A Methodology to measure shareholder value orientation and shareholder value creation aimed at providing a research basis to investigate the link between both magnitudes

Does shareholder value orientation lead to shareholder value creation? This article proposes methods to quantify both, shareholder value orientation and shareholder value creation. Through the application of these models it is possible to quantify both dimensions and examine statistically in how far shareholder value orientation explains shareholder value creation. The scoring model developed in this paper allows quantifying the orientation of managers towards the objective to maximize wealth of shareholders. The method evaluates information that comes from the companies and scores the value orientation in a scale from 0 to 10 points. Analytically the variable value orientation is operationalized expressing it as the general attitude of managers toward the objective of value creation, investment policy and behavior, flexibility and further eight value drivers. The value creation model works with market data such as stock prices and dividend payments. Both methods where applied to a sample of 38 blue chip companies: 32 firms belonged to the share index IBEX 35 on July 1st, 1999, one company represents the “new economy” listed in the Spanish New Market as per July 1st, 2001, and 5 European multinational groups formed part of the EuroStoxx 50 index also on July 1st, 2001. The research period comprised the financial years 1998, 1999, and 2000. A regression analysis showed that between 15.9% and 23.4% of shareholder value creation can be explained by shareholder value orientation.

Research policy and endogenous growth

This paper studies the effects of different types of research policy on economic growth. We find that while tax incentives to private research, public funding of private projects, and basic research performed at public institutions have unambiguously positive effects on economic growth, performing applied research at public institutions could have negative growth effects. This is due to the large crowding out of private research caused by public R\&D when it competes with private firms in the "patent race". Concerning the effects of these policies on welfare, it is found that research policy can either improve or reduce consumer welfare depending on the characteristics of the policy and that an excessively high research subsidy will reduce it.

Research work in Tokyo Institute of Technology

Research carried out in Tokyo Institute of Technology. The objective is to determine the influence of Interfacial Transition Zone (ITZ) around Lightweight aggregate in concrete on Chloride ion diffusivity. The ITZ of conventional concretes is the weakest point of concrete. The accumulating water on ITZ zone forms the most permeable area inside the concrete. Hence ITZ paves the way for chloride ion diffusion. The quality of ITZ depends on type and quality of aggregates used, water-cement ratio and also the method used for the production of concrete. It has been used two types of lightweight aggregates will be used, Chinese and Japanese, with different absorption capacities. The idea is to produce concrete with same effective water - cement ratio, using the same aggregates in two different conditions, dry and saturated, and compare the chloride ion diffusivity in these concretes (by diffusion test). A comparison of ITZ thickness of these concretes by SEM and EDAX-maps is also proposed. The chloride ion diffusion of concretes produced with the same effective water – cement ratio and same aggregates (dry and ssd) will depend, mainly, on ITZ.

Financial incentives in academia: research versus development

This paper investigates the effects of monetary rewards on the pattern of research. We build a simple repeated model of a researcher capable to obtain innovative ideas. We analyse how the legal environment affects the allocation of researcher's time between research and development. Although technology transfer objectives reduce the time spent in research, they might also induce researchers to conduct research that is more basic in nature, contrary to what the skewing problem would presage. We also show that our results hold even if development delays publication.

Incentives for interdisciplinary research

This paper is a positive analysis of the driving forces in interdisciplinary research. I take the perspective of a research institution that has to decide how to apply its resources among the production of two types of knowledge: specialized or interdisciplinary. Using a prize mechanism of compensation, I show that the choice of interdisciplinarity is compatible with profit maximization when the requirement for the production is sufficiently demanding, and when the new interdisciplinary field is not too neutral. Productive gains due to complementarities of efforts is the main advantage of interdisciplinary organization.

Business-science research collaboration under moral hazard

I analyze, in the context of business and science research collaboration, how the characteristics of partnership agreements are the result of an optimal contract between partners. The final outcome depends on the structure governing the partnership, and on the informational problems towards the efforts involved. The positive effect that the effort of each party has on the success of the other party, makes collaboration a preferred solution. Divergence in research goals may, however, create conflicts between partners. This paper shows how two different structures of partnership governance (a centralized, and a decentralized ones) may optimally use the type of project to motivate the supply of non-contractible efforts. Decentralized structure, however, always choose a project closer to its own preferences. Incentives may also come from monetary transfers, either from partners sharing each other benefits, or from public funds. I derive conditions under which public interventio

Recepción y difusión internacionales de Mercè Rodoreda: obra original, crítica y traducción

RESUM Recepción y difusión internacionales de Mercè Rodoreda: obra original, crítica y traducción té per objecte determinar la recepció i la difusió de l’obra original de Mercè Rodoreda, així com de l’obra crítica i de les traduccions, en el context internacional a partir de la interpretació de quatre bases de dades: obra literària de Mercè Rodoreda, obra crítica de Mercè Rodoreda i la seva obra, traductors i traduccions en funció de la llengua i de l’obra i, per últim, presència documental de Mercè Rodoreda a les Biblioteques Nacionals del món. El treball de recerca s’estructura de la següent manera. En primer lloc, plantegem i delimitem el tema, els objectius, la metodologia i la descripció de les bases de dades. Acte seguit, interpretem les bases de dades i exposem algunes consideracions. A continuació, presentem les conclusions finals que hem desenvolupat en cadascun dels àmbits en els que se centra la nostra recerca, així com el projecte de tesi doctoral i les noves línies de recerca. Per últim, exposem la bibliografia i els annexes, en els que incloem les bases de dades i reproduim els estudis traductològics comentats en el treball. Amb l’elaboració d’aquest treball de recerca pretenem, entre d’altres, donar a conèixer els gèneres literaris que va cultivar Mercè Rodoreda; recopilar l’obra crítica al voltant de l’autora i distingir la seva temàtica per determinar el nombre d’estudis crítics sobre traducció; identificar quins títols de l’obra de Mercè Rodoreda s’han traslladat a altres llengües, així com confirmar quina és l’obra més traduïda i quines les llengües a les que s’ha traslladat la seva obra; i, per últim, constatar la presència d’obres originals, estudis crítics i traduccions a les Biblioteques Nacionals del món i identificar-ne les possibles àrees d’expansió.

Comparing the early research performance of PhD graduates in labor economics in Europe and the USA

This paper analyzes the early research performance of PhD graduates in labor economics, addressing the following questions: Are there major productivity differences between graduates from American and European institutions? If so, how relevant is the quality of the training received (i.e. ranking of institution and supervisor) and the research environment in the subsequent job placement institution? The population under study consists of labor economics PhD graduates who received their degree in the years 2000 to 2005 in Europe or the USA. Research productivity is evaluated alternatively as the number of publications or the quality-adjusted number of publications of an individual. When restricting the analysis to the number of publications, results suggest a higher productivity by graduates from European universities than from USA universities, but this difference vanishes when accounting for the quality of the publication. The results also indicate that graduates placed at American institutions, in particular top ones, are likely to publish more quality-adjusted articles than their European counterparts. This may be because, when hired, they already have several good acceptances or because of more focused research efforts and clearer career incentives.

Codex Search: propuesta e implementación de un sistema de recuperación de información de ámbito local basado en casos

CODEX SEARCH es un motor de recuperación de información especializado en derecho de extranjería que está basado en herramientas y conocimiento lingüísticos. Un motor o Sistema de Recuperación de Información (SRI) es un software capaz de localizar información en grandes colecciones documentales (entorno no trivial) en formato electrónico. Mediante un estudio previo se ha detectado que la extranjería es un ámbito discursivo en el que resulta difícil expresar la necesidad de información en términos de una consulta formal, objeto de los sistemas de recuperación actuales. Por lo tanto, para desarrollar un SRI eficiente en el dominio indicado no basta con emplear un modelo tradicional de RI, es decir, comparar los términos de la pregunta con los de la respuesta, básicamente porque no expresan implicaciones y porque no tiene que haber necesariamente una relación 1 a 1. En este sentido, la solución lingüística propuesta se basa en incorporar el conocimiento del especialista mediante la integración en el sistema de una librería de casos. Los casos son ejemplos de procedimientos aplicados por expertos a la solución de problemas que han ocurrido en la realidad y que han terminado en éxito o fracaso. Los resultados obtenidos en esta primera fase son muy alentadores pero es necesario continuar la investigación en este campo para mejorar el rendimiento del prototipo al que se puede acceder desde &http://161.116.36.139/~codex/&.

El Giravolt de la Família Robafaves

Treball de recerca realitzat per un alumne d'ensenyament secundari i guardonat amb un Premi CIRIT per fomentar l'esperit cientí­fic del Jovent l'any 2009. 'El Giravolt de la Família Robafaves' és un treball de recerca que engloba tota la història del fet geganter a Mataró des dels seus orígens fins a l'actualitat. Es tracta d'una activitat amb una dimensió cultural, folklòrica i històrica que ha servit per donar respostes a molts dels interrogants promulgats abans de dur a terme aquest projecte. Aquesta família de Gegants ha estat víctima de molts dels entrebancs vigents al llarg de la història així com guerres, revoltes, dictadures, etc. De manera que s'ha pogut comprovar com la política interior i exterior ha afectat a la Família Robafaves d'una manera directa. S'ha fet una investigació a través de les revistes publicades durant la transició democràtica. També cal dir que, s'ha tingut el recolzament d'entrevistes fetes a persones puntals en la història dels Gegants com ara geganters, Caps de Colla, la primera gegantera de la Família Robafaves, etc. Per poder corroborar la base teòrica i documental d'aquest treball s'ha fet un estudi estadístic de la significació social de la Festa Major de Mataró per poder valorar en quina situació es troba actualment. Així doncs, s'ha pogut valorar la influència i importància que tenen els Gegants per Mataró.

Deliberative ecological economics: emergence and research issues

We discuss the recent emergence of "deliberative ecological economics", a field that highlights the potential of deliberation for improving environmental governance. We locate the emergence of this literature in the long concern in ecological economics over the policy implications of limited views of human action and its encounter with deliberative democracy scholarship and the model of communicative rationality as an alternative to utilitarianism. Considering criticisms over methods used and the focus of research in deliberative decision-making, we put forward a research agenda for deliberative ecological economics. Given the promising potential of deliberative processes for improving the effectiveness and legitimacy of environmental decision-making, work in this area could help advance both theory and practice in environmental governance.

Trends in economic research: an international perspective

Given the recent efforts in several countries to reorganize the research institutional setting to improve research productivity, our analysis addresses the following questions: To which extent has the recent awareness over international quality standards in economics around the world been reflected in research performance? How have individual countries fared? Do research quantity and quality indicators tell us the same story? We concentrate on trends taking place since the beginning of the 1990s and rely on a very comprehensive database of scientific journals, to provide a cross-country comparison of the evolution of research in economics. Our findings indicate that Europe is catching-up with the US but, in terms of influential research, the US maintains a dominant position. The main continental European countries, Germany, France, Italy and Spain, experienced some of the largest growth rates in economic scientific output. Other European countries, namely the UK, Norway, the Netherlands, Denmark, and Sweden, have shown remarkable progress in per capita output. Collaborative research seems to be a key factor explaining the relative success of some European countries, in particular when it comes to publishing in top journals, attained predominantly through international collaborations.

Research and teaching: a holy or an unholy alliance?

Much of the self-image of the Western university hangs on the idea that research and teaching are intimately connected. The central axiom here is that research and teaching are mutually supportive of each other. An institution lacking such a set of relationships between research and teaching falls short of what it means to be a university. This set of beliefs raises certain questions: Is it the case that the presence of such a mutually supportive set of relationships between research and teaching is a necessary condition of the fulfilment of the idea of the university? (A conceptual question). And is it true that, in practice today, such a mutually supportive set of relationships between research and teaching characterises universities? (An empirical question). In my talk, I want to explore these matters in a critical vein. I shall suggest that: a) In practice today, such a mutually supportive set of relationships between research and teaching is in jeopardy. Far from supporting each other, very often research and teaching contend against each other. Research and teaching are becoming two separate ideologies, with their own interest structures. b) Historically, the supposed tight link between research and teaching is both of recent origin and far from universally achieved in universities. Institutional separateness between research and teaching is and has been evident, both across institutions and even across departments in the same institution. c) Conceptually, research and teaching are different activities: each is complex and neither is reducible to the other. In theory, therefore, research and teaching may be said to constitute a holy alliance but in practice, we see more of an unholy alliance. If, then, in an ideal world, a positive relationship between research and teaching is still a worthwhile goal, how might it be construed and worked for? Seeing research and teaching as two discrete and unified sets of activity is now inadequate. Much better is a construal of research and teaching as themselves complexes, as intermingling pools of activity helping to form the liquid university that is emerging today. On this view, research and teaching are fluid spaces, ever on the move, taking up new shapes, and themselves dividing and reforming, as the university reworks its own destiny in modern society. On such a perspective, working out a productive relationship between research and teaching is a complex project. This is an alliance that is neither holy nor unholy. It is an uneasy alliance, with temporary accommodations and continuous new possibilities.

Análisis de una iniciativa estudiantil de investigación surgida en Criptogamia, una asignatura optativa de segundo ciclo de Biología = Analysis of a students’ research initiative originating in Cryptogamy, an elective course in the last two years of the Biology degree

Presentamos una experiencia exitosa de aprendizaje que partió de Criptogamia (asignatura optativa de segundo ciclo de Biología), que dio lugar a un proyecto de investigación gestionado por los propios alumnos. La iniciativa se consolidó estableciendo una Asociación de Estudiantes centrada en investigación y divulgación. En poco tiempo, los participantes han presentado comunicaciones científicas, y organizado actividades dirigidas a diversos públicos, dentro y fuera de la comunidad universitaria. Actualmente se plantea una colaboración multidisciplinar con otros organismos de investigación y la extensión de su ámbito de estudio. Abordamos su incidencia en el aprendizaje en varios aspectos: científico (técnicas específicas, rigor, búsqueda de información e interpretación de resultados), comunicativo (estructuración y presentación de la información obtenida, para diversos públicos), y organizativo, incluyendo el trabajo en equipo. Aunque de carácter espontáneo, esta experiencia muestra rasgos evaluables en cuanto a sus posibilidades para otras asignaturas. Analizamos las características y planteamiento de esta optativa, el perfil de sus alumnos, y el contexto universitario que la acoge. Detectamos como factores principales los aspectos participativos de la asignatura, la cohesión del grupo, el carácter voluntario de la implicación, los beneficios percibidos por los estudiantes, y la disponibilidad de recursos humanos (supervisión) y materiales (equipamiento y subvenciones).

Recerca versus docència en una experiència d'internalització dels estudis de Geografia a la Universitat de Girona: The faces of landscape, Catalonia and North Karelia = Research versus teaching in one experience of internationalization of the Geography degree studies in the University of Girona: The faces of landscape, Catalonia and North Karelia

Un dels reptes cabdals de la Universitat és enllaçar l’experiència de recerca amb la docència, així com promoure la internacionalització dels estudis, especialment a escala europea, tenint present que ambdues poden actuar com a catalitzadores de la millora de la qualitat docent. Una de les fórmules d’internacionalització és la realització d’assignatures compartides entre universitats de diferents països, fet que suposa l’oportunitat d’implementar noves metodologies docents. En aquesta comunicació es presenta una experiència en aquesta línia desenvolupada entre la Universitat de Girona i la Universitat de Joensuu (Finlàndia) en el marc dels estudis de Geografia amb la realització de l’assignatura 'The faces of landscape: Catalonia and North Karelia'. Aquesta es desenvolupa al llarg de dues setmanes intensives, una en cadascuna de les Universitats. L’objectiu és presentar i analitzar diferents significats del concepte paisatge aportant també metodologies d’estudi tant dels aspectes físics i ecològics com culturals que s’hi poden vincular i que són les que empren els grups de recerca dels professors responsables de l’assignatura. Aquesta part teòrica es completa amb una presentació de les característiques i dinàmiques pròpies dels paisatges finlandesos i catalans i una sortida de camp. Per a la part pràctica es constitueixen grups d’estudi multinacionals que treballen a escala local algun dels aspectes en els dos països, es comparen i es realitza una presentació i defensa davant del conjunt d’estudiants i professorat. La llengua vehicular de l’assignatura és l’anglès.