Artículos de revista INARBE - INARBE aldizkari artikuluak

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Open Access
Reconsiderando el ejercicio del derecho de separación en caso de falta de distribución de dividendos. Su posible enervación por la sociedad
(Aranzadi, 2020) Pérez Moriones, Aránzazu; Derecho; Zuzenbidea; Institute for Advanced Research in Business and Economics - INARBE
El artículo 348 bis LSC fue objeto de una importante reforma a finales de 2018, que dejó sin resolver algunos interrogantes, entre los que se encuentra la posibilidad de que la sociedad prive de eficacia al derecho de separación una vez ejercitado por el socio. Desde hace décadas, la mayoría de nuestra doctrina prácticamente ha dado por supuesta esta posibilidad. Sin embargo, la solución adoptada por la STS de 23 de enero de 2006, en relación con un supuesto de separación voluntaria por modificación estatutaria del régimen de transmisión de participaciones sociales, ha resultado concluyente en la posición adoptada por la práctica totalidad de las sentencias dictadas por Audiencias Provinciales respecto de una eventual enervación del derecho de separación por falta de distribución de dividendos. La discrepancia existente entre doctrina y jurisprudencia justifica el análisis de este tema.
Open Access
Characterization of countable and continuous Richter-Peleg multi-utility representations
(Elsevier, 2025-08-01) Bosi, Gianni; Induráin Eraso, Esteban; Munárriz Iriarte, Ana; Rodríguez Rincón, Yeray; Estadística, Informática y Matemáticas; Estatistika, Informatika eta Matematika; Institute for Advanced Materials and Mathematics - INAMAT2; Institute for Advanced Research in Business and Economics - INARBE
This paper contributes to the theoretical literature on decision models where agents may encounter challenges in comparing alternatives. We introduce a characterization of countable Richter–Peleg multi-utility representations, both semicontinuous (upper and lower) and continuous, within preorders that may not be total. The proposed theorems provide a comprehensive mathematical framework, complementing previous results of Alcantud et al. and Bosi on countable multi-utility representations. Our characterizations establish necessary and sufficient conditions through topological properties and constructive methods via indicator functions. Furthermore, we introduce a topological framework aligned with the property of strong local non-satiation and provide a novel theorem containing sufficient conditions for the existence of countable upper semi-continuous multi-utility representations of a preorder. The results demonstrate that preference representations can be achieved using countably many functions rather than uncountable families, with implications for computational tractability and the identification of maximal elements in optimization contexts.
Open Access
The role of technology, calculative and collaborative HRM and social trust in driving human resource analytics in European firms
(Emerald, 2025-07-16) Bayo Moriones, José Alberto; Erro Garcés, Amaya; Lera López, Fernando; Gestión de Empresas; Enpresen Kudeaketa; Economía; Ekonomia; Institute for Advanced Research in Business and Economics - INARBE
Purpose Research on the adoption of human resource analytics (HRA) is dominated mainly by qualitative case studies and by evidence based on the individual perspective using limited samples of workers. This perspective does not consider contextual factors within and outside the firm that could promote or impede the adoption of HRA. This paper tries to overcome this gap by offering empirical evidence on the contextual factors associated with the use of HRA in European countries. Design/methodology/approach Using a sample of more than 10,000 European establishments, we focus on the influence of two internal company factors (general-purpose technologies (GPTs) and human resource management (HRM)) and one external factor (social trust in the country) on the incidence of HRA. Findings Results show that HRA is more likely to be used in countries with low generalized trust and in firms where collaborative and calculative HRM practices and technologies, such as robots and general-purpose data analytics, are implemented. Originality/value The research contributes to ongoing debates in the field by providing empirical evidence on the significance of contextual factors related to the adoption of HRA in European companies. Specifically, this is achieved by including variables that have not been examined in previous literature, such as collaborative and calculative HRM practices and GPTs (computers, robots and data analytics technologies) at the company level as well as the impact of social trust (an external factor) at the country level.
Open Access
Examining greenwashing and SDG-washing: an analysis of corporate engagement with the SDGs
(Emerald, 2023-11-17) Río Solano, María Cristina del; González Álvarez, Karen; López Arceiz, Francisco José; Gestión de Empresas; Enpresen Kudeaketa; Institute for Advanced Research in Business and Economics - INARBE
Our objective is to examine the existence of greenwashing and SDG-washing processes by comparing ex-ante (SDG Compass) and ex-post (SDG Compliance) indicators and investigating whether the limitations associated with these indicators encourage companies to engage in washing processes. We use a sample of 1,154 companies included in the S&P Sustainability Yearbook (formerly the RobecoSAM Yearbook). We test for the presence of greenwashing by comparing ex-ante and ex-post indicators for each SDG, while to test for SDG-washing we compare the two ex-ante and ex-post approaches considering the full set of SDGs. Our results show that there is no consistency between the two types of indicators to measure the level of SDG implementation in organisations. This lack of consistency may facilitate both greenwashing and SDG-washing processes, which is due to the design and limitations of these measurement tools. Companies could choose those indicators that paint their commitment to the SDGs in the best light, but they could also select indicators based on the SDGs they want to report on. These two options would combine greenwashing and SDG washing. The shift towards improved standards and regulations for measuring SDG achievement is the result of several social factors such as investor scrutiny, regulatory reform, consumer awareness and increased corporate accountability. Few previous studies have analysed in detail the interaction between greenwashing and SDG-washing. They focus on the use of ex-ante or ex-post indicators separately, with samples composed of local companies, and without considering the whole set of SDGs.
Embargo
When reviews speak through pictures: visual content and its influence on helpfulness
(Elsevier, 2025-10-01) Vidaurreta Apesteguía, Paula; Alzate Barricarte, Miriam; Arce Urriza, Marta; Armendáriz Íñigo, José Enrique; D'Acunto, David; Gestión de Empresas; Enpresen Kudeaketa; Estadística, Informática y Matemáticas; Estatistika, Informatika eta Matematika; Institute for Advanced Research in Business and Economics - INARBE; Institute of Smart Cities - ISC
This research investigates the impact of service quality dimensions displayed in user-generated photos on their perceived helpfulness. Building on the SERVQUAL model and the Haywood-Farmer framework, we propose a novel methodology that integrates advanced image-to-caption techniques with topic modeling algorithms and negative binomial regression to extract, interpret, and quantify the effect of visuals on review helpfulness. Two studies were conducted relying on two sample of online reviews from two tourism-related service types (5,293 hotel reviews from Cancun, Mexico, and 11,252 spa and wellness reviews from Iceland). The results underline the role of visuals in affecting review helpfulness, with aspects such as “Room” “Leisure” and “Hotel Outdoor” positively impacting review helpfulness in hotels and “Natural Water Features” emerging as significant in spa and wellness reviews. Overall, this study underscores the relevance of tangibles and empathy in service evaluation, providing actionable strategies for businesses to optimize visual content.
Open Access
La distribución de la responsabilidad por la ejecución del viaje combinado: un periplo de ida y vuelta para organizadores y minoristas
(Thomson Reuters Aranzadi, 2022-10-01) Pérez Moriones, Aránzazu; Derecho; Zuzenbidea; Institute for Advanced Research in Business and Economics - INARBE
El legislador español ha modificado recientemente el criterio de distribución de la responsabilidad entre organizadores y minoristas por la ejecución del viaje combinado. Con base en la autorización contenida en el artículo 13 de la Directiva 2015/2302 relativa a los viajes combinados y a los servicios de viaje vinculados, en nuestro ordenamiento ambos responden frente al viajero del correcto cumplimiento de los servicios de viaje incluidos en el contrato de viaje combinado. Hasta esta última reforma, aquellos respondían solidariamente. Actualmente, organizadores y minoristas responden en función de las obligaciones que les correspondan por su ámbito de gestión del viaje combinado. Por tanto, el legislador ha retomado la solución acogida en la Ley 21/1995, de 6 de julio, reguladora de los Viajes Combinados, pero también ha previsto el procedimiento de reclamación.
Open Access
Responsabilidad personal del administrador frente a tercero por el incumplimiento por la sociedad de la obligación de reembolso de un cobro indebido. Comentario a la STS de 10 de diciembre de 2020 (RJ 2020, 4849)
(Civitas, 2021-05-01) Pérez Moriones, Aránzazu; Derecho; Zuzenbidea; Institute for Advanced Research in Business and Economics - INARBE
La responsabilidad de los administradores prevista en el artículo 241 LSC no es una responsabilidad objetiva, ni aquellos son garantes de la sociedad. Sin embargo, la existencia de una conducta específica y propia del administrador, que ha ocasionado un daño directo en el patrimonio del tercero y que constituye una contravención del deber legal de diligencia del artículo 225 LSC, permite apreciar la concurrencia de todos los presupuestos legales para exigir la responsabilidad directa del administrador.
Embargo
Leveraged buyouts in Spain: organic growth or industry consolidation?
(Elsevier, 2025-08-01) Ayash, Brian; Lizarraga Dallo, Fermín; Sánchez Alegría, Santiago; Gestión de Empresas; Enpresen Kudeaketa; Institute for Advanced Research in Business and Economics - INARBE
Private equity controlled firms are often utilized as platforms for the consolidation of industries. Using a sample of Spanish firms acquired in leveraged buyouts, we argue that add-on acquisitions are distorting conclusions presented in the literature. For instance, Boucly et al. (2011), Bernstein et al. (2019), Battistin et al. (2017) and others associate buyouts, and specifically leveraged buyouts, with growth. We present a simple but novel approach to isolate organic growth and observe that depreciation is greater than capital expenditures. While Bansraj et al. (2022) documents that in Europe, organic sales growth is negative, and acquisitions mask this decline, we focus on investment. Our results show that industry consolidation is also masking a decline in economically important investment. We also study outcomes, comparing the bankruptcy rate in our sample to a propensity score matched set of control firms. We find that leveraged buyouts in Spain are accelerating industry consolidation without visible operating performance improvements or long-term value creation.
Open Access
Instructional design for tutoring on interactive platforms: creating educational interventions overcoming the digital gap
(Springer, 2025-05-27) Rodríguez Rincón, Yeray; Munárriz Iriarte, Ana; Campión Arrastia, María Jesús; Goicoechea López-Vailo, María Isabel; Estadística, Informática y Matemáticas; Estatistika, Informatika eta Matematika; Institute for Advanced Research in Business and Economics - INARBE; Universidad Pública de Navarra / Nafarroako Unibertsitate Publikoa
This article proposes an instructional model based on psycho-pedagogical theories to serve as a basic structural unit for the creation of educational reinforcement platforms aimed at strengthening quantitative competences with which students enroll mathematics and statistics subjects (or other subjects that draw on this knowledge) at university. Although there are Intelligent Tutoring Systems (ITS) that are beneficial for students, the difficulty of manipulation and programming, together with their high economic cost when lacking programming skills, have prevented a widespread use of this type of interventions. Following the first steps of the ADDIE model, this article develops an instructional model that can be easily replicated by instructors lacking in programming and digital skills, designed to be applied in free and easy-to-handle interactive tutoring platforms, such as Genially.com or Canva, among others. The main foundations on which the pedagogical guideline is based are extracted through an extensive review of academic literature on psycho-pedagogical theories such as scaffolding, effective learning, metacognition, educational reinforcement, or feedback. Through it, students will be able to strengthen their quantitative conceptual foundations and reflect on their own learning process.
Open Access
Flipped Classroom or flip to foster self-regulation competencies in Mathematics in Economics and Business students
(Elsevier, 2025-02-08) Rodríguez Rincón, Yeray; Munárriz Iriarte, Ana; Magreñán Ruiz, Ángel Alberto; Estadística, Informática y Matemáticas; Estatistika, Informatika eta Matematika; Institute for Advanced Research in Business and Economics - INARBE
This study evaluates the implementation of the Flipped Classroom (or Inverted Classroom) methodology in university-level Mathematics courses for Economics and Business Administration students, addressing common challenges such as quantitative deficiencies, diverse student backgrounds, variability in learning paces, and math anxiety, which often lead to demotivation and disengagement. The quasi-experimental design included three student groups, with a total sample of 137 students: an experimental group using the Flipped Classroom method, and two control groups taught through traditional methods. Data were collected via pretests, posttests, and a satisfaction survey. The results reveal that students who actively engaged with the Flipped Classroom methodology showed significant improvements in academic performance, particularly among those with weaker mathematical backgrounds, compared to the ones who followed traditional methods. The analysis demonstrates that this improvement is independent of instructor quality, as the Flipped Classroom methodology fosters the development of self-regulation and self-efficacy skills. These competencies were key in enhancing students' academic success, rather than the specific instructional approach. Additionally, students reported high levels of satisfaction with the Flipped Classroom approach, citing increased time investment, greater engagement with Mathematics, and recommending its broader application in other subjects. Overall, the study supports the effectiveness of the Flipped Classroom methodology in improving academic outcomes and fostering essential learning skills.
Open Access
Irrigation agriculture and income redistribution
(Springer, 2025-05-15) Ezcurra Orayen, Roberto; Economía; Ekonomia; Institute for Advanced Research in Business and Economics - INARBE; Universidad Pública de Navarra / Nafarroako Unibertsitate Publikoa
This paper advances the hypothesis and establishes empirically that the adoption of irrigation agriculture during the preindustrial era is a predictor of current cross-country differences in income redistribution. Countries whose populations historically relied on irrigation agriculture as their primary subsistence mode tend to exhibit lower levels of redistribution today, confirming that certain historical practices related to agriculture can have lasting effects on present-day outcomes. The research employs several empirical strategies to address concerns about the potential endogeneity of ancestral irrigation, including an instrumental variable approach that exploits cross-country variation in irrigation suitability. Furthermore, the results remain unaffected after controlling for an extensive set of geographic, historical and contemporary factors that may be correlated with both historical irrigation and redistribution. The analysis also reveals that the contribution of ancestral irrigation to income redistribution has partly operated through its impact on the individualistic-collectivist dimension of culture and political institutions.
Open Access
Past-myopic economic agents
(Economics Bulletin, 2025-03-30) Campión Arrastia, María Jesús; Induráin Eraso, Esteban; Munárriz Iriarte, Ana; Estadística, Informática y Matemáticas; Estatistika, Informatika eta Matematika; Institute for Advanced Research in Business and Economics - INARBE; Institute for Advanced Materials and Mathematics - INAMAT2
In this paper, the idea of myopic preference and myopic topology provided by Brown and Lewis is further explored. In this sense, new definitions of myopia are introduced for finite spaces. The main contribution of the work is the inclusion of the past in the models. We have defined the notions of past-myopic preference and topology for sequence spaces and n-dimensional spaces. Adding this new dimension makes it possible to work with decision spaces where the economic agent only has information about past events and when she has to choose accordingly to it, which is in line with the reality of certain economic situations, such as voting or finances. This approach generates a wide room for future research lines related to the idea of myopia. Based on this, it would allow to study in forthcoming research past-hyperopic topologies and preferences, and to interconnect different preferences, defined on the past and future models.
Open Access
Austerity and asymmetries in the fiscal policies of the Eurozone: the case of Southern Europe
(Springer, 2025-04-23) Bajo Rubio, Óscar; Gómez Gómez-Plana, Antonio; Economía; Ekonomia; Institute for Advanced Research in Business and Economics - INARBE; Universidad Pública de Navarra / Nafarroako Unibertsitate Publikoa
In this paper, we analyse the effects of several austerity policies implemented by the Southern European countries, i.e., Portugal, Italy, Greece, and Spain on the economies of the European Union and the rest of the world. In particular, we simulate the reduction in one point in the government deficit-to-GDP ratio in each of these countries, through several alternative policies, both from the spending side and the revenue side. The empirical methodology is based on a computable general equilibrium model, which incorporates the backward sectoral linkages and inter-country flows generated by fiscal consolidations. Our results show that these austerity policies were generally more painful, in terms of a fall in the levels of activity and a worsening in income distribution for labour, in the scenarios of tax increases rather than in those based on spending cuts. The effects on the rest of the European Union and the rest of the world were however mostly negligible.
Open Access
The relationship between the institutional environment and job satisfaction: a multilevel approach
(Springer, 2025-06-24) Gastearena Balda, María Lourdes; Ollo López, Andrea; Larraza Kintana, Martín; Rodrigues, Ricardo; Gestión de Empresas; Enpresen Kudeaketa; Institute for Advanced Research in Business and Economics - INARBE
An extensive body of literature has explored the key determinants of employee job satisfaction placing particular emphasis on individual differences and job characteristics. However, variations in job satisfaction levels persist across countries, highlighting the importance of contextual and institutional factors across different national contexts. This study investigates the role of formal and informal institutions in shaping job satisfaction. Based on a sample of 10.822 employees from 26 European countries, the study employs a multilevel methodology to test the proposed hypotheses. The findings demonstrate that national institutions significantly contribute to cross-country differences in job satisfaction. In particular, the positive impact of labour freedom on job satisfaction is more pronounced in countries characterised by low power distance, low uncertainty avoidance, and high individualism. Conversely, in countries with high power distance, high uncertainty avoidance, and low individualism, the relationship between labour freedom and job satisfaction is weaker. These results emphasise the critical role of cultural and institutional contexts.
Open Access
From math aversion to effective integration: theoretical framework for building quantitative skills in Economics and Business students
(Elsevier, 2025-05-14) Rodríguez Rincón, Yeray; Munárriz Iriarte, Ana; Estadística, Informática y Matemáticas; Estatistika, Informatika eta Matematika; Institute for Advanced Research in Business and Economics - INARBE
This study proposes a novel theoretical framework that systematically integrates the cognitive-affective factors evidenced in academic literature-math anxiety, math self-efficacy, math identity, and perceived mathematical utility-which enhance the development of quantitative skills (QS) in Economics and Business students. The proposed framework structures a progression based on four formative developmental stages: Identification, Recognition, Transfer, and Integration. To facilitate practical application, a self-assessment tool characterizes and diagnoses each student's QS development level. Additionally, a set of instructional strategies based on existing literature supports the design of targeted didactic interventions, fostering resilience, confidence, and engagement with quantitative methods. Both the theoretical framework and the self-assessment tool have been validated by an expert panel using the Modified Delphi Method. The panel of experts confirmed the clarity and coherence of the proposed model as a tool for diagnosing QS development and guiding effective instructional interventions. Beyond its classroom application, this model serves as a foundation for curriculum design, offering a theoretical framework to support the structuring of pathways for the progressive development of quantitative skills throughout the academic journey. By addressing both cognitive and affective factors, this study contributes to an innovative approach that helps bridge the gap between theoretical research and practical implementation.
Open Access
Kin-based institutions and state capacity
(Elsevier, 2025-06-01) Ezcurra Orayen, Roberto; Economía; Ekonomia; Institute for Advanced Research in Business and Economics - INARBE; Universidad Pública de Navarra / Nafarroako Unibertsitate Publikoa
This paper examines the relationship between kin-based institutions and state capacity. The results show that the intensity of kinship networks is a strong predictor of present-day state capacity, both across and within countries. Societies historically characterized by more intensive kinship systems tend to have weaker states today. This finding holds after accounting for various variables that may be correlated with both kinship network intensity and state capacity, including a broad range of geographic, historical, and contemporary factors. The results are also robust when employing an instrumental variable approach that exploits plausibly exogenous variation in historical exposure to the marriage laws of the medieval Catholic Church. Additionally, the analysis reveals that societies with intensive kin-based institutions typically exhibit lower political centralization. Given the essential role of political centralization in establishing state capacity, this finding helps explain the negative association between kinship intensity and state capacity.
Open Access
Un estatuto integrador para el siglo XXI
(Ministerio de Trabajo y Economía Social, 2024-05-01) Goñi Sein, José Luis; Derecho; Zuzenbidea; Institute for Advanced Research in Business and Economics - INARBE
El presente trabajo no tiene otro objeto que repensar sobre los aspectos del Estatuto de los trabajadores mas necesitados de alguna reconsideración a la vista de las disfunciones y desajustes importantes que presenta. Se parte de los principios que inspiran el ordenamiento jurídico laboral, y se fijan unas pautas metodológicas necesarias a los efectos de hacer un correcto diagnostico de la situación de las relaciones laborales, y de sugerir algunas propuestas de cambio. Se constata que el viejo Estatuto presenta un déficit de tutela respecto de muchas personas necesitadas, y que resulta ineficaz para combatir los viejos problemas de precariedad y segregación, así como que genera, en la otra parte, bastante incertidumbre, dado el incesante incremento de medidas sociales sin una valoración de los costes asumibles. Como propuestas de cambio para el nuevo Estatuto del siglo XXI, se aboga por incorporar el concepto de 'vulnerabilidad' como elemento central de tutela; por introducir un modelo de empresa integrada, frente a la empresa fragmentada con una mayor homogeneidad laboral; por restringir las situaciones desencadenantes de la vulnerabilidad (parcialidad, variabilidad); y por incorporar la Directiva 2022/2041/UE, sobre salario mínimo adecuado. En el plano colectivo, se ve la necesidad de otorgar mayor protagonismo a las representaciones sindicales, y de articular mayores espacios a la autonomía colectiva, así como de apostar por una negociación a nivel descentralizado de las empresas, con un contrapoder sindical estructurado. Por ultimo, frente a los desafíos y riesgos de la transición digital y ecológica, el trabajo propone integrar la Carta de Derechos Digitales y garantizar a los trabajadores el derecho a la formación ante los continuos e inevitables cambios o transiciones de empleo.
Open Access
Exploring unconscious user responses to affective computing in interactive prototypes: a consumer neuroscience study
(Taylor & Francis, 2025-05-18) Saavedra Montejo, Álvaro; Chocarro Eguaras, Raquel; Cortiñas Ugalde, Mónica; Rubio, Natalia; Gestión de Empresas; Enpresen Kudeaketa; Institute for Advanced Research in Business and Economics - INARBE; Universidad Pública de Navarra / Nafarroako Unibertsitate Publikoa
Affective Computing (AC) has gained increasing attention for its potential to enrich Human-Computer Interaction by enabling technologies to recognise and respond to human emotions. However, there is limited research on how users unconsciously react to AC-based interactive prototypes at a physiological level during interaction. This study examines user cognitive and affective responses to two interactive AC-based Prototypes using consumer neuroscience techniques - Electroencephalogram (EEG), Galvanic Skin Response (GSR), and Eye-tracking - to capture unconscious physiological responses. Two laboratory experiments were conducted with a total sample of 34 participants, each experiment employing a different interactive AC-based prototype. The objective is to explore how users engage in cognitive and affective responses, as well as visual behaviour, through unconscious physiological responses generated during interactions with AC-based Prototypes. Results indicate that AC-based Prototypes exhibit greater engagement, cognitive load, and emotional impact on users compared to conventional technology. This study contributes to the field by providing evidence on how AC Prototypes influence user responses at an unconscious level, offering insights into how these technologies can enhance human-computer interactions. These findings indicate that AC technology enables more personalized and emotionally adaptive interactions between humans and machines by responding to users' affective states.
Open Access
Economic consequences of gender differences in behavior
(Elsevier, 2025-05-16) García-Segarra, Jaume; Hernández Arenaz, Íñigo; Rey-Biel, Pedro; Economía; Ekonomia; Institute for Advanced Research in Business and Economics - INARBE
This paper serves as the opening for the Virtual Special Issue on the economic consequences of gender differences in behavior, published in the Journal of Economic Psychology. The issue aims to consolidate recent research exploring how gender differences in behavior, reflected in risk attitudes, competitiveness, and negotiation tendencies, impact economic outcomes and, in particular, may partially explain labor market differences across genders regarding occupational segregation, wage gaps, and disparities in career advancement. We provide an overview of the topic, highlighting the importance of understanding gender-specific economic behaviors and setting the stage for the detailed studies, and follow by introducing the articles included in the special issue, which use mainly experimental and empirical insights.
Open Access
Using pledges to improve the effectiveness of environmental information campaigns: the case of biowaste recycling
(National Academy of Sciences, 2025-05-02) Alonso-Paulí, Eduard; Balart, Pau; Ezquerra, Lara; Hernández Arenaz, Íñigo; Economía; Ekonomia; Institute for Advanced Research in Business and Economics - INARBE
Through a field study (N = 1,519) that uses a technology to record real-time data on waste sorting, we find that offering the opportunity to sign a pledge increases the effectiveness of an environmental campaign. With a timespan of over four years, the pledge increased waste sorting participation by 4.55 to 5.10 percentage points (SD = 0.1997). The effect is greater immediately after the campaign (around 9 to 10 pp during the first 15 wk), but it remains sizable and statistically significant 150 to 210 wk after signing (3.11 to 4.45 pp). Continue Reading