Managerial practices driving knowledge creation,learning and transfer in translational research: an exploratory case study

Despite its growing popularity in the biomedical literature, the particular phenomenon of translational research management has not been addressed from an organizational and strategic perspective yet. Our study aims to fill this gap by identifying a set of managerial practices that could influence how knowledge is created, amplified and transferred from biomedical research both to clinical practice and the productive sector. As a result of the theoretical review, we have proposed a preliminary model to guide our empirical work. We have developed an exploratory case study to gather organisational information from an outstanding translational research center. The results obtained from the analysis have allowed us to build an induced model of managerial practices that both affect the creation, integration and transfer of knowledge in the translational research organization studied, as well as derives a set of research propositions. Finally, we present the main academic and managerial implications of the work, together with its limitations and related future research lines.     

Parameter estimates comparison of earnings functions in the PSID and CPS data, 1976–2007

Comparing earnings equations in the Panel Study of Income Dynamics (PSID) and the Current Population Survey, we find that the PSID considerably underestimates the returns to education during the 1992–2007 period. Non-random selection in the PSID sample appears to be the reason.     

Congestion effects in a public-good economy

This paper considers a public-good economy with congestion, where participants jointly produce a public good from input of a private good. This economic model gives rise to a transferable-utility game, the profit game, that depends on consumer preferences and a congestion parameter. The simplicity of the game allows the maximum level of congestion that guarantees the nonemptiness of the core of the economy to be determined. It is known that the sustainability of the Lindahl equilibrium in the core of the economy depends on the distribution of profits. In this paper two distributions of profits are compared: the Lindahl solution and the marginal-contribution solution. The latter is more often in the core than the Lindahl solution which in turn Lorenz-dominates the marginal-contribution solution.     

Non‐Homothetic Multisector Growth Models

Multisector growth (MSG) models are dynamic versions of computable general equilibrium (CGE) models. Non‐homothetic preference (utility) functions are required for the evolution of factor allocations and industrial structures in accordance with consumption expenditure patterns implied by the non‐unitary income elasticities observed in all budget data since Engel in the 1850s. But comparative static general equilibrium solutions and particularly solving the dynamics of MSG models require explicit specifications of all demand and cost (price) functions. On the demand side, the constant differences of elasticity of substitution (CDES) non‐homothetic indirect utility functions and Roy's identity provide the explicit Marshallian demand functions and budget shares. Sectorial constant elasticity of substitution (CES) cost functions and Shephard's lemma provide the explicit relative commodity price functions and the sectorial cost shares and capital–labor ratios. Walrasian equilibria are given by one equation and the multisector dynamics by three differential equations. Benchmark solutions are given for three cost regimes of a 10‐sector MSG model. History patterns of industrial/allocational evolutions are recognized.     

Housing and cost of living: Application to the Spanish regions

Spain is a home-owner economy, and housing is a key good for determining the cost of living. However, its treatment in indices such as the Spanish Consumer Price Index (CPI) makes it impossible to measure the real impact of housing on the cost of living. This issue is especially relevant at the regional level, where the differences in the housing markets are very substantial. This paper demonstrates the importance of taking account of owner occupied housing in a measure of the cost of living for Spain.     

On the Efficiency of Bankruptcy Law: Empirical Evidence in Spain

The current economic crisis is showing one of the main problems that many companies in financial distress have to face, namely, the impact of bankruptcy law in relation to companies and firms. This paper aims to analyze the bankruptcy law ex‐ante efficiency when companies are in financial distress. To test it out, two research questions are submitted: (i) Is solvency, the criterion used in the Spanish law, the best one to assess the relative significance of the main indicators, which determine bankrupt firms? (ii) Is the Spanish bankruptcy law efficient according to solvency or are there better criteria? To answer them, a logistic regression model is conducted. The sample embraces 1,387 firms in Spain, the data being obtained from 12 Commercial Justice Courts complemented with financial information. The main conclusion is that the solvency criterion is adequate to classify bankrupt companies although currently Spanish Bankruptcy law is not as efficient as it could be. Additionally, the relevant companies' indicators, which explain the financial distress procedure, are presented. Copyright © 2013 INSOL International and John Wiley & Sons, Ltd     

Board diversity reforms: Do they matter for EU bank performance?

We examine the impact of governance reforms related to board diversity on the performance of European Union banks. Using a difference‐in‐difference approach, we document that reforms increase bank stock returns and their volatility within the first 3 years after their enactment. The type of reform matters, with quotas increasing return volatility. The effectiveness of reforms depends on a country's institutional environment. The impact of reforms on return volatility is found to be beneficial in countries more open to diversity, with common law system and with greater economic freedom. Finally, reforms play a bigger role in banks that have ex ante less heterogeneous boards.     

The Visible Hand of corporate entrepreneurship in state-owned enterprises: a longitudinal study of the Spanish National Postal Operator

This study explores how the corporate entrepreneurship (CE) of state-owned enterprises (SOEs) evolves under varying conditions of state ownership and control, laws and norms, and competence in the market. For this purpose, we present a longitudinal case study focused on the Spanish postal operator Correos using qualitative archival data and interviews. Our results indicate that the willingness and capacity of an SOE to act entrepreneurially depends critically on its degree of autonomy from the state and on the extent to which its legal and market environments increase its dynamism, complexity, and hostility. We also show that the development of CE in an SOE may lead to improved service quality, operational efficiency, and business specialization; facilitate its market positioning; and foster its sustainability through the exploration and exploitation of strategic alliances that can increase its business scope.

     

How do UK Banks React to Changing Central Bank Rates?

This paper explores the interest rate transmission mechanism using a broad disaggregated sample of UK deposit and credit products. For a large proportion of rates the adjustment speed is time-varying, switching among four regimes according to the direction of the policy rate and its effect on the disequilibrium gap. In general, this sign asymmetry implies faster adjustment to the long run path when the policy rate revision widens the gap. There is evidence of curvature in the catch-up effect towards equilibrium, namely, large gaps entail a disproportionately faster correction although mainly for deposits. The size of the policy rate change also impacts the adjustment speed. The notable heterogeneity found across financial institutions/products regarding the presence of these nonlinear patterns raises important questions on how to assess the effectiveness of monetary policy. The cross-section heterogeneity uncovered can be explained to some extent by diversification, profit volatility, product range, market concentration and menu costs.