La sustituci¢n, a principios de los a¤os setenta, de un sistema de tipos de cambio fijos por otro basado en tipos de cambio flexibles, ha provocado que las empresas se enfrenten al riesgo de cambio surgido de la incertidumbre sobre los efectos que las fluctuaciones de los precios relativos de...

This paper analyses the relationship between environmental proactivity and business performance on a sample of 186 industrial companies. This relationship is approached by studying a bundle of relationships between different dimensions or manifestations of environmental proactivity and different...

El estudio de las caracter¡sticas de los mercados de valores ha tenido en los £ltimos a¤os un compa¤ero imprescindible en la metodolog¡a de eventos. La necesidad de medir la reacci¢n del mercado ante distintos acontecimientos econ¢micos y financieros genera la necesidad de contar con...

Partiendo del enfoque Agencia-Stewardship, este trabajo trata de estudiar la importancia de los altos directivos para la implantaci¢n de la Responsabilidad Social Corporativa (RSC). En concreto, se propone que el perfil directivo se relaciona con las pr cticas de RSC, y que dicha relaci¢n...

We identify the factors influencing the board composition of an international sample of commercial banks over the period 1996?2006. After considering the dual role of the board as monitor and advisor, our analysis shows that no one board composition is optimal for the banking industry and that...

A major characteristic of financial markets is information asymmetry. To combat its problems principals can use screening. That is, they can offer the clients a menu of contracts and infer their risk level from their choices. If the pattern of choices that clients with different risk level make...

This paper proposes to elect the days to pay accounts payable determinants and our findings strongly support that the accounts payable problematic is closely related to short term financial decisions with a positive and significative influence of firm?s profitability and size factors. The...

The sale of second-hand vehicles over the Internet is continuously growing not only in European countries but also in the Spanish market. The development of new information technologies allows dealers to extend their services globally, giving customers a wide range of options in the search for...

El alineamiento, o integraci¢n, de la funci¢n de compras con otras funciones ha sido se¤alado como fuente de buenos resultados, tanto desde el  mbito acad‚mico como empresarial. Sin embargo, los argumentos sobre los mecanismos en los que se basa esta relaci¢n son escasos y las...

This paper seeks to answer the question of which international development projects are outsourced from the public bureaucracies when the contractor is a non-profit organization (NGO). The transaction cost economics framework is used to analyze the reasons underlying the outsourcing decision by...