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Optimal Beats Naive Diversification: Asset Allocation Using High-Frequency Data
Pageant Media Ltd (2020-09-20)This article evaluates the usefulness of high-frequency data in optimal portfolio choice. The authors use a comprehensive list of major stock indexes and different frequencies of observations. Furthermore, they consider ... -
Output complexity, environmental conditions, and the efficiency of municipalities
Springer US (2013)Over the last few years, many studies have analyzed the efficiency of local governments in different countries. An accurate definition of their output bundles—i.e., the services and facilities they provide to their ... -
Output complexity, environmental conditions, and the efficiency of municipalities: a robust approach
Instituto Valenciano de Investigaciones Económicas (2010)Over the last few years, many studies have analyzed the productive efficiency of local governments in different countries. An accurate definition of their output bundles -i.e., the services and facilities they provide to ... -
Ownership structure, stakeholder engagement, and corporate social responsibility policies: The moderating effect of board independence
Wiley (2020-01-06)This study primarily purposes to empirically examine the impact of stakeholder engagement mechanism in the form of professional shareholders on the corporate social responsibility (hereafter CSR) disclosure and how the ... -
El papel del Consejo de Administración en la creación de valor en la empresa
Asociación Española de Profesores Universitarios de Contabilidad (2014-05)The aim of this paper is to analyse whether the Board of Directors of Spanish listed companies influence their performance. Several hypotheses are putforward to determine the relationship between the percentage of independent ... -
Performance of Ethical Mutual Funds in Spain: Sacrifice or Premium?
Springer Netherlands (2008-08)There is currently much debate in the economic literature about whether ethical investment involves a financial sacrifice or premium. One of the most common methods of testing this compares the financial performance of ... -
Política presupuestaria y elecciones
Órganos Autonómicos de Control Externo (2013-07)El carácter cíclico de las elecciones ha originado el estudio del efecto que esta periodicidad puede ejercer sobre la política fiscal de los gobiernos, surgiendo así el análisis del Ciclo Político Presupuestario (CPP). ... -
Predicción del fracaso empresarial en los sectores de construcción e inmobiliario: Modelos generales versus específicos
Universia (2013-07)This paper looks at the advantages of industry-focused versus general models to better predict corporate failure. The results confirm that profitability, stock turnover, leverage, liquidity, size, business growth, age, and ... -
Pricing factors in multiple-term structures from interbank
Elsevier (2019-03)This article analyzes the reward for the risk embedded in interbank derivatives, seeking to characterize the size and economic sources of the components of this risk premium in interbank spread quotes. The basis swap (BS) ... -
Quality of government and economic growth at the municipal level: Evidence from Spain
Wiley (2021-07-21)This paper analyzes the relationship between government efficiency—an important dimension of quality of government—and economic growth at the municipal level in 1,820 Spanish municipalities during the period 2008–2015. At ... -
Rating the Raters: Evaluating how ESG Rating Agencies Integrate Sustainability Principles
MDPI (2019)Environmental, social, and governance (ESG) rating agencies, acting as relevant financial market actors, should take a stand on working towards achieving a more sustainable development. In this context, the objective of ... -
Re-examining the risk-return relationship in Europe: Linear or non-linear trade-off?
(2015-07-02)This paper analyzes the risk–return trade-off in Europe using recent data from 11 European stock markets. After relaxing the linear assumptions in the risk–return relationship by introducing a new approach that considers ... -
¿Reaccionan los analistas de riesgos comerciales de las empresas españolas ante los informes de auditoría calificados?: Un estudio empírico
Asociación Española de profesores Universitarios de Contabilidad (ADEPUC) (2008)En este trabajo se presenta un estudio empírico en el que se analiza si los informes de auditoría aportan información relevante en la evaluación de los riesgos comerciales de las empresas. Para ello se ha realizado un ... -
Regulation, Supervision and Accounting Conservatism: The Interactionof the Three Pillars of Basel II on the Quality of Reported Earnings inWorldwide Banks
Asociación Española de Profesores Universitarios de Contabilidad, ASEPUC (2023)Accounting conservatism is a quality of earnings positively associated with the strength of banking regu- lation and supervision and also high market discipline, but there still remains the unresolved question of the way ... -
Reporting Sustainable Development Goal 12 in the Spanish food retail industry. An analysis based on Global Reporting Initiative performance indicators
Wiley (2023)Companies play a significant role in addressing the challenges of the SustainableDevelopment Goals (SDGs), and sustainability reporting is a strategic tool for decisionmaking and impact disclosure. This study assesses food ... -
Revisiting the Relationship Between Corporate Stakeholder Commitment and Social and Financial Performance
Wiley (2017)This study delves into the long-term relationship between social and financial performance of organizations. The aim of this study is to analyse the evolution of this relationship during the global financial crisis to ... -
Revisiting the Silver Crisis
Elsevier (2022-09-22)This paper examines the Silver Crisis of the late 1970s, which resulted in a $150 million lawsuit against the Hunt Brothers. In August 1988, the Hunt Brothers were found guilty by a jury of conspiracy, manipulation, ... -
Risk Disclosure and Cost of Equity: ABayesian Approach
Instituto Tecnológico Metropolitano (2020)El objetivo de este artículo es analizar la relación entre la divulgación de información sobre riesgo y el coste de capital de los recursos propios de empresas que cotizan en el mercado de capitales español. Este estudio ... -
Risk information disclosure and its impact on analyst forecast accuracy
ProQuest (2020-07)This paper aims to analyse the influence of risk information disclosure on the accuracy of financial analysts’ earnings forecasts for the Spanish stock market. To do this, we performed a regression analysis with panel ... -
SDG reporting: an analysis of corporate sustainability leaders
Emerald Publishing Limited (2023)Purpose This study aims to empirically analyze a sound commitment and a consistent integration of sustainable development goals (SDGs) in the corporate reporting and management systems of companies that have a leading ...