International Journal of Sport Finance, Volume 16, 2021, Issue 1

Nationality-Based Prejudice in Sports: Fan Demand for Foreign Athletes in the Czech
Vojtěch Kotrba

This paper aims to answer the question of whether fans discriminate against foreign athletes. It uses data from the fantasy sports environment. The sample consists of 11 rounds in the football competition in Czechia during the 2015–2016 season. A total of 8,036 people participated in the game, and they completed a total of 53,951 squads. The final dataset consists of 3,741 observations of a specific footballer in a single round. The results show that Czech fantasy sports users prefer domestic players. The influence of the players’ origin varies depending on the region they are from. The results show that Asian and Eastern European countries, namely Croatia, Serbia, and Slovakia, present a negative influence. On the other hand, Czechs prefer players from South America and Russia. In the case of African and Western European countries, the influence is insignificant in the models. Performance, however, influences the demand for athletes the most.

Fan Involvement and Unusual Investor Behavior: Evidence from a Football Fan Bond
Daniel Weimar and Alexander Fox

Sport clubs offer marginal substitutable services and thus achieve strong emotional ties with their customers and fans. If sport clubs need financial support from their fans via a bond, the behavior of these investors might differ from that of less tied-in bond investors. The degree of fan involvement might be a decisive factor. Therefore, we use survey data obtained during a football club bond issue. We find correlations suggesting that fan bond investors with a higher fan involvement have a higher probability of investing as well as a greater tendency toward unusual investment behavior. The results are of relevance to sport managers when planning the issue of a bond.

Uncertainty of Outcome and Attendance: Evidence from Russian Football
Kseniya Baydina, Petr Parshakov and Marina Zavertiaeva

In this study, we estimate an attendance demand model in a reduced form, with uncertainty as one of the determinants of demand, to test the uncertainty of outcome hypothesis (UOH). Data from the Russian Football Premier League (RFPL) are used. These data fit our requirements for two reasons. First, there are few sellout matches, so demand for tickets in the RFPL is not restricted by stadium capacity. Secondly, there have been no articles devoted to the study of outcome uncertainty in the RFPL. The results indicate that the UOH does not explain the behavioral pattern of attendees in the RFPL. The dependence between attendance and uncertainty is U-shaped. We observe some evidence that attendee’s utility in the RFPL depends more on seeing a home team win.

Corruption and Sponsor Value: An Event Study Analysis
Pritha Chakravarti and Felix Boronczyk

This study quantifies the negative effects of corruption on sponsors of the Indian Premier League (IPL) and presents unbiased sponsor-linked outcomes as its results. The event study methodology was used for the purpose of measuring the reaction of the Indian shareholders to the unexpected event that was the decision of the Supreme Court of India to ban two teams and several officials from cricketing affairs for life in response to the discovery of corruption. The results of this study show there is an immediate loss in firm value for sponsors that are linked to events and teams proved to be corrupt. The negative effects are larger for firms that are event sponsors, as compared to team sponsors. Some sponsors of non-corrupt teams also suffered damage due to the announcement of the Court; however, this effect was short-lived and wore off relatively quickly.

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