2012. vol. 8, núm. 2
http://hdl.handle.net/2099/12698
2024-03-19T07:58:29ZWhere is the value of cluster associations for SMEs?
http://hdl.handle.net/2099/12708
Where is the value of cluster associations for SMEs?
La Maza-y-Aramburu, Xabier de; Vendrell-Herrero, Ferran; Wilson, James R.
Purpose: To explore the role played by policies for co-operation and networking, such as cluster initiatives. We empirically examine not only the direct effect of cluster initiatives on firms’ innovation performance, but also potential moderation and mediation effects with regards effort in other internal innovation activities.
Methodology: We analyze the case of the long-running and stable Basque Cluster policy. We built using SABI an extensive sample of 1779 industrial SMEs, 132 of which are members of cluster associations.
Findings: The results show that cluster associates do not have more innovation than non-cluster associates. It also rejects the moderation role of other innovation activities (such as technology management, environmental management or R&D activities). However, the results give support to the mediation role of cluster associations in enhancing the value of innovation activities.
Practical implications: The results presented are relevant both for policy-makers seeking to achieve an optimal mix of ‘general cooperation’ and ‘activity-specific’ policies, as well as for the managers of firms who may accelerate the impacts of their innovation efforts by being members of cooperation networks.
Research limitations: There are two main limitations to the empirical analysis. Firstly, the impossibility of identifying the year in which cluster associates formally register to the cluster association through secondary sources could entail a degree of endogeneity in the direct and moderation models. Secondly, we measure innovation as labour productivity growth, which is acknowledged as only a partial measure of innovation. More generally we acknowledge that evaluations of soft policies such as that reported in this paper should be combined with complementary qualitative analysis.
Originality: Few empirical analyses have been conducted to empirically assess the efficiency of the Basque cluster policy. The research does not support the idea that cluster associates increase innovation per se. However, it reinforces the view that cluster associations can be conceived as a focal network or broker of knowledge. In particular, this could be interpreted in terms of the success of the cluster initiative as a mechanism for generating or demonstrating a certain degree of trust among firms that already engage in innovation activities, supporting in turn benefits from the exchange of their knowledge.
2012-11-07T11:54:13ZLa Maza-y-Aramburu, Xabier deVendrell-Herrero, FerranWilson, James R.Purpose: To explore the role played by policies for co-operation and networking, such as cluster initiatives. We empirically examine not only the direct effect of cluster initiatives on firms’ innovation performance, but also potential moderation and mediation effects with regards effort in other internal innovation activities.
Methodology: We analyze the case of the long-running and stable Basque Cluster policy. We built using SABI an extensive sample of 1779 industrial SMEs, 132 of which are members of cluster associations.
Findings: The results show that cluster associates do not have more innovation than non-cluster associates. It also rejects the moderation role of other innovation activities (such as technology management, environmental management or R&D activities). However, the results give support to the mediation role of cluster associations in enhancing the value of innovation activities.
Practical implications: The results presented are relevant both for policy-makers seeking to achieve an optimal mix of ‘general cooperation’ and ‘activity-specific’ policies, as well as for the managers of firms who may accelerate the impacts of their innovation efforts by being members of cooperation networks.
Research limitations: There are two main limitations to the empirical analysis. Firstly, the impossibility of identifying the year in which cluster associates formally register to the cluster association through secondary sources could entail a degree of endogeneity in the direct and moderation models. Secondly, we measure innovation as labour productivity growth, which is acknowledged as only a partial measure of innovation. More generally we acknowledge that evaluations of soft policies such as that reported in this paper should be combined with complementary qualitative analysis.
Originality: Few empirical analyses have been conducted to empirically assess the efficiency of the Basque cluster policy. The research does not support the idea that cluster associates increase innovation per se. However, it reinforces the view that cluster associations can be conceived as a focal network or broker of knowledge. In particular, this could be interpreted in terms of the success of the cluster initiative as a mechanism for generating or demonstrating a certain degree of trust among firms that already engage in innovation activities, supporting in turn benefits from the exchange of their knowledge.Impacto de la ley de igualdad en el contenido de la negociación colectiva del sector andaluz de la construcción
http://hdl.handle.net/2099/12707
Impacto de la ley de igualdad en el contenido de la negociación colectiva del sector andaluz de la construcción
Torres Martos, María Jesús; Román Onsalo, Marisa
Objeto: Este artículo analiza los contenidos del IV Convenio General de la Construcción 2007-2011 y de los Convenios Colectivos Provinciales de la Comunidad Autónoma de Andalucía con la finalidad de conocer el impacto de la Ley Orgánica 3/2007 para la Igualdad efectiva de Mujeres y Hombres en la negociación colectiva del sector de la construcción.
Diseño/metodología/enfoque: Se ha recopilado y analizado los contenidos de los nueve convenios, aplicándose en todo momento la perspectiva de género con la finalidad de identificar cláusulas y disposiciones que garanticen o busquen la igualdad real entre mujeres y hombres en las condiciones laborales.
Aportaciones y resultados: Este artículo revela que la negociación colectiva del sector de la construcción en el ámbito andaluz no está desempeñando el importante papel que se le ha otorgado como dinamizadora y garante de la igualdad entre mujeres y hombres en el ámbito laboral, lo que ha impulsado a las autoras a plantear reflexiones y recomendaciones.
Originalidad / Valor añadido: Evalúa el impacto de la Ley Orgánica 3/2007 para la Igualdad efectiva de Mujeres y Hombres y plantea una reflexión sobre el grado de cumplimiento de la misma; Purpose: This article analyzes the contents of the Fourth General Construction Agreement 2007-2011 and Provincial Collective Agreements of the region of Andalusia in order to understand the impact of the Law 3 / 2007 for Effective Equality between Women and Men in collective bargaining in construction sector.
Design/methodology: It has been compiled and analyzed the contents of the nine agreements, at all times has been applied a gender perspective in order to identify clauses and provisions so, these guarantee the real sexual equality or search it in working conditions.
Findings: This article reveals that collective bargaining in Andalusian construction sector is not playing the important role that has been given to revitalize and guarantee that equality and, therefore, this has encouraged the authoress to raising reflections and recommendations.
Originality/value: It evaluates the impact of the law for Effective Equality between Women and Men and reflects on the degree of compliance with this law.
2012-11-07T11:14:20ZTorres Martos, María JesúsRomán Onsalo, MarisaObjeto: Este artículo analiza los contenidos del IV Convenio General de la Construcción 2007-2011 y de los Convenios Colectivos Provinciales de la Comunidad Autónoma de Andalucía con la finalidad de conocer el impacto de la Ley Orgánica 3/2007 para la Igualdad efectiva de Mujeres y Hombres en la negociación colectiva del sector de la construcción.
Diseño/metodología/enfoque: Se ha recopilado y analizado los contenidos de los nueve convenios, aplicándose en todo momento la perspectiva de género con la finalidad de identificar cláusulas y disposiciones que garanticen o busquen la igualdad real entre mujeres y hombres en las condiciones laborales.
Aportaciones y resultados: Este artículo revela que la negociación colectiva del sector de la construcción en el ámbito andaluz no está desempeñando el importante papel que se le ha otorgado como dinamizadora y garante de la igualdad entre mujeres y hombres en el ámbito laboral, lo que ha impulsado a las autoras a plantear reflexiones y recomendaciones.
Originalidad / Valor añadido: Evalúa el impacto de la Ley Orgánica 3/2007 para la Igualdad efectiva de Mujeres y Hombres y plantea una reflexión sobre el grado de cumplimiento de la misma
Purpose: This article analyzes the contents of the Fourth General Construction Agreement 2007-2011 and Provincial Collective Agreements of the region of Andalusia in order to understand the impact of the Law 3 / 2007 for Effective Equality between Women and Men in collective bargaining in construction sector.
Design/methodology: It has been compiled and analyzed the contents of the nine agreements, at all times has been applied a gender perspective in order to identify clauses and provisions so, these guarantee the real sexual equality or search it in working conditions.
Findings: This article reveals that collective bargaining in Andalusian construction sector is not playing the important role that has been given to revitalize and guarantee that equality and, therefore, this has encouraged the authoress to raising reflections and recommendations.
Originality/value: It evaluates the impact of the law for Effective Equality between Women and Men and reflects on the degree of compliance with this law.l efecto del capital humano sobre la innovación: Un análisis desde las perspectivas cuantitativa y cualitativa de la educación
http://hdl.handle.net/2099/12706
l efecto del capital humano sobre la innovación: Un análisis desde las perspectivas cuantitativa y cualitativa de la educación
Fernández-Rodríguez Labordeta, Jorge; Giménez, Gregorio
Objeto: El presente trabajo trata de determinar, empíricamente y para una muestra amplia de países, qué tipo de variables educativas pueden explicar mejor los procesos de innovación tecnológica, aproximados a través del número de patentes per cápita. Para ello, utilizamos un modelo que explica la capacidad innovadora de los países utilizando seis variables educativas: dos variables de cantidad –años medios de estudio, totales y universitarios- y cuatro de calidad –basadas en los resultados obtenidos en distintas pruebas internacionales de conocimiento-.
Diseño/metodología/enfoque: El análisis se lleva a cabo para una muestra de más de 60 países, haciendo uso de técnicas de corte transversal para la década 2000-2010.
Aportaciones y resultados: A partir de los resultados econométricos, se concluye que la innovación tecnológica, aproximada por el número de patentes per cápita, es explicada en mayor medida por la calidad educativa que por la cantidad de educación. La actividad innovadora está fuertemente vinculada al éxito en términos de competencias educativas, al tipo de competencias que se adquieren y a la excelencia educativa. A su vez, se evidencia la importancia que tiene la interacción entre la calidad y la cantidad educativa. Al introducir los efectos cruzados es cuando el modelo propuesto obtiene un mayor poder explicativo.
Originalidad / Valor añadido: Frente a la perspectiva tradicional en la literatura sobre capital humano, que hace uso de indicadores basados en la cantidad de educación (habitualmente años medios de estudio), el trabajo incorpora indicadores basados en los conocimientos adquiridos. Además, plantea la interacción de variables cuantitativas y cualitativas. En conclusión, la utilización de una doble perspectiva a la hora de medir el capital humano y estudiar su interrelación con el desarrollo de innovación constituye una novedad tanto teórica como metodológica.; Purpose: This research attempts to determine, empirically and for a large sample of countries, which kind of educational variables can better explain technological innovation processes, approximated by the number of patents per capita. To do this, we use a model that explains the innovative capacity of the countries employing six educational variables: two quantitative variables –average (total and university) years of schooling- and four qualitative variables -based on outcomes of different international tests of knowledge-.
Design/methodology: The analysis is carried out for a sample that includes more than 60 countries, using cross-section techniques for the decade 2000-2010.
Findings: From the econometric results we conclude that technological innovation, proxied by the number of patents per capita, is explained better by the quality of education than by the quantity of education. Innovative activity is strongly linked to success in terms of educational skills, the type of skills acquired and educational excellency. Furthermore, the interaction between educational quality and quantity is a key factor. When we introduce the cross effects of both variables, the proposed model yields to a greater explanatory power.
Originality/value: The traditional perspective on human capital literature uses indicators based on the quantity of education, usually average years of schooling. This study incorporates indicators based on skills, measured by the results of international tests of knowledge. The introduction of the dual perspective, quantitative and qualitative, to measure human capital and to determine what kind of indicators explains better innovation, is an outstanding novelty.
2012-11-07T10:55:11ZFernández-Rodríguez Labordeta, JorgeGiménez, GregorioObjeto: El presente trabajo trata de determinar, empíricamente y para una muestra amplia de países, qué tipo de variables educativas pueden explicar mejor los procesos de innovación tecnológica, aproximados a través del número de patentes per cápita. Para ello, utilizamos un modelo que explica la capacidad innovadora de los países utilizando seis variables educativas: dos variables de cantidad –años medios de estudio, totales y universitarios- y cuatro de calidad –basadas en los resultados obtenidos en distintas pruebas internacionales de conocimiento-.
Diseño/metodología/enfoque: El análisis se lleva a cabo para una muestra de más de 60 países, haciendo uso de técnicas de corte transversal para la década 2000-2010.
Aportaciones y resultados: A partir de los resultados econométricos, se concluye que la innovación tecnológica, aproximada por el número de patentes per cápita, es explicada en mayor medida por la calidad educativa que por la cantidad de educación. La actividad innovadora está fuertemente vinculada al éxito en términos de competencias educativas, al tipo de competencias que se adquieren y a la excelencia educativa. A su vez, se evidencia la importancia que tiene la interacción entre la calidad y la cantidad educativa. Al introducir los efectos cruzados es cuando el modelo propuesto obtiene un mayor poder explicativo.
Originalidad / Valor añadido: Frente a la perspectiva tradicional en la literatura sobre capital humano, que hace uso de indicadores basados en la cantidad de educación (habitualmente años medios de estudio), el trabajo incorpora indicadores basados en los conocimientos adquiridos. Además, plantea la interacción de variables cuantitativas y cualitativas. En conclusión, la utilización de una doble perspectiva a la hora de medir el capital humano y estudiar su interrelación con el desarrollo de innovación constituye una novedad tanto teórica como metodológica.
Purpose: This research attempts to determine, empirically and for a large sample of countries, which kind of educational variables can better explain technological innovation processes, approximated by the number of patents per capita. To do this, we use a model that explains the innovative capacity of the countries employing six educational variables: two quantitative variables –average (total and university) years of schooling- and four qualitative variables -based on outcomes of different international tests of knowledge-.
Design/methodology: The analysis is carried out for a sample that includes more than 60 countries, using cross-section techniques for the decade 2000-2010.
Findings: From the econometric results we conclude that technological innovation, proxied by the number of patents per capita, is explained better by the quality of education than by the quantity of education. Innovative activity is strongly linked to success in terms of educational skills, the type of skills acquired and educational excellency. Furthermore, the interaction between educational quality and quantity is a key factor. When we introduce the cross effects of both variables, the proposed model yields to a greater explanatory power.
Originality/value: The traditional perspective on human capital literature uses indicators based on the quantity of education, usually average years of schooling. This study incorporates indicators based on skills, measured by the results of international tests of knowledge. The introduction of the dual perspective, quantitative and qualitative, to measure human capital and to determine what kind of indicators explains better innovation, is an outstanding novelty.The GDOR model. A new methodology for the analysis of training needs: the case of Andorra
http://hdl.handle.net/2099/12705
The GDOR model. A new methodology for the analysis of training needs: the case of Andorra
Eguiguren Huerta, Marc; Llinàs Audet, Francisco Javier; Parellada Sabata, Martí
Purpose: This article investigates the status and importance of continuing training in companies in the Principality of Andorra and its impact on the economic development of the country.
Design/methodology/approach: The analysis is based on GDOR, a methodology based on the impact of training decisions on economic indicators and ratios that has been developed by the authors. By using GDOR, the authors explore and understand the current situation and the training needs of the main sectors in the Andorran economy.
Findings: The findings incorporate a different view of lifelong learning training needs in Andorra much more related to the development needs of the country.
Originality/value: With reference to best practice from different countries, particularly those in Europe, an original and new proposal to address those training needs is presented including recommendations to the country’s authorities on how to manage lifelong learning policies.
2012-11-06T09:22:58ZEguiguren Huerta, MarcLlinàs Audet, Francisco JavierParellada Sabata, MartíPurpose: This article investigates the status and importance of continuing training in companies in the Principality of Andorra and its impact on the economic development of the country.
Design/methodology/approach: The analysis is based on GDOR, a methodology based on the impact of training decisions on economic indicators and ratios that has been developed by the authors. By using GDOR, the authors explore and understand the current situation and the training needs of the main sectors in the Andorran economy.
Findings: The findings incorporate a different view of lifelong learning training needs in Andorra much more related to the development needs of the country.
Originality/value: With reference to best practice from different countries, particularly those in Europe, an original and new proposal to address those training needs is presented including recommendations to the country’s authorities on how to manage lifelong learning policies.La implicación emocional en el puesto de trabajo: un estudio empírico
http://hdl.handle.net/2099/12704
La implicación emocional en el puesto de trabajo: un estudio empírico
Lucia-Casademunt, Ana María; Morales-Gutiérrez, Alfonso Carlos; Ariza-Montes, Jose Antonio
Objeto: En multitud de estudios se constata como la generación de actitudes positivas en los empleados –tales como satisfacción, implicación laboral-, incide favorablemente en los niveles de productividad. La presente investigación centra la atención en la identificación del perfil de los empleados implicados emocionalmente con su actividad laboral a partir de un conjunto de factores individuales, laborales, organizativos y actitudinales.
Diseño/metodología/enfoque: Se ha realizado una revisión bibliográfica de los principales factores que influyen en la implicación laboral sobre todo en su dimensión emocional. Para su medición a nivel empírico, se han empleado varios de los ítems incluidos en la IV Encuesta Europea de Condiciones de Trabajo relacionados con el bienestar psicológico de los trabajadores e identificados a partir del cuestionario sobre implicación laboral planteado originalmente por Lodahl y Kejner (1965). Posteriormente se desarrolla un estudio empírico multidimensional aplicando un modelo de regresión logística a una muestra de 11.149 trabajadores obtenida de la encuesta europea citada.
Aportaciones y resultados: El modelo de regresión logística identifica los factores relacionados directamente con la implicación emocional en el puesto de trabajo. En última instancia se plantea un modelo definitivo donde se define el perfil del asalariado europeo implicado emocionalmente con su puesto: una persona de cierta edad que lleva trabajando varios años en su actual puesto en una empresa de dimensión reducida, donde posiblemente existan buenas relaciones entre compañeros y superiores -apoyo social-. Estos empleados ocupan puestos de cuello blanco, disponen de oportunidades de promoción dentro de la jerarquía de la empresa. Las tareas que desempeñan son variadas, flexibles y complejas, lo que provoca un sentimiento general de satisfacción con las condiciones laborales y con el salario percibido.
Limitaciones: Posibles problemas de sesgo debido a la medición de la implicación emocional a través de la autopercepción. Asimismo, la relación causal entre implicación y las variables explicativas debe ser relativizada, al tratarse de un estudio transversal y no experimental.
Implicaciones prácticas: A partir de los resultados obtenidos se podría actuar sobre el grado de implicación emocional de los trabajadores incidiendo en aquellas variables relacionadas con el fenómeno objeto de investigación. Focalizando en el impacto del diseño de los puestos de trabajo sobre las reacciones afectivas de sus empleados.
Originalidad / Valor añadido: Se ha estimado un modelo global de implicación en el que se constata la incidencia de factores a diversos niveles (individual, organizativo,…) tanto para las personas implicadas emocionalmente como no implicadas.; Purpose: In a multitude of studies, it is verified that the generation of positive attitudes for employees such as job satisfaction or job involvement, have a positive influence on productivity levels of companies. The current investigation focus on the identification of employee-profile -who is emotionally involved with their work activity- through the use of a set of individual, job related and attitudinal factors.
Design/methodology: A review of the literature about the main factors that affect the job involvement particularly on its emotional dimension has been completed. For its measurement at the empirical level, various items related to psychological well being of employees included in the IV European Working Conditions Survey-2010 are used. Moreover, those items are identified in Job Involvement Questionnaire (Lodahl & Kejner, 1965). Since then, an empirical and multidimensional study is carried out by applying a logistic regression model on the sample of 11,149 employees obtained with European survey cited previously.
Findings: The logistic regression model identifies the factors, which are directly related to emotional involvement at the workplace. Ultimately, is raised a definitive model that define the European employee-profile -who is emotionally involved at the workplace-: a rather aged person who has been working at his/her present place of employment for several years in a medium-sized company where possibly there exist a good working relationship between workers and their superiors –social support-. These employees are “white-collar” workers, have career advancement opportunities in the organizational hierarchy. They perform variety, flexible and complex tasks, which leads to satisfaction in terms of pay and working conditions.
Research limitations/implications: Emotional involvement has been measured through self-awareness and, therefore, the corresponding bias in the key variable must be assumed. In addition, the casual relationship between emotional involvement and the variables taken into account in our study must be relativized, as the data under study are cross-sectional and not experimental.
Originality/value: A global emotional involvement model has been estimated with which was confirmed the impact of the individual, job related or situational factors for both employees emotionally involved and those not involved.
2012-11-05T17:17:20ZLucia-Casademunt, Ana MaríaMorales-Gutiérrez, Alfonso CarlosAriza-Montes, Jose AntonioObjeto: En multitud de estudios se constata como la generación de actitudes positivas en los empleados –tales como satisfacción, implicación laboral-, incide favorablemente en los niveles de productividad. La presente investigación centra la atención en la identificación del perfil de los empleados implicados emocionalmente con su actividad laboral a partir de un conjunto de factores individuales, laborales, organizativos y actitudinales.
Diseño/metodología/enfoque: Se ha realizado una revisión bibliográfica de los principales factores que influyen en la implicación laboral sobre todo en su dimensión emocional. Para su medición a nivel empírico, se han empleado varios de los ítems incluidos en la IV Encuesta Europea de Condiciones de Trabajo relacionados con el bienestar psicológico de los trabajadores e identificados a partir del cuestionario sobre implicación laboral planteado originalmente por Lodahl y Kejner (1965). Posteriormente se desarrolla un estudio empírico multidimensional aplicando un modelo de regresión logística a una muestra de 11.149 trabajadores obtenida de la encuesta europea citada.
Aportaciones y resultados: El modelo de regresión logística identifica los factores relacionados directamente con la implicación emocional en el puesto de trabajo. En última instancia se plantea un modelo definitivo donde se define el perfil del asalariado europeo implicado emocionalmente con su puesto: una persona de cierta edad que lleva trabajando varios años en su actual puesto en una empresa de dimensión reducida, donde posiblemente existan buenas relaciones entre compañeros y superiores -apoyo social-. Estos empleados ocupan puestos de cuello blanco, disponen de oportunidades de promoción dentro de la jerarquía de la empresa. Las tareas que desempeñan son variadas, flexibles y complejas, lo que provoca un sentimiento general de satisfacción con las condiciones laborales y con el salario percibido.
Limitaciones: Posibles problemas de sesgo debido a la medición de la implicación emocional a través de la autopercepción. Asimismo, la relación causal entre implicación y las variables explicativas debe ser relativizada, al tratarse de un estudio transversal y no experimental.
Implicaciones prácticas: A partir de los resultados obtenidos se podría actuar sobre el grado de implicación emocional de los trabajadores incidiendo en aquellas variables relacionadas con el fenómeno objeto de investigación. Focalizando en el impacto del diseño de los puestos de trabajo sobre las reacciones afectivas de sus empleados.
Originalidad / Valor añadido: Se ha estimado un modelo global de implicación en el que se constata la incidencia de factores a diversos niveles (individual, organizativo,…) tanto para las personas implicadas emocionalmente como no implicadas.
Purpose: In a multitude of studies, it is verified that the generation of positive attitudes for employees such as job satisfaction or job involvement, have a positive influence on productivity levels of companies. The current investigation focus on the identification of employee-profile -who is emotionally involved with their work activity- through the use of a set of individual, job related and attitudinal factors.
Design/methodology: A review of the literature about the main factors that affect the job involvement particularly on its emotional dimension has been completed. For its measurement at the empirical level, various items related to psychological well being of employees included in the IV European Working Conditions Survey-2010 are used. Moreover, those items are identified in Job Involvement Questionnaire (Lodahl & Kejner, 1965). Since then, an empirical and multidimensional study is carried out by applying a logistic regression model on the sample of 11,149 employees obtained with European survey cited previously.
Findings: The logistic regression model identifies the factors, which are directly related to emotional involvement at the workplace. Ultimately, is raised a definitive model that define the European employee-profile -who is emotionally involved at the workplace-: a rather aged person who has been working at his/her present place of employment for several years in a medium-sized company where possibly there exist a good working relationship between workers and their superiors –social support-. These employees are “white-collar” workers, have career advancement opportunities in the organizational hierarchy. They perform variety, flexible and complex tasks, which leads to satisfaction in terms of pay and working conditions.
Research limitations/implications: Emotional involvement has been measured through self-awareness and, therefore, the corresponding bias in the key variable must be assumed. In addition, the casual relationship between emotional involvement and the variables taken into account in our study must be relativized, as the data under study are cross-sectional and not experimental.
Originality/value: A global emotional involvement model has been estimated with which was confirmed the impact of the individual, job related or situational factors for both employees emotionally involved and those not involved.Los reits españoles como vehículo de inversión y financiación de la actividad inmobiliaria: las SOCIMI
http://hdl.handle.net/2099/12703
Los reits españoles como vehículo de inversión y financiación de la actividad inmobiliaria: las SOCIMI
Fernández Gimeno, Jorge; Llovera Sáez, Francisco Javier; Roig Hernando, Jaume
Objeto: Análisis desde una perspectiva financiera de las SOCIMI, instrumentos de inversión inmobiliaria regulados en España, equivalentes a los Real Estate Investment Trusts (REITs).
Diseño/metodología/enfoque: Se ha aplicado la metodología inductiva-deductiva y la metodología experimental.
Aportaciones y resultados: Desde el punto de vista del inversor, las SOCIMI son un vehículo de inversión inmobiliaria competitivo en términos de rentabilidad y riesgo los cuales se verán afectados, no sólo por la evolución de los mercados financieros, si no por sus activos subyacentes que estarán sujetos al ciclo del mercado inmobiliario. Por otro lado, las SOCIMI son un instrumento útil para la captación de financiación en compañías inmobiliarias pero se prevé que su cotización presente descuentos significativos sobre el valor neto de sus activos subyacentes (Net Asset Value). Tanto para inversores como gestores de compañías inmobiliarias, la aplicación de las finanzas conductuales permitirá mejorar las tomas de decisiones de inversión y financiación en el sector inmobiliario al aportar modelos de análisis que permiten comprender las ineficiencias a las que están sujetas los mercados.
Originalidad / Valor añadido: Aumento de la investigación sobre el vehículo SOCIMI, escasamente estudiado hasta la fecha lo que puede ayudar a la tomar de decisiones tanto para inversores como para compañías interesadas a financiarse a través de dicho vehículo.; Purpose: Analysis from a financial perspective of the SOCIMI, real estate investment vehicles regulated in Spain since 2009, which are equivalent to Real Estate Investment Trusts (REITs).
Design/methodology: It has been used the inductive-deductive and experimental methodology.
Findings: From the investors point of view, SOCIMI are real estate investment vehicles competitive in terms of profitability and risk being affected not only by the evolution of financial markets, but also by its underlying assets which are subject to the real estate market cycle. On the other hand, SOCIMI are helpful for funding capture in real estate companies but it is foreseen that its quotation will incorporate significant discounts over the Net Asset Value (NAV) of its underlying assets. For investors as well as for real estate company managers, the application of behavioral finance will enable a better investment and financing decision making in the real estate market with the contribution of analysis models which make possible the understanding of market inefficiencies.
Originality/value: Further investigation over SOCIMI, the real estate investment vehicle, barely studied up to now, can help to improve decision making of investors as well as real estate companies interested in fund raising through this vehicle.
2012-11-05T16:52:26ZFernández Gimeno, JorgeLlovera Sáez, Francisco JavierRoig Hernando, JaumeObjeto: Análisis desde una perspectiva financiera de las SOCIMI, instrumentos de inversión inmobiliaria regulados en España, equivalentes a los Real Estate Investment Trusts (REITs).
Diseño/metodología/enfoque: Se ha aplicado la metodología inductiva-deductiva y la metodología experimental.
Aportaciones y resultados: Desde el punto de vista del inversor, las SOCIMI son un vehículo de inversión inmobiliaria competitivo en términos de rentabilidad y riesgo los cuales se verán afectados, no sólo por la evolución de los mercados financieros, si no por sus activos subyacentes que estarán sujetos al ciclo del mercado inmobiliario. Por otro lado, las SOCIMI son un instrumento útil para la captación de financiación en compañías inmobiliarias pero se prevé que su cotización presente descuentos significativos sobre el valor neto de sus activos subyacentes (Net Asset Value). Tanto para inversores como gestores de compañías inmobiliarias, la aplicación de las finanzas conductuales permitirá mejorar las tomas de decisiones de inversión y financiación en el sector inmobiliario al aportar modelos de análisis que permiten comprender las ineficiencias a las que están sujetas los mercados.
Originalidad / Valor añadido: Aumento de la investigación sobre el vehículo SOCIMI, escasamente estudiado hasta la fecha lo que puede ayudar a la tomar de decisiones tanto para inversores como para compañías interesadas a financiarse a través de dicho vehículo.
Purpose: Analysis from a financial perspective of the SOCIMI, real estate investment vehicles regulated in Spain since 2009, which are equivalent to Real Estate Investment Trusts (REITs).
Design/methodology: It has been used the inductive-deductive and experimental methodology.
Findings: From the investors point of view, SOCIMI are real estate investment vehicles competitive in terms of profitability and risk being affected not only by the evolution of financial markets, but also by its underlying assets which are subject to the real estate market cycle. On the other hand, SOCIMI are helpful for funding capture in real estate companies but it is foreseen that its quotation will incorporate significant discounts over the Net Asset Value (NAV) of its underlying assets. For investors as well as for real estate company managers, the application of behavioral finance will enable a better investment and financing decision making in the real estate market with the contribution of analysis models which make possible the understanding of market inefficiencies.
Originality/value: Further investigation over SOCIMI, the real estate investment vehicle, barely studied up to now, can help to improve decision making of investors as well as real estate companies interested in fund raising through this vehicle.Internal marketing for engaging employees on the corporate responsibility journey
http://hdl.handle.net/2099/12702
Internal marketing for engaging employees on the corporate responsibility journey
Sanchez-Hernandez, Isabel; Grayson, David
Purpose: The purpose of this paper is to explore whether internal marketing could be a powerful tool for engaging employees on the corporate responsibility journey.
Design/methodology/approach: In the absence of empirical work linking internal marketing efforts in organizations and employee engagement in corporate responsibility issues, a conceptual approach based on literature review is carried out to determine the existing possibilities provided by internal marketing to enhance corporate responsibility.
Findings: Reflexion from the extant literature indicates that, because employee engagement matters, internal responsibility should be put first. The internal marketing umbrella, including ‘selling internally’ the idea of responsibility, facilitating internal communication, enhancing corporate volunteering or the possibility to become a social intrapreneur, could help to align employees´ needs with corporate responsibility goals.
Practical implications: The results suggest that managers must ensure that internal aspects of management, such as internal communication and employee commitment are taken into account in order to get success in corporate responsibility issues. Managers need to be more proactive trying to introduce the marketing function in human capital issues. Understanding employees´ wants and needs and selling internally responsibility goals would make external efforts in developing a responsible strategy much more likely to succeed.
Originality/value: Reflecting the literature which highlights the importance of internal marketing, we pay particular attention to their role on promoting corporate responsibility internally. The results indicate that while organizations strive to achieve corporate responsibility goals, it is expected that effectiveness will be greater among organizations using internal marketing tools for this purpose. To the best of our knowledge is the first time this relationship has been academically discussed offering recommendations for practitioners.
2012-11-05T16:35:05ZSanchez-Hernandez, IsabelGrayson, DavidPurpose: The purpose of this paper is to explore whether internal marketing could be a powerful tool for engaging employees on the corporate responsibility journey.
Design/methodology/approach: In the absence of empirical work linking internal marketing efforts in organizations and employee engagement in corporate responsibility issues, a conceptual approach based on literature review is carried out to determine the existing possibilities provided by internal marketing to enhance corporate responsibility.
Findings: Reflexion from the extant literature indicates that, because employee engagement matters, internal responsibility should be put first. The internal marketing umbrella, including ‘selling internally’ the idea of responsibility, facilitating internal communication, enhancing corporate volunteering or the possibility to become a social intrapreneur, could help to align employees´ needs with corporate responsibility goals.
Practical implications: The results suggest that managers must ensure that internal aspects of management, such as internal communication and employee commitment are taken into account in order to get success in corporate responsibility issues. Managers need to be more proactive trying to introduce the marketing function in human capital issues. Understanding employees´ wants and needs and selling internally responsibility goals would make external efforts in developing a responsible strategy much more likely to succeed.
Originality/value: Reflecting the literature which highlights the importance of internal marketing, we pay particular attention to their role on promoting corporate responsibility internally. The results indicate that while organizations strive to achieve corporate responsibility goals, it is expected that effectiveness will be greater among organizations using internal marketing tools for this purpose. To the best of our knowledge is the first time this relationship has been academically discussed offering recommendations for practitioners.Intellectual capital and system of innovation: what really matters at innovative SMEs
http://hdl.handle.net/2099/12701
Intellectual capital and system of innovation: what really matters at innovative SMEs
González-Loureiro, Miguel; Figueroa Dorrego, Pedro
Purpose: The aim is to try to build a model for measuring and assessing the simultaneous effect of the three components of the intellectual capital (IC) management on the growth of innovative SMEs. In this first stage of research, the model was tested in a representative sample of innovative SMEs from Galicia, where the performance construct was the cumulative growth measured in a three years period.
Design/methodology/approach: This empirical work has been designed with the aim of (1) selecting the best variables from each IC component (human capital-HC, structural capital-SC, relational capital-RC) at innovative SMEs for explaining cumulative growth; and (2) assessing how much the IC management at innovative SMEs could contribute to their growth. A structural equation model is developed and tested. It allows the identification of the key variables that innovative SMEs are encouraged to manage (17 variables in the current stage) for boosting their growth.
Findings: In the Galician case, HC is the basic, starting point for the SMEs’ growth. HC seems not to be able to directly influence on growth if not through SC and, in a very low degree, through RC. Thus, the key seems to be the SMEs’ capability for transforming valuable knowledge from the HC into organisational value (i.e., SC).
Research limitations/implications: The limited sample of 140 SMEs and the regional scope (Galician region) may limit the possibility for directly spreading findings. However, the double test developed (cumulative growth measured in two year and in three year period) and the improved overall goodness fit indexes, both allow pointing out to a future research where final variables can be set.
Practical implications: Results could allow SMEs practitioners a better understanding about variables of IC on which they ought to focus their management efforts. In the case of public decision-makers, outcomes could inform about the key aspects that they should improve for playing a more decisive role in the innovative efforts of SMEs.
Originality/value: The originality of this research could be twofold: the medium-term perspective for assessing impacts, and the inclusion of the agents from the system of innovation in the RC component. The latter has allowed assessing the contribution of the institutional system for supporting innovation in the case of SMEs. The former has allowed identifying cause-effect interactions among IC components to explain growth.
2012-11-05T15:38:27ZGonzález-Loureiro, MiguelFigueroa Dorrego, PedroPurpose: The aim is to try to build a model for measuring and assessing the simultaneous effect of the three components of the intellectual capital (IC) management on the growth of innovative SMEs. In this first stage of research, the model was tested in a representative sample of innovative SMEs from Galicia, where the performance construct was the cumulative growth measured in a three years period.
Design/methodology/approach: This empirical work has been designed with the aim of (1) selecting the best variables from each IC component (human capital-HC, structural capital-SC, relational capital-RC) at innovative SMEs for explaining cumulative growth; and (2) assessing how much the IC management at innovative SMEs could contribute to their growth. A structural equation model is developed and tested. It allows the identification of the key variables that innovative SMEs are encouraged to manage (17 variables in the current stage) for boosting their growth.
Findings: In the Galician case, HC is the basic, starting point for the SMEs’ growth. HC seems not to be able to directly influence on growth if not through SC and, in a very low degree, through RC. Thus, the key seems to be the SMEs’ capability for transforming valuable knowledge from the HC into organisational value (i.e., SC).
Research limitations/implications: The limited sample of 140 SMEs and the regional scope (Galician region) may limit the possibility for directly spreading findings. However, the double test developed (cumulative growth measured in two year and in three year period) and the improved overall goodness fit indexes, both allow pointing out to a future research where final variables can be set.
Practical implications: Results could allow SMEs practitioners a better understanding about variables of IC on which they ought to focus their management efforts. In the case of public decision-makers, outcomes could inform about the key aspects that they should improve for playing a more decisive role in the innovative efforts of SMEs.
Originality/value: The originality of this research could be twofold: the medium-term perspective for assessing impacts, and the inclusion of the agents from the system of innovation in the RC component. The latter has allowed assessing the contribution of the institutional system for supporting innovation in the case of SMEs. The former has allowed identifying cause-effect interactions among IC components to explain growth.The impact of R&D intensity on corporate reputation: Interaction effect of innovation with high social benefit
http://hdl.handle.net/2099/12700
The impact of R&D intensity on corporate reputation: Interaction effect of innovation with high social benefit
Padgett, Robert Carlton; Moura-Leite, Rosamaria Cox
Purpose: This article analyzes the effect that Research and Development (R&D) intensity has on corporate reputation, and how this effect can be positively moderated when innovation yields some kind of social benefits.
Design/methodology/approach: As a theoretical framework we use the resource based view theory and the institutional theory. For the empirical analysis we used the panel data technique to estimate our models, the sample is composed of 257 US firms and covers a four-year period from 2004 to 2007.
Findings: The results of this research demonstrates that R&D with the moderation of innovation with high social benefits will produce a greater positive effect on corporate reputation than R&D by itself, since R&D activities can produce innovations that do not produce any social benefit which may not be perceived by stakeholders.
Practical implications: Innovative firms should focus their efforts on identifying opportunities in their R&D processes to initiate related corporate social responsibility activities that could help them build a good reputation, which in the long run can give them a competitive advantage and profitable results.
Originality/value: Recently several studies have seen that R&D is related with corporate social responsibility and that it is important to include both variables when studying financial performance. Our research is novel in the sense that we are applying the same logic but studying the relationship with corporate reputation, which has been scarcely talked about in existing literature.
2012-11-05T15:10:01ZPadgett, Robert CarltonMoura-Leite, Rosamaria CoxPurpose: This article analyzes the effect that Research and Development (R&D) intensity has on corporate reputation, and how this effect can be positively moderated when innovation yields some kind of social benefits.
Design/methodology/approach: As a theoretical framework we use the resource based view theory and the institutional theory. For the empirical analysis we used the panel data technique to estimate our models, the sample is composed of 257 US firms and covers a four-year period from 2004 to 2007.
Findings: The results of this research demonstrates that R&D with the moderation of innovation with high social benefits will produce a greater positive effect on corporate reputation than R&D by itself, since R&D activities can produce innovations that do not produce any social benefit which may not be perceived by stakeholders.
Practical implications: Innovative firms should focus their efforts on identifying opportunities in their R&D processes to initiate related corporate social responsibility activities that could help them build a good reputation, which in the long run can give them a competitive advantage and profitable results.
Originality/value: Recently several studies have seen that R&D is related with corporate social responsibility and that it is important to include both variables when studying financial performance. Our research is novel in the sense that we are applying the same logic but studying the relationship with corporate reputation, which has been scarcely talked about in existing literature.Propuesta de competencias para un grado en asistencia de dirección en el contexto de los nuevos planes de estudio dentro del espacio europeo de educación superior (EEES)
http://hdl.handle.net/2099/12699
Propuesta de competencias para un grado en asistencia de dirección en el contexto de los nuevos planes de estudio dentro del espacio europeo de educación superior (EEES)
Zárraga, Marta de; Araluce, Mª del Mar; Erviti, Mari Carmen
Objeto: El objetivo del estudio es definir el perfil del Asistente de Dirección en las organizaciones y a partir de dicho perfil establecer las competencias de un grado en Asistencia de Dirección en el marco del nuevo Espacio Europeo de Educación Superior.
Diseño/metodología/enfoque: La primera fase consistió en la recogida de información a partir de fuentes diversas (informes de asociaciones, consultas a empresas, planes de estudios de universidades internacionales, libros blancos,…). Para el análisis de dicha información se utilizó metodología cualitativa, en concreto la toma de decisiones basada en el juicio de expertos que se obtiene mediante técnicas grupales.
Aportaciones y resultados: El estudio presenta evidencias relevantes sobre el perfil del Asistente de Dirección y define las competencias transversales y específicas de un grado en Asistencia de Dirección.
Limitaciones: El estudio está sesgado hacia el punto de vista de miembros del mundo académico.
Implicaciones prácticas: Los datos que aporta el estudio pueden ser de utilidad para universidades españolas interesadas en este perfil y pueden servir como base para otros estudios que profundicen en perfiles profesionales del personal de apoyo en las organizaciones.
Originalidad / Valor añadido: El estudio contribuye a definir la figura y las competencias del Asistente de Dirección en las organizaciones.
2012-11-05T14:55:57ZZárraga, Marta deAraluce, Mª del MarErviti, Mari CarmenObjeto: El objetivo del estudio es definir el perfil del Asistente de Dirección en las organizaciones y a partir de dicho perfil establecer las competencias de un grado en Asistencia de Dirección en el marco del nuevo Espacio Europeo de Educación Superior.
Diseño/metodología/enfoque: La primera fase consistió en la recogida de información a partir de fuentes diversas (informes de asociaciones, consultas a empresas, planes de estudios de universidades internacionales, libros blancos,…). Para el análisis de dicha información se utilizó metodología cualitativa, en concreto la toma de decisiones basada en el juicio de expertos que se obtiene mediante técnicas grupales.
Aportaciones y resultados: El estudio presenta evidencias relevantes sobre el perfil del Asistente de Dirección y define las competencias transversales y específicas de un grado en Asistencia de Dirección.
Limitaciones: El estudio está sesgado hacia el punto de vista de miembros del mundo académico.
Implicaciones prácticas: Los datos que aporta el estudio pueden ser de utilidad para universidades españolas interesadas en este perfil y pueden servir como base para otros estudios que profundicen en perfiles profesionales del personal de apoyo en las organizaciones.
Originalidad / Valor añadido: El estudio contribuye a definir la figura y las competencias del Asistente de Dirección en las organizaciones.