Listar COFIN_Articles por título
-
Las nuevas normas contables de arrendamientos: causas y potenciales efectos económicos
Centro de Estudios Financieros (2017-01)Lease accounting has been controversiAL for decades. The alternative accounting treatments are in between two extreme positions: recognizing assets and liabilities in the balance sheet, or disclosing the information in the ... -
Lead-lag relationship between spot and futures stock indexes: Intraday data and regime-switching models
Elsevier (2020-04-08)This paper analyzes the impact of arbitrage opportunity changes on the price discovery process between the DAX30 index and the DAX30 index future within a short time scale. To this end, we use 5-min data, regime-switching ... -
Liberalization and Risk-Taking: Evidence from Government-Controlled Banks
Oxford University Press (2014-07)We study the effects of the interplay between deregulation and governance on risk-taking in the financial industry. We consider the removal of regulatory geographic constraints for savings banks in Spain, the cajas, which ... -
Lights and shadows on sustainability rating scoring
Springer (2014)Many organizations currently publish sustainability ratings that quantify the sustainability of firms by aggregating scores. These organizations analyze companies in economic, social, environmental and corporate governance ... -
Liquidity and hedging effectiveness under futures mispricing: International evidence
Wiley (2009)We analyze the hedging effectiveness of positions that replicate stock indexes using corresponding futures contracts through the application of a dynamic, stochastic hedging strategy proposed by Lafuente, J. A. and Novales, ... -
Local government efficiency: determinants and spatial interdependence
Taylor and Francis Group (2019)We analyse the determinants of local government efficiency taking into account the presence of spatial interactions among neighbouring municipalities. To do so, first we estimate an efficiency index using the robust order-m ... -
Local governments' re-election and its determinants: New evidence based on a Bayesian approach
Elsevier (2015)We analyzed the effect of public spending on the probability of re-election of Spanish local governments during the 2000–2007 period using Bayesian techniques. Although the literature on political budget cycles is now ... -
Looking for sustainable development: Socially responsible mutual funds and the low‐carbon economy
John Wiley and Sons (2020)Sustainable investment responds to demands for carbon and climate‐neutral societies. To address the urgency around climate change and provide investors with more qualified information, Morningstar has developed the Low ... -
Market must be defended: The role of counter-espionage policy in protecting domestic market welfare
Elsevier (2022-01-08)Governments of advanced economies are extremely concerned about the illicit acquisition of information on critical technologies employed by their industries, and countering this economic espionage is quickly becoming one ... -
Market risk aversion under volatility shifts: An experimental study
Elsevier (2022-03-15)We propose an experiment to analyze the relationship between volatility regimes and investors’ behavior and explore the mechanism by which aggregated risk aversion is configured. We design a market in which the volatility ... -
Materiality Analysis for CSR Reporting in Spanish SMEs
International School for Social and Business Studies (2013)Most corporate social responsibility (CSR) standards have not been designed to be implemented in small and medium sized enterprises (SMEs). Given that 99% of Spanish companies are SMEs, this study aims to propose ... -
Measuring Corporate Environmental Performance: A Methodology for Sustainable Development
Wiley (2015-08-22)Assessing corporate environmental performance (CEP) that is both comprehensive and consistent with sustainable development both for society and companies, while at the same time taking heed of the facts and interests of ... -
Measuring the hedging effectiveness of index futures contracts: Do dynamic models outperform static models? A regime-switching approach
(2015-07-06)This paper estimates linear and non-linear GARCH models to find optimal hedge ratios with futures contracts for some of the main European stock indexes. By introducing non-linearities through a regime-switching ... -
Microfinance institutions fostering sustainable development
Wiley (2018)The microfinance sector is considered an important contributor to the expansion of formal financial systems. It plays a significant role in sustainable development. Microfinance institutions (MFIs) as key actors in the ... -
Microfinance Institutions Fostering Sustainable Development by Region
MDPI (2020)In the last few years, considerable attention has been paid to microfinance as a relevant participant in the formal financial system, whose target audience is people who are otherwise at risk of financial exclusion. In ... -
Microfinance literature: A sustainability level perspective survey
Elsevier (2017-01)Since the early microcredit programs up to the present, microfinance has grown exponentially, as it has the academic interest on it as a research subject. Considering that this sector has impact in terms of sustainability, ... -
Migration networks and return expectations. The case of Romanians in Spain
(2015)In recent years, studies concerning interpersonal relations and their various implications are increasingly being taken as a basis for analysing the migration process, to determine the nature and impacts of migratory ... -
Monitoring, Corporate Performance and Institutional Directors
Wiley (2018)Our main objective is to study the effect of institutional directors on firm performance, distinguishing directors according to whether they maintain business relationships (pressure‐sensitive) or not (pressure‐resistant). ... -
Mutual fund performance and changes in factor exposure
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 ... -
Mutual fund performance attribution and market timing using portfolio holdings
Elsevier (2018-09)We propose a novel performance attribution model for equity fund portfolios. The model analyses investment decisions based on portfolio holdings and measures the value added from different sources of performance such as ...