r=spo |
| By: | Buser, Thomas (University of Amsterdam); Oosterbeek, Hessel (University of Amsterdam) |
| Abstract: | A large empirical literature in behavioral economics investigates heterogeneity across individuals and groups in preferences for competition. In this study, we provide a more detailed view on competitiveness by differentiating between four different motivations for entering competitions – enjoyment of competition, desire to win, competition for personal development, and general challenge seeking. We investigate which of these dimensions are picked up by traditional measures of competitiveness; how they predict individual and gender differences in career outcomes including income, holding a leadership position, and entrepreneurship; how they predict wellbeing; and how they relate to other personality traits, skills, and preferences. |
| Keywords: | competitiveness, personality traits, labor market outcomes, leadership, gender |
| JEL: | C92 D91 J24 |
| Date: | 2023–06 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp16224&r=spo |