Journal articles: 'Spanish Investments'

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Nikulin, Kirill. "SPANISH CAPITAL IN LATIN AMERICA IN CRISIS CONDITIONS. INVESTMENT SPECT." Urgent Problems of Europe, no. 3 (2022): 184–202. http://dx.doi.org/10.31249/ape/2022.03.08.

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The article analyzes the current state of Spanish-Latin American investment ties and assesses the prospects for their development. The research task of the article is to analyse the functioning of Spanish capital in the key Latin American region under the crisis conditions of the last five years. A distinctive feature of Spain among other EU members in the Latin American region is the institutional aspect, which has become one of the drivers of sustainable Spanish-Latin American investment cooperation, in which Iberoamerican multinational enterprises (MNEs) play a key role. To create an up-to-date panorama of investment interaction, the dynamics of Spanish foreign direct investment (FDI) flows the author does assesse their key corporate participants Spanish investments are characterized in comparison with global FDI flows to the region. The financial performance of the leading MNEs participating in the investment process is analysed this factor serves as an indicator to reflect current trends in Spanish-Latin American investment cooperation. The impact of the global financial crisis, the COVID-19 pandemic, the current tense geopolitical and geoeconomic situation is taken into account, the evolution of the dynamics of Spanish FDI in Latin America’ and the Caribbean region (LAC) over the past five years is given, the reasons for the main changes and the prospects for their development are indicated. Examples of the processes of internationalization of individual Spanish companies are given. The conclusion is made about the continued dominance of investment as opposed to trade in the vector of Spanish interaction with the LAC countries, with a general decline in Spanish FDI flows, their reorganization, reorientation to Western countries and the existence of new global challenges to the sustainable growth of investment, the prospects for attracting FDI to the region are assessed. In this regard, challenges and associated opportunities are identified.

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Bertoni, Fabio, María Alejandra Ferrer, and José Martí Pellón. "Financial market imperfections, control aversion and venture capital in Spanish SMEs." Corporate Ownership and Control 7, no. 4 (2010): 252–65. http://dx.doi.org/10.22495/cocv7i4c2p2.

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Information asymmetries and control aversion limit the capacity of Small and Medium Enterprises (SMEs) to take advantage of growth opportunities. In this work we analyse to what extent Venture Capital (VC) can play a positive role by allowing a temporary shareholder to reduce the investment dependency on internally generated funds. We study a sample of 322 Spanish VC-backed SMEs at the expansion stage, and a one-by-one matched sample of non-VC-backed firms. We find that both groups of firms exhibit a significant sensitivity of investments to cash flows before the initial VC investment. VC, however, is effective in reducing investment cash flow sensitivity in the post-investment period in the group of VC-backed companies.

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TORAL, PABLO. "The Foreign Direct Investments of Spanish Multinational Enterprises in Latin America, 1989–2005." Journal of Latin American Studies 40, no. 3 (July 17, 2008): 513–44. http://dx.doi.org/10.1017/s0022216x08004410.

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AbstractThe inflow of Spanish investment in Latin America after 1989 was the result of a strategy by the managers of seven leading firms to gain access to new markets and to become world leaders in their industry, by applying the know-how that they had developed in Spain during the period of rapid economic modernisation in the 1980s. This article examines the context for these investments in Spain and in Latin America and provides a constructivist theoretical framework to explain them. It analyses seven firms in four industries (BBVA and SCH in banking, Repsol-YPF in oil and natural gas, Endesa, Iberdrola and Unión Fenosa in public utilities, and Telefónica in telecommunications). The knowledge and techniques that developed in Spain in the 1980s, it is argued, gave them significant advantages in Latin American markets during the period of liberalisation and privatisation in the 1990s. The Spanish government played a significant role in this process, by promoting the growth of large firms in the service industries through mergers and acquisition, protecting their domestic market, and encouraging their investments overseas.

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López-Bazo, Enrique, and Rosina Moreno. "Profitability of Investments in Education: Evidence from Spanish Regions." Regional Studies 46, no. 10 (November 2012): 1333–46. http://dx.doi.org/10.1080/00343404.2010.543893.

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Diéguez-Soto, Julio, and María J. Martínez-Romero. "Family Involvement in Management and Product Innovation: The Mediating Role of R&D Strategies." Sustainability 11, no. 7 (April 11, 2019): 2162. http://dx.doi.org/10.3390/su11072162.

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Following calls to capture family firms’ innovative behavior and to specifically clarify how family firms manage product innovations to achieve sustainable economic development, this study empirically investigates the mediating role of Research & Development (R&D) strategies (i.e., intramural R&D investments, extramural R&D investments, and the combination of both intramural and extramural R&D investments) in the relationship between family involvement in the management and likelihood of obtaining product innovations. Carrying out a panel data analysis that is based on 7264 observations of Spanish manufacturing firms throughout the 2000–2015 period, our results suggest a negative effect of the level of family management on the likelihood of introducing product innovations. Moreover, we found that intramural R&D investments and the investment strategy consisting of both intramural and extramural R&D mediated the family involvement in management-likelihood of obtaining product innovations relationship. Our findings contribute important insights to the comprehension of which determinants instigate product innovation in family managed firms.

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Juárez, María Isabel, and Jordi Bacaria. "Spanish Investments in Morocco and the Process of Regional Integration." European Journal of Development Research 15, no. 2 (December 2003): 1–15. http://dx.doi.org/10.1080/09578810312331287455.

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Krämer, Ludwig. "Spain and Coal, the Environment and eu Law." Journal for European Environmental & Planning Law 14, no. 1 (April 21, 2017): 98–112. http://dx.doi.org/10.1163/18760104-01401006.

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Mining of indigenous Spanish coal has been heavily subsidized ever since 1986, and recently, the European Commission authorized a further amount of State aid of 2.3 billion in order to facilitate the closure of uncompetitive coal mines in Spain by 2018. These subsidies are paid regardless of the facts that: the indigenous coal is of minor quality and not needed to ensure safe energy supply in Spain; the combustion of coal is causing excessive greenhouse gas emissions and most coal-fired Spanish power plants are widely exceeding regular eu emission limit values; considerable investments will have to be made, in order to eventually comply with the requirements of eu law. However, supposed that these investments are made, there is no reason for the plant owners to participate in a coal phase-out. The present article provides a detailed analysis of these critical aspects of Spanish and European coal policy.

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Cosculluela-Martínez, Carolina. "Sustainable Knowledge Investment Increases Employment and GDP in the Spanish Agricultural Sector More Than Other Investments." Sustainability 12, no. 8 (April 13, 2020): 3127. http://dx.doi.org/10.3390/su12083127.

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Investment in every type of asset increases GDP and net employment differently. This paper compares the effect produced by a permanent unitary shock in Sustainable Knowledge for the Primary Sector (SKPS) on the Spanish employment and GDP growth with the effect produced by the other fourteen capital stock types. The methodology used is a Vector Error Correction Model (VECM), where the complementary capital can affect SKPS instantaneously. The results suggest that SKPS produces the second-highest, short and long-term effects on both labor and production, per Euro invested; moreover, the investment of 4.3 thousand euros is retrieved in the first year and increases net employment in one person after four years. Accordingly, the 5 million Euro Budget to invest in sustainable machinery and processing techniques increases net employment by 827 employees.

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Keefer, Philip. "Protection Against a Capricious State: French Investment and Spanish Railroads, 1845–1875." Journal of Economic History 56, no. 1 (March 1996): 170–92. http://dx.doi.org/10.1017/s0022050700016065.

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Infrastructure construction is often associated with excessive, even corrupt, profits. This article argues that construction profits earned in Spanish railroads in the mid-nineteenth century were a response to the lack of credibility of the Spanish state. It also makes the first attempt to document excess construction profits in Spanish railroads by demonstrating, for example, financial links between railroad stockholders and the providers of construction goods and services and by directly estimating construction profits. The estimated excess construction profits only provided railroad entrepreneurs with a normal rate of return to their entire railroad-related investments.

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Camisón-Haba, Sergio, Tomás Gonzáles-Cruz, and José Antonio Clemente-Almendros. "Information Disclosure and Sustainable Competitive Advantage: Evidence from the Spanish Tourism Industry." Sustainability 14, no. 12 (June 7, 2022): 6977. http://dx.doi.org/10.3390/su14126977.

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Of all the resources and capabilities that have a well-established impact on decision-making, information stands out. With the advent of the digital economy, organizations have been making significant information and communication technology (ICT) investments, but the empirical evidence of the impact of these investments on business outcomes has been inconsistent. This article studies the conditions that disclosed information resources and ICT must fulfil in order to become a source of sustainable competitive advantage in tourism organizations. The results point to the need to identify distinct financial and non-financial information dimensions, distinguished according to their direct potential for creating and maintaining competitive advantages through the improvement in relations with various stakeholders.

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Blazquez Cuesta, Maite, and Jose Ramos Rodrigo. "Recent Investments in Human Capital and its Effect on the Chances of Escaping from Low-paid Jobs: The Spanish Case." Studies of Applied Economics 26, no. 2 (June 13, 2021): 161–80. http://dx.doi.org/10.25115/eea.v26i2.5547.

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General education and training are major forces determining earnings. According to the human capital model, wage differentials among individuals over the life-cycle are largely the result of different patterns of investment in human capital. This paper is intended to analyze the effects of recent investments in human capital — general education, vocational/training or language courses on workers’ relative earnings and on the probability of making an upwards transition in the earnings distribution. The analysis is done for Spain, using the European Community Household Panel (1995-2001). Our results reveal that having been recently in education or training (mainly vocational/training courses) significantly increases the probability of escaping from low pay to better paid jobs, while decreases the risk of falling into low-wage employment. Furthermore, this positive effect is significantly higher among those workers with a third level of general education completed. A separate analysis for females also reveals these positive returns of recent investments in human capital relative earnings, although in this case they appear to be none statistically significant.

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García-Sánchez, Isabel-María. "Debt vs. self-financing innovation projects: An exploratory study of Spanish agri-food SMEs." Spanish Journal of Agricultural Research 19, no. 2 (May 4, 2021): e0104. http://dx.doi.org/10.5424/sjar/2021192-17194.

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Aim of study: This paper determines the preferences for debt or equity ‒ common stock and self-financing ‒ that are shown by agri-food companies to finance innovation investment strategies and identify the monitoring role that third-party funding providers can play.Area of study: A sample of 41,109 Spanish SMEs (364,020 observations).Material and methods: The information was obtained from the SABI database, using the Generalised Method of Moments (GMM) estimator and a logistic regression like contrast methodologies.Main results: Spanish agri-food companies undertake innovation projects by financing these investments through owners’ resources, mainly from current common stock, as they are independent of these companies’ capacity to generate internal funds. This may be conditioned by the problems of severe negative self-financing presented by this sector in Spain which make it difficult to use retained earnings as a source of financing for new investments; 30% of these firms have a negative self-financing level of EUR 100,000 as the losses accumulated by economic activity are higher than the reserves provided.Research highlights: Agri-food companies prefer to use owners’ funds to finance innovation projects which allows them to maintain the concentration of power, a decision that is reinforced by the limitation to credit access due to innovation creates intangible assets that are not usually accepted as collateral by financial institutions. Meanwhile, given the particularities of these companies ‒ instability and liquidity problems due to the need for funds of operations ‒ the recourse to debt is an appropriate control mechanism to prevent overinvestment decisions.

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Llorca-Jaña, Manuel. "CONNECTIONS AND NETWORKS IN SPAIN OF A LONDON MERCHANT-BANKER, 1800-1850." Revista de Historia Económica / Journal of Iberian and Latin American Economic History 31, no. 3 (June 14, 2013): 423–58. http://dx.doi.org/10.1017/s0212610913000098.

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ABSTRACTThis paper deals with Anglo-Spanish trade and finances for the period c. 1810-1850. It concentrates on the business activities of a London merchant bank (Huth & Co. or Huth) with Spain during this period by paying special attention to the support given by Huth to the many bilateral trades between Spain and Britain in which the company participated. It also focuses on the support given by Huth to much trade in and out of Spanish ports but which did not go through British ports. This overall support included the provision of credit facilities, exchange rate brokerage, insurance services and commercial intelligence. In addition, the article covers the links between Huth and the Spanish crown, thanks to which the bank became an important conduit of Spanish investments in American securities before 1850. Huth was also the paymaster abroad for the Spanish state. In view of Huth's close connections to the Spanish economy during this period, it is perhaps surprising that this is the first study of this «Spanish» house in London.

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Gabai, Rafael Varón, and Auke Pieter Jacobs. "Peruvian Wealth and Spanish Investments: The Pizarro Family during the Sixteenth Century." Hispanic American Historical Review 67, no. 4 (November 1, 1987): 657–95. http://dx.doi.org/10.1215/00182168-67.4.657.

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Gabai, Rafael Varon, and Auke Pieter Jacobs. "Peruvian Wealth and Spanish Investments: The Pizarro Family during the Sixteenth Century." Hispanic American Historical Review 67, no. 4 (November 1987): 657. http://dx.doi.org/10.2307/2516048.

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Janoschka, Michael, Georgia Alexandri, Hernán Orozco Ramos, and Sonia Vives-Miró. "Tracing the socio-spatial logics of transnational landlords’ real estate investment: Blackstone in Madrid." European Urban and Regional Studies 27, no. 2 (January 20, 2019): 125–41. http://dx.doi.org/10.1177/0969776418822061.

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The rapid internationalisation of the Spanish property market has triggered debates about the main characteristics of emerging post-crisis urban dynamics. Financial and urban policy reforms have shaped a model depicted by incessant rent increases and displacements. Echoing these concerns, this article addresses two interconnected objectives about the way policy restructuring encouraged transnational investments into Spanish real estate and the concomitant socio-spatial effects this wider asset reshuffling has produced. Both queries are discussed by pinpointing the multi-scalar investment strategies of the private equity firm, Blackstone, which emerged as the predominant institutional investor during the recovery phase of the Spanish property market. The article initially sketches out the trajectory of the political economy of housing in Spain, and then it focuses on the strategies pursued by Blackstone for the acquisition of real estate and housing stock. The following sections connect the nodes of the financial chain that link this investor to former social housing tenants whose homes are by now owned by Blackstone. The spatial and social effects of this change in property ownership demonstrate the importance of in-depth research about the financial nodes that interplay with and shape the post-crisis urban condition in and beyond Southern Europe.

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Ruiz-Palomino, P., R. Del Pozo-Rubio, and R. Martínez-Cañas. "Risk and return characteristics of environmentally and socially responsible firms in Spain during a financial downturn: 2008–2011." South African Journal of Business Management 46, no. 2 (June 30, 2015): 65–76. http://dx.doi.org/10.4102/sajbm.v46i2.92.

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The onset of the global financial crisis in 2008 undermined trust in financial markets, with immediate damages to businesses and enduring negative effects for numerous national economies. The situation also has endangered progress in terms of investments in environmental and social management (ESM) issues, because managers may be more likely to embrace the misguided notion that such investments represent a non-returnable costs that will hinder firms’ financial performance. Yet ESM is needed now more than ever, because “doing good and doing well” messages are highly appreciated by stakeholders and can substantially improve a firm’s competitiveness. This article analyzes the performance of the Spanish FTSE4Good IBEX index, compared with that of the Spanish IBEX 35 index, during the financial crisis and reveals slightly better performance for the former. Thus, considering the difficult financial context, indicators of good environmental and social performance, among other factors, might have positive effects on stock index performance. The findings offer some key implications for managerial practice.

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Buğra Erdem, Fatih. "Evolutionary Developments in Spanish Corporate Law." European Company Law 19, Issue 1 (February 1, 2022): 6–10. http://dx.doi.org/10.54648/eucl2022002.

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It is very common to encounter commercial law regulations designed towards encouraging shareholders to make long-term investments in different jurisdictions in response to the issue of short-termism. Until a few months ago, EU Shareholder Rights Directive was seen as the most effective step, which was put into effect as of 3 September 2020, as regards the encouragement of long-term shareholder engagement. However, when the latest developments are considered, a new era has just started in Spain with Law No. 5/2021, which entered into force on 3 May 2021, regarding the duties and responsibilities of managers to increase shareholders’ long-term loyalty to listed companies by complying with the modifications envisaged by Directive 2017/828. This study, in light of what has been covered hitherto, examines the amendments (reform) brought by Law No. 5/2021 as well as evaluating its possible effects on the functioning of company law. Spanish Corporate Law Reform, Short-Termism, Shareholder Activism

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Kienle, Stephan. "Residential Housing Investment In Spain." International Business & Economics Research Journal (IBER) 12, no. 12 (November 25, 2013): 1645. http://dx.doi.org/10.19030/iber.v12i12.8258.

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Over the last decade, the Spanish housing market has gained a lot of attention due to its dynamics in house prices and residential investments. Our contribution provides a general framework based on the classical user cost approach. We take an equity constraint explicitly into account when modeling a long-term equilibrium. Against the background of theoretical implications we estimate a vector error correction model and find some evidence for the existence of such a financial constraint.

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MARTÍ, Josep, Maite ALGUACIL, and Vicente ORTS. "LOCATION CHOICE OF SPANISH MULTINATIONAL FIRMS IN DEVELOPING AND TRANSITION ECONOMIES." Journal of Business Economics and Management 18, no. 2 (April 21, 2017): 319–39. http://dx.doi.org/10.3846/16111699.2015.1013980.

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In this paper, we use firm-level data to investigate how different host country characteristics affect the decision of Spanish multinational firms to locate in developing and transition countries, and whether these determinants change when looking at manufacturing or services firms. As a methodological novelty, we estimate both standard conditional logit models as well as other discrete choice models that allow us to account for the possibility that firms perceive some alternative destinations as being more similar (nested and mixed logit models). A better understanding of the relevance of local factors that determine the competitiveness of these economies in providing multinational firms with location advantages can guide policymakers in their attempt to attract foreign capital flows. This, however, has not been previously addressed by the empirical literature at a firm level and across sectors. Our results suggest that Spanish investments in developing and transition economies are mainly driven by market-seeking factors. They also confirm the relevance of the business and financial climate in the location decision of multinational firms. Finally, the estimations reveal differences between manufacturing and services foreign direct investments in several local factors, such as the agglomeration effects, skilled labour and financial risk.

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Barberá Beltrán, R. "The value of financial information to make investment decisions in the Spanish stock market." Finance, Markets and Valuation 5, no. 2 (2019): 91–113. http://dx.doi.org/10.46503/uyhb1869.

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This article studies the correlation between companies listed on the Spanish continuous market and a set of ratios and financial economic variables used to measure business performance. The goal is to explain the behavior of the prices of the shares of the Spanish continuous market and design a model that optimizes long-term investments. The returns are compared with those of the Ibex 35 and the Ibex Total Return and it is concluded that some ratios have more influence than others in the evolution of the price and that it is not possible to beat the market significantly.

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Anikeeva, NATALYA. "THE RELATIONS OF SPAIN WITH MOROCCO AND WITH OTHER COUNTRIES OF THE MAGHREB IN THE CONTEXT OF EURO MEDITERRANEAN COOPERATION (1996-2004." Cuadernos Iberoamericanos, no. 2 (June 28, 2016): 7–12. http://dx.doi.org/10.46272/2409-3416-2016-2-7-12.

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The main economic interests of Spain in the Mediterranean region during the study period were focused on the Maghreb countries and were mainly associated with the energy sector. The leading recipients of Spanish investments are Tunisia and Morocco. Relations with the countries of the Maghreb Spain relied on a solid

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Dinica, Valentina. "Greening Electricity Production: A Success Story of Multi-Level Governance Convergence and Innovation." Energy & Environment 19, no. 6 (November 2008): 787–801. http://dx.doi.org/10.1260/095830508785363596.

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This paper analyzes the diffusion of wind power in Spain from the perspective of the multi-level governance features that contributed to the outcomes observed so far. Public authorities at all governance levels designed strategies that converged to reinforce each other's positive effects on potential investors and social acceptance. Next to implementing traditional policy instruments for financial support, Spanish authorities also engaged in direct capital investments in wind power, in the form of public-private partnerships, to reduce the risk perceptions of investors. Besides, regional authorities developed long-term strategies for wind power deployment to accommodate investors' plans. The convergence of these three strategies has led to a high investment interest and resulted in an exponential annual increase in the installed capacity of wind power.

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de Andrés, Pablo, Gabriel de la Fuente, and Pablo San Martin. "Capital structure decisions: What Spanish CFOs think." Academia Revista Latinoamericana de Administración 31, no. 2 (June 4, 2018): 306–25. http://dx.doi.org/10.1108/arla-10-2016-0267.

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PurposeThe way business practice adjusts to the models proposed by financial theory has been under moderate yet constant scrutiny from the academic world. The purpose of this paper is to contribute to this line of research by showing CFOs’ perceptions of Spanish companies with regard to their capital structure decisions.Design/MethodologyThe empirical approach is examined using information gathered through a survey answered by 140 CFOs of Spanish companies during 2011. Results are obtained from mean difference tests and ordered probit estimations.FindingsThe results of the paper show that managers attach importance to establishing and monitoring a target debt ratio and the capacity to maintain additional debt in order to provide financial flexibility. In addition, CFOs prefer internal financing to external, using debt when internal funds do not allow investments to be funded.Originality/ValueOn the whole, the results of this research show that trade-off and pecking order theories are not alternative views of the same problem, but represent complementary approaches of how companies define their capital structures.

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Carling, Jørgen. "Migration Control and Migrant Fatalities at the Spanish-African Borders." International Migration Review 41, no. 2 (June 2007): 316–43. http://dx.doi.org/10.1111/j.1747-7379.2007.00070.x.

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This article addresses the dynamics of migration control along the Spanish-African borders and the associated problem of migrant deaths. The past decade and a half has seen rising numbers of migration attempts, large investments in control measures, and resulting geographical and organizational responses on the part of smugglers. Advanced surveillance and interception infrastructure on the border is a necessary but far from sufficient element in controlling unauthorized migration. The growth in the number of migrant deaths seems to result from an increased number of migration attempts. The risk of dying in the attempt appears to be constant or slightly falling.

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Blanes, Fabián, Cristina De Fuentes, and Rubén Porcuna. "Corporate Social Responsibility and Managerial Compensation: Further Evidence from Spanish Listed Companies." Sustainability 13, no. 13 (June 30, 2021): 7341. http://dx.doi.org/10.3390/su13137341.

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Ongoing regulatory efforts aim to link managerial compensation with a firm’s performance. However, little is known about whether and how Corporate Social Responsibility (CSR) goals are considered in the design of the managerial compensation scheme. This paper addresses this research question by analyzing a sample of Spanish listed firms for the period spanning 2013–2018. The outcomes of the regressions suggest that there is a positive relationship between CSR and the managerial compensation, but this relationship is significant only with lower levels of CSR. The study also reveals that CSR is positively associated with the proportion of equity-based compensation and, therefore, negatively associated with the proportion of cash-based compensation. In all, our results suggest that firms with lower levels of CSR, likely following social pressures, seek to improve their investments in CSR; and, in doing so, they design a managerial compensation scheme that incentivizes the manager to meet the firm’s goals related to CSR investments. Hence, since CSR is associated with an increase in the long-term firm’s value, the equity-based component of the managerial scheme is higher than in the remaining firms. However, the high proportion of cash-based compensation is far from the desirable goals promoted by the Governance Codes.

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Cascajares, Mila, Alfredo Alcayde, José Antonio Garrido-Cardenas, and Francisco Manzano-Agugliaro. "The Contribution of Spanish Science to Patents: Medicine as Case of Study." International Journal of Environmental Research and Public Health 17, no. 10 (May 21, 2020): 3638. http://dx.doi.org/10.3390/ijerph17103638.

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Investments in research and development (R&D) and innovation are expensive, and one wishes to be assured that there is positive feedback and to receive guidance on how to direct investments in the future. The social or economic benefits of investments in R&D are of particular interest to policymakers. In this regard, public expense in research, especially through universities, is sometimes being questioned. This paper establishes a measure of how research in Spain, and specifically in its universities, is involved. In this study, we have analyzed all the literature cited in the period 1998–2018 produced by Spanish institutions and which has been cited in at least one international patent, obtaining more than 40,000 publications from more than 160,000 different authors. The data have been surprisingly positive, showing that practically all public universities contribute to this subject and that there is a great deal of international collaboration, both in terms of the number of countries with which they collaborate and the prestige of the institutions involved. Regarding the specific scientific fields in which this collaboration is most relevant, biochemistry, genetics and molecular biology, and medicine together account for almost 40% of the total works. The topics most used by these publications were those of diseases or medical problems such as: Neoplams, Carcinoma, Alzheimer Disease, or human immunodeficiency virus (HIV-1). Oncology was according to the All Science Journal Classification (ASJC) the leading and central issue. Therefore, although the result of basic research is difficult to quantify, when it is observed that there is a return in fields such as medicine or global health, it can be said that it is well employed. In terms of journals from a purely bibliometric point of view, it has been observed that some journals do not have a great impact or relative position within their categories, but they do have a great relevance in this area of patent support. Therefore, it would be worthwhile to set up a rank for scientific journals based on the citations of patents, so the percentage of articles cited in patents with Field-Weighted Citation Impact (FWCI) >1, and as an indicator of scientific transfer from universities or research centres, the transference index in patents (TIP) is also proposed.

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López Arceiz, Francisco José, and Ana José Bellosta. "Corporate Social Responsibility and good Corporate Governance practices in Spanish Ethical Mutual Funds: Analysis of investee companies." Innovar 27, no. 65 (July 1, 2017): 139–51. http://dx.doi.org/10.15446/innovar.v27n65.65068.

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Ethical Mutual Funds (EMF) stand out for their investments in companies that develop strategies based on Corporate Social Responsibility (CSR) through good practices of Corporate Governance (CG). The aim of this paper is to analyze the types of companies that make up the portfolio of Spanish EMF, taking into account their cg model, their organizational structure and their economic and financial aspects. The results obtained show that the Spanish EMF prefer companies that promote the participation of stakeholders in their organizational structure and accessibility to their information. Additional evidence shows that the development of good cg practices in the context of CSR favors access to financing provided by financial markets and, within them, the EMF.

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International Monetary Fund. "Spain: Financial Sector Assessment Program - Technical Note: Nonfinancial Equity Investments of Spanish Credit Institutions." IMF Staff Country Reports 06, no. 214 (2006): i. http://dx.doi.org/10.5089/9781451812176.002.

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Vega-Gómez, Francisco I., Francisco J. Miranda González, Antonio Chamorro Mera, and Jesus Pérez-Mayo. "Antecedents of Entrepreneurial Skills and Their Influence on the Entrepreneurial Intention of Academics." SAGE Open 10, no. 2 (April 2020): 215824402092741. http://dx.doi.org/10.1177/2158244020927411.

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The promotion of academic entrepreneurship through the creation of university spin-offs (USOs) as a transfer system has been enhanced during the last two decades. This commitment of universities and public policy makers has been based mainly on the use of investments of public funds in universities and the capacity for such investments to create employment and economic growth. In this sense, entrepreneurial skills are one of the strongest determinants of intention. For this reason, the present study proposes the use of the paradigm known as Big Five, which proposes as personality variables those recognized by the acronym OCEAN (openness, conscientiousness, extraversion, agreeableness, and neuroticism) to recognize if they are determinants of entrepreneurial skills and entrepreneurial intent, all through the application of Theory Planed Behavior (TPB). To study the influence of entrepreneurial skills, a self-administrated questionnaire was sent to more than 33,000 Spanish academics. The responses yielded a sample size of 799. The results show that entrepreneurial skills are the prime determinants of attitude and perceived control, and attitude is the decisive factor that determines the intention to go into business. Therefore, investment in training and the cultivation of skills and attitudes constitute the most relevant factors for achieving an increase in the creation of USOs.

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Pérez Calderón, Esteban, Patricia Milanés Montero, and Herenia Gutiérrez Ponce. "Gestión de los intangibles del capital humano. Política de retribuciones y sus efectos. El caso de los grupos de empresa cotizados españoles." Oikos 14, no. 30 (June 24, 2015): 49. http://dx.doi.org/10.29344/07184670.30.1018.

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RESUMENEn los últimos años, las empresas han venido realizando grandes inversiones en generosos mecanismos de retribución y compensación a sus empleados con la esperanza de alcanzar un doble objetivo. Por un lado, que estas actuaciones sean reconocidas por el mercado de valores y, por otro, esperando un mayor retorno de la inversión realizada en su personal. En el presente trabajo comprobamos cómo están repercutiendo estas inversiones sobre la productividad de los empleados (resultados económicos) y si son premiadas por el mercado de capitales (resultados financieros). Nuestro estudio se centra en los grupos de empresa cotizados españoles.Palabras clave: gestión, intangibles, capital humano, política retributiva. Intangibles of human capital management. Remuneration policy and its effects. The case of the spanish groups listed companies.ABSTRACTIn recent years, companies have been investing heavily in generous remuneration and compensation models for its employees hope to achieve two objectives. On the one hand, that these actions are recognized by the stock market and, second, expecting a greater return on investment in their human capital. In this paper we focus on to see how these investments are having an impact on employee productivity (economic results) and if they are rewarded by the capital market (financial results). Our study focuses on Spanish groups listed companies.Keywords: management, intangibles, human capital, remuneration policy.

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Seguí Alcaraz, Antoni. "Competitive environment and bank development." Journal of Global Responsibility 11, no. 3 (March 25, 2020): 257–74. http://dx.doi.org/10.1108/jgr-07-2019-0078.

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Purpose Right up to the moment, the financial sector has been considered a clean and a neutral sector, as far as social and environmental impact concerns. The purpose of this paper is to determine the attitude of Spanish credit institutions to the sustainable development. Design/methodology/approach Delphi methodology was used to test the viability and validity of the questionnaire and to choose the best systematic way of communication. The research to understand society and environment focussed on investments was conducted using a survey completed by 57 Spanish credit institutions. Various types of statistical analyses were performed to assess the questionnaire. Findings The higher the entities’ investment is in environmental projects, the more sensitive they will be about social responsibilities issues. However, the higher the percentage invested in funding to communities or dejected regions and in cultural projects. Research limitations/implications To know, measure and evaluate the activities of a credit institution in the environment, it is necessary to define indicators for the policies, procedures and management practices adequate for the sector. Practical implications Credit Spanish Institutions sector organizations are responding positively to sustainable development and, in the process, enhancing stakeholder value. Social implications In various practices of credit institutions, implementing a preventive environmental approach or undertaking initiatives to promote greater environmental responsibilities – along with the possibility to allocate funds for certain projects – environmental conditions are also considered. Originality/value To develop good environmental practices in credit institutions, they apply the principles of sustainability and identify and quantify the environmental risk in the normal internal process of risk assessment.

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Bariio, Gozalo Maximiliano. "Tra devozione e politica. Le chiese e gli ospedali di Santiago e Montserat di Roma, secoli XVI-XVIII." STORIA URBANA, no. 123 (October 2009): 101–27. http://dx.doi.org/10.3280/su2009-123005.

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- Between devotion and politics. The churches and hospitals of Santiago and Montserrat in Rome (16th-18th cent.) At the end of the Middle Ages the city of Rome saw the foundation of the hospitals and churches of Santiago of the Castilians, located on piazza Navona, and of Montserrat of the Aragonese Nation, settled on the homonymous street. Both of them were affluent institutions, developing an intense welfare and religious action in favour of their nationals. Little by little they became the tangible symbol of the Spanish presence in Rome, provoking the intervention of the Spanish royal power. The study takes advantage of a wide range of archival sources, reconstructing in detail income, expenses and the investments of the two institutions throughout the 16th to 18th centuries.

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Segundo, María Jesús San. "Widening Access to Higher Education in Spain: The Unexpected Effects of Two Policy Changes." Journal of Adult and Continuing Education 8, no. 1 (November 2002): 46–59. http://dx.doi.org/10.7227/jace.8.1.4.

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This article describes two policy changes in Spain, which were not designed as part of an access policy: regional decentralisation (following the approval of the Spanish Constitution in 1978) and the reform of university curricula that has taken place since 1989. It is shown that these policy changes have had some unexpected effects on access to higher education by different groups of individuals. The analysis pays special attention to the rates of participation of students in different regions, as well as to the probability of access according to socio-economic origin. Economic determinants of educational investments are emphasised. The article shows that the Spanish university system does not offer many opportunities for mature students to access and finance higher education.

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Castillo, Carmen, Ãlvaro GalÃ¡n, Raquel Balmaseda, Ana MarÃa DÃaz, and Elena Calcerrada. "A METHODOLOGY TO PRIORITIZE INVESTMENTS TO REDUCE RISKS IN PORTS." Coastal Engineering Proceedings, no. 36 (December 30, 2018): 65. http://dx.doi.org/10.9753/icce.v36.risk.65.

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In many countries worldwide, a strong economical effort in the construction of coastal infrastructures has already been faced. Nowadays, due to the financial crisis, most of the efforts are devoted to the conservation and maintenance of coastal structures instead of building new ones. Furthermore, the expected variations in sea level and met-ocean conditions due to climate change modify the stochastic nature of both wave loading and structural response which is different nowadays from that at the time the structures were designed. These facts encourage the coastal engineering community towards the development of reliable risk management and decision-making tools. A key point in the decision-making process is how to prioritize investments when deciding about adaptation or mitigation alternatives. This paper aims at providing a proposal including tips to select among the possible alternatives based on risk analysis and how each alternative modifies the risk level compared to the do-nothing alternative. An example on a Spanish port will be provided for better understanding.

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Kallas, Zein, Teresa Serra, and José M. Gil. "Effects of policy instruments on farm investments and production decisions in the Spanish COP sector." Applied Economics 44, no. 30 (October 2012): 3877–86. http://dx.doi.org/10.1080/00036846.2011.583220.

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VALOR, Carmen, Ricardo PALOMO, Javier ITURRIOZ, and José Luis MATEU. "SOCIALLY RESPONSIBLE INVESTMENTS AMONG SAVINGS BANKS AND CREDIT UNIONS: EMPIRICAL FINDINGS IN THE SPANISH CONTEXT." Annals of Public and Cooperative Economics 78, no. 2 (June 2007): 301–26. http://dx.doi.org/10.1111/j.1467-8292.2007.00330.x.

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del Río, Pablo, Miguel Ángel Tarancón Morán, and Fernando Callejas Albiñana. "Analysing the determinants of environmental technology investments. A panel-data study of Spanish industrial sectors." Journal of Cleaner Production 19, no. 11 (July 2011): 1170–79. http://dx.doi.org/10.1016/j.jclepro.2010.05.001.

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Nesti, Arnaldo. "Introduction: le catholicisme espagnol dix ans après la mort de Franco." Social Compass 33, no. 4 (November 1986): 337–45. http://dx.doi.org/10.1177/003776868603300401.

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In this introduction, A. Nesti lays out the principle characte ristics of the nature and dialectic of contemporary Spanish Catho licism: the dependence of Spain on foreign investments, the role of the monarchy at the time of the change in regime, the forma tion of a political class for whom the anti-Franco struggle was unknown, the impulse in favour of change within the boundaries of civil society and the Church, and the europeanization of the Iberian peninsula.

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Mas-Ruiz, Francisco José, Carla Rodriguez-Sanchez, Franco Manuel Sancho-Esper, and Esther de Quevedo-Puente. "Global and local corporate social responsibility: a study of foreign entry mode choice in Spanish quoted firms." Academia Revista Latinoamericana de Administración 35, no. 1 (November 23, 2021): 59–79. http://dx.doi.org/10.1108/arla-03-2021-0067.

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PurposeThis study examines the relationships between the foreign entry mode (FEM) used by a company, its global corporate social responsibility (CSR) and the host country's local CSR environment in Spanish quoted firms. Additionally, it seeks to explore the moderating role of the host country's CSR in the relationship between firm's global CSR and FEM.Design/methodology/approachTo test the proposed hypotheses, binary logistic regression is used with a sample of 418 foreign direct investment (FDI) operations between 2002 and 2008. This period is chosen with the aim of knowing what happened after the boom in Spanish investments abroad in the 1990s and the uncertainty of the early 2000s.FindingsThe results reveal firm patterns of behaviour regarding the FEM of companies and the two types of CSR according to the proposed hypotheses. Furthermore, it is found that the host country's local CSR may not only have a direct influence on the FEM decision but may also moderate the relationship between the firm's global CSR and firm's entry mode in a host country.Originality/valueThis is one of the first studies to propose as explanatory variables of FEM two types of CSR (firm's global CSR and host country's local CSR). This has been possible by the creation of an ad-hoc database with data from different information sources of FDI (Instituto Español de Comercio Exterior) and CSR [Eikon™ and AccountAbility National Corporate Responsibility Index (NCRI)].

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Freitas, Otavio Dias, and Guilherme Kirch. "Performance dos bancos brasileiros no contexto de digitalização." Brazilian Review of Finance 17, no. 2 (November 5, 2019): 38. http://dx.doi.org/10.12660/rbfin.v17n2.2019.79189.

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<p>Considering the context of digitalization of the brazilian banking sistem, the present study evaluates how the investment in technology is affecting the performance of the financial institutions. Many studies have evaluated the impact of the digitalization on the results of the banks. Hernando and Nieto (2007) and Ciciretti, Hasan e Zazzara (2009) identified profit gains and cost reduction with the implementation of internet banking on the Spanish and Italian banks. In the present study, it was analysed, through linear regressions, the relationship of investments in IT and measures of profitability (ROA, ROE and margin of intermediation) and expenses (personal and total of administrative expenses). It was also verified, through a Data Envelopment Analysis (DEA), the evolution of the technical, cost and allocative efficiencies of the Brazilian banks in the, being the data segregated in terms of investment in IT. The results suggests that the investment in information technology from the banks has a positive and significative relation with the profitability variables and with the administrative expenses, partially corroborating with the studies of Hernando and Nieto (2007). It was also verified improvement on the technical efficiency of the Brazilian banks along the analysed period, mainly amongst on that with the greatest Investment in IT.</p>

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Medina, Ana, Ángeles Cámara, and José-Ramón Monrobel. "Measuring the Socioeconomic and Environmental Effects of Energy Efficiency Investments for a More Sustainable Spanish Economy." Sustainability 8, no. 10 (October 18, 2016): 1039. http://dx.doi.org/10.3390/su8101039.

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Valor, Carmen, and Marta de la Cuesta. "An empirical analysis of the demand of Spanish religious groups and charities for socially responsible investments." Business Ethics: A European Review 16, no. 2 (April 2007): 175–90. http://dx.doi.org/10.1111/j.1467-8608.2007.00487.x.

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Mathers, Constance Jones. "Family Partnerships and International Trade in Early Modern Europe: Merchants from Burgos in England and France, 1470–1570." Business History Review 62, no. 3 (1988): 367–97. http://dx.doi.org/10.2307/3115541.

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In fifteenth– and sixteenth–century Europe, international trade was often conducted by family partnerships. Commonly, one partner remained in the family's native land, while one or more family members established themselves temporarily or permanently abroad. In this article, Professor Mathers describes the mercantile activity of three families from the Spanish city of Burgos who profited from family partnerships that linked trade from northern Spain to England and France. She also examines the ways in which family inheritance practices and alternative family investments and expenditures affected the capital and continuity of the partnerships.

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Demireva, Neli. "Receiving Country Investments and Acquisitions: How Migrants Negotiate the Adaptation to Their Destination." Social Inclusion 7, no. 4 (November 7, 2019): 18–27. http://dx.doi.org/10.17645/si.v7i4.2352.

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This article looks at the adaptation patterns of EU migrants—Bulgarian, Romanian, Italian and Spanish—in European markets, and uses several interviews of overseas non-EU migrants in the UK and Germany. The interaction of migrants with the receiving context is being considered. Drawing on several interviews with actual migrants and recruitment agents collected in the GEMM (Growth, Equal Opportunities, Migration and Markets) project in four major immigrant societies (Germany, UK, Spain and Italy), this article focuses on the receiving country acquisitions that facilitate the adaptation of migrants along their journeys. EU migrants have very different adaptation strategies to non-EU migrants, and this article comments on the differences observed as well as on the differences between them according to skill levels. Migrant adaptation challenges are acknowledged and studied dynamically. Thus, this unique data brings forward a multi-layered picture of the migrant adaptation process in Europe.

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Diaz-Fernandez, Mirta, Mar Bornay-Barrachina, and Alvaro Lopez-Cabrales. "Innovation and firm performance: the role of human resource management practices." Evidence-based HRM: a Global Forum for Empirical Scholarship 3, no. 1 (April 7, 2015): 64–80. http://dx.doi.org/10.1108/ebhrm-10-2012-0012.

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Purpose – The purpose of this paper is to study the relationship between human resource (HR) practices and innovative performance in the Spanish industry. Specifically, the authors will focus on innovativeness, analysing the extent to which this capability is favoured by some human resource management (HRM) practices as investments on training and whether it is also affected by the use of full time and/or temporary workers. Design/methodology/approach – The authors propose the assessment of these relationships by means of the Spanish Survey of Industrial Strategic Behaviour. The authors focus the longitudinal analysis on the period 2001-2008, years of the highest economic growth in Spain during the last decades. Findings – The findings show that the most innovative firms are also the most competitive ones in terms of added value. Moreover, while a significant and positive relationship between the use of full-time workers and innovativeness is demonstrated, the role of temporary workers employees remains unclear. Finally, and surprisingly, training investments on new technologies, languages and data processes do not have any impact on innovativeness. The paper is closed with a discussion about some lessons the authors may learn from these wealthy years and the role played by HRM investments on firms. Practical implications – This study demonstrates the existence of two objectives that managers should seek to achieve. On one side, they should focus on innovation as a way of increasing firm performance. And, on the other side, managers should invest on specific training, in order to develop more innovative and profitable organizations. Originality/value – This paper proposes and tests a model where innovation mediates the relationships between HRM practices and performance. Such mediation would be a contribution to the strategic HRM field as very recent research call for the study of new mediators. Also, this paper employs panel data (2001-2008) for assessing these relationships. This is worthy because it is coherent with the idea of internal development of capabilities, instead of cross-sectional analyses and because the authors may infer causality with the study design, as it is demanded by researchers.

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Ioakimidis, Christos, Sesil Koutra, Ali Bagheri, and Konstantinos Genikomsakis. "Solar thermal and wind energy applications: Case study of a small Spanish village." Thermal Science 22, no. 5 (2018): 2163–76. http://dx.doi.org/10.2298/tsci171229269i.

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The present work examines the supply of heating and electricity to the Spanish village of Uruena, using biomass and other local renewable sources as a result of the growing interest worldwide towards the development of sustainable and energy independent small communities. Specifically, this case study considers the design of a district heating system consisting of a solar heating plant, a biomass plant using straw as a sustainable fuel for the base load and an oil boiler for the peak load, coupled with a hot water tank as a thermal energy storage option. Two alternative scenarios are analyzed for electricity generation purposes, namely a system consisting of three small wind turbines and a system with a single large wind turbine. The results show that the cost of large-scale electricity storage depends on the application and often involves significant capital investments.

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Rodríguez-Escobar, Javier Alfonso, and Javier González-Benito. "The role of information technology in purchasing function." Journal of Business & Industrial Marketing 30, no. 5 (June 1, 2015): 498–510. http://dx.doi.org/10.1108/jbim-06-2012-0106.

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Purpose – This paper aims to analyze how information technology (IT) can help explain performance by the purchasing function. In addition to analyzing the direct effect and mediating role of purchasing practices in the relationship between IT and purchasing performance, as has been considered in previous research, this study investigates the possibility of a moderating effect of IT in the relationships between purchasing practices and purchasing performance. Design/methodology/approach – The propositions are tested with data from 156 purchasing managers, collected through a survey of members of the Spanish Association of Professionals of Purchasing and Supply Management who work in industrial companies. Findings – Although IT investments exert a positive effect on the purchasing function, the results show that this effect takes place through the implementation of purchasing practices that in turn improve the results of the purchasing function. Originality/value – Instead of focusing on a single, specific effect of IT investment in the purchasing function, this paper considers three potential effects (direct, mediated and moderating). Thus, it provides a more comprehensive overview of the topic and a more complete elucidation of the actual effects.

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Ginesta, Xavier, Toni Sellas, and Mireia Canals. "Chinese Investments in Spanish Football: A Case Study of RCD Espanyol New Management Trends After Rastar Purchase." Communication & Sport 7, no. 6 (September 19, 2018): 752–70. http://dx.doi.org/10.1177/2167479518802332.

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The global football industry is changing clubs’ corporate identities. Historically, European football had strong local roots; sport organizations represented local values and fandom were regionally based. However, sporting competitiveness pushes clubs to search for new investors, and foreign investors in Europe are attracted by the popularity of European football. In this article, we analyse how Chinese capital and brands arrived in Barcelona, through the negotiations of a football club in 2016: the Reial Club Deportiu Espanyol (RCDE). RCDE is the club that has received the second most trophies in Catalonia, after FC Barcelona, since the beginning of the 20th century. Today, it has one of the most modern stadiums in Spain, designed using a business approach, and has become a corporate ambassador for the Chinese government’s strategy of becoming a “world football superpower” by 2050. Using a case study approach, this article analyses management and corporate identity changes in the organization due to the new Chinese owner: the Rastar Group.

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Gómez-Déniz, Emilio, Nancy Dávila-Cárdenes, Alejandro Leiva-Arcas, and María J. Martínez-Patiño. "Measuring Efficiency in the Summer Olympic Games Disciplines: The Case of the Spanish Athletes." Mathematics 9, no. 21 (October 22, 2021): 2688. http://dx.doi.org/10.3390/math9212688.

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This paper estimates the technical efficiency of Olympic disciplines in which Spanish athletes participate, taking into account the results obtained in the last three Olympic Games. A stochastic production frontier model (normal-exponential), using two control variables linked to economic factors such as budget and sports scholarships, is estimated in order to obtain different Olympic sports’ efficiencies distinguished by gender, using data from 2005 to 2016. The results detect some differences among the considered disciplines. In all the cases, athletics, canoeing, cycling, swimming, and tennis, depending on the gender, reach better values. This paper’s novelty lies in the efficiency analysis carried out on the Olympic disciplines and athletes of a country and not on the country’s efficiency, which allows managers and stakeholders to decide about investments concerning disciplines and athletes.

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Journal articles on the topic 'Spanish Investments'

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