This paper examines the (a)symmetry of twenty-four individual stock returns at different frequencies: daily, weekly and monthly. While some asymmetries are observed in daily returns, they disappear almost completely at lower frequencies. The explanation for this fact lies in the convergence to...

This paper examines the relationships between socioeconomic conditions and happiness or satisfaction of individuals in 15 countries. In agreement with earlier studies, age, health and marital status are strongly associated with happiness and satisfaction. In seeming contrast with other studies,...

This article analyzes the way in which intemational stock markets transmit information around the world. We are able to decompose the influenced of one market on another one in two elements: the capability of one market to exercise influence on any other market and the sensitivity of every...

This paper shows the MCI model of Nakanishi and Cooper (1974) in detail, pointing out some of its limitations. Subsequently it applies this model to four zones of the Spanish geography to deterrninate the commercial areas. En este trabajo se expone detalladamente el modelo MCI de Nakanishi y...

This paper examines the existence of common movements in production, prices and interest rates in three countries: France, Germany and the United Kingdom. To analyse this issue, the usual approach of studying cross-correlations is extended. Though these European countries are closely linked to...

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...

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 analyses the role of firms' R&D-experience in their innovative success using a representative sample of Spanish firms for the period 1990-2002. Using count data models and within an innovation production function approach, we investigate the influence of firms' R&D-experience in the...

This paper analyzes the dynamics of cost efficiency scores in the Spanish banking industry during the period 1985-1995 and asks how such dynamics are influenced by specialization. Efficiency has been estimated through a nonparametric approach, and a model of distributions dynamics has been...