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| Type | Working Paper |
| Scope | Discipline-based scholarship |
| Title | A teoretical analysis of the influence of money injections on risk taking in Football Clubs |
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| Institution | University of Zurich. Institute for Strategy and Business Economics |
| Series Name | Working Paper Series |
| Number | 160 |
| ISSN | 1660-1157 |
| Number of Pages | 30 |
| Date | 2013 |
| Abstract Text | This paper analyzes the adverse incentive effects produced by money injections of benefactors (sugar daddies SD). We show that the existence of a SD induces the club to choose a riskier investment strategy and the more the SD commits to bailout the club, the more the clubs’ optimal level of riskiness increases. Moreover, a private SD bails out the club less often than a public SD. Our model further shows that a ”too-big-to-fail” phenomenon exists because it is optimal to always bailout a club if its market size is sufficiently large. |
| Other Identification Number | merlin-id:18201 |
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