Insolvency in French Soccer: The Case of Payment Failure

Scelles, Nicolas, Szymanski, S and Dermit-Richard, N (2018) Insolvency in French Soccer: The Case of Payment Failure. Journal of Sports Economics, 19 (5). pp. 603-624. ISSN 1527-0025

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Abstract

This article examines insolvency (payment failure) in the top three divisions of French soccer. Between 1970 and 2014, we observed 79 cases of insolvency arising from participation in the top two or three (since 1993) divisions. We find that demand (attendance) shocks can account for insolvency to a significant degree. We also find that insolvency can be explained by club status and ownership structure, with professional status and the association structure being more likely to lead to insolvency. We also examine the postinsolvency performance of soccer clubs and find that the adverse consequences of insolvency are long lasting.

Item Type:	Article
Peer-reviewed:	Yes
Date Deposited:	11 Jan 2018 15:10
Publisher:	SAGE Publications
Additional Information:	This is an Author Accepted Manuscript of a paper accepted for publication in Journal of Sports Economics, published by SAGE Publications and copyright The Authors.
Divisions:	Faculties > Business and Law Research Centres > Future Economies
Subject terms:	Social Sciences, Economics, Hospitality, Leisure, Sport & Tourism, Business & Economics, Social Sciences - Other Topics, insolvency, payment failure, French soccer, attendance, demand shocks, club status, ownership, SPANISH FOOTBALL, CRISIS, CLUBS, 1499 Other Economics, 1504 Commercial Services
URI:	https://e-space.mmu.ac.uk/id/eprint/619778
DOI:	https://doi.org/10.1177/1527002516674510
ISSN	1527-0025

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