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This study provides an analysis of the existing relationship between culture, entrepreneurship, and orientation towards innovation at the national level. Drawing on the creation of an Artificial Neural Network, and using a sample of 37 countries, this paper aims to catalogue each country as innovation-oriented or non-innovation-oriented considering the six cultural dimensions proposed by Hofstede’s model and the country´s entrepreneurial activity. The results achieved suggest that three of the cultural dimensions—long-term orientation, individualism, and indulgence—are positively associated with the consideration of a country as innovation-oriented, but one of them—uncertainty avoidance—is associated with the consideration of a country as non-innovation-oriented. On the other hand, while power distance and masculinity do not seem to be significant variables in this analysis, the entrepreneurial activity rate is associated with countries classified as non-innovation-oriented. This study aims to shed light on the relationships between cultural values, entrepreneurship, and orientation towards innovation, providing valuable information for stakeholders, mainly those belonging to private sector and governments, when designing strategies aimed at creating favourable environments for the development of a country’s technology, research, and innovation.
M. López-Cabarcos; Juan Piñeiro-Chousa; Lara Quiñoá-Piñeiro; Helena Santos-Rodrigues. How Can Cultural Values and Entrepreneurship Lead to the Consideration of Innovation-Oriented or Non-Innovation-Oriented Countries? Sustainability 2021, 13, 4257 .
AMA StyleM. López-Cabarcos, Juan Piñeiro-Chousa, Lara Quiñoá-Piñeiro, Helena Santos-Rodrigues. How Can Cultural Values and Entrepreneurship Lead to the Consideration of Innovation-Oriented or Non-Innovation-Oriented Countries? Sustainability. 2021; 13 (8):4257.
Chicago/Turabian StyleM. López-Cabarcos; Juan Piñeiro-Chousa; Lara Quiñoá-Piñeiro; Helena Santos-Rodrigues. 2021. "How Can Cultural Values and Entrepreneurship Lead to the Consideration of Innovation-Oriented or Non-Innovation-Oriented Countries?" Sustainability 13, no. 8: 4257.
Technology, blockchain, and initial coin offerings (ICOs) have changed the established ways of financing companies and doing business. The changes that affect organizational communications, specifically marketing communications, remain unclear, especially in the context of business-to-business (B2B) organizations. The current trend is for B2B companies to view social media as an optimal way to enhance lasting and valuable relationships with other companies. There is little research on social media marketing strategies by B2B organizations. To fill this gap, this study uses a sample of 57 B2B ICOs completed by December 2019 and qualitative comparative analysis to examine how the combined effect of four conditions related to B2B ICOs (percentage of tokens distributed, amount of funding raised, minimum investment required, and ICO price) and two conditions related to the promoter’s country (institutional efficiency and tax haven status) lead to a low Alexa Rank. While the percentage of tokens distributed and the amount of funds raised play a key role in achieving a low Alexa Rank, the minimum investment required seems to play a secondary role. Moreover, the importance of the characteristics of the B2B ICO promoter’s country depends on both the presence and the value of the conditions related to financial characteristics.
Juan Piñeiro-Chousa; M. Ángeles López-Cabarcos; Domingo Ribeiro-Soriano. The influence of financial features and country characteristics on B2B ICOs’ website traffic. International Journal of Information Management 2021, 59, 102332 .
AMA StyleJuan Piñeiro-Chousa, M. Ángeles López-Cabarcos, Domingo Ribeiro-Soriano. The influence of financial features and country characteristics on B2B ICOs’ website traffic. International Journal of Information Management. 2021; 59 ():102332.
Chicago/Turabian StyleJuan Piñeiro-Chousa; M. Ángeles López-Cabarcos; Domingo Ribeiro-Soriano. 2021. "The influence of financial features and country characteristics on B2B ICOs’ website traffic." International Journal of Information Management 59, no. : 102332.
Tourism entrepreneurship has not received sufficient attention in the context of protected areas (PAs). It needs careful management to avoid conflicts with conservation objectives and positively contribute to regional development. Traditional management approaches based on the strict application of the carrying capacity principle are suboptimal. An adaptive management framework has been demanded, but it has been scarcely adopted in practice or explored in previous research. Moreover, appropriate decision-making tools are lacking. This study proposes a combination of cost-benefit analysis (CBA) and real options analysis (ROA) to support the sustainable tourism entrepreneurship development in PAs under an adaptive management framework. Costs are related to the conservation and restoration activities, and benefits to the use and non-use value placed by visitors on it, measured through visitors’ willingness to pay (WTP) for sustainable tourism. The proposed model also embraces uncertainty and flexibility, considering visitors’ WTP and tourism demand as the primary sources of uncertainty. Through the analysis of the sustainable tourism management of Ons Island, part of the Marine-Terrestrial National Park of the Atlantic Islands of Galicia, we exemplify the power of a combined CBA-ROA approach and derive implications for policymakers, PA managers, tourism entrepreneurs, and researchers.
Juan Piñeiro-Chousa; M.á. López-Cabarcos; N. Romero-Castro; P. Vázquez-Rodríguez. Sustainable tourism entrepreneurship in protected areas. A real options assessment of alternative management options. Entrepreneurship & Regional Development 2021, 33, 249 -272.
AMA StyleJuan Piñeiro-Chousa, M.á. López-Cabarcos, N. Romero-Castro, P. Vázquez-Rodríguez. Sustainable tourism entrepreneurship in protected areas. A real options assessment of alternative management options. Entrepreneurship & Regional Development. 2021; 33 (3-4):249-272.
Chicago/Turabian StyleJuan Piñeiro-Chousa; M.á. López-Cabarcos; N. Romero-Castro; P. Vázquez-Rodríguez. 2021. "Sustainable tourism entrepreneurship in protected areas. A real options assessment of alternative management options." Entrepreneurship & Regional Development 33, no. 3-4: 249-272.
This short note introduces the Industrial Marketing Management special issue entitled “Innovative strategic relationships among sustainable start-ups”. After reviewing the key concepts and recent studies on the interrelationships between sustainability, innovation, and entrepreneurship, the seven papers that make up the special issue are placed within a macro-meso-micro framework to analyze how innovation can contribute to the transition toward sustainability. The methodological approaches and results of these seven studies are briefly summarized and their main implications highlighted. To conclude, paths for future research are suggested. These paths provide opportunities to advance the analysis of how sustainable start-ups at the micro level can bring about systemic changes at the meso and macro levels through the management of innovative strategic relationships.
Domingo Ribeiro-Soriano; Juan Piñeiro-Chousa. Innovative strategic relationships among sustainable start-ups. Industrial Marketing Management 2021, 94, 106 -114.
AMA StyleDomingo Ribeiro-Soriano, Juan Piñeiro-Chousa. Innovative strategic relationships among sustainable start-ups. Industrial Marketing Management. 2021; 94 ():106-114.
Chicago/Turabian StyleDomingo Ribeiro-Soriano; Juan Piñeiro-Chousa. 2021. "Innovative strategic relationships among sustainable start-ups." Industrial Marketing Management 94, no. : 106-114.
M. Ángeles López-Cabarcos; Juan Piñeiro-Chousa; Lara Quiñoá-Piñeiro. An approach to a country's innovation considering cultural, economic, and social conditions. Economic Research-Ekonomska Istraživanja 2020, 34, 2747 -2766.
AMA StyleM. Ángeles López-Cabarcos, Juan Piñeiro-Chousa, Lara Quiñoá-Piñeiro. An approach to a country's innovation considering cultural, economic, and social conditions. Economic Research-Ekonomska Istraživanja. 2020; 34 (1):2747-2766.
Chicago/Turabian StyleM. Ángeles López-Cabarcos; Juan Piñeiro-Chousa; Lara Quiñoá-Piñeiro. 2020. "An approach to a country's innovation considering cultural, economic, and social conditions." Economic Research-Ekonomska Istraživanja 34, no. 1: 2747-2766.
The COVID-19 pandemic has led to an unprecedented situation, with incalculable health, social, and economic consequences. At the start of the outbreak, the financial markets collapsed, although not all sectors suffered equally. The gaming and eSports industry is one of those that has suffered the least from the fall in the markets. Millions of people locked up at home, bored, stressed, and anguished, gave gaming and eSports companies growing prominence throughout the first half of 2020. This prominence has elicited interest in analyzing which variables can influence the returns in an industry in better financial health than many others. Using a logit–probit model, this research aims to analyze the relationship between financial (VIX, S&P GSCI Gold Index) and social (worldwide daily variation in total deaths from COVID-19 and worldwide Google attention on coronavirus) variables and the returns offered by the video game and eSports exchange traded fund (ESPO). The results show that the influence of social variables is weaker than the influence of financial variables. There is a significant inverse relationship between market volatility and ESPO returns and a highly significant relationship between ESPO returns and gold returns. While the relationship of ESPO returns with worldwide Google attention on coronavirus is significant, the relationship with worldwide daily variation in total deaths from COVID-19 is not. The conclusions of the study are discussed at the end of the paper.
M. Ángeles López-Cabarcos; Domingo Ribeiro-Soriano; Juan Piñeiro-Chousa. All that glitters is not gold. The rise of gaming in the COVID-19 pandemic. Journal of Innovation & Knowledge 2020, 5, 289 -296.
AMA StyleM. Ángeles López-Cabarcos, Domingo Ribeiro-Soriano, Juan Piñeiro-Chousa. All that glitters is not gold. The rise of gaming in the COVID-19 pandemic. Journal of Innovation & Knowledge. 2020; 5 (4):289-296.
Chicago/Turabian StyleM. Ángeles López-Cabarcos; Domingo Ribeiro-Soriano; Juan Piñeiro-Chousa. 2020. "All that glitters is not gold. The rise of gaming in the COVID-19 pandemic." Journal of Innovation & Knowledge 5, no. 4: 289-296.
Stock market price prediction has improved due to social network activity since social networks can provide useful information, for example, on message sentiment. Few studies have analysed the influence of social networks on the bond market, and even fewer have specifically analysed the influence on the green bond market. By financing environmental projects that promote sustainability, green bonds are becoming increasingly important because of their relationship with major issues, such as climate change and water management. In addition, increases in people's environmental awareness have led companies to enact corporate social responsibility policies and environmentally sustainable projects. This context supports the relevance of this research because although there have been previous studies on green bonds, there is a scarcity of manuscripts that relate green bonds with social media and, more specifically, with investors’ sentiments. Therefore, using panel data analysis, the aim of this study is to analyze how the investor sentiment extracted from social networks influences the green bond market. The results of this manuscript should lead investors and markets to consider social networks as relevant sources of information not only for the equity market but also for the bond market, specifically the green bond market.
Juan Piñeiro-Chousa; M.ángeles López-Cabarcos; Jérôme Caby; Aleksandar Šević. The influence of investor sentiment on the green bond market. Technological Forecasting and Social Change 2020, 162, 120351 .
AMA StyleJuan Piñeiro-Chousa, M.ángeles López-Cabarcos, Jérôme Caby, Aleksandar Šević. The influence of investor sentiment on the green bond market. Technological Forecasting and Social Change. 2020; 162 ():120351.
Chicago/Turabian StyleJuan Piñeiro-Chousa; M.ángeles López-Cabarcos; Jérôme Caby; Aleksandar Šević. 2020. "The influence of investor sentiment on the green bond market." Technological Forecasting and Social Change 162, no. : 120351.
The potential impacts of climate change and population growth are having serious effects on the energy and agricultural industries, which might compromise water availability. Water scarcity requires the global water industry to examine the rapidly changing market and, together with public initiatives, make innovative investments to guarantee better water management models. Therefore, from an investor's perspective, it is important to understand what might influence water companies’ stock returns. This paper analyzes how the energy and agriculture industries and the growing environmental awareness of investors influence water companies’ stock returns. Panel data on the monthly stock returns of companies in the S&P Global Water Index from June 2008 to January 2019 are used. The environmental awareness of investors is measured in terms of their attention to Internet activity. The results show that agricultural price trends positively influence water companies’ stock returns, while energy price trends negatively influence them. The results also show that investor attention has a negative relationship with water companies’ stock returns. The severity of the situation surrounding water management seems to have significantly increased people's attention to water saving and environmental awareness, leading people to behave more responsibly.
Juan Piñeiro-Chousa; M.ángeles López-Cabarcos; Domingo Ribeiro-Soriano. Does investor attention influence water companies’ stock returns? Technological Forecasting and Social Change 2020, 158, 120115 .
AMA StyleJuan Piñeiro-Chousa, M.ángeles López-Cabarcos, Domingo Ribeiro-Soriano. Does investor attention influence water companies’ stock returns? Technological Forecasting and Social Change. 2020; 158 ():120115.
Chicago/Turabian StyleJuan Piñeiro-Chousa; M.ángeles López-Cabarcos; Domingo Ribeiro-Soriano. 2020. "Does investor attention influence water companies’ stock returns?" Technological Forecasting and Social Change 158, no. : 120115.
In recent years, initial coin offerings (ICOs) have received considerable attention as a new form of crowdfunding. Because of the rapid growth in their popularity, ICOs have become a prominent research topic. However, the lack of knowledge about the nature of this kind of financial operation inevitably raises several important unanswered questions. This study starts by providing a comprehensive description of the characteristics, benefits, and risks associated with ICOs. Then, using a panel data set comprising daily information for 125 ICOs (44,217 observations gathered from December 2017 to December 2018), this study explores the influence of the ICO presale period, ICO category, Bitcoin spot returns, Bitcoin futures returns, and sentiment extracted from social media on ICO returns. The results suggest that while Bitcoin spot and Bitcoin futures returns exert a positive influence on ICO returns, the existence of a presale period exerts a negative influence, and ICO category seems to be non-significant. Sentiment extracted from social networks positively influences ICO returns. Further conclusions of this study are presented in the last section.
Ribeiro-Soriano Domingo; Juan Piñeiro-Chousa; M. Ángeles López-Cabarcos. What factors drive returns on initial coin offerings? Technological Forecasting and Social Change 2020, 153, 119915 .
AMA StyleRibeiro-Soriano Domingo, Juan Piñeiro-Chousa, M. Ángeles López-Cabarcos. What factors drive returns on initial coin offerings? Technological Forecasting and Social Change. 2020; 153 ():119915.
Chicago/Turabian StyleRibeiro-Soriano Domingo; Juan Piñeiro-Chousa; M. Ángeles López-Cabarcos. 2020. "What factors drive returns on initial coin offerings?" Technological Forecasting and Social Change 153, no. : 119915.
Bitcoin is the cryptocurrency with the largest market capitalization, and many studies have examined its role in financial markets. In this manuscript, we contribute to the extant body of knowledge by analyzing the Bitcoin behavior and the effect that investor sentiment, S&P 500 returns, and VIX returns have on Bitcoin volatility using GARCH and EGARCH models. The results suggest that Bitcoin volatility is more unstable in speculative periods. In stable periods, S&P 500 returns, VIX returns, and sentiment influence Bitcoin volatility.
M. Ángeles López-Cabarcos; Ada M. Pérez-Pico; Juan Piñeiro-Chousa; Aleksandar Šević. Bitcoin volatility, stock market and investor sentiment. Are they connected? Finance Research Letters 2019, 38, 101399 .
AMA StyleM. Ángeles López-Cabarcos, Ada M. Pérez-Pico, Juan Piñeiro-Chousa, Aleksandar Šević. Bitcoin volatility, stock market and investor sentiment. Are they connected? Finance Research Letters. 2019; 38 ():101399.
Chicago/Turabian StyleM. Ángeles López-Cabarcos; Ada M. Pérez-Pico; Juan Piñeiro-Chousa; Aleksandar Šević. 2019. "Bitcoin volatility, stock market and investor sentiment. Are they connected?" Finance Research Letters 38, no. : 101399.
Innovation, entrepreneurship and knowledge have been acknowledged as the basis of economic competiveness and growth, with recent research pointing out the powerful impact of their joint consideration. Specific literature has emerged in the last years suggesting that the three concepts constitute a promising new scholarly discipline. Nevertheless, previous bibliometric studies have highlighted that these three research fields are still mainly developing in a separate manner. The aim of this study is to analyze the current research front at the intersection of the three concepts in business research, through a bibliometric study based on performance metrics, bibliographic coupling and word co-occurrence analysis. This study aims to provide researchers, firms, and policy-makers with a valuable source of knowledge that allows them to define research lines, business strategies and policy measures. Innovation, entrepreneurship and knowledge studies in the business area configure a promising research field at an early stage of development.
Juan Piñeiro-Chousa; M. Ángeles López-Cabarcos; Noelia María Romero-Castro; Ada María Pérez-Pico. Innovation, entrepreneurship and knowledge in the business scientific field: Mapping the research front. Journal of Business Research 2019, 115, 475 -485.
AMA StyleJuan Piñeiro-Chousa, M. Ángeles López-Cabarcos, Noelia María Romero-Castro, Ada María Pérez-Pico. Innovation, entrepreneurship and knowledge in the business scientific field: Mapping the research front. Journal of Business Research. 2019; 115 ():475-485.
Chicago/Turabian StyleJuan Piñeiro-Chousa; M. Ángeles López-Cabarcos; Noelia María Romero-Castro; Ada María Pérez-Pico. 2019. "Innovation, entrepreneurship and knowledge in the business scientific field: Mapping the research front." Journal of Business Research 115, no. : 475-485.
Social exchange theory (SET) constitutes the main theoretical framework for research on organizational citizenship behavior (OCB), its antecedents (interactional justice and affective commitment), and the circumstances that may exacerbate or weaken these relationships. In the context of the public system and using Structural Equation Modeling (SEM), this study analyzes whether bullying at work weakens the relationship between interactional justice and OCB, considering the mediating role of affective commitment. The results show that bullying at work weakens the relationship between interactional justice and affective commitment, but the results do not support the moderating role of bullying at work in the relationship between interactional justice and OCB. This article contributes to advancing knowledge of a complex phenomenon such as OCB, by analyzing how its main antecedents behave in the event of bullying at work.
M. Ángeles López-Cabarcos; Paula Vázquez-Rodríguez; Juan Piñeiro-Chousa; Jérôme Caby. The role of bullying in the development of organizational citizenship behaviors. Journal of Business Research 2019, 115, 272 -280.
AMA StyleM. Ángeles López-Cabarcos, Paula Vázquez-Rodríguez, Juan Piñeiro-Chousa, Jérôme Caby. The role of bullying in the development of organizational citizenship behaviors. Journal of Business Research. 2019; 115 ():272-280.
Chicago/Turabian StyleM. Ángeles López-Cabarcos; Paula Vázquez-Rodríguez; Juan Piñeiro-Chousa; Jérôme Caby. 2019. "The role of bullying in the development of organizational citizenship behaviors." Journal of Business Research 115, no. : 272-280.
This paper presents sector-level analysis of voting decisions in corporate meetings. Non-negative matrix factorization (NNMF) algorithms are applied to detect disruptive events in the technology sector. The sample consists of 255 NASDAQ technology firms. The annual data used in this study capture votes on managerial proposals for the election and compensation of directors over the period 2003 to 2017. Voting decisions reflect two major disruptive events during that period: the financial crisis and the Facebook initial public offering. These two disruptive events are observed to substantially change the underlying trends behind voting decisions in the technology sector. Implications for researchers and practitioners are discussed.
Juan Pineiro-Chousa; Marcos Vizcaíno-González; Belén Ribeiro-Navarrete. Assessing the effects of disruptive events on technology firms using non-negative matrix factorization. International Review of Economics & Finance 2019, 62, 79 -86.
AMA StyleJuan Pineiro-Chousa, Marcos Vizcaíno-González, Belén Ribeiro-Navarrete. Assessing the effects of disruptive events on technology firms using non-negative matrix factorization. International Review of Economics & Finance. 2019; 62 ():79-86.
Chicago/Turabian StyleJuan Pineiro-Chousa; Marcos Vizcaíno-González; Belén Ribeiro-Navarrete. 2019. "Assessing the effects of disruptive events on technology firms using non-negative matrix factorization." International Review of Economics & Finance 62, no. : 79-86.
Socially responsible investment (SRI) indices provide an interesting opportunity to analyse the links between corporate financial performance (CFP) and corporate sustainability performance (CSP). However, few studies focus on the antecedents of inclusions in and exclusions from SRI indices. Specifically, the implications of corporate sustainability disclosure (CSD) have been largely ignored in this field. Furthermore, previous literature on the CSP-CSD-CFP links shows inconclusive results that have been attributed to both methodological and measurement problems, which suggest the existence of asymmetry, equifinality and complexity amongst these links. This study targets two under-researched areas regarding the determinants of changes in the composition of SRI indices, and the effects of CSD on CSP. This study also attempts to overcome the methodological and measurement limitations of previous studies on the CFP-CSD-CSP links. The study presents a fuzzy-set qualitative comparative analysis (fsQCA) to explore how different combinations of CFP and CSD indicators are related to inclusions in an SRI index (assumed as expressions of a good CSP), and exclusions from an SRI index (equivalent to a poor CSP). The empirical results reveal that a combination of different CSD indicators is necessary, but not sufficient, to lead to the inclusion in or exclusion from an SRI index, and that CFP measures have asymmetrical effects on CSP. CSD is a relevant antecedent or precondition of CSP that can motivate changes in corporate behaviours towards an improved CSP. Poor CSP, leading to an exclusion from the index, is associated with poor CSD and a deterioration of CFP. The implications for researchers, business managers, SRI rating agencies and policymakers are derived.
Juan Pineiro-Chousa; Noelia Romero-Castro; Marcos Vizcaíno-González. Inclusions in and Exclusions from the S&P 500 Environmental and Socially Responsible Index: A Fuzzy-Set Qualitative Comparative Analysis. Sustainability 2019, 11, 1211 .
AMA StyleJuan Pineiro-Chousa, Noelia Romero-Castro, Marcos Vizcaíno-González. Inclusions in and Exclusions from the S&P 500 Environmental and Socially Responsible Index: A Fuzzy-Set Qualitative Comparative Analysis. Sustainability. 2019; 11 (4):1211.
Chicago/Turabian StyleJuan Pineiro-Chousa; Noelia Romero-Castro; Marcos Vizcaíno-González. 2019. "Inclusions in and Exclusions from the S&P 500 Environmental and Socially Responsible Index: A Fuzzy-Set Qualitative Comparative Analysis." Sustainability 11, no. 4: 1211.
This study explores the influence of a country's financial development on the adherence of its companies to standardized reporting by comparing developed, emerging, and frontier markets. The results show that only high-income developed or emerging markets present a high number of companies committed to standardized reporting, although the conditions that lead to that outcome differ. Thus, a high level of institutional depth is the only necessary condition for developed markets, whereas for emerging markets, the results are more diverse and demanding. Both institutional depth and institutional efficiency could work, but two outstanding indicators of financial development are necessary. Therefore, emerging markets need stronger institutional support to deal with more areas of financial development; however, they also have multiple chances to achieve the outcome.
Juan Piñeiro-Chousa; Marcos Vizcaíno-González; Jérôme Caby. Financial development and standardized reporting: A comparison among developed, emerging, and frontier markets. Journal of Business Research 2018, 101, 797 -802.
AMA StyleJuan Piñeiro-Chousa, Marcos Vizcaíno-González, Jérôme Caby. Financial development and standardized reporting: A comparison among developed, emerging, and frontier markets. Journal of Business Research. 2018; 101 ():797-802.
Chicago/Turabian StyleJuan Piñeiro-Chousa; Marcos Vizcaíno-González; Jérôme Caby. 2018. "Financial development and standardized reporting: A comparison among developed, emerging, and frontier markets." Journal of Business Research 101, no. : 797-802.
This paper assesses the effects of industry shocks on shareholder votes in the financial services industry. We analyze votes on managers’ proposals for executive compensation and the election of directors in NASDAQ financial companies from 2003 to 2017. Our analyses imply that shareholders’ reactions to major industry shocks are reflected in shareholder voting decisions. We report evidence of significant changes in the fundamental drivers of those decisions for four recent industry shocks: the onset of the financial crisis in 2007, the subsequent stimulus decisions by G20 countries, the European sovereign debt crisis, and the emerging markets crisis. These findings can help managers understand what drives shareholder satisfaction in the uncertain environments that follow industry shocks. This insight can help managers design successful strategies to cope with the effects of such shocks.
Juan Pineiro-Chousa; Marcos Vizcaíno-González; Samuel Ribeiro-Navarrete. Using voting decisions to identify shocks in the financial services industry. Service Business 2018, 13, 419 -431.
AMA StyleJuan Pineiro-Chousa, Marcos Vizcaíno-González, Samuel Ribeiro-Navarrete. Using voting decisions to identify shocks in the financial services industry. Service Business. 2018; 13 (2):419-431.
Chicago/Turabian StyleJuan Pineiro-Chousa; Marcos Vizcaíno-González; Samuel Ribeiro-Navarrete. 2018. "Using voting decisions to identify shocks in the financial services industry." Service Business 13, no. 2: 419-431.
This study explored the relationship between investor sentiment (extracted from the StockTwits social network), the S&P 500 Index and gold returns. We investigated bilateral causality between gold prices and S&P 500 prices, the power of investor sentiment and gold returns to predict S&P 500 returns, and the influence of gold returns on S&P 500 volatility. We also considered whether the influence of sentiment varies according to the user's degree of experience. We considered the sentiment of messages that mentioned the S&P 500 Index and that users posted between 2012 and 2016. Granger causality analysis, ARIMA models and GARCH models were used for predicting S&P 500 Index returns and S&P 500 volatility. We observed a causal relationship between gold price and the S&P 500 Index. Our results also suggest that sentiment and gold returns predict S&P 500 Index returns. Finally, we observed that gold returns influence S&P 500 volatility and that the sentiment of experienced users affects S&P 500 returns.
Juan Piñeiro-Chousa; M. Ángeles López-Cabarcos; Ada María Pérez-Pico; Belén Ribeiro-Navarrete. Does social network sentiment influence the relationship between the S&P 500 and gold returns? International Review of Financial Analysis 2018, 57, 57 -64.
AMA StyleJuan Piñeiro-Chousa, M. Ángeles López-Cabarcos, Ada María Pérez-Pico, Belén Ribeiro-Navarrete. Does social network sentiment influence the relationship between the S&P 500 and gold returns? International Review of Financial Analysis. 2018; 57 ():57-64.
Chicago/Turabian StyleJuan Piñeiro-Chousa; M. Ángeles López-Cabarcos; Ada María Pérez-Pico; Belén Ribeiro-Navarrete. 2018. "Does social network sentiment influence the relationship between the S&P 500 and gold returns?" International Review of Financial Analysis 57, no. : 57-64.
Reputation is a complex and multidimensional concept that may be organized in downside and upside reputational risk. In this article, we present a formal modelling for the management capabilities of environmental management and reporting over reputational risk, considering that reputational risk is becoming increasingly important for organizations and it directly depends on the information available about companies’ environmental performances. As long as the effectiveness of communication and disclosure plays a key role in the process, the usefulness of environmental management and reporting as a hedging instrument for reputational risk is addressed through different levels of information transparency. When considering a scenario of voluntary reporting, we show that environmentally concerned companies can reduce the cost of environmental management as a reputational risk strategy, as well as reducing the potential loss of reputational value from reputational threats and increasing the potential profit from reputational opportunities. In the context of mandatory reporting, we highlight the role of assurance companies as bearers of the risk of bad reputations for non-concerned companies. As a result, this novel approach applies theoretical oriented research from options theory to reputational risk management literature, so that it benefits from the option’s well known theory, robustness, and conclusions.
Juan Pineiro-Chousa; Marcos Vizcaíno-González; María Ángeles López-Cabarcos; Noelia Romero-Castro. Managing Reputational Risk through Environmental Management and Reporting: An Options Theory Approach. Sustainability 2017, 9, 376 .
AMA StyleJuan Pineiro-Chousa, Marcos Vizcaíno-González, María Ángeles López-Cabarcos, Noelia Romero-Castro. Managing Reputational Risk through Environmental Management and Reporting: An Options Theory Approach. Sustainability. 2017; 9 (3):376.
Chicago/Turabian StyleJuan Pineiro-Chousa; Marcos Vizcaíno-González; María Ángeles López-Cabarcos; Noelia Romero-Castro. 2017. "Managing Reputational Risk through Environmental Management and Reporting: An Options Theory Approach." Sustainability 9, no. 3: 376.
This research uses an instrumental variables approach to investigate the determinants of the proportion of countries with mandatory reporting by geographical area. The sample contains 62 countries grouped in 11 geographical areas. The results show that the proportion of countries with mandatory reporting depends negatively on the number of republican countries, and depends positively on the proportion of parliamentary countries, the presence of emerging markets, and the existence of pioneering countries in the field of non-financial reporting. Consequently, the presence of emerging markets in a certain geographical area appears as a key explanatory factor related to the adoption of a mandatory approach regarding reporting on non-financial information.
Juan Pineiro Chousa; Marcos Vizcaíno-González. Determinants of mandatory reporting: the influence of emerging markets. International Journal of Business and Emerging Markets 2017, 9, 33 .
AMA StyleJuan Pineiro Chousa, Marcos Vizcaíno-González. Determinants of mandatory reporting: the influence of emerging markets. International Journal of Business and Emerging Markets. 2017; 9 (1):33.
Chicago/Turabian StyleJuan Pineiro Chousa; Marcos Vizcaíno-González. 2017. "Determinants of mandatory reporting: the influence of emerging markets." International Journal of Business and Emerging Markets 9, no. 1: 33.
This research analyzes investors’ activity through social media and these media's influence over the Chicago Board Options Exchange Market Volatility Index (VIX) using a logit model and a fuzzy‐set qualitative comparative analysis (fsQCA). The logit results show that social media sentiment influences stock markets. Meanwhile, the fsQCA results show that the investors’ profile is important for explaining how social media influence the stock market. Particularly, holding period combined with experience in technical investors contributes to avoiding a raise in market risk, whereas for nontechnical investors message sentiment and experience form the combination that contributes to avoid a raise in market risk.
Juan Piñeiro‐Chousa; Marcos Vizcaíno-González; Ada María Pérez-Pico. Influence of Social Media over the Stock Market. Psychology & Marketing 2016, 34, 101 -108.
AMA StyleJuan Piñeiro‐Chousa, Marcos Vizcaíno-González, Ada María Pérez-Pico. Influence of Social Media over the Stock Market. Psychology & Marketing. 2016; 34 (1):101-108.
Chicago/Turabian StyleJuan Piñeiro‐Chousa; Marcos Vizcaíno-González; Ada María Pérez-Pico. 2016. "Influence of Social Media over the Stock Market." Psychology & Marketing 34, no. 1: 101-108.