Diskussionspapiere des Europäischen Instituts für Sozioökonomie e.V. No. 20
In analysis of Austrian elite sport, a distinction can be made between hierarchical and market organization. Following Williamson, the question of a superiority of governance form caused by the factor specificity of investments is being investi-gated. The results from an applied logit-loglinear model on data from survey with Austrian 'squad-athletes' show that apparently there exists no such superiority. Further investigation of data shows that these results appear to be caused by Aus-tria's "pre-conditions". In a hybrid form of organization like in Austria centraliza-tion might have exceeded the optimal extend and congruency of different products seem to be overemphasized.
new institutional economics asset specificity factor specificity of investments sports promotion sport governance