The choice of the form of representation in multinational banking: Evidence from Spain

This paper investigates foreign direct investment in the banking sector. The attention has been addressed to test the importance of OLI advantages as the determinants of the bank's decision to invest in foreign locations. Nevertheless, since banks can expand their activities abroad through different organizational forms that imply different levels of foreign involvement, the issue of the form of representation has been tackled. The results show the importance of OLI advantages in the form of representation in multinational banking.OLI advantages, form of representation and multinational banking

New findings regarding return autocorrelation anomalies and the importance of non-trading periods

In this paper, differences in return autocorrelation across weekdays have been investigated. Our research provides strong evidence of the importance on non-trading periods, not only weekends and holidays but also overnight closings, to explain return autocorrelation anomalies. While stock returns are highly autocorrelated, specially on Mondays, when daily returns are computed on a open-to-close basis, they do not exhibit any significant level of autocorrelation. Our results are compatible with the information processing hypotheses as an explanation of the weekend effect.Return autocorrelation, stock market anomalies, non-trading periods

The timing of foreign direct investment under uncertainty: Evidence from the Spanish banking sector

This paper investigates the timing of foreign direct investment (FDI) in the banking sector. The importance of this issue would arise from the existence of differential benefits associated to be the first entrant in a foreign location. Nevertheless, when uncertainty is considered, the existence of some Ownership-Location-Internalization (OLI) advantages can make FDI less reversible and/or more delayable and therefore it may be optimal for the firm to delay the investment until the uncertainty is resolved. In this paper, the nature of OLI advantages in the banking sector has been examined in order to propose a prognostic model of the timing of foreign direct investment. The model is then tested for the Spanish case using duration analysis.OLI advantages, foreign banking entry, survival analysis

Driver costs in small firms: empirical analysis for farms

The agricultural sector has always been characterized by a predominance of small firms. International competition and the consequent need for restraining costs are permanent challenges for farms. This paper performs an empirical investigation of cost behavior in agriculture using panel data analysis. Our results show that transactions caused by complexity influence farm costs with opposite effects for specific and indirect costs. While transactions allow economies of scale in specific costs, they significantly increase indirect costs. However, the main driver for farm costs is volume. In addition, important differences exist for small and big farms, since transactional variables significantly influence the former but not the latter. While sophisticated management tools, such ABC, could provide only limited complementary useful information but no essential allocation bases for farms, they seem inappropriate for small farms.small firms, activity based costing, cost behavior, farm management accounting

Cost stickiness revisited: Empirical aplication for farms

This article reviews previous research regarding cost stickiness and performs an empirical analysis applied to a sample of farms. It recognizes that modelization of cost stickiness is a particular case of representation of cost variations as a function of output variations. It also discusses methodological issues and analyses cost stickiness for all registered farm costs and opportunity costs of family work. Costs exhibit a considerable level of rigidity. Even for variable costs, a decrease in activity involves a lower decrease in costs than the amounts involved when activity increases. While registered indirect costs slightly decrease when activity decreases, opportunity costs always increase. The study provides empirical evidence that cost stickiness is significantly reduced with better management decision practices.cost stickiness, cost behavior, farm management accounting

Analysis of the gamification applications to improve the energy savings in residential buildings

This paper proposes a set of metrics to evaluate and compare applications in a new but quickly developing field – energy management software (EMS) in residential buildings. The goal of the paper is to highlight tendencies and to detect drawbacks of pre sent applications to develop a new one taking into account the results of previous analysis. It shows a shortlist of applications examined. Provides the conclusion drawing to the metrics and proposes mai n issues to be considered in the development of a new application.Peer ReviewedPostprint (author's final draft

La problemática de la energía nuclear en el Valle de Ayora. Los conflictos en torno a la prolongación del funcionamiento de la central de Cofrentes y a la candidatura de Zarra como posible ubicación del almacén temporal centralizado de residuos de alta actividad

Se analiza la fase reciente (2009-2011) del conflicto en la sociedad valenciana en torno a los usos industria les de la energía nuclear de fisión , con especial atención a sus expresiones locales en el Valle de Ayora. En la investigación se ha recurrido a entrevistas abiertas en profundidad, análisis documental y, en menor medida, observación participante . Se han estudiado especialmente tres aspectos: el papel de la información científico-técnica en el surgimiento y desarrollo del conflicto, las modalidades más características de la participación ciudadana y los efectos de cambio social favorables o contrarios a la sostenibilidad. Resulta dos más reseñables : a) los términos científico-técnicos del debate , establecidos hace más de treinta años, han conocido pocas variaciones sustanciales (hay algunos argumentos de nuevo cuño, pero han sido sobre todo los accidentes –Fukushima– los que han reactiva do la pre ocupación ); b) las formas de participación in forma l han se guido siendo, como siempre en el campo de la energía nuclear, más importantes que la participación regulada; c) en los últimos dos años no hay efectos de cambio sustanciales: el bloqueo de la cuestión nuclear en el País Valenciano es persistent

Fair value versus historic cost Valuation for Biological assets: Implications for the quality of financial information

This research finds neither significant differences in earnings and revenues for farms using fair value (FV) for biological assets with respect to those valuing at historic cost (HC), nor an increase in their volatility. It does not bring about differences in profitability, accounting manipulation and farm cash flows predictability either. On the contrary, most tests reveal higher predictive power of future earnings under FV. The study also provides evidence on flawed HC accounting practices in the agricultural sector and concludes that FV seems an interesting tool for the predominant small holdings in the agricultural sector in the European Union.accounting relevance, historic cost, agricultural accounting, prediction, fair value, earnings, cash flow prediction, biological assets

A Framework proposal for monitoring and evaluating training in ERP implementation project

During the last years some researchers have studied the topic of critical success factors in ERP implementations, out of which 'training' is cited as one of the most ones. Up to this moment, there is not enough research on the management and operationalization of critical success factors within ERP implementation projects.Postprint (published version