Variables description
| Variable | Description |
|---|---|
| Size | Natural logarithm of total assets |
| Profitability | (EBIT/operating revenues) * 100 |
| Capitalization | Capital-to-total assets ratio |
| Round-of-16 | Dummy variable: 1 if the match is in a round of 16, 0 otherwise |
| Quarter-final | Dummy variable: 1 if the match is a quarter-final, 0 otherwise |
| Semifinal | Dummy variable: 1 if the match is a semi-final, 0 otherwise |
| Final | Dummy variable: 1 if the match is a final, 0 otherwise |
| Favorite | Dummy variable: 1 if the team is considered favorite, 0 otherwise |
| Difference | Dummy variable: 1 if the goal difference is higher than 3, 0 otherwise |
| Variable | Description |
|---|---|
| Size | Natural logarithm of total assets |
| Profitability | (EBIT/operating revenues) * 100 |
| Capitalization | Capital-to-total assets ratio |
| Round-of-16 | Dummy variable: 1 if the match is in a round of 16, 0 otherwise |
| Quarter-final | Dummy variable: 1 if the match is a quarter-final, 0 otherwise |
| Semifinal | Dummy variable: 1 if the match is a semi-final, 0 otherwise |
| Final | Dummy variable: 1 if the match is a final, 0 otherwise |
| Favorite | Dummy variable: 1 if the team is considered favorite, 0 otherwise |
| Difference | Dummy variable: 1 if the goal difference is higher than 3, 0 otherwise |
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