The Relationship between Risk and Expected Return in Europe

Revised: 2006-07

Orientación estratégica, innovación y resultados en PYMES de nueva creación: el rol del marketing

[ES] A pesar del importante papel de las PYMES de nueva creación en el desarrollo económico, no tenemos constancia de trabajos que hayan abordado de manera simultánea el estudio de la relación entre tres orientaciones estratégicas clave como son la orientación emprendedora (OE), la orientación al mercado (OM) y la orientación al aprendizaje (OA) con la innovación y con el éxito de las PYMES de nueva creación. Los trabajos existentes en la actualidad son de carácter parcial, ya que se limitan a estudiar los efectos de sólo algunas de estas tres orientaciones estratégicas en los resultados de dichas empresas (Li y Atuahene-Gima, 2001; Renko et al., 2009).

Contribution of Resource-Based View and Entrepreneurial Orientation on Small Firm Growth

[EN] This research provides a useful framework for identifying a small firms’ propensity to engage in entrepreneurial orientation. We examine the impact of the Entrepreneurial Orientation (EO) as a main resource and capability on small firm’ growth. The growth seems to come out as an important demonstration of the entrepreneurial orientation of small firms (Davidsson, 1989; Green and Brown, 1997; Janney and Gregory, 2006). Thus, this research builds on prior conceptual research that suggests a positive integration between entrepreneurial orientation and resource-based view. In the first instance, the research will focus on reviewing literature in the emerging area of entrepreneurial orientation as it applies to growth oriented small firms and resource-based view of the firm. Secondly, an empirical study was developed based on a stratified sample of small firms of manufacturing industry. Data were submitted to a multivariate statistical analysis and a linear regression model was performed in order to predict the influence of the resources and capabilities on small firms’ growth. In this sense, we consider the construct growth as a dependent variable and the ones relates with resources and capabilities (entrepreneur resources, firm resources, networks and EO) as independent variables. The research results suggest a set of resources and capabilities that promote the growth of the small firms. Also, the EO seems to have a predictive value on growth. Explaining variables related with resources and capabilities and EO were identified as essential in growth oriented small firms. It was still possible to conclude that the entrepreneurial firms which grew seem to have resources and develop more capabilities and take advantage in the search for those competences. This attitude reflects on the EO of the firm. This study has important implication for both researchers and practitioners. It highlights the necessity of firms to develop superior EO of all their members and also to invest on better resources and consequently superior capabilities as a way of reaching higher levels of growth. While previous authors have attempted to analyse certain aspects of this process (linkage between entrepreneurial orientation and growth), this research developed a framework that combines these and others factors (resource-based view) pertinent to growth oriented small firms. The results support the necessity to identify explicative variables of multiple levels to explain the growth of small firms. The adoption of an entrepreneurial orientation as an indispensable variable to the growth oriented small firms seems pertinent.

Environmental judgment in early childhood and its relationship with the understanding of the concept of living beings

The evidence collected concerning the biocentric judgment that young children express when evaluating human actions on the environment leads some scholars to suggest that an essential understanding of the notion of living beings should appear earlier than previously believed. This research project aims to study that assumption. To this end, young children’s choice when they are put in situation of having to compare and choose the most negative option between environmentally harmful actions and the breaking of social conventions are examined. Afterwards, the results are categorized in relation to those obtained from the study of children’s grasp of the distinction between living beings and inanimate entities. The data is analysed according to the individuals’ age and overall, it suggests a lack of relationship between environmental judgment and the understanding of the concept of living beings. The final results are discussed in keeping with recent research in the field of moral development that underscores the role that unconscious emotional processing plays in the individual’s normative judgment.

The Sustainability of `Sustainable´ Energy Use: Historical Evidence on the Relationship between Economic Growth and Renewable Energy

20 p.

Análisis de la influencia de la orientación de las fibras metálicas en la resistencia de la matriz de hormigón de acuerdo al Ensayo Barcelona

[ES]El objetivo de este trabajo de fin de grado es analizar la influencia que tiene la cuantía y orientación de fibras metálicas presentes en el interior de probetas de hormigón autocompactante y cuyo objetivo es reforzar y aumentar la resistencia a tracción de este material. Se expondrán las propiedades que combina el HACRFA gracias a la autocompactación del hormigón y la inclusión de fibras en su interior y los beneficios que este nuevo material aporta. Por otro lado, se tratara de situar este estudio en un contexto, analizando a la vez cuál es el alcance y los objetivos más importantes que se han tenido en cuenta. A continuación, y a modo de complementación de su contexto, este trabajo tiene un estado del arte, en el que se mencionarán métodos y ensayos necesarios para llegar a un resultado que permita predecir cuál será la resistencia del material, y por tanto su tenacidad o capacidad de absorber energía, sin necesidad de emplear más que un método fácil y rápido, obviando el resto de ensayos destructivos utilizados en este trabajo. Para tal fin, se establece una metodología que, gracias a ensayos de laboratorio, permita establecer una relación entre el método sencillo que se ha mencionado, el método inductivo, y un resultado teórico de la tenacidad que presenta el HACRFA. Se observará cómo la desviación entre los ensayos experimentales y los resultados teóricos obtenidos es prácticamente nula, despreciando situaciones en las que se presenten comportamientos muy diferentes debido a fallos durante los ensayos.