SMGT 506 - Research Paper: Final Draft Assignment

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SMGT506ResearchPaper-AnnotatedBibliography.docx

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Research Paper: Topic Selection/Annotated Bibliography Assignment

Chet L. Walker

Liberty University

SMGT 506 – Economics & Financial Management of Sport

Dr. Kevin Heisey

4 April 2021

Running head: ANNOTATED BIBLIOGRAPHY 1

Annotated Bibliography Assignment

Introduction to the Research Topic

Free agencies are critical since free agents are some of the most important institutions to the world since they significantly impact athletic and sporting activities, which are some of the world's influential aspects in the modern-day. The free agencies help the professional athletes to negotiate employment contracts with the potential teams of their choosing rather than remaining contained in a single team. The free agencies allow the athletes to shop themselves out of teams and go to the teams they hope to play in the most. They affect popular sports, including football, baseball, and basketball, affecting the sports atmosphere in all dimensions. Even though some players still do not use the free agents, they significantly affect the sports atmosphere worldwide, and thus they are of importance when matters concerning sport are concerned. The research paper is, therefore, will look at the relevance of the free agencies and their effects on worldwide sports.

Annotated Bibliographies

Maxcy, J., & Mondello, M. (2006). The Impact of Free Agency on Competitive Balance in North American Professional Team Sports Leagues. Journal of Sport Management, 20(3), 345-365. https://doi.org/10.1123/jsm.20.3.345. The paper looks at the impact of free agency in North American professional sports, and it begins with discussing the immediate issues which concern free agency. It introduces the free agency, as it was introduced in the 1970s and the various milestones and impacts that it has done on the sports atmosphere in general. As many people thought it would do away with competitive balance in sports, economists have rejected the theory as they affirm that balance will continue to exist. National Basketball Association (NBA) and National Hockey League (NHL) are examples that the company employs the regression rule to determine the maintenance of balance in the sports arena, despite the free agents' existence. The methods and analysis done in this paper are relatable, and they prove that the balance in competition for players remains constant despite their involvement. The authors of the journal, Joel Maxcy (PhD, Drexel University) and Michael Mondello of Florida University, are both experts in economics, making the journal credible and the information authentically reliable.

Larsen, A., Fenn, A., & Spenner, E. (2006). The Impact of Free Agency and the Salary Cap on Competitive Balance in the National Football League. Journal of Sports Economics, 7(4), 374-390. https://doi.org/10.1177/1527002505279345. The paper examines the National Football League (NFL) to determine the effects that the free agencies have had on the competitive balance and the transfer of the players from different teams to the next. Using Gini coefficients and the Herfindahl-Hirschman Index deviations, the authors use the actual playing schedules to measure the competitive balance, incorporating the upper bounds as the function of the players’ talents, ability to strike the NFL expansions, playoffs, team relocations length of the schedules the number of latest stadiums and the expansions of the NFL from the introduction to the year 2002. The research proves that the free agency and salary cap tend towards determining a balance. The results are like those in the first article. The three authors Larsen, Fenn and Spenner, are all experts of economics from Iowa and Colorado universities, respectively, and their insights are reliable through the article is a bit old.

Drahozal, C. (1986). The impact of free agency on the distribution of playing talent in major league baseball. Journal of Economics and Business, 38(2), 113-121. https://doi.org/10.1016/0148-6195(86)90021-4. The paper examines the effect of free agency on the distribution of talents in baseball. The author, an expert of Economics from the University of Iowa, uses standard quantitative analysis to determine how free agency affect talent and their existence in the various leagues. The conclusion from the paper is that it affects the player, concentrating them on the wealthier teams. Since the author is an expert economist, the information is reliable even though it is older. Perhaps some of the factors which contributed to the conclusion might have changed over the years.

References