Economic valuation of Esteghlal Tehran Football Club based on willingness to pay using CVM method

Document Type : Research Paper

Authors

1 1. Ph. D. student, Faculty of physical education and sport sciences. Guilan University, Rasht, Iran.

2 Professor of Sport Management, Faculty of Physical Education and Sport Sciences, University of Guilan, Rasht, Iran.

3 Assistant Professor of Information and Knowledge, Department of Physical Information and Knowledge, University of Razi, Kermanshah, Iran.

4 Associate Professor, Department of Management, University of Gilan, Rasht, Iran

Abstract

the Economic valuation of Esteghlal Tehran football club by Contingent Valuation Method (CVM) The required information was collected by completing an electronic Double-bounded Dichotomous Choice questionnaire. sampling 942 questionnaires were used for analysis. logit regression model by forward LR method, examined the willingness to pay of fans for the evaluation of Esteghlal Club and the factors affecting it. To analyze the data were used the software; SPSS21, MAPLE21 and Expert Choice. According to the results, the expected amount of willingness to pay annually for each fan for Esteghlal Club was equal to 134,235 Tomans. The annual value of the club for the fans is equal to 402,706,500,000 Tomans and the current value of the club was estimated at 2,237,258,333,333 Tomans. with Analytic Hierarchical Process, was found that the use values of Esteghlal Club with a weight of 0.764 and a price of 1,709,265,366,666 Tomans are almost nearly triple more important than non-use values with a weight of 0.236 and a price of 527,992,966,667 Tomans. In prioritizing use values, indirect use values with a weight of 0.355 and a price of 606,789,205,166 Tomans in the first priority and respectively direct use values and option values They are second and third priority with weights of 0.341 and 0.304, and prices of 582,859,490,033 Tomans and 519,616,671,467 Tomans. In prioritizing non-use values, existential values with a weight of 0.512 and a price of 270,332,398,934 were recognized as more important than bequest values with a weight of 0.488 and a price of 257,660,567,733 Tomans.

Keywords

Main Subjects

References

Adeli, O. A., & Rahimi kah kashi, S. (2021). Estimating willingness to pay for the Covid-19 vaccine using the conditional valuation method [Research].  Health Monitor Journal of the Iranian Institute for Health Sciences Research, 20(2), 223-236. https://doi.org/10.52547/payesh.20.2.223
Bafandeh Imandoust, s., lashkari, m., & Moghtadaei, f. (2015). The Economic Valuation of Urban Entertainment Services (the Case of: Estimates of the Amusement Value of Mellat Park in Holly Mashhad) [Research]. Journal of Urban Economics and Management, 3(10), 21- 35.
Bidram, R., Saffari, B., & Daruvar, D. (2018). Estimation of Economic Value of Foolad Mobarakeh Sepahan Football Club for Isfahan. Urban Economics, 2(1), 37-50 (in persian).
 Bidram, R., Saffari, B., & Daruvar, D. (2018). Estimation of Economic Value of Foolad Mobarakeh Sepahan Football Club for Isfahan. Urban Economics, 2(1), 37-50 (in persian).
 Cho, S., Lee, J. L., Won, J., & Lee, J. K. J. (2019). Empirical Investigation of Sport Trademark Dilution Using Contingent Valuation Method. Journal of Sport Management, 34(3), 189-200.
Choi, Y. j., Lee, W. S., Moon, J., & Kim, K.-B. (2021). The value of preserving endangered folk games using the contingent valuation method. Current Issues in Tourism, 24(9), 1319-1330.
De Boer, W. I., Koning, R. H., & Mierau, J. O. (2019). Ex ante and ex post willingness to pay for hosting a large international sport event. Journal of Sports Economics, 20(2), 159-176 De Rycke, J., & De Bosscher, V. (2019). Mapping the potential societal impacts triggered by elite sport: a conceptual framework. International Journal of Sport Policy and Politics, 11(3), 485- 502.
Falah Kazemi, M., Gholipour, N., & Eidi, H. (2017). Prioritize the Factors Affecting the Existence of Empty Seats in a Football Stadium, Using TOPSIS. Sport Management Studies, 9(43), 237-256.
Fischer, C., & Hamm, R. (2019). Football clubs and regional image. Review of Regional Research, 39(1), 1-23. Frick, B., & Wicker, P. (2018). The monetary value of having a first division Bundesliga team to local residents. Schmalenbach Business Review, 70(1), 63-103.
 Funahashi, H., & Mano, Y. (2015). Sociopsychological factors associated with the public's willingness to pay for elite sport policy: does risk perception matter? Managing Sport and Leisure, 20(2), 77-99.
 Funahashi, H., De Bosscher, V., & Mano, Y. (2015). Understanding public acceptance of elite sport policy in Japan: a structural equation modelling approach. European Sport Management Quarterly, 15(4), 478-504.
 Funahashi, H., Shibli, S., Sotiriadou, P., Mäkinen, J., Dijk, B., & De Bosscher, V. (2020). Valuing elite sport success using the contingent valuation method: A transnational study. Sport management review, 23(3), 548-562.
Hallmann, K., Breuer, C., & Kühnreich, B. (2013). Happiness, pride and elite sporting success: What population segments gain most from national athletic achievements? Sport management review, 16(2), 226-235.
Harati, m., peymanizad, h., talebpour, m., & keshtedar, m. (2020). Developing the Economic Valuation Model of Intangible Assets of Iran Handball Premier League Clubs. Journal of Sport Management, 12(2), 423-443.
Humphreys, B. R., Johnson, B. K., Mason, D. S., & Whitehead, J. C. (2018). Estimating the value of medal success in the Olympic Games. Journal of Sports Economics, 19(3), 398-416.
Jackendoff, R. (2006). The peculiar logic of value. Journal of Cognition and Culture, 6(3-4), 375- 407.
 kalashi, M., karimi, j., & eydi, H. (2019). Economic valuation of participation in sport and determination of people's willingness to pay (Demand for sports). Contemporary Studies On Sport Management, 9(17), 95-107.
Khalilain, S., Khodaverdizadeh, M., & Kavoosi Kelashemi, M. (2012). Determining Preservation Value of the Ghorigol Wetland and Applying Analytic Hierarchical Process )AHP( for Distinguishing Use and Non-Use Values. Journal of Environmental Studies, 37(60), 23-34.
Lee, J. L. (2015). Assessing sport brand value through use of the contingent valuation method. Journal of Economic & Financial Studies, 3(06), 33-44.
Maennig, W. (2019). Olympic Games: Public Referenda, Public Opinion and Willingness to Pay. The SAGE Handbook of Sports Economics, 367.
Mohsenifar, a., dousti, m., & tabesh, s. (2020). Estimated Economic Value of Nassaji Soccer Club of Mazandaran Province. Sport Management and Development, 9(2), 18-34. https://doi.org/10.22124/jsmd.2020.4145 (in persian)
 Orlowski, J., & Wicker, P. (2019). Monetary valuation of non-market goods and services: a review of conceptual approaches and empirical applications in sports. European Sport Management Quarterly, 19(4), 456-480.
 Orlowski, J., Wicker, P., Downward, P., Frick, B., Humphreys, B., Pawlowski, T., Ruseski, J., & Soebbing, B. (2019). Willingness to pay in sports. The SAGE Handbook of Sports Economics, 415.
 Owen, J. G. (2006). The intangible benefits of sports teams. Public Finance and Management, 6(3), 321.
Pizzol, M., Weidema, B., Brandão, M., & Osset, P. (2015). Monetary valuation in life cycle assessment: a review. Journal of Cleaner Production, 86, 170-179.
Segerson, K. (2017). Valuing environmental goods and services: an economic perspective. In A primer on nonmarket valuation (pp. 1-25). Springer.
Shapiro, S. L., Drayer, J., & Dwyer, B. (2016). Examining consumer perceptions of demandbased ticket pricing in sport. Sport Marketing Quarterly, 25(1).
Süssmuth, B., Heyne, M., & Maennig, W. (2010). Induced civic pride and integration. Oxford CVM bulletin of economics and statistics, 72(2), 202- 220.
Walker, M., & Mondello, M. J. (2007). Moving beyond economic impact: A closer look at the contingent valuation method. International Journal of Sport Finance, 2(3), 149-160.
Wicker, P., & Hallmann, K. (2013). Estimating consumer's willingness-to-pay for participation in and traveling to Marathon events. Event Management, 17(3), 271-282.
Wicker, P., Whitehead, J. C., Johnson, B. K., & Mason, D. S. (2016). Willingness‐to‐Pay for Sporting Success of Football Bundesliga Teams. Contemporary economic policy, 34(3), 446-462.
Wicker, P., Whitehead, J. C., Mason, D. S., & Johnson, B. K. (2017). Public support for hosting the Olympic Summer Games in Germany: The CVM approach. Urban Studies, 54(15), 3597- 3614.
 Xiao, J., Wang, M., & Gao, X. (2020). Valuing tourists’ willingness to pay for conserving the non-use values of marine tourism resources: a comparison of three archipelagic tourism destinations in China. Journal of Sustainable Tourism, 1-33.

Files

History

  • Receive Date: 03 July 2021
  • Revise Date: 19 September 2022
  • Accept Date: 21 September 2022

Share

How to cite

Statistics