Young Hoon Lee

This paper is intended to introduce a variety of stochastic frontier econometric models to applied economists working in the field of sports economics. First, it discusses the characteristics and assumptions of individual stochastic frontier models that should be used in empirical studies. For example, it distinguishes “preferred” from “not-preferred” models based on the size of the panel data sample or the research purposes. Second, it discusses the characteristics of the sports industry and differentiates it from manufacturing industry, which is necessary when using stochastic frontier...Read more

Dirk G. Baur
Conor McKeating

This study analyzes the effects of initial public offerings (IPO) on the performance of European football clubs. We use a unique panel dataset consisting of domestic and international performance data to investigate a football club’s on-field performance before and after going public. The study finds that the performance of football clubs does not improve on average with or after an IPO. Only football clubs in lower divisions benefit from a stock market listing. At the international level, there is no evidence of an improved performance associated with the IPO. The findings are consistent...Read more