DO FOOTBALL CLUBS WITH GOOD GOVERNANCE HAVE HIGHER PERFORMANCES? EVIDENCE FROM BRAZIL

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Marcio Oliveira, Andre Carvalhal ORCID logo

DOI:10.22495/cocv16i1art1

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Abstract

There are many studies on corporate governance and performance of companies. However, the research on governance and performance of football clubs is scarce. This paper creates a football club governance index that allows us to analyze a larger number of clubs during a longer period of time when compared to previous studies. The authors study 20 Brazilian football clubs from 2005 to 2010 and find that clubs with good governance are more profitable, generate higher revenues, and win more championships domestically and abroad.

Keywords: Football Club, Corporate Governance, Brazil

JEL Classification: G30, G32, G34

Received: 15.06.2018

Accepted: 03.10.2018

Published online: 22.10.2018

How to cite this paper: Oliveira, M., & Carvalhal, A. (2018). Do football clubs with good governance have higher performances? Evidence from Brazil. Corporate Ownership & Control, 16(1), 7-12. http://doi.org/10.22495/cocv16i1art1