Suchergebnisse

El desarrollo de Internet a lo largo de las dos últimas décadas ha dado lugar a una nueva disciplina que permite estudiar la Web desde un punto de vista cuantitativo: la webmetría. La aplicación de técnicas webmétricas al estudio de empresas apunta a la posible existencia de relaciones entre el número de enlaces que recibe un sitio web corporativo y determinadas variables económico-financieras. La incipiente evidencia encontrada se limita, en todo caso, a empresas pertenecientes a sectores tecnológicos que, por su propia naturaleza, cuentan con una fuerte presencia en la Red. El presente trabajo, de carácter exploratorio, extiende el análisis a diversos sectores económicos de los Estados Unidos, confirmando la existencia de una relación significativa entre las variables expuestas. Esto abre nuevas posibilidades de investigación en el ámbito empresarial a partir del empleo de la información extraída de la estructura de enlaces de la Web.

A pesar de que el estudio de la empresa familiar tiene historia y cuenta con múltiples teorías como apoyo a la investigación, existe la necesidad de utilizar enfoques que permitan comprender mejor esta realidad, a partir de los miembros de la familia que la integran. Esta investigación hace una revisión sobre las teorías que pueden servir de fundamento al estudio de la empresa familiar y de la familia empresaria. Concluye con la presentación del Enfoque de Bienestar Subjetivo como nueva forma de estudio de la empresa familiar, pudiendo contribuir al enriquecimiento de otros conceptos al incluir en el análisis las emociones y enfocarse en los miembros de la familia empresaria.

A family identity of a firm, exhibited by the presence of the family name in the business name, can influence the value of economic profitability. The present analysis also explores if this relationship varies depending on the size and the generation running the business. The sample used to conduct this study comprises a panel data set of 21,149 Spanish family firms containing information from 2003 to 2015, which translates into a balanced database including 274,937 observations. For analysis purposes, the firms are classified into small, medium-sized and large ones. Contrary to the competitive advantages brought about by the family identity of the businesses highlighted by previous research, the current study suggests its negative effects on the profitability of small and medium-sized family firms. This effect is more acute when the company is managed by its founding generation. The findings in the case of large family firms indicate that the company name does not have an impact upon economic profitability.

This paper analyzes the possible differences in the economic-financial situation of family organizations based on the business dimension. Then, we focus our analysis on SMEs to analyse the influence of the dimension in their performance. For this, information belonging to a large sample composed of 21,149 family businesses and 5,737 non-family businesses in Spain corresponding to the period 2003–2015 is studied. The conclusions obtained show that, although the increase in the dimension of the family organizations is positively related to their performance, there are limits beyond which the value of certain economic-financial indicators can be negatively affected. This behavior is not observed in non-family businesses.

In the last decade, a growing number of organizations worldwide have started reporting on issues concerning their economic, social and environmental behaviour. However, public administrations show a delay in this regard although there is growing interest from citizens regarding sustainability transparency. This paper contributes to intra-country analyses of non-financial reporting in the public sector by studying transparency concerning sustainability in municipalities; it analyses the coherence between societal values, identified using Hofstede's cultural dimensions, and local governments' corporate social responsibility disclosures. We undertook a content analysis of 101 Colombian, Portuguese and Spanish local government websites and employed different graphical and statistical techniques to analyse the extent of disclosure and the relationship with societal expectations of transparency. The results showed several thematic differences between countries in disclosure preferences relating to societal cultural values of collectivism, femininity, tolerance and equity. Countries with equilibrium in all cultural values are more transparent; those with a prevalence of masculine and uncertainty avoidance cultural dimensions are particularly oriented to social perspectives and show a higher preference for strategic and economic information.

The objective of this research is to determine the extent and current characteristics of risk disclosure in Europe in the context of corporate non-financial reporting practices. A multivariate linear regression analysis on risk disclosure behaviour is performed on a sample of companies included in the EURO STOXX 50 Index, whose data were collected from their annual financial reports. Additionally, a first longitudinal exploration is carried out with respect to the GRI standard. It was possible to detect which risk items are more frequently reported by the selected corporations, and which corporate documents are most likely to contain relevant risk information. It was also possible to establish a link between specific industries, countries and company financial profiles and levels of risk disclosure. This empirical research is particularly relevant in the current scenario where several events converge: the gradual evolution, since 2017, of the NFRD (Non-Financial Reporting Directive) to a new Corporate Sustainability Reporting Directive (CSRD); the subsequent legal requirements for 2020 and 2021 of the ESEF (European Single Electronic Format) to support the disclosure of annual corporate reports; the pandemic and the new war scenario in Europe. This empirical work provides novel insights into risk disclosure and non-financial information in a particular setting, i.e., pre- and post-pandemic Europe, against a backdrop of growing concern about a new war scenario.

Antecedentes: desde la perspectiva de la teoría institucional, este artículo estudia la relación entre las habilidades de los directores generales pertenecientes a la familia y el desempeño financiero de las empresas familiares listadas en un entorno caracterizado por la debilidad de las instituciones formales.Metodología: la muestra se compone de empresas familiares no financieras listadas en la Bolsa Mexicana de Valores durante el periodo 2001−2014. El análisis econométrico utiliza modelos lineales para datos de panel estimados por mínimos cuadrados ordinarios (mco). Para tomar en cuenta la endogeneidad, las regresiones se corren con el método generalizado de momentos (mgm).Resultados: según los datos reunidos, se obtienen mejores resultados financieros con los directores generales externos que con los directores generales pertenecientes a la familia, a pesar de que sus habilidades, en términos de experiencia y formación académica, son similares. La relación inversa entre directores generales familiares y desempeño financiero es moderada cuando tienen una gran preparación académica en el área de negocios, lo que les permite adquirir las habilidades y la perspectiva amplia necesarias para lidiar con los más elevados costos de transacción y los mayores riesgos empresariales presentes en ambientes caracterizados por la fragilidad institucional en el plano formal, como es el caso en México.Conclusiones: en un contexto de debilidad institucional, invertir en educación superior en el área de negocios —de alta calidad y proporcionada en el propio país— es una buena estrategia a largo plazo para empresas familiares que quieran promover a un director general de la familia.

From the perspective of agency and socio-emotional theories, the family firm's innovation behavior differs from non-family companies. We investigate the relationship between the family element and Research and Development (R&D) investment, and how the moderating effect of the board composition affects this relationship. Using a panel data composed by 1,284 observations-year during the period 2004-2014 from Argentina, Brazil, Chile and Mexico, empirical results show that family firms increase R&D investment when the moderating effect of the board composition is included. For instance, larger boards, the independence of the board, the COB-CEO duality and female directors motivates to a higher R&D and capital expenditures. These results confirm that board composition constitutes a monitoring mechanism of family members' actions, which leads to an increase of innovation strategies and suggest that family firms promote a long-term orientation with the purpose of preserving the wealth for next generations. This research contributes to the international literature analyzing a region not explored before and characterized by a weak institutional framework and lower rates on R&D investment compared to other emerging countries.

Purpose– The purpose of this paper is to draw from an adapted model of the Theory of Planned Behaviour and from existing models of entrepreneurial intention (EI) to analyse the role of gender on academics' perceptions concerning the commercialisation of their research results. In particular, the authors explore differences in perceptions arising from diverse cognitions, such as attitudes towards entrepreneurial activities, the influence of close social groups and opportunity recognition self-efficacy.Design/methodology/approach– A questionnaire was addressed to 500 Spanish academics who have headed research projects with public funding in technology-related areas, and the results were subjected to multigroup structural equation analysis (LISREL) to determine the extent and nature of the differences within this group.Findings– The results obtained show that the influence of close social groups is perceived differently by men and women, particularly as regards the support received for academics' attitudes and perceptions of control over the development of EI.Practical implications– The aim is to better understand the world facing academics and the influences on their intention to commercialise research outcomes. An understanding of these issues offers the opportunity to design appropriate government interventions to assist academic entrepreneurs undertaking a business venture.Originality/value– This paper considers an under-researched area that of female entrepreneurship in academia, traditionally considered a male-dominated activity. Helpful information is provided on gender differences in the academic context.