Changes in accounting and financial information system in a Spanish electricity company: A new institutional theory analysis

This paper reports on the results of an intensive case study that investigated changes in the accounting and financial information system of a large Spanish electricity company (Sevillana). Sevillana was acquired by the Endesa Group upon the deregulation of the Spanish electricity sector (SES). Drawing on data from multiple sources including interviews, observations, discussions and documents, the paper aims to theorize the change in the accounting and financial information system. An integrated accounting and financial information system was imposed by the Endesa head office on Sevillana and other Endesa subsidiaries to support organizational changes designed in response to regulatory requirements. The institutional senvironment also interacted with market forces and intra-organizational power relations to either directly or indirectly influence the changes in the accounting and financial information system. Given the interplay between these forces, the paper draws on and extends the New Institutional Sociology (NIS) theory [DiMaggio, P.J., Powell, W.W., 1983. The iron cage revisited: institutional isomorphism and collective rationality in organizational fields. Am. Sociol. Rev. 48, 147–160; Powell, W.W., DiMaggio, P.J., 1991. The New Institutionalism in Organizational Analysis. The University of Chicago Press, pp. 183-203] to understand the dynamics of the change.     

Determinants of sales manager job satisfaction. An analysis of Spanish industrial firms

The objective of the current work is to analyse the determining factors of sales manager job satisfaction. In particular, we study the effect of various human resources management (HRM) practices – compensation, promotion, training and job design – on this satisfaction, using a model empirically tested on a sample of Spanish industrial firms. The results of the empirical analysis of the model, which uses data from a postal survey, indicate that human resources practices based on compensation – level and type – as well as on the job design – resources and autonomy – appear to be the fundamental determinants of sales manager job satisfaction. In the research we confirm that there is a growing need for firms to combine economic and non-economic incentives in order to satisfy their executives.     

As old as history: Family-controlled business groups in transport services: the case of SEUR

This article presents empirical evidence about the contribution of family-controlled business groups as highly efficient alternatives to the large vertically integrated and professionally managed corporation in specific institutional and market environments. This hypothesis is tested with a single case study, SEUR, in the Spanish transport services sector. SEUR is one of the most prominent Spanish courier companies. It was founded during Franco's dictatorship, expanded in democratic times, and imaginatively adapted to the financial challenges of the late globalisation at the end of the twentieth century, while maintaining the traditional values based on personal trust and family ties.     

Influence of open innovation strategies on employment dynamics: evidence for Spanish manufacturing firms

ABSTRACT

In this paper, we explore the influence of different modes of openness of innovative firms on employment growth. Using a panel database of Spanish manufacturing firms during the period 1998–2015, we analyze the influence open innovation (OI) strategies on employment distinguishing by type of external partner. The main objective of the research is to know whether opening innovation strategy contributes to employment taken into account another firm capabilities and sectorial technological opportunities. For this purpose, a two-step procedure is specified. Firstly, a random-effect computes the effects of OI on the innovation probability. In the second step, the variation of innovativeness due to openness on GMM-system estimation controlling by potential endogeneity and unobserved firm heterogeneity is used. The results support that the influence of open strategy on employment growth is positive. Moreover, the employment depends on the breadth of OI measured by the number of out-inbound relationships. Finally, the employment consequences are different for each mode of open strategy.     

Technological innovation and the demand for labor by firms in expansion and recession

ABSTRACT

With firm data from the Spanish Community Innovation Survey (CIS) for the period 2003–2014, we find a positive and significant effect of innovation in the demand for labor when firms introduce product and process innovations in the same time period. The effect of innovation on the demand for labor is countercyclical, higher in the recession, after 2008, than in the expansion, before 2008, but the probability that firms innovate in product and process is counter-cyclical, i.e. lower in the recession. Altogether, the elasticity of the demand for labor to the probability that firms introduce product and process innovations remains stable throughout the sample period, at around 0.035. Innovation contributes to stabilize average employment during the cycle, more so when the innovation is in product, alone or together with process, than when it is only in process. These results are broadly consistent with product and process innovations shifting firms’ demand and production functions upwards, but differentially in expansions (less product market competition) than in contractions (more competition).     

Measurement and characterisation of the Digital Divide of Spanish regions at enterprise level. A comparative analysis with the European context

Until now, a reduced number of research is observed on the adoption and use of ICTs in enterprises and on the digital divide (DD) between them at regional scale in Europe. What is meant by DD are the differences in the levels of digital development of the enterprises; being the digital development the degree of adoption and use of ICTs and e-commerce by the firms. The aim of this piece of work is to characterise and measure the DD in the Spanish regions and those in the countries of the European Union based on the data of their enterprises with more than 10 employees which have used ICTs. The methodology is developed in the following stages: 1) Construction of a synthetic index of digital development (Enterprise Digital Development Index –EDDI-) for countries in the EU and Spanish regions. The production of this index is carried out based on the factors obtained with the factor analysis (FA) with the aim of identifying the key variables which define the different EDDI components. These variables come from the “Community survey on ICT usage and e-commerce in enterprises” of Eurostat. 2) Classification of Spanish regions into the groups of European countries with a similar level of EDDI components based on the discriminant analysis. Those groups are previously obtained by using cluster analysis. And 3) Comparative analysis of the DD between the Spanish regions and those in countries of the EU based on EDDI components and the identified groups. The study provides a synthetic index (EDDI) at European scale comprising 3 dimensions which permits obtaining: i) a ranking from more to less digital development of countries and regions permitting the measurement of the DD among them is established; and ii) a typology of European countries and Spanish regions is defined according to the 3 dimensions of EDDI. The main results of this piece of work show that the Spanish regions at enterprise level: i) are in a medium or higher level of digital development than their European counterparts, presenting, furthermore, a lower DD between them in relation to what happens in European countries; ii) stand out for having a higher digital inclusion than European countries in the ICTs related to infrastructures of internet access and for the interaction with the public authorities; and iii) have a digital development deficit in the integration of ICTs for e-commerce.     

促进“积极老龄化”的战略思考——加强社区老年大学的建设

人口老龄化是一种全球性的不可避免的人口发展趋势,如何实现积极、成功的老龄化,使老年人充分发挥作用,老年教育起着非常重要的作用。发展老年教育也是促进老年人与社会共同发展的重要途径。实现“积极老龄化”,不仅可促进老年人的身心更健康,而且还可挖掘他们的潜力和智慧以贡献于社会。社区“老年大学”是契合中国老年人口特点和教育需求,具有便利性和可及性,能够有效保障老年人受教育权利,改善老年人生存发展现状的教育形式。本文从四个方面对以下问题做了分析：1．中国老龄化的现状;2．社区“老年大学”建设对积极老龄化的重要性;3．我国老年大学的发展特点;4．加强社区“老年大学”建设的具体措施和建议。     

Historicising Ricardo’s comparative advantage theory,challenging the normative foundations of liberal International Political Economy

David Ricardo’s theory of comparative advantage is now two centuries old, but it remains at the heart of economists’ theories of international trade. It also continues to provide the underlying economic ethic for liberal International Political Economy (IPE). Ricardo’s numerical illustration of the mutually shared gains from specialisation and trade involved complementary structures of comparative advantage being exhibited by a productively superior hypothetical ‘Portugal’ and a productively inferior hypothetical ‘England’. Yet, the historical back-story of actual eighteenth-century trading relations between the two countries reveals Portugal’s repeated struggles to meet its treaty obligations to the English in the context of the European quest for empire. Those difficulties persisted even when it harnessed its (less profitable) commercial trade to (much more profitable) slave trading practices. Ricardo’s account of the purely mathematical logic of comparative advantage writes out of economic history the centrality of both imperial wars and African slavery to the early English and Portuguese experience of ‘free’ trade. Given this historical back-story, liberal IPE thus appears to be in urgent need of new normative foundations to decouple it from these highly illiberal economic processes.     

Adoption of IFRS in Spain: Effect on the comparability and relevance of financial reporting

EU Regulation 1606/2002 requires application of International Financial Reporting Standards (IFRS) by groups listed on European stock markets. In Spain, listed groups are now obliged to prepare consolidated financial information under IFRS, and legislative changes to bring local rules into line with international standards have been tabled.In this context, the potential impact of IFRS is fraught with uncertainty. Our study of IBEX-35 companies focuses on the effects of the new standards on comparability and the relevance of financial reporting in Spain. We address these objectives by seeking significant differences between accounting figures and financial ratios under the two sets of standards (i.e. Spanish accounting standards and IFRS).The results obtained show that local comparability has worsened. The study reveals that local comparability is adversely affected if both IFRS and local accounting standards are applied in the same country at the same time. Reforms to bring local rules into line with international standards are therefore urgent. We also find that there has been no improvement in the relevance of financial reporting to local stock market operators because the gap between book and market values is wider when IFRS are applied. While there has been no gain in terms of the usefulness of financial reporting in the short-term, improved usefulness may be achieved in the medium to long-term.