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Regular version of the site

Article

Does the Agency Theory play football?

Universia Business Review. 2017. No. 53. P. 18-59.
Sánchez L. C., Sánchez- Fernández P., Barajas A.

This paper aims to analyze how ownership influences the performance of European football teams. The study of efficiency allows us to identify relative performance in the achievement of several objectives, as is the case of football teams pursuing both financial performance and sports success. The analysis shows that football teams organized as members clubs, with dispersed ownership and uncontrolled by foreign investors perform better. Thus, property structures facilitating less control over managers relate positively to performance.