Measurement and evaluation of managerial efficiency in English league football : a stochastic frontier analysis
[From the introduction]: The thesis is organised as follows. In Chapters 1 and 2 we present a review of the existing literature. Chapter 1 analyses the role of incentives and human capital attributes as mechanisms for determining performance. Much of the previous literature analyses manager performance using wage equations. What is unique in our approach is that we are able to generate a direct measure of managerial performance. The background to the methodology used is provided in Chapter 2. Here we explore the growing literature on production frontier analysis. We are particularly interested in the available estimation procedures and how previous sports studies have utilised this framework in estimating efficiency. A discussion of the football industry is the focus of Chapter 3, while in Chapter 4 we develop the theoretical model of manager performance. Data and methodological issues are addressed in Chapter 5. Chapters 6 and 7 contain the empirical results. In Chapter 6 we generate managerial efficiency scores and consider how alternative input and output measures and alternative estimation procedures affect these scores. Using the preferred model from Chapter 6, Chapter 7 provides a detailed account of how human capital factors and incentives shape efficiency and some preliminary results as to whether the manager actually matters. Finally, Chapter 8 provides some conclusions and recommendations in the light of the empirical results.