Earnings quality and performance in the banking industry: a profit frontier approach

The analysis of efficiency and productivity in banking has received a great deal of attention for almost three decades now. However, most of the literature to date has not explicitly accounted for risk when measuring efficiency. We propose an analysis of profit efficiency taking into account how the inclusion of a variety of bank risk measures might bias efficiency scores. Our measures of risk are partly inspired by the literature on earnings management and earnings quality, keeping in mind that loan loss provisions, as a generally accepted proxy for risk, can be adjusted to manage earnings and regulatory capital. We also consider some variants of traditional models of profit efficiency where different regimes are stipulated so that financial institutions can be evaluated in different dimensions—i.e., prices, quantities, or prices and quantities simultaneously. We perform this analysis on the Spanish banking industry, whose institutions have been deeply affected by the current international financial crisis, and where re-regulation is taking place. Our results can be explored in multiple dimensions but, in general, they indicate that the impact of earnings management on profit efficiency is of less magnitude than what might a priori be expected, and that on the whole, savings banks have performed less well than commercial banks. However, savings banks are adapting to the new regulatory scenario and rapidly catching up with commercial banks, especially in some dimensions of performance.

The Network Company in Catalonia : ICT, Productivity, Competitiveness, Salaries and Performance in Catalonia's Companies. Research report (synthesis document)

Resum en anglès del projecte de recerca L'empresa xarxa a Catalunya. TIC, productivitat, competitivitat, salaris i beneficis a l'empresa catalana té com a objectiu principal constatar que la consolidació d'un nou model estratègic, organitzatiu i d'activitat empresarial, vinculat amb la inversió i l'ús de les TIC (o empresa xarxa), modifica substancialment els patrons de comportament dels resultats empresarials, en especial la productivitat, la competitivitat, les retribucions dels treballadors i el benefici. La contrastació empírica de les hipòtesis de treball l'hem feta per mitjà de les dades d'una enquesta a una mostra representativa de 2.038 empreses catalanes. Amb la perspectiva de l'impacte de la inversió i l'ús de les TIC no s'aprecia una relació directa entre els processos d'innovació digital i els resultats de l'activitat de l'empresa catalana. En aquest sentit, hem hagut de segmentar el teixit productiu català per a buscar les organitzacions en què el procés de coinnovació tecnològica digital i organitzativa és més present i en què la intensitat de l'ús del coneixement és un recurs molt freqüent per a poder copsar impactes rellevants en els principals resultats empresarials. Això és així perquè l'economia catalana, avui, presenta una estructura productiva dual.

The Network Company in Catalonia : ICT, Productivity, Competitiveness, Salaries and Performance in Catalonia's Companies. Research report (synthesis document)

Resum en anglès del projecte de recerca L'empresa xarxa a Catalunya. TIC, productivitat, competitivitat, salaris i beneficis a l'empresa catalana té com a objectiu principal constatar que la consolidació d'un nou model estratègic, organitzatiu i d'activitat empresarial, vinculat amb la inversió i l'ús de les TIC (o empresa xarxa), modifica substancialment els patrons de comportament dels resultats empresarials, en especial la productivitat, la competitivitat, les retribucions dels treballadors i el benefici. La contrastació empírica de les hipòtesis de treball l'hem feta per mitjà de les dades d'una enquesta a una mostra representativa de 2.038 empreses catalanes. Amb la perspectiva de l'impacte de la inversió i l'ús de les TIC no s'aprecia una relació directa entre els processos d'innovació digital i els resultats de l'activitat de l'empresa catalana. En aquest sentit, hem hagut de segmentar el teixit productiu català per a buscar les organitzacions en què el procés de coinnovació tecnològica digital i organitzativa és més present i en què la intensitat de l'ús del coneixement és un recurs molt freqüent per a poder copsar impactes rellevants en els principals resultats empresarials. Això és així perquè l'economia catalana, avui, presenta una estructura productiva dual.

Hollywood Films in the Non-Western World: What Are the Criteria Followed by the Chinese Government When Choosing Hollywood Film Imports?

This dissertation argues that the Government of the People’s Republic of China, when it made the decision to import a quota of Hollywood films in 1994 to revive the failing domestic film industry, had different possible criteria in mind. This project has studied four of them: first, importing films that gave a negative image of the United States; second, importing films that featured Chinese talent or themes; third, importing films that were box office hits in the United States; and fourth, importing films with a strong technological innovation ingredient. In order to find out the most important criteria for the Chinese Government, this dissertation offers a dataset that analyzes a population of 262 Hollywood films released in the PRC between 1994 and 2010. For each unit, a method has been developed to compile data that will determine whether the film reflects any of the four criteria, and findings in the form of yearly percentages have been drawn. Results show that, out of the four studied criteria, the two predominant reasons for China to import films were technological innovation and box office hits. This tells us that, at this point, the Chinese Government shows more interest in obtaining big revenues and learning from technically innovative American films than in delivering underlying political messages. This dissertation contributes to the existing literature by analyzing the content of all the films imported by China between 1994 and 2010, while integrating in the analysis variables based on the existing knowledge.

What is the meaning of ‘talent’ in the world of work?

The ongoing confusion about the meaning of ‘talent’ within the world of work is hindering the establishment of widely accepted talent management theories and practices. The aim of this paper is to contribute to the literature on talent management by offering an in-depth review of the talent concept within the specific context of the world of work, and proposing a framework for its conceptualization. We group different theoretical approaches to talent into ‘object’ (i.e., talent as natural ability; talent as mastery; talent as commitment; talent as fit) versus ‘subject’ approaches (i.e., talent as all people; talent as some people) and identify dynamics existing within and between them, as well as implications for talent management theory and practice. Finally, we discuss different avenues for further research aimed at developing the talent—and consequently, the talent management—construct further.

Gender effects on performance in Bulgarian private enterprises

Many of the newly established private enterprises in transition economies in Central and Eastern Europe (CEE) are owned and managed by women (Degtiar, 2000). However, there are limited research and knowledge on gender, management, and organization in CEE (Metcalfe and Afanassieva, 2005) and, particularly, on the performance of female-owned companies. Sporadic empirical evidence shows that female-owned companies have worse performance than male-owned companies in transition economies (Drnovsek and Glas, 2006; Aidis, 2006). The purpose of this paper is twofold. First, we study the factors that affect the performance of female-owned companies in a transition context. Second, we compare how performance varies between female and male-owned businesses in such a context. Combining the Feminist Theory, the Institutional Theory, and the literature on determinants of firm performance, we derive hypotheses about the determinants of the performance of female-owned companies and about gender differences in performance. The proposed hypotheses are tested in a sample of 501 private Bulgarian companies. Our results indicate that a number of individual, organizational, and environmental characteristics are significant determinants of the performance of both female and male-owned companies. Although there are gender differences in performance, they disappear when other factors are controlled for. We conclude with some recommendations for policy implications and place the current results in respect to future research.

Monitoring bank performance in the presence of risk

This paper proposes a managerial control tool that integrates risk in efficiency scores. Building on existing efficiency specifications, our proposal reflects the real banking technology and accurately models the relationship between desirable and undesirable outputs. Specifically, the undesirable output is defined as non-performing loans to capture credit risk, and is linked only to the relevant dimension of the output set. We empirically illustrate how our efficiency measure functions for managerial control purposes. The application considers a unique dataset of Costa Rican banks during 1998-2012. Efficiency scores? implications are mostly discussed at bank-level, and their interpretations are enhanced by using accounting ratios. We also show the usefulness of our tool for corporate governance by examining performance changes around executive turnover. Results confirm that appointing CEOs from outside the bank significantly improves performance, thus suggesting the potential benefits of new organisational practices.

Teaching how to learn with a wiki in Primary Education: what classroom interaction can tell us

Understanding how wikis are used to support collaborative learning is an important concern for researchers and teachers. Adopting a discourse analytic approach, this paper attempts to understand the teaching processes when a wiki is embedded in a science project in primary education to foster collaborative learning. Through studying interaction between the teacher and students, our findings identify ways in which the teacher prompts collaborative learning but also shed light on the difficulties for the teacher in supporting student collective collaboration. It is argued that technological wiki features supporting collaborative learning can only be realized if teacher talk and pedagogy are aligned with the characteristics of wiki collaborative work: the freedom of students to organize and participate by themselves, creating dialogic space and promoting student participation. We argue that a dialogic approach for examining interaction can be used to help to design a more effective pedagogic approach in the use of wikis in education, to shift into Web 2.0 learning paradigm and to equip learners with the competences they need to participate in knowledge co-construction.

Visual performance in preterm infants with brain injuries compared with low-risk preterm infants

Background: Neonatal brain injuries are the main cause of visual deficit produced by damage to posterior visual pathways.While there are several studies of visual function in low-risk preterm infants or older children with brain injuries, research in children of early age is lacking. Aim: To assess several aspects of visual function in preterm infants with brain injuries and to compare them with another group of low-risk preterm infants of the same age. Study design and subjects: Forty-eight preterm infants with brain injuries and 56 low-risk preterm infants. Outcome measures: The ML Leonhardt Battery of Optotypes was used to assess visual functions. This test was previously validated at a post-menstrual age of 40 weeks in newborns and at 30-plus weeks in preterm infants. Results: The group of preterminfants with brain lesions showed a delayed pattern of visual functions in alertness, fixation, visual attention and tracking behavior compared to infants in the healthy preterm group. The differences between both groups, in the visual behaviors analyzed were around 30%. These visual functions could be identified from the first weeks of life. Conclusion: Our results confirm the importance of using a straightforward screening test with preterminfants in order to assess altered visual function, especially in infants with brain injuries. The findings also highlight the need to provide visual stimulation very early on in life.

Regional decomposition of CO2 emissions in the world: a cluster analysis

The purpose of this paper is to study the possible differences among countries as CO2 emitters and to examine the underlying causes of these differences. The starting point of the analysis is the Kaya identity, which allows us to break down per capita emissions in four components: an index of carbon intensity, transformation efficiency, energy intensity and social wealth. Through a cluster analysis we have identified five groups of countries with different behavior according to these four factors. One significant finding is that these groups are stable for the period analyzed. This suggests that a study based on these components can characterize quite accurately the polluting behavior of individual countries, that is to say, the classification found in the analysis could be used in other studies which look to study the behavior of countries in terms of CO2 emissions in homogeneous groups. In this sense, it supposes an advance over the traditional regional or rich-poor countries classifications .

Intelligent PCA contribution analysis for quality estimation in batch processes. Application in a sequencing batch reactor for wastewater treatment

En aquest treball, es proposa un nou mètode per estimar en temps real la qualitat del producte final en processos per lot. Aquest mètode permet reduir el temps necessari per obtenir els resultats de qualitat de les anàlisi de laboratori. S'utiliza un model de anàlisi de componentes principals (PCA) construït amb dades històriques en condicions normals de funcionament per discernir si un lot finalizat és normal o no. Es calcula una signatura de falla pels lots anormals i es passa a través d'un model de classificació per la seva estimació. L'estudi proposa un mètode per utilitzar la informació de les gràfiques de contribució basat en les signatures de falla, on els indicadors representen el comportament de les variables al llarg del procés en les diferentes etapes. Un conjunt de dades compost per la signatura de falla dels lots anormals històrics es construeix per cercar els patrons i entrenar els models de classifcació per estimar els resultas dels lots futurs. La metodologia proposada s'ha aplicat a un reactor seqüencial per lots (SBR). Diversos algoritmes de classificació es proven per demostrar les possibilitats de la metodologia proposada.

Performance in post-compulsory education: evidence from vocational and academic tracks

This paper investigates the factors in_uencing grade performance in two different high school tracks (academic and vocational), including the effect of the amount of work achieved while studying. The empirical strategy analyzes grade progression through the outcomes, passing, repeating and dropping out, conditioning on previous outcomes, and dealing with the endogeneity introduced by the working variable. The analysis is based on a unique Spanish data with information on schooling and labor histories. Findings show that working reduces performance in both tracks, mainly during the first year, although the ffects are less detri- mental in the vocational path. Additionally, good performance in compulsory education, at- tending a private high school, or having high-educated parents improve outcomes, particularly in academic high school.

Deferred effects of nursery school on adolescents' school performance in Spain

This research analysis the long-term effects of nursery school attendance before the age of three in Spain. The effects are measured when the individuals are adolescents and attend secondary school. The article deals with the controversy over the long-term effects of nursery school attendance and its potential effect on reducing inequalities and social exclusion. The results estimate a significant long-term effect of nursery school attendance on improving educational performance, although the beneficial effects are lower among adolescents residing in the lower status households.