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.

Hausman tests for inefficient estimators: application to demand for health care service (revised)

The Hausman (1978) test is based on the vector of differences of two estimators. It is usually assumed that one of the estimators is fully efficient, since this simplifies calculation of the test statistic. However, this assumption limits the applicability of the test, since widely used estimators such as the generalized method of moments (GMM) or quasi maximum likelihood (QML) are often not fully efficient. This paper shows that the test may easily be implemented, using well-known methods, when neither estimator is efficient. To illustrate, we present both simulation results as well as empirical results for utilization of health care services.

Technical innovations at the service of cheaper labour in pre-industrial Europe. The Enlightened agenda to transform the gender division of labour in silk manufacturing

In 1749, Jacques de Vaucanson patented his or tour pour tirer la soie or spindle for silk reeling. In that same year he presented his invention to the Academy of the Sciences in Paris, of which he was a member1. Jacques de Vaucanson was born in Grenoble, France, in 1709, and died in Paris in 1782. In 1741 he had been appointed inspector of silk manufactures by Louis XV. He set about reorganizing the silk industry in France, in considerable difficulty at the time due to foreign competition. Given Vaucanson’s position, his invention was intended to replace the traditional Piémontes method, and had an immediate impact upon the silk industry in France and all over Europe.

Trans-Atlantic Pedagogy for Teaching Pre-Service Teachers ICT: Bringing forward cultural issues

Projecte de recerca elaborat a partir d’una estada a la Universitat de Toronto, Canadà, des d’octubre del 2006 a febrer del 2007. El projecte Barchito és un projecte Interrnacional que va involucrar tres universitats: La Universitat Autònoma de Barcelona, la Universitat de Toronto (Canadà) i la Universitat de Roosevelt (USA). El seu objectiu principal era posar en contacte estudiants de les tres universitats (de tres cursos diferents) per discutir al voltant de temes com ara l'ensenyament/aprenentatge i elements culturals de cada país. Aquest projecte presenta la natura de l'experiència des de la visió dels participants: alumnat i professorat. Superant diferències inicials de llengua, els participants van aprendre d'altra cultura, van aprendre sobre altres maneres d'ensenyar i van aprendre, en definitiva, sobre ells mateixos. L'eina d'aprenentatge col.laboratiu els va ajudar a sobrepassar el context immediat, emprant per això, l'eina tecnològica anomenada: Knowledge Forum.

Scheduled service versus personal transportation: the role of distance

This paper analyzes both theoretically and empirically the relationship between distance and frequency of scheduled transportation services. We study the interaction between a monopoly firm providing high-speed scheduled service and personal trans- portation (i.e., car). Most interestingly, the carrier chooses to increase frequency of service on longer routes when competing with personal transportation because provid- ing a higher frequency (at extra cost) it can also charge higher fares that can boost its profits. However, when driving is not a relevant option, frequency of service de- creases for longer flights consistently with prior studies. An empirical application of our analysis to the European airline industry con?rms the predictions of our theoretical model.

Scheduled Service Versus Personal Transportation: The Role of Distance

This paper presents a theoretical and empirical analysis of the relationship be- tween frequency of scheduled transportation services and their substitutability with personal transportation (using distance as a proxy). We study the interaction between a monopoly firm providing a high-speed scheduled service and private transportation (i.e., car). Interestingly, the carrier chooses to increase the frequency of service on longer routes when competing with personal transportation because by providing higher frequency (at extra cost) it can also charge higher fares which can boost its profits. However, in line with the results of earlier studies, frequency decreases for longer flights when driving is not a viable option. An empirical application of our analysis to the European airline industry confirms the predictions of our theoretical model. Keywords: short-haul routes; long-haul routes; flight frequency; distance JEL Classification Numbers: L13; L2; L93

Service offshoring and white-collar employment

This paper empirically studies the effects of service offshoring on white-collar employment, using data for more than one hundred U.S. occupations. A model of firm behavior based on separability allows to derive the labor demand elasticity with respect to service offshoring for each occupation. Estimation is performed with Quasi-Maximum Likelihood, to account for high degrees of censoring in the employment variable. The estimated elasticities are then related to proxies for the skill level and the degree of tradability of the occupations. Results show that service offshoring increases high skilled employment and decreases medium and low skilled employment. Within each skill group, however, service offshoring penalizes tradable occupations and benefits non-tradable occupations.

Employment effects of service offshoring: evidence from matched firms

This paper studies the effects of service offshoring on the level and skill composition of domestic employment, using a rich data set of Italian firms and propensity score matching techniques. The results show that service offshoring has no effect on the level of employment but changes its composition in favor of high skilled workers.

Service offshoring and the skill composition of labor demand

This paper studies the effects of service offshoring on the skill composition of labor demand, using novel comparable data for nine Western European countries between 1990 and 2004. The empirical analysis delivers three main results. First, service offshoring is skill-biased, because it increases the demand for high and medium skilled labor and decreases the demand for low skilled labor. Second, the effects of service offshoring are similar to those of material offshoring, both qualitatively and quantitatively. Third, the economic magnitude of these effects is not large.

Accounting for Big City Growth in Low Paid Occupations: Immigration and/or Service Class Consumption

Growth of 'global cities' in the 1980s was supposed to have involved an occupational polarisation, including growth of low paid service jobs. Though held to be untrue for European cities, at the time, some such growth did emerge in London a decade later than first reported for New York. The question is whether there was simply a delay before London conformed to the global city model, or whether another distinct cause was at work in both cases. This paper proposes that the critical factor in both cases was actually an upsurge of immigration from poor countries providing an elastic supply of cheap labour. This hypothesis and its counterpart based on growth in elite jobs are tested econometrically for the British case with regional data spanning 1975-2008, finding some support for both effects, but with immigration from poor countries as the crucial influence in late 1990s London. Keywords: regional labour markets; wages; employment; international migration; consumer demand JEL Codes: J21, J23, F22, R12

Anàlisi. Disseny i implementació d'una utilitat de Workflow aplicat a una web de gestió d'un centre de Reclamacions i Queixes mitjançant J2EE : una solució amb Struts i EJBs

El treball final de carrera està compost de l¿anàlisi, disseny i implementació d'una utilitat de Workflow que dóna servei a una web per gestionar les reclamacions i queixes d'una empresa. La part del Workflow s'ha pensat per ser totalment configurable a les particularitats d'un determinat aplicatiu i per donar servei a tantes aplicacions com faci falta simultàniament.L'anàlisi i el disseny s'han basat en la metodologia UML dins el paradigma de l'Orientació a Objectes juntament amb diversos patrons de disseny com pot ser el MVC que ha permès separar completament la lògica de negoci (Workflow) de la presentació (Web). Per les 2 parts: Workflow i web s¿ha fet ús d'una arquitectura distribuïda.

Diseño y Desarrollo de un cliente Web Processing Service (WPS) para gvSIG

Estudi dels estàndards definits per l'Open Geospatial Consortium, i més concretament en l'estàndard Web Processing Service (wps). Així mateix, ha tingut una component pràctica que ha consistit en el disseny i desenvolupament d'un client capaç de consumir serveis Web creats segons wps i integrat a la plataforma gvSIG.

Disseny d'un sistema de gestió per a una cambra de congelació robotitzada de masses congelades.

Alguns dels grans fabricants del sector de les masses congelades fan servir robots per a l'emmagatzematge, servei i gestió dels productes de les cambres de congelació. Aquests robots només emmagatzemen i serveixen palets de caixes d'un mateix tipus de producte; així, doncs, només són útils quan el client és un gran consumidor, com un distribuïdor o una delegació, però no un petit comerç, com un restaurant o una fleca, els quals també són clients potencials del fabricant. Per tant, el problema es planteja en el moment de servir els clients que tenen problemes d'emmagatzematge, els quals es veuen obligats a fer comandes de diversos productes, que, a més, en total no fan ni de bon tros un palet sencer. A partir d'aquí la idea és dissenyar un sistema, emprant la tècnica de l'orientació a objectes (O-O), que gestioni un conjunt de robots que, a més d'emmagatzemar i gestionar una cambra de congelació, siguin capaços de servir les comandes fent una selecció de caixes de productes concrets, és a dir, les que sol·licita el client que ha fet la comanda per caixes i no per palets. Per qüestions d'organització i d'estocs, aquests robots han de ser independents dels altres, és a dir, han de treballar en una cambra independent de la dels robots que treballen per palets (actualment aquesta feina la fan treballadors dins una cambra independent de la dels robots).

Les Tecnologies de la Informació i la Comunicació al servei de l'orientació psicopedagògica

El treball que es presenta a continuació se centra en la descripció i anàlisi d'un servei d'orientació psicopedagògica de l'àmbit universitari per a, a continuació, elaborar una proposta d'implementació de les TIC (tecnologies de la informació i la comunicació) en el seu si com a estratègia d'optimització de recursos.