nep-cul New Economics Papers
on Cultural Economics
Issue of 2022‒06‒13
one paper chosen by
Roberto Zanola
Università degli Studi del Piemonte Orientale

  1. The relationship between financial and sporting performance of professional football clubs: empirical evidence from brazilian football By Thomas Cristofaro Warrener; Carlos Eduardo da Gama Torres; Igor Viveiros Melo Souza

  1. By: Thomas Cristofaro Warrener (PPEA/UFOP); Carlos Eduardo da Gama Torres (PPEA/UFOP); Igor Viveiros Melo Souza (Cedeplar/UFMG)
    Abstract: The aim of this research is to investigate the relationship between sports and financial performance of Brazilian football clubs. Using data extracted from the Itaú-BBA reports (2015, 2016, 2018 and 2020), and from the Brazilian Football Association team performance rankings it was possible to calculate financial and sporting performances of twenty-six Brazilian football clubs for the period between 2013 to 2019. The results presented in this paper indicate that sports performance has a positive effect on the financial results of Brazilian football clubs, and that the financial result exerts a positive influence on sports performance.
    Keywords: Sports economics, football industry, sports performance, financial performance, simultaneous equations modelling
    JEL: G32 L21 L25 L83 Z23
    Date: 2022–05

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