APPLYING GREY RELATIONAL ANALYSIS TO ITALIAN FOOTBALL CLUBS: A MEASUREMENT OF THE FINANCIAL PERFORMANCE OF SERIE A TEAMS

Yıl 2016, Cilt: 4 Sayı: 4, 1 - 19, 14.05.2017

Sean Pradhan , Adem Boyukaslan Fatih Ecer

https://doi.org/10.18825/iremjournal.290668

Cited By: 10

Öz

Extant
literature on the financial analysis of football clubs has applied a vast array
of techniques in determining the fiscal stability of such entities. Although
many studies have provided useful comparisons and analyses of the states of
various clubs, direct research comparing the financial performance among
various clubs is still scant. Hence, we present an application of financial
ratio analysis to the greater Italian football market within the Serie A. The main
purpose of this study is to assess the financial performance of the top three
Italian football clubs currently listed on the Borsa Italiana (Italian Stock
Exchange), those being: Juventus F.C., A.S. Roma, and S.S. Lazio. In accomplishing
this, we offer a comparative analysis of these clubs through the usage of grey
relational analysis (GRA), an optimal performance technique derived from engineering.
Overall, our results suggest that S.S. Lazio appears to be the most financially
stable club among the sampled, publicly traded Serie A teams. In light of these
findings, this study furthers the application of economic evaluation into
larger segments of international football.    

Anahtar Kelimeler

Serie A, Italian football clubs, financial ratios, financial performance, grey relational analysis

Applying grey relational analysis to Italian football clubs: A measurement of the financial performance of Serie A teams

Öz

Extant
literature on the financial analysis of football clubs has applied a vast array
of techniques in determining the fiscal stability of such entities. Although
many studies have provided useful comparisons and analyses of the states of
various clubs, direct research comparing the financial performance among
various clubs is still scant. Hence, we present an application of financial
ratio analysis to the greater Italian football market within the Serie A. The main
purpose of this study is to assess the financial performance of the top three
Italian football clubs currently listed on the Borsa Italiana (Italian Stock
Exchange), those being: Juventus F.C., A.S. Roma, and S.S. Lazio. In accomplishing
this, we offer a comparative analysis of these clubs through the usage of grey
relational analysis (GRA), an optimal performance technique derived from engineering.
Overall, our results suggest that S.S. Lazio appears to be the most financially
stable club among the sampled, publicly traded Serie A teams. In light of these
findings, this study furthers the application of economic evaluation into
larger segments of international football.

Anahtar Kelimeler

Serie A, Italian football clubs, financial ratios, financial performance, grey relational analysis

Kaynakça

• A.S. Roma, 2016. History. [online] Available at: http://www.asroma.com/en/club/history.