Manuel Espitia-Escuer

Measuring the Efficiency of Spanish First-Division Soccer Teams

The aim of this article is to measure the efficiency of the professional soccer teams that play in the Spanish First Division in their activity of converting attacking moves during the match into sporting success. The timeline of the study is the three seasons from 1998 to 2001. To that end, we apply the data envelopment analysis (DEA) methodology, taking as input variables the players used, attacking moves, the minutes of possession of the ball, and the shots and headers; as output, we considered the number of points achieved. Our main conclusion is that the efficient teams in the activity analyzed do not always correspond with those that finished highest in the league at the end of the season.

Measuring the Productivity of Spanish First Division Soccer Teams

Abstract This study examines the Total Factor Productivity evolution of Spanish First Division Soccer teams employing the values of the Malmquist Index. The football seasons from 1998 to 2004 are used as the time horizon. The breakdown of the two components of the Malmquist Index Values (efficiency change and technical change) enable one to understand the influence of these factors on productivity and conclusions can be drawn about the relationship between the values of efficiency and the playing field strategy adopted by the analysed teams.

Expected quality in European football attendance: market value and uncertainty reconsidered

The aim of this article was to deepen the study of the determinants of the sporting event’s demand. Specifically, this study is focused on the relationship between the expected quality of the event and attendance at the European football stadiums. The study explores the Rottemberg Hypothesis (1956), which states the existence of a positive effect of the outcome uncertainty on attendance demand and approximates with dynamic indexes the outcome uncertainty and the quality of the contestant teams. From the estimation of the attendance equation using quantile regression (which takes into account the heterogeneity of the demand) highlights the fact that the attractive aspect of the event, approximated by the market value of the players taking the field, has a positive and significant impact whatever typology of venue. In addition, this study provides empirical support to the assumption that game day demand is more related to the quality of contestant teams than to outcome uncertainty level.

Determinants of the productive efficiency for the bank systems in the European Union countries

In the framework of the European Union, one of the economic sectors of most interest to politicians, academics and professionals has been the banking sector. The aim of this paper is to verify the existence of differences in the efficiency of the banking sectors and what variables determine these differences in European Union countries in the period 1988 to 1999. In spite of the role of the European Market as an element of homogenisation, the starting point of the banking sector in each country is noticeably different. In this paper we will compare the banking systems, looking at aggregate data for each country, since both the characteristics of the financial systems and the regulatory activity follow national guidelines. The efficiency values of each banking system calculated by the means of stochastic frontiers in the European Union will then be used as the dependent variable in the estimation of a regression.

Complementary Assets and Investment Decisions

This paper analyzes which simultaneous crossover effects among tangible, intangible, and current assets affect investment and disinvestment decisions on tangible and intangible assets. Controlling for nonconvexity and irreversibility effects, we analyze investment and disinvestment over 1,044 firm-year observations of Spanish firms. The results show interrelations among tangible and intangible assets affecting their investment and disinvestment decisions, a different effect of current assets on investment and disinvestment, and the existence of lumping investment. The main contribution is the control for misspecification biases since all the effects are considered together.

Productivity in professional Spanish basketball

Purpose – The purpose of this paper is twofold: first, to evaluate the performance of Spanish first-division basketball teams, in terms of efficiency, by defining previously a productive function and obtaining also their potential output. Second, to examine the total factor productivity evolution having information from several years, which allows us to draw conclusions about the changes in the efficient frontier. Design/methodology/approach – In order to assess the efficiency level and the potential output of each team in the ACB competition, between the season 2008/2009 and 2011/2012, an input-oriented version with constant returns of data envelopment analysis is used. The total factor productivity evolution is studied by employing the values of the Malmquist index. Findings – The main conclusion is that the final position of the Spanish basketball teams depends on the efficiency and any technological progress is needed to maintain themselves on top of rank. Practical implications – Performing on the fi...

The effect of highly liquidable assets on productive-assets investment and disinvestment

In the q theory approach, the firm faces convex costs of adjustment and equals the marginal valuation of a unit of capital, with the marginal cost of investment. In the irreversible investment literature, the firm must consider future opportunities and costs because capital expenditures are at least partly sunk. Within this context, we explore if the existence of highly liquidable assets in the company influences decisions of investment and disinvestment in productive assets and if its influence is different over each decision. We develop an investment model which allows the liquid assets stock to influence on the adjustment costs of productive assets. The developed model is then applied to a 1,044 panel data of Spanish companies. Results evidence that highly liquidable assets are relevant on investment models. Moreover, high levels of liquidable assets stimulate investment and disincentive disinvestment in productive assets.