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Financial distress in relegated football teams
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This paper approaches the financial impact of relegation in the football industry and studies the talent shortage as an indirect cost of financial distress. Utilizing financial data of the English Premier League and transfer market data from 4 different leagues, a set of Regression Discontinuity designs are conducted to measure the impact of relegation in football clubs and concludes that there is a lower attractiveness of distressed companies in the football industry.
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Football industry Financial statement analysis Financial distress Regression discontinuity