Capital structure of Iberian football clubs: does sport performance matter?

dc.contributor.authorPacheco, Luís Miguel
dc.date.accessioned2023-01-25T14:18:20Z
dc.date.available2023-01-25T14:18:20Z
dc.date.issued2023-01-27
dc.description.abstractThe main objective of this paper is to study the capital structure determinants of the major Spanish and Portuguese football clubs, in particular the impact of their sport performance on leverage. Football clubs were chosen because of their public relevance and also because the sector’s capital structure has hardly been studied, in particular in the Iberian Peninsula. The obtained results could be useful to football clubs’ managers, particularly in regard to their capital structure management. Using panel data methodology and considering a sample of 32 football clubs organised as public limited sports companies, we study the capital structure determinants between 2010 and 2015, adding a set of sport performance variables. The results suggest that size, total liquidity and asset intangibility are key factors affecting the capital structure and that pecking order theory seems more suited to those companies, whereas sport performance variables are irrelevant.pt_PT
dc.identifier.citationPacheco, L. M. (2023). Capital structure of Iberian football clubs: does sport performance matter? International Journal of Sport Management and Marketing, 22(5/6), 336-360. Repositório Institucional UPT. http://hdl.handle.net/11328/4663pt_PT
dc.identifier.issn1475-8962 (Print)
dc.identifier.issn1740-2808 (Electronic)
dc.identifier.urihttp://hdl.handle.net/11328/4663
dc.language.isoengpt_PT
dc.peerreviewedyespt_PT
dc.publisherInderscience Enterprises Ltd.pt_PT
dc.rightsrestricted accesspt_PT
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/pt_PT
dc.subjectCapital structurept_PT
dc.subjectProfessional football clubspt_PT
dc.subjectPublic limited sports companiespt_PT
dc.subjectPanel data estimationpt_PT
dc.titleCapital structure of Iberian football clubs: does sport performance matter?pt_PT
dc.typejournal articlept_PT
degois.publication.firstPage336pt_PT
degois.publication.issue5/6pt_PT
degois.publication.lastPage360pt_PT
degois.publication.titleInternational Journal of Sport Management and Marketingpt_PT
degois.publication.volume22pt_PT
dspace.entity.typePublicationen
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