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This paper analyzes the Corporate Social Responsibility (CSR) of a sample of wineries in Spain and its effect on the companies’ performance. We used a questionnaire created with a validated scale that includes environmental and social dimensions. The final sample was made up of 127 firms that participated in the National Wine Fair (FENAVIN) in 2019, and this was analyzed using a cluster analysis and means contrast to verify whether a CSR-performance relationship exists. The performance was measured using the average return on assets (ROA) for the prior three years. The results obtained do not support the general opinion that enterprises involved with CSR achieve better results. On the contrary, we found that wineries that are more environmentally responsible are the least profitable and that those with more socially responsible behavior do not have a significant CSR-performance relationship.
Rosa Muñoz; M. Fernández; Yolanda Salinero. Sustainability, Corporate Social Responsibility, and Performance in the Spanish Wine Sector. Sustainability 2020, 13, 7 .
AMA StyleRosa Muñoz, M. Fernández, Yolanda Salinero. Sustainability, Corporate Social Responsibility, and Performance in the Spanish Wine Sector. Sustainability. 2020; 13 (1):7.
Chicago/Turabian StyleRosa Muñoz; M. Fernández; Yolanda Salinero. 2020. "Sustainability, Corporate Social Responsibility, and Performance in the Spanish Wine Sector." Sustainability 13, no. 1: 7.
Purpose – The purpose of this study is to analyze, in the context of the last economic crisis, the prediction capacity of the different risk measures and the relationship between risk and return. Design/methodology/approach – We selected three risk measures constructed using annual accounting data obtained from Spanish companies. A logistic regression was then developed to verify whether the companies’ predictions were eventually correct, considering those companies that were able to survive the crisis. A multiple linear regression was subsequently employed in order to review Bowman’s paradox, that is, in the risk-return relationship. Findings – The research results support the two hypotheses formulated: 1) variability measures of risk have a greater predictive power than that of downside risk measures; 2) the risk-return paradox is more likely to exist in the more uncertain environment of a pre-crisis period of time. Originality/value – Managers could employ the frameworks developed in this study as important diagnostic tools in order to attain advance warning of whether an organization may be close to failure. An analysis of this nature would then allow a firm to take appropriate action to arrest the process. Objetivo – O objetivo deste estudo é analisar, no contexto da última crise econômica, a capacidade de previsão das diferentes medidas de risco e a relação entre risco e retorno. Metodologia – Selecionamos três medidas de risco construídas usando dados contábeis anuais obtidos de empresas espanholas. Uma regressão logística foi então desenvolvida para verificar se as previsões das empresas estavam corretas, considerando aquelas que conseguiram sobreviver à crise. Uma regressão linear múltipla foi empregada posteriormente para revisar o paradoxo de Bowman, ou seja, a relação risco-retorno. Resultados – Os resultados da pesquisa apoiam as duas hipóteses formuladas: uma medida de variabilidade do risco tem poder preditivo maior do que o das medidas de risco descendentes; e o paradoxo risco-retorno tem maior probabilidade de existir no ambiente mais incerto de um período pré-crise. Contribuiçõe s – Os gestores podem empregar as estruturas desenvolvidas neste estudo como importantes ferramentas de diagnóstico, a fim de obter um aviso sobre a iminência de uma falha na empresa. Uma análise dessa natureza permitirá que a empresa tome as medidas apropriadas para interromper o processo. Objetivo – O objetivo deste estudo é analisar, no contexto da última crise econômica, a capacidade de previsão das diferentes medidas de risco e a relação entre risco e retorno. Metodologia – Selecionamos três medidas de risco construídas usando dados contábeis anuais obtidos de empresas espanholas. Uma regressão logística foi então desenvolvida para verificar se as previsões das empresas estavam corretas, considerando aquelas que conseguiram sobreviver à crise. Uma regressão linear múltipla foi empregada posteriormente para revisar o paradoxo de Bowman, ou seja, a relação risco-retorno. Resultados – Os resultados da pesquisa apoiam as duas hipóteses formuladas: uma medida de variabilidade do risco tem poder preditivo maior do que o das medidas de risco descendentes; e o paradoxo risco-retorno tem maior probabilidade de existir no ambiente mais incerto de um período pré-crise. Contribuiçõe s – Os gestores podem empregar as estruturas desenvolvidas neste estudo como importantes ferramentas de diagnóstico, a fim de obter um aviso sobre a iminência de uma falha na empresa. Uma análise dessa natureza permitirá que a empresa tome as medidas apropriadas para interromper o processo.
Rosa María Muñoz; Jesús David Sánchez De Pablo; Yolanda Salinero; Isidro Peña. Risk measures and the risk-return paradox: an analysis in the context of the economic crisis. Review of Business Management 2020, 22, 348 -362.
AMA StyleRosa María Muñoz, Jesús David Sánchez De Pablo, Yolanda Salinero, Isidro Peña. Risk measures and the risk-return paradox: an analysis in the context of the economic crisis. Review of Business Management. 2020; 22 (2):348-362.
Chicago/Turabian StyleRosa María Muñoz; Jesús David Sánchez De Pablo; Yolanda Salinero; Isidro Peña. 2020. "Risk measures and the risk-return paradox: an analysis in the context of the economic crisis." Review of Business Management 22, no. 2: 348-362.
There is a considerable amount of research concerning the issue of entrepreneurial intentions, which has attained mixed findings. Integrating sustainability, in the sense of considering disabled people, into the current entrepreneurial intention research makes it possible to fill an important research gap. The main objective of this paper is to clarify the contribution that education, students’ traits, and contextual factors make to an individual’s entrepreneurial intent when disabled students are incorporated into the analysis as an innovative field of study. The aim of this research is to analyze the entrepreneurial intentions of disabled people who are studying in higher education and compare them with non-disabled students while considering the main factors described in previous studies. In order to achieve this objective, we have carried out a logistic regression with a sample of Spanish students. The main findings are: Education does not influence students’ entrepreneurial intentions, which are affected by only some of the students’ traits and background conditions. Regarding the disabled students’ entrepreneurial intentions, we have found no significant differences compared with those of students who are not disabled. Initiatives such as those of the University of Castilla-La Mancha (UCLM) described in the paper should, therefore, be encouraged, keeping in mind that disabled students do not always show a lack of confidence in themselves as some studies have claimed.
Rosa M. Muñoz; Yolanda Salinero; M. Valle Fernández. Sustainability, Entrepreneurship, and Disability: A New Challenge for Universities. Sustainability 2020, 12, 2494 .
AMA StyleRosa M. Muñoz, Yolanda Salinero, M. Valle Fernández. Sustainability, Entrepreneurship, and Disability: A New Challenge for Universities. Sustainability. 2020; 12 (6):2494.
Chicago/Turabian StyleRosa M. Muñoz; Yolanda Salinero; M. Valle Fernández. 2020. "Sustainability, Entrepreneurship, and Disability: A New Challenge for Universities." Sustainability 12, no. 6: 2494.
The European Commission considers the following groups of entrepreneurs: females, family businesses, liberal professions, migrants, and seniors. Disabled people are not included, and this paper could, therefore, open up a new field of research and an important issue to be considered among the European Union’s social objectives. The University of Castilla-La Mancha (UCLM) in Spain provides an entrepreneurship education course, “Entrepreneurship and disability,” for disabled students. It is the first time that a course with these characteristics has been taught at a Spanish University, which signifies that there is no similar research of this nature. Keeping in mind its originality, this study makes an important contribution to the field. The main objective is to analyze whether the motivation to start up a business differs between students with disabilities and those without. We analyzed “before” and “after” data in order to test the potential impact of entrepreneurship education on the students’ entrepreneurial attitude. An analysis of variance with several demographic variables has allowed us to prove that the education that students received, their business experience, and their field of study have significant effects. This statistical test showed no significant differences between disabled and non-disabled students.
Rosa Maria Muñoz; Yolanda Salinero; Isidro Peña; Jesus David Sanchez De Pablo. Entrepreneurship Education and Disability: An Experience at a Spanish University. Administrative Sciences 2019, 9, 34 .
AMA StyleRosa Maria Muñoz, Yolanda Salinero, Isidro Peña, Jesus David Sanchez De Pablo. Entrepreneurship Education and Disability: An Experience at a Spanish University. Administrative Sciences. 2019; 9 (2):34.
Chicago/Turabian StyleRosa Maria Muñoz; Yolanda Salinero; Isidro Peña; Jesus David Sanchez De Pablo. 2019. "Entrepreneurship Education and Disability: An Experience at a Spanish University." Administrative Sciences 9, no. 2: 34.
The main purpose of this paper is to provide an understanding, within the field of corporate entrepreneurship, of the various factors that enable technology entrepreneurship in established firms and its principal effects on customers and society. The paper reports on a case study regarding technology entrepreneurship in a Spanish company whose activity is pharmaceutical distribution. This company has been able to overcome the consequences of the worldwide crisis and start an innovative process which includes the installation of new Information Technology (IT) and an investment of 6 million Euros. It is, in this respect, a model to imitate and the objective of this paper is therefore to discover the managers’ entrepreneurial orientation characteristics which have made this possible, along with the organizational and social effects resulting from the process. We verify that entrepreneurial orientation is present in this company and that the development of new IT has important effects on customers and the population.
Rosa M. Muñoz; Jesús D. Sánchez De Pablo; Isidro Peña; Yolanda Salinero. The Effects of Technology Entrepreneurship on Customers and Society: A Case Study of a Spanish Pharmaceutical Distribution Company. Frontiers in Psychology 2016, 7, 1 .
AMA StyleRosa M. Muñoz, Jesús D. Sánchez De Pablo, Isidro Peña, Yolanda Salinero. The Effects of Technology Entrepreneurship on Customers and Society: A Case Study of a Spanish Pharmaceutical Distribution Company. Frontiers in Psychology. 2016; 7 ():1.
Chicago/Turabian StyleRosa M. Muñoz; Jesús D. Sánchez De Pablo; Isidro Peña; Yolanda Salinero. 2016. "The Effects of Technology Entrepreneurship on Customers and Society: A Case Study of a Spanish Pharmaceutical Distribution Company." Frontiers in Psychology 7, no. : 1.
In recent years, training has become one of the sources of competitive advantage for any business, since it constitutes a manner in which to augment the inimitability of human factor. We propose the study of this variable from two perspectives: (1) to verify its effects on business results, and (2) to analyse the existing relationship between training and business strategies. Our research has focused on Spanish businesses of more than 50 employees, which were sent a postal questionnaire.
Rosa María Muñoz Castellanos; María Yolanda Salinero Martín. Training as a source of competitive advantage: performance impact and the role of firm strategy, the Spanish case. The International Journal of Human Resource Management 2011, 22, 574 -594.
AMA StyleRosa María Muñoz Castellanos, María Yolanda Salinero Martín. Training as a source of competitive advantage: performance impact and the role of firm strategy, the Spanish case. The International Journal of Human Resource Management. 2011; 22 (3):574-594.
Chicago/Turabian StyleRosa María Muñoz Castellanos; María Yolanda Salinero Martín. 2011. "Training as a source of competitive advantage: performance impact and the role of firm strategy, the Spanish case." The International Journal of Human Resource Management 22, no. 3: 574-594.