INARBE - Institute for Advanced Research in Business and Economics

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Open Access
Absorptive capacity in family firms: exploring the role of the CEO
(Emerald, 2024) Garcés Galdeano, Lucía; Kotlar, Josip; Caicedo Leitón, Ana Lucía; Larraza Kintana, Martín; Frattini, Federico; Gestión de Empresas; Enpresen Kudeaketa; Institute for Advanced Research in Business and Economics - INARBE
Purpose: Absorptive capacity (AC), the ability to leverage external knowledge for innovation, helps explain the mixed findings on family firms' innovation performance. Our research focuses on the CEO's role - whether family or non-family, and founding or later generation - in influencing AC. We also explore how firm size and environmental dynamism affect these relationships, offering insights into varying AC levels among family firms. Design/methodology/approach: OLS regression models were estimated to test the hypotheses using a sample of 364 family firms in Spain. Findings: Family firms¿ absorptive capacity is greater when the CEO is a family member, and even more so when the family CEO belongs to the founding family generation. While AC diminishes in larger family firms this effect is mitigated when the CEO is a family member. The predicted moderating effect of environmental dynamisms is not supported by the analyses. Originality: This paper adds insights about the drivers of heterogeneity in innovation among family firms, addressing recent calls for more nuanced views of how family members drive the strategic behavior of the business, and incorporating considerations of different types of family firms based on the identity of the firm CEO. The results overall support the theoretical claims, but also open up important questions for future studies.
Open Access
La accesión inmobiliaria: la problemática de la construcción en suelo ajeno
(Thomson Reuters Aranzadi, 2021) Elizari Urtasun, Leyre; Derecho; Zuzenbidea; Institute for Advanced Research in Business and Economics - INARBE
Open Access
Agent-based simulation improves e-grocery deliveries using horizontal cooperation
(IEEE, 2020) Serrano Hernández, Adrián; Faulín Fajardo, Javier; Torre Martínez, Rocío de la; Cadarso, Luis; Estatistika, Informatika eta Matematika; Enpresen Kudeaketa; Institute of Smart Cities - ISC; Institute for Advanced Research in Business and Economics - INARBE; Estadística, Informática y Matemáticas; Gestión de Empresas
E-commerce has increased tremendously in recent decades because of improvements in the information and telecommunications technology along with changes in societal lifestyles. More recently, e-grocery (groceries purchased online) including fresh vegetables and fruit, is gaining importance as the most-efficient delivery system in terms of cost and time. In this respect, we evaluate the effect of cooperation-based policies on service quality among different supermarkets in Pamplona, Spain. Concerning the methodology, we deploy, firstly, a detailed survey in Pamplona in order to model e-grocery demand patterns. Secondly, we develop an agent-based simulation model for generating scenarios in cooperative and non-cooperative settings, considering the real data obtained from the survey analysis. Thus, a Vehicle Routing Problem is dynamically generated and solved within the simulation framework using a biased-randomization algorithm. Finally, the results show significant reductions in lead times and better customer satisfaction when employing horizontal cooperation in e-grocery distribution.
Open Access
Agua dulce para refrigeración: las necesidades hídricas de las centrales nucleares en España
(2019) Sesma Martín, Diego; Ekonomia; Institute for Advanced Research in Business and Economics - INARBE; Economía
Objetivo: hacer una primera estimación de las necesidades hídricas de las centrales nucleares españolas desde 1969 hasta 2014. El objetivo es, por tanto, calcular el uso consuntivo del agua (la cantidad de agua evaporada, transpirada o incorporada a la producción de energía) por las centrales nucleares españolas, así como la cantidad total de agua extraída y necesaria para el funcionamiento de las centrales nucleares.
Open Access
Agua dulce para refrigeración: una visión a largo plazo de la huella hídrica de las centrales nucleares en España
(2016) Sesma Martín, Diego; Rubio Varas, María del Mar; Ekonomia; Institute for Advanced Research in Business and Economics - INARBE; Economía
Objectives: our research pioneers a first approximation to the water footprint of the Spanish nuclear power plants operating with freshwater from 1969 to the present. Our aim is to calculate the consumptive use of water (i.e. the amount of water evaporated, transpired, or incorporated in energy production) for Spanish nuclear power plants, and the amounts of water withdrawals required for running nuclear power plants. To sum up, what is the water impact of our nuclear power plants? Will water limit our energy future? Should water be considered when planning the electricity mix in the future? These are some of the questions to solve.
Open Access
Agua para producción termoeléctrica en la Cuenca del Ebro, 1969-2015
(2019) Sesma Martín, Diego; Ekonomia; Institute for Advanced Research in Business and Economics - INARBE; Economía
Este estudio evalúa las necesidades de agua para la generación de energía termoeléctrica en la Cuenca del Ebro. Mediante el cálculo de las demandas y consumos de agua para generación termoeléctrica en la región, este estudio profundiza en el conocimiento sobre el nexo agua-energía y cubre buena parte del vacío existente en la literatura sobre este tema en España.
Open Access
An approach to distributed systems from orderings and representability
(Springer, 2024) Estevan Muguerza, Asier; Institute for Advanced Research in Business and Economics - INARBE; Universidad Pública de Navarra / Nafarroako Unibertsitate Publikoa, JIUPNA19-2022
In the present paper, we propose a new approach on ‘distributed systems’: the processes are represented through total orders and the communications are characterized by means of biorders. The resulting distributed systems capture situations met in various fields (such as computer science, economics and decision theory). We investigate questions associated to the numerical representability of order structures, relating concepts of economics and computing to each other. The concept of ‘quasi-finite partial orders’ is introduced as a finite family of chains with a communication between them. The representability of this kind of structure is studied, achieving a construction method for a finite (continuous) Richter–Peleg multi-utility representation.
Open Access
Analysing the relationship between QM, performance appraisal and pay for performance
(Routledge, 2021) Bayo Moriones, José Alberto; Torre Martínez, Rocío de la; Enpresen Kudeaketa; Institute for Advanced Research in Business and Economics - INARBE; Gestión de Empresas
The purpose of this paper is to analyse the relationship between quality management, performance appraisal and pay for performance in a sample of 203 manufacturing plants (including firms that do not apply quality management) in Spain employing at least 20 workers. We make a distinction between collaboration with suppliers, customer focus and the use of quality tools. This consideration of quality management as multidimensional will help to disentangle the complex interrelationships with performance appraisal and pay for performance. Our findings point to a positive association of customer focus, collaboration with suppliers and quality tools with performance appraisal evaluating results and behaviours. Regarding pay for performance, closer collaboration with customers is positively related to individual pay for performance. The use of quality tools is positively related to individual and firm pay for performance. The managerial implications point out that there is still room for improving the effectiveness of quality initiatives by incorporating changes in pay for performance and performance appraisal oriented to the adaptation to the principles of quality management. From the theoretical perspective, our paper underlines the importance of not considering quality management as a unidimensional reality when examining its relationship with other management practices.
Open Access
Analyst optimism and market sentiment: evidence from European corporate sustainability reporters
(Elsevier, 2024) Río Solano, María Cristina del; Ferrer Zubiate, Elena; López Arceiz, Francisco José; Institute for Advanced Research in Business and Economics - INARBE; Universidad Pública de Navarra / Nafarroako Unibertsitate Publikoa
This study investigates the effect of investor sentiment on analysts’ optimism bias for a set of European companies with high-quality non-financial information reporting. The contents of the reports should make stock recommendations for such firms that are less prone to sentiment-driven optimism bias; our observations show this to be the case. For further insight, we analysed the informative value of stock recommendations in high- and low-sentiment periods, taking sustainability reporting quality into account. We find that buy recommendations for high-sustainability stocks have no informational value when sentiment is high, whereas informative recommendations in the form of sell recommendations for low-sustainability stocks appear when sentiment is high.
Embargo
Analyst responses to changes in credit risk
(Wiley, 2025-02-03) Abinzano Guillén, María Isabel; Corredor Casado, María Pilar; Martínez García, Beatriz; Gestión de Empresas; Enpresen Kudeaketa; Institute for Advanced Research in Business and Economics - INARBE
Do analysts adjust their recommendations when a company's credit risk changes? Using an extensive sample of 300,145 observations, covering 3722 US firms from 2000 to 2021, we find that analysts revise their recommendations when a firm's credit risk decreases but not when it increases. This result is consistent with analysts¿ optimism bias, as previously identified in the literature. However, we further find that this optimism bias disappears for firms with low information asymmetry or good informativeness. The fact that analysts for these firms have less cognitive bias and greater pressure to make accurate recommendations may explain this result. Our research highlights that analyst disclosures should be treated with caution, especially in firms with poor informational characteristics. A proper understanding of analyst recommendations is critical for the decision-making processes of investors and companies and calls for better regulations.
Open Access
Analysts herding: when does sentiment matter?
(Routledge, 2018) Blasco de las Heras, Natividad; Corredor Casado, María Pilar; Ferrer Zubiate, Elena; Enpresen Kudeaketa; Institute for Advanced Research in Business and Economics - INARBE; Gestión de Empresas
Herding among analysts emerges when analysts give priority to their peers’ opinions instead of their own beliefs or information. Some circumstances may enhance or restrain this type of behaviour. We postulate that market sentiment is one of them. This article analyses the effect that investor sentiment may have on analysts’ herding behaviour in the U.K. Our results suggest that ‘easy situations’ such as analysing easy-to-value securities and releasing optimistic information at times of high market sentiment clearly reduce herding practices, whereas herding clearly increases in difficult situations when analysts have to release negative information at moments of high investor sentiment.
Open Access
El anidamiento institucional y su dinámica histórica en comunidades rurales complejas. Dos estudios de caso (Navarra, siglos XIV-XX)
(2022) Lana Berasain, José Miguel; Laborda Pemán, Miguel; Institute for Advanced Research in Business and Economics - INARBE
En las páginas que siguen ofreceremos, en primer lugar, una aproximación al tratamiento de la propiedad comunal en las ciencias sociales; en segundo lugar, presentaremos algunas evidencias históricas del funcionamiento de instituciones de acción colectiva operativas a diferentes niveles; y, en tercer lugar, ilustraremos esta lógica con dos estudios de caso ubicados en la Navarra rural.
Open Access
Aportaciones de la inteligencia artificial en materia preventiva y nuevos riesgos emergentes
(Tirant lo Blanch, 2023) Marín Malo, Mirentxu; Derecho; Zuzenbidea; Institute for Advanced Research in Business and Economics - INARBE
Open Access
Are acquirers different? Identifying firm precursors to acquisitions
(Emerald, 2023) King, David; Shijaku, Elio; Urtasun Alonso, Ainhoa; Gestión de Empresas; Enpresen Kudeaketa; Institute for Advanced Research in Business and Economics - INARBE
Purpose: The authors propose and test a theoretical framework that develops and analyzes precursors to firm acquisitions to determine if acquirers differ from other firms. Design/methodology/approach: The authors use longitudinal, archival data from a sample of the largest firms in the global pharmaceutical industry from 1991 to 2012 with 1,327 firm-year observations. Findings: The authors integrate prior research to show that the firm characteristics involving (1) R&D investment, (2) prior experience and (3) network centrality influence the likelihood that a firm will complete an acquisition. Originality/value: In contrast to research focusing on the performance of acquiring firms, the authors show that firm characteristics predict acquisition activity by highlighting that acquiring firms differ from other firms. The authors also develop how network synergies can be realized by acquirers that have information advantages from more central network positions.
Open Access
Are football managers as efficient as coaches? Performance analysis with ex ante and ex post inputs in the Premier league
(Routledge, 2019) Zambom Ferraresi, Fabíola; Iraizoz Apezteguia, Belén; Lera López, Fernando; Ekonomia; Institute for Advanced Research in Business and Economics - INARBE; Economía; Universidad Pública de Navarra / Nafarroako Unibertsitate Publikoa
There is a controversy on sport performance literature about what type of inputs might explain more deeply the performance of sports clubs (inputs specification controversy). By one side, several papers have analysed sports teams' performance using the match-related statistics or wages as inputs, well-known as ex post inputs. By other side, some authors have criticized the use of these ex post inputs, and recommend the use of ex ante inputs, as the market value of the players. We have analysed the performance of football teams estimating technical efficiency with three different inputs specification. The methodologies employed were data envelopment analysis (DEA) and a bootstrapped DEA. Our sample is composed by English Premier League football clubs, during three seasons (2012/13-2014/15). The DEA results indicate that the correlation between the three models is positive and significant. The DEA-bootstrapped results help to restate the robustness of the estimations and endorsed the inputs choices. The correlations of the estimations with market value and match-related statistics are the most striking (90% and 94%, DEA and bootstrapped DEA), which indicate that the existent discussion related to the use of match-related statistics as input is unjustified, because it does not affect significantly the efficiency estimations.
Open Access
Are mediterranean nonprofits adopting the social enterprise model?
(Springer, 2023) López Arceiz, Francisco José; Bellostas Pérezgrueso, Ana José; Rivera, Pilar; Gestión de Empresas; Enpresen Kudeaketa; Institute for Advanced Research in Business and Economics - INARBE
The social enterprise model, which is characterized by economic, social, and governance dimensions, has become a key aspect of modern welfare states in Europe. Despite its potential to increase revenue diversification for nonprofits, particularly through commercial income, its effects in the context of Mediterranean countries within the European Union are untested. This study aims to examine the adoption of the social enterprise model by Mediterranean nonprofits. The results suggest that organizations with high levels of diversification through commercial income exhibit some characteristics of the social enterprise model, and this behavior is influenced by factors such as the type of promoter, user, organizational aims, and activities.
Open Access
Are public employees more satisfied than private ones? The mediating role of job demands and job resources
(Emerald, 2021) Gastearena Balda, María Lourdes; Ollo López, Andrea; Larraza Kintana, Martín; Gestión de Empresas; Enpresen Kudeaketa; Institute for Advanced Research in Business and Economics - INARBE
Purpose – This paper aims to compare job satisfaction in public and private sectors and the mediating role of several job demands and resources on the relationship between the employment sector and job satisfaction. Design/methodology/approach – Drawing on the job demands-resources model, this study argued that differences in job satisfaction were explained largely by the job characteristics provided in each sector. Data comes from the quality of working life survey, a representative sample of 6,024 Spanish public and private employees. Findings – This study revealed that public employees were more satisfied than private ones. This relationship was partially mediated by job demands and job resources, meaning that the public and private employment sectors provided different working conditions. Public employees, in general, had fewer demands and more job resources than private ones, which resulted in different levels of job satisfaction. Additionally, partial mediation indicated that public employees are more satisfied than private ones, despite accounting for several job demands and job resources. Research limitations/implications – While the findings of this study highlighted the relative importance of job demands and job resources in affecting job satisfaction of public and private employees, the generalizability of the results to other countries should be limited as the study only used data from a single country. Practical implications – A significant portion of the positive effect on job satisfaction of public employees is channeled through the lower levels of routine work and lower number of required working hours and through better job resources such as higher salary, more telework, greater prospects at work and more training utility. To improve job satisfaction, it is apparent that managers should pay special attention to things such as routine work, working hours, training and telework. Originality/value – This paper contributes to the comprehension of how several job demands and resources simultaneously play a mediating role in explaining the relationship between the employment sector and job satisfaction.
Open Access
Are public employees more satisfied than private ones?: the mediating role of job demands and job resources
(Emerald, 2021-08-09) Gastearena Balda, María Lourdes; Ollo López, Andrea; Larraza Kintana, Martín; Gestión de Empresas; Enpresen Kudeaketa; Institute for Advanced Research in Business and Economics - INARBE
Objetivo: Este artículo compara la satisfacción laboral en los sectores público y privado y el papel mediador de varias demandas y recursos laborales en la relación entre el sector laboral y la satisfacción laboral. Diseño/metodología/enfoque: Basándonos en el modelo Demandas del Trabajo-Recursos (JD-R), argumentamos que las diferencias en la satisfacción laboral se explican en gran medida por las características del trabajo que se ofrece en cada sector. Los datos proceden de la Encuesta de Calidad de Vida Laboral (ECVT), una muestra representativa de 6.024 empleados públicos y privados españoles. Conclusiones: El estudio revelo que los empleados públicos estaban mas satisfechos que los privados. Esta relación estaba parcialmente mediada por las exigencias del trabajo y los recursos laborales, lo que significa que los sectores de empleo público y privado ofrecían condiciones de trabajo diferentes. Los empleados públicos, en general, tenían menos exigencias y mas recursos laborales que los privados, lo que dio lugar a diferentes niveles de satisfacción laboral. Además, la mediación parcial indico que los empleados públicos están mas satisfechos que los privados, a pesar de tener en cuenta varias demandas y recursos laborales. Limitaciones e implicaciones de la investigación: Si bien los resultados de este estudio ponen de manifiesto la importancia relativa de las exigencias y los recursos del puesto de trabajo a la hora de afectar a la satisfacción laboral de los empleados públicos y privados, la generalización de los resultados a otros países debería ser limitada, ya que el estudio solo utilizo datos de un único país. Implicaciones practicas: Una parte importante del efecto positivo sobre la satisfacción laboral de los empleados públicos se canaliza a través de los niveles mas bajos de trabajo rutinario y el menor número de horas de trabajo exigidas y a través de mejores recursos laborales como un salario mas alto, mas teletrabajo, mayores perspectivas en el trabajo y mas utilidad de la formación. Para mejorar la satisfacción laboral, es evidente que los directivos deben prestar especial atención a aspectos como el trabajo rutinario, el horario laboral, la formación y el teletrabajo. Originalidad/valor: Este artículo contribuye a la comprensión de como varias exigencias y recursos del trabajo desempeñan simultáneamente un papel mediador en la explicación de la relación entre el sector del empleo y la satisfacción laboral
Open Access
Aspectos fiscales en la internacionalización de la empresa vasca: régimen fiscal de los trabajadores desplazados al extranjero
(Instituto Vasco de Administración Pública, 2015) López López, Hugo; Derecho; Zuzenbidea; Institute for Advanced Research in Business and Economics - INARBE
En un contexto de economía globalizada como el actual y en particular, en una situación como la española donde existe una tendencia clara hacia la internacionalización del tejido empresarial, la movilidad de trabajadores y su traslado a otras jurisdicciones, durante un período determinado de tiempo, cada vez es más frecuente. Lo anterior puede tener efectos relevantes en el estatuto jurídico del trabajador desplazado, siendo los más relevantes no sólo aquellos que afectan a su régimen fiscal, sino también los aspectos laborales y en buena medida los de carácter administrativo que pueden afectar también al régimen fiscal aplicable a las rentas obtenidas por el desplazamiento. El objeto del presente trabajo es exponer las características principales del régimen fiscal de los trabajadores que se desplazan al extranjero para desempeñar su actividad laboral. Para ello, se aborda la cuestión previa y necesaria relativa a la residencia a efectos fiscales de dicho trabajador. A partir de ahí se abordan por separado las situaciones en que el desplazamiento no origina pérdida de la residencia fiscal en el País Vasco y aquellas otras en que el trabajador expatriado pierde, como consecuencia del desplazamiento, su residencia fiscal en el territorio del País Vasco. Dentro de los primeros supuestos se expone la incidencia que tiene la eventual existencia de Convenio de Doble Imposición (en adelante CDI) entre España y el país donde el contribuyente se desplaza para desarrollar su actividad laboral y, también, las previsiones contenidas en la regulación del IRPF en las normativas correspondientes de los tres Territorios Históricos que pueden afectar a las rentas obtenidas por el trabajador, como consecuencia del desplazamiento. Con ello se pretende hacer una aproximación global, y ciertamente general, al régimen fiscal de los trabajadores desplazados al extranjero.
Open Access
Assigning numerical scores to linguistic expressions
(MDPI, 2017) Campión Arrastia, María Jesús; Falcó Díaz de Cerio, Edurne; García Lapresta, José; Induráin Eraso, Esteban; Institute for Advanced Research in Business and Economics - INARBE; Institute for Advanced Materials and Mathematics - INAMAT2; Universidad Pública de Navarra / Nafarroako Unibertsitate Publikoa
In this paper, we study different methods of scoring linguistic expressions defined on a finite set, in the search for a linear order that ranks all those possible expressions. Among them, particular attention is paid to the canonical extension, and its representability through distances in a graph plus some suitable penalization of imprecision. The relationship between this setting and the classical problems of numerical representability of orderings, as well as extension of orderings from a set to a superset is also explored. Finally, aggregation procedures of qualitative rankings and scorings are also analyzed.