
P G F C 179
SIZE variable is 1.09 signicant at the 0.01 level verifying our assumption that
large clubs may be able to generate superior performance since they can exploit
economies of scale and organize their activities more eciently resulting into in-
creased prot streams compared to small clubs. Furthermore, the positive and
signicant coecients on both the AT and ROA variables (5.78 and 1.32 both
statistically signicant) indicates that the ability of football clubs to convert assets
into cash can help them to use their resources quickly so as to achieve higher levels
of protability. Finally, among the ...