Intangible Asset Accounting and Accounting Policy Selection in the Football Industry

85391 Words342 Pages
INTANGIBLE ASSET ACCOUNTING AND ACCOUNTING POLICY SELECTION IN THE FOOTBALL INDUSTRY

by

NICHOLAS ROWBOTTOM

A thesis submitted to the Faculty of Commerce and Social Science of The University of Birmingham for the degree of DOCTOR OF PHILOSOPHY

Department of Accounting and Finance School of Business Faculty of Commerce and Social Science The University of Birmingham July 1998

University of Birmingham Research Archive e-theses repository This unpublished thesis/dissertation is copyright of the author and/or third parties. The intellectual property rights of the author or third parties in respect of this work are as defined by The Copyright Designs and Patents Act 1988 or as modified by any successor legislation. Any use made
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icies in the Football Industry
5.1 Accounting for Player Registrations and Transfer Fees 5.2 Accounting for Signing-on Fees 5.3 Capital Grants 5.4 Depreciation of Stadia

106

6

Theoretical Framework for Studying the Selection of Accounting Policy Choice
6.1 Theories of Accounting Policy Choice 6.2 Explanatory Variables 6.3 Statement of Hypothesis

138

7

Methods of Data Collection and Analysis
7.1 Sampling 7.2 Bank Questionnaire 7.3 Football Club Questionnaire 7.4 Variable Construction 7.5 Model Specification 7.6 Parameter Estimation 7.7 Sensitivity Analysis

168

8

Test Results and Interpretation
8.1 Underwriter Pressure Hypothesis 8.2 Debt Contracting Cost Hypothesis 8.3 Youth Development Hypothesis 8.4 Ownership Structure Hypothesis 8.5 Normative Influence Hypothesis 8.6 Political Cost Hypothesis

222

9

The Feasibility of Intangible Asset Accounting in the Football Industry 253
9.1 Transfer Fee Accounting 9.2 The Measurement of Player Registrations 9.3 Valuation Model for Player Registrations 9.4 Conclusions

Conclusions Appendix 1
A1.1 Bank Questionnaire Cover Letter A1.2 Bank Questionnaire

292 300

Appendix 2
A2.1 Club Questionnaire Cover Letter A2.2 Football Club Questionnaire

305

Appendix 3 Appendix 4 Appendix 5 Appendix 6 Appendix 7
A7.1 Multicollinearity A7.2 Model Assumptions

312 321 322 323 328

Bibliography

332

INTRODUCTION

One of the main aims of this thesis is to evaluate the feasibility of

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