Impact of the Financial Crisis on the Performance of European Acquisitions

This study looks at the impact of the recent financial crisis on the short-term performance of European acquisitions. We use institutional theory and transaction cost economic theory to study whether bidders derive lower or higher returns from acquisitions announced after 2008. We investigate shareholders’ stock price reaction to 2245 deals which occurred during 2004–12 across 22 European Union countries. Our results from both univariate and multivariate analysis show that the deals announced in the post-crisis period, corresponding to the period of economic recession, generate higher returns to shareholders as compared to acquisitions announced in the pre-crisis period. We also test the relevance of the Economic and Monetary Union (EMU), that is, the Eurozone, to this value accrual during the recessionary period. We observe that non-EMU transactions obtain significantly higher gains vis-à-vis EMU transactions in the post-crisis years. Overall, announcement returns of European acquisitions have been affected by the financial crisis and the global recession; and companies that target countries with different currency regimes are likely to generate better returns from their acquisitions.

Dificultades del profesorado para planificar, coordinar y evaluar competencias claves. Un análisis desde la Inspección de Educación.

Este artículo presenta una investigación en la que se analizan las dificultades del profesorado para planificar, coordinar y evaluar competencias claves en una muestra de 23 centros educativos. El tema tiene hondas repercusiones ya que una mala praxis educativa de las competencias claves puede conculcar uno de los derechos fundamentales del alumnado a ser evaluado de forma objetiva (LODE: Art.6b y RD 732/1995: Art. 13.1) y poder superar las pruebas de evaluación consideradas necesarias para la obtención del título académico mínimo que otorga el estado español. La investigación se ha desarrollado desde una doble perspectiva metodológica; en primer lugar, es una investigación descriptiva en la que presentamos las características fundamentales de las competencias claves y la normativa básica para su desarrollo y evaluación. En segundo lugar,  aplicamos un procedimiento de análisis con una doble vertiente cualitativa mediante el empleo del programa Atlas-Ti y del enfoque reticular-categorial del análisis de redes sociales con la aplicación de UCINET y el visor yED Graph Editor para abordar el análisis de las principales dificultades y obstáculos detectados. Los resultados muestran que existen serias dificultades en las tres dimensiones analizadas: "planificación", "coordinación" y "evaluación" de competencias clave; especialmente en la necesidad de formación del profesorado, en la evaluación de las competencias, en la metodología para su desarrollo y en los procesos de coordinación interna para su consecución en los centros educativos.

El multilateralismo como intervencionismo. Estados Unidos y la Sociedad de Naciones en América Latina (1930-1946)

Este artículo analiza una dinámica de intervenciones de Estados Unidos en América Latina que no ha atraído suficientemente la atención de los historiadores. En los años treinta y cuarenta, cuando Europa se hundía en una nueva confrontación bélica, ciertos sectores del gobierno y del mundo empresarial norteamericano intentaron articular una nueva relación con los países del continente basada en una propuesta de multilateralismo que se había configurado dentro de la Sociedad de Naciones (SN). Estos estadounidenses intentaron establecer una dinámica de relaciones triangulares con los gobiernos latinoamericanos y los organismos técnicos de la SN. Gracias a ello, como se mostrará en este artículo para el caso del funcionamiento del Comité Fiscal de la Sociedad de Naciones, los latinoamericanos fueron capaces de influir en el tipo de políticas que debían emanar de esta relación triangular. La importancia de esta historia no es menor. La relación triangular entre Estados Unidos, América Latina y la SN sirvió de base para la reconstrucción de la gobernanza global liderada por los Estados Unidos tras la guerra.

On a first-name basis: Englishization and naming in Flanders

Following and contributing to the ongoing shift from more structuralist, system-oriented to more pragmatic, socio-cultural oriented anglicism research, this paper verifies to what extent the global spread of English affects naming patterns in Flanders. To this end, a diachronic database of first names is constructed, containing the top 75 most popular boy and girl names from 2005 until 2014. In a first step, the etymological background of these names is documented and the evolution in popularity of the English names in the database is tracked. Results reveal no notable surge in the preference for English names. This paper complements these database-driven results with an experimental study, aiming to show how associations through referents are in this case more telling than associations through phonological form (here based on etymology). Focusing on the socio-cultural background of first names in general and of Anglo-American pop culture in particular, the second part of the study specifically reports on results from a survey where participants are asked to name the first three celebrities that leap to mind when hearing a certain first name (e.g. Lana, triggering the response Del Rey). Very clear associations are found between certain first names and specific celebrities from Anglo-American pop culture. Linking back to marketing research and the social turn in onomastics, we will discuss how these celebrities might function as referees, and how social stereotypes surrounding these referees are metonymically attached to their first names. Similar to the country-of-origin-effect in marketing, these metonymical links could very well be the reason why parents select specific “celebrity names”. Although further attitudinal research is needed, this paper supports the importance of including socio-cultural parameters when conducting onomastic research.

Rethinking the Eclectic Paradigm: Explaining MNE E-Commerce Corporations' Activity in the Chinese Digital Sector

We use the eclectic paradigm as an analytical framework to explain the MNE e-commerce company’s activities in China. Grounded in the rich data, we argue that the dynamic interplay between the ownership advantage and local institutional context that have emerged—particularly in the information age—plays a significant role in explaining the trajectory of MNE e-commerce companies in China. We propose On, Ln and In by embedding network-based advantages within the OLI paradigm. With the acceleration of technological change and non-ergodic uncertainty, such a network-embedded eclectic paradigm will lead to MNE e-commerce companies’ sustainable development in the emerging economy.

The art of building trust via e-communication channels: Post-acquisition integration as a special context

This study discusses the importance of establishing trust in post-acquisition integration context and how the use of e-channels facilitates or inhibits this process. The objective of this study is to analyze how the use of electronic communication channels influences the post-acquisition integration process in terms of trust establishment and overall integration efficiency, developing a framework as a result. Three sub-objectives are introduced: to find out the building blocks of trust in M&A’s, to analyse how the use of e-channels influence the process of trust establishment in post-acquisition integration context, and to define the consequences trust and use of e-channels have for the process. The theoretical background of the study includes literature and theories relating to trust establishment in post-acquisition integration context and how the use of e-channels influences the process of trust development on a general level. The empirical research is conducted as a single case study, based on key informant interviews. The interview data was collected between October 2015 and January 2016. Altogether nine interviews were realised; six with representatives from the acquiring firm and three with target firm members. Thematic analysis was selected as the main method for analysing and processing the qualitative data. This study finds that trust has an essential role in post-acquisition integration context, facilitating the integration process in various different ways. Hence, identifying the different building blocks of trust is important in order for members of the organisations to be better able establish and maintain trust. In today’s international business, the role of electronic communication channels has also increased in importance significantly and it was confirmed that these pose both challenges and possibilities for the development of interpersonal trust. One of the most important underlying factors influencing the trust levels via e-communication channels is the level of user’s comfort in using the different e-channels. Without sufficient and meaningful training, the communication conducted via these channels in inhibited in a number of ways. Hence, understanding the defining characteristics of e-communication together with the risks and opportunities related to the use of these can have far-reaching consequences for the post-acquisition integration process as a whole. The framework based on the findings and existing theory introduces the most central factors influencing the trust establishment together with the positive and negative consequences these have for the integration process. Moreover, organizational level consistency and the existence of shared guidelines on appropriate selection of communication channels according to the nature of the task at hand are seen as important

Online marketing internationally: Bizpartner and the parallel cases of Portugal and Greece

This report is the result of the curricular internship carried out in Bizpartner, a company from Slovakia, for the Master’s degree in Languages and Business Relations. The objective of this report is to present the activities developed during the internship, as well as a brief study of how Bizpartner internationalizes and the different results obtained from Portugal, Greece and the United Kingdom. There is a contextualization of Slovakia, Bizpartner and Internationalization, followed by the specific cases of Portugal, Greece and the United Kingdom. Finally, there is a reflection on all the work done, attempting to relate the internship with the knowledge acquired during the course.

A systematic literature review of the current trends and challenges of internationalization of higher education in Latin America

This paper aims to consolidate a sample of existing academic literature on the modes, trends, risks and challenges of the internationalization of higher education in Latin America published over the last 15 years -- Following a systematic literature review methodology, it was seeking to analyze and synthesize a sample of 25 published academic articles on the specifically chosen topic -- As a consequence of this review, it was found that progress has been made on the subject and there is an awareness of the impact it has on quality, international indicators still lag far behind those of more developed regions -- The creation and implementation of accreditation and evaluations processes, the commodification of higher education and the presence of new providers and regionalization efforts were perceived as trending topics in the publications -- Risks and challenges such as lack of governmental support and brain drain, are respectively perceived by researchers as the most concerning -- Finally, an emphasis is made on the comprehensiveness that must characterize this process in order to be successful, meaning that it should “embrace all the educational processes” (Gacel-Ávila, 2007, 406)

Societal human resources management and development

Based on a broad conceptualization of Human Resources Management and Development (HRMD) as a technical, political, and strategic field concerned to managing and developing people within and towards work context(s), this research aims to explore a potential societal role of Human Resources (HR) profession. Framed on a larger project on “New Human Resources roles”, this particular study approaches HR profession by analysing its macro-societal challenges and intervention spaces.

Individual human resource management and development: career management

Framed on a wider project on Individual Human Resource Management and Development (HRMD), this project aims to explore Individual Career Management and Development (CMD) as an emergent professional field of HRMD.

La antropología aplicada a los negocios internacionales: encuentros y desencuentros

Este artículo plantea una reflexión en torno a la aplicación de las teorías y métodos de la antropología en algunos aspectos prácticos de la administra­ción que interesan a los negocios internacionales, tales como como la cultura organizacional, la investigación de mercados y la dimensión intercultural que caracteriza a esta actividad en el ámbito global. Se exploran algunas fuentes bibliográficas y aportes de investigadores representativos que ilustran sobre el desarrollo profesional y académico y los debates que se generan en el interior de esta sub-especialidad de la antropología en la Contemporaneidad. Se con­cluye que instrumentalizar el conocimiento científico sobre el comportamiento cultural al servicio del poder corporativo plantea problemas de orden ético. 

Information and communication technologies in tourism: challenges and trends

The integration of Information and Communication Technologies (ICT) in the tourism industry is an essential element for the success of any tourism enterprise. ICTs provide access to information of tourism products from anywhere and at any time. Tour companies may also reach out to target customers around the world through a series of emerging technologies. This paper aims to make a review of the main key factors of ICT in Tourism. Aspects such as the quality of the website, Digital Marketing, Social Networking, Multimedia, Mobile Technologies and Intelligent Environments are discussed.