Corporate information transparency on the Internet by listed companies in Spain (IBEX35) and Mexico (IPYC)

Financial and non-financial disclosure play a central role in the functioning of capital markets. In this context, the Internet has been adopted as an effective mechanism for large companies to disseminate corporate information. The institutional theory approach has been applied to identify both formal (fundamentally legal and economic) and informal factors that significantly influence listed companies’ level of corporate transparency on the Internet. Our work aims to build on existing study by focusing on two main objectives. Firstly, to make a comparative study of the corporate transparency of listed companies from Mexico and Spain by creating an index of corporate transparency on the Internet (e-CTI). And secondly, to identify the factors that affect this index using multiple regression analysis. Our study population is comprised of 70 companies, of which 35 belong to the Mexican Price and Quotations Index (IPyC) and 35 to the Spanish IBEX 35 index. The descriptive analysis reveals significant differences in the level of information disclosure between the two countries. The companies listed in Mexico obtain an e-CTI of 59%, while the Spanish ones register 80%, i.e. more importance is assigned to the disclosure of corporate governance data in Spain than in Mexico. Furthermore, this analysis shows that the factors most telling with regards to corporate transparency are the strength and application of law, GDP per capita, inflation and firm-level variables such as ownership concentration and Chairman of the Board-Chief Executive Officer (COB-CEO) duality. However, other variables such as board size and composition, profitability, leverage and firm size are not significant for the purposes of this analysis. Our work is of great relevance today, since most studies have focused on developed countries, mainly in the U.S. and Europe, with few comparisons being made between developed and developing countries, such as Spain and Mexico

The Disclosures of Information on Cybersecurity in Listed Companies in Latin America—Proposal for a Cybersecurity Disclosure Index

For the corporate sphere, cybersecurity becomes an inescapable business responsibility, and accountability becomes a way of providing trust and ensuring resilience against cyber risks and high-impact cyber threats. The purpose of this study was to create a disclosure index that allows analysis of the scope of the disclosure of voluntary and mandatory cybersecurity information. The content analysis technique used focuses on the examination and identification of the cybersecurity information revealed in the annual reports and the 20 F annual forms of the companies with the highest stock market prices in Argentina, Brazil, Chile, Colombia, Mexico, and Peru during the period of 2016–2020. Longitudinal analysis indicates an increase over time in the disclosures and scope of information. The findings highlight that the country with the highest related disclosure is Argentina; the most extensive disclosures are due to the financial sector; and the strategy dimension represents the greatest weight in the index score. The study provides a novel instrument for measuring the content of disclosure on cybersecurity that is applicable in any specific context. In this case, the scope of disclosure in Latin America—a region which, according to our research, does not have previous studies on the subject—is evaluated

Board Independence and Corporate Social Responsibility Disclosure: The Mediating Role of the Presence of Family Ownership

This paper examines the impact of board independence on corporate social responsibility (CSR) disclosure and analyses the moderating effect of the presence of family ownership. Using an international sample from 29 countries from 2006 to 2014, our panel Tobit estimation shows that board independence is negatively associated with CSR disclosure practices and they present opposition to CSR disclosure practices. However, family ownership moderates the relationship and enforces the positive orientation of independent directors towards CSR disclosure. This shows that the presence of family ownership reduces independent director concern of reputation risks associated with receiving misleading information and family firms decrease the asymmetries of information between the independent director and management. The study also finds that independent directors encourage CSR disclosure in family firms more in civil law countries where investor protection is low compared to common law countries where investor protection is high.We would like to thank European Union for providing Erasmus Plus International Credit Mobility Scholarship to Mr. Shashank Bansal. This research is performed during his stay at University of Granada, Spain, as a part of scholarship

Performance and abilities of family-member ceos in a context of formal institutional weakness

Antecedentes: desde la perspectiva de la teoría institucional, este artículo estudia la relación entre las habilidades de los directores generales pertenecientes a la familia y el desempeño financiero de las empresas familiares listadas en un entorno caracterizado por la debilidad de las instituciones formales. Metodología: la muestra se compone de empresas familiares no financieras listadas en la Bolsa Mexicana de Valores durante el periodo 2001-2014. El análisis econométrico utiliza modelos lineales para datos de panel estimados por mínimos cuadrados ordinarios (mco). Para tomar en cuenta la endogeneidad, las regresiones se corren con el método generalizado de momentos (mgm). Conclusiones: en un contexto de debilidad institucional, invertir en educación superior en el área de negocios —de alta calidad y proporcionada en el propio país— es una buena estrategia a largo plazo para empresas familiares que quieran promover a un director general de la familia.Background: From the perspective of institutional theory, this paper studies the relation between the abilities of family-member ceos and the financial performance of listed family companies, in a setting of formal institutional weakness. Methodology: The study sample is composed of non-financial family firms listed in the Mexican Stock Exchange during the 2001-2014 period. Econometric analysis is attained through linear models for panel data, estimated by ordinary least squares (ols). To take into account endogeneity concerns, regressions are run through the generalized method of moments (gmm). Conclusions: In a context of formal institutional weakness, investment in businessrelated higher education —of high quality, and in one’s own country— is a good long-term strategy for family businesses that wish to promote a family-member ce

Análisis de los atributos cualitativos de la información medioambiental proporcionada por las compañías IBEX 35 (1998-2002)

El trabajo presenta el contraste empírico acerca de la respuesta que ofrecen las empresas privadas a los requerimientos de la normativa sobre información contable medioambiental, tomándose como muestra las compañías del lBEX 35 de las que cabe esperar una adecuada calidad en la presentación de información. La evidencia empírica se obtiene a través de la identificación y exploración temporal y espacial de los atributos cualitativos de la información medioambiental incorporada en los documentos contables obligatorios publicados por estas entidades durante el periodo 1998 a 2002. Los resultados alcanzados nos permiten concluir, entre otros, la baja calidad de la información suministrada, lo que en ocasiones puede derivar de las propias carencias que presenta la normativa contable sobre el reconocimiento de los aspectos medioambientales en los estados financieros.This paper presents the empiric contrast about the feedback provided by private companies when fulfilling requirements of those regulations on supply of environmental data. For this purpose, companies within the Spanish Stock Exchange lndex, IBEX 35, have been considered as a sample, assuming that they do offer adequate quality standard s when providing the information requested. The empirical evidence is obtained through the identification and temporary and space exploration of the qualitative attributes of the environmental data appearing in the accounting statements published by such companies from 1998 to 2002. The results obtained show, among others, the low quality in the information supplied that, in certain occasions, may arise from lacks in the accounting regulations on the recognition of environmental factors in the financial statements.El presente trabajo puede considerarse como parte de los resultados del proyecto BEC2003-05952 del Ministerio de Ciencia y Tecnología

Application of blended learning in accounting: a comparative analysis of different degrees in Higher Education

La incorporación de las nuevas tecnologías de la información y la comunicación (TIC) en la enseñanza está dando lugar al desarrollo de nuevas metodologías docentes, como es el aprendizaje combinado. En este trabajo se muestran los resultados de una experiencia de aprendizaje combinado realizada en la asignatura de Contabilidad General que se imparte en el primer año de cuatro titulaciones de la Universidad de Granada (en la doble titulación en Administración de Empresas y Derecho, en la Licenciatura de Administración de Empresas y de Economía y en la Diplomatura de Ciencias Empresariales) con 1.431 alumnos matriculados en el curso académico 2009-10. El trabajo se centra en el análisis de las medidas objetivas y subjetivas de los resultados de los alumnos, considerando cada titulación de forma independiente. Como medida objetiva se considera la nota final obtenida por los alumnos que han participado en esta experiencia de aprendizaje combinado. Como medida de carácter subjetivo se utiliza la percepción que dichos alumnos tienen sobre la utilidad, la motivación y la satisfacción de la experiencia. Para recopilar los datos de carácter subjetivo se realizó un cuestionario, gracias al cual se obtuvieron 985 respuestas válidas. Los resultados del trabajo muestran que, en todas las titulaciones, el empleo del aprendizaje combinado ayuda a reducir la tasa de abandono de la asignatura y contribuye a que mejore la tasa de aprobados. Además, en todas las titulaciones, los estudiantes se encuentran satisfechos con el aprendizaje combinado, lo consideran útil y motivador y sus percepciones están relacionadas entre sí. Hay diferencias, según la titulación, en las variables que inciden en las calificaciones de los alumnos. No obstante, en general, están positivamente relacionadas con la nota de entrada a la universidad y con el nivel de asistencia a clase.The incorporation of new information and communication technology in education is stimulating new teaching methodologies such as blended learning. This paper reports the results of a blended learning experience in the subject of general accounting, as taught to firstyear undergraduates enrolled at the University of Granada in four different degree programmes (business administration, economics, business studies and the double business administration/ law programme). These programmes had 1,431 students enrolled in the 2009-2010 academic year. The research uses objective and subjective measures of student performance, looking at each degree programme separately. The final overall mark earned by each participating student was used as an objective measure. As a subjective measure, the students’ perception of the blended learning experience’s usefulness, motivation and satisfaction was used. A questionnaire was designed to collect subjective data, and 985 valid responses were obtained. The results showed that in every degree programme the use of blended learning had a positive effect, reducing the dropout rate and improving exam marks. In addition, students in all the degree programmes were satisfied with blended learning and found it useful and motivating. These perceptions were interrelated. There were programme-related differences in the variables affecting students’ final marks. However, in general, final marks were found to depend on the scores individuals submitted on admission (a combination of secondary school averages and admissions examination marks) and class attendance.Esta experiencia ha recibido financiación del Proyecto de Innovación Docente nº 09-197 subvencionado por el Plan Propio de la Universidad de Granada

A Flexible Approach to the Multidimensional Model: The Fuzzy Datacube

As a result of the use of OLAP technology in new fields of knowledge and the merge of data from different sources, it has become necessary for models to support this technology. In this paper, we propose a new multidimensional model that can manage imprecision both in dimensions and facts. Consequently, the multidimensional structure is able to model data imprecision resulting from the integration of data from different sources or even information from experts, which it does by means of fuzzy logic

SEEQ questionnaire: a feedback instrument for the improvement of the teaching-learning process

El presente artículo tiene como objetivo primordial analizar las propiedades métricas de la percepción que tienen los estudiantes acerca de la actividad docente en educación superior mediante la aplicación del cuestionario validado “Student Evaluation of Educational Quality” en la asignatura de Dirección Estratégica del Grado en Relaciones Laborales y Recursos Humanos de la Universidad de Extremadura. El estudio se realiza mediante un análisis cuantitativo analizando las métricas del cuestionario basado en la opinión de los estudiantes. De las ocho dimensiones analizadas destaca la dimensión de “Actitud Personal” con un valor de 4,85 sobre 5, lo que se traduce en la importancia de la predisposición del docente tanto de cara al aumento del rendimiento académico del estudiante, así como de los beneficios sociales en el aula. Los resultados muestran la satisfacción general que tienen los estudiantes con el equipo docente mediante esta técnica de aprendizaje. Finalmente, con la correlación de Spearman entre dimensiones, se demuestra que la opinión que reflejan los estudiantes en el cuestionario no está condicionada por las notas que obtienen en los exámenes.The main objective of this article is to analyze the metric properties of students’ perception about the teaching activity in higher education through the application of the validated questionnaire “Student Evaluation of Educational Quality”, in of Strategic Management of the Degree in Labour Relations and Human Resources subject, at the University of Extremadura. This study is carried out by means of a quantitative analysis, analyzing the metrics of the questionnaire based on the opinion of the students. Of the eight dimensions analyzed, the “Personal Attitude” dimension stands out with a value of 4.85 out of 5, which translates into the importance of the teacher’s predisposition, both in terms of increasing the student’s academic performance, as well as the social benefits in the classroom. The results show the general satisfaction that students have with the teaching crew through this learning technique. Finally, with the Spearman correlation between dimensions, it is shown that the opinion reflected by the students, in the questionnaire, is not conditioned by the marks they obtain in the exams