Corporate social responsibility and inventory policy

In this article, we study the impact of implementing corporate social responsible (CSR) practices on a firm’s inventory policy. Our proposal is that there is an inverted U-shape relationship between firms’ CSR and their inventory levels. Two elements explain such proposal. First, stakeholders have different interests regarding the outcome of the inventory system. Specifically, we hypothesize that customers pressure firms to increase inventories; employees have conflicting views regarding inventories and, for this reason, they do not pressure firms in a particular direction; and environmental activists force firms to reduce inventories. The second reason is that there is different level of stakeholder proactiveness contingent on the intensity in the implementation of social responsible policies. In particular, we posit that for low levels of CSR, customers are more relevant, while for larger levels other stakeholders gain more importance. We test this theoretical prediction by crossing two databases, COMPUSTAT, for financial data, and KLD for data on social responsibility. Our final database contains data on 1881 different US companies for the period 1996-2006. The results found conform to our theoretical prediction. Our analysis will be helpful to strategic and tactical decision-making processes on inventory management and will allow researchers to offer concrete advice on the likely outcomes of various stakeholder relationship practices in order to improve the effectiveness of inventory systems. Additionally, the connection between CSR and inventory policies has interest at a macroeconomic level given that, on the one hand, there is a growing tendency for firms to behave in a socially responsible way. On the other, inventories are responsible for up to 87% of the total peak-to-trough movement in GDP. Thus, our results suggest that this tendency to incorporate the social dimension in firms’ strategy should smooth out the overall economic cycle given that firms apply more intensive CSR policies in the expansive periods (decreasing inventories) rather than during the downturns (increasing inventories).Corporate social responsibility, Stakeholders, Inventories

Product portfolio performance in new foreign markets: the EU trademark dual system

How do intellectual propriety rights (IPRs) help firms profit from their innovation? Innovation literature frequently turns to patents to measure innovative IPR, but more recent work shifts focus to the other side of IPR, namely, trademarks. This article therefore discusses the effects of trademark strategies when companies decide to introduce their product portfolios in a new foreign market. Entrants might opt for a common trademark across different country markets (integration) or use several country-specific trademarks (responsiveness). This empirical study exploits the quasi-natural experiment created by the tariff shock that affected Spain when it joined the European Union in the 1990s. Data from the automotive industry reveal how non-European companies that already operated in other European countries sought to enter Spain rapidly, using various trademark strategies. The product portfolio characteristics are fixed at entry, so this study can specify how and when trademark responsiveness versus integration affects firm performance. The results reveal that trademark responsiveness increases firm performance if the firms suffer high liabilities of foreignness or newness.Martina Pasquini thanks the European Union support through the Marie Sklodowska-Curie grant number 655676 financed by the Horizon 2020 program. Alicia Barroso thanks the Ramón Areces Foundation

Crowding, satiation, and saturation: the days of television series' lives

The performance of firms depends not just on the structure of the industries in which they compete but also on their relative positioning within those industries, in terms of operating within particular niches. We propose that demand for these niches depends endogenously on the historical ecology of the products offered: Niches become saturatedreduced in their ability to support productsas a large number of previous offerings allows the audience to satisfy its desire for products of a particular type. Analyzing the survival rates of television series aired in the United States from 1946 to 2003, we found that the survival rates of future entrants fell with the extensiveness of recent offerings in the niche, and that the negative association between crowding and survival also weakened with this saturation.We gratefully acknowledge financial support from the Italian Ministry of University and Research (project CUP B41J12000160008), the Ministerio de Economia y Competitividad in Spain (Grant ECO2012-34734), and the Juan de la Cierva Fellowship Programme of the Ministry of Science and Innovation of Spain

La novela negra de Andreu Martín : el camino hasta Prótesis

Trabajo de fin de Grado. Grado en Filología Hispánica. Curso académico 2015-2016[ES]El objetivo de este estudio es un análisis de la narrativa de género negro de Andreu Martín poniendo como principal ejemplo Prótesis, su novela más valorada por los críticos de este tipo de género. El trabajo está dividido en varias secciones a través de las cuales iremos concentrando el interés poco a poco hacia el principal objetivo de este estudio. Primero analizaremos los principales exponentes del género policiaco en España y su situación en la historia de la literatura del país. La literatura de género policiaco y negro ha sido valorada por los críticos de manera muy diversa, siendo considerada en sus inicios como literatura popular que goza de gran éxito en la actualidad. Tras este rápido repaso de la narrativa negra por la historia de la literatura de género nos centramos en uno de los máximos exponentes de la novela negra española, entre los que se encuentra Andreu Martín. Este autor centra la mayoría de su producción literaria en una narrativa para adultos. Su obra se caracteriza por su exposición del género negro: la sociedad de su época queda expuesta a través de una dura crítica social y política cuyos personajes se mueven en un ambiente urbano caracterizado por la marginalidad y la corrupción en la que el poder y la violencia quedan expuestos ante una brutalidad y visceralidad que caracteriza al autor

Corporate social responsibility and inventory policy

In this article, we study the impact of implementing corporate social responsible (CSR) practices on a firm’s inventory policy. Our proposal is that there is an inverted U-shape relationship between firms’ CSR and their inventory levels. Two elements explain such proposal. First, stakeholders have different interests regarding the outcome of the inventory system. Specifically, we hypothesize that customers pressure firms to increase inventories; employees have conflicting views regarding inventories and, for this reason, they do not pressure firms in a particular direction; and environmental activists force firms to reduce inventories. The second reason is that there is different level of stakeholder proactiveness contingent on the intensity in the implementation of social responsible policies. In particular, we posit that for low levels of CSR, customers are more relevant, while for larger levels other stakeholders gain more importance. We test this theoretical prediction by crossing two databases, COMPUSTAT, for financial data, and KLD for data on social responsibility. Our final database contains data on 1881 different US companies for the period 1996-2006. The results found conform to our theoretical prediction. Our analysis will be helpful to strategic and tactical decision-making processes on inventory management and will allow researchers to offer concrete advice on the likely outcomes of various stakeholder relationship practices in order to improve the effectiveness of inventory systems. Additionally, the connection between CSR and inventory policies has interest at a macroeconomic level given that, on the one hand, there is a growing tendency for firms to behave in a socially responsible way. On the other, inventories are responsible for up to 87% of the total peak-to-trough movement in GDP. Thus, our results suggest that this tendency to incorporate the social dimension in firms’ strategy should smooth out the overall economic cycle given that firms apply more intensive CSR policies in the expansive periods (decreasing inventories) rather than during the downturns (increasing inventories)

La prudencia política a la luz del pensamiento de Nicolás Maquiavelo. Una metáfora.

La prudencia maquiavélica consiste en la habilidad o aptitud para prevenirse de los inconvenientes que pueden acompañar a la acción política concreta, y a la vez proveerse de los medios o recursos, carentes por sí mismo de valor, para utilizarlas con la máxima ventaja en su debida ocasión

Enhanced chondrogenic potential in GelMA-based 3D cartilage model via Wnt3a surface immobilization

Cartilage tissue engineering aims to develop functional substitutes for treating cartilage defects and osteoarthritis. Traditional two-dimensional (2D) cell culture systems lack the complexity of native cartilage, leading to the development of 3D regenerative cartilage models. In this study, we developed a 3D model using Gelatin Methacryloyl (GelMA)-based hydrogels seeded with Y201 cells, a bone marrow mesenchymal stem cell line. The model investigated chondrogenic differentiation potential in response to Wnt3a stimulation within the GelMA scaffold and validated using known chondrogenic agonists. Y201 cells demonstrated suitability for the model, with increased proteoglycan content and upregulated chondrogenic marker expression under chondrogenic conditions. Wnt3a enhanced cell proliferation, indicating activation of the Wnt/β-catenin pathway, which plays a role in cartilage development. GelMA hydrogels provided an optimal scaffold, supporting cell viability and proliferation. The 3D model exhibited consistent responses to chondrogenic agonists, with TGF-β3 enhancing cartilage-specific extracellular matrix (ECM) production and chondrogenic differentiation. The combination of Wnt3a and TGF-β3 showed synergistic effects, promoting chondrogenic differentiation and ECM production. This study presents a 3D regenerative cartilage model with potential for investigating cartilage biology, disease mechanisms, and drug screening. The model provides insights into complex cartilage regeneration mechanisms and offers a platform for developing therapeutic approaches for cartilage repair and osteoarthritis treatment

Enhanced chondrogenic potential in GelMA-based 3D cartilage model via Wnt3a surface immobilization

Cartilage tissue engineering aims to develop functional substitutes for treating cartilage defects and osteoarthritis. Traditional two-dimensional (2D) cell culture systems lack the complexity of native cartilage, leading to the development of 3D regenerative cartilage models. In this study, we developed a 3D model using Gelatin Methacryloyl (GelMA)-based hydrogels seeded with Y201 cells, a bone marrow mesenchymal stem cell line. The model investigated chondrogenic differentiation potential in response to Wnt3a stimulation within the GelMA scaffold and validated using known chondrogenic agonists. Y201 cells demonstrated suitability for the model, with increased proteoglycan content and upregulated chondrogenic marker expression under chondrogenic conditions. Wnt3a enhanced cell proliferation, indicating activation of the Wnt/β-catenin pathway, which plays a role in cartilage development. GelMA hydrogels provided an optimal scaffold, supporting cell viability and proliferation. The 3D model exhibited consistent responses to chondrogenic agonists, with TGF-β3 enhancing cartilage-specific extracellular matrix (ECM) production and chondrogenic differentiation. The combination of Wnt3a and TGF-β3 showed synergistic effects, promoting chondrogenic differentiation and ECM production. This study presents a 3D regenerative cartilage model with potential for investigating cartilage biology, disease mechanisms, and drug screening. The model provides insights into complex cartilage regeneration mechanisms and offers a platform for developing therapeutic approaches for cartilage repair and osteoarthritis treatment