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Following consistent and rapid general economic growth, Pacific Rim countries have grown as a major force in sports. Australia, China, Japan and Korea populated the top ten medals list at the 2012 London Olympics. Pacific Rim countries are major consumers of international sports and domestic professional sports have expanded continuously over time. Nippon Professional Baseball and the Korean Baseball Organization are the second and third largest baseball leagues measured by attendance and revenue following Major League Baseball in the U.S. This book also includes event studies of team ownership, assessment of human capital markets, analysis of the relationship between attendance and competitive balance, the components of fan demand in common the world over, and business decisions concerning attendance and pricing. There is already demand for comprehensive study of the sports business in the Pacific Rim as witnessed by this growth. This book will be of interest of researchers studying and/or teaching in the fields of sports economics and sports management as well as a general audience interested in business governance around the world.

AbstractThis study assessed the factors allowing middle‐income countries to achieve higher income levels and thus escape the middle‐income trap (MIT). By deriving a stochastic production function using the Cornwell–Schmidt–Sickles (CSS) estimator and country panel data, we successfully distinguished between growth due to total factor productivity (TFP) and that attributable to various production inputs after controlling for random shocks and cross‐sectional dependence. We found that TFP growth was the main factor distinguishing middle‐income countries that have and have not escaped from the MIT; the former countries had significantly higher TFP growth.

AbstractStructural break points in the First Division/English Premier League time series of competitive balance identify an Early Period, a Pre‐World War II Period, a Post‐War Period, and a Modern Period. The Early Period corresponds to technology diffusion (defense and tactics) along with important economic structural imposition by leagues. The war periods are common to many time series. The Modern Period's sharp decline in balance corresponds to the newest version of the Champions League in 1994/1995 and the Bosman Ruling of 1995. Rottenberg's invariance principle suggests that it would be the former, rather than the latter, responsible for the historical rate of decline that follows this structural break.

ABSTRACTThis paper seeks to re‐examine the issue of estimating team efficiency for sports teams via an application of data from the National Basketball Association. This paper argues that the inputs the coaches allocate are the players the team employs. Therefore, this paper employs a measure of playing talent in modeling team production. Unlike previous studies, which only employed one measure of playing talent, we employ measures of guards, small forwards and big men in a study of basketball. This paper also argues that the time‐varying stochastic frontier models with the identical temporal pattern assumption such as Lee and Schmidt and Battese and Coelli cannot be used in the analysis of team efficiency in sports. The evidence we present shows by hypothesis test that this argument holds.

ABSTRACTThis paper seeks to re-examine the issue of estimating team efficiency for sports teams via an application of data from the National Basketball Association. This paper argues that the inputs the coaches allocate are the players the team employs. Therefore, this paper employs a measure of playing talent in modeling team production. Unlike previous studies, which only employed one measure of playing talent, we employ measures of guards, small forwards and big men in a study of basketball. This paper also argues that the time-varying stochastic frontier models with the identical temporal pattern assumption such as Lee and Schmidt and Battese and Coelli cannot be used in the analysis of team efficiency in sports. The evidence we present shows by hypothesis test that this argument holds.

There is evidence that attractive looking workers earn more than average looking workers, even after controlling for a variety of individual characteristics. The presence of such beauty premiums may influence the labor supply decisions of attractive workers. For example, if one unit of a product by an attractive worker is more rewarded than that by her less attractive coworker, the attractive worker may put more effort into improving her productivity. We examine this possibility by analyzing panel data for individual female golfers participating in the Ladies Professional Golf Association (LPGA) tour. We found that attractive golfers recorded lower than average scores and earn more prize money than average looking players, even when controlling for player experience and other variables related to their natural talents. This finding is consistent with the notion that physical appearance is associated with individual workers' accumulation of human capital or skills. If the human capital of attractive workers is at least partly an outcome of favoritism toward beauty, then the premium estimates obtained by previous studies may have been downwardly biased. (JEL J3, J7, L8)

AbstractTotal factor productivity growth of the five ASEAN founding members is estimated by decomposing total factor productivity growth into technical efficiency and technological progress. By using the stochastic frontier model with individual‐specific temporal pattern of technical efficiency for the period of 1981–2003, the present paper identifies the unique temporal pattern of productivity changes in each country, to analyze the relationship between country characteristics and the inherent efficiency and productivity changes. The empirical results indicate that over the study period, growth in Singapore and Malaysia was largely driven by both technological progress and input accumulation, whereas growth in Thailand was induced by an improvement in technical efficiency and through input accumulation.

This study estimates an aggregate production function of manufacturing industry using panel data of 11 Korean regions covering 1977–1992. While the previous studies regard infrastructure as a direct input for production, the present study proposes that infrastructure has an effect on actual output by enhancing technical efficiency thereby, reducing the gap between maximum potential output and actual output. To investigate the relationship between infrastructure and technical efficiency, a stochastic frontier approach is applied to Korean manufacturing industry. Confirming the presence of substantial technical inefficiency in production, this study shows that an increase in infrastructure reduces the technical inefficiency level. The study also finds that, contrary to expectation, the industrialized regions are less efficient than the less industrialized ones. (JEL O20, H54, C23)