Gobierno corporativo,financiamiento y género: un estudio de las pymes emisoras de títulos en los mercados de valores argentinos

The aim of this work is to study corporate governance (CG) in small and medium enterprises (SMEs) from a gender perspective. In particular, we study the participation of women in ownership, management (board and senior management) and external audit in SMEs participating in the Argentinean Securities Market. The results show that participation of women in ownership and in external audit has a significant relationship with financing decisions. However, we do not find evidence of relations among different levels of GC and gender.     

Technological and non-technological innovation and productivity in services vis-à-vis manufacturing sectors

In this paper, the links between investment in innovation activities, innovation outputs (technological and non-technological innovation) and productivity in services vis-à-vis the manufacturing sector are explored using innovation survey data from Uruguay. The size of firms, their cooperation in R&D activities, the use of public financial support, patent protection and the use of market sources of information are very important drivers of the decision to invest in innovation activities across sectors. The main determinants of technological and non-technological innovations are the level of investment in innovation activities and the size of the firm. The results indicate that both technological and non-technological innovations are positively associated to productivity gains in services, but non-technological innovations have a more important role. The reverse happens for manufacturing, where technological innovations are more relevant for productivity.     

New identities from remnants of the past: an examination of the history of beer brewing in Ontario and the recent emergence of craft breweries

Abstract

We present an exploratory analysis of historical narratives and data covering 200 years of beer brewing in the Canadian province of Ontario. These data are used to illuminate the process of collective identity emergence in established organisational fields. We argue that established fields are typically littered with identity remnants from ancestral organisations and related institutional configurations that can facilitate the successful emergence of new collective identities. In our analysis we first show how multiple identity elements fell by the wayside as the beer brewing field matured and settled on a corporate path. We go on to detail how some of these identity elements were subsequently recovered during the recent decades which marked the successful emergence and proliferation of craft beer brewing. Our study has implications for research on collective identity and organisational legacy, and we stress the importance of taking a historical lens for understanding present day phenomena.     

A consistent analysis of diversification decisions with non-observable firm effects

The empirical analyses of firm diversification decisions, both for new activities (new products) and markets (for example, new routes for airlines), have usually estimated a binary dependent variable model for each of the decisions the firm makes. To obtain consistent estimators, every relevant effect must be considered in the specification. As this will hardly happen, the presence of nonobserved firm effects (either because such data do not exist or because it is impossible to obtain them) must be econometrically treated, because it causes inconsistency in the estimations. In this paper we propose to use the estimators provided by the maximization of the conditional likelihood function in problems of this kind because they give consistent results even when unobserved firm effects are present. Finally, we apply this technique to an example of diversification among Spanish manufacturers. © 1997 John Wiley & Sons, Ltd.     

Sustainable tourism development in islands: a case study of Gran Canaria

While sustainable development is recognized as an essential requirement for achieving economic goals without degrading the environment, major problems arise in defining methods for formulating and implementing sustainable strategic actions at the macro‐level, including islands. Bearing in mind this limitation, this research paper will attempt to present a strategic planning methodology for drawing up strategic issues for tourism development from the point of view of sustainability, which is particularly appropriate to islands. The authors first review existing literature on sustainable development with a view to defining a conceptual approach to sustainability and identifying particular areas for sustainable tourism development in the island context. A methodology for formulating strategic issues for sustainable tourism development in Gran Canaria is then drawn up. Sociocultural aspects, the environment and the economy, with particular emphasis on tourism, are examined in order to identify major strategic issues for sustainable development in Gran Canaria. Copyright Copyright © 1999 John Wiley & Sons, Ltd and ERP Environment.     

Running for pleasure or performance? How store attributes and hedonic product value influence consumer satisfaction

Previous retailing studies have linked consumer satisfaction to perceived hedonic or utilitarian product value. This research extends previous studies by examining how the context in which the product is purchased (store attributes) and product value influence consumer satisfaction. We conducted a field study with 213 consumers attending two major running events. The findings from structural equation modelling suggest that a specific combination of store attributes (tangible and intangible) and hedonic product value has a positive influence on satisfaction. Results also show that tangible store attributes have a stronger positive impact on utilitarian (vs. hedonic) product value, and that intangible store attributes have a positive impact on hedonic product value. However, we found that only hedonic product value has a positive impact on satisfaction. This research contributes to theory by showing that a match between store attributes (tangible and intangible) and hedonic product value can positively influence satisfaction. In managerial terms, the findings provide insights on how to improve consumer satisfaction in retail environments through store attributes and hedonic product value.     

Chinese Outward Foreign Direct Investment: A Review of Empirical Research

In the past decade, Chinese outward foreign direct investment (OFDI) has become a major element of global capital flows. As a consequence, recent years have witnessed an increasing growth in the number of papers focusing on Chinese companies “going global.” This paper reviews 112 empirical papers focusing on Chinese OFDI that were published in major scholarly journals between 2002 and 2014. We report on individual and institutional contributions, citations, the theories and methods used and the research topics. We also identify the research gaps and discuss the implications of our literature review for future theory building.     

Using FRED data to teach price elasticity of demand

In this article, the authors discuss the use of Federal Reserve Economic Data (FRED) statistics to teach the concept of price elasticity of demand in an introduction to economics course. By using real data in its computation, they argue that instructors can create a value-adding context for illustrating and applying a foundational concept in economics. Additionally, this pedagogical strategy contributes to developing an expected proficiency for economics majors related to “interpreting and manipulating data” (Hansen 2009, 2012). The authors provide step-by-step instructions on how to use FRED to compute the price elasticity of demand for motor vehicle fuels and gasoline as well as examples of in-class discussion questions and take-home assignments related to this instructional technique.     

Type of diversification and firm resources: new empirical evidence from the Spanish tourism industry

This paper analyses the diversification strategies followed by tourism firms from the perspective of the resource‐based view. More specifically, it seeks to verify whether the composition of the firms' resources has a bearing on the decision to undertake one type of diversification or another (related or unrelated). From a mail survey to 80 Spanish tourism firms, we identified 94 entries into new business areas. We applied an ordered logit regression and have statistically confirmed that intangible resources lead to a more related type of diversification. Copyright © 2008 John Wiley & Sons, Ltd.     

A confirmatory analysis of the unit root hypothesis for OECD consumption-income ratios

This article investigates the existence of a unit root in the consumption-income ratio for a sample of 23 OECD countries over the period 1960 to 2005. For that purpose, we first use recently developed unit root tests with good size and power. Second, we employ the more powerful panel unit root tests of Pesaran (2003 Pesaran, MH. 2003. A Simple Panel Unit Root Test in the Presence of Cross-Section Dependence mimeo, Cambridge University [Google Scholar]) and Smith et al . (2004) that take the null of nonstationarity and a bootstrap version of the test of Hadri (2000 Hadri, K. 2000. Testing for stationarity in heterogeneous panel data. The Econometrics Journal, 3: 148–61. [Crossref] , [Google Scholar]) that takes stationarity as the null hypothesis. Overall, our confirmatory analysis renders clear-cut evidence that OECD consumption-income ratios contain a unit root.