Net-surplus as a useful tool to analyse financial information in co-op societies

This paper aims to analyse a sample of Galician co-ops to verify whether or not it is possible to deduce different financial behaviours among co-op partners from the amount of net-surplus. To this end, our study adds net-surplus to the variation registered in some account entries so that other residual incomes yielded by the co-op may be considered. The distribution of these revenues shows that partners do not usually choose to fully anticipate residual incomes. This reveals that some firms follow a positive net-surplus strategy, which is actually different from the null net-surplus strategy asserted by the classical financial theory. Furthermore, results show that differences between both strategies are statistically significant. This opens a path to future research on determinants explaining why co-op partners voluntarily renounce to anticipating these residual incomes. Such behaviour only arises when yearly accounts render a positive result, thereby making the accounting net-surplus a useful tool to analyse financial information in co-op societies.

Special employment centers in Castile and León 2007-2013: effects of the crisis in relation to these centers’ registered legal personalities

The aim of this paper is to carry out an economic and financial study of the Special Employment Centres in Castile and León based on a classification of these entities’ registered legal personalities in order to view how the economic crisis that began at the end of 2007 may have affected them. Various items from the Centres’ financial statements are analysed and the results are compared to those from the period 2007-2013 as to provide a broader perspective of their size, development, growth and behaviour. The following economic figures were used: total assets, turnover and revenue. The variable “employment” is compared with the subsidies received by the Centres, showing that the crisis does affect the Centres depending on their registered legal personalities. Associations and physical persons are the most affected personalities, to the point of possible extinction. An account reversal for the Centres is also included in this article, which measures the percentage of public aid received by the Centres that is returned to society.

Enigmas monetarios en el derecho local. Los mencales y maravedís en los fueros castellanos

La historia de la moneda en la Castilla medieval ha estado siempre mediatizada por la convivencia no siempre armónica entre dos sistemas monetarios muy diferentes. Uno basado en la plata, de origen europeo, otro centrado en el oro, de raíces árabes. La necesidad de conectar y de establecer unas equivalencias entre ellos se convirtió pronto en una necesidad, máxime cuando las monedas de oro incrementaron sus variantes. En esta compleja situación aparecen mencales y maravedís citados conjuntamente en muchos fueros: Zorita, Uclés, Cuenca,... sin que su naturaleza quede del todo clara. Este artículo compara estas referencias y analiza las equivalencias que los unen. Como colofón al trabajo podemos afirmar que los maravedís citados en cada texto corresponden a monedas áureas de distinto peso y valor mientras el mencal es identificado con un ponderal de oro que los relaciona.

Agua y desarrollo urbano en la Castilla medieval: aportaciones a su estudio en la ciudad de Guadalajara

Uno de los elementos críticos del urbanismo castellano en la Edad Media era el acceso a recursos hídricos que pudieran servir para el abastecimiento humano. En función del clima, la orografía, y las infraestructuras heredadas de épocas anteriores, cada ciudad y villa del reino trató de buscar la mejor manera de asegurar el suministro de agua para sus vecinos. A lo largo de este trabajo se analiza la forma en la que el concejo de Guadalajara, así como los principales poderes religiosos y nobiliarios de la ciudad, fueron trazando la red de abastecimiento urbano durante la Baja Edad Media, a partir de las fuentes del paraje conocido como El Sotillo, y cómo realizaron la explotación económica del cauce del río Henares en las cercanías del municipio. El agua, bien escaso en la Alcarria, fue durante los siglos bajomedievales un elemento de gran importancia económica y símbolo de prestigio social, que despertó el interés de todos los grupos de la sociedad arriacense.

The genesis of the documents during the chancellery of Alfonso X.

The Chancellery of Alfonso X represents one of the most signi-ficant milestones for the study of the configuration of the future Spanish Administration. One of the least known subjects of his reign is the pro-cess followed to draft his documents —the genesis of the documents—. Having disappeared the records of the Castilian Chancellery, the use of the legal sources of Alfonso X like: Speculum, Fuero Real, Partidas and the Monarch´s documents have become essential to develop this work. This work approaches the different stages of construction of the docu-ment, from its “actio” to its “conscriptio” which we have divided into “documental” and “cancilleresca”, respectively. This division is due to, on one hand, to the different places in which documents were created and on the other hand, to the strengthening of the belief that the Chan-cellery was the place where the documents were validated and can-celled.