The analysis of bank accounting ratios as indicators of competitiveness has been complemented and occasionally revised by the increasing use of more sophisticated indices ofefficiency. In recent years, over a hundred studies have analysed the efficiency of financial institutions, concentrating...

Immigrants have increased their participation in Spanish labour supply from less than 3 percent in 1996 to more than 13 percent in 2005. Using the factor proportion model of production, this paper analyses whether this labour supply shock has affected the industrial structure of Spanish regions....

This paper analyses the debt maturity structure of the small and middle sizedfirms using the trade-off reward risk associated to the use of short-term loans.Therefore, a sample of 11.533 small and middle Spanish manufacturing firms from year1997 through 2001 was used. The results of our study...

The "traditional" approach to the estimation of count panel data models with fixed effects is the conditional maximum-likelihood estimator. The pseudo maximum-likelihood principle can be used in these models to obtain orthogonality conditions that generate a robust estimator. However, this...

The aim of this paper is to analyse the disclosure activity in press around a labor event, for the companies quoted on Spanish continuous market and the reaction of stock prices of those firms affected by such events. The previous period to the signature of a firm level collective agreement...

This study examines the reactions of the Spanish capital market and financial analysts to CEO presentations organized by the Spanish Society of Financial Analysts. The sample contains 156 presentations that took place during the period 1994-2000. To estimate the effect of these meetings -on...

El método generalizado de los momentos es una técnica de estimación muy general, que permite interpretar la mayor parte de los métodos de estimación conocidos 'como casos particulares, incluido el de máxima verosimilitud bajo ciertas condiciones. Además, este procedimiento permite...

The decision of one of two competitors on a line to open a new plant is analysed. Three levels of interdependence -or independence- between the already existing firm and the new plant are studied: complete independence, joint decision making with respect to the location of the new plant only and...

This paper examines the effect of the Ibex35 index revisions on the price andtrading activity of a sample of 26 additions and 22 deletions during the period January 1991-December 1998. The results shows that Ibex35 revisions raise (reduce) the price of the additions (deletions) especially in the...

The aim of this paper is to study which are the main determinants of the transition rate probability of leaving the education system and enter into different labour market states. Here, we made an analysis of several controversial terminological aspects of the concepts used to define the more...