The impact of UEFA financial fair play on player expenditures, sporting success and financial performance: evidence from the Italian top league

Research question: In this study we empirically test the following hypotheses regarding the impact of financial fair play (FFP) on Italian first-division clubs: 1) FFP works as a governance mechanism moderating the relation between internal governance mechanisms and wage expenditures, 2) FFP is altering the relative importance of player expenditures as drivers of sporting performance, and 3) FFP is shifting the business model of Italian clubs...