Corporate Social Responsability is one of the strongest bets for the future in the European Union. CSR principles are characterised by the willingness to incorporate a series of management guidelines to achieve positive actions (ethical, solidarity, environmental, ...) within the interest...

The aim of this study is to analyze whether the factors influencing debt change their effect depending on the company's debt level. This could be very useful for studying for example high-debt firms' determinants. We work with a panel data of 17,776 companies for the 2001-2006 period and through...

The dismal growth performance of Africa in the last decades is one of the main worries of the global economy. In this paper we design an empirical model to explain how the growth rate of the economy is affected by changes in international trade. The main message of the model is that integration...

According to Kaldor (1970), regional growth patterns arise from a cumulative causation process as broadly combining two substantial mechanisms i.e. a productivity regime, known as the 'Kaldor-Verdoorn' law, and a demand regime due to the expansion of exportations. This paper attempts to assess...

Fund Management today uses the active and passive way to construct a portfolio. Exchange Traded Funds (ETFs) are cheap instruments to cover the passive managed part of the investment. ETFs exist for stock-, bond- and commodity markets. In most cases the underlying of an ETF is an Index. Besides...

An ageing population is prompting the reform of pension systems. The Spanish pension system has undergone two consecutive reforms and a third one is currently being taking into consideration. All three involve the lengthening of the period used to calculate the size of pensions. This paper...

The purpose of this paper is to analyze and interpret current economic and financial crisis and its similarities to the crisis that occurred in the twentieth century, marking its causes and consequences. For this study we consider the series of product and growth rates U.S. and UK as they have...

Fund Management today uses the active and passive way to construct a portfolio. Exchange Traded Funds (ETFs) are cheap instruments to cover the passive managed part of the investment. ETFs exist for stock-, bond- and commodity markets. In most cases the underlying of an ETF is an Index. Besides...

According to Kaldor (1970), regional growth patterns arise from a cumulative causation process as broadly combining two substantial mechanisms i.e. a productivity regime, known as the “Kaldor-Verdoorn” law, and a demand regime due to the expansion of exportations. This paper attempts to...

An ageing population is prompting the reform of pension systems. The Spanish pension system has undergone two consecutive reforms and a third one is currently being taking into consideration. All three involve the lengthening of the period used to calculate the size of pensions. This paper...