This paper aims to study international differences in accounting conservatism, excluding the effect ofearnings management practices across three European countries (France, Germany and United Kingdom).These countries not only belong to different accounting regulatory regimes but also present...

This paper analyses whether the impact of European shocks in the Spanisheconomy has increased after the entry of Spain in the European Community. UsingVAR models, we try to disentangle whether the change in the importance of Europe isdue to a change in the size of the shocks or in the...

This paper analyzes the relationship between the dividend and debt policies, firm risk and the director’s ownership. Firstly, the results show that the payment of dividends reduces the risk and the leverage, and increases the ownership. Secondly, the firm risk presents a negative effect on the...

The study focuses on the analysis of market orientation and its effects on two of the most significant sectors in the Valencian Community: the ceramics sector and the tourism sector. Particularly, there arises the need for companies in these sectors to adopt market orientation as a management...

This paper treats of a public investment project in an important area named themediterranean arc. Specifically, it is dedicated to design and value an expansion projectof a shipping port. The valuation methodology is based on the contingent claimsanalysis, using equilibrium arguments. This...

The paper examines the origin of the differences in the wage distribution between native-born and immigrant workers in the Spanish labour market, paying special attention to the effect of immigrant segregation into low-paying occupations and firms. Our evidence reveals that immigrants from...

This paper analyzes the relationship between human capital and convergence with a model that takes into account the different effects of human capital accumulation on regional convergence. As an input, human capital produces convergence due to both decreasing returns and public intervention on...

As a result of the publication of the Code of Corporate Good Governance in 1998, known as the Olivencia Code, some companies voluntarily created an audit committee, after the recommendation of the Code in which all companies, especially listed, were encouraged to create them. Therefore, the aim...

Although traditional immunization offers protection against parallel movements of theterm structure of interest rates (TSIR) exclusively, numerous studies have shown that thisstrategy offers near perfect immunization at an empirical level. This work reveals some of thefactors that justify this...

In view of the limited interest that external users have in financial reporting by local governments, the harmonization of their accounting standards will depend on the international convergence of their information requests for management. In that sense, this paper contributes to analyze...