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Make or buy? Human capital accumulation strategies in European club football

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  • Yusuf Emre Akgunduz

    ()

  • Marcel van den Berg

    ()

Abstract

When it comes to discussing club football emotions tend to get heated quite easily across the globe. This heterogeneity in likes and dislikes is not only reflected in name or financial possibilities, but also in the clubs approach to building a team. We analyze whether clubs' strategies regarding buying or cultivating players have a discernable effect on their success on the pitch. For the analysis we employ match level data covering five seasons of play in top-flight Dutch and English club football leagues. The results suggest that players' tenure has a positive and significant effect on the probability of winning, but only in the English Premier League. The positive effect we find for the Premier League aligns with theories of firm specific human capital. We hypothesize the lack of significant effects in the Dutch league to be tied to clubs' inability to keep successful players with the club or buy replacements of equal quality on the transfer market, because the club-specific human capital component takes time to accumulate.

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Bibliographic Info

Paper provided by Utrecht School of Economics in its series Working Papers with number 13-17.

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Length: 16 pages
Date of creation: Dec 2013
Date of revision:
Handle: RePEc:use:tkiwps:1317

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Keywords: Football; human capital; tenure; winning probability;

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  1. repec:fth:geneec:00.04 is not listed on IDEAS
  2. Bruinshoofd, Allard & ter Weel, Bas, 2003. "Manager to go? Performance dips reconsidered with evidence from Dutch football," European Journal of Operational Research, Elsevier, vol. 148(2), pages 233-246, July.
  3. Christian Dustmann & Costas Meghir, 2001. "Wages, experience and seniority," IFS Working Papers W01/01, Institute for Fiscal Studies.
  4. Jean-Marc Falter & Christophe Perignon, 2000. "Demand for football and intramatch winning probability: an essay on the glorious uncertainty of sports," Applied Economics, Taylor & Francis Journals, vol. 32(13), pages 1757-1765.
  5. Benno Torgler, 2004. "The Economics of the FIFA Football Worldcup," Kyklos, Wiley Blackwell, vol. 57(2), pages 287-300, 05.
  6. Gary S. Becker, 1962. "Investment in Human Capital: A Theoretical Analysis," Journal of Political Economy, University of Chicago Press, vol. 70, pages 9.
  7. Cahuc, Pierre & Postel-Vinay, Fabien, 2001. "Temporary Jobs, Employment Protection and Labor Market Performance," IZA Discussion Papers 260, Institute for the Study of Labor (IZA).
  8. Saumik Paul & Ronita Mitra, 2008. "How predictable are the FIFA worldcup football outcomes? An empirical analysis," Applied Economics Letters, Taylor & Francis Journals, vol. 15(15), pages 1171-1176.
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