• Private sales clubs: a 21st century distribution channel 

      Betancourt, Roger R.; Cortiñas Ugalde, Mónica Upna; Chocarro Eguaras, Raquel Upna; Elorz Domezain, Margarita Upna; Múgica Grijalba, José Miguel Upna (Elsevier, 2017)   Artículo / Artikulua
      Private sales clubs are a novel service institution arising out of the Internet’s ability to allow an exclusively online channel to distribute out of season or out of fashion inventories to a large set of customers. They ...
    • Game, set and match: the favorite long-shot bias in tennis betting exchanges 

      Abinzano Guillén, María Isabel Upna; Muga Caperos, Luis Fernando Upna; Santamaría Aquilué, Rafael Upna (Taylor & Francis, 2016)   Artículo / Artikulua  OpenAccess
      We test for the existence of Favorite-Longshot Bias (FLB) in tennis betting exchanges. Despite these being order-driven markets, with no direct participation from bookmakers, we have found very similar results to those ...
    • The role of investor type in the fee structures of pension plans 

      Abinzano Guillén, María Isabel Upna; Muga Caperos, Luis Fernando Upna; Santamaría Aquilué, Rafael Upna (Springer, 2016)   Artículo / Artikulua  OpenAccess
      We examine the role of the investor type in the fee structure of pension plans. Our examination uses a data set of employer-sponsored and individual private pension funds in Spain. We find different determinants of the ...
    • Stock characteristics, investor type and market myopia 

      Río Solano, María Cristina del Upna; Santamaría Aquilué, Rafael Upna (Taylor & Francis, 2016)   Artículo / Artikulua  OpenAccess
      This paper investigates the role of stock characteristics and investor type in market myopia. Using the Generalized Method of Moments (GMM) to control for endogeneity, we obtain evidence indicating that market myopia is ...
    • HPWS, technology and flexibility in the Spanish manufacturing industry: the moderating role of social capital 

      Shijaku, Elio; Larraza Kintana, Martín Upna; Urtasun Alonso, Ainhoa Upna (Emerald Group Publishing Limited, 2015)   Artículo / Artikulua  OpenAccess
      The purpose of this paper is to analyze a specific pattern of social capital and its pivotal role in the HPWS utilization. The paper uses Spanish cross-sectional data from the manufacturing industry to examine the moderating ...
    • Sentiment-prone investors and volatility dynamics between spot and futures markets 

      Corredor Casado, María Pilar Upna; Ferrer Zubiate, Elena Upna; Santamaría Aquilué, Rafael Upna (Elsevier, 2015)   Artículo / Artikulua  OpenAccess
      This paper analyses the role of investor sentiment in the contemporaneous dynamics of spot and futures markets and in volatility spillovers between them. To explore this issue, we analyse spot and futures markets on stock ...
    • Momentum and default risk. Some results using the jump component 

      González Urteaga, Ana Upna; Muga Caperos, Luis Fernando Upna; Santamaría Aquilué, Rafael Upna (Elsevier, 2015)   Artículo / Artikulua
      In this paper we separate the total stock return into its continuous and jump component to test whether stock return predictability should be attributed to omitted risk factors or behavioral finance theories. We extend ...
    • Relevant dimensions and contextual weights of distance in international business decisions: evidence from Spanish and Chinese outward FDI 

      Drogendijk, Rian; Martín Martín, Óscar Upna (Elsevier, 2015)   Artículo / Artikulua  OpenAccess
      We investigate how distance and different dimensions of distance between countries explain the outward FDI of firms according to distinct home country contexts. We identify three important dimensions of country distance: ...
    • The impact of investor sentiment on stock returns in emerging markets. The case of Central European markets 

      Corredor Casado, María Pilar Upna; Ferrer Zubiate, Elena Upna; Santamaría Aquilué, Rafael Upna (Taylor & Francis, 2015)   Artículo / Artikulua  OpenAccess
      This paper studies the effect of investor sentiment on stock returns in three Central European markets: the Czech Republic, Hungary and Poland. The results show that sentiment is a key variable in the prices of stocks ...
    • Do entrepreneurial role models influence the nascent entrepreneurial activity of immigrants? 

      Contín Pilart, Ignacio Upna; Larraza Kintana, Martín Upna (Wiley, 2015)   Artículo / Artikulua  OpenAccess
      This paper examines how the influence of entrepreneurial role models in the individual’s decision to become a nascent entrepreneur is moderated by their socio-cultural fit. By looking at the entrepreneurial activity of ...
    • Customer heterogeneity in the development of e-loyalty 

      Cortiñas Ugalde, Mónica Upna; Chocarro Eguaras, Raquel Upna; Villanueva Orbaiz, María Luisa Upna (Emerald Group Publishing Limited, 2015)   Artículo / Artikulua  OpenAccess
      Purpose: The purpose of this study is to identify customer-specific differences in a general model of e-loyalty taking into account the existence of unobserved heterogeneity. Specifically, we aim to 1) test for the presence ...
    • The incremental expansion of Born Internationals: a comparison of new and old Born Internationals 

      Johanson, Martin; Martín Martín, Óscar Upna (Elsevier, 2015)   Artículo / Artikulua
      Not much is known about the characteristics of “early internationalizers” in their later life and there is scant empirical literature – and an acute need for quantitative studies – about the features of Born Internationals ...
    • Sentiment-prone investors and volatility dynamics between spot and futures markets 

      Corredor Casado, María Pilar Upna; Ferrer Zubiate, Elena Upna; Santamaría Aquilué, Rafael Upna (Elsevier, 2015)   Artículo / Artikulua  OpenAccess
      This paper analyses the role of investor sentiment in the contemporaneous dynamics of spot and futures markets and in volatility spillovers between them. To explore this issue, we analyse spot and futures markets on stock ...
    • Game, set and match: the favorite-long shot bias in tennis betting exchanges. 

      Abinzano Guillén, María Isabel Upna; Muga Caperos, Luis Fernando Upna; Santamaría Aquilué, Rafael Upna (Taylor & Francis, 2015)   Artículo / Artikulua  OpenAccess
      We test for the existence of Favorite-Longshot Bias (FLB) in tennis betting exchanges. Despite these being order-driven markets, with no direct participation from bookmakers, we have found very similar results to those ...
    • Behavioral biases never walk alone: an empirical analysis of the effect of overconfidence on probabilities 

      Abinzano Guillén, María Isabel Upna; Muga Caperos, Luis Fernando Upna; Santamaría Aquilué, Rafael Upna (SAGE, 2014)   Artículo / Artikulua  OpenAccess
      This paper presents evidence of the impact of overconfidence bias in asset prices drawn from a study based on data from tennis betting exchanges. A series of betting strategies in tournaments with a clear-cut favourite are ...
    • Are family firms really more socially responsible? 

      Cruz, Cristina; Larraza Kintana, Martín Upna; Garcés Galdeano, Lucía Upna; Berrone, Pascual (Wiley, 2014)   Artículo / Artikulua  OpenAccess
      This paper conducts an empirical study as to whether family firms are more socially responsible than their non-family counterparts, and explores the conditions in which this difference in social behavior occurs. We argue ...
    • Is cognitive bias really present in analyst forecasts? The role of investor sentiment 

      Corredor Casado, María Pilar Upna; Ferrer Zubiate, Elena Upna; Santamaría Aquilué, Rafael Upna (Elsevier, 2014)   Artículo / Artikulua  OpenAccess
      This paper analyses four key markets within the European context. In this context, where the level of analyst coverage is lower than in the US setting, we aim to ascertain whether the origin of optimism in analyst forecasts ...
    • Is default risk the hidden factor in momentum returns? Some empirical results 

      Abinzano Guillén, María Isabel Upna; Muga Caperos, Luis Fernando Upna; Santamaría Aquilué, Rafael Upna (Wiley, 2014)   Artículo / Artikulua  OpenAccess
      This paper analyzes the role of default risk in the momentum effect focusing on data from four developed European stock markets (France, Germany, Spain and the United Kingdom). Using a market-based measure of default risk, ...
    • The impact of market environments on marketing relationships 

      Betancourt, Roger R.; Chocarro Eguaras, Raquel Upna; Cortiñas Ugalde, Mónica Upna; Elorz Domezain, Margarita Upna; Múgica Grijalba, José Miguel Upna (Canadian Center of Science and Education, 2014)   Artículo / Artikulua  OpenAccess
      This paper addresses two issues empirically that have been somewhat neglected in the marketing literature. The first one is whether or not basic marketing relationships at the establishment level are robust or stable ...
    • Dual embeddedness, influence and performance of innovating subsidiaries in the multinational corporation 

      Ciabuschi, Francesco; Holm, Ulf; Martín Martín, Óscar Upna (Elsevier, 2014)   Artículo / Artikulua  OpenAccess
      This study adopts a business network view to study the effects of subsidiary embeddedness on both subsidiary influence within the MNC and innovation-related business performance. Through Structural Equation Modeling we ...