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This paper aims to analyse the level of commitment with the SDGs of large Spanish companies based on the information published in their Non-Financial Statements and their letters from the chairman. To achieve this objective and identify potential explanatory factors, a balanced sample of 58 Spanish companies, 29 listed and 29 unlisted, in 2019 has been used. The results of this study evidence: i) the greater commitment with the SDGs of companies which are exposed in the stock markets and those which are larger; ii) the relevance of the diversity into the boards of directors, in order to integrate the largest and the widest number of interests as well as those values and principles which are intrinsically associated to women directors; and iii) the greater emphasis on those SDGs related to well-known issues by these organizations, thanks to their greater experience in non-financial reporting, publishing documents such as corporate social responsibility or sustainability reports. [ABSTRACT FROM AUTHOR]

This paper aims to present a bibliometric analysis of the literature on an entrepreneurial intention that considers different topics to enhance starting a business. Using the Core collection of the Web of Science, 1,549 papers are found from 1900 to December 2020 to be analyzed. The analysis is focused on documents, authors, journals, countries, and keywords to detect areas and trends in this field of study. Likewise, bibliographic couplings, co-citation, and co-occurrences are analyzed. Findings show that the field has started to grow since 2010; the most influential authors and universities are in Spain and Taiwan, such as the case of Liñan, Liang, Ip, and Moriano. [ABSTRACT FROM AUTHOR]

The main objective of this paper is to determine the influence of the family on the reputational transfer between the company and its manager. In the field of family businesses, the strong identification of the family with the company has led to the study of the relationship between corporate reputation and the level of family involvement. However, the mutual transfer of reputation between the family business and its manager has yet to be investigated. For this reason, the study also aims to contrast that the corporate reputation contributes to that of its manager, studying how the presence of a family in the management and/or control of the company affects this relationship. To this end, using the rankings published by the Spanish Corporate Reputation Monitor (MERCO) of the most reputable companies and leaders in Spain for the period 2001-2017, different econometric models have been formulated with panel data. The results obtained, with important practical implications, contribute to reputation research and, especially, to the literature on family businesses. In this sense, the results show not only that the family nature of the company gives a reputational advantage to the company and its leader, but also that the reputation of the family business managers is transferred to the corporate reputation in a shorter period of time than when the company does not share this nature. [ABSTRACT FROM AUTHOR]

This paper aims to identify potential explanatory variables of the entrepreneurial orientation and innovation capacity (EO-IC) of family enterprises (FEs) through a comparative study of family businesses in Spain and Latin America. The innovation literature reports a paradigm shift whereby the dynamic boost provided by corporate governance and productivity is playing an increasing role as a driver of EO-IC and sustainable competitive advantage. This issue acquires particular relevance in the case of family firms, where entrepreneurial and innovation capacities are characteristically hampered by socio-emotional and risk-aversion factors. We construct a panel of data on 182 large family enterprises (1,820 observations) domiciled in Argentina, Brazil, Chile, Colombia, Mexico, Peru, Uruguay and Spain, drawing on the Thomson Onebanker and ORBIS databases for the period 2008-2018. The results reveal the emergence of new explanatory variables for the structure of the family-firm EO-IC framework, some related to productivity; others more basically to corporate governance. They also show that, in Latin America, the use of business efficiency (productivity) factors in the planning and potentiation of EO-IC by family firms is hampered by the institutional (legal, regulatory, labour and educational) environment, where traditional factors such as firm size and ownership concentration are more relevant. In the Spanish case, however, the evidence points to a transition from traditional inputs towards business efficiency and productivity- related factors. [ABSTRACT FROM AUTHOR]

The number of university spin offs in the Spanish University System have increased in the last years. However, these companies still have to face financial and organizational problems, like the lack of management abilities of their founder members. Based on a panel of 72 spin offs created in Spain in the last decade, this paper analyzes the main problems of these companies, and proposes financial and organizational tools to solve some of them. As a result of this previous research, we describe, on the one hand, a series of applied initiatives in organizational design and human resources policies. On the other hand,from afinancial perspective, we propose the use of venture capital resource as potential financial instrument. This paper contributes to increase the data frame of university spin offs in Spain, and proposes new approaches to support the management abilities of entrepreneurs, through the proposal of applied organizational and financial tools. [ABSTRACT FROM AUTHOR]

Many works have analyzed franchising and identified the major research lines regarding the scientific works published until that moment (Elango and Fried, 1997; Díez de Castro and Rondán, 2004). The present paper tries to follow this process. Moreover, it is identified the theories used by researchers to study franchising -agency theory, resource scarcity theory, risk extension theory, contractual theory, transaction cost theory, as well as signaling theory-, and explained its contributions to the literature. Subsequently, four research lines are highlighted in conjunction with main literature about the topic, and emphasized those studies developed by Spanish researchers under the form of papers, conference proceedings, books, book's chapters, as well as dissertations. In doing so, we attempt to offer a whole vision about franchising literature from the 60s up to date. [ABSTRACT FROM AUTHOR]

This study examines the evolution of budgeting practices in the extremely difficult Spanish economic environment. In order to analyse if companies are still maintaining their budgeting process and if, right now, they are facing more difficulties in forecasting accurate indicators, two similar web surveys were addressed over two periods of time, firstly in 2008 at the beginning of the financial crisis, and secondly in 2013 after five years of a downward trend. In addition, in-depth interviews were conducted to investigate how companies brought more flexibility to their budgeting process in order to cope with environmental uncertainty. The survey indicates that 97% of respondents are still using a traditional budgeting process being this result similar to the one found in 2008. However, 2013 showed that the reliance on forecasted information is being increasingly questioned. Furthermore the study revealed that the respondents are bringing more flexibility to their processes, being able to modify the objectives once the budget is approved and to obtain new resources outside the budgeting process. This paper contributes to revealing information about difficulties in setting reliable objectives in a turbulent environment and provides data about the evolution of budgeting practices over five years during an austere economic crisis. [ABSTRACT FROM AUTHOR]

The objective of this paper is to analyze the incubation strategies developed in the universities of Andalusia, a relatively low-income region of Spain, to promote the creation of university spin-offs. These strategies are also compared to the incubation models noted in the literature. The performance of the university spin-offs created and its relation to the incubation strategies developed by the university are also analysed. The analysis is based on data from a survey of nine public universities that carry out strategies for the promotion of university spin-offs. The result of the analysis shows that university spin-off incubation strategies in Andalusia present specific characteristics not covered by certain models that are well-known in the literature on innovation. Then, a new stage in the process of the university spin-off incubation is proposed. We consider it to be a pre-strategic stage to the academic spin-off incubation strategies. The analysis also finds certain environmental factors associated to those spin-offs promoted by Andalusian universities that achieve the highest level of performance. This result suggests that previous to making any decision involving investment into developing incubation strategies, universities should gauge whether they have sufficient resources and the possibilities of connecting with a Technology Park. [ABSTRACT FROM AUTHOR]

Debt issue credit ratings can lead to conflicts of interest as the issuer itself is entrusted with contracting and compensating the rating agency. Into the bargain, the credit rating agency may be involved in designing the issues that the same agency subsequently rates. Credit rating agencies thus could have incentives to rate issues advantageously. Given the economic importance of this issue, in this paper we have proposed to analyze this phenomenon, known as rating shopping in academic literature, for Spanish market securitization issues for the period of time comprehensive from January 1993 to December 2011. In sum 3,665 published ratings are been analysed, for an issued nominal amount of 791,090 million Euros. The results show an association between the credit rating agency contracted and the mean rating awarded. Significant differences are observed in the ratings associated to the contracting manager (or special purpose vehicle -SPV- manager firm), to the number of ratings or to the type of collateral. Furthermore, a pattern compatible with rating shopping was observed for some types of collateral: abnormally high market shares associated with certain agencies awarding unusually generous ratings. However, this phenomenon is not seen to be widespread on the rating market associated to Spanish securitization issues. [ABSTRACT FROM AUTHOR]

Corporate social responsibility (CSR) researchers focus on the performance of the firms indexed in their field, and they reach different conclusions. This paper analyses if there are differences in financial performance of companies considered as highly socially responsible (those that compose the Spanish sustainability index FTSE4Good IBEX) as well as other IBEX companies not included in that index. We theoretically examine the relationship between a Jinn responsible behaviour and its financial performance. We also make an empirical study to analyse this relationship. The results show that the differential aspects between both groups of companies are market risk variables and debts and size variables. [ABSTRACT FROM AUTHOR]

This paper supplies a measure of the degree of firm's innovation performance. This indicator summarizes the impact of technological innovation activities on products, processes and sustainability of the firms. The data set used in this study was drawn up from the 2006 Panel on Technological Innovation (PITEC). The research focuses on firms that carried out a technological innovation from 2004 to 2006. We also show a characterization of Spanish innovative firms using the proposed indicator. [ABSTRACT FROM AUTHOR]

Recent studies within the innovation systems perspective have not paid enough attention to the role that Vocational Training (VT) centres and technical workers can play in innovation processes. In this paper we review the recent international literature on the issue and present an exploratory case study carried out in the Northern Spanish region of Navarre, which has a high level of both industrial activity and VT education. The study is based on quantitative and qualitative evidence from industrial SMEs and VT agents. The different types of relationships between VT centres and SMEs are analysed: formal education, in-company work training, hiring of graduates, continuous training, and innovation-related services. Results show that firms have a highly positive perception of VT centres' more 'traditional' missions (graduate education and employability), but more advanced and innovation- related missions have a limited reach right now. [ABSTRACT FROM AUTHOR]

The 'country/region of origin is a traditionally used strategy by food companies in order to differenriate their production from each other. Is the origin an useful strategy? Does it lead to differentiate a company's offer? This paper aims to resolve these questions from a theoretical perspective. In addition, a descriptive analysis of Spanish Designation of Origin's ham sector is developed. Such sector comprises only six Designations, so an in-deep analysis of all aspects related to place of origin will be easier [ABSTRACT FROM AUTHOR]

In the current context of the so-called "Knowledge-based Economy" higher education institutions should give preferential attention to the new demands of stake holders information. The aim of this paper is to demonstrate the appropriateness of the universities incorporate information on intellectual capital in its current accounting information system. So, an empirical study has been designed to show the extent to which different accounting information users are demanding information on university intellectual capital for adequate decision making. To achieve this goal we designed a questionnaire that was sent to all members of the Social Councils in Spanish public universities. The results obtainedfrom this research show a list of the intangible elements on which universities should provide information in order to satisfy the changing information needs of its users. [ABSTRACT FROM AUTHOR]

In this paper we review the concept of corporate social responsibility. Subsequently we analyze the possibilities and problems of the use of benchmarking in CSR by analyzing the latest research that had developed a method of benchmarking. From this analysis we propose a homogeneous indicator that assesses 68 aspects related to the various stakeholders involved in CSR. It also provides information on the importance attached by respondents to these aspects. The results for each of the 5 sectors considered show the areas in which the work in CSR is greatest and others where improvement is needed. [ABSTRACT FROM AUTHOR]

Recent Spanish law and regulations have turned gender balance on Boards of Directors into a necessary element to manage in companies. The aim of this paper is to identify the stakeholders demanding such gender balance to companies, according to the Methodology of Mitchell et al. (1997) and Agle et al. (1999). The results sugest the shareholders are the most important group, so it seems that the financial goals continue being a priority. But we also observe that the Government is perceived as a very important stakeholder. Despite managers acknowledge the Government has a lot of power, its importance is explained by urgency and legitimacy attributes. This fact makes us doubting about the effectiveness of any development of a compulsory law, beyond the current one. [ABSTRACT FROM AUTHOR]

Based on an extensive theoretical review, the aim of this paper is to carry out a closer examination of the differences between exporters according to their commitment to the international market. Once the main disparities are identified by means of a non-parametric test, a logistic analysis based upon data collected from small and medium sized manufacturing firms is conducted in order to construct a classificatory model. [ABSTRACT FROM AUTHOR]

The construction sector has, in Spain, a remarkable importance, due to the contribution to GDP, around 10%, and employment (10%) and the wide business network it includes. The present economic situation and the residential market saturation have led to a sharp contraction in building activity, after a long period of growth. This is, therefore, a good time to perform a structural analysis to identify the determinants of profitability and assess the projection of the companies operating therein. This paper identifies the rules of competition and reasonable business expectations for coming years, using the Model of Five Competitive Forces. This analysis will show opportunities and difficulties for constructors as a tool in making decisions. The success of the strategy will depend on the management of strengths and capabilities, especially in times of change in the competitive environment. [ABSTRACT FROM AUTHOR]

Spain, like Italy, the traditional leader of granite sector, has seen how China, India or Brazil have risen several positions on global production and export rankings. In a globalized context, it's necessary a good differentiation from international competitors, much more when this is a generic product that offers suitable prices and quality. One way to identify and differentiate it, is providing value by creating a brand. In this paper we study the utility of a strategy based on made in for Galicia, major production location for the industry in Spain; an alternative that seems attractive to enterprises, but whose implementation requires strong collaboration between firms and public and private institutions. [ABSTRACT FROM AUTHOR]

Companies need to measure brand equity to make the best tactical and strategic decisions related to this intangible asset. Therefore, this paper develops a measure of brand equity using a formative approach. Unlike previous research, this study proposes a second-order formative model and empirically validates this in two countries, Spain and the United Kingdom. With this aim, in addition to carrying out an individual analysis for each country, the measurement invariance is assessed following the recent procedure suggested by Diamantopoulos and Papadopoulos (2010). Results show that brand equity construct is characterised by some variations in its composition in the countries analysed. [ABSTRACT FROM AUTHOR]

Rural innovation programs have been a real shock for certain European regions, because they have represented a huge investment that's needed for proper management to direct some structural funds. In this sense, this paper analyzes the investment of these programs in developing measures to support rural tourism sector, which marked a significant increase in supply at various levels: increasing rural accommodation, the number of beds available for tourists, rehabilitation of heritage, value and recovery of historical elements and the historical, cultural, architectural and natural countryside. The empirical analysis of this study is developed for the region of Castilla-La Mancha, using the latest information available investment under the Shift-share methodology, which identifies the different effects (global, structural and competitive) that these programmes have on these initiatives. [ABSTRACT FROM AUTHOR]

The pressure exerted by interest groups is one of the main reasons that have led organizations to introduce Environmental Management Systems. Research provides evidence on the existing relationship between Stakeholders' pressure and their influence on business environmental management. The aim of this paper is to analyze 142 Spanish business centers, holders of ISO 14000 and /or EMAS certificates, in order to empirically probe the relationship between different kind of stakeholders and environmental management. We found a significant and positive relationship between stakeholders and environmental management within organizations. Additionally, the analysis clarified the individual influence of stakeholders (normative, organizational and social) on different aspects of environmental management. According to our analysis, this influence varies depending on each type of stakeholder. [ABSTRACT FROM AUTHOR]