프로야구단 재무제표를 이용한 경영성과 분석 연구

The purpose of this study was to analyze business performance using the financial statements of Korean professional baseball teams registered in the Financial Supervisory Service(FSS) public disclosure system. Trend analysis, composition ratio analysis, and financial ratio analysis were applied to five professional baseball teams' financial statements from 2013 to 2016, which were audited externally by accounting firms. The research results of the financial statements analysis were as follows. First, as a result of trend analysis, sales of professional baseball teams were on the rise, but profit and loss were in the red, and the size of management was expanding as assets increase. Also, teams belonging to the conglomerate relied heavily on the parent company while the Seoul Heroes, an independent team, had diversified its sales to establish a certain level of economic independence. Second, the composition ratio analysis showed that professional baseball teams have a high cost structure with 70 to 80 percent of cost of goods sold and 20 to 30 percent of selling and administrative expenses, and lacks liquid assets to repay short-term debts. Third, the financial ratio analysis showed that many teams, excluding the growth ratio, failed to meet the proper ratio of profitability, liquidity, stability and cash flow, In particular, it has been analyzed that one team has continued to be fully impaired capital and uncertainty about the sports company continues. Finally, the whole korean professional baseball teams have common financial problems, despite its expanding marketability, such as low level financial independence, high cost low profit and cash liquidity risks, excessive debts. Therefore, they should strengthen their financial management capabilities and effective measures should be taken to establish a sound financial structure at the league level.