A predictive model of the export behaviour of small and medium sized firms: an application to the case of Castilla-La Mancha

[EN] 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.

Is it possible to measure social entrepreneurship in firms?

[EN] This study defines and proposes a measurement scale for social entrepreneurship (SE) in its broadest sense. The broad definition of SE covers for-profit firms that use social aims as a core component of their strategy. By pursuing social aims, these firms can boost the value of their products or services for consumers or exploit new business areas. Under this broad definition of SE, profit-seeking and the pursuit of social aims converge, thereby revealing a form of SE that has received little attention in either theoretical or empirical research. To fill this research gap, the present study proposes a measurement scale to measure broad SE in firms. The process used to build the scale draws upon research by Churchill (1979) and DeVellis (1991) and combines the Delphi technique, a pre-test questionnaire and structural equation modelling. The main aim of this research is to develop a scale capable of measuring broad SE in firms. The theoretical basis for the scale is supported by an empirical study in the hotel sector. The scale provides a valid, reliable instrument for measuring broad SE in firms. The scale meets all sociometric properties required of measurement scales in the social sciences, namely dimensionality, reliability and validity.

Mas-Colell, Whinston and Green Versus Scitovsky on Profit and Utility Maximization

I contrast the theoretical foundation of profit maximization of Mas-Colell, Whinston and Green’s “Microeconomics” against that provided by Scitovsky in a paper of 1943. Whereas Mas-Colell, Whinston and Green try to show that profit maximization can be derived from utility maximization, Scitovsky categorically states the contrary view. I argue, first, that the foundation provided by Mas-Colell, Whinston and Green is not sound and, secondly, that Scitovsky’s line of reasoning opens a better way to model business behavior.

Choice of Flexible Production Technologies Under Strategic Delegation

This work analyzes a managerial delegation model in which firms can choose between a flexible production technology which allows them to produce two different products and a dedicated production technology which limits production to only one product. We analyze whether the incentives to adopt the flexible technology are smaller or greater in a managerial delegation model than under strict profit maximization. We obtain that the asymmetric equilibrium in which only one firm adopts the flexible technology can be sustained under strategic delegation but not under strict profit maximization when products are substitutes. We extend the analysis to consider welfare implications.

Profit and Cost in "Modern" Post-Marxian Profit Theory: A Case Study from Varian's "Intermediate Microeconomics"

In this paper, I examine the treatment of competitive profit of professor Varian in his textbook on Microeconomics, as a representative of the “modern” post-Marxian view on competitive profit. I show how, on the one hand, Varian defines profit as the surplus of revenues over cost and, thus, as a part of the value of commodities that is not any cost. On the other hand, however, Varian defines profit as a cost, namely, as the opportunity cost of capital, so that, in competitive conditions, the profit or income of capital is determined by the opportunity cost of capital. I argue that this second definition contradicts the first and that it is based on an incoherent conception of opportunity cost.

Profit as Cost versus Profit as Surplus over Cost: A Case Study on Varian's "Intermediate Microeconomics"

On the analysis of Varian’s textbook on Microeconomics, which I take to be a representative of the standard view, I argue that Varian provides two contrary notions of profit, namely, profit as surplus over cost and profit as cost. Varian starts by defining profit as the surplus of revenues over cost and, thus, as the part of the value of commodities that is not any cost; however, he provides a second definition of profit as a cost, namely, as the opportunity cost of capital. I also argue that the definition of competitive profit as the opportunity cost of capital involves a self-contradictory notion of opportunity cost.

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.

To appove or not to approve: this is not the only question

This paper deals with electing candidates. In elections voters are frequently offered a small set of actions (voting in favor of one candidate, voting blank, spoiling the ballot, and not showing up). Thus voters can express neither a negative opinion nor an opinion on more than one candidate. Approval voting partially fills this gap by asking an opinion on all candidates. Still the choice is only between approval and non approval. However non approval may mean disapproval or just indifference or even absence of suffcient knowledge for approving the candidate. In this paper we characterize the dis&approval voting rule, a natural extension of approval voting that distinguishes between indifference and disapproval.

The basque ecological debt: global socioecological impacts of a small open economy

4 p.

Warsaw Conference: “Small steps forward while awaiting major decisions at the 2015 Paris Conference”

6 p.

The Determinants of Energy Efficiency Investments in the U.S.

31 p.

Structural capital, innovation capability, and company performance in technology-based colombian firms

[EN] In today s economy, innovation is considered to be one of the main driving forces behind business competitiveness, if not the most relevant one. Traditionally, the study of innovation has been addressed from different perspectives. Recently, literature on knowledge management and intellectual capital has provided new insights. Considering this, the aim of this paper is to analyze the impact of different organizational conditions i.e. structural capital on innovation capability and innovation performance, from an intellectual capital (IC) perspective. As regards innovation capability, two dimensions are considered: new idea generation and innovation project management. The population subject to study is made up of technology-based Colombian firms. In order to gather information about the relevant variables involved in the research, a questionnaire was designed and addressed to the CEOs of the companies making up the target population. The sample analyzed is made up of 69 companies and is large enough to carry out a statistical study based on structural equation modelling (partial least squares approach) using PLS-Graph software (Chin and Frye, 2003). The results obtained show that structural capital explains to a great extent both the effectiveness of the new idea generation process and of innovation project management. However, the influence of each specific organizational component making up structural capital (organizational design, organizational culture, hiring and professional development policies, innovation strategy, technological capital, and external structure) varies. Moreover, successful innovation project management is the only innovation capability dimension that exerts a significant impact on company performance.