We consider a number of individual, discrete consumers, deciding their location on Hotelling's line in a non-cooperative way. Agglomeration emerges as a non-cooperative equilibrium, implying high transportation costs. No restriction is required concerning the functional forrn of transport costs...

The Bulow et al. [1985] framework is explored assuming demand and/or production relations. A multiproduct firm is assumed to have a single product rival in one of the two submarkets in which it participates. In the case of linear demand and cost functions, the direct and the strategic effects of...

Este artículo trata el problema de cómo la competencia oligopolística es afectada por el desarrollo de las tecnologías que utilizan energías renovables dentro del marco de reducción de emisiones de CO2 y seguridad en el mercado eléctrico. En un modelo oligopolístico donde las empresas...

In a previous work, Forner and Marhuenda (2001) find that the contrarian strategy, thatis, the forming of a zero-investment portfolio that buys the stocks that have performed poorly inthe past (losers) and sells those that have performed well (winners), does not yield abnormallypositive returns...

In our study we focus on the determinants of reputation and, in particular, on the relation between the quality of annual report disclosures of companies and their reputation. We try to bring together two strands of literature: the literature on corporate reputation and the literature on...

The management of a life insurance portfolio or pension fund must take intoaccount the temporal evolution of its liabilities and its assets through some variables:the factors and returns. Their behaviour is analysed statistically and we deduce it to avector error correction model (VECM). Using...

This study puts forward a procedure for assessing the results of television advertising media plans. It innovates by requiring only information on audience figures for the television media, to determine the distribution of exposures generated by plans using multiple media vehicles and multiple...

This paper analyzes, using a binomial logit model, the factors that determine a students decision on a three or four year University career. The microeconomic model we consider includes the most important aspects of educational choices. The results show how social background, family earnings and...

In this paper, we explore two of the most relevant theories that explain financial policy in small and medium enterprises (SMEs): pecking order theory and trade-off theory. Panel data methodology is used to test the empirical hypotheses over a sample of 6482 Spanish SMEs during the five-year...

This paper investigates the relationship between board of directors¿characteristics and firm value. We find a positive relationship between board ofdirectors¿ shareholdings and Tobin¿s Q. Endogenous treatment of these variables alsoreveals a positive relationship between Tobin¿s Q and board...