Are foreign owned English football clubs less efficient?

In this thesis the technical efficiency for English Premier League and Championship clubs where pitch performance is the producing factor and the wages & salaries, amortization of player registrations, and other operating expenses are the input variables. To calculate the efficiency a Stochastic Cobb-Douglas production frontier model is used. The main interest for this thesis is to test whether clubs with a majority foreign ownership are significantly more inefficient than majority non-foreign owned clubs. After testing it has been found that there is no significant difference in technical efficiency between majority foreign owned clubs and majority non-foreign owned clubs.