Most companies in the world are owned by families, and a majority of them are registered in countries where the legal protection of minority shareholders is weak. Is family control the consequence of the lack of investor protection? It is known that agency problems among owners actually increase...

Competitiveness is an often ill-defined concept that is key to economic success. This paper focuses on the links between competitiveness and the employment relationship. It ranks European countries by their specialization in high-technology, skilled labor sectors to yield a competitiveness...

The strategic process in operations (SPO) is influenced by the increasing environmental dynamism in the marketplace. Considering organizational knowledge as the support of the whole strategic process, managers may choose their objectives based on previous experiences. Manufacturing strategic...

Reflecting on the question of who is the principal subject of social responsibility in the business sphere, Greenfield sets out a number of common assumptions among practitioners in the field and tries to dismantle them through a critical review of recent literature. Some of his reflections need...

Our study examines to what extent female and male entrepreneurs differ in the way they perceive and assess entrepreneurial success, measured by extrinsic or intrinsic dimensions. Our results indicate a number of similarities between men and women entrepreneurs but also reveal interesting...

From a reactive, antagonistic stance towards environmental regulations, many firms have evolved to act in a pro-active fashion to integrate environmental issues into their core strategies. Using measures of different corporate governance instruments that proxy for the ability of managers or...

We use the GRASP procedure to select a subset of financial ratios that are then used to estimate a model of logistic regression to anticipate financial distress on a sample of Spanish firms. The algorithm we suggest is designed "ad-hoc" for this type of variables. Reducing dimensionality has...

More than thirty years of research exploring the link between corporate social responsibility (CSR) and corporate financial performance (CFP) could not provide a satisfying resolution to the tension exists between economic and social objectives. In this paper, we have contributed to the existing...

(WP 10/03 Clave pdf) We show that when the thresholds and the polychoric correlation are estimated in two stages, neither Pearson´s X² nor the likelihood ratio G² goodness of fit test statistics are asymptotically chi-square.We propose a new test statistic, Mn, that is asymptotically...

Internet telephony (VOIP) has the potential to transform the world of voice communications more profoundly than anything since the invention of the telephone itself. As telecommunications incumbents and a range of new entrants begin rolling out commercial VOIP services, policymakers around the...