ABSTRACT

In surveys across countries, nonprofit sports clubs report their perceived financial situation using some form of Likert scale; however, it is unclear what this subjectively reported rating reflects. The purpose of this study is to examine the link between objective financial measures and club officials’ perceptions of the financial situation. The main research question is: What objective financial measures best reflect the level and changes in the perceived financial situation of nonprofit sports clubs? The study used panel data from four consecutive waves of a German sports club’s panel (n = 2,859). The clubs’ financial situation was assessed on a 6-point scale (1 = no problem; 6 = existential problem). This subjective measure was juxtaposed with several objective financial measures drawn from the literature and financial theories. These measures include general financial measures like interest coverage, margin, and revenue diversification, but also measures specifically developed for the nonprofit sports clubs’ context. The results of regression analyses show that operating margin, revenue diversity, the share of facility expenses relative to total expenses, and administrative expenses relative to total revenue significantly explained the subjectively rated financial situation. The findings suggest that objective financial measures are required to better understand the financial situation of sports clubs and design more targeted support programmes.

摘要

在各国的调查中，非营利体育俱乐部使用某种形式的李克特量表来报告他们所感知的财务状况；然而，目前尚不清楚这一主观报告的评级反映了什么。本研究的目的是探讨客观财务指标与俱乐部官员对财务状况的看法之间的联系。主要研究问题是：哪些客观财务指标最能反映非营利体育俱乐部的感知财务状况的水平和变化？该研究使用了德国体育俱乐部面板的连续四波面板数据（n= 2,859）。俱乐部的财务状况按照 6 分制进行评估（1 = 没有问题；6 = 存在问题）。这种主观衡量标准与从文献和金融理论中得出的几种客观财务衡量标准并列。这些措施包括一般财务措施，如利息覆盖率、利润率和收入多元化，但也包括专门针对非营利体育俱乐部的情况制定的措施。回归分析的结果表明，营业利润率、收入多样性、设施费用相对于总费用的比例以及管理费用相对于总收入的比例显着解释了主观评价的财务状况。