The persistence of return on assets: differences between industries and differences between firms

This study offers a statistical analysis of the persistence of annual profits across a sample of firms from different European Union (EU) countries. To this end, a Bayesian dynamic model has been used which enables the annual behaviour of those profits to be broken down into a permanent structural component on the one hand and a transitory component on the other, while also distinguishing between general effects affecting the industry as a whole to which each firm belongs and specific effects affecting each firm in particular. This break down enables the relative importance of those fundamental components to be evaluated. The data analysed come from a sample of 23,293 firms in EU countries selected from the AMADEUS data-base. The period analysed ran from 1999 to 2007 and 21 sectors were analysed, chosen in such a way that there was a sufficiently large number of firms in each country*sector combination for the industry effects to be estimated accurately enough for meaningful comparisons to be made by sector and country. The analysis has been conducted by sector and by country from a Bayesian perspective, thus making the study more flexible and realistic since the estimates obtained do not depend on asymptotic results. In general terms, the study finds that, although the industry effects are significant, more important are the specific effects. That importance varies depending on the sector or the country in which the firm carries out its activity. The influence of firm effects accounts for more than 90% of total variation and display a significantly lower degree of persistence, with adjustment speeds oscillating around 51.1%. However, this pattern is not homogeneous but depends on the sector and country analysed. Industry effects have a more marginal importance, being significantly more persistent, with adjustment speeds oscillating around 10% with this degree of persistence being more homogeneous at both country and sector levels.

Barriers to innovation and public policy in Catalonia

The present paper analyses the link between firms’ decisions to innovate and the barriers that prevent them from being innovative. The aim is twofold. First, it analyses three groups of barriers to innovation: the cost of innovation projects, lack of knowledge and market conditions. Second, it presents the main steps taken by Catalan Government to promote the creation of new firms and to reduce barriers to innovation. The data set used is based on the 2004 official innovation survey of Catalonia which was taken from the Spanish CIS-4 sample. This sample includes individual information on 2,954 Catalan firms in manufacturing industries and knowledge-intensive services (KIS). The empirical analysis reveals pronounced differences regarding a firm’s propensity to innovate and its perception of barriers. Moreover, the results show that cost and knowledge barriers seem to be the most important and that there are substantial sectoral differences in the way that firms react to barriers. The results of this paper have important implications for the design of future public policy to promote entrepreneurship and innovation together.

Arts Fusió : una proposta didàctica transdisciplinària a través d’un procés d’aprenentatge creatiu

Arts Fusió és un projecte pedagògic entorn a la transdisciplinarietat artística, consistent en una recerca al voltant d'aquest concepte i dels valors formatius que aporta en processos d'aprenentatge creatiu. A partir d'aquí hem creat uns principis metodològics per orientar una didàctica cap a la fusió del teatre, la dansa, la música i les arts visuals. Per posar de manifest els beneficis de la nostra proposta hem realitzat aplicacions didàctiques en educacio artística superior i en educació secundària obligatòria. Metodològicament ens situem en el paradigma de la complexitat i basem les intervencions en una perspectiva qualitativa exploratòria, en concret dintre de la línia de la investigació avaluativa. Com a resultats del treball hem vist que la transdisciplinarietat artística pot actuar com a mitjà i com a fi educatiu segons el context en el que ens trobem.

Young innovative firms and R&D strategies: is the Spanish case different?

This paper analyzes the profile of Spanish young innovative companies (YICs) and the determinants of innovation and imitation strategies. The results for an extensive sample of 2,221 Spanish firms studied during the period 2004–2010 show that YICs are found in all sectors, although they are more concentrated in high-tech sectors and, in particular, in knowledge-intensive services (KIS). Three of every four YICs are involved in KIS. Our results highlight that financial and knowledge barriers have much impact on the capacity of young, small firms to innovate and to become YICs, whereas market barriers are not obstacles to becoming a YIC. Public funding, in particular from the European Union, makes it easier for a new firm to become a YIC. In addition, YICs are more likely to innovate than mature firms, although they are more susceptible to sectoral and territorial factors. YICs make more dynamic use of innovation and imitation strategies when they operate in high-tech industries and are based in science parks located close to universities. Keywords: innovation strategies, public innovation policies, barriers to innovation, multinomial probit model. JEL Codes: D01, D22 , L60, L80, O31

Creative and Multidisciplinary Etching in the Digital Age

In our capacity as creative artists, researchers and fine arts professors, most part of our activity focuses on the relationships between people and creativity, technology, and resources, and, most frequently, what we aim to offer are new enjoyable and subversive ways of interacting with these three fields. As art teachers, we ask 'why and how' to teach dynamic bearing in mind that digital technology will undoubtedly impact on contemporary art practice.

Creative Industries: a Preliminary Insight to their Location Determinants

This paper is about location decisions of Creative Industries and the role played by existent spatial distribution and agglomeration economies of these kinds of activities in order to analyse their location determinants. Our main statistical source is the REIC (Catalan Manufacturing Establishments Register), which has plant-level microdata on location of new plants. Using Count Data Models, our main results show that location determinants are quite similar between both industries and also both non-creative and creative firms are positively influenced by the specialisation level in Creative Industries of municipalities. Moreover, our results provide evidence that the unobserved ‘creative milieu’ has a limited impact on attracting firms. Keywords: creative industries, creative milieu, count data models, industrial location, agglomeration economies

Clustering or scattering: the underlying reason for regulating distance among retail outlets

Concerns on the clustering of retail industries and professional services in main streets had traditionally been the public interest rationale for supporting distance regulations. Although many geographic restrictions have been suppressed, deregulation has hinged mostly upon the theory results on the natural tendency of outlets to differentiate spatially. Empirical evidence has so far offered mixed results. Using the case of deregulation of pharmacy establishment in a region of Spain, we empirically show how pharmacy locations scatter, and that there is not rationale for distance regulation apart from the underlying private interest of very few incumbents.

Spatial distribution of economic activities: an empirical approach usingself-organizing maps

The aim of this paper is to analyse the colocation patterns of industries and firms. We study the spatial distribution of firms from different industries at a microgeographic level and from this identify the main reasons for this locational behaviour. The empirical application uses data from Mercantile Registers of Spanish firms (manufacturers and services). Inter-sectorial linkages are shown using self-organizing maps. Key words: clusters, microgeographic data, self-organizing maps, firm location JEL classification: R10, R12, R34

Location Determinants of New Firms: Does Skill Level of Human Capital Really Matter?

This paper is about the role played by stock of human capital on location decisions of new manufacturing plants. We analyse the effect of several skill levels (from basic school to PhD) on decisions about the location of plants in various industries and, therefore, of different technological levels. We also test whether spatial aggregation level biases the results and determine the most appropriate areas to be considered in analyses of these phenomena. Our main statistical source is the Register of Manufacturing Establishments of Catalonia (REIC), which has plant-level microdata on the locations of new manufacturing plants. Keywords: agglomeration economies, industrial location, human capital, count-data models, spatial econometrics.

Els àngels de la "New Age" : la literatura didàctica i les cartes oracle que tracten d'ensenyar a comunicar-se amb els àngels

Una mirada des dels Estudis Culturals sobre la literatura didàctica i les cartes oracle que tracten d'ensenyar a comunicar-se amb els àngels. Són productes relativament nous en el mercat, comercialitzats per les indústries culturals i generats en el sector dels nous moviments religiosos conegut com New Age.

Botiga onlinede llibres

L¿aplicació en J2EE que permet gestionar totes les vendes d¿una empresa per internet, així com tambégestionar tota la part del magatzem o bé de gestió de perfils i d¿usuaris. L¿aplicació permet saber de manera ràpida quina és la llista de la compra d¿un client i d¿aquesta manera els treballadors realitzaran la seva feina per tal de fer-li arribar el més aviat possible la sevallista de la compra.

Projecte Botiga Online

Implantació d¿una botiga online de llibres, modernitzant la nostra actual. Ambaquest nou espai, es pretén oferir un producte atractiu per a qualsevol client, que li permetrà realitzar laseva compra des de qualsevol part del mon

PFC J2EE : botiga de Llibres On-Line KIWIX

L'objectiu del present Projecte final de carrera consisteix en la realització d'un dissenye implementació d'un lloc web de venta de llibres al detall.El sistema mostra a l'usuari una sèrie de productes. Tots aquest productespoden ser adquirits per l'usuari prèvia identificació i validació de les dades.

La Estrategia de elaboración de un superventas: El Código Da Vinci

Estudi de per què el llibre de Dan Brown “El Código da Vinci” és un èxit de vendes, i de les claus de la seva adaptació cinematogràfica

Bajo las estrellas del Romanticismo : un viaje a través de la noche

Con este trabajo he pretendido realizar un estudio aproximado a la música del período romántico cuya temática gira en torno al mundo de la noche. Lo he hecho a través de los compositores de música para piano más representativos de la época, con una breve pincelada a la música sinfónica y a las artes representativas. He pretendido demostrar cómo cada compositor reflejó su personalidad a través de un concepto tan abstracto y romántico como es el mundo de la noche.