Non-profit organizations,entrepreneurship, social capital and economic growth

Traditional economic growth literature focuses mainly on the neoclassical approach. According to this view, firms try to maximize their benefits so that there is no place for non-profit organizations (NPOs). However, the activity of NPOs has a higher relevance in society, and it is necessary to analyze its effects on economic growth. These effects are not direct, but occur through other variables that directly promote economic growth, such as entrepreneurship activity and human capital, and through the improvement of education. We engage in an empirical analysis of these issues using data from 11 countries.     

“Do You Use English in Your Daily Life?” Undergraduate Students’ Perceptions of Their Extramural Use of English

The aim of this research is to analyse the students’ perceptions about their extramural use of English, comparing undergraduates studying their degree in English (EMI) with those studying theirs in their native language (non-EMI) within a span of five academic years. Data collected from a Spanish University suggest that the students´s interest and perception of their possibilities of working abroad in English differ. Results also reveal key differences in the use of extramural English and suggest that exposure to reading books or watching English-language films will eventually contribute to the formation of global mindset in students. The trend of the importance of English during a five year span is also considered, for both strands of students. This study makes a contribution in the field of teaching in international business settings for high education institutions.     

Growth machines and social movements in mature tourist destinations Costa del Sol-Málaga

Abstract

The purpose of this study is to analyse the new processes of tourism growth and its conflicts from the perspective of social movements. First, the urban growth machine analysis model is applied by the systematisation of six projects. Second, the resistance movements against those projects and whether this resistance could be the start of local tourism degrowth policies are examined. The methodology is qualitative, based on documentary analysis, participatory observation, discussion groups and interviews. The case study is the destination of Costa del Sol-Málaga. The results enable the development of the urban growth machine model in tourist destinations. Meanwhile, social movements demystify the argument based on neoclassical economic progress. The social movements condemn the effects of large-scale top-down projects, and implement alternative bottom-up proposals. Although the social movements do not reject tourism, they call for greater control over its impact, denounce unlimited growth, overtourism and the loss of urban quality of life. These movements advocate a lifestyle linked to the everyday space, which they believe is threatened by excessive urban-tourism growth. They are a symptom of the need to devise a proposal using the principles of degrowth.     

WHAT HAPPENED TO THE WILLINGNESS OF COMPANIES TO INVEST AFTER THE FINANCIAL CRISIS? EVIDENCE FROM LATIN AMERICAN COUNTRIES

In this article we investigate the changes in corporate investment dynamics in the aftermath of the global financial crisis. Using firm-level data from six Latin American countries from 2002 to 2015, we show that firms are less constrained and have greater ability to invest after the crisis. However, the willingness of firms to invest optimally is reduced. This is supported by strong evidence that during the postcrisis period investment–cash flow sensitivity disappears, investment-q sensitivity increases, and the estimated speeds of adjustment for target investment decrease. Moreover, after the crisis, firms notably increase their efforts to attain optimal cash and leverage levels. Our analysis implies that firms may not always be willing to invest optimally. The willingness to invest optimally appears to be time variant and moves together with the dynamics of cash and leverage policies, albeit in opposite directions.     

Unequal access to food during the nutritional transition: evidence from Mediterranean Spain†

Unequal access to food is one of the main issues in nutritional history, but scarcity of sources has hampered the quantification of this phenomenon. This study uses hospital diets to address this gap. It uses records from between 1852 and 1923 concerning hospital diets in the psychiatric section of the Hospital General de Valencia (Spain), from which it is possible to infer the actual intake of nutrients for six groups of patients and members of staff. The results reveal considerable differences in terms of diet and nutrition. While the most favoured groups (nuns and well-off patients) had by 1852 reduced their relative intake of cereals and increased that of meat, in line with the general trend of the nutritional transition, the poor and orphans were still behind the trend by 1923. Hospital staff were on a high-calorie diet that was adequate for carrying out physically demanding tasks, yet still suffered from a significant deficit in nutrient intake. These inequalities indicate that the nutritional transition was an uneven and non-linear process, with substantial differences according to social group.     

An empirical approach to the organisational determinants of spin-off creation in European universities

Given the importance in recent years of the phenomenon of academic entrepreneurship in European universities, knowledge about determinants and performance of this technology transfer mechanism may have important managerial and policy implications. Applying the resource-based view at universities, we have tested the influence of five bundles of resources and capabilities on spin-off activity rates as well as on the performance of new spin-offs in a sample of seven European universities. These five bundles are: technology transfer policies and strategies; human capital; stock of technology; resources and capabilities of technology transfer offices; and support measures for academic entrepreneurship. Our results show that excellence of human capital and the presence of university-based financial support measures are strongly associated with both spin-off activity and performance. Another interesting finding is related to the availability of university-based non-economic support measures (training, counselling, etc.), which have no influence on spin-off activity but are significantly associated with performance of new spin-offs. We also discuss some interesting relationships between explanatory variables.     

Can Investors Identify Managerial Discretion in Corporate Social Responsibility Practices? The Moderate Role of Investor Protection

This paper analyses investors’ ability to identify if managers use corporate social responsibility as an entrenchment practice to conceal the risk of dismissal associated with managerial discretion and if this detection is determined by the level of investor protection orientation. Results based on an international database of 1949 companies show that investors and markets do not identify managerial entrenchment based on the promotion of sustainable practices, except when such entrenchment is developed by companies located in countries with strong investor protection. In these countries, investors identify and penalise such companies with lower financial performance.     

Profiling tourists based on their perceptions of the trustworthiness of different types of peer-to-peer applications

This research profiles tourists based on the extent to which they trust user-generated content (UGC) uploaded in different types of peer-to-peer applications, also considering their socio-demographic characteristics, frequency of travel and motivations for using the Internet and UGC when making their travel choices. For this purpose, latent class segmentation was applied on a sample of 609 Italian tourists and three different clusters were identified, namely: “distrustful tourists”, “untrusted tourists” and “social web tourists”. The findings suggest that hospitality marketers should improve their social media strategy by focusing their attention on Travel 2.0 applications according to the socio-demographic and behavioural characteristics of their target market.     

Incidence,effects, dynamics and routes out of overqualification in Europe: a comprehensive analysis distinguishing by employment status

This study aims to improve our understanding of overqualification by incorporating distinctions in employment status (i.e. self-employed workers, private employees and public employees) in the analysis of the incidence, effects, dynamics and routes out of overqualification. To this end, we apply discrete choice – ordered and nonordered – and count models to the data obtained from the European Community Household Panel for the EU-15. Our results indicate that the incidence of overqualification varies by employment status, where self-employed workers report the lowest occurrence. Furthermore, this analysis suggests that overqualification is a permanent phenomenon and demonstrates that successful pathways out of overqualification differ by employment status. The implications of these results for education and labour market policies are also discussed.     

Trade credit in SMEs: a quantile regression approach

This article analyses the determinants of the trade credit in Spanish manufacturing small and medium-sized enterprises (SMEs) from a new perspective. Specifically, we focus on the relationship between trade credit and other relevance financial resources: bank credit and self-financing. For the first time in the literature, a quantile regression approach is used, which takes into account the heterogeneity of firms in different quantiles of trade credit distribution. Our results show that the relationship between trade credit and other financial sources presents dissimilarities, including differences in sign, on SMEs with different degrees of trade credit. Our findings help to clarify the confusing results achieved in previous research on this topic.