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Identification of Factors Determining Market Value of the Most Valuable Football Players

Abstract

Purpose: The problem of identifying the most important determinants of the market value of football players is quite well described in the literature. There are many works that try to identify these factors. Some of them are focused on variables to make a set complete and others are on models and methods. The aim of this article is to present the variables influencing the valuation and to build an econometric model valuing footballers playing on the forward position, taking into consideration the assumptions of the econometric modelling. Such an approach indicates managers as other sources for obtaining information.

Methodology: Econometric models were used to verify the hypothesis formulated in this research. The database was created on the basis of variables presented on the website www.transfermarkt.de that presents the values of the most valuable football players in the world playing on the forward position. The Gretl program was used in the research.

Findings: The literature review showed that there are many independent variables having an impact on the value of the player. There are also many different models used to valuate footballers’ performance rights. The results of estimation of models in the research indicated that such factors as Canadian classification points adjusted the market value of the team and dummy variables describing “goodwill” (only for the best players) had an impact on the market value of footballers’ performance rights.

Limitations/implications: Information about different factors having an impact on football players’ market value could support the investment decision process of football managers.

Originality/value: The results were part of a study concerning economics of sport, particularly processes of management of football clubs and valuation of intangible assets.

Open access
Organizational Culture and Scale Development: Methodological Challenges and Future Directions

Abstract

Defining and measuring organizational culture (OC) is of paramount importance to organizations because a strong culture could potentially increase service quality and yield sustainable competitive advantages. However, such process could be challenging to managers because the scope of OC has been defined differently across disciplines and industries, which has led to the development of various scales for measuring OC. In addition, previously developed OC scales may also not be fully applicable in the hospitality and tourism context. Therefore, by highlighting the key factors affecting the business environment and the unique characteristics of hospitality industry, this paper aims to align the scope of OC closely with the industry and to put forth the need for a new OC scale that accurately responds to the context of the hospitality industry.

Open access
Multiculturality and Interculturality in Tourism

Abstract

There is a turmoil in Europe and the world as far as the terms multiculturality and interculturality are concerned and have been concerned in recent years. The overwhelming historical, political, cultural and economic changes that have shaken the whole world have brought about significant changes in otherwise relatively traditional societies and communities, as well, with a very important impact on people's lives not only in point of economy, but communication, attitude towards labour, personality traits, national security and others. All interpersonal relations have been tinted by the reaction towards some „buzz words” that are very popular nowadays; nevertheless, they are at the core of a tremendously huge process of changes in the mere life of European societies and communities.

In this environment, all economic activities that involve huge movements of individuals and masses (like tourism and hospitality) have experienced huge transformations; and if the ability and skill of making international communication mingle with the feeling of security encountered in a certain environment- these would definitely lead to a potential and real growth in that economic sector, including the third one of services.

We truly believe tourism is one of those, and good international relations, as well as strategic partnerships, contribute to its development.

In order to achieve results in tourism you only have to provide the following: secure environment, a competitive product, and good value for price services. It also helps if you have skilled employees, though.

Open access