Relationship of Good Governance Practices in the Financial and Sporting Performance of Brazilian Football Clubs

Abstract

The objective of this study is to investigate how clubs’ governance practices impact their financial and sporting performance between 2018 and 2023. To achieve this purpose, the research adopts a quantitative descriptive approach, based on the systematic collection and analysis of data and documents available on the official websites of the clubs analyzed. EBITDA was used as the financial performance indicator, totaling 166 observations included in the model. Sporting performance was measured using a scoring structure based on the CBF Ranking, yielding 606 observations over the period under study. The analyses were conducted using descriptive statistics and linear regression in RStudio, enabling the identification of relationships between governance variables and performance indicators. The results revealed that governance practices related to Ethics and Conflicts of Interest, Transparency and Accountability, and Corporate Social Responsibility positively influence both financial and sporting performance. In contrast, mechanisms associated with Governance Structure were not statistically significant in the model. Given these findings, the study reinforces the importance of consistent governance practices by football clubs, highlighting their strategic role in organizational management and the pursuit of improved financial and sporting outcomes.