Inversión en Talento y Visibilidad Mediática: un Estudio del Fútbol Profesional en Europa

In this paper we empirically analyse the factors explaining the
degree of media visibility in four major European football leagues,
by means of an econometric model in which the dependent variable
(media visibility of clubs) is estimated on the basis of the relative and
aggregate wages of the competition. Controlling for other factors, the
analysis enables us to study the way in which a club could improve its
media exposure through greater investment in talent. By applying the
Blinder-Oaxaca decomposition, we furthermore examine the extent
to which differences between football clubs regarding interest in the
media is due to varying resources allocations, or else to an increased
media attention (estimated ‘betas’) as a reaction to changes in such
allocations. Our findings suggest that a club’s media visibility is greatly
determined by its environment, that is, by the domestic competition
in which it participates. Finally, policy implications that may be drawn
from these findings are discussed.