Shaping exit and voice: an account of corporate control in UK sports
Abstract
Purpose
The purpose of this paper is to help demonstrate the extent to which socio‐cultural and market‐oriented incentives jointly contribute to corporate control outcomes that prevail in the UK football industry.
Design/methodology/approach
Illustrative case studies informed by analysis of financial performance data, discussion with key informants, review of official documents.
Findings
The paper finds long term performance outcomes were influenced in substantive ways by actions led by shareholder groups pursuing largely non‐market‐oriented objectives.
Research limitations/implications
Industry‐specific empirical work that analyses how the interplay between voice and exit strategies influences corporate control outcomes is limited. This paper focuses on two UK cases and therefore would benefit expansion to further UK cases and comparative analyses to non‐UK situations.
Practical implications
The outcomes suggest that the market for corporate control in this particular industry context requires specific attention to actions driven by largely non‐market‐driven incentives.
Originality/value
Previous papers have not provided detailed empirical‐based evidence about how socio‐cultural concerns have influenced corporate control outcomes in the case studies provided.
Keywords
Citation
Nikolychuk, L. and Sturgess, B. (2007), "Shaping exit and voice: an account of corporate control in UK sports", Management Decision, Vol. 45 No. 5, pp. 841-852. https://doi.org/10.1108/00251740710753666
Publisher
:Emerald Group Publishing Limited
Copyright © 2007, Emerald Group Publishing Limited