Evaluation of the convergence between “self-reporters” and “proxies” in a disability questionnaire by means of behaviour coding method

Household surveys often require including proxy reporters to obtain information about other household members who cannot be interviewed. The participation of proxies can undermine survey data quality due to the fact that proxies must respond to questions thinking about other people. The objectives of the present study were to analyze the behaviour of proxy reporters and evaluate the convergence between the answers given by proxies and self-reporters by means of behaviour coding. This improves the evaluation of convergence, since only adequate (i.e., interpretable) answers given by both types of informant are taken into account. Responses to a disability questionnaire employed by an official statistical institute were analyzed. The questionnaire includes 11 questions about different limitations related to everyday activities. 16 self-reporter and 16 proxies formed 16 couples whose members lived together and supported a direct family relation. The results show a high percentage (52%) of convergence between both types of informant, although fluctuating across the questions and the couples. Proxies showed relatively more adequate behaviour during the interaction than self-reporters. From this we conclude that proxies can be considered at least as good informants as self-reporters from an interviewer-respondent interaction perspective. Future research should address the impact of proxy responses on survey validity.     

Across-the-border Contamination,The Andorra Power Plant (Teruel): A Business Ethics Case

The purpose of this article is to present a business ethics case from the viewpoint of discursive ethics. Dialogue and subsequent agreement constitute two key ideas of European identity and are two basic concepts of discursive ethics thinking. Our choice for this type of approach was determined by several reasons, of which there are three that should be pointed out, as they can be considered an heritage of the European way of thinking:1) the need for a rational dialogue, in which all those affected -- or, failing that, the people acting in their name -- are represented, as a way to find solutions to conflicts;2) the importance of respecting a set of conditions ensuring equal opportunities and total symmetry among the participants; and3) obliged respect for the universalization principle, which establishes that a decision is morally correct when it can or could be accepted by all those whom it affects, present or future.In order to present this case, the following steps are taken. Firstly, a brief summary of the case will be provided, defining the different ways of approaching the problem and the resulting map of interests. Secondly, the different interests and values, which came into play, are analysed. Finally, we go over the different approaches that were made to reach a solution before considering dialogue, which turned out to be the most decisive.     

A Dynamic Approach to Accounts Receivable: a Study of Spanish SMEs

The main objective of this paper is to extend the literature on the granting of trade credit. The focus is to test whether the accounts receivable decisions follow a model of partial adjustment. To do that, we use a sample of 2,922 Spanish SMEs. Using a dynamic panel data model and employing the GMM method of estimation we control for unobservable heterogeneity and for potential endogeneity problems. The results reveal that firms have a target level of accounts receivable and take decisions in order to achieve that level. In addition, we find that sales growth (if positive), the size of the firms, their capacity to generate internal funds and get short term financing, and economic growth are important in determining trade credit granted by firms.     

Risk Changes around Calls of Convertible Bonds

We examine changes in equity and asset betas around convertible bond calls and report two major findings. First, calling firms exhibit an increase in asset betas following the call. We argue that the finding is consistent with the implications of the sequential financing theory but not of the backdoor equity financing theory. Second, abnormal returns at call announcements are negative only for the subsample of firms that also exhibit an increase in equity beta. We conclude that risk changes help explain the market reaction to convertible bond calls.     

Accounting conservatism and corporate governance

We predict that firms with stronger corporate governance will exhibit a higher degree of accounting conservatism. Governance level is assessed using a composite measure that incorporates several internal and external characteristics. Consistent with our prediction, strong governance firms show significantly higher levels of conditional accounting conservatism. Our tests take into account the endogenous nature of corporate governance, and the results are robust to the use of several measures of conservatism (market-based and nonmarket-based). Our evidence is consistent with the direction of causality flowing from governance to conservatism, and not vice versa, indicating that governance and conservatism are not substitutes. Finally, we study the impact of earnings discretion on the sensitivity of earnings to bad news across governance structures. We find that, on average, strong-governance firms appear to use discretionary accruals to inform investors about bad news in a timelier manner.

How do controversial foreign country images affect consumers?

Research shows that controversial political–economic, social, and environmental country images affect consumer responses to foreign products. This study adds to the existing evidence by examining the contingent role of subjective country knowledge and (domestic vs. foreign) country image congruence in the relationships between foreign country image and two major determinants of country-driven (anti-)consumption: foreign product judgements and consumer animosity. The findings draw on survey data (N = 400) on Spanish consumers' views of China and Chinese apparel products. The results indicate that higher subjective knowledge about social and environmental issues (negatively) affecting the foreign country can lead to attenuated (positive) relationships between such country images and foreign product judgements. Further, more negative foreign product judgements can result from incongruent country images—that is, when consumers are more critical of the foreign than of their home country in political–economic, social, and environmental areas. Instead, there is limited support for the hypotheses involving consumer animosity as an outcome. Implications for theory, policy, and practice are discussed.     

Quarterly earnings guidance and real earnings management

We examine if quarterly earnings guidance induces real earnings management. Quarterly guidance may cause myopia and inefficient decision-making, if managers become overly concerned with setting and beating short-term earnings targets. We test these associations on a large sample of US firms. Our evidence suggests that quarterly guidance is informative and lowers myopic incentives. However, our analyses also reveal endogenous associations exist between guidance and real earnings management. In contrast with existing concerns over frequent guiders, we find that guidance appears problematic in infrequent guiders, and in firms that issue good news earnings guidance and that operate in settings where earnings pressures are high.     

Competition effects in EU external aid supply tenders funded with the Pre-accession and Neighbourhood instruments

Empirica - This paper investigates empirically the competition effects on procurement costs for Europe Aid funded supply tenders in countries benefiting from the EU Pre-accession (IPA) and...     

Socioeconomic Index for Income and Poverty Prediction: A Sufficient Dimension Reduction Approach

The present paper introduces a novel method for the construction of Socioeconomic Status (SES) indices that are specific to a target variable of interest. It is based on the Sufficient Dimension Reduction (SDR) paradigm and uses a factorized model-based approach to simultaneously deal with predictor variables of mixed nature (i.e. quantitative, binary, and ordinal), which are usual in microeconomic data. These SES indices also identify relevant predictor variables using a two-step regularized matrix factorization approach. Using data from household surveys for Argentina (Encuesta Permanente de Hogares-EPH), the proposed method is compared with other existing dimension reduction algorithms such as standard Principal Component Analysis (PCA) and its version for mixed variables, regression on the full set of variables and Least Absolute Shrinkage and Selection Operator regression (LASSO).     

How does the EU non-financial directive affect the assurance market?

The objective of this paper was to determine the impact produced by Directive 2014/95/EU on companies’ decisions regarding the assurance of non-financial information statements and the quality parameters under which this service is contracted. Following an analysis based on institutional theory, the results obtained for the reports issued by an international sample of 600 multinational companies in the period 2011–2018 show that the institutional pressures associated with this Directive contributed to an expansion of the assurance market, although they had only a moderate impact on the contractual conditions of the service. Complementary analyses suggest that the adoption of a limited scope in these assurance services may reflect the conservative outlook of auditors, as providers whose service is favoured in the new scenario. Additionally, we find that the influence of this legal framework is different in the United Kingdom from that in the other European countries. The research contributes to the literature by offering a novel understanding of the behaviour of assurance providers and of the quality of the service obtained.