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Modeling the Driving Factors of the Value Added in the Chinese Sports Industry: A Ridge Regression

Author

Listed:
  • Jiaomu Li

    (College of Physical Education, Hunan Normal University, Changsha 410017, China
    These authors contributed equally to this work.)

  • Sen Huang

    (Hunan Institute of Sport Science, Changsha 410005, China
    These authors contributed equally to this work.)

  • Sicheng Min

    (College of Physical Education, Hunan Normal University, Changsha 410017, China)

  • Te Bu

    (College of Physical Education, Hunan Normal University, Changsha 410017, China)

Abstract

The development of a high-quality sports industry is crucial to China’s economic growth. This research quantitatively analyzed factors influencing the development of the sports industry for the period 2010–2019. The study selected variables pertaining to the gross national income per capita ( X 1 ), household final consumption expenditure per capita ( X 2 ), sports population ( X 3 ), number of fitness venues and facilities ( X 4 ), number of sporting events ( X 5 ), and number of sports-related business registrations ( X 6 ) and analyzed their relationship with the value added to the sports industry. By developing a ridge regression model, it can be determined that correlations (Pearson’s r ) between six factors and the value added to the sports industry were all greater than 0.90, and that each factor had a positive impact on the industry ( p < 0.05). After standardizing the ridge regression model with the z -score method, it was determined that the degree of influence of the six factors varied: X 2 (β ridge = 0.156), X 3 (β ridge = 0.153) and X 5 (β ridge = 0.153), X 1 (β ridge = 0.151), X 4 (β ridge = 0.136), and X 6 (β ridge = 0.121). The ridge regression model can give a reference model for predicting and optimizing the sustainable development of the sports industry in China.

Suggested Citation

  • Jiaomu Li & Sen Huang & Sicheng Min & Te Bu, 2022. "Modeling the Driving Factors of the Value Added in the Chinese Sports Industry: A Ridge Regression," Sustainability, MDPI, vol. 14(12), pages 1-13, June.
    • Handle: RePEc:gam:jsusta:v:14:y:2022:i:12:p:7170-:d:836544
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    Cited by:

    1. Xiaolong Wei & Jianwei Zhang & Oleksii Lyulyov & Tetyana Pimonenko, 2023. "The Role of Digital Economy in Enhancing the Sports Industry to Attain Sustainable Development," Sustainability, MDPI, vol. 15(15), pages 1-21, August.

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