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Permanent URI for this collectionhttps://rses.ince.md/handle/123456789/1827

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Author: search.filters.author.Migliaccio, GuidoStart date: 2020

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    Profitability and financial structure of European soccer clubs: a first international comparison
    (INCE, 2024) Migliaccio, Guido; Preziosi, Luca
    Soccer is not only a sport and a spectacle but has also become a real business, to be managed appropriately. The sector is economically important in many countries and requires academics’ attention. This research analyses the economic and financial dynamics of a sample of prominent soccer clubs in ten European countries where soccer is widespread. Literature review. There are numerous managerial studies of soccer sports enterprises. Few, however, have measured economic and financial performance based on balance sheets, making an international comparison. Research methodology. The financial statements of 10 soccer clubs for 2013-2022 were analysed, illustrating the average employee trend as an indicator of company size, Roe, and financial leverage. We subjected the data to statistical processing and used the ANOVA and Tukey-Kramer methods to compare the teams. Main results. The companies analysed have significant differences in size concerning the workforce. Profitability is almost always low, presumably due to high management costs for the most renowned players. Indebtedness is high. There are significant differences between countries. This study implements the economic literature on companies in the sport. Public policies should consider the sector relevant to many European nations’ economies and leisure time.
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    Profitability and financial structure of soccer clubs: an international comparison
    (INCE, 2022) Migliaccio, Guido; Orsillo, Giuseppe
    The pandemic has greatly affected the economies of all nations. Sport, too, has suffered the consequences of the measures necessary to contain the infection, with obvious consequences on clubs' budgets. Proposal - The study analyses the financial performance of a sample of soccer teams in the leagues of three European nations: Italy Spain and Germany. It highlights the ten-year trend of profitability and financial structure. This is also to verify the impact of the pandemic on the balance sheets of the major soccer clubs. Methodology - From the Orbis Europe full database of the Bureau van Dick database, the balance sheet data for 10 consecutive years of the decade 2012-2021 of the 10 most representative teams of the Italian, Spanish and German leagues were taken. Subsequently, the development of Roe and Leverage was analysed. The data were also subjected to various statistical elaborations mainly to verify whether the differences between the three nations are significant. Results - In recent years, there has been a much smaller decline in profitability in Spain and Germany, rather than in Italy, where the results have been truly disastrous. On the contrary, a progressive improvement in the financial structure can be noted, especially in the Italian clubs, which have recorded worrying values over time. The Italian clubs, however, although very renowned, have too often had worse outcomes over the decade than the teams of the other two nations. Implications - This study implements the literature on the effects of the pandemic on the economy, especially in sports. It encourages comparisons in time and space of budgets. It will be necessary to implement the research by analysing the trend of other indices as well to have more detailed information. However, the results are useful for the governance of European soccer clubs and also for public authorities that often support sports activities that are considered socially relevant. This is also at a time when refreshments were needed to cope with the damage resulting from the pandemic.
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    Profitability and financial structure of italian real estate companies: quantitative profiles
    (INCE, 2022) Migliaccio, Guido; De Palma, Andrea
    The pandemic has had devastating effects on real estate companies. The sector is economically important in many countries and therefore needs special attention. Purpose - This research analyses the economic and financial dynamics of Italian real estate companies before and during the pandemic. This is also to outline possible relaunch strategies, post Covid-19. Research methods - The balance sheets of 1,559 Italian companies, with a turnover exceeding € 800,000, for the decade 2011-2020 were analysed. The average trends of Roe and the Financial Independence Ratio were then illustrated, for Italy and each of its macro-areas (North, Centre, and South). The data were subjected to statistical processing. The Anova and Tukey-Kramer methods were used for the comparison between macro-regions. Results - ROE decreased in the years 2012-2013, presumably due to the reverberations of the 2008 crisis. Then it improved, with a decline due to the pandemic, but this was not generalised. Roe has always been positive. There are no significant differences between the different geographical areas. There is evidence of a good financial situation, which has improved over time. Implications - This study implements the modest economic literature on real estate companies. Quantitative research highlights the gains that justify the presence of numerous companies. Public policies should be attentive to the sector that implements the national GDP. The Italian situation can be a useful reference for all countries that want to develop the real estate market.
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    The integrated web portal “Lacucinacampana.IT” for rural development: an evolving project
    (INCE, 2023) Migliaccio, Guido; Lausi, Carmine; Baldi, Mariano
    Rural areas in Italy account for more than 90% of the national land area: in many of them, which are mainly dedicated to agriculture, poor socio-economic development is causing depopulation phenomena, so new means must be sought to develop the agri-food sector. The study highlights the role of ICT in the development of rural areas, describing, in particular, the functions of an innovative web portal that promotes typical food and “food & wine” tourism. Case study. We describe the design of the new web portal 'lacucinacampana.it', relating to a southern Italian region (Campania), which is, however, exportable to any area wishing to promote agri-food products. The portal intends to offer in an integrated manner all contents related to typical food from Campania: food products with their suppliers, local dishes with the restaurateurs that offer them, associated places with their tourist attractions, itineraries, food and wine experiences. All content is available in 11 languages to expand the online market and facilitate foreign tourists in Italy. The portal promotes the sale of typical food products and wine and food tourism, which are fundamental levers for the development of rural areas. This study complements the modest literature on portals used for agricultural development. It can act as a driver for fur ther developments in ICT technologies for agricultural development. The research highlights significant potential for gains for the suppliers registered for the portal, which should be brought to the attention of public policy and trade associations.
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    Profitability and financial structure of bathing establishments: an initial international comparison
    (INCE, 2023) Migliaccio, Guido; Meninno, Miriam
    The pandemic has had a devastating effect on tourism, although it has subsided during the summer months. The sector is economically important in many countries, where bathing is a major attraction. Purpose: The research analyses the economic and financial dynamics of bathing establishments over the last decade in three European nations where bathing tourism is widespread: Italy, Spain, and Portugal. Research Methods: The financial statements of a sample of 5,382 bathing establishments, mainly Italian, for the decade 2012-2021 were analysed, illustrating the average trend in Profit Margin and Financial Leverage. The data were subjected to statistical processing. The ANOVA and Tukey-Kramer methods were used for cross-country comparisons. Results: The companies analysed are all small in the number of employees. They have an uneven profit margin, especially in the Iberian nations. Spain was most affected by the pandemic. There are no significant differences between the different geographical areas concerning profitability, which has a more constant trend in Italy. The financial situation is unstable over the decade considered, as the leverage values, expressed in percentage terms, show excessive indebtedness. There are evident significant differences between the countries examined, with Spain being the area most different. Implications: This study implements the modest economic literature on these companies. Quantitative research highlights the high profits that justify proliferation. Public policies should be attentive to the sector that implements the national GDP. The Italian situation, where establishments are more widespread than in the other two countries, can be a useful reference for all countries that want to exploit their coasts for tourism.
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    Profitability and financial structure of tour operators: an initial international comparison
    (INCE, 2023) Migliaccio, Guido; Calvanese, Maria
    The pandemic had a devastating effect on tourism, even though it subsided during the summer months. The sector is economically important in many countries. Purpose: The research analyses the economic and financial dynamics of tour operators over the last decade in three European countries where tourism is widespread: Italy, France, and Spain. Research Methods: The financial statements of a sample of 4,044 tour operators (1043 Italian, 2340 French, 661 Spanish) for the ten years 2012-2021 were analysed, illustrating the average trend of Return on Equity (Roe) and Financial Leverage. The data were subjected to statistical processing. Anova and, where necessary, Tukey-Kramer methods were used for the comparison between countries. Results: Roe followed a similar trend in the three nations that were most affected by the pandemic. The financial situation was more erratic but equally similar. Implications: This study implements the modest economic literature on these companies. Quantitative research shows significant gains only in some periods and in some countries. Public policies should be attentive to the tourism-enhancing sector by building packages.