Transfer Policy and Football Club Performance: Evidence from Network Analysis
This study considers the football transfer market as a network and analyzes how characteristics of a football club’s player transfer network activities influence club performance. We use data on 23,220 unique football clubs from 189countries from 1996 through 2016. Our results show that for sport performance the best strategy is to have well-established relations with a limited number of partner clubs, especially in the domestic league. However, transfer policy focused on international deals improves financial performance of football clubs. These findings provide club management with insights on optimal transfer policy with regard to the balance between sport and financial performance.
We consider a game equilibrium in a network in each node of which an economy is described by the simple two-period model of endogenous growth with production and knowledge externalities. Each node of the network obtains an externality produced by the sum of knowledge in neighbor nodes. Uniqueness of the inner equilibrium is proved. Three ways of behavior of each agent are distinguished: active, passive, hyperactive. Behavior of agents in dependence on received externalities is studied. It is shown that the equilibrium depends on the network structure. We study the role of passive agents; in particular, possibilities of connection of components of active agents through components of passive agents. A notion of type of node is introduced and classification of networks based on this notion is provided. It is shown that the inner equilibrium depends not on the size of network but on its structure in terms of the types of nodes, and in similar networks of different size agents of the same type behave in similar way.
In this paper, we consider the following problem - what affects the amount of investment in knowledge when one of the network firms enters another innovation network. The solution of this problem will allow us to understand exactly how innovative companies will behave when deciding whether to enter the innovation network of another country or region, what conditions affect it and how the level of future investments in knowledge can be predicted.
We consider a network model of production with externalities which describes a situationtypical for many economic, social, and political systems. In the first period of time each of the agents in the network receives endowment and distributes it between consumption and investment. In the second period the agent’s consumption depends on its own investment as well as on investments of its neighbors. The agent’s benefit is determined by its consumption in the two periods. We introduce adjustment dynamics into this model and study the problem of stability of the game equilibrium. An important factwhich we have discovered in our research is the special role of the conditions of the presence and the absence of productivity both in a static and in a dynamic framework. The specifics of the dynamics and the nature of the resulting equilibrium depend on the parameters of the model and on the character of the initial disturbance. We have found the instability of the inner equilibrium and have studied the convergence to a new corner equilibrium and the stability of the latter. The instability of the inner equilibria, which we found and the sources of which we study, is the property typical for social and economic systems. The presence of many social institutions can be explained by the wish of the members of the society to preserve the existing equilibria under the dynamic instability which would take place without such stabilizing institutions.
The article presents analysis of the impact of human resource management systems (HRM) on the financial performance of banks operating in the Russian market. The sample includes 67 banks with different organizational characteristics (nationality of capital, ownership, lo-cation of the head office, number of years of operation in the Russian market). The research is based both on qualitative (a survey of heads of HR services of banks) and quantitative (analysis of financial statements of banks). Data were collected in the period from 2011 to 2015. Initially, the main indicators characterizing the effectiveness of the HRM system (labor productivity and return on investment in human capital), as well as indicators of the financial performance of banks (return on assets and return on capital), were calculated. Further, with the help of the system of econometric equations, the impact of performance indicators of HRM systems on financial results of banks was determined. The study revealed that, on one hand, implementation of the functions of the HRM system does not have a positive impact on financial performance of the bank. At the same time, the impact of effects of some particular variables characterizing the HRM system itself (orientation on the strategic goals of the bank, the composition of the functions performed, the automation of functions, the flexibility and innovation of the HRM system, the amount of personnel costs) on performance of banks was revealed. So, the positive effect of the HRM system arises from its orientation towards the strategic goals of the bank, as well as with the use of electronic systems that automate the functions of HRM and thus improving the timing and quality of their implementation. Together, these variables, characterizing the HRM system, increase the return on investment in human capital. If the bank also achieves the flexibility and innovation of the HRM system, then labor productivity also increases. This, in turn, has a positive impact on the financial performance of banks.
The core problem considered in the article is dedicated to the revealing of project system elements, where the network modeling can be adopted to management. Using of Web of Science and ProQuest databases provided with the opportunity of publication activity statistics research and with the definite articles and other types of publications’ analysis for the search of basic directions of network theory adoption for project management. The identification of the most demanded and actual directions of network approach and social network analysis application to management of project system elements was fulfilled.
In this paper, we consider the following problem - what affects the Nash equilibrium amount of investment in knowledge when one of the complete graph enters another full one. The solution of this problem will allow us to understand exactly how game agents will behave when deciding whether to enter the other net, what conditions and externalities affect it and how the level of future equilibrium amount of investments in knowledge can be predicted.
In this paper, we consider the following problem - what affects the Nash equilibrium amount of investment in knowledge when some agents of the complete graph enter another full one. The solution of this problem will allow us to understand exactly how game agents will behave when deciding whether to enter the other net, what conditions and externalities affect it and how the level of future equilibrium amount of investments in knowledge can be predicted.
The paper examines the structure, governance, and balance sheets of state-controlled banks in Russia, which accounted for over 55 percent of the total assets in the country's banking system in early 2012. The author offers a credible estimate of the size of the country's state banking sector by including banks that are indirectly owned by public organizations. Contrary to some predictions based on the theoretical literature on economic transition, he explains the relatively high profitability and efficiency of Russian state-controlled banks by pointing to their competitive position in such functions as acquisition and disposal of assets on behalf of the government. Also suggested in the paper is a different way of looking at market concentration in Russia (by consolidating the market shares of core state-controlled banks), which produces a picture of a more concentrated market than officially reported. Lastly, one of the author's interesting conclusions is that China provides a better benchmark than the formerly centrally planned economies of Central and Eastern Europe by which to assess the viability of state ownership of banks in Russia and to evaluate the country's banking sector.
The paper examines the principles for the supervision of financial conglomerates proposed by BCBS in the consultative document published in December 2011. Moreover, the article proposes a number of suggestions worked out by the authors within the HSE research team.