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| Author: | McMaster, R. |
| Title: | The market for corporate control in professional football: Is there an agency problem? |
| Journal: | Economic Affairs
1997 : SEP, VOL. 17:3, p. 25-29 |
| Index terms: | FOOTBALL MARKETS COMPANY CONTROL AGENCIES UNITED KINGDOM |
| Language: | eng |
| Abstract: | This article considers the nature of agency problems in professional football in the UK, specifically the contention that an inadequate market for corporate control has germinated and prolonged agency problems. The article endeavours to identify and conjecture on the nature of agency problems in professional football. It speculates that conflicting elements within director-owners' objective functions combined with highly concentrated property rights are the sources of inefficiency, and contribute to the adverse financial performance of clubs. Efficiency may be enhanced through wider share ownership. |
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