000121332 001__ 121332
000121332 005__ 20240731103311.0
000121332 0247_ $$2doi$$a10.3390/ijfs11010003
000121332 0248_ $$2sideral$$a132125
000121332 037__ $$aART-2023-132125
000121332 041__ $$aeng
000121332 100__ $$0(orcid)0000-0002-1851-796X$$aUrdaneta-Camacho, R.$$uUniversidad de Zaragoza
000121332 245__ $$aThe other side of the “League of Stars”: Analysis of the financial situation of Spanish football
000121332 260__ $$c2023
000121332 5060_ $$aAccess copy available to the general public$$fUnrestricted
000121332 5203_ $$aThis paper analyses the effectiveness of the financial control system implemented by the Spanish professional football League in 2015 as a tool to improve the governance of clubs in the first and second divisions as well as its probable impact on competition. Classic financial ratios are used to analyse the financial situation of the clubs both before and after the implementation of the Regulation, as well as during the first season affected by the COVID-19 pandemic. Next, the Herfindahl index is calculated to measure the concentration in the distribution of the main funding sources and is incorporated as a dependent variable in a regression model. Although a cause–effect relationship is not certain, the results suggest that the economic control measures imposed by LFP have contributed to improving the financial situation of Spanish football in the short term, but may promote imbalances between clubs that undermine the sustainability of the current management model and, therefore, of the competition system. Unlike in other sectors, the football business requires more competition to maximise profits. In this context, it would be advisable to reach agreements between clubs to weaken the bargaining position of footballers. The paper shows the effect of the intervention of a regulatory body, in this case, LFP, in the functioning of a competitive market.
000121332 536__ $$9info:eu-repo/grantAgreement/ES/AEI/PID2020-113905GB-I00$$9nfo:eu-repo/grantAgreement/ES/DGA-FEDER/S56-20R
000121332 540__ $$9info:eu-repo/semantics/openAccess$$aby$$uhttp://creativecommons.org/licenses/by/3.0/es/
000121332 592__ $$a0.434$$b2023
000121332 593__ $$aFinance$$c2023$$dQ2
000121332 594__ $$a3.7$$b2023
000121332 655_4 $$ainfo:eu-repo/semantics/article$$vinfo:eu-repo/semantics/publishedVersion
000121332 700__ $$0(orcid)0000-0002-1215-7916$$aGuevara-Pérez, J. C.$$uUniversidad de Zaragoza
000121332 700__ $$0(orcid)0000-0003-4315-0642$$aMartín Vallespín, E.$$uUniversidad de Zaragoza
000121332 700__ $$aLe Clech, N.
000121332 7102_ $$14002$$2230$$aUniversidad de Zaragoza$$bDpto. Contabilidad y Finanzas$$cÁrea Economía Finan. y Contab.
000121332 773__ $$g11, 1 (2023), 3 [18 pp.]$$tInternational Journal of Financial Studies$$x2227-7072
000121332 8564_ $$s356819$$uhttps://zaguan.unizar.es/record/121332/files/texto_completo.pdf$$yVersión publicada
000121332 8564_ $$s2736159$$uhttps://zaguan.unizar.es/record/121332/files/texto_completo.jpg?subformat=icon$$xicon$$yVersión publicada
000121332 909CO $$ooai:zaguan.unizar.es:121332$$particulos$$pdriver
000121332 951__ $$a2024-07-31-09:39:31
000121332 980__ $$aARTICLE