Investigaciones Europeas de Direccion y Economia de la Empresa最新文献

The aim of this paper was to analyze the contribution of intangible assets in the value creation of companies, using the methodology proposed by Gu and Lev, 2003, Gu and Lev, 2011. The database used was collected in Datastream with information covering the period from 2001 to 2010. The main results indicate that: (i) the variables RD and SGA and RD, SGA and CAPEX represent intangibility proxies for the software and hardware sector, respectively; (ii) comprehensive value explains the market value for the two sectors; and (iii) the intangibility indices ICBV and RI and MtCV, ICM and RI present a positive and significant relationship with shareholder return for the software and hardware sector, respectively. The principal implication of the paper is having found a positive and significant relationship between comprehensive value and market value. Accordingly, if this variable really explains the market value, it is a solution to a problem that afflicts accountants, which is how to account for intangibles in the balance sheet.

The aim of this work is to describe in detail on the current situation of outsourcing of Information Systems using the results of a survey carried out in the biggest Spanish firms. This is a longitudinal study that covers 12 years, since the current results are contrasted with those of two surveys carried out previously in the same environment and by the same authors. The conclusions point to a preservation of the status quo in the configuration of the outsourcing and to a larger degree of maturity in the characteristics of the contracts.

In a remarkably short time, economic globalisation has changed the world's economic order, bringing new challenges and opportunities to SMEs. These processes pushed the need to measure innovation capability, which has become a crucial issue for today's economic and political decision makers. Companies cannot compete in this new environment unless they become more innovative and respond more effectively to consumers’ needs and preferences – as mentioned in the EU's innovation strategy. Decision makers cannot make accurate and efficient decisions without knowing the capability for innovation of companies in a sector or a region. This need is forcing economists to develop an integrated, unified and complete method of measuring, approximating and even forecasting the innovation performance not only on a macro but also a micro level.

In this recent article a critical analysis of the literature on innovation potential approximation and prediction is given, showing their weaknesses and a possible alternative that eliminates the limitations and disadvantages of classical measuring and predictive methods.

The aim of this paper is to cover the gap in literature about transparency in the context of international trade facilitation. It focuses on the importance of transparency in achieving growth in international trade and the differences between non-transparent practices and corruption in global trade. Managing the disclosure of information about rules, regulations and laws is not the only trade policy instrument where transparency becomes important. To build a framework on levels of transparency we developed a matrix classifying the transparency of each country based on ease of doing business and levels of bribery. Four different strategies are explained based on the different scenarios of transparency in international trade. The main conclusions reflect that disclosure of information is not enough to guarantee transparency and monitoring of transparency must be improved.

This paper studies the behavior of the smile in the Warsaw Stock Exchange (WSE) during the volatile summer of 2011.We investigate the volatility smile derived from liquid call and put options on the Polish WIG20 index which option series expired on September 2011. In this period, the polish index has dropped about 20% in two weeks time. By linear interpolation, implied volatilities for moneyness points needed were calculated, then we construct 355 smile curves for calls and puts options to study and make some kind of smile-types classification. We propose seventeen types-smiles which represent all possible cases of three points (three moneynesses) graphical patterns. This classification is made basing upon relationship higher/equal/lower values of implied volatility for each of three points. Furthermore, we distinguish the convexity of pattern. We can note that smiles, smirks and ups are convex in shape, while reversed ones and downs are concave functions.

This article reports on an online survey conducted with more than 500 Facebook users in Spain and Portugal, in order to identify which are the most important variables on the intention to use this social network to make buying decisions.

The results of this study indicate that the intended use of Facebook in purchasing decisions are influenced by their perceived usefulness, social influence and attitude toward Facebook, while the perceived ease of use has no direct influence on these intention. Furthermore, perceived enjoyment could play an essential role, even higher than the perceived usefulness in determining the attitude of the individual towards Facebook as a tool for finding information about the product.

The present study advances in the research about identification of entrepreneurial opportunities, by analyzing the moderating effect that social network's size and strength may have on the relationship of prior knowledge and alertness with opportunity identification. We draw on a sample made up of 199 Andalusian entrepreneurs to perform a regression analysis. The results show a negative influence of prior knowledge on the number of identified opportunities, as well as a positive moderating effect of network strength over the relationship between alertness and opportunity identification. Our work can contribute to the entrepreneurship literature, given that we integrate in a model the effects of alertness, prior knowledge and social capital on the study of the opportunity identification phase, by applying a contingent perspective based on the moderating role of certain networks’ characteristics.

Is human resource management in local councils useful? In the current crisis, is the expenditure in this area justified? Although investment in human resources management has been widely studied at the private enterprise, research is scarce in the area of Spanish public administration. To fill this gap, this work carried out a study on a sample of 85 Spanish municipalities of more than 20,000 inhabitants. Analysis supports the idea that actually some practices of human resources have positive effect on the results of local corporations. In fact, although there are practices that are very regulated by the public service regulations you can manage more efficiently without colliding with the law in force.

The sensitivity in the public urban transport sector, focusing on a progressive improvement in the economic and technical management of passenger services and the need to design a transparent public finance system and according to the current economic circumstances, has led to increased interest and concern to improve the knowledge of its structure and evolution. This has encouraged the emergence of the conditions for the adoption of the initiative of the institutions that have promoted the creation of the Costs and Funding of Collective Urban Transport Watchdog (TUC Watchdog). The TUC Centre's objectives focus on the study of the operating conditions and financing of surface urban public transport concessions in Spain, through the generation of representative measures of behavior patterns, in order to enhance the real knowledge of the sector.

In this paper, we present a study of the current problems in the financing of urban public transport in Spain, from the work carried out for the first report of the TUC (2008-2009).

In last years entrepreneurial orientation has generated an increased interest in the field of entrepreneurship. The literature review allows us to suggest the need to analyze the ambiguity and complexity of the relationship between entrepreneurial orientation and firms’ performance. In this work, we study this relationship from a configurational approach, addressing the consistency of relational and organizational aspects with entrepreneurial orientation. The aim of this work is to develop a configurational model to explain how the conjunction between social capital and internal capabilities can foster the relationship between entrepreneurial orientation and performance. We propose three theoretical models — universal, contingent and configurational — which are defined by theoretical propositions. Also, we explore and exemplify empirically these relationships through a case study of Spanish agri-food industry. Finally, we draw a series of conclusions from the proposed models and we propose future lines of research.