Third-party complaints and firm performance: an application in Spanish banking

This article focuses on the impact of third-party complaints on firm performance. We propose two research hypotheses, which are developed from the literature of dissatisfaction, emotions, and economics. The methodology is based on an event study to estimate variation in firm share returns in the stock market due to the publication of the Annual Complaints Service Report by the Bank of Spain; as well as a regression analysis to examine the impact of the number of complaints per branch on the variation obtained. The empirical focus is on a sample of eleven banks to which complaints were made and which were quoted on the Spanish Stock Exchange between 1992 and 2001. The results show a negative impact of the publication of these annual complaint reports on the share returns of the banks concerned. Additionally, these returns have a negative relationship with the number of complaints per branch.

Technical efficiency in the retail food industry: the influence of inventory investment, wage levels, and age of the firm

The objective of this paper is to estimate technical efficiency in retailing; and the influence of inventory investment, wage levels, and firm age on this efficiency. We use the output supermarket chains’ sales volume, calculated isolating the retailer price effect on its sales revenue. This output allows us to estimate a strictly technical concept of efficiency. The methodology is based on the estimation of a stochastic parametric function. The empirical analyses applied to panel data on a sample of 42 supermarket chains between 2000 and 2002 show that inventory investment and wage level have an impact on technical efficiency. In comparison, the effect of these factors on efficiency calculated through a monetary output (sales revenue) shows some differences that could be due to aspects related to product prices.

Quality management, environmental management and firm performance in the Spanish hotel industry

Comunicación presentada en el XVI Simposio Internacional de Turismo y Ocio, ESADE, 23 mayo 2007.

Management of subluxated cataract with capsule anchor implantation

We describe a small case series that provides preliminary evidence of the usefulness of a new capsule-anchoring device for the management of subluxated cataracts. Three eyes of 3 patients with traumatic subluxated cataract causing a significant visual loss were enrolled. Phacoemulsification was performed in all cases with implantation of a capsule-anchoring device (AssiAnchor) because partial zonular dehiscence was present. A significant visual improvement was achieved in the 3 cases. The capsular bag was well centered and the anchors firmly attached to the capsulorhexis and sclera at 12 months postoperatively. The capsule-anchoring device was helpful in managing traumatic subluxated cataracts, enabling effective centration of the intraocular lens–capsular bag complex and, consequently, effective visual restoration.