Migration and Football Player Market Value: Evidence from Greece

The scope of this study was to examine the determinant factors of young football players' market values and whether the migration constitutes a significant variable which enhances player's annual valuation. A database of all young migrant and local athletes that participated in the professional Greek football championship over the period 2008-2013 was utilized. Descriptive evidence revealed that migrant athletes had higher annual market values and were given higher participation chances compared to local football players. Instrumental variable regression analyses revealed that football match appearances were more significant determinants of market value for native athletes relative to migrant athletes. This effect was more intense for the native athletes who were utilized less by their coaches in terms of actual minutes of participation in official games.