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Volumen 56 (2020): Edición 4 (December 2020)

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Volumen 55 (2019): Edición 4 (December 2019)

Volumen 55 (2019): Edición 3 (September 2019)

Volumen 55 (2019): Edición 2 (June 2019)

Volumen 55 (2019): Edición 1 (March 2019)

Volumen 54 (2018): Edición 4 (December 2018)

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Volumen 54 (2018): Edición 2 (June 2018)

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Detalles de la revista
Formato
Revista
eISSN
2543-5361
Publicado por primera vez
17 Oct 2014
Periodo de publicación
4 veces al año
Idiomas
Inglés

Buscar

Volumen 55 (2019): Edición 4 (December 2019)

Detalles de la revista
Formato
Revista
eISSN
2543-5361
Publicado por primera vez
17 Oct 2014
Periodo de publicación
4 veces al año
Idiomas
Inglés

Buscar

8 Artículos

Editorial

access type Acceso abierto

Editorial

Publicado en línea: 31 Dec 2019
Páginas: 285 - 286

Resumen

Empirical Paper

access type Acceso abierto

Does the compensation gap between executives and staffs influence future firm performance? The moderating roles of managerial power and overconfidence

Publicado en línea: 31 Dec 2019
Páginas: 287 - 318

Resumen

Abstract

The study aims at identifying the influence of interior pay gap between senior executives and ordinary employees on the organization’s future performance for listed Chinese firms. In addition, two other moderator variables have been included in the study referring management power as the percentage of senior managers holding “A” category shares for more than one position. The other one is managerial overconfidence defined as the change in management holdings by themselves (managers) positively. The paper is based on secondary data extracted from China’s ‘A’ listed companies in Shanghai and Shenzhen Stock Exchanges with a valid sample size of 1,189. After detailed analysis (Pearson correlation and regression) between the variables, it was found that there is a moderate positive relationship between the pay gap and firms’ future performance. The results further indicate that management power and overconfidence weaken the relationship between pay gap and corporate performance. The authors hope that this empirical study can guide the academicians intending to further excavate in this relatively uncharted area as well as the corporate body and top managers who seek some guidelines to formulate an effective pay plan.

Palabras clave

  • China
  • pay gap
  • performance
  • firm
  • managerial power
  • managerial overconfidence

JEL Classification

  • M1
  • M14
access type Acceso abierto

Corporate governance vs management of the intellectual capital of banks: Structural equation modeling (SEM)

Publicado en línea: 31 Dec 2019
Páginas: 319 - 330

Resumen

AbstractObjective

The aim of this paper is to identify basic relationships between intellectual capital efficiency in banks, their corporate governance, and their financial performance. Examining these relationships seems justified as up to now the topic has been investigated relatively rarely.

Methods

Structural Equation Modeling was used to accomplish the research objective. The structure of the research tool and the subject matter analysed in the study were drawn from reviews of the subject literature. Quarterly data for the years 2007–2017 published in reports and financial statements of banks listed on the Warsaw Stock Exchange formed the basis for the analysis.

Findings

The results of the conducted analysis do sustain the postulated hypothesis that corporate governance and intellectual capital of banks listed on the Warsaw Stock Exchange have a concurrent, positive impact on financial performance At the same time the relationship between intellectual capital efficiency and (selected features of) corporate governance turned out to be ambiguous and statistically insignificant.

Practical implication

The proposed model of structural equations may be used to identify the relationship in question, or its lack, in other areas of organisational activity. Furthermore, the study results provide guidelines for executives with respect to intellectual capital management and corporate governance.

Originality/value

SEM is a new, original proposal for measurement and presentation of the relationship between intellectual capital efficiency in banks, their corporate governance, and their financial performance.

Palabras clave

  • corporate governance
  • intellectual capital
  • structural equation modeling

JEL Classification

  • G14
  • G21
  • G34
  • M12
  • O34
access type Acceso abierto

Antecedents of loyalty intentions among young adult tourists: a survey

Publicado en línea: 31 Dec 2019
Páginas: 331 - 345

Resumen

Abstract

The purpose of this paper was to examine the antecedents of young adult tourists’ loyalty intentions. The study is concerned with the overall loyalty tendencies of individuals, comprising the two dimensions of revisit intentions (RVIs) and recommendation intentions (RIs), and thus does not explore their loyalty to a specific destination (as in most previous studies). The research uses an Internet questionnaire with a total sample of 305 university students recruited from two Polish universities. Statistical analysis with the partial least squares structural equation modeling method indicates that destination RI is mainly driven by social bonding, while RVI is influenced positively by risk and uncertainty avoidance and negatively by novelty and variety seeking. In addition, income is found to be a significant moderator in the relationship between risk and uncertainty perception and RIs, such that a transition from very low to very high incomes tends to reverse the focal relationship from positive to negative. In addition, the research demonstrates that there is no significant difference between male and female young tourist’s loyalty intention. Implications for tourism entrepreneurs and destinations are suggested in the concluding section of the article.

Palabras clave

  • loyalty in tourism
  • destination loyalty
  • recommendation intention
  • revisit intention
  • PLS-SEM

JEL Classification

  • Z32
  • Z33
  • M31

Theoretical Paper

access type Acceso abierto

Sharing economy and the city

Publicado en línea: 31 Dec 2019
Páginas: 346 - 368

Resumen

Abstract

Sharing economy is a very broad term, covering various areas and forms of human activity. It includes activities of individuals, social groups, and enterprises, as well as local and state authorities, which aim to enable, facilitate, or even organize the sharing of resources. Sharing economy has an increasing importance and is accompanied by large-scale changes of revolutionary character embodied in innovative thinking. In this paper, a multidimensional assessment of the sharing economy from the perspective of various groups of stakeholders is undertaken. In order to analyze this phenomenon in more depth, the analyzed field of sharing economy has been narrowed subjectively (to the sphere of operations of for-profit corporations from this sector) and territorially (to the area of cities, as special places attracting sharing economy start-ups). The analysis has found that although the idea of sharing creates new opportunities, it also causes new challenges for cities’ functioning and development, especially when considering the influence of large sharing economy companies on other stakeholders. The findings also show that not only does sharing economy have an uneven impact on the functioning of different cities but it also has heterogeneous consequences for different groups of stakeholders in the same city.

Palabras clave

  • sharing economy
  • city
  • sharing city
  • innovation
  • ridesharing
  • homesharing
  • city’s stakeholders
  • Uber
  • BlaBlaCar
  • Airbnb

JEL Classification

  • R1
access type Acceso abierto

Response to urban challenges by global cities within developmental states: The case of Tokyo and Seoul

Publicado en línea: 31 Dec 2019
Páginas: 369 - 390

Resumen

Abstract

Tokyo and Seoul, the two leading East Asian global cities, operate under “developmental states.” They often struggle for control over major urban initiatives against their strong state government agencies as they seek prominence in the global city hierarchy. Through comparative review of approaches to national policy development, this paper traces the similarities of the two countries in approaching national economic development and how that influences their capital city’s capacity to manage growth and urbanization pressures. We focus on some major urban development initiatives in Tokyo and Seoul between 1970 and 2010 to test the notion whether global cities get “disembedded” from their state or national context as they integrate into the globalized economy. We contend that national and local societal developments continue to drive the cities’ growth patterns, albeit influenced by overall global forces, while the global cities and their nation states evolve ways to compete and collaborate in the pursuit of common interests.

Palabras clave

  • global city
  • developmental state
  • global projects

JEL Classification

  • O20
  • R0

Conceptual Paper

access type Acceso abierto

The productivity growth slowdown in advanced economies: causes and policy recommendations

Publicado en línea: 31 Dec 2019
Páginas: 391 - 406

Resumen

Abstract

The growth of total factor productivity (TFP) in advanced economies has slowed significantly after the 1970s. The global financial crisis (GFC) has resulted in the second productivity growth slowdown. This paper, on the basis of a broad literature review, identifies the structural forces and legacies of the financial crisis, explaining the productivity growth slowdown and providing possible policy solutions. The mismeasurement hypothesis is also discussed. The slowing pace of innovations, population aging, slowing human capital accumulation, limits of structural transformation, capital misallocation, and firm-level factors are identified as structural forces slowing TFP growth. Lack of capital deepening, financial frictions, and slowdown of international trade are the most important legacies of GFC affecting productivity growth.

Palabras clave

  • macroeconomics
  • productivity
  • TFP
  • productivity growth slowdown

JEL Classification

  • D24
  • E01
  • E24
  • O47
access type Acceso abierto

List of reviewers 2019

Publicado en línea: 31 Dec 2019
Páginas: 407 - 409

Resumen

8 Artículos

Editorial

access type Acceso abierto

Editorial

Publicado en línea: 31 Dec 2019
Páginas: 285 - 286

Resumen

Empirical Paper

access type Acceso abierto

Does the compensation gap between executives and staffs influence future firm performance? The moderating roles of managerial power and overconfidence

Publicado en línea: 31 Dec 2019
Páginas: 287 - 318

Resumen

Abstract

The study aims at identifying the influence of interior pay gap between senior executives and ordinary employees on the organization’s future performance for listed Chinese firms. In addition, two other moderator variables have been included in the study referring management power as the percentage of senior managers holding “A” category shares for more than one position. The other one is managerial overconfidence defined as the change in management holdings by themselves (managers) positively. The paper is based on secondary data extracted from China’s ‘A’ listed companies in Shanghai and Shenzhen Stock Exchanges with a valid sample size of 1,189. After detailed analysis (Pearson correlation and regression) between the variables, it was found that there is a moderate positive relationship between the pay gap and firms’ future performance. The results further indicate that management power and overconfidence weaken the relationship between pay gap and corporate performance. The authors hope that this empirical study can guide the academicians intending to further excavate in this relatively uncharted area as well as the corporate body and top managers who seek some guidelines to formulate an effective pay plan.

Palabras clave

  • China
  • pay gap
  • performance
  • firm
  • managerial power
  • managerial overconfidence

JEL Classification

  • M1
  • M14
access type Acceso abierto

Corporate governance vs management of the intellectual capital of banks: Structural equation modeling (SEM)

Publicado en línea: 31 Dec 2019
Páginas: 319 - 330

Resumen

AbstractObjective

The aim of this paper is to identify basic relationships between intellectual capital efficiency in banks, their corporate governance, and their financial performance. Examining these relationships seems justified as up to now the topic has been investigated relatively rarely.

Methods

Structural Equation Modeling was used to accomplish the research objective. The structure of the research tool and the subject matter analysed in the study were drawn from reviews of the subject literature. Quarterly data for the years 2007–2017 published in reports and financial statements of banks listed on the Warsaw Stock Exchange formed the basis for the analysis.

Findings

The results of the conducted analysis do sustain the postulated hypothesis that corporate governance and intellectual capital of banks listed on the Warsaw Stock Exchange have a concurrent, positive impact on financial performance At the same time the relationship between intellectual capital efficiency and (selected features of) corporate governance turned out to be ambiguous and statistically insignificant.

Practical implication

The proposed model of structural equations may be used to identify the relationship in question, or its lack, in other areas of organisational activity. Furthermore, the study results provide guidelines for executives with respect to intellectual capital management and corporate governance.

Originality/value

SEM is a new, original proposal for measurement and presentation of the relationship between intellectual capital efficiency in banks, their corporate governance, and their financial performance.

Palabras clave

  • corporate governance
  • intellectual capital
  • structural equation modeling

JEL Classification

  • G14
  • G21
  • G34
  • M12
  • O34
access type Acceso abierto

Antecedents of loyalty intentions among young adult tourists: a survey

Publicado en línea: 31 Dec 2019
Páginas: 331 - 345

Resumen

Abstract

The purpose of this paper was to examine the antecedents of young adult tourists’ loyalty intentions. The study is concerned with the overall loyalty tendencies of individuals, comprising the two dimensions of revisit intentions (RVIs) and recommendation intentions (RIs), and thus does not explore their loyalty to a specific destination (as in most previous studies). The research uses an Internet questionnaire with a total sample of 305 university students recruited from two Polish universities. Statistical analysis with the partial least squares structural equation modeling method indicates that destination RI is mainly driven by social bonding, while RVI is influenced positively by risk and uncertainty avoidance and negatively by novelty and variety seeking. In addition, income is found to be a significant moderator in the relationship between risk and uncertainty perception and RIs, such that a transition from very low to very high incomes tends to reverse the focal relationship from positive to negative. In addition, the research demonstrates that there is no significant difference between male and female young tourist’s loyalty intention. Implications for tourism entrepreneurs and destinations are suggested in the concluding section of the article.

Palabras clave

  • loyalty in tourism
  • destination loyalty
  • recommendation intention
  • revisit intention
  • PLS-SEM

JEL Classification

  • Z32
  • Z33
  • M31

Theoretical Paper

access type Acceso abierto

Sharing economy and the city

Publicado en línea: 31 Dec 2019
Páginas: 346 - 368

Resumen

Abstract

Sharing economy is a very broad term, covering various areas and forms of human activity. It includes activities of individuals, social groups, and enterprises, as well as local and state authorities, which aim to enable, facilitate, or even organize the sharing of resources. Sharing economy has an increasing importance and is accompanied by large-scale changes of revolutionary character embodied in innovative thinking. In this paper, a multidimensional assessment of the sharing economy from the perspective of various groups of stakeholders is undertaken. In order to analyze this phenomenon in more depth, the analyzed field of sharing economy has been narrowed subjectively (to the sphere of operations of for-profit corporations from this sector) and territorially (to the area of cities, as special places attracting sharing economy start-ups). The analysis has found that although the idea of sharing creates new opportunities, it also causes new challenges for cities’ functioning and development, especially when considering the influence of large sharing economy companies on other stakeholders. The findings also show that not only does sharing economy have an uneven impact on the functioning of different cities but it also has heterogeneous consequences for different groups of stakeholders in the same city.

Palabras clave

  • sharing economy
  • city
  • sharing city
  • innovation
  • ridesharing
  • homesharing
  • city’s stakeholders
  • Uber
  • BlaBlaCar
  • Airbnb

JEL Classification

  • R1
access type Acceso abierto

Response to urban challenges by global cities within developmental states: The case of Tokyo and Seoul

Publicado en línea: 31 Dec 2019
Páginas: 369 - 390

Resumen

Abstract

Tokyo and Seoul, the two leading East Asian global cities, operate under “developmental states.” They often struggle for control over major urban initiatives against their strong state government agencies as they seek prominence in the global city hierarchy. Through comparative review of approaches to national policy development, this paper traces the similarities of the two countries in approaching national economic development and how that influences their capital city’s capacity to manage growth and urbanization pressures. We focus on some major urban development initiatives in Tokyo and Seoul between 1970 and 2010 to test the notion whether global cities get “disembedded” from their state or national context as they integrate into the globalized economy. We contend that national and local societal developments continue to drive the cities’ growth patterns, albeit influenced by overall global forces, while the global cities and their nation states evolve ways to compete and collaborate in the pursuit of common interests.

Palabras clave

  • global city
  • developmental state
  • global projects

JEL Classification

  • O20
  • R0

Conceptual Paper

access type Acceso abierto

The productivity growth slowdown in advanced economies: causes and policy recommendations

Publicado en línea: 31 Dec 2019
Páginas: 391 - 406

Resumen

Abstract

The growth of total factor productivity (TFP) in advanced economies has slowed significantly after the 1970s. The global financial crisis (GFC) has resulted in the second productivity growth slowdown. This paper, on the basis of a broad literature review, identifies the structural forces and legacies of the financial crisis, explaining the productivity growth slowdown and providing possible policy solutions. The mismeasurement hypothesis is also discussed. The slowing pace of innovations, population aging, slowing human capital accumulation, limits of structural transformation, capital misallocation, and firm-level factors are identified as structural forces slowing TFP growth. Lack of capital deepening, financial frictions, and slowdown of international trade are the most important legacies of GFC affecting productivity growth.

Palabras clave

  • macroeconomics
  • productivity
  • TFP
  • productivity growth slowdown

JEL Classification

  • D24
  • E01
  • E24
  • O47
access type Acceso abierto

List of reviewers 2019

Publicado en línea: 31 Dec 2019
Páginas: 407 - 409

Resumen

Planifique su conferencia remota con Sciendo