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1 – 10 of 932Maximiliano Gonzalez, Juan David Idrobo and Rodrigo Taborda
The purpose of this paper is to carry out a meta-regression analysis upon the literature that examines the relationship between family firms and financial performance.
Abstract
Purpose
The purpose of this paper is to carry out a meta-regression analysis upon the literature that examines the relationship between family firms and financial performance.
Design/Methodology/Approach
Information of publication and study characteristics from 61 primary studies, comprising 726 size effects was collected. In particular, three leading factors highlighted in narrative literature reviews analyzed were: the financial performance measures, the family–firm definitions and the estimation methodologies.
Findings
Overall, a positive relationship between family involvement and financial performance was found. A series of results, those linked to return on assets (ROA) – earnings before interest, taxes, depreciation and amortization (EBITDA), suggest positive publication bias from family definition and negative publication bias when OLS is used. Tobin’s Q estimates show no linkage to certain traits and aspects of the research process.
Originality/value
Existing literature review and meta-analysis studies show not concluding results on the family effect upon firm performance. The meta-regression analysis used in this paper allows to examine simultaneously effect size and publication bias. The latter effect is particularly salient in the approach and findings, and not present in previous studies.
Propósito
Llevar a cabo un análisis de meta-regresión a la literatura que examina la relación entre firmas familiares y desempeño financiero.
Diseño/metodología/aproximación
Se usa la información de la publicación y características del estudio de 61 estudios primarios, que incluyen 726 estimaciones. Se examinan tres elementos principales de esta literatura: (i) medidas de desempeño financiero, (ii) definición de firma familiar, y (iii) metodología de estimación.
Resultados
Se establece una relación positiva entre involucramiento familiar y desempeño financiero. Las estimaciones que examinan ROA-EBITDA sugieren sesgo positivo de publicación. Las estimaciones que utilizan estimación de Mínimos Cuadrados Ordinarios sugieren un sesgo negativo de publicación. Las estimaciones que examinan la Q de Tobin, no sugieren relación con las características de los estudios o de la investigación.
Originalidad/valor
Los estudios de meta-análisis existentes sobre esta literatura no ofrecen resultados concluyentes del efecto de las firmas familiares y desempeño financiero. El método de meta-regresión permite examinar simultáneamente el efecto entre las variables y la posible existencia de sesgo de publicación. La indagación de este último es de particular interés y no se encuentra en otros estudios.
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Cristina de Fuentes and Eva Sierra
The purpose of this paper is to provide a comprehensive review of the literature that links auditor’s industry specialization (AIS) and audit fees (AFs) in order to clarify the…
Abstract
Purpose
The purpose of this paper is to provide a comprehensive review of the literature that links auditor’s industry specialization (AIS) and audit fees (AFs) in order to clarify the puzzle of published results and provide overall conclusions that would help in future research.
Design/methodology/approach
To achieve this goal, the authors applied meta-analysis techniques in order to summarize, quantify and evaluate the published data related to the association between AIS and AF.
Findings
The meta-results are more robust when the proxy for AIS is the audit firm’s market share above 20 percent or the audit firm is jointly the national and city leader. For US-based studies, results are homogeneous in the post-SOX period. This is likely due to the higher demand for specialized auditors. The authors found positive and homogeneous results in the upper and lower market segment, which led to the conclusion that the bargaining power of the big auditees does not fully counteract the higher auditor specialization costs. Although the authors identified a publication selection bias, a specialization coefficient of around 2.0 percent was estimated.
Originality/value
The conclusions are relevant for those researchers that would benefit from a structured and systematic review of the published results. The outcomes help to understand the somehow contradictory empirical evidence and to provide solid foundations for future hypothesis developments. This contribution is also relevant for the regulatory bodies, always watchful of audit market behavior and the evolution of audit prices.
Propósito
Ofrecer una revisión de la literatura que vincula la especialización industrial del auditor y los honorarios de auditoria, con el objetivo de esclarecer el actual puzzle de resultados y suministrar conclusiones generales que faciliten investigaciones futuras.
Diseño/metodología/enfoque
Para conseguir este objetivo, aplicamos técnicas de meta-análisis que resumen, cuantifican y evalúan los datos publicados relativos a la asociación entre la especialización industrial del auditor y los honorarios de auditoria.
Resultados – Nuestros meta-resultados son más robustos cuando se identifica a una firma auditora como especializada si en ese sector industrial, o bien su cuota de mercado es superior al 20% o bien es la firma líder tanto en el ámbito de ciudad como nacional. En aquellos estudios desarrollados en EEUU, los resultados son homogéneos sólo en el periodo post-SOX, debido probablemente a que dicha ley generó una mayor demanda de auditores especializados. También encontramos que existe prima por especialización y resultados homogéneos tanto en el segmento de mercado inferior como superior, por lo que concluimos que el poder de negociación de los clientes mayores no compensa totalmente los mayores costes de especialización. Aunque identificamos un sesgo de selección en la publicación, estimamos que el coeficiente de especialización es aproximadamente del 2%.
Originalidad/Valor
Nuestras conclusiones son relevantes para aquellos investigadores que necesiten una revisión estructurada y sistemática de los resultados publicados, puesto que ayudan a comprender resultados previos aparentemente contradictorios y facilitan el desarrollo de futuras hipótesis de investigación. Esta contribución también es relevante para los organismos reguladores, siempre pendientes del comportamiento del mercado de auditoría y de los precios de este servicio.
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Enrique Ogliastri, Carlos Pombo and Elvira Salgado
The purpose of this paper is to introduce the anniversary issue marking 30 years of academic publication.
Abstract
Purpose
The purpose of this paper is to introduce the anniversary issue marking 30 years of academic publication.
Design/methodology/approach
This anniversary issue contains 12 articles from 11 countries and 17 academic institutions which present literature reviews, meta-analyses, and novel studies. It also contains testimonials about the history of the journal from Enrique Ogliastri (Editor and/or Director between 1998 and 2018), Elvira Salgado (Editor between 2002 and 2013), and Carlos Pombo (Chief Editor, 2013 to the present).
Findings
The history of the journal may be divided into five stages: first, the foundation at the Universidad de Chile (1988-1998); second, the move to the Universidad de los Andes (Bogotá) and the preparation of a proposal to the Institute of Scientific Information (ISI) for inclusion among the scientific journals of the world (1999-2004); third, a period of consolidation in Latin America (2004-2007); fourth, the acceptance of the journal in ISI and the development of an electronic platform with free access to the journal (2008-2013); and fifth, the entry of the Emerald group as editorial partner (2013-2018).
Originality/value
The 12 articles present literature reviews, meta-analyzes, and novel studies.
Propósito
El propósito de este editorial es presentar el tema del aniversario.
Diseño/metodología/enfoque
Se publican doce artículos provenientes de once países y 17 instituciones académicas. Se presentan los testimonios de Enrique Ogliastri (editor y/o director entre 1998 y 2018), Elvira Salgado (Editora entre 2002 y 2013), y Carlos Pombo (jefe editorial 2013-2018).
Hallazgos
Se publican doce artículos provenientes de once países y 17 instituciones académicas. Se presentan los testimonios de Enrique Ogliastri (editor y/o director entre 1998 y 2018), Elvira Salgado (Editora entre 2002 y 2013), y Carlos Pombo (jefe editorial 2013-2018). La historia de la revista de CLADEA se podría dividir en cinco etapas: la fundación en la Universidad de Chile (1988-1998); pasó a cargo de la Universidad de los Andes (Bogotá), un período de puesta a punto para presentar al Institute of Scientific Information (ISI) la solicitud de ser analizada e incluida entre las revistas científicas del mundo (1999-2004); el período de consolidación en América Latina (2004-2007); la aceptación en ISI y el desarrollo de una plataforma electrónica de acceso libre a la revista (2008-2013); y el ingreso del grupo Emerald como socio editorial (2013-2018).
Originalidad/valor
Los 12 artículos presentan revisiones de literatura, metanálisis y estudios novedosos
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Víctor Ernesto Pérez León, Flor Mª Guerrero and Rafael Caballero
This study aims to present diverse proposals for the measurement of tourism destination competitiveness that serve as alternatives to the travel and tourism competitiveness index…
Abstract
Purpose
This study aims to present diverse proposals for the measurement of tourism destination competitiveness that serve as alternatives to the travel and tourism competitiveness index (TTCI).
Design/methodology/approach
The proposal includes principal component analysis, the DP2-distance method, goal programming, data envelopment analysis and the Borda count. The study evaluates 17 destinations from Central America and the Caribbean.
Findings
These include the feasibility that the methodologies provide reliable competitiveness rankings and the possibility of using less information due to the strength of the statistical methodologies. International tourist arrivals, income from international tourism and travel and tourism contribution to the gross domestic product could be used as approximations of tourism destination competitiveness.
Research limitations/implications
The main limitation is the absence of major destinations from the region that constitutes fierce competitors.
Practical implications
New aggregation methods can build composite indicators for competitiveness measurement and their presentation in a more comprehensible way.
Social implications
The results serve as an alternative for countries that have yet to be considered in international tourism competitiveness comparisons.
Originality/value
A better explanatory power of the proposed index is given, thanks to their decomposition capacity and the reduction of the limitations of the original TTCI. Moreover, the proposals facilitate the inclusion of external information or the execution of a completely objective methodology.
目的
本研究旨在为衡量旅游目的地竞争力提出多样化的建议, 并作为旅行和旅游竞争力指数的替代方案。
设计/方法/方法
该提案包括主成分分析、DP2 距离方法、目标规划、数据包络分析和 Borda 计数。 该研究评估了中美洲和加勒比地区的 17 个目的地。
调查结果
结果包括这些方法提供可靠的竞争力排名的可行性, 以及由于统计方法的优势而使用较少信息的可能性。 国际旅游人数、国际旅游收入以及旅行和旅游对 GDP 的贡献可以用作旅游目的地竞争力的近似值。
研究局限/影响
主要局限是该地区没有竞争激烈的主要目的地。
实际意义
新的聚合方法可以为竞争力测量建立综合指标, 并以更易于理解的方式呈现。
社会影响
结果可作为国际旅游竞争力比较中, 衡量尚未考虑国家的替代方案。
原创性/价值
由于其分解能力和原始 TTCI 限制的减少, 所提出的指数具有更好的解释力。 此外, 这些建议有助于纳入外部信息及执行完全客观的方法。
Propósito
El presente estudio busca presentar diversas metodologías para medir la competitividad de los destinos turísticos, de modo que sirvan como alternativa al Índice de Competitividad de Viajes y Turismo.
Diseño/metodología/enfoque
La propuesta incluye Análisis de Componentes Principales, el método de distancia DP2, Programación por Metas, Análisis Envolvente de Datos y el Recuento de Borda. Se analizan 17 destinos de Centro América y el Caribe.
Hallazgos
Estos incluyen la validez de las metodologías para obtener rankings de competitividad fiables y la posibilidad de emplear menor cantidad de información, dadas las fortalezas de los procedimientos estadísticos propuestos. Las Llegadas de Turistas Internacionales, los Ingresos por Turismo Internacional, y la Contribución del Turismo al PIB podrían ser buenas aproximaciones para medir competitividad turística
Limitaciones/implicaciones
La principal limitación es la ausencia de destinos importantes de la región, que se consideran importantes competidores.
Implicaciones prácticas
Novedosos procedimientos de agregación para crear indicadores sintéticos para medir la competitividad turística y su presentación de un modo más comprensible.
Implicaciones sociales
Los resultados sirven como alternativa para otros destinos que aún no han sido considerados en comparaciones internacionales de competitividad turística.
Originalidad
Un mejor poder explicativo de los índices propuestos, gracias a su capacidad de descomposición, y la reducción de las limitaciones del índice del WEF. Además, las propuestas facilitan la inclusión de información externa o la ejecución de un método completamente objetivo.
Details
Keywords
- Competitiveness
- Central America and the Caribbean
- Composite indicators
- Distance-based methods
- Multicriteria
- Data envelopment analysis
- 竞争力
- 中美洲和加勒比
- 综合指标
- 基于距离的方法
- 多标准
- 数据包络分析
- Competitividad
- Centro américa y el caribe
- Indicadores sintéticos
- Métodos basados en distancia
- Multicriterio análisis envolvente de datos
Carlos Pombo and Enrique Ogliastri
This Special Issue is dedicated to the memory of the unexpectedly deceased Professor Luis J. Sanz, president of BALAS and Associate Editor of ARLA. The issue includes six papers…
Abstract
This Special Issue is dedicated to the memory of the unexpectedly deceased Professor Luis J. Sanz, president of BALAS and Associate Editor of ARLA. The issue includes six papers from Chile, Spain and Costa Rica/Argentina. The case study is on the privatization of the Buenos Aires underground in 1998, a topic of renewed interest in 2015. One of the studies determines the effect of director education and international experience on the firm’s access to international markets. Another paper studies the effect of corporate board diversity on company reputation. The third analyzes the negative effect of the politicization of State savings banks on the benefits of these financial institutions in Spain. The fourth studies the effect of the diversification strategy and cross-control by shareholder groups on firm value in Chile. Finally, we have a literature review, using meta-analysis methodology, on the relationship between auditor specialization by industry and the structure of audit fees.
Resumen
Este número especial es dedicado a la memoria del súbitamente fallecido profesor Luis J. Sanz, presidente de BALAS y Editor Asociado de ARLA. Publicamos seis trabajos originados en Chile, España, y Costa Rica/Argentina. El caso trata sobre la privatización del metro de Buenos Aires en 1998, tema de renovada vigencia en 2015. Un estudio determina el efecto de la educación de posgrado y la experiencia internacional de los directores en el nivel de acceso a mercados internacionales de sus empresas. El segundo estudia el efecto de la diversidad en la composición de las juntas directivas sobre la reputación de la empresa. Tercero, se analiza el efecto negativo de la politización de las cajas de ahorros estatales en los beneficios de estas instituciones financieras en España. Cuarto, se estudia el efecto de la estrategia de diversificación y del control cruzado de grupos de accionistas sobre el valor de la empresa en Chile. Finalmente, una revisión de la literatura con metodología de meta análisis sobre la relación entre la estructura de auditores especializados por sector empresarial y la estructura de precios de sus tarifas.
Víctor Giménez, Diego Prior and Jorge R. Keith
This paper aims to investigate the efficiency implications of belonging to a strategic hospital alliance (SHA) and measuring the effects over capacity utilization of such…
Abstract
Purpose
This paper aims to investigate the efficiency implications of belonging to a strategic hospital alliance (SHA) and measuring the effects over capacity utilization of such agreements in a Mexican healthcare context.
Design/methodology/approach
Data Envelopment Analysis (DEA) is the nonparametric methodology used, which supports both objectives. Technological gaps ratios are calculated by using DEA-metafrontier approach to compare efficiency between SHA members and a hospital’s control group. Also, hospital capacity utilization ratios are used as the maximum rate of output possible from fixed inputs in a frontier setting using directional distance functions. Data were collected from an alliance called Consorcio Mexicano de Hospitales in México, which has 29 general private hospitals and a group of 47 hospitals with same characteristics from a database made by the Instituto Nacional de Estadística y Geografía for year 2014.
Findings
The results indicate that efficiency is better at hospitals that belong to an alliance; it also shows an improvement of installed capacity management for hospital alliances in México.
Originality/value
The results can be useful for both private health organization managers and regulators themselves to adopt management practices that may end up having a favorable impact on cost and prices containment. Additionally, there are no previous studies neither in Mexico nor in Latin America that analyze the impact of strategic hospitality alliances on the efficiency and utilization of the capacity of private hospitals.
Propósito
Este documento tiene como objetivo investigar las implicaciones de pertenecer a una alianza hospitalaria estratégica (AHE) en la eficiencia, así como cuantificar los efectos sobre la utilización de la capacidad de dichos acuerdos en el contexto mexicano de atención médica.
Diseño/metodología/enfoque
El Análisis Envolvente de Datos (DEA) es la metodología no paramétrica utilizada para lograr ambos objetivos. Las brechas tecnológicas se estiman empleando meta-fronteras calculadas mediante modelos DEA, comparando la eficiencia entre los miembros de la AHE y un grupo de control de hospitales. El nivel de utilización de la capacidad hospitalaria se calcula, utilizando funciones direccionales de distancia, a partir del máximo output alcanzable a partir de la dotación de inputs fijos. Los datos fueron obtenidos de la alianza Consorcio Mexicano de Hospitales en México, integrada por 29 hospitales privados generales, y de un grupo de 47 hospitales con las mismas características obtenidos de una base de datos del Instituto Nacional de Estadística y Geografía para el año 2014.
Resultados
adosLos resultados indican que los niveles de eficiencia son superiores en los hospitales pertenecientes a la alianza, así como una mejor gestión de la capacidad instalada en la alianza hospitalaria en México.
Originalidad/valor
Los resultados pueden ser útiles tanto para los administradores de las organizaciones de salud privadas como para los reguladores, de forma que puedan adoptar prácticas de gestión con un impacto favorable en la contención de costos y precios. Asimismo, no existen estudios previos ni en México ni en América Latina que analicen el impacto de las alianzas estratégicas hospitalarias en la eficiencia y la utilización de la capacidad de los hospitales privados.
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Felipe F. Guimarães and Kyria Rebeca Finardi
The Annual Review of Comparative and International Education (ARCIE) represents a forum and an opportunity for scholars worldwide to discuss and examine trends and directions in…
Abstract
The Annual Review of Comparative and International Education (ARCIE) represents a forum and an opportunity for scholars worldwide to discuss and examine trends and directions in comparative/international education, highlighting relevant developments in these fields, related to educational contexts, climates, and reforms in these contexts. Changes and reforms within these contexts and areas can have significant impacts on various education stakeholders, agents, and societies. Given the need to identify and prepare for these changes, the objective of this chapter is to discuss recent trends and directions in the field of Comparative and International Education (CIE). The method employed to identify these trends was a meta-analysis of the 23 chapters published in the 2020 edition of ARCIE. The 23 chapters composed the corpus of texts analyzed in this study, with the support of an online platform for corpora processing. Results of the analysis were contrasted with relevant literature in the field and suggest that (among the three main missions of universities) teaching and research received more attention than outreach/services, considering the corpus analyzed. In addition, teachers and students received more attention than administrative staff. Therefore, we conclude that more attention is necessary toward these aspects (outreach and administrative staff) in the pursuit of social justice and UN’s sustainable development goals (SDGs). Finally, the prevalence of topics related to language and sustainability suggests a need for more representativeness, in terms of regions and languages studied in the field of CIE.
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Carolina Herrera-Cano and Maria Alejandra Gonzalez-Perez
This chapter aims to evaluate the relationship between the representation of women on corporate boards of directors and its impact on firm financial performance.
Abstract
Purpose
This chapter aims to evaluate the relationship between the representation of women on corporate boards of directors and its impact on firm financial performance.
Design/Methodology/Approach
This study utilized both a systematic review and a meta-analysis, using a sample of 40 published studies, which gleaned financial indicator and observation data from 28 different countries.
Findings
As indicated in previous studies, while positive, there was no significant correlation found between the number of women serving on the boards of directors and firm financial performance.
Research Limitations/Implications
The heterogeneity between the various studies analyzed may present difficulties in making general conclusions. The chapter could also be subject to publication bias, as the selection criteria included may indicate a need for further peer review. Future meta-analyses should include data associated with other financial indicators.
Practical Implications
This study shows how composition ratios of men/women serving on corporate boards should be addressed in terms of proving for a greater diversity of leadership perspectives.
Originality/Value
Previous systematic reviews and meta-analyses have analyzed country environments as moderators for the relationship between the representation of women on corporate boards and firm financial performance. The present study evaluates possible differences between the impact of the number of women serving on the board of directors on a variety of financial indicators (ROA, ROE, and Tobin’s Q).
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Maria Laura Victória Marques, Daniel de Abreu Pereira Uhr and Julia Ziero Uhr
This paper aims to identify the income and price elasticities of demand for residential electricity in Latin America and the Caribbean (LAC) and to verify their main determinants.
Abstract
Purpose
This paper aims to identify the income and price elasticities of demand for residential electricity in Latin America and the Caribbean (LAC) and to verify their main determinants.
Design/methodology/approach
Meta-analysis and meta-regression methods were applied. After collecting and filtering journal articles, the authors obtained a sample composed of 76 studies covering 1979–2020.
Findings
The results show that the LAC's income elasticity is approximately 0.20 and 0.92 for the short and long term, respectively. The LAC's price elasticity is approximately −0.37 and −0.46 for the short and long term, respectively. Furthermore, the estimates are affected by the data structure, the estimation method used and the sampling period.
Originality/value
The authors close a gap in the literature by analyzing the price and income elasticities of demand through meta-analysis and meta-regression.
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This issue includes six articles from ten universities in Chile, Colombia and Spain. The subjects are on entrepreneurship, public administration, management of intellectual…
Abstract
This issue includes six articles from ten universities in Chile, Colombia and Spain. The subjects are on entrepreneurship, public administration, management of intellectual capital marketing and also the immediate rejection policies of the journal's editor. The first study identifies different models of support programs in creating technology-based companies (spin‐offs) in universities from Spain and Great Britain, and the factors that determine their efficiency. The second one is on that factors that lead a person to entrepreneurship, particularly the impact of gender and the sociocultural aspects in regional entrepreneurships of Chile. The third studies the continuity of the entrepreneurial spirit in university students many years after graduating. The fourth makes an evaluation of the service portals available to the citizens of 19 countries in Latin America. The fifth is a study of the nets of scientific collaboration of the most prestigious Latin American business schools. The sixth is a study on the market orientation and obtained results in the business of rural tourism. An Editorial also deals with the criteria for immediate rejection of articles received by the journal. We plan a special issue on culture and art management, associated with the EURAM conference.
Resumen
Este número incluye seis artículos provenientes de diez universidades de Chile, Colombia y España, sobre emprendimiento, administración pública, gestión del capital intelectual y mercadeo, así como la política de rechazo inmediato del editor de la revista. El primer estudio identifica diferentes modelos de programas de apoyo a la creación de empresas con base tecnológica (spin‐offs) en universidades de España y Gran Bretaña, y los factores que determinan su eficacia. El segundo sobre factores que llevan a una persona a emprender, en particular el impacto del género y aspectos socioculturales en los emprendimientos regionales en Chile. El tercero estudia la continuidad del espíritu empresarial de los universitarios varios años después de graduarse. El cuarto realiza una evaluación de los portales de servicio al ciudadano en 19 países de América Latina. El quinto es un estudio de las redes de colaboración científica de las escuelas de negocios más prestigiosas de América Latina. El sexto es un estudio sobre la orientación al mercado y los resultados obtenidos en el negocio de pequeñas firmas de servicios de turismo rural. Un Editorial trata sobre los criterios para rechazo inmediato de artículos recibidos en la revista. Planeamos un número especial sobre la gestión cultural y de arte, asociada a la conferencia de EURAM.