Term structure and the estimated monetary policy rule in the Eurozone

In this paper we estimate a standard version of the New Keynesian Monetary (NKM) model augmented with term structure in order to analyze two issues. First, we analyze the effect of introducing an explicit term structure channel in the NKM model on the estimated parameter values of the model, with special emphasis on the interest rate smoothing parameter using data for the Eurozone. Second, we study the ability of the model to reproduce some stylized facts such as highly persistent dynamics, the weak comovement between economic activity and inflation, and the positive, strong comovement between interest rates observed in actual Eurozone data. The Sect. 3 implemented is a classical structural method based on the indirect inference principle. We are grateful to Eduardo Ley, two anonymous referees and seminar participants at the XXXI Simposio de Análisis Económico (Oviedo, Spain) and Bank of Spain for their useful comments. Financial support from Ministerio de Ciencia y Tecnología and Universidad del País Vasco (Spain) and Fundación Séneca through projects SEJ2004-04811/ECON, 9/UPV00035.321-13511/2001 and I02937/PHCS/05, respectively, is gratefully acknowledged. The first author also thanks Fundación Ramón Areces for financial support.     

Mixed methods studies in entrepreneurship research: Applications and contributions

Mixed methods research is becoming an increasingly popular approach in several fields. However, its application in the field of entrepreneurship has not been studied. The authors reviewed the use of mixed methods research in three entrepreneurship journals and two leading generalistic journals that publish entrepreneurship research, examining the main purposes and designs. A total of 955 articles were reviewed and 81 mixed methods studies were identified. The analysis of these articles revealed opportunities associated with the application of this approach. Mixed methods may help to improve entrepreneurship research addressing challenges emphasized in earlier studies. Suggestions on why and how to use mixed methods research are offered, and recommendations are provided to guide future mixed methods studies to advance our understanding of the entrepreneurial phenomenon.     

Do ethnicity and occupational status interact to influence anxiety? An investigation of anxiety among Hispanic emergency responders

Although anxiety is a universal emotion, some of the most severe job-related levels of anxiety are among emergency responder occupations, jeopardizing their well being and positive job performance. The literature suggests that certain ethnic groups report higher levels of anxiety than other ethnic groups. Using Lazarus and Folkman's transactional model of stress, this study examines whether ethnicity predicts differing anxiety levels across occupations. We sampled emergency and non-emergency responders in the state of Texas in the USA. The strongest positive relationship between occupational status and anxiety was observed for Hispanics compared with non-Hispanics. However, the findings reveal no significant effect between Hispanic ethnicity and anxiety. Our findings show that ethnicity may explain the differences in experienced anxiety across occupations. Implications for theory and practice are discussed.     

Perceived compensation discrimination against physically disabled people in Andalusia

This study proposes and tests a model that explains the job dissatisfaction of the physically disabled as a result of their general perception that they are treated inequitably by their employer, and their specific perception that they have experienced discrimination in compensation. These three variables have not previously been studied in combination. Using the theoretical framework of organisational justice, we apply structural equation models to test our hypotheses in a sample of 220 employed people with physical disabilities in Andalusia. We show that the perception of discrimination in compensation follows the perception of inequity and mediates the relationship between that perception and job dissatisfaction.     

Performance and Capital Structure of Privatized Firms in Europe

Abstract

The objective of this paper is to analyze whether there are differences in performance between private firms and recently privatized firms in the European Union, as well as to determine whether ownership (state-owned versus private) and regulation affect capital structure. Focusing on economic reasons that justify privatizations, we analyze whether there are differences between recently privatized state-owned enterprises (SOEs) and private firms in their profitability, leverage and efficiency during the period 1999–2002. Also, we analyze the determinants of the capital structure of these firms. Contrary to previous studies, our results show that privatized firms are not less efficient than firms with private ownership.     

Changing Patterns of Precipitation at the Sooke Reservoir in British Columbia

The paper is a parametric and nonparametric analysis of past precipitation data. We analyze 90 years of daily precipitation data at the Sooke Reservoir in British Columbia, Canada, for evidence of climate change. We fit probability density functions (PDFs) to the data and find evidence of a structural break in the data generating process by using the Andrews-Ploberger test. To confirm this finding, we analyze higher moments of the distribution of precipitation and show that the PDFs have become more leptokurtic. The results show how the pattern of precipitation has changed.     

The effect of a destination branding strategy for rural tourism on the perceived value of the conservation of the indigenous resources of the rural tourism destination: the case of Spain

The identification of mechanisms that encourage the tourism sector to contribute to sustainable conservation is of great interest. The present work proposes the use of destination branding based on contribution to the conservation of the indigenous resources of the rural tourist destination, and studies the effect this has on perceived value for the tourist visiting the destination. A scale of destination brand identity is validated, along with a scale for destination brand positioning and another for perceived value, as viewed by the tourist, of contribution to sustainable conservation. The perceived value scale offers an overall perspective which includes: functional-affective factors; benefits–sacrifices; the pre-visit stage; and the stay in the rural tourism location. These findings make a new contribution to both literature and to the professional sector.     

Improving the effectiveness of academic-business models: an analysis of obstacles in R&D activities in service industries

This study aims to analyze how obstacles to industry–university relations affect the success of their cooperation models, using a sample of collaborations coordinated by the Technological and Industrial Development Center (CDTI) in research and development activities in service industries. The results show that for the industry partner the key considerations affecting the dynamics of cooperation with research organizations are missed deadlines and problems associated with the appropriation of results. The importance of these obstacles also has a negative effect on success, especially in aspects related to the results of the project and its overall performance.     

Linking globalization of entrepreneurship in small organizations

The field of entrepreneurship spans a wide variety of topic areas, and among the most important is that of the small and medium-sized enterprise (SME). The aim of this paper is to link entrepreneurship and SMEs. Attempting to generalize the outcomes of entrepreneurship in small organizations from different sectors, countries or industries should be activities that are part of daily life on an international scale. In extracting and transferring the outcomes of this research into entrepreneurship and SMEs, policy makers should see an aspect that must be consolidated within the environment of international globalization that surrounds us. It should not be forgotten that what starts out as small (i.e. an SME) can become large over time and this entrepreneurship can form a part of a new organizational structure. A brief overview of the contents of each of the articles included in this special issue on the globalization of entrepreneurship in small organizations is also presented herein.