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Using Grey Relational Analysis to Determine the Financial Performance of Turkish Football Clubs

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  • Sakınç, İlker

Abstract

Football has become an important industry in Turkey. A huge amount of sponsoring, advertising, betting funds into football and television rights are sold for billions of Turkish Liras. In order to better compete in Turkish leagues, football clubs have made considerable investments and have aspired to be listed on the stock exchange. The pioneer was Beşiktaş that went public in 2002. After that three football clubs were listed on Borsa Istanbul (BIST). The aim of this study is to evaluate the financial performance of four big football clubs (Beşiktaş, Fenerbahçe, Galatasaray and Trabzonspor) listed on BIST from 2009-2010 to 2012-2013. In order to evaluate these clubs, Grey Relational Analysis (GRA) is used. GRA is widely used in various disciplines such as economics, engineering, sociology and finance. It can be used as a rating, classification and decision making technique to determine the important factors among those required for a system with a limited number of data set.

Suggested Citation

  • Sakınç, İlker, 2014. "Using Grey Relational Analysis to Determine the Financial Performance of Turkish Football Clubs," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 1(1), pages 22-33.
    • Handle: RePEc:zbw:espost:108381
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    References listed on IDEAS

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    Cited by:

    1. Omondi-Ochieng, Peter, 2019. "Financial performance trends of United States Hockey Inc: a resource-dependency approach," Journal of Economics, Finance and Administrative Science, Universidad ESAN, vol. 24(48), pages 327-344.

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    More about this item

    Keywords

    Grey Relational Analysis; Financial Performance; Turkish Football;
    All these keywords.

    JEL classification:

    • G1 - Financial Economics - - General Financial Markets
    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism

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