Superstar Salaries and Soccer Success: The Impact of Designated Players in Major League Soccer, принята к печати
This study estimates the relationship between production and salary structure in Major League Soccer (MLS), the highest level of professional soccer (association football) in North America. Soccer production, measured as league-points-per-game, is modeled as a function of a team’s total wage bill, the distribution of the team’s wage bill, and goals per game. Both the gini coefficient and the coefficient of variation are utilized to measure salary inequality. The results indicate that production in MLS is negatively responsive to increases in the salary inequality; the estimation model with the best fit uses the coefficient of variation to measure dispersion. Furthermore, MLS teams appear to be constrained in their choices of salary inequality by the salary cap and other regulations.
Using Major League Soccer as a unique dataset, this study examines the direct andindirect role of coaches’ experience in determining team performance. Inspired by labormarket studies, we applied traditional indicators of team salary structure and, unlikeprevious studies, empirically test the hypothesis that coach experience affects the way inwhich team salary distribution inuences performance. Our results suggest that coacheswith experience as professional soccer players improve team performance directly butworsen the negative effect of a skewed s alary distribution. Moreover, experience as aplayer is more important than coaching experience. (JEL D3, J3, M5)
We use eSports data to construct an empirical model to measure the effect of diversity on team performance. Different kinds of diversities are considered, diversity of culture, diversity of language and diversity of skill. Our main results are that cultural diversity is beneficial for team performance: the absence of diversity reduces performance by 30%. However, language and experience diversity negatively affect results. Taking the difference in the results into account, we conclude that firms should not thoughtlessly maximize team diversity: different kinds of diversity have different integration and communication costs.
Smoking is a problem, bringing signifi cant social and economic costs to Russiansociety. However, ratifi cation of the World health organization Framework conventionon tobacco control makes it possible to improve Russian legislation accordingto the international standards. So, I describe some measures that should be taken bythe Russian authorities in the nearest future, and I examine their effi ciency. By studyingthe international evidence I analyze the impact of the smoke-free areas, advertisementand sponsorship bans, tax increases, etc. on the prevalence of smoking, cigaretteconsumption and some other indicators. I also investigate the obstacles confrontingthe Russian authorities when they introduce new policy measures and the public attitudetowards these measures. I conclude that there is a number of easy-to-implementanti-smoking activities that need no fi nancial resources but only a political will.
One of the most important indicators of company's success is the increase of its value. The article investigates traditional methods of company's value assessment and the evidence that the application of these methods is incorrect in the new stage of economy. So it is necessary to create a new method of valuation based on the new main sources of company's success that is its intellectual capital.