WHY DO SPANISH FOOTBALL CLUBS SUCCESS IN THEIR INSOLVENCY PROCEEDINGS?

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Published: 2015-10-31

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Manuel Rico
Economista. Grupo Leopoldo Pons
Francisco Puig
University of Valencia, Spain
http://orcid.org/0000-0002-0502-7363

Abstract

In the present paper we analyze the reasons behind the high success rate in the football clubs insolvency proceedings. The Spanish insolvency scenario has shown elevated fail rates (higher than 90%), evidencing notable weaknesses. Conversely, football clubs have successfully overcome their legal insolvency situations in the great majority of cases, and the results of our paper prove that (i) a financial structure less concentrated in secured credits (particularly secured financial institutions) than the rest of firms, and (ii) the systematic support given by public administrations (voting in favor of their proposals) have provided such outcome. Additionally, this occurs in a context in which public administrations have shown their reticence to give support to the rest of insolvent firms, while others (football clubs) receive it even though they present poorer management indicators.

Article Details

Issue

No. 48 (2015): Fourth Quarter

Section

Management and Business Strategy

Author Biography

Francisco Puig, University of Valencia, Spain

Francisco Puig es Titular de Universidad y antiguo Director del Máster en Estrategia de Empresa (2012-14) del Departamento de Dirección de Empresas (Universidad de Valencia). Hizo su doctorado en Ciencias Económicas y Empresariales con Premio Extraordinario. Cuenta con una amplia experiencia docente en Grado y Postgrado, y en la dirección y tutorización de Proyectos, Trabajos y Tesis Doctorales. Ha sido profesor visitante en HEC-Montreal (Canadá), Manchester Business School y King’s College London (UK). Está especializado en Estrategia, Internacionalización, Turnaround y Clusters/Distritos Industriales. Ha publicado casi medio centenar de trabajos, algunos de ellos en revistas líderes (Management International Review, International Journal of Operations & Production Management; International Business Review, European Journal of Operational Research, etc.) así como capítulos y libros en prestigiosas editoriales (“Territory, Specialization and Globalization in European Manufacturing Firms”, ed.: Routledge”, Taylor & Francis Group). Está afiliado a ACEDE, EIBA, EURAM y MOTIVA (Red Iberoamericana de Universidades y Emprendimiento). Coordina el Grupo de Investigación GESTOR (Geo-estrategia Organizacional: Clusters y Competitividad).

How to Cite

WHY DO SPANISH FOOTBALL CLUBS SUCCESS IN THEIR INSOLVENCY PROCEEDINGS?. (2015). UCJC Business and Society Review (formerly Known As Universia Business Review), 48. https://journals.ucjc.edu/ubr/article/view/1320

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