Employees' satisfaction as explanatory factor of business failure : an inter-sectorial analysis for Spain

International journal of engineering and industrial management . - ISSN 1647-578X. - N. 5 (2013). - p. 11-38.The events in recent years have pushed many companies to extreme situations, testing their ability to adapt them to a changing and turbulent environment. Especially, if we consider the effect of "firm death" or "cessation of business activities" on numerous socio-economic stakeholders. Based on the ideas of the Stakeholder Theory, and emphasizing social aspects related to employment, this paper verifies empirically the link between "employee job satisfaction" and the rate of failure in an specific activity sector , understood as cessation of activity. Also, we analyze the capability of job satisfaction as a variable to predict a future business failure. For this purpose, we examine a sample of nine activity sectors from 2007 to 2010. The results show the importance of information on "employee job satisfaction" as a useful tool for judging the risk of a future situation of cessation, so that it may be useful to researchers and managers

The effects of stakeholder power, strategic posture and slack financial resources on sustainability performance in UK higher education institutions

Purpose-Higher education institutions (HEIs) are critical in the sustainability agenda, not only as catalysts for promoting sustainability practices, but also because their activities have substantial social, economic, and environmental impacts. Yet there is limited research that examines their sustainability performance. In this paper, we investigate the factors that are associated with sustainability performance in HEIs. Specifically, drawing from the stakeholder theory and exploiting Ullmann's (1985) conceptual framework, we examine the association between sustainability performance and stakeholder power, strategic posture, and financial slack resources. Design/methodology/approach-We draw our sample from the People & Planet University Green League Table for the period 2011 to 2019 and use the generalized estimating equations (GEE) for our modelling approach. Findings-We find that stakeholder power, in particular, funding grant income, tuition fee income and student and staff numbers, are positively associated with sustainability performance. In relation to strategic posture, we find that sustainability performance is negatively associated with governing body independence and gender diversity, and positively associated with internal structures. Finally, regarding financial slack resources, we find that surplus income (staff costs) is positively (negatively) associated with sustainability performance. Practical implications-This research contributes to several existing literature focusing on not-for-profit sector by documenting, for the first time, the role of stakeholder power, strategic posture, and slack financial resources on sustainability performance. Social implications-The paper includes relevant implications for HEI managers and regulators for promoting sustainability. Originality/value-These results contribute to the literature on the factors influencing sustainability performance

El efecto de la experiencia previa de trabajo en grupo sobre el rendimiento académico de los estudiantes en la disciplina de contabilidad

This paper analyses the implementation of cooperative learning techniques in accounting subjects to investigate whether students’ willingness to work in groups, based on their perceptions regarding this learning technique arising from previous group working experiences, are related to their academic performance. The findings reveal that students’ perceptions regarding their improved skills due to having worked in groups are positively and significantly related to their academic performance; meanwhile, students’ perceptions of having learnt from others are negatively and significantly related to their academic performance. Therefore, this study extends the existing literature on cooperative learning and students’ academic performance by considering students’ attitudes toward working in groups resulting from their prior experiences

The Impact of Corporate Governance on Corruption Disclosure in European Listed Firms through the Implementation of Directive 2014/95/EU

The publication of Directive 2014/95/EU represents an important milestone related to the disclosure of non-financial information. This fact together with the role of the corporate governance guide firms towards achieving of an ethical, transparent, and responsible behavior. To contribute towards the understanding of this issue, this study investigates the relationship between corporate governance mechanisms and corporate social responsibility disclosure, namely, in corruption aspects relating to Directive 2014/95/EU. In so doing, a multiple regression analysis was carried out on a panel data sample of 198 European listed firms that are part of the EuroStoxx 200 index, in a studied period from 2014 to 2017. The findings reveal that outside directors and CEO duality impact positively and significantly on corruption disclosure. Therefore, this paper contributes to the existing research on corporate social responsibility disclosure, specifically, to the corruption disclosure literature by studying the corporate governance mechanisms that enhance these practices.This research was funded by the University of Castilla-La Mancha, in the form of a research group which is called “External and Internal Information Systems of Organizations: Corporate and Management Information (GISEIO)” co-financed by the European Union through the European Regional Development Fund

El rol de los stakeholders en situaciones de fracaso empresarial: Un enfoque empírico mediante boosting: Understanding the stakeholders’ role in a business failure situation: An empirical boosting approach

We investigate the stakeholders’ role in a business failure situation. In particular, we analyse which primary stakeholders have an impact on the business failure, and how. This work also proposes an order of prioritization of primary stakeholders with the purpose of showing business managers useful information which guides their decisions to reduce the emergence of conflicts of interest that may affect the sustainability of firms long-term in financial crisis situations. We have taken a sample of 2,352 Spanish SMEs, 1,176 non-failed firms matched with 1,176 failed firms, from which economic and financial data are been extracted from their financial reporting. In this vein, logistic regression and boosting methodologies have been applied. The findings indicate that the primary stakeholders have a statistically significant effect on the likelihood of business failure. Furthermore, the results present a ranking of primary stakeholders related to their impact on the likelihood of business failure in contexts of financial crisis. Thus, our study provides a useful guide to managers seeking to understand the primary stakeholders’ roles and their relative priority in business failure.Este estudio investiga el rol de los stakeholders en situaciones de fracaso empresarial. En concreto, analiza qué stakeholders primarios tienen impacto en la probabilidad de fracaso de una empresa y cómo lo ejercen. También propone un orden de priorización de los stakeholders primarios con la finalidad de ofrecer a los gestores empresariales información útil para que, ante situaciones de crisis financiera, orienten sus decisiones a reducir la aparición de conflictos de intereses que pueden afectar a la sostenibilidad de la empresa a largo plazo. De esta forma, se ha tomado una muestra de 2.352 pymes españolas, 1.176 empresas sanas emparejadas con 1.176 empresas fracasadas, de las que se han extraído datos económico-financieros de sus cuentas anuales y a los que se han aplicado las metodologías de regresión logística y boosting. Los resultados obtenidos indican que los stakeholders primarios tienen efecto estadísticamente significativo en la probabilidad de fracaso empresarial.  Además, los resultados presentan un ranking de stakeholders primarios en relación con su impacto en la probabilidad de fracaso empresarial ante contextos de crisis financiera. De esta forma, este estudio propone una guía útil para los gestores mostrando los roles de los stakeholders primarios ​​y su orden de prioridad ante una situación de fracaso empresarial

Análisis del cese de la actividad empresarial a través del comportamiento de los stakeholders

The subject of this paper is to study the influence of stakeholders behaviors on the business failure or cessation, based on the information extracted from the accounting information (Profit and Loss Account and the State Value Added). To do this, we selected a sample of 2,536 Spanish SMEs, half of them failed, in the study period from 2006 to 2009 and applied a statistical methodology based on the estimation of logit models. The results verified that the behaviors of the some stakeholders influence the increased likelihood of business failure or cessation, constituting factors to be considered for detecting and preventing of these conditions or outcomes.El fin de este trabajo consiste en el estudio de la influencia del comportamiento de los stakeholders en el fracaso o cese de la actividad empresarial, en base a la caracterización de los datos extraídos de la información contable (Cuenta de Pérdidas y Ganancias y del Estado de Valor Añadido). Para ello, se ha seleccionado una muestra de 2.536 PYMES españolas, fracasadas la mitad de ellas, en el periodo de estudio 2006- 2009 y se ha aplicado una metodología estadística basada en el análisis univariante de diferencias de medias y en la estimación de modelos logit. Los resultados alcanzados verifican que los comportamientos de algunos stakeholders inciden en el aumento de las probabilidades de fracaso o cese de la actividad empresarial, constituyendo factores a tener en cuenta para la detección y prevención de estas situaciones o desenlaces

La evolución de las exportaciones de bienes de China: una visión panarómica = Chinese goods exports development: An overview

El proceso de reforma económica que ha experimentado la economía de China es uno de los fenómenos de mayor relevancia en la evolución de la Economía Mundial en los últimos treinta años y, sin duda, seguirá siéndolo en el futuro. Dentro de este proceso, la apertura al exterior, que el gobierno chino inició en 1978, ha situado al país en un lugar de máxima relevancia dentro de los flujos comerciales y financieros internacionales. En este contexto, el objetivo de este trabajo es intentar realizar un análisis general de la evolución del comercio exterior de China en las últimas décadas, prestando especial atención a sus exportaciones de bienes y poniendo énfasis en los cambios experimentados durante los últimos años

Understanding the stakeholders’ role in a business failure situation : An empirical boosting approach

Este estudio investiga el rol de los stakeholders en situaciones de fracaso empresarial. En concreto, analizaqué stakeholders primarios tienen impacto en la probabilidad de fracaso de una empresa y cómo lo ejercen.También propone un orden de priorización de los stakeholders primarios con la finalidad de ofrecera los gestores empresariales información útil para que, ante situaciones de crisis financiera, orientensus decisiones a reducir la aparición de conflictos de intereses que pueden afectar a la sostenibilidadde la empresa a largo plazo. De esta forma, se ha tomado una muestra de 2.352 pymes españolas,1.176 empresas sanas emparejadas con 1.176 empresas fracasadas, de las que se han extraído datoseconómico-financieros de sus cuentas anuales y a los que se han aplicado las metodologías de regresiónlogística y boosting. Los resultados obtenidos indican que los stakeholders primarios tienen efectoestadísticamente significativo en la probabilidad de fracaso empresarial. Además, los resultados presentanun ranking de stakeholders primarios en relación con su impacto en la probabilidad de fracaso empresarialante contextos de crisis financiera. De esta forma, este estudio propone una guía útil para los gestoresmostrando los roles de los stakeholders primarios y su orden de prioridad ante una situación de fracasoempresarial.We investigate the stakeholders’ role in a business failure situation. In particular, we analyse which primarystakeholders have an impact on the business failure, and how. This work also proposes an order of priorit-ization of primary stakeholders with the purpose of showing business managers useful information whichguides their decisions to reduce the emergence of conflicts of interest that may affect the sustainabilityof firms long-term in financial crisis situations. We have taken a sample of 2,352 Spanish SMEs, 1,176non-failed firms matched with 1,176 failed firms, from which economic and financial data are been extrac-ted from their financial reporting. In this vein, logistic regression and boosting methodologies have beenapplied. The findings indicate that the primary stakeholders have a statistically significant effect on thelikelihood of business failure. Furthermore, the results present a ranking of primary stakeholders relatedto their impact on the likelihood of business failure in contexts of financial crisis. Thus, our study providesa useful guide to managers seeking to understand the primary stakeholders roles and their relative priorityin business failure

Stakeholders and Long-Term Sustainability of SMEs. Who Really Matters in Crisis Contexts, and When

The impact of crises on the long-term sustainability of small and medium-sized enterprises (SMEs) has been attracting growing interest in the literature and from governments due to the significance of such companies with respect to economic growth, innovation, and employment. Although failure prediction models have been proposed based on accounting and other qualitative information, little is known regarding the influence of stakeholders on the failure process of SMEs. From the perspective of long-term sustainability, this article analyzes the role of the financial influence of stakeholders on the likelihood of business failure. An empirical study was carried out on a sample of 2352 Spanish SMEs, examining the differences between failed and non-failed SMEs and using a classification tree methodology to investigate the role played by each type of stakeholder in overcoming crisis events. The study provides empirical evidence regarding the relative importance of stakeholders to SMEs under conditions of financial distress, and proposes their categorization on the basis of their control over firms’ financial resources. Specifically, the analysis reveals that the capacity of the firm to generate sustainable wealth over time and to overcome critical situations is dependent on the most critical stakeholders. Workers, customers, and suppliers are the most important in ensuring the long-term sustainability of SMEs during the first stages of a crisis. Following the initial operational problems, other creditors (financial institutions) become relevant. In this sense, the results of this study encourage firms and governments to develop cooperation strategies with stakeholders (co-responsibility) in line with the proposed conceptual models of business sustainability.This research was partially funded by the European Regional Development Fund of the European Union, belonging to the research group: Sistemas de información externa e interna de las organizaciones: información corporativa y para la gestión (GISEIO). This research was also partially funded by the Universidad de Castilla-La Mancha, grant number 2019-GRIN-2690