Aggregate wages of players and performance in Italian Serie A

Raul Caruso (), Marco Di Domizio and Domenico Rossignoli

Economia Politica: Journal of Analytical and Institutional Economics, 2017, vol. 34, issue 3, No 10, 515-531

Abstract: Abstract This paper investigates the relationship between players’ wages and sport performance in the Italian top professional football league—Serie A. The analysis focuses on 14 seasons from 2001/2002 to 2014/2015. Findings show that aggregate wage expenditure is a robust predictor of success for Italian professional football teams. We first exploited a fixed-effects panel data and eventually we addressed the problem of endogeneity by providing a dynamic IV specification of the model. Based on the System-GMM framework, we employed a model including lagged terms of dependent variables and covariates as instruments to control for endogeneity as well as alternative exogenous instruments to control for geographical/environmental factors and socio-economic factors that could be the actual predictors of performance through an indirect effect on payroll.

Keywords: Italian Serie A; Football; Talent; Wages; Sport performance (search for similar items in EconPapers)
JEL-codes: J49 L83 Z21 (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (5)

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Working Paper: Aggregate Wages Of Players and Performance in Italian Serie A (2016)
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DOI: 10.1007/s40888-017-0062-6

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