IFRS introduction and its effect on listed companies in Spain

From the beginning of January 2005 publicly traded companies in the European Union have to comply with the International Financial Reporting Standards (IFRS) for their consolidated accounts, as required by 1606/2002 European Commission Regulation. It had been suggested that the new accounting rules will facilitate not only the process of international harmonization of financial statements, but also efficient performance of financial markets and capital flows worldwide. This study analyzes the first results of IFRS implementation by Spanish non-financial listed companies.IFRS, IAS, Accounting harmonization

High-growth cooperatives: financial profile and key factors for competitiveness

Given the current economic environment, high-growth companies are particularly relevant for their contribution to employment generation and wealth. This paper discusses the results of a survey that was conducted in order to gain a deeper understanding of high-growth cooperatives through analyzing their financial profiles and then identifying key contributing factors to their growth. To do this, we compared this particular sample with other cooperatives and other high-growth mercantile companies. The results show the main drivers related to high-growth companies success. They are the competitive advantages based on the surveyed group, modern management techniques, quality and productivity, innovation and internationalization. Additionally, we have observed some financial strengths and weaknesses. In this sense, they are under capitalized companies with an unbalanced growth.Worker cooperatives, service cooperatives, high-growth cooperatives, competitiveness factors, financial information, management tools.

High-growth cooperatives: Financial profile and key factors for competitiveness

Given the current economic environment, high-growth companies are particularly relevant for their contribution to employment generation and wealth. This paper discusses the results of a survey that was conducted in order to gain a deeper understanding of high-growth cooperatives through analyzing their financial profiles and then identifying key contributing factors to their growth. To do this, we compared this particular sample with other cooperatives and other high-growth mercantile companies. The results show the main drivers related to high-growth companies success. They are the competitive advantages based on the surveyed group, modern management techniques, quality and productivity, innovation and internationalization. Additionally, we have observed some financial strengths and weaknesses. In this sense, they are under capitalized companies with an unbalanced growth.Worker cooperatives, service cooperatives, high-growth cooperatives, competitiveness factors, financial information, management tools.

Manipulation of earnings reports in Spain - some evidence

Accounting regulation is a highly topical issue for listed companies in Europe. From 1 January 2005 all companies listed in the EU member states are required to produce financial reports compliant with international accounting standards. Financial reports will be comparable with each other only if full compliance with the international standards can be ensured. Historically, however, an enduring weakness of the international standard-setting regime has been its inability to enforce compliance with its standards. There is a danger that implementation and compliance will be variable across the adopting countries, and that deeply ingrained national reporting practices will persist. The purpose of this paper is to examine some distinctive elements of Spanish financial reporting practices. Spanish financial reporting by major companies demonstrates a tendency towards quite overt manipulation of the earnings figures. The research reported in the paper firstly identifies four common earnings manipulation practices, and then proceeds to examine their incidence in the financial statements of the IBEX-35 companies over a three year period.Financial reporting, Spain, earnings manipulation, IBEX-35

Earnings management in Spain. Some evidence from companies quoted in the Spanish stock exchange

After the accounting scandals that have taken place mainly in the United States during the last years, some Spanish leading authorities have defended the idea that this kind of accounting problems cannot happen in Spain. They argue that accounting regulation in Europe, and specifically in Spain, make more difficult the use of creative accounting practices. The objective of this paper is to identify some evidence about the situacion in Spain. The study tries to demonstrate that some accounting practices of several of the companies quoted in the Spanish Stock Exchange could be qualified as earnings management. To carry out this study, the authors have analysed the accounts of the 35 companies included in the stock market index IBEX 35. This index is calculated with the share prices variations of the most important companies quoted in the Spanish Stock Exchange.accounting regulation, creative accounting, earnings management, financial accounting, IAS, Spain, IBEX 35

Edicions Catalanes de París. Aproximación a la historia de una editorial atípica

L’article pretén explicar l’origen d’Edicions Catalanes de París, plataforma editorial ideada per Josep Benet a mitjan anys seixanta i que va publicar el seu primer llibre l’any 1969. A partir de la documentació personal conservada als arxius d’alguns dels seus protagonistes més destacats, es reconstrueix la història interna i el catàleg d’una empresa pensada per publicar a l’estranger llibres que la censura hauria prohibit a Espanya i per combatre alhora les fractures ideològiques que s’estaven produint en aquell moment dins del camp hegemònic del nacionalisme progressista. L’article posa de manifest també les tensions viscudes entre alguns dels polítics que al cap de molt poc temps desenvoluparien un paper essencial en la política catalana de la transició.El artículo pretende explicar el origen de Ediciones Catalanas de París, plataforma editorial ideada por Josep Benet a mediados de los años sesenta y que publicó su primer libro en 1969. A partir de la documentación personal conservada en los archivos de algunos de sus protagonistas más destacados, se reconstruye la historia interna y el catálogo de una empresa pensada para publicar en el extranjero libros que la censura habría prohibido en España y para combatir las fracturas ideológicas que se estaban produciendo en ese momento dentro del campo hegemónico del nacionalismo progresista. El artículo pone de manifiesto también las tensiones vividas entre algunos de los políticos que al cabo de muy poco tiempo desarrollarían un papel esencial en la política catalana de la transición

Quatre cartes de Joan Ferraté a Albert Manent

Jordi Amat publica, anota i comenta quatre cartes de Joan Ferraté a Albert Manent escrites durant la primera meitat dels anys 50. Són documents que reflecteixen lúcidament el pes d'un sector important de la crítica literària catalana d'aquell temps. Entre altres temes, Ferraté hi parla de la poesia de Carles Riba, demostra l'interès per Josep Carner o es refereix a la traducció de la poesia de T.S. Eliot