Insolvency in Brazilian Football Clubs: Proposition of Models Based on Neural Networks by Fábio Minatto, José Alonso Borba

“…Based on the ranking elaborated by the Brazilian Football Confederation, we analyzed 35 football clubs that published their complete financial statements from 2011 to 2018. …”
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Efficiency Determinants in Brazilian Football Clubs by Marcelo Machado de Freitas, Rafael Araújo Sousa Farias, Leonardo Flach

“…To achieve this goal, we applied quantitative methods including Data Envelopment Analysis and Tobit regression modeling to data on the best clubs from 2012 to 2014, according to the Brazilian Football Confederation ranking. The results allowed for the inference that the largest Brazilian clubs, such as Grêmio (RS), Palmeiras (SP) and Vasco (RJ), were not efficient in any period under analysis. …”
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