Organizational form and business performance

This project deals with the generation of profitability and the distribution of its benefits. Inspired by Davis (1947, 1955), we define profitability as the ratio of revenue to cost. Profitability is not as popular a measure of business financial performance as profit, the difference between revenue and cost. Regardless of its popularity, however, profitability is surely a useful financial performance measure. Our primary objective in this project is to identify the factors that generate change in profitability. One set of factors, which we refer to as sources, consists of changes in quantities and prices of outputs and inputs. Individual quantity changes aggregate to the overall impact of quantity change on profitability change, which we call productivity change. Individual price changes aggregate to the overall impact of price change on profitability change, which we call price recovery change. In this framework profitability change consists exclusively of productivity change and price recovery change. A second set of factors, which we refer to as drivers, consists of phenomena such as technical change, change in the efficiency of resource allocation, and the impact of economies of scale. The ability of management to harness these factors drives productivity change, which is one component of profitability change. Thus the term sources refers to quantities and prices of individual outputs and inputs, whose changes influence productivity change or price recovery change, either of which influences profitability change. The term drivers refers to phenomena related to technology and management that influence productivity change (but not price recovery change), and hence profitability change.

Sistemes de crèdit hipotecari en l'europa del segle XIX, en especial a Catalunya i Espanya: legislació hipotecària i bancs hipotecaris

Investigación producida a partir de una estancia en la Westfälische Wilhelms-Universität, Alemania, entre julio y septiembre del 2007. En este trabajo, se estudia la situación del crédito hipotecario en España a mediados de siglo XIX (con especial atención a Cataluña). En su desarrollo, se abordan tres cuestiones. La situación del crédito hipotecario en España a mediados de siglo XIX. La legislación hipotecaria española en el siglo XIX. En especial, se ha puesto de relieve su incapacidad para movilizar la riqueza inmueble, que sólo se solucionó con una completa reforma hipotecaria y registral. El “sistema de crédito territorial” que, ideado por el desconocido abogado catalán Joaquín Borrell y Vilá, debe considerarse como el verdadero primer paso jurídico hacia el futuro desarrollo de las instituciones de crédito hipotecario en España, aunque fue ignorado por el Gobierno y los agentes económicos.

The Innovation and Imitation Dichotomy in Spanish firms: do absorptive capacity and the technological frontier matter?

This paper analyses whether a firm’s absorptive capacity and its distance from the technological frontier affect the choice between innovation and imitation in innovative Spanish firms. From an extensive survey of 5,575 firms during the 2004-2009 period, we found two significant results. With regard to the role of absorptive capacity, the empirical evidence shows that when innovative firms have difficulties in accessing external information and hire skilled workers, their innovative capacity is reduced. Meanwhile, with regard to distance from the technological frontier, the firms that reduce this gap manage to increase their innovative capacity at the expense of imitation. To summarise, when we studied firms’ absorptive capacity and their relative position to the technological frontier in tandem, we found that the two factors directly affected firms' ability to innovate or imitate. Key words: R&D sources, innovation and imitation strategies, absorptive capacity, technological frontier, ordered probit.

A Folk Theorem for Games when Frequent Monitoring Decreases Noise

This paper studies frequent monitoring in an infinitely repeated game with imperfect public information and discounting, where players observe the state of a continuous time Brownian process at moments in time of length _. It shows that a limit folk theorem can be achieved with imperfect public monitoring when players monitor each other at the highest frequency, i.e., _. The approach assumes that the expected joint output depends exclusively on the action profile simultaneously and privately decided by the players at the beginning of each period of the game, but not on _. The strong decreasing effect on the expected immediate gains from deviation when the interval between actions shrinks, and the associated increase precision of the public signals, make the result possible in the limit. JEL: C72/73, D82, L20. KEYWORDS: Repeated Games, Frequent Monitoring, Public Monitoring, Brownian Motion.

Public Monitoring with Uncertainty in the Time Repetitions

This paper study repeated games where the time repetitions of the stage game are not known or controlled by the players. We call this feature random monitoring. Kawamori's (2004) shows that perfect random monitoring is always better than the canonical case. Surprisingly, when the monitoring is public, the result is less clear-cut and does not generalize in a straightforward way. Unless the public signals are sufficiently informative about player's actions and/or players are patient enough. In addition to a discount effect, that tends to consistently favor the provision of incentives, we found an information effect, associated with the time uncertainty on the distribution of public signals. Whether payoff improvements are or not possible, depends crucially on the direction and strength of these effects. JEL: C73, D82, D86. KEYWORDS: Repeated Games, Frequent Monitoring, Random Public Monitoring, Moral Hazard, Stochastic Processes.

High Growth Firms and Innovation: an empirical analysis for Spanish firms

This paper analyzes the effect of firms’ innovation activities on their growth performance. In particular, we observe how important innovation is for high-growth firms (HGFs) for an extensive sample of Spanish manufacturing and services firms. The panel data used comprises diverse waves of Spanish CIS over the the period 2004-2008. First, a probit analysis determines whether innovation affects the probability of being a high-growth firm. And second, a quantile regression technique is applied to explore the determinants and characteristics of specific groups of firms (manufacturing versus service firms and high-tech versus low-tech firms). It is revealed that R&D plays a significant role in the probability of becoming a HGF. Investment in internal and external R&D per employee has a positive impact on firm growth (although internal R&D presents a significant impact in the last quantiles, external R&D is significant up to the median). Furthermore, we show evidence that there is a positive impact of employment (sales) growth on the sales (employment) growth. Keywords: high-growth firms, firm growth, innovation activity JEL Classifications: L11, L25, O30

Determinants of high-growth firms:why do some countries have more high-growth firms than others?

High-growth firms have been shown to be a key factor for economic growth and structural change. This paper analyses the determinants of the number of high-growth firms in a country for 17 OECD countries between 1999 and 2005, using the Amadeus data set, the GEM data set, and others. The first contribution of this paper is that it is – as far as we know – the first empirical analysis of high-growth firms at the country level on the basis of actual measured growth. Second, we find indicative empirical evidence for three driving forces of high growth, viz. entrepreneurship, institutional settings, and opportunities for growth, all in accordance with theory and empirical findings in related fields of research. Third, the paper gives a tentative explanation of the differences in the average percentage of high-growth firms between countries. Finally, the paper gives some clues for policy makers how to promote high-growth firms. Keywords: high-growth firms, fast growing firms, entrepreneurship, institutional obstacles, opportunities for growth

Flexible employment and cross- regional adjustment

Employment flexibility is commonly associated to greater labour mobility and thus faster cross-regional adjustments. The literature however offers very little hard evidence on this and quite limited theoretical guidance. This paper examines empirically the relationship between employment flexibility and cross-regional adjustment (migration) at the regional and local levels in the UK. Employment flexibility is associated to higher labour mobility (but only at a rather localised scale) and at the same time seems to reduce the responsiveness of migration to unemployment. This suggest that rising flexibility may be linked to higher persistence in spatial disparities, as intra-regional adjustments are strengthened while extraregional adjustments weakened. Keywords: Employment flexibility, regional migration, labour market adjustment JEL Codes: R11, R23, J08, J61

Deciding where to belong: gender differences in educational trajectories and migration in a rural Spanish town

From an anthropological perspective, formal post-secondary schooling is not an abstractentity with an intrinsic value that everyone finds desirable, but rather one alternative among many that young people evaluate from their different positions in the social field. The problem discussed in this paper is the diverging life trajectories that young men and women in a concrete rural context, at the end of the 20th century, shape for themselves at the ages of 14-16, a moment of decision created by national legislation regarding mandatory education (LGE, 1970, General Education Law, and LOGSE, 1990, General Organic Law of the Education System). Despite a strong cultural norm of equal inheritance divided among all children, male and female, and despite the equal educational opportunities provided by the Spanish State, different meanings of possession and use-rights over land and the resulting culturally accepted gendered division of work converge to orient men and women differently towards post-secondary schooling. Observation of the age, gender, and civil status structure of the population led to the preliminary query: Why do men and women, in this town, behave differently with respect to migration and marriage? The main hypothesis was that women’s longer school trajectories and resulting migration and men’s anchoring in the town and their higher rates of celibacy were not drastic changes in values, in the positional-relational sense of Bourdieu (1988, 2002), but the current outcome of previously existing dissimilar relations to property that produce dissimilar mobility. Through their schooling and work choices, young men and women, at very early ages, locate themselves in, or decide to belong to, different contexts that later reveal very different possibilities of finding marriage partners. This paper is based on an ethnographic study of a small rural town (302 inhabitants in 1950; 193 in 2000) near Leon. Although this paper deals with the situation in the final decades of the 20th century, we must also consider the first half of the century, where some elements that shape this situation have their roots. Fieldwork was carried out between 1988 and 2001, in periods of differing length and intensity. The social subjects discussed here are the domestic unit and its component members. They were studied in conjunction, analyzing the life-trajectory decisions of specific persons in the framework of the domestic unit and the relations among people and property which comprise it. The tried-and-true methods of ethnographic research –participant observation, interviews, and life-histories, etc.- were employed. Archival research was also important for producing demographic data. Demographic analysis, the analysis of the composition and transformation of domestic units, and the creation of life trajectories were among the principal techniques used. The theoretical analysis was oriented by Bourdieu’s (2002) framework of the social field, habitus, and difference.

Anàlisi d'aplicacions del disseny de programació múltiple: una estimació de priorització en la planificació inicial i progressiva d'aquest enfocament

Atendre la planificació dels plans d’aula per a tot l’alumnat des d’un enfocament d’inclusió i atendre la planificació d’accés de cadascun i cadascuna de les alumnes a tot allò que es desenvoluparà a l’aula, són els propòsits del enfocament basat en el Disseny de Programacions Múltiples i Plans Educatius Individualitzats. Des d’aquest enfocament es planteja un procediment de planificacions “per versions” en el sentit que es considera que, inicialment, no es fa necessari preveure tots els detalls de l’activitat docent que es prepara, sinó el disposar d’uns primers esborranys que poden ser suficients i funcionals o que, en el cas de ser necessàries majors concrecions, aquestes es puguin anar introduint progressivament durant el mateix procés docent. El conèixer els canvis que es produiran en el moment de la implementació és l’objectiu d’aquest treball perquè tenim la convicció que si anticipem els possibles canvis que es produiran sabrem els components en els quals convé inicialment, planificar amb major intensitat i detall i quins són aquells altres components sobre els quals la intensitat de la planificació pot ser menys intensa i així facilitar la tasca dels professionals a l’hora de programar.

Hiperparatiroidismo primario en mujeres postmenopáusicas: evolución de la densidad mineral ósea tras tratamiento quirúrgico

Es realitza un estudi prospectiu observacional amb 158 dones postmenopàusiques diagnosticades d’hiperparatiroidisme primari. L’objectiu és descriure i analitzar l’evolució de la densitat mineral òssia d’aquestes dones després de ser sotmeses a tractament quirúrgic. Els resultats mostren que l’os més afectat en aquesta malaltia és l’os cortical, però el que més es recupera i de forma més ràpida després de la paratiroidectomia és l’os trabecular. Així mateix, les malaltes que tenen un hiperparatiroidisme més sever presenten una major recuperació de la densitat mineral òssia després de la cirurgia.

Percepció dels docents del curs bàsic de l'ISPC en relació a les seves competències digitals

Presentem els resultats d’un estudi relatiu a les competències digitals dels docents de l’ Institut de Seguretat Pública de Catalunya, centrant-nos en una mostra de 500 docents que imparteixen el curs bàsic policial, i fent servir una enquesta online. Tenint en compte els coneixements anteriors envers les TIC i la seva aplicació a la seva vida quotidiana es vol donar una visió de la preparació dels docents per tal de poder detectar virtuts i mancances en els seus coneixements per a una futura aplicació de les TIC a les seves pràctiques docents. Paraules clau: Competències digitals, Institut de Seguretat Pública de Catalunya, docents

Incidentaloma adrenal: estudio descriptivo de una serie

El incidentaloma adrenal es aquella masa suprarrenal hallada casualmente al realizar una prueba de imagen por otro motivo. El estudio debe determinar su benignidad y funcionalidad. La controversia radica en el seguimiento. Se presenta un estudio de 67 pacientes con indicentaloma adrenal recogido en 5 años, estudio inicial y seguimiento a largo plazo. Se halló un 74,6% adenomas no funcionantes, 7,4% mielolipomas, 4,5% Síndrome de Cushing, 2,9% Hiperaldosteronismo primario, 1,5% feocromocitoma y metástasis. El seguimiento a largo plazo se realizó a los 6 y 18-24 meses, sin cambios. El estuido realizado apoya las guías actuales.

Tractament preoperatori de l’oclusió intestinal amb pròtesis de còlon en malalts amb càncer de còlon no metastàsic

S’evalua la supervivència lliure de progressió i la supervivència global dels pacients amb càncer de còlon que han debutat amb oclusió intestinal i com a primer tractament s’ha col.locat una pròtesis metàl.lica autoexpandible al còlon prèviament a la cirurgia del tumor primari. És un estudi retrospectiu i unicèntric on s’inclouen 45 pacients. Els resultats de l’estudi demostren que el fet de col.locar una pròtesis en la fase aguda de l’oclusió no empitjora el pronòstic a llarg termini d’aquests pacients.

La gestió de la creativitat a les empreses consultores en comunicació i relacions públiques

Aquest treball de recerca investiga com es gestiona la creativitat a les empreses consultores en comunicació i relacions públiques a través d'un estudi exploratori basat en la Grounded Theory. Els resultats suggereixen que la creativitat és una de les competències requerides al professional de les relacions públiques i també un dels criteris que tenen en compte les empreses client a l'hora d'escollir una agència. Tot i així, la figura del director creatiu en relacions públiques genera forta controvèrsia, les tècniques de creativitat utilitzades en el sector es limiten bàsicament a brainstorming, i la creativitat segueix associant-se principalment a la comunicació dirigida al consumidor