The Impact of Corporate Governance on Financial Performance in Professional Sports Clubs: The Case of Italian Serie A
- Alberto Manzari
- Riccardo Savio
- Marika Marandola
Abstract
This paper explores professional football clubs' corporate governance challenges, recognizing them as symptoms of a deeper management crisis. The need for more effective managerial practices within these organizations is evident in the prevailing issues. This study aims to assess how corporate governance quality impacts the profitability and sustainability of Italian Serie A football clubs. Through the analysis of governance variables and financial indicators from the 2018/2019 season, the research identifies crucial factors. These factors encompass the business model, board composition, board age, control bodies, and internal procedure transparency. The results highlight the significant influence of corporate governance variables on club performance and insolvency risk. Enhanced governance quality is associated with higher profitability and viability, even among clubs facing financial difficulties. These findings hold significance for academics, practitioners, and regulators interested in understanding corporate governance practices within the competitive soccer market and their impact on financial performance. Future research should expand the sample and incorporate a comparative analysis of major European football leagues, accounting for varying legal frameworks. Moreover, the repercussions of the COVID-19 pandemic on the football industry must be considered in forthcoming investigations. The pandemic's financial consequences will likely differ based on each club's business model, international reputation, financial structure, and governance approach.
- Full Text:
PDF
- DOI:10.5539/ijbm.v19n1p173
Journal Metrics
Google-based Impact Factor (2023): 0.86
h-index(2023): 152
i10-index(2023): 1168
Index
- Academic Journals Database
- ACNP
- AIDEA list (Italian Academy of Business Administration)
- ANVUR (Italian National Agency for the Evaluation of Universities and Research Institutes)
- Berkeley Library
- CNKI Scholar
- COPAC
- EBSCOhost
- Electronic Journals Library
- Elektronische Zeitschriftenbibliothek (EZB)
- EuroPub Database
- Excellence in Research for Australia (ERA)
- Genamics JournalSeek
- GETIT@YALE (Yale University Library)
- IBZ Online
- JournalTOCs
- Library and Archives Canada
- LOCKSS
- MIAR
- National Library of Australia
- Norwegian Centre for Research Data (NSD)
- PKP Open Archives Harvester
- Publons
- Qualis/CAPES
- RePEc
- ROAD
- Scilit
- SHERPA/RoMEO
- Standard Periodical Directory
- Universe Digital Library
- UoS Library
- WorldCat
- ZBW-German National Library of Economics
Contact
- Stephen LeeEditorial Assistant
- ijbm@ccsenet.org