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Wieviel Phantasie braucht die Fußballaktie?


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  • Lehmann, Erik
  • Weigand, Jürgen
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    Nach dem Vorbild börsennotierter britischer Vereine wird es auch deutschen Profifußballvereinen in absehbarer Zukunft möglich sein, sich in Aktiengesellschaften umzuwandeln. Der anschließende Börsengang soll dann den nach den jüngsten Entwicklungen im Profifußballbereich gestiegenen Kapitalbedarf abdecken und eine im internationalen Vergleich konkurrenzfähige wirtschaftliche Basis schaffen. Eine empirische Untersuchung der Kursentwicklung der börsennotierten englischen Proficlubs zeigt, daß Vereine und potentielle Anleger vor übertriebenen positiven Erwartungen zu warnen sind. Die Erfolgsaussichten eines Börsengangs sind nur für wenige deutsche Spitzenvereine als positiv zu beurteilen. --

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    Bibliographic Info

    Paper provided by University of Rostock, Institute of Economics in its series Thuenen-Series of Applied Economic Theory with number 16.

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    Date of creation: 1998
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    Handle: RePEc:zbw:roswps:16

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    Related research

    Keywords: Initial Public Offering; Fußball; Sportökonomie;

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    1. Whitney, James D, 1993. "Bidding Till Bankrupt: Destructive Competition in Professional Team Sports," Economic Inquiry, Western Economic Association International, Western Economic Association International, vol. 31(1), pages 100-115, January.
    2. Allen, Franklin & Faulhaber, Gerald R., 1989. "Signalling by underpricing in the IPO market," Journal of Financial Economics, Elsevier, Elsevier, vol. 23(2), pages 303-323, August.
    3. Rock, Kevin, 1986. "Why new issues are underpriced," Journal of Financial Economics, Elsevier, Elsevier, vol. 15(1-2), pages 187-212.
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    Cited by:
    1. Georg Stadtmann, 2006. "Frequent News and Pure Signals: The Case of a Publicly Traded Football Club," Working Papers, International Association of Sports Economists;North American Association of Sports Economists 0603, International Association of Sports Economists;North American Association of Sports Economists.


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