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| Author: | Franck, E. Müller, J. C. |
| Title: | Kapitalgesellschaften im bezahlten Fussball |
| Journal: | Zeitschrift für Betriebswirtschaft
1998 : ERGÄNZUNGSHEFT 2/98, p. 121-141 |
| Index terms: | PRIVATE COMPANIES CLUBS CHANGE PROPERTY RIGHTS GERMANY |
| Language: | ger |
| Abstract: | The continual discussion of institutional changes in German association football is fueled by a number of recent structual developments. From an economic perspective, the rules of incorporation for football teams as clubs (Vereine) clearly provide insufficient incentives for club managers and principals (Mitglieder). Therefore, the transformation of clubs into private companies is recommended. In sports leagues, clubs are engaged in 'rat races' aiming at top rank revenues. Reasons for participation in such ruinous races are incomplete information of decision makers about their 'natural' technology based rank, the absence of profit maximizing behaviour, the exposition of individual rationalization to distortions from the large top rank 'jackpots' and lock-in situations (entrapment games). |
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