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Outcome Uncertainty, Governance Structure, and Attendance: A Study of the Korean Professional Football League

Author

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  • Young Hoon Lee

    () (Department of Economics, Sogang University, Seoul)

  • Hayley Jang

    () (Department of Economics, Sogang University, Seoul)

Abstract

In this study, we comprehensively analyzed the attendance determinants of the Korean Professional Football League (K-League) using panel data from 15 individual teams during the 1987?2011 seasons. The K-League has some unique characteristics that other leagues, particularly those in North America and Europe, do not possess. The governance structure is heterogeneous, including both multiple-supporter-owned and major-corporation-owned teams. Additionally, the regulation authority shifted over the time period studied from broadly regional to city based. The results of this study suggested that the home-and-away match system with a host city attracted greater attendance than the system with multiple host cities, and the supporter-owned teams attracted more fans than did large-company-owned clubs when other attendance determinants were held constant. Outcome uncertainty for attendance determination was significant, not only statistically but also economically.

Suggested Citation

  • Young Hoon Lee & Hayley Jang, 2014. "Outcome Uncertainty, Governance Structure, and Attendance: A Study of the Korean Professional Football League," Working Papers 1401, Research Institute for Market Economy, Sogang University.
  • Handle: RePEc:sgo:wpaper:1401
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