Has the crisis affected Spanish investment strategy abroad? A spatial panel data approach

This paper investigates whether the Spanish investment strategy abroad has been affected by the Great Recession. Applying a panel spatial Durbin model for two sample periods, pre‐crisis (1996–2007) and crisis (2008–14), our findings indicate that Spanish foreign direct investment (FDI) strategy has been indeed markedly altered by the global economic crisis. Complex‐vertical FDI motives prevailed over the pre‐crisis period, whereas horizontal FDI did so over the crisis. These results are robust to the use of sectoral FDI data and alternative specifications of the spatial weight matrix.     

Reassembling Lesseps Square,Rethinking Barcelona: A More‐than‐Human Approach

This article discusses the great paradox of the planning of public spaces in Barcelona. While for years the city's residents, politicians and experts have been steeped in democratizing, participatory discourses, the interminable controversies almost all the council's initiatives in the streets and squares of Barcelona have aroused are evidence of a clear short‐circuit. Somehow this participatory‐democratic consensus has run up against a collective discord which, in my view, indicates the incapacity of the current channels and mechanisms of citizen participation to truly give shape to a more democratic city, one which does not block dissent or stand in the way of the possible. I discuss this short‐circuit through a case study, the Lesseps Square controversy, including a methodological and epistemological debate which, in order to study how the square was reassembled in practice after the participatory remodeling process, puts forward an actor‐network‐theory‐inspired approach to the study of public space. I argue that Barcelona, a city whose public institutions are deeply committed to creating channels for residents to participate in public processes, is at the same time enacting a closure of its public spaces. My contention here is that the urban environment is already distributed (in Rancière's sense) before it is given over to participation, and that this prevents the emergence of a (more‐than‐human) demos that could redistribute public space by taking account of innumerable unrepresented parties.     

Preliminary Evidence on Takeover Target Returns in Spain: A Note

This paper measures the share price returns to Spanish takeover targets over the period 1990 to 1994. Using several estimation and testing methods, we show that target shareholders gain significant abnormal returns in the announcement period. In the first part of the year before the announcement period, firms that become targets do not show significant abnormal returns, though there is some significant upturn in the two months before the bid.     

Consumption in the shadow of unemployment

By how much do employed households reduce their consumption when the aggregate unemployment rate rises? In Spain during the Great Recession a one point increase in the unemployment rate was related to a strong reduction in household consumption of more than 0.7% per equivalent adult. This reduction is consistent with forward-looking agents responding to downward revisions of their expectations on future income growth rates: the shadow of unemployment. Using consumption panel data that include information on physical quantities we show that the drop in consumption expenditure was truly a reduction in quantities, and not a switch to cheaper alternatives.     

Commercial Strategies in the Olive Oil Bottling Sector in Spain

Abstract

The main objective of this study is to analyse the olive oil bottling sector in Spain, applying the strategic group methodology to a group of firms from the sector. The study is divided in four sections:

? Identification of the strategic groups, using multivariate statistical techniques.

? Characterization of the groups, analysing their internal structure, delimiting and explaining their strategies.

? The positioning.

? And differences in the results of the groups.     

The role of motivation in visitor satisfaction: Empirical evidence in rural tourism

Motivation and satisfaction are two concepts widely studied in tourism literature; the relevance of these constructs being derived from their impact on tourist behaviour. The purpose of this paper is to investigate the relationship between motivation and visitor satisfaction. A survey questionnaire was distributed to visitors at a rural destination in Spain and the data analysed by ANOVA, factor and cluster analyses. The results verified our hypothesis that motivation is a determinant of the visit assessment criteria and, as a direct consequence, of the level of satisfaction (specific factors) of the visitor. However, this investigation also detected the existence of certain elements, which are independent of the reasons that motivated the journey (general factors), but which affect general satisfaction. Based on our findings, implications for management and marketing are presented.     

Ad Element Liking and Its Relationship to Overall Ad Liking

Abstract

This study explored differences in affective response content across three cultures and the role of these responses in predicting overall advertising liking. Based on a field survey, subjects from England, Norway and Spain evaluated cosmetic ads on a series of liking scales. Ad content was coded into elements reflecting product- or ad-related affect based on existing theory on ad evaluation criteria and on the theory of central and peripheral routes to persuasion. This study revealed that it might be difficult to achieve sameness in likeability even for international brands and beauty types. However, quite consistently across cultures, the findings suggest that the same affective processes along a peripheral route influence overall liking across cultures. Implications are drawn for future practice and research.     

Pharmacoeconomic analysis of the treatment of schizophrenia with quetiapine,olanzapine, risperidone or haloperidol in Spain

Summary

The study objective was to compare the costs of the treatment of schizophrenia with quetiapine (QUE), olanzapine (OLA), risperidone (RIS) or haloperidol (HAL) and those of the secondary effects (SE) associated. A cost-effectiveness analysis, using a Markov process, was used.The time horizon was 12 months.The study population comprised Spanish adult schizophrenic patients.The NHS perspective was taken (direct costs).The costs of several SE of medication were analysed. Use of resources and costs were calculated following the recommendations of the Spanish Psychiatric Society and other sources.

The monthly rates of the onset of SE with each medicine were calculated using a meta-analysis and systematic review of the literature.

A simple univariate sensitivity analysis was performed. QUE is as efficacious as OLA and RIS, but apparently leading to fewer cases of extrapyramidal syndrome and sexual dysfunction, with lower costs. QUE is better tolerated than HAL, but with higher costs.     

The network of Spanish Jewries: in praise of connecting and sharing heritage

This article presents the case study of the Network of Spanish Jewries (‘Red de Juderías de España’ – Caminos de Sefarad) and discusses the implications of networking between heritage sites linked through thematic routes. Although the impact on the performances of the different sites can hardly be measured, the value of the Spanish Jewries is attributed especially to its potential to redress regional imbalances in tourism activity (one of the main concerns for Spanish tourism) and to be packaged as a more integral, economically viable, and enticing experience than stand-alone heritage-based products. Evidence from the case study gives rise to more general considerations on the value of heritage networks for a more sustainable tourist activity, knowledge-sharing, and coordination in management. The article also looks beyond tourism impacts to regional cohesion and economic development opportunities that could be reaped from the extension of the network across national borders.     

The demand for alcoholic beverages in Spain

The objective of this study is to analyze the main determinants of alcoholic beverages consumption at home. Data comes from the latest Spanish Household National Survey, which provides information on expenditure and quantities of different food products by household. Because households are interviewed only 1 week, a large number of zeros have been recorded. Among the existing censured demand models (the double hurdle (DH) model; the purchase‐infrequency model; and the Tobit purchase‐infrequency model, among others) and after carrying out model selection tests, the DH model has been finally estimated. All expenditure elasticities are positive, corresponding the highest value to spirits. Own price elasticities are negative and also in this case the spirits exhibit the highest value. Socio‐economic variables also play an important role in explaining consumer purchase and consumption decisions.