After the lockout season in 2004, the 2005 collective bargaining agreement (CBA) introduced salary regulations, as well as revenue sharing, to the teams of the National Hockey League (NHL) with the aim to restore financial competitiveness. Given these objectives, the question arises if...

Several determinants of player values like productivity and human capital have been investigated in previous research; however, the influence of individual effort has been neglected. This study assumes that effort could be a signaling device and analyzes the effect of effort on market values of...