• Valuing brands under royalty relief methodology according to international accounting and valuation standards

  G. Rubio, C. Manuel, F. Pérez-Hernández

  European Journal of Management and Business Economics (2017). Vol. 25

  
  

  Abstract

  The aim of this paper is to introduce a statistical procedure to value a brand by means of which firms may be able to determine the level of implicit royalty that they would charge for the use of their brand, applying multivariate techniques from market references. The study has been based on a statistical contrast of the royalties paid in Spanish franchises belonging to three different industries: food, health and beauty and fashion. Each industry has been segmented using cluster techniques, and then, through linear discriminating analysis, a model is proposed to explain the royalty paid according to certain economic figures of the companies. The implicit impartiality in the development of the model means that it could be generally accepted by analysts, consultants and companies who need to determine the value of a brand.

  Abstract
  The aim of this paper is to introduce a statistical procedure to value a brand by means of which firms may be able to determine the level of implicit royalty that they would [...]

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• Extrinsic and intrinsic factors in the Balanced Scorecard adoption: An empirical study in Portuguese organizations

  P. Quesado, B. Aibar-Guzmán, L. Rodrigues

  European Journal of Management and Business Economics (2017). Vol. 25

  
  

  Abstract

  In this article we aim to analyze the relationship between a set of organizational extrinsic and intrinsic factors and the adoption of the Balanced Scorecard (BSC) by privately-owned Portuguese organizations (large companies and small and medium enterprises). These factors are related to companies age, the diversity of products and services, the nature of the ownership structure, the internationalization, and the organizational size. As a primary means of data collection was carried out a postal survey through a questionnaire sent to 549 privately-owned Portuguese organizations, with an overall response rate of 28.2%. The results indicate that the degree of diversity of the products/services of the organization, the ownership of foreign groups, and the organizational size are positively associated with the implementation of the BSC. Thus, we conclude that the BSC increases with the degree of diversity of the products/services of the organization, that the Portuguese organizations that use the BSC are mainly owned by foreign groups; and larger organizations are most likely to use this tool.

  Abstract
  In this article we aim to analyze the relationship between a set of organizational extrinsic and intrinsic factors and the adoption of the Balanced Scorecard (BSC) by privately-owned [...]

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• Social enterprise: Gender gap and economic development

  C. Nicolás, A. Rubio

  European Journal of Management and Business Economics (2017). Vol. 25

  
  

  Abstract

  Companies created by women represent a substantial part of entrepreneurship. While men outnumber women in entrepreneurship rates, the gender gap decreases in the case of social enterprises. This may be explained by the fact that roles and stereotypes that influence womens behavior will lead to significantly identify with the values promulgated by social enterprises. This greater involvement in social activities leads women to become an essential player for promoting such needed initiatives given the impossibility for public institutions to address all social problems. Therefore in this paper, firstly, we study the gender gap in social and commercial entrepreneurship, distinguishing between enterprises with less than 42 months of activity and those consolidated in the market. Secondly, and aware of the variability of data between countries, a study is conducted using a sample of 48 countries grouped according to their level of development. The results confirm what is stated in the literature, the gender gap is reduced in the case of social entrepreneurship and it is also shown that female participation in social enterprises is influenced by the level of development of the country. These results lead us to highlight the importance of variables such as culture or social norms when explaining female behavior.

  Abstract
  Companies created by women represent a substantial part of entrepreneurship. While men outnumber women in entrepreneurship rates, the gender gap decreases in the case of social [...]

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• Knowledge acquisition for SMEs first entering developing economies: Evidence from Senegal

  S. Suárez-Ortega, A. García-Cabrera, G. Knight

  European Journal of Management and Business Economics (2016). Vol. 25

  
  

  Abstract

  As developing economies have weak institutional environments, and these are highly distant from SMEs’ home conditions in developed economies, those firms entering into developing economies should acquire new knowledge resources for a successful entry. In this paper, we analyze the type of knowledge required by SMEs to enter a foreign market, the alternative sources for acquiring that knowledge, and the specific challenges associated with the case of SMEs from developed economies in their first entry in developing economies. In our empirical work, we examined the specific case of Spanish SMEs entering Senegal as a first incursion in developing economies. This work shows evidence of usefulness to contribute to literature. Specifically, we found that the key knowledge is that which is specific to the target market, rather than the general knowledge about internationalization. In addition, we provide a matrix that summarizes the most appropriate sources to acquire each type of knowledge in the light of the main challenges identified: myopic managerial thinking, inflexible managers, absence of a culture of cooperation, and relevant knowledge embedded in local networks of the host market.

  Abstract
  As developing economies have weak institutional environments, and these are highly distant from SMEs’ home conditions in developed economies, those firms entering into developing [...]

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• How does the online service level influence consumers’ purchase intentions before a transaction? A formative approach

  I. Küster, N. Vila, P. Canales

  European Journal of Management and Business Economics (2016). Vol. 25

  
  

  Abstract

  The present paper tries to study the impact of online services level in contexts where transactions have not been done yet, through the adoption of a formative approach. In this scene, the present research considers two main dimensions of online services (pre-purchase services and transaction-related services) in a context of clothing purchasing process. Before defining the research and determining the sector to be analyzed, 7 focus groups were conducted. From the obtained conclusions, this study was carried on in the textile sector. A survey with 370 effective respondents was carried out. To measure the different concepts in the model, several scales were used based on literature proposals. Our model was estimated through partial least squares with SmartPLS (Ringle, Wende, & Will, 2005). Empirical findings provide that both transactions related services and pre-purchase services are determinants of the navigation experience. At the same time, navigation experiences affect attitude to the web, which affects purchase intention. All of this in the SME clothing e-retailing industry.

  Abstract
  The present paper tries to study the impact of online services level in contexts where transactions have not been done yet, through the adoption of a formative approach. In [...]

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• Determinants of the expenditure done by attendees at a sporting event: The case of World Padel Tour

  H. Jiménez-Naranjo, J. Coca-Pérez, M. Gutiérrez-Fernández, A. Fernández-Portillo

  European Journal of Management and Business Economics (2016). Vol. 25

  
  

  Abstract

  The influx of people attending sport events involves creating wealth in the environment where they are held. To understand the impacts of these events on the host community, it is necessary to analyze the main explanatory variables in relation to models of buying behavior in tourism, so as to know which variables are the ones that affect most the expenditure done by attendees at a sport event. Therefore, the objective of our research is to present a model to evaluate the influence that certain variables related to the model of consumer behavior have on the expenditure. For that, the variables have been grouped into those related to the personal characteristics of the attendee, and into those others of subjective nature related to the perceptions of those attending a sport event. The research has been based on the use of Structural Equation Models using the technique of Partial Least Square (PLS). The sport event that has been analyzed is the Padel tournament “Cáceres International Open”. The proposed model shows significant results to support the relationships contained in the hypotheses, and provides positive data regarding the predictive relevance of the model.

  Abstract
  The influx of people attending sport events involves creating wealth in the environment where they are held. To understand the impacts of these events on the host community, [...]

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• Statistical and cognitive optimization of experimental designs in conjoint analysis

  R. Huertas-García, A. Nuñez-Carballosa, P. Miravitlles

  European Journal of Management and Business Economics (2016). Vol. 25

  
  

  Abstract

  Conjoint analysis has become the most used technique for measuring preferences for new products to be launched in the market. Experimental design models are key elements for its use in market research. Such models involve a matrix in which attributes and levels are combined, making product concepts that respondents then evaluate. Experimental design has emerged as a key element in conjoint analysis’ success because its application generates statistical and reliability implications for part-worth factor estimations and for the type of heuristics followed by respondents. This paper proposes a conceptualization of both statistical and cognitive efficiency criteria for experimental designs. A review of the most used statistical optimization criteria is presented, as well as a methodology for optimizing cognitive efficiency. Finally, we suggest a dynamic algorithm for optimizing the objective function in a sequential manner.

  Abstract
  Conjoint analysis has become the most used technique for measuring preferences for new products to be launched in the market. Experimental design models are key elements for [...]

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• The Colombian pharmaceutical industry: Factors affecting export

  D. Barbosa, A. Ayala, A. Sandoval

  European Journal of Management and Business Economics (2017). Vol. 25

  
  

  Abstract

  In recent years, companies in the pharmaceutical industry have been confronted with a turbulent environment characterized by dynamism, complexity and uncertainty. To cope with these changes and achieve improved performance, these companies must generate the ability to make appropriate changes in their organizations. For that reason, we use a quantitative methodology linear regression model to investigate the multilevel resources, capacities and institutional aspects that influence the level of exports of companies in Colombias pharmaceutical sector. The main findings that are highlighted include the significant role of the variables of supply costs, logistics, preview experience and the institutional environment in improving exports in the sector.

  Abstract
  In recent years, companies in the pharmaceutical industry have been confronted with a turbulent environment characterized by dynamism, complexity and uncertainty. To cope [...]

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• Taxation of capital gains and Lock-in effect in the Spanish Dual Income Tax

  C. Caro, E. Cebada

  European Journal of Management and Business Economics (2016). Vol. 25

  
  

  Abstract

  The aim of this paper is to study the possible change in the individual behaviour of the Spanish taxpayers about the willingness to declare capital gains, Lock-in effect, as a consequence of variations in the marginal rate. To do this, a two stages model is proposed to analyze which variables affect both the probability, and the amount, of capital gains declarations. The empirical analysis was performed using the Spanish annual personal income tax return sample from IEF-AEAT (Institute of Fiscal Studies and the Tax Department) for the periods 2006 and 2007, corresponding to the years before and after the reform that introduced a Dual Income Tax in Spain, with a flat tax rate for capital gains tax. The main results show that a 1% increase in the capital gains tax rate reduces the probability of declaring capital gains by around 7.51% (2006) and 8.19% (2007), and the amount of capital gains by around 3.91% (2006) and 5.79% (2007).

  Abstract
  The aim of this paper is to study the possible change in the individual behaviour of the Spanish taxpayers about the willingness to declare capital gains, Lock-in effect, [...]

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• Research in entrepreneurship using GEM data. Approach to the state of affairs in gender studies

  M. Sánchez-Escobedo, A. Fernández-Portillo, J. Díaz-Casero, R. Hernández-Mogollón

  European Journal of Management and Business Economics (2016). Vol. 25

  
  

  Abstract

  This paper analyzes the situation and development of research in “entrepreneurship” from a gender perspective that has used data from the Global Entrepreneurship Monitor (GEM) in the period from 1999 to 2015 in the journals of entrepreneurship included in the Web of Science (WOS). For this purpose, a blibliometric analysis was carried out, which identified the life-cycles of GEM and GEM/gender research, the topics, level of analysis, journals, articles, the most productive authors, the most active countries and institutions and the most used statistical techniques of analysis and data. The main findings of the study show that research on GEM has advanced in recent years; however from a gender perspective by using GEM data, it is in the initial phase, requiring more researchers to be involved, filling the gaps related to topics, macro analysis, or the use of GEM data at both global and regional level.

  Abstract
  This paper analyzes the situation and development of research in “entrepreneurship” from a gender perspective that has used data from the Global Entrepreneurship Monitor [...]

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• Corporate governance ratings on listed companies: An institutional perspective in Latin America

  G. Briano-Turrent, L. Rodríguez-Ariza

  European Journal of Management and Business Economics (2017). Vol. 25

  
  

  Abstract

  The aim of this paper is to analyse whether institutional factors determine the level of corporate governance compliance among major listed companies in emerging markets of Latin America, a region characterized by a poor legal system, highly concentrated ownership structures, and capital markets relatively less developed. The paper used an unbalanced panel data consisting of 826 observations of the highest ranked companies on the stock exchange indices of Argentina, Brazil, Chile and Mexico during the period 2004–2010. The results provide strong empirical evidence that board independence, ownership concentration and stakeholder orientation affect positively corporate governance ratings, while board size decreases corporate governance compliance in Latin American countries. The study fills a gap in the Latin American literature, providing useful information for determining policies on corporate governance and, in general, for managers and investors of listed companies in Latin America.

  Abstract
  The aim of this paper is to analyse whether institutional factors determine the level of corporate governance compliance among major listed companies in emerging markets of [...]

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• Return on capital in Spanish tourism businesses: A comparative analysis of family vs non-family businesses

  C. Camisón, B. Forés, A. Puig-Denia

  European Journal of Management and Business Economics (2016). Vol. 25

  
  

  Abstract

  The analysis of the keys to competitiveness in the tourism sector has an unquestionable justification for its importance in the Spanish economy and its global growth prospects. The need for a better understanding of the keys to the competitiveness of the tourism firm is also fuelled by the magnitude of the challenges that it faces and by the sector structure, characterised by a notable weight of family-owned businesses. The objective of this research lies precisely in developing a diagnosis of the return on capital of the tourism sector and the determinants of its evolution in the family business (FB) vs non-family business (NFB). Specifically, this study focuses on the analysis of both firms economic and financial profitability. The objective indicators of the results can come either from the company itself or from two secondary sources: SABI (Iberian Balance Sheet Analysis System) and INFORMA D&B. The economic and financial analysis of the Spanish tourism firm with objective data developed in this study is based on a sample of 738 firms (from an initial sample of 1019 organisations).

  Abstract
  The analysis of the keys to competitiveness in the tourism sector has an unquestionable justification for its importance in the Spanish economy and its global growth prospects. [...]

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• The integration of CSR management systems and their influence on the performance of technology companies

  J. Bernal-Conesa, A. Briones-Peñalver, C. Nieves-Nieto

  European Journal of Management and Business Economics (2016). Vol. 25

  
  

  Abstract

  This paper proposes a model in order to analyze whether standardized management systems facilitate the implementation and integration of CSR within the technology company, studying which is the influence of CSR in reputation and improvement of these companies and whether it has a positive impact on the economic performance of the company. The study was conducted in companies located in Spanish Science and Technology Parks. On the one hand, model results shows that there is a positive, direct and statistically significant relationship between the integration of CSR and reputation; on the other hand, performance and internal improvement has also this relationship. Likewise, the model shows also some indirect relations between management system before the implementation of CSR and reputation and internal improvement.

  Abstract
  This paper proposes a model in order to analyze whether standardized management systems facilitate the implementation and integration of CSR within the technology company, [...]

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• Hedging foreign exchange rate risk: Multi-currency diversification

  S. Álvarez-Díez, E. Alfaro-Cid, M. Fernández-Blanco

  European Journal of Management and Business Economics (2016). Vol. 25

  
  

  Abstract

  This article proposes a multi-currency cross-hedging strategy that minimizes the exchange risk. The use of derivatives in small and medium-sized enterprises (SMEs) is not common but, despite its complexity, can be interesting for those with international activities. In particular, the reduction in the exchange risk borne through the use of natural multi-currency cross-hedging is measured, considering Conditional Value-at-Risk (CVaR) and Value-at-Risk (VaR) for measuring market risk instead of the variance. CVaR is minimized using linear programmes, while a multiobjective genetic algorithm is designed for minimizing VaR, considering two scenarios for each currency. The results obtained show that the optimal hedge strategy that minimizes VaR is different from the minimum CVaR hedge strategy. A very interesting point is that, just by investing in other currencies, a significant risk reduction in VaR and CVaR can be obtained.

  Abstract
  This article proposes a multi-currency cross-hedging strategy that minimizes the exchange risk. The use of derivatives in small and medium-sized enterprises (SMEs) is not [...]

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• Marketing mix effects on private labels brand equity

  C. Abril, B. Rodriguez-Cánovas

  European Journal of Management and Business Economics (2016). Vol. 25

  
  

  Abstract

  The present study explores some marketing mix effects on private labels brand equity creation. The research aims to study the effect of some elements under retailers direct control such as in-store communications, in-store promotions and distribution intensity as well as other general marketing mix levers such as advertising, perceived price, and monetary promotions. The results indicate that the most efficient marketing mix tools for private label brand equity creation are private labels in-store communications, private labels distribution intensity and the perceived price. These results highlight the importance of the store as a key driver for the private labels brand equity creation. As opposed to manufacturer brands we find no effect of advertising on the private labels brand equity and an opposite effect of the perceived price. This study is a pioneering contribution in the domain of private labels brand equity research exploring a more comprehensive and in-store specific set of marketing mix initiatives as sources of brand equity. The results suggest important implications for retailers when managing their own brands.

  Abstract
  The present study explores some marketing mix effects on private labels brand equity creation. The research aims to study the effect of some elements under retailers direct [...]

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Online first articles (not assigned to a volume)