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Prof. Dr. Luis Ángel Guerras Martín
Department of Business Economics (ADO), Applied Economics and Fundamentals of Economic Analysis, Rey Juan Carlos University, 28933 Móstoles, Madrid, Spain

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Journal article
Published: 03 December 2020 in Sustainability
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This paper explores the relationship between one of the major aspects of the internal mechanism of corporate governance, i.e., the board of directors, and the corporate strategy of cooperation. The study was designed to investigate whether certain board of director characteristics have an influence on the propensity to cooperate in Spanish listed non-financial firms. Our findings reveal that the propensity to cooperate in Spanish firms is driven more by a tight “management effect” whereby the highest probability of occurrence is related to firms with duality on their boards and a lower proportion of nominee directors representing controlling shareholders. This paper adds evidence to the corporate governance-corporate strategy (alliance propensity) discussion in a continental country such as Spain.

ACS Style

Maria Medina-Salgado; María Sacristán-Navarro; Luis Guerras-Martín. Do Boards of Directors Really Matter in the Cooperation Behavior of Firms? An Exploratory Analysis in Spain. Sustainability 2020, 12, 10114 .

AMA Style

Maria Medina-Salgado, María Sacristán-Navarro, Luis Guerras-Martín. Do Boards of Directors Really Matter in the Cooperation Behavior of Firms? An Exploratory Analysis in Spain. Sustainability. 2020; 12 (23):10114.

Chicago/Turabian Style

Maria Medina-Salgado; María Sacristán-Navarro; Luis Guerras-Martín. 2020. "Do Boards of Directors Really Matter in the Cooperation Behavior of Firms? An Exploratory Analysis in Spain." Sustainability 12, no. 23: 10114.

Journal article
Published: 13 April 2020 in Journal of Business Research
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This paper is an initial attempt to use a bibliometric approach for an exhaustive literature review of corporate diversification in order to propose a new comprehensive framework for its study. We conduct an in-depth analysis of the historical evolution of research over the period 1970–2017 in six eight-year stages, shedding light on the main issues in each stage and the links among them using a sample of 1,253 articles. Attention is also paid to the three disciplines in this research stream: Strategic Management, Economics, and Finance. Our analysis reveals how the research on corporate diversification has extended the range of topics addressed and added new theoretical approaches and methodological tools, thereby ensuring greater maturity in its development. Emergent and prevailing research streams are identified, as they are expected to play a key role in the near future. We conclude by recognizing the need for an integrated theory on corporate diversification.

ACS Style

Luis Ángel Guerras-Martín; Guillermo Armando Ronda-Pupo; José Ángel Zúñiga-Vicente; Diana Benito-Osorio. Half a century of research on corporate diversification: A new comprehensive framework. Journal of Business Research 2020, 114, 124 -141.

AMA Style

Luis Ángel Guerras-Martín, Guillermo Armando Ronda-Pupo, José Ángel Zúñiga-Vicente, Diana Benito-Osorio. Half a century of research on corporate diversification: A new comprehensive framework. Journal of Business Research. 2020; 114 ():124-141.

Chicago/Turabian Style

Luis Ángel Guerras-Martín; Guillermo Armando Ronda-Pupo; José Ángel Zúñiga-Vicente; Diana Benito-Osorio. 2020. "Half a century of research on corporate diversification: A new comprehensive framework." Journal of Business Research 114, no. : 124-141.

Journal article
Published: 29 February 2020 in Journal of Business Research
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This study analyses the effect that the institutional environment for corporate governance and the economic cycle have on the relationship between the business portfolio restructuring (BPR) strategy and corporate performance. For this purpose, we use institutional theory, incorporating the notion of organizational slack to highlight the differences in firm performance between institutional settings along the different phases of economic cycle. We found that market-oriented corporate governance systems generate, during a period of economic growth, a smaller positive effect of each particular BPR movement on company performance, compared to network-oriented systems. Additionally, market-oriented corporate governance systems contribute to counteract part of the negative effect of the economic crisis. In contrast, network-oriented corporate governance systems are not able to avoid the potentially negative effect of an economic crisis on this relationship, amplifying the negative effect of the economic crisis on performance. We use data from 15 European countries for the period 1998–2015.

ACS Style

Francisco Javier Forcadell; Angelica Sanchez-Riofrio; Luis Ángel Guerras-Martín; Desiderio Romero-Jordán. Is the restructuring-performance relationship moderated by the economic cycle and the institutional environment for corporate governance? Journal of Business Research 2020, 110, 397 -407.

AMA Style

Francisco Javier Forcadell, Angelica Sanchez-Riofrio, Luis Ángel Guerras-Martín, Desiderio Romero-Jordán. Is the restructuring-performance relationship moderated by the economic cycle and the institutional environment for corporate governance? Journal of Business Research. 2020; 110 ():397-407.

Chicago/Turabian Style

Francisco Javier Forcadell; Angelica Sanchez-Riofrio; Luis Ángel Guerras-Martín; Desiderio Romero-Jordán. 2020. "Is the restructuring-performance relationship moderated by the economic cycle and the institutional environment for corporate governance?" Journal of Business Research 110, no. : 397-407.

Journal article
Published: 24 July 2019 in Journal of International Management
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This study examines the individual effects of product diversification on performance and the moderating effects of international diversification on the product diversification–performance link in the context of a boom and bust cycle. Most prior research on firm strategies largely neglect the business cycle. We use data on a large sample of Spanish manufacturing firms from 1994 to 2014. In this period, the Spanish economy experienced a boom period (1994–2008) and a bust period involving a severe economic crisis (2009–2014). Our study highlights the important role of each stage of the economic cycle. Specifically, with respect to product diversification, our findings show that in a boom, moderate diversifiers obtain better profitability levels than their highly diverse or limited diversification counterparts do. In contrast, during an economic downturn, moderate and high diversifiers can be equally effective up to some point of optimization. Our findings also reveal a negative and significant effect of internationalization on profitability, independent of the stage of the economic cycle. Product and international diversification are complementary strategies during a period of economic growth when firms opt for moderate levels of product diversification. Meanwhile, when firms choose high levels of product diversification, both types of strategies are complementary during the boom cycle, but substitutive during the bust cycle.

ACS Style

José Ángel Zúñiga-Vicente; Diana Benito-Osorio; Luis Ángel Guerras-Martín; Alberto Colino. The effects of international diversification on the link between product diversification and performance in a boom and bust cycle: Evidence from Spanish firms (1994–2014). Journal of International Management 2019, 25, 100687 .

AMA Style

José Ángel Zúñiga-Vicente, Diana Benito-Osorio, Luis Ángel Guerras-Martín, Alberto Colino. The effects of international diversification on the link between product diversification and performance in a boom and bust cycle: Evidence from Spanish firms (1994–2014). Journal of International Management. 2019; 25 (4):100687.

Chicago/Turabian Style

José Ángel Zúñiga-Vicente; Diana Benito-Osorio; Luis Ángel Guerras-Martín; Alberto Colino. 2019. "The effects of international diversification on the link between product diversification and performance in a boom and bust cycle: Evidence from Spanish firms (1994–2014)." Journal of International Management 25, no. 4: 100687.

Conference paper
Published: 01 August 2018 in Academy of Management Proceedings
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This study analyses the effect of the institutional environment and the business cycle on the relationship between Business Portfolio Restructuring (BPR) strategy and corporate performance. A sample of European firms for the period 2000-2011 has been examined. It is found that BPR has generally a positive influence on firm performance within the European context. However, in continental European countries, characterized by a network- orientated corporate governance system, a contractionary economic phase of the business cycle moderates negatively the relationship BPR-performance. Conversely, in Anglo-Saxon countries characterized by a market-orientated corporate governance system, an economic recession does not affect the BPR-performance relationship. A few causes are explored stemming from the concept of organizational slack on the relative degrees of efficiency of their corporate markets. It seems that the market for corporate control in Anglo-Saxon countries is much more effective as it comes to discipline managers to seek for the maximization of shareholders’ profit.

ACS Style

Angélica María Sánchez-Riofrío; Francisco Javier Forcadell; Desiderio Romero-Jordán; Luis Angel Guerras-MartIn. Restructuring and Performance in Europe:The effect of Institutional Environment and Business Cycle. Academy of Management Proceedings 2018, 2018, 1 .

AMA Style

Angélica María Sánchez-Riofrío, Francisco Javier Forcadell, Desiderio Romero-Jordán, Luis Angel Guerras-MartIn. Restructuring and Performance in Europe:The effect of Institutional Environment and Business Cycle. Academy of Management Proceedings. 2018; 2018 (1):1.

Chicago/Turabian Style

Angélica María Sánchez-Riofrío; Francisco Javier Forcadell; Desiderio Romero-Jordán; Luis Angel Guerras-MartIn. 2018. "Restructuring and Performance in Europe:The effect of Institutional Environment and Business Cycle." Academy of Management Proceedings 2018, no. 1: 1.

Book chapter
Published: 01 May 2018 in The Palgrave Encyclopedia of Strategic Management
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The article refers to the Strategic Management Journal as an academic publication specialized in the discipline of strategic management. It provides a description of its birth and evolution, mission and scope, and the editors responsible for its development over time. Moreover, the article analyses some key aspects of the journal such as its main statistical data, the role in the development of the discipline, its importance and impact in the context of the broader field of management, and its growing international profile as it became a global publication. Finally, the article describes the history of the SMJ Best Paper Prize in recognition of the most outstanding papers published in the journal.

ACS Style

Luis Angel Guerras-MartIn; Guillermo Armando Ronda-Pupo. Strategic Management Journal. The Palgrave Encyclopedia of Strategic Management 2018, 1626 -1630.

AMA Style

Luis Angel Guerras-MartIn, Guillermo Armando Ronda-Pupo. Strategic Management Journal. The Palgrave Encyclopedia of Strategic Management. 2018; ():1626-1630.

Chicago/Turabian Style

Luis Angel Guerras-MartIn; Guillermo Armando Ronda-Pupo. 2018. "Strategic Management Journal." The Palgrave Encyclopedia of Strategic Management , no. : 1626-1630.

Journal article
Published: 17 March 2017 in Revista Española de Documentación Científica
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Resumen Son pocos los estudios que aplican métodos cualitativos y cuantitativos extensivos para abordar la investigación sobre Reestructuración de la Cartera de Negocio (RCN). El objetivo de este trabajo es identificar los principales autores, revistas y estudios que han informado a la plataforma intelectual subyacente a RCN e identificar los temas que más han impactado. En este estudio, las referencias bibliográficas citadas entre 1959 y 2012, se analizan utilizando diferentes técnicas bibliométricas. Se encuentran tres resultados principales: primero, la base intelectual de este campo involucra una literatura multidisciplinaria y multifacética, aunque las disciplinas de finanzas y administración son los principales contribuyentes a la investigación en RCN. En segundo lugar, los autores, las revistas y los documentos se identifican para seguir el marco principal de la reestructuración de la cartera. Finalmente, los principales precursores de esta área de estudio son la estrategia corporativa, las desinversiones, la diversificación y el gobierno corporativo. Este es un estudio que contribuye no sólo en el campo de la gestión estratégica, sino también en el campo de la gestión de la información.

ACS Style

Angélica María Sánchez-Riofrío; Luis Ángel Guerras-Martín; Francisco Javier Forcadell. Quién es quién en la investigación sobre Reestructuración de la Cartera de Negocios: La estructura intelectual. Revista Española de Documentación Científica 2017, 40, 162 .

AMA Style

Angélica María Sánchez-Riofrío, Luis Ángel Guerras-Martín, Francisco Javier Forcadell. Quién es quién en la investigación sobre Reestructuración de la Cartera de Negocios: La estructura intelectual. Revista Española de Documentación Científica. 2017; 40 (1):162.

Chicago/Turabian Style

Angélica María Sánchez-Riofrío; Luis Ángel Guerras-Martín; Francisco Javier Forcadell. 2017. "Quién es quién en la investigación sobre Reestructuración de la Cartera de Negocios: La estructura intelectual." Revista Española de Documentación Científica 40, no. 1: 162.

Book chapter
Published: 02 July 2016 in The Palgrave Encyclopedia of Strategic Management
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ACS Style

Luis Angel Guerras-MartIn; Guillermo Armando Ronda-Pupo. Strategic Management Journal. The Palgrave Encyclopedia of Strategic Management 2016, 1 -5.

AMA Style

Luis Angel Guerras-MartIn, Guillermo Armando Ronda-Pupo. Strategic Management Journal. The Palgrave Encyclopedia of Strategic Management. 2016; ():1-5.

Chicago/Turabian Style

Luis Angel Guerras-MartIn; Guillermo Armando Ronda-Pupo. 2016. "Strategic Management Journal." The Palgrave Encyclopedia of Strategic Management , no. : 1-5.

Journal article
Published: 23 March 2016 in Scientometrics
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The aim of this paper is to measure the relevance of the institutions in the academic community involved in creating and disseminating knowledge in the field of Management through their position in the collaboration network. This relevance is defined by an original and more comprehensive approach to the analysis of each institution’s importance through degree centrality, as it includes scientific output, while at the same time taking into account the level of collaboration between institutions, as well as the impact of the publications in which each institution is involved. This approach enables us to draw up a ranking of the 103 leading institutions, as well as overcome some of the limitations of prior studies by considering the role each institution plays in the academic community, not only through its scientific output or citations but also through the relationships it forges with other institutions. Our findings confirm the existence of elite groups worldwide that collaborate with other minor institutions, whereas major institutions collaborate less with each other.

ACS Style

Guillermo Armando Ronda-Pupo; Luis Ángel Guerras-Martín. Collaboration network of knowledge creation and dissemination on Management research: ranking the leading institutions. Scientometrics 2016, 107, 917 -939.

AMA Style

Guillermo Armando Ronda-Pupo, Luis Ángel Guerras-Martín. Collaboration network of knowledge creation and dissemination on Management research: ranking the leading institutions. Scientometrics. 2016; 107 (3):917-939.

Chicago/Turabian Style

Guillermo Armando Ronda-Pupo; Luis Ángel Guerras-Martín. 2016. "Collaboration network of knowledge creation and dissemination on Management research: ranking the leading institutions." Scientometrics 107, no. 3: 917-939.

Journal article
Published: 21 December 2014 in Scientometrics
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Business portfolio restructuring (BPR) has received considerable attention in the fields of management and finance. However, to the best of our knowledge, there are no studies applying extensive qualitative and quantitative methods to BPR research. The aim of the present paper is to fill this gap by presenting the first complete bibliometric review of BPR research. In this work, for the first time, not only the extant literature published between 1993 and 2012 is analysed but also the most cited bibliographic references using bibliometric techniques. In this way, past and present academic contributions are reviewed. Four main results are forthcoming: first, a certain parallelism is found with bibliometric studies in strategic management. Second, the intellectual grounding for this field involves the subjects of economics, management and finance as its principal contributors. Third, the theoretical basis for the study of BPR mainly involves agency theory, transaction cost theory, and the resource-based view. Fourth, the financial crisis of 2008 explains an important part of current research priorities and trends among BPR scholars.

ACS Style

Angélica María Sánchez-Riofrío; Luis Ángel Guerras-Martín; Francisco Javier Forcadell. Business portfolio restructuring: a comprehensive bibliometric review. Scientometrics 2014, 102, 1921 -1950.

AMA Style

Angélica María Sánchez-Riofrío, Luis Ángel Guerras-Martín, Francisco Javier Forcadell. Business portfolio restructuring: a comprehensive bibliometric review. Scientometrics. 2014; 102 (3):1921-1950.

Chicago/Turabian Style

Angélica María Sánchez-Riofrío; Luis Ángel Guerras-Martín; Francisco Javier Forcadell. 2014. "Business portfolio restructuring: a comprehensive bibliometric review." Scientometrics 102, no. 3: 1921-1950.