Futbolcu Transferlerinin Finansal Performans Üzerindeki Etkisi: STOXX Avrupa Futbol Endeksi’ nde Bir Araştırma

Year 2023, Volume: 10 Issue: 1, 1 - 22, 02.01.2023

Binali Selman Eren , Sevinç Güler Özçalık

https://doi.org/10.17541/optimum.1124718

Abstract

Bu çalışmanın temel amacı emek faktörünün etkisinin yoğun bir şekilde hissedildiği profesyonel futbol endüstrinde finansal performansı ölçmeye çalışmaktır. Bu kapsamda çalışmada STOXX Avrupa Futbol Endeksinde yer alan 13 futbol kulübünün transfer gelirlerinin ve giderlerinin finansal performansa olan etkisi panel veri analizi yöntemi ile analiz edilmiştir. Bu doğrultuda 2004-2022 yılları arasındaki transfer gelir/giderleri ve muhasebe bazlı finansal performans göstergesi olarak varlık karlılığı (ROA), öz kaynak karlılığı (ROE) ve faiz ve vergi öncesi kar marjı (FAVÖK) dikkate alınarak üç model oluşturulmuştur. Elde edilen bulgulara göre transfer giderleri değişkeni, ROA ve FAVÖK modellerinde istatistiksel olarak anlamlı bir sonuç verirken, ikinci model olan ROE’ de ise bu sonuca ulaşılamamıştır. Çalışmada ayrıca futbol kulüplerinin faaliyet gösterdikleri ulusal liglerinde şampiyon olma durumlarının finansal performansı olumlu yönde etkilediği gözlemlenmiştir.

Keywords

Finansal Performans, Futbol Endüstrisi, Panel Veri Analizi

The Impact of Football Player Transfers on Financial Performance: A Research on STOXX European Football Index

Abstract

The main purpose of this study is to try to measure financial performance in the professional football industry, where the effect of the labor factor is heavily felt. In this context, the impact of the transfer revenues and expenses of 13 football clubs in the Stoxx European Football Index on financial performance is analyzed by panel data method. In this respect, three models are created considering the transfer income/expenses and accounting-based financial performance indicators such as return on assets (ROA), return on equity (ROE) and profit margin before interest and tax (EBITDA) between 2004-2022. According to the findings, the transfer expenses variable gave a statistically significant result in ROS and EBITDA models, while the second model, ROE, this result could not be achieved. In the study, it is observed that the fact that the championship in the national leagues, where football clubs operates, has a positive effect on the impact of financial performance.

Keywords

Financial Performance, Football Industry, Panel Data Analysis

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