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on Sports and Economics |
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Issue of 2015‒06‒05
three papers chosen by João Carlos Correia Leitão Universidade da Beira Interior |
| By: | Brad R. Humphreys (West Virginia University, College of Business and Economics); Adam Nowak (West Virginia University, College of Business and Economics) |
| Abstract: | Professional sports teams and facilities can generate negative or positive amenities to be capitalized into nearby property prices. We investigate the effect of the departure of a National Basketball Association team, the Seattle SuperSonics, from Key Arena in Seattle in 2008 on nearby residential property values. The arena continued to operate after the team left, so this departure represents a natural experiment to identify the net effects of a sports team from the effect of a facility and other events that take place in the facility. Results from a repeat sale regression model indicate that the departure of the SuperSonics was associated with excess appreciation of condo prices near Key Arena, suggesting that the team generated disamenities in this market. |
| Keywords: | repeat sales regression model, property values, professional sports |
| JEL: | R13 R58 H71 L83 |
| Date: | 2015–05 |
| URL: | http://d.repec.org/n?u=RePEc:wvu:wpaper:15-06&r=spo |
| By: | Bornah, Mathew |
| Abstract: | Until recently, most mega sports events were held by wealthy industrialised countries. Because of the high costs involved in the preparation of such projects, insufficiently developed sports and other infrastructure and the absence of appropriate legal basis, hosting such events was beyond the reach of developing countries. The beginning of the 21st century brought significant changes in this respect. On the one hand, countries with relatively weaker economies, aware of the benefits involved, submitted their bids more readily. On the other hand, institutions responsible for the selection of the host country began to promote less wealthy countries or those in the process of economic transformation, in order to provide a stimulus for development. Within less than a decade there have been a number of examples of sporting event hosts that confirmed the current trend, such as: Euro 2004 in Portugal, 2008 Olympic Games in Beijing, the decision concerning the staging of the FIFA World Cup in 2010 or, finally, Euro 2012 in Poland and Ukraine. The different approaches to stadium management adopted by the individual cities have been presented in this paper. In this respect particular importance was attached to the sources of income that will enable maintenance of these venues and pay off the enormous debt incurred by the cities in connection with their preparation. |
| Keywords: | Euro 2012, Football stadiums |
| JEL: | G38 |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:64688&r=spo |
| By: | Ferrir, Richard |
| Abstract: | The most significant value added by Euro 2012 is undoubtedly the infrastructural changes. The event became a catalyst for the execution of more than two hundred projects for an amount of ca. PLN 100 billion. This paper focuses on the key projects, including above all the road construction projects, as well as those connected to road and rail infrastructure. Considering such significant outlays, the funding the preparation, particularly in a division into private and public sources, becomes an especially important issue. It is the predominant commitment of public funds that creates the need to justify their allocation, chiefly in the case of the sports venues, usually utilised by private sports clubs after the end of the event. Euro 2012 has been compared in this respect with other events of this rank, staged in Europe since the beginning of the 21st century. |
| Keywords: | Euro 2012, Infrastructural investments, public goods |
| JEL: | H44 |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:64685&r=spo |