Insolvency in Brazilian Football Clubs: Proposition of Models Based on Neural Networks

Detalhes bibliográficos
Autor(a) principal: Minatto, Fábio
Data de Publicação: 2021
Outros Autores: Borba, José
Tipo de documento: Artigo
Idioma: eng
por
Título da fonte: BBR. Brazilian Business Review (English edition. Online)
Texto Completo: http://www.bbronline.com.br/index.php/bbr/article/view/678
Resumo: The literature underlines that football clubs face financial problems, which can lead to insolvency. Existing models seek to predict insolvency for organizations in different sectors, but only recently have they been developed for European clubs. Thus, this study proposes insolvency prediction models for Brazilian football clubs. Based on the ranking elaborated by the Brazilian Football Confederation, we analyzed 35 football clubs that published their complete financial statements from 2011 to 2018. Financial and sports indicators were considered in the development of our neural networkbased models. Results indicated that the variables immediate liquidity, net working capital, asset turnover, and sports performance in the Brazilian Championship were significant for predicting insolvency in at least one of the developed models. This study contributes to the literature on football clubs’ insolvency by proposing accurate predictive models based on financial and sporting indicators.
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spelling Insolvency in Brazilian Football Clubs: Proposition of Models Based on Neural NetworksInsolvência em Clubes de Futebol Brasileiros: Proposição de Modelos Baseados em Redes NeuraisInsolvencyBrazilian Football ClubsNeural NetworksInsolvênciaClubes de Futebol BrasileirosRedes NeuraisThe literature underlines that football clubs face financial problems, which can lead to insolvency. Existing models seek to predict insolvency for organizations in different sectors, but only recently have they been developed for European clubs. Thus, this study proposes insolvency prediction models for Brazilian football clubs. Based on the ranking elaborated by the Brazilian Football Confederation, we analyzed 35 football clubs that published their complete financial statements from 2011 to 2018. Financial and sports indicators were considered in the development of our neural networkbased models. Results indicated that the variables immediate liquidity, net working capital, asset turnover, and sports performance in the Brazilian Championship were significant for predicting insolvency in at least one of the developed models. This study contributes to the literature on football clubs’ insolvency by proposing accurate predictive models based on financial and sporting indicators.A literatura aponta que clubes de futebol enfrentam dificuldades financeiras, o que pode levá-los à insolvência. Modelos buscam prevê-la para organizações de variados setores, mas apenas recentemente foram formulados para clubes europeus. Assim, este estudo tem como objetivo propor modelos de previsão de insolvência para clubes brasileiros de futebol. A partir do ranking elaborado pela Confederação Brasileira de Futebol, os 35 que divulgaram suas demonstrações contábeis e notas explicativas no período de 2011 a 2018 foram analisados. Vale-se de indicadores econômico-financeiros e esportivos bem como modelagem baseada em redes neurais para elaboração dos modelos. Os resultados indicam que as variáveis liquidez imediata, capital circulante líquido, giro do ativo e desempenho esportivo no Campeonato Brasileiro foram importantes na predição da insolvência em pelo menos um dos modelos. O estudo contribui para a literatura sobre insolvência de clubes de futebol por meio de modelos capazes de predizê-la com acurácia a partir de indicadores econômico-financeiros e esportivos.FUCAPE Business Shool2021-11-05info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionPeer-reviewed ArticleArtigo revisado pelos paresapplication/pdfapplication/pdfhttp://www.bbronline.com.br/index.php/bbr/article/view/67810.15728/bbr.2021.18.6.2Brazilian Business Review; Vol. 18 No. 6 (2021): November to December 2021; 624-642Brazilian Business Review; v. 18 n. 6 (2021): Novembro a Dezembro de 2021; 624-6421808-23861807-734Xreponame:BBR. Brazilian Business Review (English edition. Online)instname:Fucape Business School (FBS)instacron:FBSengporhttp://www.bbronline.com.br/index.php/bbr/article/view/678/1021http://www.bbronline.com.br/index.php/bbr/article/view/678/1022Copyright (c) 2019 Brazilian Business Reviewhttp://creativecommons.org/licenses/by/4.0info:eu-repo/semantics/openAccessMinatto, FábioBorba, José2021-11-08T15:04:11Zoai:ojs.pkp.sfu.ca:article/678Revistahttps://www.bbronline.com.br/index.php/bbr/indexONGhttp://www.bbronline.com.br/index.php/bbr/oai|| bbronline@bbronline.com.br1808-23861808-2386opendoar:2021-11-08T15:04:11BBR. Brazilian Business Review (English edition. Online) - Fucape Business School (FBS)false
dc.title.none.fl_str_mv Insolvency in Brazilian Football Clubs: Proposition of Models Based on Neural Networks
Insolvência em Clubes de Futebol Brasileiros: Proposição de Modelos Baseados em Redes Neurais
title Insolvency in Brazilian Football Clubs: Proposition of Models Based on Neural Networks
spellingShingle Insolvency in Brazilian Football Clubs: Proposition of Models Based on Neural Networks
Minatto, Fábio
Insolvency
Brazilian Football Clubs
Neural Networks
Insolvência
Clubes de Futebol Brasileiros
Redes Neurais
title_short Insolvency in Brazilian Football Clubs: Proposition of Models Based on Neural Networks
title_full Insolvency in Brazilian Football Clubs: Proposition of Models Based on Neural Networks
title_fullStr Insolvency in Brazilian Football Clubs: Proposition of Models Based on Neural Networks
title_full_unstemmed Insolvency in Brazilian Football Clubs: Proposition of Models Based on Neural Networks
title_sort Insolvency in Brazilian Football Clubs: Proposition of Models Based on Neural Networks
author Minatto, Fábio
author_facet Minatto, Fábio
Borba, José
author_role author
author2 Borba, José
author2_role author
dc.contributor.author.fl_str_mv Minatto, Fábio
Borba, José
dc.subject.por.fl_str_mv Insolvency
Brazilian Football Clubs
Neural Networks
Insolvência
Clubes de Futebol Brasileiros
Redes Neurais
topic Insolvency
Brazilian Football Clubs
Neural Networks
Insolvência
Clubes de Futebol Brasileiros
Redes Neurais
description The literature underlines that football clubs face financial problems, which can lead to insolvency. Existing models seek to predict insolvency for organizations in different sectors, but only recently have they been developed for European clubs. Thus, this study proposes insolvency prediction models for Brazilian football clubs. Based on the ranking elaborated by the Brazilian Football Confederation, we analyzed 35 football clubs that published their complete financial statements from 2011 to 2018. Financial and sports indicators were considered in the development of our neural networkbased models. Results indicated that the variables immediate liquidity, net working capital, asset turnover, and sports performance in the Brazilian Championship were significant for predicting insolvency in at least one of the developed models. This study contributes to the literature on football clubs’ insolvency by proposing accurate predictive models based on financial and sporting indicators.
publishDate 2021
dc.date.none.fl_str_mv 2021-11-05
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
Artigo revisado pelos pares
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://www.bbronline.com.br/index.php/bbr/article/view/678
10.15728/bbr.2021.18.6.2
url http://www.bbronline.com.br/index.php/bbr/article/view/678
identifier_str_mv 10.15728/bbr.2021.18.6.2
dc.language.iso.fl_str_mv eng
por
language eng
por
dc.relation.none.fl_str_mv http://www.bbronline.com.br/index.php/bbr/article/view/678/1021
http://www.bbronline.com.br/index.php/bbr/article/view/678/1022
dc.rights.driver.fl_str_mv Copyright (c) 2019 Brazilian Business Review
http://creativecommons.org/licenses/by/4.0
info:eu-repo/semantics/openAccess
rights_invalid_str_mv Copyright (c) 2019 Brazilian Business Review
http://creativecommons.org/licenses/by/4.0
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
application/pdf
dc.publisher.none.fl_str_mv FUCAPE Business Shool
publisher.none.fl_str_mv FUCAPE Business Shool
dc.source.none.fl_str_mv Brazilian Business Review; Vol. 18 No. 6 (2021): November to December 2021; 624-642
Brazilian Business Review; v. 18 n. 6 (2021): Novembro a Dezembro de 2021; 624-642
1808-2386
1807-734X
reponame:BBR. Brazilian Business Review (English edition. Online)
instname:Fucape Business School (FBS)
instacron:FBS
instname_str Fucape Business School (FBS)
instacron_str FBS
institution FBS
reponame_str BBR. Brazilian Business Review (English edition. Online)
collection BBR. Brazilian Business Review (English edition. Online)
repository.name.fl_str_mv BBR. Brazilian Business Review (English edition. Online) - Fucape Business School (FBS)
repository.mail.fl_str_mv || bbronline@bbronline.com.br
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