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The purpose of this paper is to present an innovative model that helps create a portfolio of m‐fixed‐income securities, each with the optimal weight, in order for the portfolio to be δ‐ and γ‐hedged against small changes in interest rates. Re‐balancing a portfolio on a periodic basis is necessary, but also very costly. The model presented in this paper minimizes the necessity of rebalancing a portfolio, by choosing the optimal δ‐hedge ratios when constructing the initial portfolio to be hedged against interest rate risk.

In this paper, a general model is developed to obtain the optimal δ hedge for a portfolio of m‐fixed‐income‐securities (a₁, a₂, a₃,…; a_i, … , a_m), each, a function of the market interest rate y, such that when the value of each of the individual securities changes up or down, because of changes in market rates y, the total value of the portfolio is unchanged. The delta hedge is developed under the constraint of a zero‐gamma, in order to avoid costs related to the re‐balancing of such portfolio.

An innovative model is developed that helps create a portfolio of m‐fixed‐income securities, each with the optimal weight, in order for the portfolio to be δ‐ and γ‐hedged against small changes in interest rates.

The model minimizes the necessity of rebalancing a portfolio, by choosing the optimal δ‐hedge ratios when constructing the initial portfolio to be hedged against interest rate risk.

An innovative model has been developed that helps create a portfolio of m‐fixed‐income securities, each with the optimal weight, in order for the portfolio to be delta‐ and gamma‐hedged against small changes in interest rates.

One of the main risks to investors in securitized reverse mortgages is that the value of the reverse mortgage exceeds that of the property. The purpose of this paper is to develop a model that determines paths of constant cross‐over points across any pairs of interest and inflation rate.

To study the behavior of hyper‐surfaces, multivariate calculus was used.

Knowing that the value of a reverse mortgage increases above that of the property value once it goes beyond the cross‐over point t*, it is possible to construct a pool of reverse mortgages, such that for any pairs of inflation rate and interest rate (x, r), these reverse mortgages move along lines of constant cross‐over points t*.

The paper develops a model that determines paths of constant cross‐over points across any pairs of interest and inflation rate, which can be used when structuring pools of reverse mortgage‐backed securities, to credit‐enhance investors.

Interest only strips are created by stripping the interest portion of cash flows generated in mortgage‐backed securities or simply by servicing portfolios of mortgages. A number of financial institutions have significant amounts of mortgage‐servicing rights (MSR) which need to be delta (dynamic) hedged. Because MSR have a positive duration when prepayment effect is stronger than discount effect, it is possible to delta hedge a portfolio of MSR with other fixed income securities such that the value of the portfolio is not affected by increases or decreases in market rates. The purpose of this paper is to address this issue.

The paper develops the delta‐hedge‐ratio of MSR within a dynamic approach, using three different securities. To lower the cost of the delta hedge, the authors compare three hedge ratios dynamically, in order to obtain the portfolio that needs the least delta hedge.

The model enables the reduction of the amount of portfolio rebalancing and therefore reduces the cost of MSR portfolio hedging.

The paper develops the gamma‐hedge‐ratio function for each of the three securities. The lowest gamma corresponds to the hedged portfolio that needs the least re‐balancing.

This paper is innovative with the introduction of a delta‐hedge‐ratio function of interest and prepayment rates.

This paper aims to analyse the open data business models (ODBMs) as a source of knowledge and innovation to generate economic and social value. A framework for understanding ODBMs is presented. First, the knowledge structure of the ODBMs literature is identified. Second, a conceptual model for analysing the ODBMs is proposed. And finally, the future trends in ODBMs research are discussed.

In this paper, co-word analysis is performed to identify the topics related with ODBMs.

The ODBMs structure of knowledge is articulated in five themes: business model, smart city, business ecosystem, decision-making and innovation. Based on these results, a five-step model for analysing ODBMs is proposed. Finally, a discussion of the future trends of ODBMs focussed on a knowledge management perspective, open data ecosystems and business intelligence is presented.

The paper presents a picture of what, where, for whom and for what ODBMs have been studied and develops a new model to explain the value creation process of ODBMs. Taking a step further, applying the principles and models of knowledge management and business intelligence to ODBMs is also recommended in order to transfer and transform open data into valuable knowledge that can be used for developing apps. In that context, the importance of encouraging collaboration between different agents in the so-called open data ecosystem is presented.

The purpose of this paper is to propose a human resource management model for the integration stage of mergers and acquisitions (M/A) process with four key factors: leadership and integration team; change and restructuring process; human resources (HR) resistance; valuable HR retention.

The authors analyze a case study of a multinational company that operates in the mechanical engineering sector.

The results show the special importance of human resource management in the success of the merger and acquisition process. And, the main actions implemented in HR contributing to the success of this process are identified.

Subsequent investigations could conduct similar analyses for the planning and implementation stages of the merger and acquisition process, with the objective of presenting a complete HR management model in merger and acquisition processes.

The case study allows researchers to learn from professionals and business leaders while also offering a theoretical model that can help managers make decisions and improve the management of these processes.

The main contribution of this study has been to observe how HR are managed in the integration stage of M/A.

Many of the papers that analyse human resource management (HRM) in merger and acquisition (M&A) processes focus on the last two stages (integration and implementation). Then, the purpose of this paper is to propose an HRM model for the first stage of the process (planning) with four key factors: the due diligence process, the integration plan, the communication plan and the learning plan.

From the theoretical model, the authors analyse a case study of a multinational company that operates in the mechanical engineering sector.

The results show the special importance of HRM in the success of the M&A process. And, the main actions implemented in human resources (HRs) contributing to the success of this process are identified.

Subsequent investigations could conduct similar analyses for the rest of the stages of the M&A process (integration and implementation), with the objective of presenting a complete HRM model in M&A processes.

The case study allows researchers to learn from professionals and business leaders while also offering a theoretical model that can help managers make decisions and improve the management of these processes.

The main contribution of this study has been to observe how HRs are managed in the planning stage of M&As.

The purpose of this paper is to analyze the different types of work and to examine how they are related with open innovation, either by carrying out relationships with companies or external agents, or through the outsourcing of qualified and creative work.

After the theoretical analysis of the different types of work, the empirical study uses qualitative comparative analysis (QCA) to analyze the different variables and their relations which favor open innovation.

The combination of the variables in the QCA makes it possible to obtain three paths among the characteristics of the qualified work and open innovation, with a positive empirical result. The general conclusion is that the motivation level of the qualified work is relevant for open innovation.

The study has some limitations, notably the reliability of the measurement of the variables, based on the subjective assessment of the respondent employee. The limited number of cases is always a question to be considered, although the statistical results show consistency in the results.

The most important implication for practice is the relevant connection between the internal efficiency in the management of the different types of work and open innovation.

The originality and value of this paper consist in relating the internal efficiency in the work management with the effectiveness and success of open innovation.

This paper aims to highlight the importance of open data and the role that knowledge management and open innovation can play in its identification and use. Open data has great potential to create social and economic value, but its main problem is that it is often not easily reusable. The aim of this paper is to propose a unique identifier for open data-sets that would facilitate search and access to them and help to reduce heterogeneity in the publication of data in open data portals.

Considering a model of the impact process of open data reuse and based on the digital object identifier system, this paper develops a proposal of a unique identifier for open data-sets called Open Data-set Identifier (OpenDatId).

This paper presents some examples of the application and advantages of OpenDatId. For example, users can easily consult the available content catalogues, search the data in an automated way and examine the content for reuse. It is also possible to find out where this data comes from, solving the problems caused by the increasingly frequent federation of data in open data portals and enabling the creation of additional services based on open data.

From an integrated perspective of knowledge management and open innovation, this paper presents a new unique identifier for open data-sets (OpenDatId) and a new concept for data-set, the FAIR Open Data-sets.

The aim of this study is to investigate the effects of soft and hard quality management (QM) practices on innovation performance, considering innovation practices as a contextual variable mediating this relationship.

Using data from 132 Brazilian manufacturing companies, partial least square–structural equation modeling (PLS–SEM) is employed to test if soft and hard QM practices, directly, affect innovation practices and, indirectly, innovation performance. This investigation also aims to identify whether the relationships are maintained regardless of the size of the company.

The results suggest that soft QM has a positive effect on hard QM. However, only soft QM, not hard QM, has a significant effect on innovation practices. Additionally, soft QM has a significant positive effect on innovation performance through innovation practices. Company size does not influence the relationships.

The findings can help managers to adjust their managerial practices to enhance the effective impact of QM on innovation performance.

The previous literature presents conflicting results on the relationship between QM and innovation performance. Most studies have proposed a direct relationship between both constructs. This study considers innovation practices as a mediator in this relationship. Furthermore, this paper adds to the scarce literature reporting related studies conducted in developing countries.

The purpose of this paper is to identify segments of Mexican consumers with regard to their motives for food choices.

A questionnaire based on the Food Choice Questionnaire was applied to 1,202 consumers. A factor analysis and a cluster analysis were performed on the data.

Ten factors were identified: care for weight and health, social sensitivity, practicality, economic aspects, non-industrialized, hedonism, traditionality A, familiarity, traditionality B, and no added sugar. Resulting clusters were named as: traditional, healthy, conscious, and careless. Statistically significant differences (p<0.05) were found due to gender, age, marital status, and educational level, but not for body mass index. There are signs of different consumers, but it seems that Mexican consumers in general express low sensitivity to issues of health and nutrition, even more so towards animal welfare and products that are friendly to the environment.

The large diversity of motivations and behaviours in food consumption in Mexico are not all addressed in this study. However, this work opens a new area of research in Mexico so that in the near future studies on the diversity of Mexican consumers are undertaken, looking at the transformation of their food preferences.

In Europe, governments have addressed the new forms of consumption taking advantage of opportunities that benefit local producers, through the generation of added value as “Protected Designations of Origin (DOP)”, geographical indications, collective brands, ecological produce, local products of the land, among others. These proposals are promoted as a path to follow in Latin America, assuming that Latin American consumers have the same characteristics or interests as in those developed countries. But, not knowing consumers motives of preference represents a problem in the processes of valorization of food products.

Economic development, demographic, and sociocultural changes in Latin America have promoted phenomena both in the polarization of livelihoods in their societies as well as changes of lifestyles in different social strata. Therefore, studies are needed on the effect of these changes not only in food consumption, but also on the symbolic elements when consumers choose their food.

In Mexico, the study of food consumption has followed diverse approaches, as a matter of policy, from an economic perspective, from anthropology, particularly focussed on indigenous cultures, from the nutrition and health field or emphasizing economic aspects. As in other developing countries, those works do not address the role of the consumer and their motivations, so that research that studies their motives in the choice of foods is needed.