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Arocena Garro, Pablo

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https://academica-e.unavarra.es/handle/2454/48600

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Arocena Garro

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Pablo

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Gestión de Empresas

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INARBE. Institute for Advanced Research in Business and Economics

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0000-0002-4035-4597

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365

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20202
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Start date: 2020 × End date: 2020 ×

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Now showing 1 - 2 of 2
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    PublicationEmbargo
    Measuring and decomposing productivity change in the presence of mergers
    (Elsevier, 2020) Arocena Garro, Pablo; Saal, David S.; Urakami, Takuya; Zschille, Michael; Enpresen Kudeaketa; Institute for Advanced Research in Business and Economics - INARBE; Gestión de Empresas
    Managers and policymakers often encourage mergers and acquisitions of companies with the aim of increasing the productivity of the involved firms. However, problems with the measurement of productivity change usually occur when analyzing companies that merged during the period under consideration: while only individual predecessor firms exist in the base period, in the following period only the integrated company is observable. We therefore propose a new adaptation of the Malmquist index that is appropriate in the presence of mergers, which also allows for a detailed analysis of their effects on productivity change. Moreover, we believe that our methodological approach provides a useful widely applicable tool to identify the contribution of past mergers to productivity growth. We illustrate our merger consistent productivity decomposition, by using a sample of Japanese water supply systems observed in 2003, and the resulting consolidated and non-consolidated systems observed in 2009. On average, we find that mergers contributed positively to productivity change and that our merger consistent decomposition contributes to a better understanding of the determinants of productivity performance in the Japanese water sector.
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    PublicationOpen Access
    The impact of ISO 14001 on firm environmental and economic performance: the moderating role of size and environmental awareness
    (Wiley, 2020) Arocena Garro, Pablo; Orcos Sánchez, Raquel; Zouaghi, Ferdaous; Enpresen Kudeaketa; Institute for Advanced Research in Business and Economics - INARBE; Gestión de Empresas
    This paper analyzes the impact of adopting the ISO 14001 standard on firm environmental and economic performance. In particular, it is argued that the degree of environmental awareness of the society (EAS) and firm size are two factors moderating the effect of ISO 14001 on firm performance. A number of hypotheses are formulated and empirically tested on an international sample of 583 listed companies in 46 countries over the period of 2009–2018. The findings show that (i) ISO 14001 adoption contributes to reducing firm carbon emission intensity and increasing firm profitability; (ii) the impact of ISO14001 on profitability is greater for companies from countries with high EAS and for larger firms; and (iii) the impact of ISO 14001 on carbon intensity is greater for headquartered in countries with low EAS. Managerial and policy implications resulting from the widespread adoption of certifiable environmental standards are also discussed.