• closedAccess   Analysis of the Spanish System of Mutual Guarantee Societies: Comparative study by Autonomous Regions 

      Albis, Lacramioara Universitat Jaume I (2015-12-14)
      In the context of the current economic and financial downturn, the barriers to bank credit for the small and medium-sized enterprises (SMEs) have become more and more insurmountable. Faced with this situation and given the ...
    • openAccess   Credit Quality and Substitution in SME Finance 

      Norden, Lars; Van Kampen, Stefan; Illueca, Manuel World Scientific Publishing (2021-09-02)
      We investigate whether and how SMEs’ credit quality influences their substitution of bank credit for trade credit. Using data from the five largest European countries, we find that substitution of bank credit for trade ...
    • openAccess   Mutual fund performance and changes in factor exposure 

      Bessler, Wolfgang; Conlon, Thomas; de Mingo-López, Diego Víctor; Matallín Sáez, Juan Carlos Wiley (2022-03-21)
      In this article, we examine whether active mutual funds that markedly change their exposure to systematic risk factors subsequently outperform. We propose a new returns-based approach to assess the degree to which mutual ...
    • closedAccess   Profitability of spanish savings banks according to size, efficiency and risk 

      Monferrer Angel, Santiago Universitat Jaume I (2015)
      In Spain between 2007 and 2010 there has been a restructuring in the sector of savings banks, which has led to the virtual disappearance of dominant positions by mergers and subsequent changes in ownership structure ...
    • openAccess   Upside versus downside risk: Gender, stakes, and skewness 

      Comeig, Irene; Holt, Charles; Jaramillo-Gutiérrez, Ainhoa Elsevier (2022-05-29)
      Risky choices often involve a tradeoff between expected payoff and payoff variability. Subjects in a simple experiment, however, exhibit more aversion to “downside risk” (with a small probability of a low payoff) and more ...
    • closedAccess   Why is timing perverse? 

      Matallín Sáez, Juan Carlos; Moreno, David; Rodríguez, Rosa Taylor & Francis (2015)
      The existence of negative market timing, even for passive portfolios, poses a relevant puzzle when assessing portfolio management. In this paper, we develop a simple theoretical model so as to explain why such perverse ...