Loggar Bhilawa, Ryanaldi Fahriansyah



This research aims to investigate the influence of performance, age, and nationality on the market value of football players. The population in this research is the professional football players that play in Indonesian League 1 competition in the 2019 season. Data obtained from the official website that publishes the football players' prices in the transfer market in the world is The purposive random sampling method obtained samples from as many as 234 professional football players from 18 clubs. This research used a quantitative approach. The results of this research show that the performance has a positive effect on the market value of football players because the market value of the players reflects the performance of the players themselves. At the same time, age also harms the market value of soccer players because age affects the performance of football players. Nationality has a positive effect on the market value of football players because nationality influences the quality and ability of football players. In this research, we show that players with good performance are more interested in many clubs at a young age, so these players have a high market value.


Tujuan penelitian ini untuk menguji pengaruh performance, umur, dan nationality terhadap market value pemain sepakbola. Populasi adalah pemain sepakbola professional yang bermain di Liga 1 Indonesia musim 2019. Data diperoleh dari situs Berdasarkan metode purposive random sampling, sampel yang diperoleh sebanyak 234 pemain pada 18 klub. Penelitian ini menggunakan metode pendekatan kuantitatif. Hasil penelitian ini menunjukkan performance berpengaruh positif terhadap market value pemain sepakbola, sedangkan umur berpengaruh negatif terhadap market value pemain sepakbola, dan nationality berpengaruh positif terhadap market value pemain sepakbola. Penelitian ini menunjukkan bahwa pemain dengan performance yang baik dan umur yang masih muda lebih diminati oleh banyak klub sehingga pemain tersebut memiliki nilai pasar yang tinggi.


Performance; Age; Nationality; Market Value; Football Player; Indonesian; Performance; Umur; Nationality; Market Value; Pemain Sepakbola; Indonesia

Full Text:



Berg, E. van den. (2011). The Valuation of Human Capital in the Football Player Transfer Market. Master thesis Financial Economics. Erasmus School of Economics.

Brommer, B. C. (2011). Does the recognition of football players contracts require extra attention ? Master thesis Accounting. Tilburg University.

Franck, E., & Nüesch, S. (2012). Talent and/or popularity: What does it take to be a superstar? Economic Inquiry, 50(1), 202–216.

Fry, T. R. L., Galanos, G., & Posso, A. (2014). Let’s Get Messi? Top-Scorer Productivity in the European Champions League. Scottish Journal of Political Economy, 61(3), 261–279.

Ghozali, I. (2007). Aplikasi Analisis Multivariat dengan Program SPSS (Cetakan IV). Semarang: Badan Penerbit Universitas Diponegoro.

Glenniza, D. (2017). Akhirnya Definisi Marquee Player di Indonesia Sudah Jelas! Pandit Football Indonesia. Retrieved November 11, 2019, from

Gulbrandsen, C. M., & Gulbrandsen, A. M. (2011). Valuation of Football Players: a complete pricing framework. Norges Handelshoyskole.

Herm, S., Callsen-Bracker, H. M., & Kreis, H. (2014). When the crowd evaluates soccer players’ market values: Accuracy and evaluation attributes of an online community. Sport Management Review, 17(4), 484–492.

Kesenne, S. (2015). Revenue sharing and absolute league quality; talent investment and talent allocation. Scottish Journal of Political Economy, 62(1), 51–58.

Kim, Y., Bui, K. H. N., & Jung, J. J. (2021). Data-driven exploratory approach on player valuation in football transfer market. Concurrency and Computation: Practice and Experience, 33(3), 1–9.

Kuper, S., & Szymanski, S. (2012). Soccernomics: Why England Loses, Why Germany and Brazil Win, and Why the U.S., Japan, Australia, Turkey—And Even Iraq—Are Destined To Become the Kings of the World’s Most Popular Sport. Journal of Sports Economics, 13(1), 96–98.

Limba, F. B., Rijoly, J. C. D., & Tarangi, M. I. (2020). Black Swan Global Market: Analysis Of The Effect Of The Covid-19 Death Rate On The Volatility Of European Football Club Stock Prices (Case Study Of Juventus F.C., Manchester United, Ajax Amsterdam And Borussia Dortmund). JMBI UNSRAT (Jurnal Ilmiah Manajemen Bisnis Dan Inovasi Universitas Sam Ratulangi)., 7(3).

Majewski, S. (2016). Identification of factors determining market value of the most valuable football players. Journal of Management and Business Administration. Central Europe, 24(3), 91–104.

Martin, G. R., Lopez, A. R., & Gonzale, D. S. (2019). Valuation of football players in financial statements : the power of the crowd versus transfer fees. European Financial Management, 1–34.

Muhammad, S. (2017). Pengaruh Performance, Umur, Dan Cost Of Input Terhadap Market Value Pemain Sepakbola Profesional ( Studi Empiris pada Klub Sepakbola yang berkompetisi dalam Liga Spanyol pada periode 2014/2015 ). Jurnal Akuntansi Dan Auditing Indonesia, 3(12).

Müller, O., Simons, A., & Weinmann, M. (2017). Beyond crowd judgments: Data-driven estimation of market value in association football. European Journal of Operational Research, 263(2), 611–624.

Pawlowski, T., Breuer, C., & Hovemann, A. (2010). Top clubs' performance and the competitive situation in European domestic football competitions. Journal of Sports Economics, 11(2), 186–202.

Pranata, E. C., & Supatmi, S. (2016). Analisis Kinerja Keuangan Pada Klub Sepak Bola (Studi Kasus Pada Arsenal, Tottenham Hotspur dan Everton). Jurnal Ekonomi Dan Bisnis, 17(2), 41.

Szymanski, S., & Kuper, S. (2018). Soccernomics: Why England loses, why Germany and Brazil win, and why the U.S., Japan, Australia, Turkey and even Iraq are destined to become the kings of the world’s most popular sport. In Book Reviews (Vol. 26, p. 81228). Retrieved from

Thrane, C. (2019). Performance and Actual Pay in Norwegian Soccer. Journal of Sports Economics, 20(8), 1051–1065.

Article Metrics

Abstract has been read : 1149 times
PDF file viewed/downloaded: 0 times



  • There are currently no refbacks.

Copyright (c) 2022 Loggar Bhilawa, Ryanaldi Fahriansyah

Creative Commons License
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

ASSETS: Jurnal Akuntansi dan Pendidikan is supported by



ASSETS: Jurnal Akuntansi dan Pendidikan is indexed by


Creative Commons License
ASSETS: Jurnal Akuntansi dan Pendidikan is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

View My Stats

 Flag Counter
Flag Counter