In this article we analyze the remuneration mechanism for the reduction of energy losses, through a dynamic principal-agent model in continuous time. The agent represents the power distribution company, which makes investments, or in other words, makes an effort to reduce energy losses. The...

In this article we analyze the remuneration mechanism for the reduction of energy losses, through a dynamic principal-agent model in continuous time. The agent represents the power distribution company, which makes investments, or in other words, makes an effort to reduce energy losses. The...

In this study we analyse the effect of stock splits on stocks¿ trading activity using intraday data from a sample of 46 stock splits from the Spanish stock market. In particular, we study changes to trading activity, trading composition, the information asymmetry of stocks, the distribution of...

This paper examines the empirical behaviour of stock prices around the ex dates of stock splits in order to detect anomalous returns. Also, it is investigated the determinant factors of the split size, its effects on the liquidity and the influence of the market microstructure in the abnormal...

This paper discusses the economic crises in Spain, from the Great Depression to current recession. Institutional economics offers the theoretical framework for identifying and analyzing the institutions and the rules of the game that have triggered or aggravated the economic crises. This work...

The collapse of previously existing socialism was due to causes embedded in its economic mechanism, which are not inherent in all possible socialisms. The article argues that Marxist economic theory, in conjunction with information technology, provides the basis on which a viable socialist...

The purpose of this work is to contribute to a critical analysis of what has been called 21st century socialism. Socialist regimes of the 20th century distorted the theoretical Marxian economic model partly because of the impossibility of socialist economic calculation. Allin Cottrell and Paul...

Spanish Abstract: Este artículo evalúa la consistencia teórica y metodológica del nuevo argumento austriaco contra la posibilidad del cálculo económico en el socialismo desarrollado por la nueva generación de autores austriacos. Primero describe la evo-lución de la crítica austriaca al...

This paper analyzes the relationship between economic-financial ratios and thedecision of distributing interim dividends by Spanish firms. With that purpose, we takea sample of non-financial companies quoting in the Spanish Stock Market during theperiod from 1999 to 2001. We choose a...

Empirically, financialisation analysis can be addressed from either a macroeconomic or micr oeconomic perspective. In aggregate terms, the former implies observing the growing influence exerted by financial transactions, overly dominant financial markets and alterations to industrial economy...