Estimating Market Values of Football Players - An Empirical Analysis of the Relationship Between Google Trends, Players' Performances and Their Market Values
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Due to the ever-increasing interest and commercial value of football worldwide, especially in the big European leagues, the transfer fees associated with trading of football players between clubs are getting higher and higher each year. Thus, attaining accurate valuation of a player s market value has become extremely critical but also very challenging, due to the complexity of all influencing factors. Through experimental, empirical testing and statistical regression based on quantitative data, this research paper seeks to find anticipated patterns in the financial market of football and generate an explanatory estimation model for calculating market values of professional football players. The research examines the relationship between various influencing factors such as Google Trends, basic player information and historical performance data, and demonstrates how these parameters can be collected from extensive public data sources and used to model market value estimates of footballers in modern-day football. The results indicate a strong correlation between these variables, and Google search trends show significant impact when applied to the valuation model.