Now showing items 1-20 of 22

    • Bad company. The indirect effect of differences in corporate governance in the pension plan industry 

      Abinzano Guillén, María Isabel Upna Orcid; Muga Caperos, Luis Fernando Upna Orcid; Santamaría Aquilué, Rafael Upna Orcid (Elsevier, 2017)   Artículo / Artikulua  OpenAccess
      This paper analyses the role played by pension plan governance structure and how it impacts on plan fees and plan performance. The results clearly show that fees decrease significantly and performance improves when pension ...
    • Behavioral biases never walk alone: an empirical analysis of the effect of overconfidence on probabilities 

      Abinzano Guillén, María Isabel Upna Orcid; Muga Caperos, Luis Fernando Upna Orcid; Santamaría Aquilué, Rafael Upna Orcid (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 ...
    • Can tax regulations moderate revenue diversification and reduce financial distress in nonprofit organizations? 

      Abinzano Guillén, María Isabel Upna Orcid; López Arceiz, Francisco José Upna Orcid; Zabaleta Arregui, Idoia Upna Orcid (Wiley, 2022)   Artículo / Artikulua  OpenAccess
      As a result of policies to reduce public deficit, nonprofit organizations have been forced to turn to charitable donations in order to diversify their revenue structure and thus reduce their levels of financial distress. ...
    • Dimensión económica y dimensión social de la empresa social: ¿cómo influye la concreción de los fines fundacionales? 

      Abinzano Guillén, María Isabel Upna Orcid; González Álvarez, Karen; Zabaleta Arregui, Idoia Upna Orcid (Universidad Complutense de Madrid, 2023)   Artículo / Artikulua  OpenAccess
      Las empresas sociales fijan como objetivo primordial la consecución de impactos sociales garantizando al mismo tiempo la consecución de beneficios económicos y una adecuada gestión. Este enfoque tridimensional (económico, ...
    • Does default probability matter in Latin American emerging markets? 

      Abinzano Guillén, María Isabel Upna Orcid; Muga Caperos, Luis Fernando Upna Orcid; Santamaría Aquilué, Rafael Upna Orcid (Taylor & Francis, 2013)   Artículo / Artikulua  OpenAccess
      We analyse the impact of default probability in four leading Latin American stock markets (Argentina, Brazil, Chile and Mexico). We find no positive default risk premium except in the case of Brazil, and in fact find a ...
    • Does family ownership always reduce default risk? 

      Abinzano Guillén, María Isabel Upna Orcid; Corredor Casado, María Pilar Upna Orcid; Martínez García, Beatriz Upna Orcid (WileyAccounting and Finance Association of Australia and New Zealand, 2021)   Artículo / Artikulua  OpenAccess
      This paper analyses the effect of family ownership on the outcome of the firm’s risk‐taking activities, measured by the company’s default risk. We show that family ownership reduces the probability of default, which is ...
    • Duty calls: prediction of failure in reorganization processes 

      Abinzano Guillén, María Isabel Upna Orcid; Bonilla Acosta, Harold; Muga Caperos, Luis Fernando Upna Orcid (Emerald, 2023)   Artículo / Artikulua  OpenAccess
      Purpose – Using data from business reorganization processes under Act 1116 of 2006 in Colombia during the period 2008 to 2018, a model for predicting the success of these processes is proposed. The paper aims to validate ...
    • The effect of a switch of management company on pension plan fees 

      Abinzano Guillén, María Isabel Upna Orcid; Muga Caperos, Luis Fernando Upna Orcid; Santamaría Aquilué, Rafael Upna Orcid (Routledge, 2021)   Artículo / Artikulua  OpenAccess
      The impact of a switch of management company on pension plan fees is analysed by comparing the effects on employer-sponsored versus individual defined-contribution private pension plans in Spain. This framework is ideal ...
    • Enhancing learning in the finance classroom 

      Abinzano Guillén, María Isabel Upna Orcid; Corredor Casado, María Pilar Upna Orcid; Río Solano, María Cristina del Upna Orcid; Ferrer Zubiate, Elena Upna Orcid; González Urteaga, Ana Upna Orcid; Mansilla Fernández, José Manuel Upna Orcid; Martínez García, Beatriz Upna Orcid; Muga Caperos, Luis Fernando Upna Orcid (Universidad Politécnica de Valencia., 2022)   Contribución a congreso / Biltzarrerako ekarpena  OpenAccess
      This paper aims to describe a teaching-learning experience based on ProjectBased Learning (PBL). This experience is part of an educational innovation project devoted to transforming finance classes in various facets of ...
    • Game, set and match: the favorite long-shot bias in tennis betting exchanges 

      Abinzano Guillén, María Isabel Upna Orcid; Muga Caperos, Luis Fernando Upna Orcid; Santamaría Aquilué, Rafael Upna Orcid (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 ...
    • Hidden power of trading activity: the FLB in tennis betting exchanges 

      Abinzano Guillén, María Isabel Upna Orcid; Muga Caperos, Luis Fernando Upna Orcid; Santamaría Aquilué, Rafael Upna Orcid (SAGE Publications, 2017)   Artículo / Artikulua  OpenAccess
      This paper examines the impact of trading activity on the Favourite-Longshot Bias (FLB) in tennis Betting Exchanges, using direct measures such as betting volume, average bet and standard deviation of the odds. According ...
    • Is default risk the hidden factor in momentum returns? Some empirical results 

      Abinzano Guillén, María Isabel Upna Orcid; Muga Caperos, Luis Fernando Upna Orcid; Santamaría Aquilué, Rafael Upna Orcid (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, ...
    • Lagged accuracy in credit-risk measures 

      Abinzano Guillén, María Isabel Upna Orcid; González Urteaga, Ana Upna Orcid; Muga Caperos, Luis Fernando Upna Orcid; Sánchez Alegría, Santiago Upna Orcid (Elsevier, 2022)   Artículo / Artikulua
      This paper analyzes the magnitude (accuracy) and length (time) of the lag in the incorporation of new information in different measures of credit risk. The results, for US firms, show a lag for Altman’s Z accounting measure ...
    • Measuring credit risk in family firms 

      Abinzano Guillén, María Isabel Upna Orcid; Corredor Casado, María Pilar Upna Orcid; Martínez García, Beatriz Upna Orcid (SAGE, 2020)   Artículo / Artikulua  OpenAccess
      This article attempts to identify the default risk measure which best reflects the idiosyncratic context of public family firms. Seven accounting- and market-based measures are compared over a sample of 981 US family and ...
    • Performance of default-risk measures: the sample matters 

      Abinzano Guillén, María Isabel Upna Orcid; González Urteaga, Ana Upna Orcid; Muga Caperos, Luis Fernando Upna Orcid; Sánchez Alegría, Santiago Upna Orcid (Elsevier, 2020)   Artículo / Artikulua  OpenAccess
      This paper examines the predictive power of the main default-risk measures used by both academics and practitioners, including accounting measures, market-price-based measures and the credit rating. Given that some measures ...
    • Prediction of failure in reorganization agreements under Colombia's Corporate Insolvency Act 

      Abinzano Guillén, María Isabel Upna Orcid; Bonilla Acosta, Harold; Muga Caperos, Luis Fernando Upna Orcid (Emerald, 2023)   Artículo / Artikulua  OpenAccess
      Purpose – The aim of this paper is to provide an overview of the impact of the implementation of Colombian Corporate Insolvency Act 1116 of 2006 in the period 2008–2018 and to assess the relevance of a broad set of financial ...
    • Pricing levered warrants with dilution using observable variables 

      Abinzano Guillén, María Isabel Upna Orcid; Navas, Javier F. (Taylor & Francis, 2013)   Artículo / Artikulua  OpenAccess
      We propose a valuation framework for pricing European call warrants on the issuer's own stock that allows for debt in the issuer firm. In contrast to other works which also price warrants with dilution issued by levered ...
    • Régimen fiscal de las fundaciones navarras: efectos en la estructura de ingresos 

      Abinzano Guillén, María Isabel Upna Orcid; López Arceiz, Francisco José Upna Orcid; Zabaleta Arregui, Idoia Upna Orcid (AECA, 2021)   Contribución a congreso / Biltzarrerako ekarpena  OpenAccess
      El objetivo de este estudio es analizar el régimen fiscal especial para fundaciones contenido en la regulación tributaria de dos comunidades autónomas, Aragón y Navarra. En particular, se analizan los efectos de la regulación ...
    • The role of investor type in the fee structures of pension plans 

      Abinzano Guillén, María Isabel Upna Orcid; Muga Caperos, Luis Fernando Upna Orcid; Santamaría Aquilué, Rafael Upna Orcid (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 ...
    • The role of small bettors in price formation in betting exchanges 

      Abinzano Guillén, María Isabel Upna Orcid; Muga Caperos, Luis Fernando Upna Orcid; Santamaría Aquilué, Rafael Upna Orcid (Routledge, 2020)   Artículo / Artikulua  OpenAccess
      The presence of small bettors in betting exchanges generates mispricing, which can lead to exploitation by informed traders or result in permanent price deviations. This paper shows that mispricing from this source is also ...

      El Repositorio ha recibido la ayuda de la Fundación Española para la Ciencia y la Tecnología para la realización de actividades en el ámbito del fomento de la investigación científica de excelencia, en la Línea 2. Repositorios institucionales (convocatoria 2020-2021).
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