Factors Affecting Athletes' Agent Behavior From The Perspective Of Portfolio

Since China's reform and opening policies,with the rapid development of the national economy,China's professional sports market has also developed rapidly,and professional sports,as the soil of sports brokerage industry,which also marks that China's sports brokerage industry has entered a new period of development.The marketization of sports cannot be separated from the penetration of athletes' brokers.The improvement of the marketization of sports in China also highlights the important role of athletes' brokers.Especially in recent years,China successfully hosted the large-scale sports event,expanding the scale of the sports brokerage organization,brokerage business scope gradually broadened,agent team gradually standard,sports market demand gradually prosperous,these are for the development of the sports brokerage business in China has brought unprecedented opportunities,but it is undeniable that in the process of development,many problems still exist,the agent and the principal both sides information asymmetry,resulting in potential principal-agent moral hazard problems,eventually to the signing of the contract have a negative impact.Aiming at the condition of the athletes broker agent multiple players,this article from the perspective of investment portfolio for possible agent for its own interests,and will risk shifting to players,regardless of the interests of the behavior,the mechanism of formation of the study of the behavior,reason,and the influential factors of the agent for the player to sign the contract has carried on the empirical research.In the process,this article will agent acting as players as its portfolio,analysis and study when athletes agent,the agent increased the number of players,the broker will for their own interests and damage the interests of the agent client player,and major league baseball in the process of signing a long-term contract,athletes agent as the player's agent the negotiated settlement,for example,as a result of data analysis,model to prove that the agent of customer portfolio scale(i.e.,brokers have the customer number of players)to the success of a long-term contract signing will produce certain negative effects.Based on the institutional background of major league baseball,the expected income of both parties when the agent signs a contract extension or not is calculated by using an example simulation.Based on the results of simulation examples,explanatory variables related to the characteristics of teams,players and brokers were selected to make assumptions and analyze the factors influencing the probability of the broker signing contract renewal for players.After a logit regression analysis found that when the broker agent multiple players at the same time,will produce inconsistent,brokers and the interests of the principal agent player number's agent,the income risk is much lower than his customers,so may calculate the minimum acceptable contract beyond the customer price,eventually to a long-term contract has a negative impact.Therefore,according to the results of logit regression analysis,the following Suggestions are put forward for the development of sports brokers in China in the future: On the one hand,the following Suggestions are put forward for athletes,athletes' agents and teams from the micro level: From the perspective of athletes' agents,they should strengthen their professional ethics and quality,and make corresponding behavior choices based on the interests of agents;The team shall provide appropriate advisory assistance to the players.On the other hand,the following Suggestions are put forward from the perspective of the macromanagement of athletes' brokers in China: Further develop and improve the sports industry system,and let the market play a leading role in the development of sports brokerage;Improve the training system to cultivate high-quality professional brokers;To strengthen the legal construction,from the legal level of the behavior of brokers to make requirements and norms,fair and reasonable to protect the legitimate rights and interests of both sides of the broker and the client;Learn from the mature registration and management system of brokers in other industries,standardize the registration system of sports brokers,and strictly control the qualification of brokers.The results of the study on players,team management and agent itself has important sense,because the results can clearly shows that under the condition of the agent has a number of customers,the agent may be inconsistent with the interests of the principal,so in the process of the future development of Chinese athletes agent,can draw lessons from and study aspects.For this,on the basis of the research results,combining the current situation of the development of industry of our country athlete agent,and the increase of the degree of marketization of sports industry in China in the future is bound to cause athlete agent,the background of rapid development,how to learn western advanced athletes agent development experience and ways of preventing athletes for their own interests and damage the interests of the player's agent,standardize Chinese athlete agent and agent relationship,so as to the development of our country athlete agent add brick add tile,make sports brokerage market more fair and efficient,make the development of our country athlete agent in the future more standard and perfect,It provides basis,reference and suggestion for future research and decision-making.