Findings and Discussions

This study has been conducted on conceptual based because of low availability of data and time. Its second reason is the data of the study is not easy accessible due to the non public foot ball clubs. These clubs do not maintain their records accurately because these are not registered organization in Europe. Following is the table given as follow that would explain the answers of the research questions as well.

 

 

Conceptual Table of Previous Researches

 

 Were all foot ball clubs profit maximizes before the flotation?

Sr. No.

Researcher Name

Research Study

Relationship/Status

1

(Nagy, 2012)

Modern Forms of Business in Professional Football

Yes

2

(Vamplew, 2007)

Playing with the Rules: Influences on the Development of Regulation in Sport

No

3

(Hamil and Chadwick, 2010)

Managing Football: An International Perspective

No

4

(Frick and Simmons, 2008)

The impact of managerial quality on organizational performance

No

 

Overall Status

 

No

 

 

 

 

Does the accounting profit give the poor indication regarding economic profit?

1

(Kesenne, 1996)

League management in professional team sports with win maximising clubs

Yes

2

(Wilson, Plumley and Ramchandani, 2013)

The relationship between ownership structure and club performance in the English Premier League

Yes

3

(Senaux, 2008)

A stakeholder approach to football club governance

No

4

(Hirai and Kawashima, 2009)

The Impact of Revenue Sharing on Club Objectives in Professional Sports

Yes

 

Overall Status

 

Yes

 

 

 

 

To what extent financial performance is likely to affect the profitability potential

1

(UEFA, 2010)

Financial fair play explained

Is Likely

2

(Sloane, 2012)

The Economics of Professional Football: The Football ClubUtility Maximizer

Is Likely

3

(Garland, Malcolm and Rowe, 2013)

The Future of Football: Challenges for the Twenty-first Century

Not Likely

4

(Késenne, 2000)

Revenue Sharing and Competitive Balance in Professional Team Sports

Is Likely

 

Overall Status

 

Is Likely

 

 

 

 

 Do the post flotation accounts of PLC are including the data of group business activities?

1

Morris and Goldsworthy, 2011

PR Today: The Authoritative Guide to Public Relations

No

2

(Rodríguez, Késenne and García, 2006)

Sports Economics After Fifty Years: Essays in Honour of Simon Rottenberg,

Yes

3

(Holik, 2013)

Handbook of Paper and Board

No

4

(Mitchell, 2013).

History of English Football Clubs

No

 

Overall Status

 

No

 

 

 

 

What is the relationship between Clubs league performance and the stock flotation?

1

(Elser, 2014)

Aston Villa Owner Lerner Plans to Sell Premier League Club

Positive

2

(Jonathan and Oughto, 2005)

The corporate governance of professional football clubs in England." corporate governance

Negative

3

(Benoit, 2008)

A stakeholder approach to football club governance

Negative

4

Hamil, S. and Chadwick, S. (2010)

Managing Football: An International Perspective

Positive

 

Overall Status

 

Moderate

 

Description of the above table

Research Q. 1             Did all of the foot ball clubs were profit maximizes before the flotation, so that the stock market entry did not lead to the change in behaviors

Four researches studies have been found to answer the question one of this study. According to previous four research studies, the three studies are responding against our question. Out of three studies are no answer and one was in the favor of this study according to this question. The three studies are of the viewpoint that all the football clubs are not profit maximize before flotation. They are of the view that if one organization goes toward the stock market and issue its shares it would not affect the behaviors of the investors.  According to one, study that when these clubs move toward stock market then these clubs value increase and they get more profit as well.  Therefore, this study will support the three studies. It is said that the clubs’ profits do not increase due to indulge in the stock market.

Research Q. 2             Does the accounting profit give the poor indication regarding economic profit? So that the figures gained will not truly exhibit any change in to the economic performance

For this question answering, the four studies have been studies and selected for supporting our question. Three studies are in favor of this question and gave their view point that there accounting profits have drawbacks due to which these profits are not satisfied and according to the requirement of the shareholders. They are of the viewpoint that these clubs are not registered in stock markets due to which these do not follow the rules and regulations of Securities and Exchange Commission also while preparing their financial data. They say that clubs show low income due to reduction in their tax amount. They also are of the viewpoint that managers of these clubs also embezzle the amount of profit while not informing to their owners of these clubs also. One research went against this study and they said that there is not poor accounting profit they cannot do so because they show more profits to influence others to take into consideration their club. They say that these clubs make fools to others in order to be the part of this club as well. Therefore, this study will also suggest that there is poor presentation of financial statements and facts about profits and other things are hidden.  This trend is mostly used in Europe because in America these clubs are registered.

Findings and Discussions This study has been conducted on conceptual based because of low availability of data and time. Its second reason is the data of the study is not easy accessible due to the non public foot ball clubs. These clubs do not maintain their records accurately because these are not registered organization in Europe. Following is the table given as follow that would explain the answers of the research questions as well.     Conceptual Table of Previous Researches   Were all foot ball clubs profit maximizes before the flotation? Sr. No. Researcher Name Research Study Relationship/Status 1 (Nagy, 2012) Modern Forms of Business in Professional Football Yes 2 (Vamplew, 2007) Playing with the Rules: Influences on the Development of Regulation in Sport No 3 (Hamil and Chadwick, 2010) Managing Football: An International Perspective No 4 (Frick and Simmons, 2008) The impact of managerial quality on organizational performance No   Overall Status   No         Does the accounting profit give the poor indication regarding economic profit? 1 (Kesenne, 1996) League management in professional team sports with win maximising clubs Yes 2 (Wilson, Plumley and Ramchandani, 2013) The relationship between ownership structure and club performance in the English Premier League Yes 3 (Senaux, 2008) A stakeholder approach to football club governance No 4 (Hirai and Kawashima, 2009) The Impact of Revenue Sharing on Club Objectives in Professional Sports Yes   Overall Status   Yes         To what extent financial performance is likely to affect the profitability potential 1 (UEFA, 2010) Financial fair play explained Is Likely 2 (Sloane, 2012) The Economics of Professional Football: The Football ClubUtility MaximizerIs Likely 3 (Garland, Malcolm and Rowe, 2013) The Future of Football: Challenges for the Twenty-first Century Not Likely 4 (Késenne, 2000) Revenue Sharing and Competitive Balance in Professional Team Sports Is Likely   Overall Status   Is Likely         Do the post flotation accounts of PLC are including the data of group business activities?1 Morris and Goldsworthy, 2011 PR Today: The Authoritative Guide to Public Relations No 2 (Rodríguez, Késenne and García, 2006) Sports Economics After Fifty Years: Essays in Honour of Simon Rottenberg, Yes 3 (Holik, 2013) Handbook of Paper and Board No 4 (Mitchell, 2013). History of English Football Clubs No   Overall Status   No         What is the relationship between Clubs league performance and the stock flotation? 1 (Elser, 2014) Aston Villa Owner Lerner Plans to Sell Premier League Club Positive 2 (Jonathan and Oughto, 2005) The corporate governance of professional football clubs in England." corporate governance Negative 3 (Benoit, 2008) A stakeholder approach to football club governance Negative 4 Hamil, S. and Chadwick, S. (2010) Managing Football: An International Perspective Positive   Overall Status   Moderate Description of the above table Research Q. 1Did all of the foot ball clubs were profit maximizes before the flotation, so that the stock market entry did not lead to the change in behaviors Four researches studies have been found to answer the question one of this study. According to previous four research studies, the three studies are responding against our question. Out of three studies are no answer and one was in the favor of this study according to this question. The three studies are of the viewpoint that all the football clubs are not profit maximize before flotation. They are of the view that if one organization goes toward the stock market and issue its shares it would not affect the behaviors of the investors. According to one, study that when these clubs move toward stock market then these clubs value increase and they get more profit as well. Therefore, this study will support the three studies. It is said that the clubs’ profits do not increase due to indulge in the stock market. Research Q. 2Does the accounting profit give the poor indication regarding economic profit? So that the figures gained will not truly exhibit any change in to the economic performance For this question answering, the four studies have been studies and selected for supporting our question. Three studies are in favor of this question and gave their view point that there accounting profits have drawbacks due to which these profits are not satisfied and according to the requirement of the shareholders. They are of the viewpoint that these clubs are not registered in stock markets due to which these do not follow the rules and regulations of Securities and Exchange Commission also while preparing their financial data. They say that clubs show low income due to reduction in their tax amount. They also are of the viewpoint that managers of these clubs also embezzle the amount of profit while not informing to their owners of these clubs also. One research went against this study and they said that there is not poor accounting profit they cannot do so because they show more profits to influence others to take into consideration their club. They say that these clubs make fools to others in order to be the part of this club as well. Therefore, this study will also suggest that there is poor presentation of financial statements and facts about profits and other things are hidden. This trend is mostly used in Europe because in America these clubs are registered. Research Q. 3To what extent financial performance is likely to affect the profitability potential of the football clubs. Four studies have been selected and used for this research for the support of this research question. The researchers have said that there is chance of financial performance may take the effect of future expected profitability of the football clubs. They are of the view point that when organization is looking new investment opportunity it may expect to increase its financial performance and make the financial performance of the firm more prosperous. All those clubs that have ability to invest in those opportunities that are expected to grow very rapidly. One researcher is in against of it. He has the viewpoint that expected profitability is not necessary for financial performance increment because it varies organization to organization. He says that the opportunity that you are looking may not bring more profit and may move toward loss than the profit. Therefore, this study suggested that the firm performance will boost due to near expected potential profitability of the club. Research Q. 4Do the post flotation accounts of PLC are including the data related to the group business activities, which are likely to extend beyond football clubs that are not comparable to the pre flotation data. Four different studies have also been found and inserted in the table above the three researchers have given their viewpoint that and said that flotation accounts data is included in the other group activities of the clubs that show their interest. They argue that there when these clubs includes other small businesses and due to which they are very effective in responsiveness as well. They have given the opinion that when these small units of business include their revenue in these clubs due to which they are very increasing trend in their profits in post flotation accounts as compared to post flotation accounts. The one of the researchers disagreed with the statement and argued that there is not increment in profits in post accounts of PLC. Therefore, at the end of this statement this study have been supported by three previous research studies and concluded that there is increment in post flotation accounts as well. Research Q. 5What is the relationship between Clubs league performance and the stock flotation? Four previous research studies have used in literature that have concluded in their studies differently. Two studies are of the viewpoint that there is positive relationship between club leagues and stock flotation. Two studies are of the viewpoint that there is negative relationship between these two variables named as club leagues and stock flotation. They are of the viewpoint that stock flotation’s have relationship but this relationship is negative. It shows that one stock flotation do not have direct relationship with stock flotation. While other of the view point that there is direct relationship between club league performance and stock flotation as well. Therefore, these researchers have overall moderate relationship between these variables.

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