Financial fair play fiscal applications and the effect of turkish football clubs on the market value

This study's aim is that determine how the application off Financial Fair Play rules affect the market value of Turkish football clubs traded on Borsa İstanbul. At least, 4 football clubs "Galatasaray, Beşiktaş, Fenerbahçe, Trabzonspor" have to provide balanced budget (Total Revenues = Total Expenses) with the Financial Fair Play rule applications, It is mean, the Break-even rule. After the FFP rules, the stock price of 4 football clubs has been analyzed quarter period of each year. The purpose of this, trying determine the relationship and direction between participation in European competitions and stock priceses. Apart from this, the price of movements of stock has been tried to be interpreted in the light of macroeconomic data. Within the framework of Financial Fair Play rules, the relationship between ''club revenues, total expenses'' which are used as independent variables, and stock price which is the dependent variable, has been analyzed by using Panel Data analyz method, As a result, it has been tried to reveal which independent variable or variables are more effective on the dependent variable, such as stadium revenues, retail revenues, etc.