The Influence of TQM and Innovation on Perceived Financial Performance in Sport and Recreation Industry

This study has analyzed with a single-equation setting (using OLS estimation), the impact of TQM and innovation on perceived financial performance in sport and recreation enterprises. The results pointed out that TQM has a positive and statistically significant impact on innovation, while both variables (TQM and innovation) have a positive and statistically significant impact on perceived financial performance. These results have also been verified using a system of two simultaneous equations with Seemingly Unrelated Regression (SUR) setting. Moreover, this study presents useful theoretical and managerial implications that can be used by sport and recreation services managers and practitioners to achieve better performance results.