Diversity and business performance: 50 years of research

This study has carried out a review of the literature appearing on diversity in the last 50 years. Research findings from this period reveal it is impossible to assume there is a pure and simple relationship between diversity and performance without considering a series of variables that affect this relationship. In this study, emphasis has been placed on the analysis of results arrived at through empirical investigation on the relation between the most studied dimensions of diversity and performance. The results presented are part of a more extensive research.     

Relation between social-environmental responsibility and performance in hotel firms

In the present work we first theoretically contextualise the importance of social and environmental responsibility in the firm, at the same time analysing the relation between this variable and firm performance, for which the literature provides contradictory results. In the hotel sector this controversy is particularly relevant, given the intense relations and dependencies that this industry has with its environmental context. Subsequently, we conduct an empirical study centring on the Spanish hotel sector, whose findings point to a strong and positive relation between both variables.     

Race and Income Distribution: Evidence from the USA,Brazil and South Africa

The aim of this paper is to provide some empirical evidence about black–white differentials in the distribution of income and wellbeing in three different countries: Brazil, the USA and South Africa. In all cases, people of African descent are in a variety of ways socially disadvantaged compared with the relatively more affluent whites. We investigate the extent of these gaps in comparative perspective, and analyze to what degree they are associated with differences in the observed characteristics of races, such as where they live, the types of household they have, or their performance in the labor market. We undertake this analysis with the Oaxaca–Blinder decomposition at the means and with a propensity score approach at the entire distribution. Our results show how the factors underlying the racial divide vary across countries and income quantiles.     

Model Analysis of the Relationship Between Strategic Organization Knowledge and the Use of Information Systems in Firm Performance in Brazil

Information Technology （IT） consolidates as an essential element to support the business strategies to survive and rapidly adapts to changes in the competitive environment. This paper examines the impact of the use of information systems （IS） and strategic organization knowledge （SOK） on firm performance in 150 Brazilian companies. The study uses partial least squares structural equation modeling （PLS-SEM） and establishes models to express the relationship among the constructs examined. The study identifies that the direct influence of 1S use on performance is moderately significant. However, when mediated by orientation strategy, the total effect of IS use on firm performance is demonstrated to be highly significant. The model explains 54% of the variability of firm performance and confirms IS use as a fundamental resource to support strategic business processes.     

Are complementary reforms a “luxury” for developing countries?

This paper investigates the impact of complementarity reforms on growth and how it depends on GDP per capita. Based on reform data for six policy areas compiled from various sources during the period 1994–2006 for over 100 countries, we compute composite indicators of reform level and complementarity. We provide qualitative justification for the existence of pair-wise complementarities among policy areas. We then use cross-section and panel data estimates to test the effect of reform level and complementarity on GDP per capita growth. We found reforms to be positively related and their dispersion (or the inverse of complementarity) negatively related to growth, controlling for initial conditions, monetary stability and other structural and institutional variables, as well as endogeneity of reform level and complementarity. We show that the effect of policy complementarity is a stronger condition for sustainable growth in developing than in advanced countries, to conclude that complementary reforms are not a ‘luxury’ for developing countries.     

The public bond offering of Petróleos de Venezuela S.A.

In April 2007, Petróleos de Venezuela S.A. (PDVSA) issued debt for USD 7.5 billion, the largest debt offering to date by a Latin American company. The conditions surrounding this issue, which was denominated and tradable in dollars, but payable in bolivars, were quite special, particularly when considering the strict foreign exchange control system put into place by the Venezuelan government in 2003. The fact that the bond issue attempted to fulfill the dual purpose of offering dollars to local companies and investors in the midst of prevailing exchange rate controls, while helping to finance PDVSA as a company, creates a unique dilemma that is ideal for class discussion. This teaching case provides the information necessary for estimating and proposing a price for PDVSA's bond offer.     

The Influence of Improvements in Accounting Standards on Earnings Management: The Case of IFRS

This article examines the effect of improvements in the quality of International Financial Reporting Standards (IFRS) on the level of earnings management. In order to achieve this aim, we study the accounting quality of German listed companies through discretionary accruals yielded from 1998 to 2006. We assess the effectiveness of efforts by the International Accounting Standards Board to improve IFRS by using two indices that consider the revision process of the standards, and their mandatory application. Our results indicate that the improvement of accounting standards quality significantly reduces the level of reported negative discretionary accruals of the German listed firms during the period of analysis, once incentive variables are controlled. Further, companies gradually assume the quality of the new standards from the moment they can be voluntarily applied.     

The theoretical structure of producer willingness to pay estimates

This article analyzes the theoretical underpinnings of producer willingness to pay (WTP) for new inputs. In addition to conceptualizing the producer WTP function, we derive its comparative statics and show how these properties can be used to estimate quantities demanded or supplied and price elasticities. We also discuss implications of the comparative statics.     

Market representations in industrial marketing: Could representations influence strategy?

A central question in industrial marketing is whether the form in which the market of a firm is represented influences the marketing strategy. This question has been studied generally through case study research, and quantitative evidence is limited. In response to this limitation, this paper reports on a quasi-experiment investigating whether market representations have a constructive aspect in business. Empirically, this study compares two types of market representations - ostensive and performative - in order to test for influence exacted in two well-established strategies in industrial marketing - service focus and product differentiation. Results indicate that service focus is selected when market representations rely on agency in firms (i.e., performative), and product strategies are selected when structures are emphasized (i.e., ostensive). This paper contributes to methodology development by expanding the link between a case study approach and quasi-experiments explaining how quasi-experiments can replicate findings in industrial marketing.