The effect of clubs’ bargaining power on football player’s transfer value
Denis Orlov ()
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Denis Orlov: Higher School of Economics, Perm, Russian Federation
Applied Econometrics, 2015, vol. 39, issue 3, 45-64
The paper employs data for the 2013–15 seasons to estimate the factors influencing the difference between the football players’ transfer and market value. Player transfer proneness to fully paid and zero transfer is modeled and three-stage Heckman procedure is applied to take account of sample selection bias. The main finding of the paper is the fact that the higher number of negotiating clubs leads to a higher gap in the dependent variable. The new proxy variable which reflects popularity of the player among the fans is introduced. It is also found out that buyers are using the risk-averse strategy when buying new players by trying to invest in more stable ones in the long-term.
Keywords: free transfer; Heckman procedure; sample selection bias (search for similar items in EconPapers)
JEL-codes: J31 J44 L83 (search for similar items in EconPapers)
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