Corporate and individual global mind-set and internationalization of European SMEs

This paper analyzes the effect of individual and corporate global mind-set on the internationalization of small and medium-sized European firms. Factor analysis and structural equation modeling methodology are the tools for this purpose. Results show the importance of the relationships between individual global mind-set and internationalization effect, and between corporate global mind-set and international know-how activities. Research model recognizes the relationship between individual global mind-set and corporate global mind-set. This research contributes significantly to literature by providing insight into three key areas: factors relating to corporate GM, relationship between corporate GM and internationalization factors of SMEs, and relationship between individual GM and corporate GM.info:eu-repo/semantics/publishedVersio

Influences on mutual fund performance: comparing US and Europe using qualitative comparative analysis

This study examines the conditions that lead mutual funds to underperform or outperform competitors. Using fuzzy-set qualitative comparative analysis (fsQCA), we draw upon extensive research on fund returns to affirm and extend earlier discoveries. Fund performance (Morningstar ratings), features of the funds themselves, and characteristics of the fund managers are considered. Positive Morningstar star and analyst ratings are necessary conditions for funds to generate value (measured by Jensen’s alpha). Funds with low management fees and low ongoing fees have attractive Sharpe ratios and high returns. Likewise, large funds with good Morningstar ratings have good Sharpe ratios and returns, often when fund managers have short tenures

El crowd o multitud como método de financiación de proyectos empresariales. Referencia al crowdlending o préstamo de multitud

Tesis por compendio[ES] La financiación es uno de los aspectos más importantes, y muchas veces problemáticos, a la hora de crear una empresa. Hay distintas formas de financiarse, con fondos propios o ajenos. El crowdfunding es una forma, relativamente reciente de financiación, con fondos ajenos al capital del promotor del negocio y basada en el uso de plataformas tecnológicas. Existen distintas formas de crowdfunding. Algunas se pueden basar en donaciones, como por ejemplo para financiar proyectos comunitarios, músicos y artísticos. Otras pueden basarse en la recaudación y contribuciones de individuos que buscan recompensas no monetarias. Otras pueden formar parte del sistema de financiación alternativa para los empresarios y emprendedores. Dentro de estas podemos diferenciar, por un lado las aportaciones de los inversores a cambio de acciones de las empresas financiadas, más conocido como crowdfunding basado en acciones (crowdequity), Y por otro lado, las que se basan en la solicitud de crédito, donde los inversores esperan recibir el principal aportado más intereses siguiendo un modelo de préstamo tradicional (crowdlending). El objetivo de esta tesis es focalizarlo en este último: el crowdlending. Para ello hemos realizado cuatro trabajos de investigación que se han publicado en cuatro diferentes journals indexados en Web of Science de Clarivate (con JCR). En primer lugar, se estudia el estado del arte del crowdlending dentro del crowdfunding. En segundo lugar, se analizan dos casos importantes de crowdlending en dos sectores distintos (relojes como complemento de moda y el sector del vino). En tercer lugar, se analizan 17 plataformas activas de crowdlending para ver la actividad de las mismas en relación a los inversores. En cuarto y último lugar, se estudian los factores en la gestión de la información que se asocian a una plataforma de proyectos de crowdlending. El crowdlending es una herramienta de financiación que surge de la economía colaborativa. Se emplea una plataforma online para poner en común inversores que ofrecen recursos económicos, con empresas/individuos emprendedores que necesitan y demandan recursos monetarios. Para ello, lo primero que hemos realizado ha sido una revisión de la literatura previa en el topic (plasmado en el primer artículo). Luego hemos realizado un estudio cualitativo, centrado en dos casos de crowdlending a nivel nacional (plasmado en el segundo artículo). Con posterioridad realizamos un estudio cuantitativo de plataformas con el propósito de crear un indicador sintético definido por una serie de variables influyentes: importe total de los préstamos intermediados en la plataforma, variación anual de este importe, número de inversores y su variación anual, rentabilidad media, préstamos por inversor y su variación anual, y por último la oferta y la demanda de este modelo de financiación (plasmado en el tercer artículo). Finalmente acabamos la investigación de la tesis con un análisis cualitativo comparativo (QCA) utilizando tanto componentes numéricos como cualitativos (plasmado en el cuarto artículo).[CA] La finançació és un dels aspectes més importants, i moltes voltes problemàtics, a l'hora de crear una empresa. Hi ha distintes formes de finançar-se, en fondos propis o aliens. El crowdfunding és una forma, relativament recent de finançació, en fondos aliens al capital del promotor del negoci i basada en l'us de plataformes tecnològiques. Existixen distintes formes de crowdfunding. Algunes es poden basar en donacions, com per eixemple per a finançar proyectes comunitaris, músics i artístics. Unes atres poden basar-se en la recaptació i contribucions d'individus que busquen recompenses no monetàries. Unes atres poden formar part del sistema de finançació alternativa per als empresaris i mamprenedors. Dins d'estes podem diferenciar, per un costat les aportacions dels inversors a canvi d'accions de les empreses finançades, més conegut com crowdfunding basat en accions (crowdequity), I per un atre costat, les que es basen en la solicitut de crèdit, a on els inversors esperen rebre el principal aportat més interessos seguint un model de préstam tradicional (crowdlending). L'objectiu d'esta tesis és focalizarlo en este últim: el crowdlending. Per a això hem realisat quatre treballs d'investigació que s'han publicat en quatre diferents journals indexats en Web of Science de Clarivate (en JCR). En primer lloc, s'estudiarà l'estat de l'art del crowdlending dins del crowdfunding. En segon lloc, s'analisaran dos casos importants de crowdlending en dos sectors distints (rellonges com a complement de moda i el sector del vi). En tercer lloc, s'analisaran 17 plataformes actives de crowdlending per a vore l'activitat de les mateixes en relació als inversors. En quarto i últim lloc, s'estudien els factors en la gestió de l'informació que s'associen a una plataforma de proyectes de crowdlending. El crowdlending és una ferramenta de finançació que sorgix de l'economia colaborativa. S'ampra una plataforma online per a posar en comú inversors que oferixen recursos econòmics, en empreses/individus mamprenedors que necessiten i demanden recursos monetaris. Per a això, lo primer que hem realisat ha segut una revisió de la lliteratura prèvia en el topic (plasmat en el primer artícul). Després hem realisat un estudi qualitatiu, centrat en dos casos de crowdlending a nivell nacional (plasmat en el segon artícul). En posterioritat realisem un estudi quantitatiu de plataformes en el propòsit de crear un indicador sintètic definit per una série de variables influents: import total dels préstams intermediats en la plataforma, variació anual d'este import, número d'inversors i la seua variació anual, rendabilitat mitjana, préstams per inversor i la seua variació anual, i per últim l'oferta i la demanda d'este model de finançació (plasmat en el tercer artícul). Finalment acabem l'investigació de la tesis en un anàlisis qualitatiu comparatiu (QCA) utilisant tant components numèrics com a qualitatius (plasmat en el quart artícul).[EN] Financing is one of the most important, and often problematic, aspects of starting a business. There are different ways of financing, with own or third party funds. Crowdfunding is a relatively recent form of financing, with funds outside the capital of the business promoter and based on the use of technological platforms. There are different forms of crowdfunding. Some may be based on donations, for example to finance community, music and art projects. Others may be based on fundraising and contributions from individuals seeking non-monetary rewards. Others may be part of the alternative financing system for entrepreneurs and business people. Within these we can differentiate, on the one hand the contributions of investors in exchange for shares of the funded companies, better known as crowdfunding based on shares (crowdequity), and on the other hand, those based on the application for credit, where investors expect to receive the principal contributed plus interest following a traditional lending model (crowdlending). The objective of this thesis is to focus on the latter: crowdlending. To this end, we have carried out four research papers that have been published in four different journals indexed in Clarivate's Web of Science (with JCR). First, the state of the art of crowdlending within crowdfunding will be studied. Secondly, two important cases of crowdlending in two different sectors will be analyzed (watches as a fashion accessory and the wine sector). Thirdly, 17 active crowdlending platforms will be analyzed to see their activity in relation to investors. Fourthly and finally, the factors in information management associated with a crowdlending project platform are studied. Crowdlending is a financing tool that arises from the collaborative economy. An online platform is used to match investors who offer economic resources with entrepreneurial companies/individuals who need and demand monetary resources. To do this, the first thing we have done has been a review of previous literature on the topic (reflected in the first article). Then we conducted a qualitative study, focused on two cases of crowdlending at national level (shown in the second article). Subsequently, we conducted a quantitative study of platforms in order to create a synthetic indicator defined by a series of influential variables: total amount of loans intermediated on the platform, annual variation of this amount, number of investors and their annual variation, average profitability, loans per investor and their annual variation, and finally the supply and demand of this financing model (reflected in the third article). Finally, we finish the thesis research with a qualitative comparative analysis (QCA) using both numerical and qualitative components (presented in the fourth article). ¿Ribeiro Navarrete, S. (2022). El crowd o multitud como método de financiación de proyectos empresariales. Referencia al crowdlending o préstamo de multitud [Tesis doctoral]. Universitat Politècnica de València. https://doi.org/10.4995/Thesis/10251/186242TESISCompendi

Knowledge of managerial competencies: cross-cultural analysis between American and European students

This paper reports on the differences of managerial competencies among MBA students from American and European business schools. The results of this research suggest that there are certain differences of not only nationality but also gender. The study also points out the need for different managerial competency profiles to better assess MBA students looking for future career development. The results of this study indicate that there is a difference at the national level between assessed managerial competencies of American and European MBA students that can be attributed to cultural factors. This conclusion confirms the findings of Chong (2008) and Akinola, Martin, and Phillips (2018). Secondly, at the organisational level, cultural differences manifest themselves in some but not all assessed managerial competencies. These research findings provide empirical evidence which suggests that, in managing and advising international and global future managers, one ought to distinguish between external, interpersonal and personal managerial competencies which are applicable across cultures and which are prone to cultural differences

Influence of human resource information systems and technology on firm performance: a qualitative comparative analysis

The application of information systems and technologies is a very important challenge for all areas of the company, causing changes in their work processes. Today, the literature has not reached a consensus on the impact that the digitisation of the human resources area has on the results of the company. Therefore, the Fuzzy Set Qualitative Comparative Analysis (fsQCA) has been used in a study with a sample of 42 technology companies from the Valencian Community to identify the conditions that affect the firm performance as an outcome. Two traditional contingent factors (company ownership and the CEO's educational background) are considered, as is the use of information systems and technology for Human Resource Management (HRM). The fsQCA reveals that investment in tools for human resource optimisation and obsolete device replacement positively affect firm performance. Absence of profit growth is linked to a lack of investment in human resource optimisation technology. The distribution of capital amongst different owners, regardless of the technology's current or former availability also hampers firm performance

Analyzing double degrees in Spain: A proposal

[EN] This article reviews the situation of single and double degrees in both public and private Spanish universities. To do so, this study analyzes information from the Registry of Universities, Centers, and Qualifications (RUCT) and Universia Spain. After analyzing the programs currently available to students, we present a proposal to establish a double degree in Administration and Business Management/Industrial Management Engineering. The proposal specifies the degree’s main objectives, specific nature, and fundamental aims and benefits in terms of technical, corporate, innovative, and entrepreneurial competencies.Roig-Tierno, N.; Mas Tur, A.; Ribeiro Navarrete, B. (2015). Analyzing double degrees in Spain: A proposal. En 1ST INTERNATIONAL CONFERENCE ON HIGHER EDUCATION ADVANCES (HEAD' 15). Editorial Universitat Politècnica de València. 334-339. https://doi.org/10.4995/HEAD15.2015.487OCS33433

The financial performance of listed companies in pursuit of the Sustainable Development Goals (SDG)

[EN] Socially responsible companies whose values are aligned with the United Nations Sustainable Development Goals (UN SDGs) contribute to creating wealth and long-term economic and social value. This alignment leads to a competitive advantage based on the triple bottom line that enhances financial performance. In this paper, fuzzy-set qualitative comparative analysis (fsQCA) is used to identify the configurations of conditions that lead to high or low financial performance (return on equity) for a sample of companies in the IBEX 35. Firms should adopt business models that embrace the SDGs because sustainability-based models can ensure not only the present but also the future of generations to come.The authors gratefully acknowledge financial support from the Chair 'Entrepreneurship: Being student to entrepreneur'-Grupo Maicerias Espanolas-Arroz DACSA-Universitat of Valencia.Orero-Blat, M.; Lassala Navarre, C.; Ribeiro-Navarrete, S. (2021). The financial performance of listed companies in pursuit of the Sustainable Development Goals (SDG). Economic Research-Ekonomska Istrazivanja. 34(1):427-449. https://doi.org/10.1080/1331677X.2021.187716742744934

The impact of corporate social responsibility on the financial performance of renewable energy firms

Tackling environmental pollution and climate change is a global challenge. Therefore, sustainability has become a hugely relevant topic in recent years. In their decision making, investors increasingly consider the non-financial performance of companies such as their social and environmental impact. However, the business research community has not yet reached a consensus regarding the relationship between corporate social responsibility (CSR) and corporate financial performance. This research contributes to the discussion on this relationship. It does so by assessing the impact of the individual dimensions of the environmental, social and governance (ESG) score on the corporate financial performance of renewable energy firms from a quantitative and qualitative perspective. Fuzzy-set qualitative comparative analysis (fsQCA) reveals complex and equifinal configurations that lead companies to record high and low levels of Tobin’s Q. The results for a sample of 96 energy companies from the Eikon database do not provide strong enough evidence to affirm that the individual dimensions of the ESG score have a decisive effect on the corporate financial performance of renewable energy firms

Analysing cooperatives’ digital maturity using a synthetic indicator

A company’s digitalisation journey spans multiple dimensions and processes. However, studies of digital maturity have focused only on certain parts of the process. This study presents a method capable of fully capturing a company’s level of digital maturity. A DP2 indicator of digital maturity was constructed. This indicator is based on responses to a company survey of digitalisation in different business areas and processes. Companies with the highest degree of digitalisation are the oldest and largest (most employees). Differences between companies and sectors can be explained by the level of digitalisation in terms of digital management intensity, departmental agility and digital orientatio

The role of entrepreneurial skills as a vehicle for business growth: a study in Spanish start-ups

This article is (c) Emerald Group Publishing and permission has been granted for this version to appear here https://riunet.upv.es. Emerald does not grant permission for this article to be further copied/distributed or hosted elsewhere without the express permission from Emerald Group Publishing Limited.[EN] Purpose Business growth is one of the most studied areas over the years. However, with the current uncertainty and entrepreneurial dynamism it becomes relevant to consider new variables such as entrepreneurial skills and competencies that influence its development. Accordingly, this research refers to the impact that the individual's skills have on the entrepreneurial environment. For this purpose, a survey has been developed of employees of different organizations considering the variables of high degree of proactivity in the employees' attitude, entrepreneurial training, innovation, previous experience or risk aversion. Design/methodology/approach The research has been conducted through fuzzy set qualitative comparative analysis (fsQCA) and the result shows the differences between the combination of variables for business growth through the consideration of sales growth and profit. Findings The results of this research provide new insights that allow the development and boosting of business growth. Originality/value The main contribution of this work is to pay attention to the human team of startups and show the role that this has in their growth.Botella-Carrubi, D.; Ribeiro-Navarrete, S.; Ulrich, K.; Blanco González-Tejero, C. (2022). The role of entrepreneurial skills as a vehicle for business growth: a study in Spanish start-ups. Management Decision. 1-30. https://doi.org/10.1108/MD-02-2022-016113