Sara Fernández-López, David Rodeiro-Pazos, Nuria Calvo and María Jesús Rodríguez-Gulías
The purpose of this paper is to explore the relationship between the availability and use of IT solutions for strategic knowledge management (SKM) and the universities’…
Abstract
Purpose
The purpose of this paper is to explore the relationship between the availability and use of IT solutions for strategic knowledge management (SKM) and the universities’ performance, measured in terms of scientific production.
Design/methodology/approach
Drawing on the resource-based view (RBV) and the knowledge-based theory, the authors develop a conceptual framework for exploring the effect of SKM based on IT on the organisation’s performance that they empirically test by applying panel data methodology to a sample of 70 Spanish universities over the period 2011-2014.
Findings
The authors confirm that the SKM based on IT influences the university’s performance. This effect is positive in the case of the IT solutions referred to the infrastructure of data grouping and more evident when the university’s performance is measured by indicators more directly related to scientific quality. Contrary to expected, the percentage of training and research staff that uses institutional tools of collaborative work is negatively related with the universities’ capacity of publication.
Practical implications
The authors followed the system dynamics approach to identify a causal diagram and a flow sequence that lets them group universities in three different profiles in the knowledge management (KM) flow diagram.
Originality/value
First, the authors develop a conceptual framework for exploring the effect of SKM based on IT on the organisation’s performance that could be applicable to analyse the case of other knowledge-driven organisations. Second, in contrast with the large number of studies dealing with SKM and performance focused on firms, the authors analyse universities. Third, the authors’ empirical approach used the panel data methodology with a large sample of universities over the period 2011-2014.
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David Rodeiro-Pazos, María Jesús Rodríguez-Gulías and Sara Fernández-López
The purpose of this paper is to explore the survival of university spin-offs (USOs) in Spain. First, the survival rates of USOs are compared with those of a group of similar…
Abstract
Purpose
The purpose of this paper is to explore the survival of university spin-offs (USOs) in Spain. First, the survival rates of USOs are compared with those of a group of similar firms. Second, the firm-specific characteristics of surviving USOs are compared with those of failed USOs.
Design/methodology/approach
The study is based on two subsamples consisting of 469 USOs and 469 non-USOs. A matching procedure is used for identifying a valid control group that allows for an outcome comparison between USOs and non-USOs. A longitudinal data set (2000-2010) is constructed, combining data regarding firm-specific characteristics and patent activity. The survival rates of both USOs and non-USOs are described first, and then, the firm-specific characteristics of the surviving USOs are discussed and compared with those of the failed USOs.
Findings
The authors find that the survival rates of the USOs are slightly lower than those of the non-USOs. In addition, the failed USOs have a longer average life span than the failed non-USOs. Finally, the data show that the surviving USOs are more likely to have venture capital investors, exports and patents than the failed USOs.
Research limitations/implications
This study carries out an explanatory analysis of the survival of Spanish USOs. As the results showed no significant differences between the characteristics of the surviving USOs and those that failed, except for subtle differences in the profiles of the two groups, it is necessary to analyse the underlying causes of this situation.
Practical/implications
In many countries, large amounts of public funds have been invested in the creation of USOs. This policy only makes sense if these firms increase the business value and create jobs. The support of USOs with a low expectation of survival or economic viability opens a debate on the amount of public funds invested in these firms. In the current context, funding obtained by these companies could be considered to drain resources from those projects that really deserve to be targeted.
Originality/value
The creation of USOs has become a mainstay of universities’ entrepreneurship strategies. Analysing USOs’ survival is therefore crucial for understanding the contribution of entrepreneurial universities to society. Survival is not another measure of this performance, but it is a pre-condition for university-based entrepreneurship to have an effect on society.
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María Jesús Rodríguez-Gulías, Sara Fernández-López and David Rodeiro-Pazos
The purpose of this paper is to explore the hypothesis that the female-owned university spin-off organizations (USOs) have a similar resource endowment and, as a consequence…
Abstract
Purpose
The purpose of this paper is to explore the hypothesis that the female-owned university spin-off organizations (USOs) have a similar resource endowment and, as a consequence, growth rates similar to the male-owned USOs.
Design/methodology/approach
A unique and original longitudinal data set, which is an unbalanced panel, consisting of 120 Spanish USOs over the period 2001-2010 has been constructed. The methodology includes the analysis of mean differences (t-test) and dynamic panel data models.
Findings
The results confirmed that there are no gender differences in either the firms’ initial resource endowment or in the preference for industries. There is no gender effect on the USOs’ growth, but the initial endowment resources matter. Thus the financial, human and technological resources have a positive effect on the USOs’ growth. This evidence suggests that the USOs’ context may mitigate the initial resource endowment of the female-owned firms and their preferences for traditional industries, showing similar rates of growth than male-owned USOs.
Research limitations/implications
Owners’ gender has been used as a proxy for founders’ gender. Also, only USOs included in the SABI database have been considered as part of the sample; the significant number of USOs that did not reveal information about their owners have been discarded.
Practical implications
It is important to continue supporting academic entrepreneurship, as in the university context, firm growth is not affected by gender differences. However, given that the percentage of female owners in university entrepreneurship is still lower compared to entrepreneurship in general, the universities’ entrepreneur programmes targeting women must adopt a gendered perspective.
Originality/value
Literature on USOs has traditionally analyzed the firm-specific characteristics that impact their growth without considering the influence of the owners’ gender. In this paper, an attempt to fill this gap has been made using a sample of 120 Spanish USOs and by applying the dynamic panel data methodology. In particular, it has been argued that the university context from which USOs emerge allows female-owned USOs to have a similar resource endowment and, as a consequence, a similar growth when compared to male-owned USOs.
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Carmen Coronado, Carla Freijomil-Vázquez, Sara Fernández-Basanta, Elena Andina-Díaz and María-Jesús Movilla-Fernández
Higher education institutions have a significant impact in preparing future generations for the creation of a sustainable society. By formulating appropriate curricula, the…
Abstract
Purpose
Higher education institutions have a significant impact in preparing future generations for the creation of a sustainable society. By formulating appropriate curricula, the university can shape student personality with sustainability concerns. This study aims to present the results of a teaching approach on environmental sustainability using the photovoice methodology. A guided visit to the sewage treatment plant of A Coruña was included as a teaching activity in the “Microbiology and Parasitology” classes of the podiatry degree at University of A Coruña. The teaching objectives were to reinforce contents through observation and to introduce citizen awareness on sustainability and responsible water use in a cross-sectional manner.
Design/methodology/approach
In this case study, different steps of photovoice as a qualitative participatory action methodology were developed. A total of 43 university students willingly participated with their photographs. Qualitative data were collected from the students’ photovoice visit reports and a subsequent discussion group. Thematic content analysis was performed manually.
Findings
This study explored the impact of an environmental sustainability teaching activity on the university student community. Six main categories emerged from the qualitative analysis: savings/waste of water, misuse of the water closet, disposing of used oil, solid waste/trash, reuse of clean water and reuse/reduction of the use of plastics. The cross-sectional findings on the needs of education and awareness of sustainability in the community and companies are presented.
Originality/value
The findings provide evidence of the ability of photovoice method as a pedagogical tool to promote reflection and change in the university community and to introduce sustainability cross-sectional content in green campus curricula. This photovoice experiment is simple and feasible to implement and has a very low economic cost, as long as there are qualified educators.
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Christian Corsi, Antonio Prencipe, María Jesús Rodríguez-Gulías, Sara Fernández-López and David Rodeiro-Pazos
The purpose of this paper is to explore the hypothesis that the university context may partially determine the growth of university spin-offs (USOs), with a cross-national…
Abstract
Purpose
The purpose of this paper is to explore the hypothesis that the university context may partially determine the growth of university spin-offs (USOs), with a cross-national analysis and using an “interactionist” approach.
Design/methodology/approach
Two samples of USOs, from Spain and Italy (531 and 952 firms, respectively), were examined over the 2005-2013 period. Multilevel modelling was applied to empirically test the hypotheses.
Findings
The results confirmed that the university context is a critical and effective element for explaining USOs’ growth. The university context affected USOs’ growth only for the Spanish firms, while for the Italian spin-offs the evidence does not report a significant determining influence of the university context. This finding may be interpreted as the localization externalities, determined by the Spanish universities, have a more effective impact at firm level compared with those generated by the Italian universities.
Research limitations/implications
The paper provides evidence that the university context has a significant role in supporting USOs’ growth in Spain, but not in Italy. This finding, together with the fact that the Italian USOs showed lower growth rates over the period of analysis, may suggest that greater involvement by the Italian parent universities is needed to foster USOs’ growth. The main point to be underlined to decision makers is that policies aimed at fostering USOs need the active involvement of the parent university in the whole growth process of the nascent firm, rather than just in the USO creation process.
Originality/value
A multilevel approach provides both methodological and theoretical contributions to the study of USOs’ growth, which was adopted as an “interactionist” approach is recommended by literature. In addition, a cross-national approach allows for exploration of the actual effect of the university on the growth of USOs, taking into account international differences.
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Milagros Vivel-Búa, Lucía Rey-Ares, Rubén Lado-Sestayo and Sara Fernández-López
The purpose of this paper is to study the driving forces of both the decision to participate in individual pension plans and the amount of money allocated to such plans. Moreover…
Abstract
Purpose
The purpose of this paper is to study the driving forces of both the decision to participate in individual pension plans and the amount of money allocated to such plans. Moreover, this paper evaluates the potential role that income plays, which has not previously been considered in depth in the financial literature.
Design/methodology/approach
Based on a sample of the Spanish population over the period 2008–2015, this paper estimates probit and tobit models, using 165,791 observations. The driving forces of private retirement savings comprise demographic, financial and socio-economic characteristics.
Findings
This paper confirms the impact of socio-demographic and economic variables on participation and monetary contributions to pension plans. It also confirms that income plays a non-negligible role. Moreover, empirical evidence reveals that the effect of gender is related to the income stratum to which the individual belongs.
Originality/value
Retirement planning plays a key role in retirees’ future income and several countries have emphasised the importance of private individual savings to supplement the minimum provided by public pension schemes. The previous literature has concluded that those who plan their retirement end their working lives with three times the wealth of non-planners. Consequently, analysis of whether people are saving enough for their retirement can contribute to avoiding future wealth inequalities among retirees. Spain is one of the countries with the greatest inequality in income distribution, so this issue is of even greater interest.
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Sara Fernández, Ángela Triguero and Esteban Alfaro-Cortés
The purpose of this paper is to explore the effects of mergers and acquisitions (M&As) on innovation and profitability in large European firms.
Abstract
Purpose
The purpose of this paper is to explore the effects of mergers and acquisitions (M&As) on innovation and profitability in large European firms.
Design/methodology/approach
Using information from a unique micro-longitudinal database of top European R&D investors and information from the European Commission (EC) Merger Control Authority, dynamic panel estimations with firm-level fixed effects are performed. Moreover, the paper presents a qualitative case study of a merger in the European electronic and electrical equipment industry.
Findings
The analysis of a sample of 562 M&As authorized by the EC Merger Control Authority shows that mergers positively influence the R&D intensity and profitability of top companies in the European Union over the period 2004–2012. Furthermore, empirical evidence shows that the timing and magnitude of these effects differs. In particular, the positive effect of mergers on R&D intensity is found for the short and large term while they influence profitability only in the large term.
Originality/value
This paper makes several contributions. First, unlike other studies on this topic, it investigates the effects of M&As using firm-level panel data on the top 1,000 European R&D companies instead of only examining a case study. Second, a unique data set has been used, which collects information on large European firms from the European Industrial R&D Investment Scoreboard and the EC antitrust authority. Finally, the paper accounts for the casual link between innovation effort and profitability when evaluating the potential effect of M&As on the R&D intensity and profitability of large European firms.
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Sara Fernández-López, Lucía Rey-Ares and Milagros Vivel-Búa
The purpose of this paper is to adopt a behavioural approach to explain how the internet use influences stock market participation (SMP) decisions.
Abstract
Purpose
The purpose of this paper is to adopt a behavioural approach to explain how the internet use influences stock market participation (SMP) decisions.
Design/methodology/approach
Drawing on the literature on sociability and SMP, this paper analyses whether virtual sociability affects SMP decision in a sample of 34,715 individuals in 14 European countries.
Findings
The results show that internet users are more likely to be stockowners. However, the obtained evidence does not support either an informational effect or a social multiplier effect of the virtual sociability. After controlling by the country’s SMP rates, a positive effect of internet usage on SMP decision remains, suggesting that contextual factors matter rather than internet usage per se. Thus, in countries where individuals are “used” to being stockholders, the habit of using internet increases SMP, but the “breeding ground” is a necessary condition.
Originality/value
The massive use of the internet provides a valuable opportunity to find evidence of the frictional costs which would act as inhibitors of the SMP, as economic theory hypothesised. After some promising results, the differences in the evolution of both the SMP and internet usage rates have not confirmed the initial enthusiasm. In addition, the question of why the SMP rates systematically differ across countries still remains open.
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Sara Fernández-López, David Rodeiro-Pazos, Fernando García González and María Jesús Rodríguez-Gulías
This study aims to determine that the factors that lead to university spin-offs (USOs) high-growth firms (HGFs). In recent years, HGFs have been a topic of growing interest in the…
Abstract
Purpose
This study aims to determine that the factors that lead to university spin-offs (USOs) high-growth firms (HGFs). In recent years, HGFs have been a topic of growing interest in the field of economic research because of these companies’ capacity for job creation and the dynamism they bring to the growth of the economy. In parallel, companies that are born of knowledge or technology developed at universities, known as university spin-offs, have also received attention from the literature in entrepreneurship.
Design/methodology/approach
In this study, to analyse the extent to which USOs have become HGFs, a sample of 237 Spanish companies with university origins for a period of study from 2007 to 2014 were used. To contrast the present study’s hypotheses, eight different models were estimated using probit models.
Findings
The results show that factors such as number of employees, internationalization, profitability and indebtedness positively affect the probability that a USO will become an HGF. However, for age, industry, innovation, the presence of venture capital and productivity, no statistically significant relationship could be found.
Originality/value
This study contributes to the literature in HGFs and university entrepreneurship in different ways. First, to the best of the authors’ knowledge, no previous studies have analysed the determinants of becoming an HGF from a USO. Second, hypotheses that, until now, had not been analysed in previous studies, in particular the fact of being a knowledge-intensive company, are tested. Third, the results obtained allow the establishment of recommendations to improve policies to support HGF-USO.
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Lucía Rey-Ares, Sara Fernández-López, María Milagros Vivel-Búa and Rubén Lado-Sestayo
This paper aims to investigate whether individuals’ planning horizon influences their decision to save privately for their retirement.
Abstract
Purpose
This paper aims to investigate whether individuals’ planning horizon influences their decision to save privately for their retirement.
Design/methodology/approach
Focussing on Spain, this empirical research uses the fifth wave of the Survey of Health, Ageing and Retirement in Europe (SHARE)[1]. Logit models are estimated considering variables related to demographic characteristics, economic situation, education and cognitive abilities and psychological and social factors.
Findings
The results confirm that the planning horizon significantly influences the decision to save for retirement. Long-term planners are more likely to save for retirement than short-term planners.
Originality/value
Although previous literature has identified the planning horizon as a relevant variable in the decision to save for retirement, few empirical studies have evaluated their impact. This paper shows that it is important to develop habits of financial planning in societies, especially in societies with a prominent orientation towards the present.