On the heterogeneous short‐term effects of minimum wages on labor demand

A strand of the literature documents no effects or even positive effects of a higher minimum wage on employment. This evidence is frequently linked to the existence of monopsonistic labor markets or search frictions. However, empirical studies show that these findings could be related to a low short‐term minimum wage–employment elasticity in a competitive labor market. We show that mixed theoretical employment effects of a minimum wage policy can be predicted in the short term in assignment economies with price‐taker agents and no search frictions.     

Intermediate units in multinational corporations: A resource dependency view on coordinative versus entrepreneurial roles

Due to the dispersion of headquarters’ activities across organizational and geographical boundaries, intermediate units (IUs) are emerging as a key actor of international business. IUs are intermediate structural layers between headquarters (HQ) and local subsidiaries with specific HQ responsibilities. Our study relies on original data of 67 IUs and, taking on a Resource Dependence approach, explores empirically the two HQ roles attributed to IUs: coordinative versus entrepreneurial. According to our results, the main differences between both roles relate to external network embeddedness, internal network position and autonomy. We argue that these differences arise from the dominant sources of power in each role. These findings have signi?cant relevance for theory development and managerial practice as we provide a starting point for understanding the dispersion of complex HQ systems as well as how those systems are discharged and add value.     

Exploring the customer's intention to switch firms: The role of customer‐related antecedents

This study examined the customer‐related antecedents of the customer's intention to switch firms. Customer citizenship behavior was a key element in this study. Scholars have extensively studied the antecedents of customer citizenship behavior. However, the way that customer citizenship behavior relates to other attitudinal variables and the intention to switch has scarcely been analyzed. The proposed hypotheses were verified using partial least squares variance‐based structural equation modeling applied to 947 users of beauty care service firms in five countries. The results suggest that customer citizenship behavior is an antecedent of satisfaction, trust, and attitudinal loyalty. Two of these variables influence customers’ intentions to abandon relationships with the service provider. The implications of these findings enhance managers’ and scholars’ understanding of the determinants of customers’ intentions to switch firms.     

Determinants of corporate social responsibility and business ethics education in Spanish universities

The current economic crisis, unsustainable growth, and financial scandals invite reflection on the role of universities in professional training, particularly those who have to manage businesses. This study analyzes the main factors that might determine the extent to which Spanish organizational management educators use corporate social responsibility (CSR) or business ethics stand‐alone subjects to equip students with alternative views on business. A web content analysis and non‐parametric mean comparison statistics of the curricula of undergraduate degrees in all universities in Spain were conducted. The main conclusion of this paper is related to the Bologna effect in Spanish universities. Comparing our results with prior research in this matter, it is demonstrated that the main reason that explains the increase of CSR and ethical education in Spain is the Bologna process and its adaptation to the European Higher Education Area. Also, private universities in Spain are more likely to require an ethics course than public universities. Other factors, such as size, political orientation, or related to CSR chairs are not statistically explanatory of CSR and ethical education.     

ROSA,ROSAE, ROSIS: modelling a regional open sectoral innovation system

The literature on territorial innovation modes has identified the development of a diverse set of innovation systems at multiple levels of analysis. However, there are certain gaps that do not allow their adaptation to the particularities of certain territories. Despite the multiple concepts related to innovation systems approach, the state of the art does not yet provide a useful analytical approach for a deep and comprehensive characterization of territories with a high sectoral and technological specialization. This paper introduces an analytical framework based on a regional open and sectoral innovation system, which is qualitatively tested in the Durango County (Spain). The aim of this paper is to introduce a subtype of innovation system that meets the requirements and needs of a located micro-territory with a high level of sectoral specialization.     

El desempeño económico financiero y responsabilidad social corporativa Petrobrás versus Repsol

Alterations in the institutional environment, as a result of the markets integration process and the consequent alterations in stakeholders’ conduct are one of the important vectors of changes in companies’ behavior. In that context, in addition to their yields those companies happen to worry about their attitudes in relation to social and environmental factors. Thus, the corporate social responsibility (CSR) is seen as one more strategy to maintain or increase their income and to harness the enterprise development. The main purpose of this study is the verification of the existing relation between Social Responsibility and the economic and financial performance of two companies in the business of Petroleum, Gas and Bio-combustibles. The investigation was based on a comparison of social-environmental practices developed by Petrobras S/A (Brazil) and Repsol S/A (Spain). For the purpose of verification of the relation between social-environmental performance and the economic-financial one, a linear regression analysis was carried out.     

Regional variations in entrepreneurial cognitions: Start-up intentions of university students in Spain

Empirical research has recently paid considerable attention to the role of environmental factors in explaining regional variations in entrepreneurial activity. However, cognitive models have not usually included these factors in their analyses. Therefore, the main objective of this study is to identify some of the environmental cognitive elements that may explain regional differences in start-up intentions. Thus, an entrepreneurial intention model is developed, theoretically based on the planned behaviour approach, institutional economic theory and social capital theory. The empirical analysis is carried out using structural equation techniques over a sample of 549 final year university students from two Spanish regions (Catalonia and Andalusia). Results confirm that valuation of entrepreneurship in each region helps explain regional differences in entrepreneurial intentions. As expected, social valuation of the entrepreneur was higher in the more developed region (Catalonia), positively affecting perceived subjective norms and behavioural control. In Andalusia, the influence of perceived valuation of the entrepreneur in the closer environment was more important, affecting attitude towards the behaviour and subjective norms. These results explain some of the differences in the pool of potential entrepreneurs in each region. They also justify the need by public-policy decision-makers to promote more positive entrepreneurial values in relatively backward regions.     

Value at Risk and Economic Growth

The improvement of data statistics as well as the econometrician methods have facilitated the introduction the new variables and factors I the economic growth analysis. In this sense, real variables have mainly been considered in the economic growth studies, but not financial or risk management aspects. In this sense, it is interesting to analyze the relationship between economic growth and value at risk and the feed-back process. The goal of the paper is to analyze the relationship between economic growth and risk management and the feed-back process. We will consider economic variables, including economic growth, rule of law, human capital, fiscal policy and monetary policy, among others, in our analysis. We will analyze the theoretical relationships between these variables and risk and the effects of risk on economic growth. We will also develop an empirical analysis considering the case of 15 European Union countries.

The factor content of regional bilateral trade: The role of technology and demand

The Heckscher–Ohlin–Vanek (HOV) model in its strict form has been strongly rejected by the data. Relaxing some assumptions of the standard HOV model is key to find improvements in its performance. We apply the Davis and Weinstein (2001) methodology to analyse the validity of the HOV model using regions rather than countries. Surprisingly, our results using data for 17 Spanish regions are similar to theirs with international data for OECD countries. Accounting for technological differences improves the predictive capacity of the factor proportions model and including trade costs and geography reduces significantly the missing trade problem. However, relaxing the assumption of factor price equalisation does not improve the performance of the HOV model in a regional setting.     

France in the global economy: a structural approximate dynamic factor model analysis

This study identifies the main shocks that cause fluctuations in French output and their channels of transmission. It uses a large-dimensional structural approximate dynamic factor model. There are three main findings. First, common shocks, especially demand shocks, which seem to originate from the U.S., play an important role in explaining French economic activity. While international trade, relative prices, and foreign direct investment (FDI) flows are the main channels of transmission, the stock market, consumer confidence, and interest rates also matter. Second, France’s integration with the rest of the world has increased over time. Third, there is some tentative evidence of regional components in explaining French output fluctuations; country-specific components also contribute. The predominance of exogenous factors affecting French output, the asymmetry in the transmission of shocks, and France’s participation in a currency area argue for making French goods, services, and labor markets as flexible as possible.