Financial development and wage income: Evidence from the global football market

被引：1

作者：

Wang, Wei ^{[1
]}

Yang, Haoxi ^{[2
,3
]}

Wang, Xi ^{[1
]}

机构：

[1] Sun Yat Sen Univ, Lingnan Coll, Guangzhou 510275, Peoples R China

[2] Nankai Univ, Sch Finance, Tianjin 300350, Peoples R China

[3] Nankai Univ, Sch Finance, Tongyan Rd 8,Haihe River Educ Pk, Tianjin 300350, Peoples R China

来源：

JOURNAL OF BANKING & FINANCE | 2023年 / 149卷

基金：

中国国家自然科学基金;

关键词：

Financial development; Wage income; Football market; GROWTH; INEQUALITY; ACCESS;

D O I：

10.1016/j.jbankfin.2023.106813

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This study examines the empirical relation between football players' wage income and financial develop-ment at the individual level. Using a large panel dataset of 237,631 football players from 153 countries from 2010 to 2020 and the International Monetary Fund's Financial Development Indices, we show that financial development significantly raises players' wages. Players' wages increase by 25.77% as the Finan-cial Development Index rises by one standard deviation. Our main findings are robust to using subindices of financial development and instrumental variable regressions. We further point out that football play-ers of low capability, with low wages, and who play for low-reputation clubs benefit more from financial development. (c) 2023 Elsevier B.V. All rights reserved.

引用

页数：14

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