PurposeThis research proposes analytical valuation models throughout football players' life cycles based on crowd valuations from social media to produce dynamic sporting human capital disclosures, and therefore, supplying further useful information to capture the intellectual capital (IC) of football clubs.Design/methodology/approachThis work is carried out using an econometric model that includes 658 observations of crowd judgments versus their transfer fees, for the best footballers of the three major European Leagues between 2006 and 2018. To make the model more parsimonious, the set of independent variables that really add value has been found across the stepwise methodology.FindingsThe significant differences between both models are analyzed, integrating previous academic literature based on the existence of negotiation elements in prices, and in the capacity of crowdsourcing to explain assessments of football players, from a dynamic perspective, alongside a new variable: injuries, which has not been explained before.Originality/valueThe broader assessments from crowdsourcing should be integrated in intellectual capital disclosures (ICD), from a critical, novel and dynamic perspective, creating a virtuous cycle between managers and fans, to increase transparency of financial information for stakeholders and society.

Plasma FN appears to act as a marker of sepsis in that patients showed diminished pFN levels. Along with other clinical and laboratory variables, the use of this marker would allow a rapid diagnosis of sepsis and limit the number of blood cultures to be processed and the number of antibiotic prescriptions, particularly when symptoms are insidious and diagnosis is doubtful. We propose further and more complex studies using a higher number of patients.

In recent years, sustainable crowdfunding has been one of the key elements in the search for new sources of financing. This has involved eliminating financial barriers and intermediaries, bringing entrepreneurs’ projects closer to fund providers, and thus instigating changes in traditional investment and profitability parameters. Among these indicators, the sustainable business return and its relationship with Corporate Social Responsibility (CSR) could be a relevant factor to improve the cost of funding, to explain the return on assets (ROA), and, consequently, impacting on the return on equity (ROE). In this context, this paper takes as a reference 101 projects that are part of Colectual’s lending. We analyze factors such as sustainability—the application of CSR across a social responsibility index; the financial characteristics of the company—liquidity, leverage, and solvency; and the characteristics of the loans related to crowdfunding—amount, maturity, and charge rate of the loan. Our study provides empirical evidence that, besides financial characteristics, the commitment to CSR can improve collective lending and the management of resources, as well as enhance the capital wealth of companies, by improving shareholder profitability or ROE. Investors consider not only financial risk but also sustainability factors.

The aim of this paper is to assess the fair marketability discount (MD) in the Spanish market for valuation multiples comparing public versus private transactions. The study finds that to obtain MD it is necessary previously to control by a battery of factors that affects ratios’ prices such as industry, firm size, profitability, risk, year and also other characteristics about the buyer. The interactions of MD with each variable showed different investors’ perceptions about non marketability enterprises explaining MD. The valuation methodology applied in the research was a cross section of 824 public and private acquisitions in the Spanish market from the period 2006−2017. This work represents important evidence, in a more integrated vision than previous literature, for analysts and regulators stressing the necessity to apply MD in Spanish valuation processes based in listed multiples.

El objetivo de este documento es analizar el papel del crowdfunding en España orientado a financiar actividades con impacto positivo, tanto social como ecológico, primero a través del marco teórico, y, posteriormente a través de un análisis de la situación del sector en España. A través de los resultados procedentes de un cuestionario estructurado se muestra la taxonomía del sector en España, se analiza su evolución, así como rentabilidades, riesgos y oportunidades que brinda, tanto para emprendedores como para inversores. No cabe duda que a través de la colectividad Internet está jugando un papel decisivo para que sea la propia sociedad la que se convierta en un nuevo agente decisor que diseñe su propio destino. Después de la revisión, en línea con el maro teórico, encontramos que el crowdfunding resulta ser una herramienta muy útil para conseguir un desarrollo basado en la sostenibilidad. Los nuevos inversores y emprendedores, a través de las plataformas de crowdfunding, están cambiando el viejo paradigma de un agente inversor, sin escrúpulos, a otro que es social y emocionalmente responsable, capaz de crear un círculo virtuoso en el que el desarrollo económico y las mejoras en el entorno, tanto sociales como medioambientales se retroalimentan y posibilitan un desarrollo económico más sostenible y justo.