House price convergence: Evidence from US state and metropolitan area panels

We study house price convergence in panels of US states and metropolitan areas. Our analysis is centered on three issues. First, we test whether the US house prices are converging over time using log t convergence test by Phillips and Sul (2007). The test results suggest that there is little evidence of overall convergence. The second issue is to investigate the possibility of a convergence club where the cross-sectional dispersion of house prices of the club members decreases over time. We utilize a clustering algorithm and the results support that there is strong evidence of multiple convergence clubs. Finally, we examine the general characteristics of the various convergence and divergence subgroups as well as some important driving forces of convergence clubs. We find that housing supply regulation together with climate are important determinants of convergence club membership.     

我国公共体育场馆的财务管理分析

文章通过对我国现行的体育馆财务管理意义的分析,从场馆的前期建设到日常的管理和赛事运营、场馆出租、场馆的冠名权无形资产开发等各个环节出发,提出了做好体育场馆前期投资预算、融资渠道选择、运营成本控制、收益核算等工作的方法和建议。     

Technical efficiency with multi-output,heterogeneous production: a latent class,distance function model of english football

This study combines the output distance function approach with a latent class model to estimate technical efficiency in English football in the presence of productive heterogeneity within a stochastic frontier analysis framework. The distance function approach allows the researcher to estimate technical efficiency including both on-field and off-field production, which is important in the case of English football where clubs are generally thought to maximize something other than profit. On-field production is measured using total league points, and off-field production is measured using total revenue. The data set consists of 2177 club-level observations on 88 clubs that competed in the four divisions of professional football in England over the 29-season period from 1981/82 to 2009/10. The results show evidence of three separate productivity classes in English football. As might be expected, technical efficiency estimated using the latent class model is, on average, higher than technical efficiency using an alternative method which confines heterogeneity to the intercept coefficient. Specifically, average efficiency for the sample is 87.3 and 93.2% for the random-intercept model and the latent class model respectively.     

Is there convergence amongst shadow economies? International evidence

This paper examines convergence among cross-country shadow economies. Using the Phillips-Sul (2007, 2009) club convergence approach and data for over 150 countries from 1991 to 2017, the results show evidence against absolute convergence for all shadow economies; however, we find evidence of multiple convergence clubs. In particular, we find evidence for seven distinct convergence clubs and six divergent shadow economies. Each club is characterised by an increasingly larger shadow economy with the countries in club 1 having the largest shadow economy and those in club 7 having the smallest shadow economy. Using a two-way fixed effects approach, we also find that the determinants of the shadow economy are somewhat conditional on the convergence club. The existence of multiple equilibria suggests that policy makers in their attempt to combat the shadow economy would benefit by considering the different transitional paths associated with the different convergence clubs.     

基于多方利益的大型体育场馆融资模式探讨

本文列举了大型公共设施建设中特别是大型体育场馆所采用的融资模式,并对各种融资模式进行了较为具体的分析,同时对建成后的大型体育场馆所采用的运营方式进行了总结和分析。     

我国大型体育场馆建设与营运的价值工程思维分析

针对大型体育场馆在建造和运营中的巨额支出,以及大赛后存在的闲置现象,运用价值工程思想分析体育场馆设计、建造和使用的特点,提出大型体育场馆建筑设计应为多功能化空间设计和智能化建筑设计,注重经营开发,降低成本,满足公众的体育休闲消费需求,最大程度增进场馆价值。     

高校体育场馆社会效益与经济效益关系的研究

高校体育场馆斥巨资建设的各种体育设施不但未被充分利用,还增加了维修和管理经费的投入,大多局限于日常的体育教学、训练,缺乏与社会的交流合作。怎样使高校体育场馆社会效益与经济效益得到发展,取得双赢,已经成为了一个急待解决的问题,文章对高校体育场馆产生的经济效益和社会效益及二者之间的联系、体育场馆运营过程中应注意的问题进行了探讨。     

Entrepreneurial orientation in sports entrepreneurship - a mixed methods analysis of professional soccer clubs in the German-speaking countries

In recent years, sports entrepreneurship has emerged as a promising discipline in the field of sports management research. However, the research field is still fragmented. This study gives an overview of sports entrepreneurship and coopetition research and is the first work analyzing EO and performance in professional sports. First, quantitative results about EO, organizational performance and coopetition of 22 professional soccer clubs were obtained. Following the mixed method approach, the data was then extended by qualitative expert interviews. Entrepreneurial orientation had a significant positive relationship with both financial and sporting performance of professional soccer clubs in German-speaking countries during the 2017/18 season. We suggest coopetition as a promising strategy for professional soccer clubs to succeed. Hence, our study fosters the concept of sports entrepreneurship and offers evidence that entrepreneurial orientation is a well-suited managerial approach to enhance organizational performance in professional soccer.

     

Hidden monopsony rents in winner‐take‐all markets—sport and economic contribution of Spanish soccer players

In labor markets where few companies compete for many workers, economic theory predicts monopsony rents. Surprisingly, soccer clubs do not profit from the expected rents. The purpose of this study is to explain such contradictory evidence. Our model and empirical test, using data obtained from the Spanish professional soccer league for the season 2001/2002, suggests that monopsony rents that the clubs were to obtain from most of the soccer players would eventually revert to the superstars. The study also illustrates that the market value of players stems both from their sporting performance and their economic contribution. Copyright © 2007 John Wiley & Sons, Ltd.     

学校体育场馆资源中的问题研究

体育场馆资源是体育产业领域中的一个重要组成部分,是体育事业发展的重要物质保障。本文对制约学校体育场馆面向社会开放问题进行分析,探讨学校体育场馆发展的途径。     

Student clubs: experiences in entrepreneurial learning

Student-led clubs that seek to enhance entrepreneurial learning can be found in many universities. Yet, like many areas of extra-curricular activity in entrepreneurship education, their role in supporting learning has not been researched widely. The paper introduces research that addresses this gap and investigates the nature of the learning process student's encounter when they take part in clubs. The study explores the literature on entrepreneurial learning; it examines the different concepts and considers their contribution to understanding student learning experiences. From the literature, a conceptual framework is presented, highlighting the key aspects of entrepreneurial learning relevant for the field research. The methodology is introduced, including a series of qualitative studies and a survey of students. The study focuses on two types of student-led clubs ‘entrepreneurship clubs’ and ‘Enactus clubs’ and provides a comparative analysis. The findings reported show a range of student learning benefits that simulate important aspects of entrepreneurial learning, such as learning by doing, learning through mistakes and learning from entrepreneurs. More nuanced findings are also presented showing differences in learning benefits between club forms and heighten benefits for students taking leadership roles. Ultimately, the paper contributes to research in entrepreneurship by illustrating how student clubs support entrepreneurial learning.     

Asymptotically perfect and relative convergence of productivity

In this paper we examine the extent to which countries are converging in per capita productivity levels. We propose to use cluster analysis in order to allow for the endogenous selection of converging countries. We formally define convergence in a time series analytical context, derive the necessary and sufficient conditions for convergence, and introduce a cluster analytical procedure that distinguishes several convergence clubs by testing for these conditions using a multivariate test for stationarity. We find a large number of relatively small convergence clubs, which suggests that convergence might not be such a widespread phenomenon. Copyright © 2000 John Wiley & Sons, Ltd.     

我国普通高校体育俱乐部发展若干问题研究

普通高校发展体育俱乐部是体育教学训练的需要,也是高校学校体育改革多年实践探索的成功产物,但是体育俱乐部在发展过程中也出现了各种各样的问题。笔者运用文献资料、专家访谈、实证调查等研究方法对目前我国普通高校体育俱乐部发展中出现的主要问题进行讨论和分析,旨在为优化我国普通高校体育俱乐部的发展提供一些有益的参考。     

高校体育场馆网络虚拟营销可行性研究

随着全民健身运动的推广,我国体育锻炼人口大幅增加,公共运动场地缺乏的问题随之暴露出来,严重制约了我国群众体育的进一步发展。随着高等教育的普及,我国高校拥有的体育场馆数量不断增加,但是普遍存在利用率低下、使用形式单一、管理混乱等情况。如果将高校体育场馆充分利用起来为全民健身运动服务,既能解决公共运动场地缺乏的问题,又能改善高校体育场馆目前的弊端,达到双赢的局面。本研究重点探讨如何在互联网上构建一个整合全部高校场馆资源供广大群众使用的网络平台,真正实现高校体育场馆为群众体育服务的目标,同时为高校体育产业的发展提供新的思路。     

An Analysis of Consumer Response to Corruption: Italy's Calciopoli Scandal

The Calciopoli episode affecting Italian football in the 2005–6 season serves as an opportunity for an empirical investigation into consumer (fan) behavior, following league‐imposed punishments on clubs whose officials were found guilty of corrupt practices. Using a difference‐in‐differences estimation method, we find that home attendances for convicted teams fell by around 16%, relative to those clubs not subject to punishment. We show further that the fall in attendances resulted in non‐trivial gate revenue reductions. Our results suggest that a sizeable number of fans of the punished clubs were subsequently deterred from supporting their teams inside the stadium.     

Efficient agglomeration of spatial clubs

We investigate here the agglomeration of spatial clubs in an efficient allocation of a club economy. The literature on agglomeration has focused largely on a primary agglomeration caused by direct attraction forces. We concentrate mainly on secondary and tertiary agglomerations caused by a primary agglomeration. Initially, scale economies in the provision of club goods (CGs) lead each CG to agglomerate in facilities of its club. This primary agglomeration causes a secondary concentration of population around these facilities, which in turn brings about a tertiary agglomeration of facilities of different clubs into centers in the midst of population concentration. The agglomeration of facilities occurs only if a secondary concentration of population takes place. We analyze in detail two specific patterns of agglomeration. One is the central location pattern in which the facilities of all clubs agglomerate perfectly in the middle of the complex. The second is a triple-centered complex in which the center in the middle of the complex consists of perfectly agglomerated facilities of different clubs, each with a single facility per complex. The remaining two centers also consist of facilities of different clubs, but clubs in these centers each have two facilities per complex, one in each center. Each of these two centers is located between a boundary and the middle of the complex closer to the middle of the complex than to the boundary. The facilities in these two centers form condensed clusters of facilities that may contain residential land in between the facilities. We then show that these agglomeration patterns also characterize agglomerations in general. The literature maintains that an efficiently behaving municipality increases its tax-base. This implies that it is in the municipality’s interest to achieve efficiency. The best way for a local government to achieve this desired efficiency is by partially intervening in market operations in order to internalize local externalities. Such an intervention should be limited to providing the city’s infrastructure, to taxing only residential land rents and clubs’ profits, to subsidizing the basic industry of the city, and to partially regulating land uses. Consequently, if the local governments of all complexes behave according to the above, the decentralization of the efficient allocation of the club economy would be attained.     

Critique of p-Values

This paper generalizes the notion of p-value to obtain a system for assessing evidence in favor of an hypothesis. It is not quite a quantification in that evidence is a pair of numbers (the p-value and the p-value with null and alternative interchanged) with evidence for the alternative being claimed when the first number is small and the second is at least moderately large. Traditional significance tests present p-values as a measure of evidence against a theory. This usage is rarely called for since scientists usually wish to accept theories (for the time being) not just not reject them; they are more interested in evidence for a theory. P-values are not just good or bad for this purpose; their efficacy depends on specifics. We find that a single p-value does not measure evidence for a simple hypothesis relative to a simple alternative, but consideration of both p-values leads to a satisfactory theory. This consideration does not, in general, extend to composite hypotheses since there, best evidence calls for optimization of a bivariate objective function. But in some cases, notably one sided tests for the exponential family, the optimization can be solved, and a single p-value does provide an appealing measure of best evidence for a hypothesis. One possible extension of this theory is proposed and illustrated with a practical safety analysis problem involving the difference of two random variables.     

Bayesian forecasting of UEFA Champions League under alternative seeding regimes

The evaluation of seeding rules requires the use of probabilistic forecasting models both for individual matches and for the tournament. Prior papers have employed a match-level forecasting model and then used a Monte Carlo simulation of the tournament for estimating outcome probabilities, thus allowing an outcome uncertainty measure to be attached to each proposed seeding regime, for example. However, this approach does not take into account the uncertainty that may surround parameter estimates in the underlying match-level forecasting model. We propose a Bayesian approach for addressing this problem, and illustrate it by simulating the UEFA Champions League under alternative seeding regimes. We find that changes in 2015 tended to increase the uncertainty over progression to the knock-out stage, but made limited difference to which clubs would contest the final.     

Optimal city size,land tenure and the economic theory of clubs

In this paper, a connection is made between urban population size in the presence of increasing returns to scale, and the economic theory of clubs. It is shown that under certain conditions, the optimal size of the population is finite and that collective action are transferable concepts from the theory of clubs. The model is also solved in a closed format, i.e., including rent payments as part of total income, under two redistribution schemes. It is shown that the optimal size of the population is independent of the mode of ownership of the urban residential land, when the transportation cost function is linear.     

Valuation of ticket prices for first-division football matches in the Spanish league

This paper measures the optimal prices of football tickets and investigates the pricing strategy of the first-division teams in the Spanish league during the 2018/2019 season. The paper develops a dual hybrid model of supply and demand based on a hedonic price approach. Fans have multiple motivations to attend the stadium, such as the quality of the opposing teams, the pre-match qualifying position, the schedule, the day of the match, the stadium facilities, and the atmosphere. Their final decision will be conditioned by the price set by the clubs. The data show a difference of almost 300% in ticket prices among clubs. The estimation results from a hedonic price equation reveal that an optimal pricing strategy is followed by only five out of 20 clubs in the league. We also quantify the percentage of overvaluation or undervaluation of ticket prices.