The public sector and health care

This paper specifies a model of the determinans of total expenditure on health care. The model shows how this expenditure is divided between the public and private sectors when public expenditures are chosen by majority rule.From the theoretical model I derive two equations determining the private and public expenditures on health care as shares of GDP. The equations are estimated using OECD panel data with two-way fixed effects and with simultaneous correction for heteroeskedasticity and serial correlation. The results include estimates of the price and income elasticities of public and private demands for health care as well as estimates of the crowdingout effects of public on private expenditures.Paper presented at the 51st Congress of the International Institute of Public Finance.     

Weak cognitive image of cultural tourism destinations

The current study aims to take an in-depth look at the perceived image of an inland cultural tourism destination. This destination has traditionally had a weak image, making it important to study the components of this image and the factors influencing it in order to identify the best strategies for improving the destination’s positioning with respect to its image. This research is part of the ATLAS Cultural Tourism Research Project, which focuses on the image of tourist destinations. The basic questionnaire prepared by ATLAS and applied in a number of different countries is the key element of the survey. The results obtained show the different influences of factors such as information sources (distinguishing between induced, organic and autonomous sources), previous visits to the destination and the places visited during the tourist’s stay on the overall image of the city. This research will help public institutions to project the image of destinations in their target markets using precise information channelled through the appropriate media. In global terms we try to contribute to the study of factors influencing image formation in the case of inland cities not yet on the tourist map, but whose potential resources could make them obvious cultural tourism destinations. From this perspective, the influence of cognitive attributes in forming the image, as well as the atmosphere the tourist experiences in the city as a psychological attribute, have been studied.     

Capital Structure in an Industry Equilibrium with Endogenous Liquidation Values

This paper investigates the interaction between financial structure,liquidation values and product market equilibrium. Liquidation values depend on how many firms are liquidated, and therefore on the industry equilibrium of capital structures and of technology choices.We show that firms using a technology with high liquidation value issue lessdebt than those with low liquidation value even if these ones may beinefficiently liquidated. With respect to the equilibrium in the industry,we obtain that even if in equilibrium all firms use the same technology,firms will use widely different capital structures.     

Toward a cross‐cultural theory of “exemplary organizations”: Evidence from Cuba

Management interest in “good companies to work for,” or “exemplary organizations,” has attracted the interest of researchers in the United States and Europe. We contribute to the literature on exemplary organizations by studying the representation of “exemplary organizations” in an unusual context, Cuba, and by inviting scholars to explore the cross‐cultural differences between what in different countries is viewed as an exemplary organization. Until now, studies on the best companies to work for have focused on companies operating in capitalistic economies. We aim to develop a better understanding of the representation of what a good place might be in an economic and ideological context that is in sharp contrast with the contexts in which this theme has been studied previously. © 2007 Wiley Periodicals, Inc.     

The disclosure of risk in financial statements

The accounting information currently issued by firms is not wholly adequate when used for decision making purposes, and within that process, for forecasting, for which additional information on risks is required. Therefore a reform of the current framework becomes necessary. Within this reform an adequate scheme and typology for the risks facing firms must be established and a set of specific risk quantification models must be designed. This paper focuses on both issues, showing all the risks that can affect firms and proposing a quantification model for each one.     

Size,Age and Activity Sector on the Growth of the Small and Medium Firm Size

Although corporate growth is one of the most researched subjects in different areas of economic science, it is not currently based on a general theory or generally accepted conceptual definition. In spite of this, growth has usually been considered an essential objective for a firm, contributing to its survival and competitiveness. This work aims to provide a more in-depth study of the factors that condition the growth of small and medium-sized firms, by offering some empirical evidence that will contribute to its modelling, especially in relation to the influence of size, age and activity sector. In this context, we shall attempt to contrast the validity of Gibrat's approach and the Learning Theory.