Weakening political connections by means of regulatory reform: Evidence from contracting out water services in Spain

One area of public policy where rent-seeking and favoritism is relatively common is the contracting out of public services. Private firms can improve their chances of obtaining contracts by bribing politicians or public servants and funding political parties. In the same vein, firms can gain access to policymakers by hiring influential former politicians—a practice commonly referred to as revolving-doors. In this paper, we use information from 922 privatizations of water services in Spanish municipalities between 1984 and 2016 and multinomial logistic regression techniques to study the association between specific firms securing contracts and the political parties ruling the municipalities. We find robust statistical evidence of an association between the Popular Party (Partido Popular or PP) and the firm Aqualia, part of the large Spanish holding company Fomento de Construcciones y Contratas (FCC), which is known to have funded the Popular Party. Furthermore, former PP politicians have been appointed to top positions in the FCC Board of Directors. However, this relationship weakened after the institutional reform of 2007 on public procurement and financing of political parties, which is empirically evaluated in this paper.     

Visitors’ experiences with Intangible Cultural Heritage: a case study from Córdoba,Spain

The development of heritage tourism has experienced significant growth in recent years. In this paper, we present an analysis of the relationship between an Intangible Cultural Heritage, the Fiesta of the Patios in Córdoba, Spain and tourism development. The methodology used in this research consisted of fieldwork to determine the significance of the demographic factors and variables in the level of satisfaction with the visit to the Fiesta of the Patios. Similarly, the contribution of these variables to the level of satisfaction was analysed.     

Marketing capabilities, stakeholders’ satisfaction, and performance

This study shows that the relationship between marketing capabilities and firm financial performance can be better understood when it is drawn using stakeholder satisfaction as an additional variable, in the context of the service industry. Results from 152 Spanish service organizations indicate that superior marketing capabilities lead to higher levels of stakeholder satisfaction, which consequently improves financial firm performance. Results complement previous research which found a strong relationship between marketing capabilities and performance when the latter includes financial and nonfinancial indicators. Marketing capabilities improve not only customer satisfaction but also employee fulfillment which, in turn, may increase financial indicators.     

Autonomy in trip planning and overall satisfaction

ABSTRACT

Tourists increasingly rely on Internet-based, autonomous resources to gather information, book, and pay for their trips; this increasing autonomy may affect their overall satisfaction. Using data about how Spanish tourists search for information and complete their bookings, this study analyzes the influence of tourist autonomy on overall satisfaction with the trip, as well as the effects of moderating characteristics related to both tourists and their trips. The results indicate a direct relationship between tourists’ autonomy and their overall satisfaction, as well as positive moderating effects of tourists’ previous travel experience and education, but negative moderating effects of trip complexity.     

Looking into global value chains: influence of foreign services on export performance

Using data from the OECD Inter-Country Input–Output database, we explore the impact of foreign services value added content of exports on export performance, specifically on duration of trade. Our data show that the share of foreign services content in manufacturing exports grows from 1995 to 2011, in a way similar to foreign goods content, and in contrast to the decreasing share of domestic services. Moreover, the share of foreign services value added content is larger for developing and emerging countries than for advanced countries. Our econometric findings confirm that foreign services value added embodied in manufacturing exports contribute positively to more resilient exports relationships, a positive effect which occurs for the three groups of manufacturing industries (high, medium and low technology industries) and, for each group, it is more pronounced for developing and emerging economies.     

Identifying and boosting “Gazelles”: Evidence from business accelerators

Why is high-growth entrepreneurship scarce in developing countries? Does this scarcity reflect firm capabilities constraints? We explore these questions using as a laboratory an accelerator in Colombia that selects participants using scores from randomly assigned judges and offers them training, advice, and visibility but no cash. Exploiting exogenous differences in judges’ scoring generosity, we show that alleviating constraints to firm capabilities unlocks innovative entrepreneurs’ potential but does not transform subpar ideas into high-growth firms. The results demonstrate that some high-potential entrepreneurs in developing economies face firm capabilities constraints and accelerators can help identify these entrepreneurs and boost their growth.     

The role of authenticity,experience quality,emotions, and satisfaction in a cultural heritage destination

ABSTRACT

Recent studies have shown the increasing importance of affective and subjective variables, such as experience quality, authenticity, and emotions in the formation of tourist satisfaction. This paper is a pioneer in jointly analysing the influence of authenticity in its double dimension, experience quality, and emotions variables on satisfaction in a cultural context. This study uses the structural equation modelling approach (Partial Least Square) and shows the direct and positive influence of objective and existential authenticity on the quality of the experience, as well as the direct and positive influence of the quality of experience on emotions. It is highly relevant to focus on both cognitive and affective dimensions of authenticity to improve the quality of the tourists’ experience. No previous studies in the literature examine the possible relationships between the different dimensions of authenticity on the quality of the experience and on emotions. The work reveals the importance of such variables in generating greater tourist satisfaction with the visited destination.     

Further econometric evidence on the extent and sources of cost savings in competitively tendered contracts

Empirical Economics - By estimating a flexible nonlinear regression model of savings on an original dataset of service procurements conducted by the Spanish Armed Forces, this paper provides robust...     

Impact of lifestyle oriented-motivation and corporate social responsibility on multiadventure sports firms´ performance

International Entrepreneurship and Management Journal - The number of sports firms has grown in recent years, along with the emergence in this sector of so-called lifestyle entrepreneurs. However,...     

Durbin’s random substitution and conditional Monte Carlo

Durbin (Biometrika 48:41–55, 1961) proposed a method called random substitution, by which a composite problem of goodness-of-fit can be reduced to a simple one. In this paper we provide a method of finding the p-value of any test statistic, for a composite goodness-of-fit problem, based on the simulation of a large number of conditional samples, using an analog of Durbin’s proposal in a reverse-type application. We analyze a Bayesian chi-square test proposed in Johnson (Ann Stat 32:2361–2384, 2004) which relies on a single randomization and relate it with Durbin’s original method. We also review a related proposal for conditional Monte-Carlo simulation in Lindqvist and Taraldsen (Biometrika 92:451–464, 2005) and compare it with our procedure. We show our method in a non-group example introduced in Lindqvist and Taraldsen (Biometrika 90:489–490, 2003).