对我国职业足球俱乐部融资次序的审视

我国职业足球俱乐部的融资次序与经典资本结构理论的结论不同,出现了一定的偏离现象,这一现象具有深刻的政治经济学内涵。阐述了经典资本结构理论的融资次序,即内部资金融资、债权融资和股票形式融资;分析了我国职业足球俱乐部与主流融资次序背离的原因,并提出相关改革建议,对深刻认识当前足球的融资行为和进一步探讨俱乐部未来的融资方式具有积极的参考意义。

Examination of Financing Order of Professional Football Club in China

The financing order of the professional football club in China is different from the conclusion of the classical capital structure theory,and certain bias phenomenon has appeared,which has deep politics economy connotation.This paper explains the financing order of the classical capital structure theory,namely inside fund financing,creditor's rights financing and stock form financing.It analyzes the reason that the professional football club in China deviates from main financing order and proposes suggestions to reform it,which provides positive reference for financing behavior of football at present and further probing into financing way of the club in the future.