Search results

This paper aims to analyse the relationship between ownership structure and financial performance in the five major European football leagues from 2007-2008 to 2012-2013 and examine the impact of the financial fair play (FFP) regulation.

The sample used comprises 94 teams that participated in the major European competitions: German Bundesliga, Ligue 1 of France, Spanish Liga, English Premier League and the Italian Serie A. The estimation technique used is panel-corrected standard errors.

The results confirm an inverted U-shaped curve relationship between ownership structure and financial performance as a consequence of both monitoring and expropriation effects. Moreover, the results show that after FFP regulation, the monitoring effect disappears and only the expropriation effect remains.

The lack of transparency of the information provided by some teams has limited the sample size.

One of the main issues that the various regulating bodies of the industry should address is the introduction of a code of good practice, not only for aspects related to the transparency of financial information but also to require greater transparency in the information concerning corporate governance.

Regulating bodies could also consider other additional control instruments based on corporate governance, such as for example, corporate governance practices, corporate governance codes, greater transparency, control of the boards of directors, etc.

This study tries to provide direct evidence of the impact of large majority investors in the clubs and FFP regulation on the financial performance of football clubs.

The paper analyzes the effects of financial fair play (FFP) in the competitive balance of European football industry throughout a long-term perspective.

The authors analyze the evolution of the competitive balance in the European football industry through a time-series analysis from season 1992/93 to 2018/19.

Results indicate an industry by nature dominated by a few clubs showing a general stationary behavior. FFP has had very little impact in local competitions. Just in some leagues, such as the Spanish, German, and French leagues, we can observe an increase in the imbalance in some indicators, but these results are not very robust. The improvement on the financial situation happens especially in a small group of firms that coincide with the big leagues with a strong European market orientation and strict local financial control standards.

Although the study covered 17 European Leagues, there are several leagues not accounted for and thus results should be generalized with caution.

The authors observe heterogeneity of the results of FFP in the competitive balance, associated to how the standard has been implemented in each market. This opens opportunities to study and deepen the local codes and their influence, especially in the recommendations of future financial control standards.

The authors’ main contribution to the literature is to examine the impact of the FFP rules in the competitive balance utilizing a very broad study of 17 European markets with a rich and unusual overview and long-term perspective.

The purpose of this paper is to investigate the moderating effect of business networks on the export performance of firms.

Following recent studies conducted from a network perspective, this moderating effect is studied for different types of business networks. To do this, a two-step Heckman-probit model is implemented for a sample of more than 2,000 manufacturing companies with information from the years 2006 to 2012. This study analyses the effect of nine variables of institutional distance between Spain and four geographical areas for collaborating and non-collaborating firms.

The main contribution of this paper is suggesting that vertical networks reduce the negative effects of institutional distance faced by the company in the early stages of its export process.

According to the results of this paper, managers should make a greater effort to expand their networks when they want to start exporting to further markets, as some networks reduces the negative effect of distance on export propensity. Moreover, the results also suggest that participating within a network may not be sufficient to increase the propensity to export of a firm, being important the kind of network in which companies participate.

The originality of this paper lies in providing empirical evidence that distinct kind of networks have different effect on the internationalisation process of companies, and that they affect not only directly as previous studies showed but also indirectly moderating the negative effect of the differences between markets.

As is well known, architectural design pedagogy persistently demands to look outside the classroom for real-world problems to deal with, and exemplary solutions to learn from. Studio-based learning alternately takes place between indoor and outdoor environments as well as built and natural environments. Especially the use of outdoor workspaces where students may generate and test their design proposals strengthens the case for a better understanding of human habitability and environmental sustainability. Nonetheless, outdoor activities are traditionally confined to on-site information gathering, whereas design and evaluation processes are carried out indoors simply as a desk-bound activity. In these cases, the empirical evidence to back up the problem modeling and the design decisions made inside the studio classroom is missing. In mainstream architecture education, indoor and outdoor learning experiences are operationally dissociated. The intent to create real outdoor studio classrooms not only opens a new research field in learning space design, but new challenges to the studio-based learning culture. We expose a few exemplary cases from an ongoing series of trials, started in 1999 by the Department of Architecture at the Universidad Técnica Federico Santa María, to assess the effective integration of outdoor learning environments with our local studio-based learning culture.

The main purpose of this review is to enhance the understanding of intellectual structure and outlook of management innovation research as an interesting and growing research field.

This systematic literature review examines the question, what is the relationship of management innovation with the performance of companies and with other types of innovation? The work also pursues to summarize theories, contexts, characteristics of the papers and methodologies with the purpose of facilitating further development and opportunities and priorities for future research.

The results suggest that management innovation is an interesting and growing research field; in its relation to different types of innovation and performance, it is a field explored with theoretical approaches, contexts and methodologies that begin to form a consolidated body of knowledge. However, through a critical analysis, this review highlights the gaps in the literature and provides suggestions for future studies to further explore the field. This revision contributes to the literature on management innovation summarizing the findings and contributions of research published in the field and its relationships with innovation and performance. It then identifies three comprehensive research streams, namely, future research on conceptualization, definitions and measurements; research on the level of analysis; and future research on management innovation drivers, antecedents and use as mediator/moderator variables.

Management innovation is an emerging research field that is characterized as a branch of research long ignored by more orthodox lines dedicated to technological innovation and topics in product and service development research.

This paper aims to explore the perceptions of preservice teachers regarding their learning during the teaching practicum (TP) period in the context of the pandemic. Specifically, the objectives of this study are to analyze the difficulties and the learning consequences perceived by student teachers and also to identify proposals with which to improve the initial teacher education (ITE) during the TP period in times of uncertainty and crisis.

This study used a mixed-methods approach. The participants consisted of 89 preservice teachers (student teachers). An online questionnaire was used to collect data during January 2022 in two rounds. The data analysis was carried out from an integrative perspective and used both a descriptive approach and the content analysis of the participants’ narratives.

The results show the differences, adjustments and adaptations that have had to be implemented in schools as a whole. The findings also highlight the difficulties that the pandemic context has caused for the TP period in schools and the relevant implications that it has had on ITE during these past two academic years.

This research is relevant for a better understanding of the challenges faced during the pandemic in the field of early childhood and primary education. More specifically, this paper gives important clues to higher education institutions on how to carry out TP, especially in times of uncertainty and crisis.

This paper reassesses the center-periphery relationship in light of recent developments in the international monetary system and the currency hierarchy in a geopolitical economy framework. The center-periphery relationship has historically been examined in relation to the international division of labor, the pace and diffusion of technical progress associated with it, and the pattern of consumption it embodies. As conceived by structuralists and dependentistas, it is not seen as the result of the uneven and combined development of capitalism: it does not take into account the struggle between the dominant States (center), which want to reproduce the current order and the contender States (periphery) which aim to accelerate capitalist development to reduce the unevenness, and even to undermine the imperial project of dominant states. In a geopolitical economy framework, a powerful obstacle peripheral countries face in their efforts at combined development is the international monetary system, something that the theorists of the center-periphery relationship have perhaps overlooked. Because of its subordinate position in the currency hierarchy, the periphery is subject to greater external vulnerability, greater instability of exchange and interest rates, and as a result, enjoys a more restricted policy space. In this sense, the chapter shows that, beyond macroeconomic policies, the currency hierarchy in a context of high capital mobility limits a range of developmental policies of peripheral countries, reinforcing the unevenness of world economy and constraining combined development.

The purpose of this paper is to check if the rate of employment dismissal in the Spanish labour market is higher for immigrants from countries of the European Neighbourhood Policy (ENP) than for the native-born and the immigrants from other developing countries. It also analyses the impact on this rate of the lower endowment of human capital and the segregation in particular occupations and sectors of ENP immigrants.

The study exploits micro-data from the Labour Force Survey before and during the great depression in Spain. The authors define two groups of immigrants, one for those whose origin is an ENP country and another for those from the rest of the developing countries. Then the rate of job loss is computed for the natives and the two groups of immigrants based on the information for each individual in the sample for each of the years under analysis. An empirical model for the probability of employment dismissal is estimated to check if the immigrant-native gap vanishes when controlling for differences in human capital and occupational, sectoral, and territorial allocation of jobs. This traditional approach is complemented with a new proposal based on the decomposition of the gap using a method that does not impose the same response to the observed characteristics in the three demographic groups under analysis.

Immigrants from ENP face a higher rate of employment dismissal. The gap with respect to natives and even to other immigrants increased during the crisis. Most of the gap can be explained by the lower endowment of human capital of the ENP immigrants and, particularly, by their allocation in certain occupations, sectors, and territories.

Novelties in this paper include: first, the study of employment layoffs for natives and immigrants in a period of crisis in a country such as Spain that attracted massive migration during the booming period; second, the analysis of the origin of the higher rate of employment dismissal for immigrants from the ENP; and third, the proposal of a new approach to assess the contribution of human capital and segregation on the immigrant-native gap in the rate of job loss.

This essay explores the critical vision of Francisco Barrera Lavalle about the Mexico’s Monetary Reform of 1905. In his critique, Barrera inserts an argument about the nature of the balance of payments in the Mexican economy: the disequilibria in Mexico’s trade balance were structurally recurrent given the characteristics of what the country exports: commodities and raw materials. Barrera believed that the authorities made the mistake of overvaluing the peso, assigning it a value higher than what silver currency was worth at the time on international markets. Barrera also dismissed the idea that monetary stability could be achieved by suspending the free coinage of silver currency. Finally, Barrera held that banks should be obligated to pay their banknotes in gold, as they were in Great Britain and in the United States, not in silver coins.

In this chapter, the authors explore collective entrepreneurship through the lens of how public entrepreneurship boosts collective action towards a common good. The role of public entrepreneurs and the collaborative nature of innovation community members evidence a collective action that pursues a socio-political change. Through a case study contextualized during the COVID-19 pandemic crisis in Spain, the authors explore how a public entrepreneur triggered a collective action that led to the creation of the innovation community: The Coronavirus makers. This collaborative network groups more than 20,000 researchers, developers, and engineers. They altruistically put their knowledge and resources at the service of the community to provide solutions for one of the healthcare system’s main problems at that time – the shortage of medical supplies to cope with the increasing number of COVID-19 cases. The collective action of the Coronavirus makers has impacted the health and wellbeing fields, the community and the values that should define social change and allow the construction of a more open, equitable and sustainable society. Potentially, our findings confirm that collective entrepreneurship derives from a function of collective action.