Corporate Social Responsibility as a Strategic Opportunity for Small Firms during Economic Crises

The aim of this study is to analyze if there is a direct causal relationship between small firms’ orientation toward corporate social responsibility and their competitive success, mediated by innovation and performance. A structural equation model has been applied to a sample of 758 small Spanish firms. The results indicate that, in times of economic crisis, socially responsible strategies are a determining factor in firms’ competitiveness. Pragmatic advice for practitioners derives from research results, considering that social responsibility represents an opportunity for small firms in the complex and turbulent time. The findings encourage small firms to manage operations responsibly as a guarantee of market success

The impact of corporate social responsibility performance on earnings management: Family versus non-family firms

The study analyses the impact of corporate social responsibility performance on earnings management in family firms as compared with non-family firms. We analysed 650 Spanish firms, listed and unlisted, in the period 2011-2016. The result shows a higher quality of financial information in family firms, a relationship which is reinforced by good governance factors, including the participation of women in management. The factors analysed are supported by agency and institutional theories. The study contributes to reducing the gap in the literature on the quality of financial information associated with family firms vs. non family firms.info:eu-repo/semantics/acceptedVersio

The effect of corporate governance factors on the quality of financial reporting in family and non-family firms

The objective of this study is to explore the quality of financial information of Spanish firms, by comparing family firms with non-family firms, and relating this quality with corporate governance practices. For this purpose, a sample of 650 Spanish firms was analysed during the period 2011-2016. Based on agency theory and socioemotional wealth literature, the results show a higher quality of financial information in family firms, a relationship which is reinforced by corporate governance factors. Our results are consistent with the scant previous research, and with the premises of agency theory, which indicate lower asymmetry of information between owners and managers in the singular context of family firms. Additionally, our work provides evidence that the participation of women on the board boosts the quality of financial information in family firms, contributing to the justification of family firm heterogeneity in terms of earnings management. This study contributes to reducing the gap in the literature on the influence of the family business context and the influence of women on the board on the quality of financial reporting.info:eu-repo/semantics/publishedVersio

Governação das sociedades e qualidade da informação financeira em empresas familiares versus não familiares

O presente estudo analisa a qualidade da informação financeira em empresas familiares versus não familiares, relacionando medidas de transparência na governação das sociedades. Foram analisadas 650 empresas espanholas, cotadas e não cotadas, no período de 2011-2016. O resultado demonstra a maior qualidade da informação financeira em empresas familiares, relação que é reforçada pela participação de mulheres na administração, experiência da empresa e intangibilidade de ativos. Os fatores analisados estão suportados nas teorias da agência, da riqueza socio-emocional e institucional. O estudo contribui para reduzir a lacuna na literatura sobre qualidade da informação financeira associada à governação familiar versus não familiar.info:eu-repo/semantics/acceptedVersio

Earnings management and corporate social responsibility: Family and non-family firms

El presente estudio investiga la relación entre las prácticas de earnings management y la Responsabilidad Social Corporativa (RSC) en empresas familiares y no familiares. Se analizaron 135 empresas francesas cotizadas en el período 2011-2016. Los resultados muestran menores niveles de earnings management en las empresas familiares, mientras que las acciones de RSC también surgen asociadas positivamente a la mayor calidad de la información financiera. Adicionalmente, observamos la heterogeneidad de las empresas familiares en lo que respecta a la relación con el RSC, verificándose niveles más elevados de gestión del resultado cuando se trata del mantenimiento del valor de mercado de las acciones. Este resultado parece estar asociado a la preservación de la riqueza financiera de la familia que se superpone a los efectos de las acciones de RSC en el refuerzo de la transparencia, aspecto corroborado para medidas alternativas de earnings management. Las evidencias obtenidas agregan valor a la investigación previa en la compleja relación de la calidad de la información financiera en empresas familiares frente a no familiares.info:eu-repo/semantics/publishedVersio

Robust ASR using Support Vector Machines

The improved theoretical properties of Support Vector Machines with respect to other machine learning alternatives due to their max-margin training paradigm have led us to suggest them as a good technique for robust speech recognition. However, important shortcomings have had to be circumvented, the most important being the normalisation of the time duration of different realisations of the acoustic speech units. In this paper, we have compared two approaches in noisy environments: first, a hybrid HMM–SVM solution where a fixed number of frames is selected by means of an HMM segmentation and second, a normalisation kernel called Dynamic Time Alignment Kernel (DTAK) first introduced in Shimodaira et al. [Shimodaira, H., Noma, K., Nakai, M., Sagayama, S., 2001. Support vector machine with dynamic time-alignment kernel for speech recognition. In: Proc. Eurospeech, Aalborg, Denmark, pp. 1841–1844] and based on DTW (Dynamic Time Warping). Special attention has been paid to the adaptation of both alternatives to noisy environments, comparing two types of parameterisations and performing suitable feature normalisation operations. The results show that the DTA Kernel provides important advantages over the baseline HMM system in medium to bad noise conditions, also outperforming the results of the hybrid system.Publicad

Presence of endophytic fungi in cacao plantations (Theobroma cacao L.), in the state of Tabasco, Mexico

The present work was done with the objective of identifying endophytic fungi associated with Theobroma cacao L. In Centro, Cunduacán and Comalcalco, locations into the state of Tabasco. The molecular identity used was the region of the Internal Transcribed Spaces (ITS), ITS 1 and ITS 4. Identifying fifteen fungal strains, grouped into thirteen different species, belonging to As-comycota phylum; distributed in three different classes: Dothideomycetes, Eurotiomi-cetos and Sordariomycetes. It is important to mention that it is the first record of Endomelanconiopsis endophytica and freycinetiae founded in cacao in Tabasco. In addition, we also identified Aspergillus foetidus, fischeri, de-licatus arcoverdensis; Thielaviopsis ethacetica, Cophinforma atrovirens, Neuros-pora udagawae, Diaporthe miriciae, Nodulisporium indicum, Cophinforma atrovirens; Colletotrichum tainanense y hebeiense. Many of this endophytic fungi are secondary metabolites and antioxidants producers that can be used in medical industry or for biological control of phytopathogenic diseases, such as Moniliophthora roreriObjective: the present work was done with the objective of identifying endophytic fungi associated with Theobroma cacao L. in Centro, Cunduacán and Comalcalco, locations in the state of Tabasco, Mexico. The molecular identity used was the region of the Internal Transcribed Spaces (ITS), ITS 1 and ITS 4. Design/methodology/approach: the study identified 15 fungal strains, grouped into 13 different species, belonging to the Ascomycota phylum, distributed in three different classes: Dothideomycetes, Eurotiomicetos and Sordariomycetes. It is important to mention that it is the first record of Endomelanconiopsis endophytica and freycinetiae found in cacao in Tabasco. In addition, we also identified Aspergillus foetidus, fischeri, delicatus arcoverdensis; Thielaviopsis ethacetica, Cophinforma atrovirens, Neurospora udagawae, Diaporthe miriciae, Nodulisporium indicum, Cophinforma atrovirens; Colletotrichum tainanense y hebeiense. Findings/conclusions: Many of these endophytic fungi produce secondary metabolites and antioxidants that can be used in the medical industry or for biological control of phytopathogenic diseases, such as Moniliophthora roreri

Micro-morphologies, habitats and associated biodiversity in a fluid venting submarine structure using ROV underwater images: Mercator mud volcano (Gulf of Cádiz)

Mercator mud volcano has been explored by direct visual observations using a ROV at 350 to 370 m depth. Underwater images, taken mainly at the summit, have allowed characterizing the fluid venting environment, where different microforms, habitats and associated biota, with typical seepage components have been identified. Chemosynthetic bacterial communities were detected and sampled at the northeastern side of the summit at 350 m, next to pockmark-like depressions with diameters ranging 1 to 3 m, bioturbation marks, sediment mounds and authigenic carbonates of different sizes (0.1-5m length). Chemosynthesis-based communities were mainly composed by bacterial mats (patch diameter 10-30 cm), however some remains of cold seep chemosymbiotic bivalves (Lucinoma asapheus) were also found on the sediment. Habitat types at Mercator MV are influenced by oceanographic and sedimentation processes deposition and favouring fauna colonizing diverse substrate types, such as large sponges on slabs and sea-pens and annelids on soft bottoms

Characterization of Color Production in Xalla´s Palace Complex, Teotihuacan

A multi-analytical approach was used to characterize color remains from Xalla, a Teotihuacan palace complex (project Teotihuacan, Elite and Government. Excavations in Xalla led by Linda R. Manzanilla). Color samples were obtained from polished lithic instruments and pigment ores. Those samples were analyzed combining microscopic and spectroscopic techniques. Our results coincide with previous studies in Teotihuacan, with the chromatic palette displaying a predominance of iron oxides such as hematite, yellow ochre and natural earths, as well as malachite, celadonite and glauconite. We have enlarged the corpus of raw materials with the characterization of jarosite and bone white and mica as aggregate. The identification of raw materials crossed with functional analysis of polished lithic artefacts suggests a production and application process for the pigmenting materials that were divided in four phases, from the crushing of the raw material to the application and finishing of the painted surfaces

HypoxamiRs Profiling Identify miR-765 as a Regulator of the Early Stages of Vasculogenic Mimicry in SKOV3 Ovarian Cancer Cells

Vasculogenic mimicry (VM) is a novel cancer hallmark in which malignant cells develop matrix-associated 3D tubular networks with a lumen under hypoxia to supply nutrients needed for tumor growth. Recent studies showed that microRNAs (miRNAs) may have a role in VM regulation. In this study, we examined the relevance of hypoxia-regulated miRNAs (hypoxamiRs) in the early stages of VM formation. Data showed that after 48 h hypoxia and 12 h incubation on matrigel SKOV3 ovarian cancer cells undergo the formation of matrix-associated intercellular connections referred hereafter as 3D channels-like structures, which arose previous to the apparition of canonical tubular structures representative of VM. Comprehensive profiling of 754 mature miRNAs at the onset of hypoxia-induced 3D channels-like structures showed that 11 hypoxamiRs were modulated (FC>1.5; p < 0.05) in SKOV3 cells (9 downregulated and 2 upregulated). Bioinformatic analysis of the set of regulated miRNAs showed that they might impact cellular pathways related with tumorigenesis. Moreover, overall survival analysis in a cohort of ovarian cancer patients (n = 485) indicated that low miR-765, miR-193b, miR-148a and high miR-138 levels were associated with worst patients outcome. In particular, miR-765 was severely downregulated after hypoxia (FC < 32.02; p < 0.05), and predicted to target a number of protein-encoding genes involved in angiogenesis and VM. Functional assays showed that ectopic restoration of miR-765 in SKOV3 cells resulted in a significant inhibition of hypoxia-induced 3D channels-like formation that was associated with a reduced number of branch points and patterned tubular-like structures. Mechanistic studies confirmed that miR-765 decreased the levels of VEGFA, AKT1 and SRC-α transducers and exerted a negative regulation of VEGFA by specific binding to its 3‘UTR. Finally, overall survival analysis of a cohort of ovarian cancer patients (n = 1435) indicates that high levels of VEGFA, AKT1 and SRC-α and low miR-765 expression were associated with worst patients outcome. In conclusion, here we reported a novel hypoxamiRs signature which constitutes a molecular guide for further clinical and functional studies on the early stages of VM. Our data also suggested that miR-765 coordinates the formation of 3D channels-like structures through modulation of VEGFA/AKT1/SRC-α axis in SKOV3 ovarian cancer cells