Market efficiency in the European football transfer market
Master thesis
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http://hdl.handle.net/11250/2485695Utgivelsesdato
2017Metadata
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- Master of Science [1822]
Sammendrag
This dissertation studies market efficiency in the European transfer market for football.
Data on player statistics and transfer fees is collected over the five most recent
seasons, and covers Premier League, Bundesliga, La Liga, Serie A and Ligue 1.
With three linear regression models, we attempt to answer in which degree the market
is efficient. The player rating model is meant to capture on pitch performance,
and in turn used as an explanatory variable in the final transfer fee model. Two
transfer fee models are then estimated based upon player- and market characteristics.
Our findings show that there exists a premium for South American players,
concluding that the market is weakly inefficient due to the premium on South American
players.
Beskrivelse
Masteroppgave(MSc) in Master of Science in Business, Finance - Handelshøyskolen BI, 2017