Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/71874
Authors: 
Oberhofer, Harald
Philippovich, Tassilo
Winner, Hannes
Year of Publication: 
2010
Series/Report no.: 
Working Papers in Economics and Finance, University of Salzburg 2010-16
Abstract: 
This paper investigates firm survival in professional football, arguing that the relegation and promotion system in football leagues is very similar to firm exits and entries in traditional goods and service markets. Empirically, we use a dataset containing information on how long football teams have participated in the German Premier League over the playing seasons 1981-82 to 2009-10. Controlling for club and market specific characteristics, such as a team's budget or its player composition, our findings suggest that younger firms are systematically exposed to higher risks of market exit in professional football, which is often referred to as `liability of newness' in organizational ecology.
Subjects: 
Firm survival
liability of newness
duration analysis
sports leagues
relegation
JEL: 
C41
L21
L25
L83
Document Type: 
Working Paper

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