European Research on Management and Business Economics最新文献_第3页

The effect of financial constraints on accounting restatements: Spanish evidence 财务限制对会计重述的影响：西班牙的证据

IF 5.8 3区管理学

European Research on Management and Business Economics Pub Date : 2024-04-17 DOI: 10.1016/j.iedeen.2024.100244

Cristina Martínez-Sola, Sonia Sanabria-García, Pascual Garrido-Miralles

{"title":"The effect of financial constraints on accounting restatements: Spanish evidence","authors":"Cristina Martínez-Sola, Sonia Sanabria-García, Pascual Garrido-Miralles","doi":"10.1016/j.iedeen.2024.100244","DOIUrl":"https://doi.org/10.1016/j.iedeen.2024.100244","url":null,"abstract":"<div><p>This paper studies the effect of financial constraints and financial distress on accounting restatements; specifically, we empirically analyse whether several firm-specific characteristics—namely, the level of leverage, the cost of debt, and the interest coverage ratio—influence the likelihood of an accounting restatement. To do so, we use a sample of Spanish listed companies in the period from 2000 to 2017. The results show that the level and cost of debt and financial distress are associated with a higher incidence of accounting restatements. Our evidence is consistent with the argument that financially constrained firms—that is, firms with higher levels of leverage, especially in the short-term, facing a higher cost of debt—and financially distressed firms probably engage in more aggressive accounting practices or opportunistic reporting to clean up their financial statements, leading to an increase in accounting restatements. Financially constrained firms could be motivated to manage financial statements in order to prevent a debt covenant violation, obtain new financing or obtain financing at a lower cost. In the case of financially distressed firms, the motivation could be to prevent bankruptcy costs. The findings are consistent with previous literature, which has shown that firms employ accounting restatement as an instrument for earnings management.</p></div>","PeriodicalId":45796,"journal":{"name":"European Research on Management and Business Economics","volume":"30 2","pages":"Article 100244"},"PeriodicalIF":5.8,"publicationDate":"2024-04-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2444883424000044/pdfft?md5=124b959d1725f22231e4f2ea66f552c0&pid=1-s2.0-S2444883424000044-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140605105","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Innovation Strategies and Technical Efficiency 创新战略和技术效率

IF 5.8 3区管理学

European Research on Management and Business Economics Pub Date : 2024-03-21 DOI: 10.1016/j.iedeen.2024.100243

Jennifer González-Blanco, María del Mar Rodríguez-Domínguez, Manuel Guisado-González

{"title":"Innovation Strategies and Technical Efficiency","authors":"Jennifer González-Blanco, María del Mar Rodríguez-Domínguez, Manuel Guisado-González","doi":"10.1016/j.iedeen.2024.100243","DOIUrl":"https://doi.org/10.1016/j.iedeen.2024.100243","url":null,"abstract":"<div><p>In the innovation literature, little attention has been paid to technical efficiency as a measure of performance, despite the fact that technical efficiency is key to explaining firm productivity. In this study we analyze the influence of internal R&D, external R&D and R&D cooperation on the technical efficiency of the firm. The data used come from the Panel de Innovación Tecnológica 2016 for Spanish companies, from whose database we have selected the set of innovative manufacturing firms. To estimate the coefficients of interest we have constructed a knowledge production function, estimated using Stochastic Frontier Analysis (SFA) and the Heckman correction. The results indicate that both internal R&D and R&D cooperation have a positive and significant influence on technical efficiency, while external R&D has a significant negative relationship. Knowing this type of information in advance is very important for business managers and policy makers, since it facilitates decision-making on innovation strategies, as well as the formulation of public policies to support innovation leading to an efficient allocation of public resources.</p></div>","PeriodicalId":45796,"journal":{"name":"European Research on Management and Business Economics","volume":"30 2","pages":"Article 100243"},"PeriodicalIF":5.8,"publicationDate":"2024-03-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2444883424000032/pdfft?md5=31083d12a2ac2a0da281c3b11591fc6b&pid=1-s2.0-S2444883424000032-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140186955","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Innovation as a driving force for the creation of sustainable value derived from CSR: An integrated perspective 创新是企业社会责任创造可持续价值的驱动力：综合视角

IF 5.8 3区管理学

European Research on Management and Business Economics Pub Date : 2024-01-01 DOI: 10.1016/j.iedeen.2024.100241

Esther Poveda-Pareja, Bartolomé Marco-Lajara, Mercedes Úbeda-García, Encarnación Manresa-Marhuenda

{"title":"Innovation as a driving force for the creation of sustainable value derived from CSR: An integrated perspective","authors":"Esther Poveda-Pareja, Bartolomé Marco-Lajara, Mercedes Úbeda-García, Encarnación Manresa-Marhuenda","doi":"10.1016/j.iedeen.2024.100241","DOIUrl":"https://doi.org/10.1016/j.iedeen.2024.100241","url":null,"abstract":"<div><p>Coastal tourism is deep into a dichotomy between its potential to provide a wide range of social and natural benefits, and its traditional link to mass models, provoking a profound debate around the generation of negative externalities. This study examines the role of innovation and strategic corporate social responsibility orientation in the relationship between CSR and corporate performance to determine the mechanisms that underlie this main relationship. To this end, a sample of 202 hotels on the Spanish coast is analysed by applying the Partial Least Square Methodology. Useful results are derived from the empirical testing of the theoretical model, such as the existence of a positive direct effect between CSR and hotel performance. Likewise, we shed light on the mediating role of innovation and the moderating effect of a strategic CSR orientation in the main relationship, providing valid solutions for both academics and managers of coastal hotels, in terms of adopting CSR practices and promoting its integration into the core business of the hotel, and further developing innovations that will boost the benefits derived from their responsible practices, as well as their strengths to overcome the barriers traditionally faced when carrying out CSR strategies.</p></div>","PeriodicalId":45796,"journal":{"name":"European Research on Management and Business Economics","volume":"30 1","pages":"Article 100241"},"PeriodicalIF":5.8,"publicationDate":"2024-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2444883424000019/pdfft?md5=a264e29954bc0b7f56068d3d4b2ab50f&pid=1-s2.0-S2444883424000019-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139733217","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

The transformation of the automotive industry toward electrification and its impact on global value chains: Inter-plant competition, employment, and supply chains 汽车工业向电气化转型及其对全球价值链的影响：工厂间竞争、就业和供应链

IF 5.8 3区管理学

European Research on Management and Business Economics Pub Date : 2024-01-01 DOI: 10.1016/j.iedeen.2024.100242

Mario Rísquez Ramos, María Eugenia Ruiz-Gálvez

{"title":"The transformation of the automotive industry toward electrification and its impact on global value chains: Inter-plant competition, employment, and supply chains","authors":"Mario Rísquez Ramos, María Eugenia Ruiz-Gálvez","doi":"10.1016/j.iedeen.2024.100242","DOIUrl":"https://doi.org/10.1016/j.iedeen.2024.100242","url":null,"abstract":"<div><p>The automotive industry is undergoing a profound transformation in its transition to production of electric vehicles. This paper seeks to examine the main transformations taking place in global value chains in the automotive industry as a result of this transition. The analysis follows a multiple case study methodology based on a theoretical approach that seeks to address the research question and purpose.</p><p>The main findings of this research focus on three dimensions of GVCs. First, this transition increases competition among assembly plants at the intra-group level for the awarding of new models. Second, it continues to reconfigure supply chains, threatening the viability of certain traditional providers of components and giving rise to new players – battery manufacturers – that may challenge the chain hierarchy. Third, the transition to electric vehicles has led to a reduction in employment volume in the chain as a whole. Because the transition is ongoing, it will continue to pose significant challenges for multiple actors involved in the automotive industry.</p></div>","PeriodicalId":45796,"journal":{"name":"European Research on Management and Business Economics","volume":"30 1","pages":"Article 100242"},"PeriodicalIF":5.8,"publicationDate":"2024-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2444883424000020/pdfft?md5=08552e6cdf6b6017c37f84095b6fefa5&pid=1-s2.0-S2444883424000020-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139935366","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Evolution of scientific production on urban passenger transport: A bibliometric analysis 城市客运科学成果的演变：文献计量分析

IF 5.8 3区管理学

European Research on Management and Business Economics Pub Date : 2024-01-01 DOI: 10.1016/j.iedeen.2023.100239

Domingo Verano-Tacoronte , Sandra Flores-Ureba , Margarita Mesa-Mendoza , Virginia Llorente-Muñoz

{"title":"Evolution of scientific production on urban passenger transport: A bibliometric analysis","authors":"Domingo Verano-Tacoronte , Sandra Flores-Ureba , Margarita Mesa-Mendoza , Virginia Llorente-Muñoz","doi":"10.1016/j.iedeen.2023.100239","DOIUrl":"https://doi.org/10.1016/j.iedeen.2023.100239","url":null,"abstract":"<div><p>Urban passenger transport is a key point in the progress of any city. It is a strategic area whose efficient and sustainable development requires the incorporation of multiple disciplines. It affects territorial, social, health, economic, and environmental policies, among others. In recent years, we have witnessed a series of changes, especially in the domains of technology and environmental issues. The interdisciplinary nature of transport together with these developments has produced fundamental and far-reaching changes in the scientific production related to this field of study which is difficult to cover in a traditional review of the literature. The aim of this work is thus to conduct a bibliometric analysis of urban passenger transport during the period 2001–2021, which illustrates the advances made during this period and stimulate new research in this field. SciMAT software was used for this purpose. The results show the conceptual evolution of urban passenger transport research, identifying seven main thematic areas: (1) health and physical activity, (2) travel, (3) transport policy, (4) air pollution, (5) congestion, (6) social exclusion, and (7) electric and autonomous vehicles.</p></div>","PeriodicalId":45796,"journal":{"name":"European Research on Management and Business Economics","volume":"30 1","pages":"Article 100239"},"PeriodicalIF":5.8,"publicationDate":"2024-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2444883423000244/pdfft?md5=ba5f26080b7860b820d6eac055275e96&pid=1-s2.0-S2444883423000244-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139433449","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Recommend or not: A comparative analysis of customer reviews to uncover factors influencing explicit online recommendation behavior in peer-to-peer accommodation 推荐与否：通过对顾客评论的比较分析，发现影响点对点住宿中明确在线推荐行为的因素

IF 5.8 3区管理学

European Research on Management and Business Economics Pub Date : 2024-01-01 DOI: 10.1016/j.iedeen.2023.100236

Kai Ding , Xi Yun Gong , Tao Huang , Wei Chong Choo

{"title":"Recommend or not: A comparative analysis of customer reviews to uncover factors influencing explicit online recommendation behavior in peer-to-peer accommodation","authors":"Kai Ding , Xi Yun Gong , Tao Huang , Wei Chong Choo","doi":"10.1016/j.iedeen.2023.100236","DOIUrl":"https://doi.org/10.1016/j.iedeen.2023.100236","url":null,"abstract":"<div><p>In the fiercely competitive landscape of the peer-to-peer accommodation platform Airbnb, understanding customers’ online recommendation behavior is essential for optimizing competitiveness and harnessing the potential of electronic word-of-mouth. This study aims to provide comprehensive insights into the factors driving customers’ issuance of positive or negative recommendations based on their experiences. Leveraging 10,101 online reviews from Airbnb users, we employ the Structural Topic Model to determine latent topics relating to customers’ recommendation intentions. This study reveals that positive recommendations are primarily influenced by hedonic values tied to the overall experience, including crucial aspects such as convenience for exploring points of interest, local authenticity, social interaction, and emotional fulfillment. These findings highlight the significance of providing memorable and enriching experiences to elicit positive reviews from customers. On the other hand, negative recommendations are closely linked to utilitarian values focused on practical concerns such as check-in procedures, cleanliness, comfortableness, and amenities. Understanding these utilitarian factors is vital for hosts and platform administrators to improve service quality and address potential issues that may lead to negative reviews. Furthermore, this study emphasizes the significant role of hosts in shaping both positive and negative recommendations. This research contributes valuable insights to the field of peer-to-peer accommodation, highlighting the significance of various factors influencing customers’ recommendation behavior.</p></div>","PeriodicalId":45796,"journal":{"name":"European Research on Management and Business Economics","volume":"30 1","pages":"Article 100236"},"PeriodicalIF":5.8,"publicationDate":"2024-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2444883423000232/pdfft?md5=71e3da9f206a5cf3c22f5b6a05606197&pid=1-s2.0-S2444883423000232-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139100635","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Impact of Industry 4.0 and circular economy on lean culture and leadership: Assessing digital green lean as a new concept 工业4.0和循环经济对精益文化和领导力的影响:评估数字绿色精益作为一个新概念

IF 5.8 3区管理学

European Research on Management and Business Economics Pub Date : 2023-11-25 DOI: 10.1016/j.iedeen.2023.100232

Ignacio S. Gatell, Lucia Avella

{"title":"Impact of Industry 4.0 and circular economy on lean culture and leadership: Assessing digital green lean as a new concept","authors":"Ignacio S. Gatell, Lucia Avella","doi":"10.1016/j.iedeen.2023.100232","DOIUrl":"https://doi.org/10.1016/j.iedeen.2023.100232","url":null,"abstract":"<div><p>This paper aims to investigate the impact of Industry 4.0 and Circular Economy on Lean Leadership and Lean Culture, providing insights into how Lean Manufacturing companies can adapt their leadership and culture styles to succeed in the new business environment. We have conducted a systematic literature review focusing on the impact of Industry 4.0 and Circular Economy on Lean Leadership and Lean Culture, and our principal findings are that Implementing Industry 4.0 and Circular Economy requires changes in Lean Leadership and Culture styles to incorporate sustainability and digital transformation. This study identified ten Lean Culture characteristics classified in three groups values and principles (culture of respect, collectivism, power distance and authority distribution), customer centric (customer orientation and performance orientation) and operational excellence (receptiveness, working conditions, problem solving culture and continuous improvement and innovation) and nineteen Lean Leadership competences grouped in three categories customer oriented (customer focus, customer and supplier development and teamworking), personal development (personal stability, personal behavior, human centric, self-developing and learning, empowerment, self-transcendence and servant leadership), Lean principles (experimental, continuous improvement and innovation, zero-defects, process and lean expertise, problem solving and genchi genbutsu) and performance driven (targets settings, targets deployment and flow) that are necessary for successful implementation of Industry 4.0 and Circular Economy in Lean Manufacturing companies.</p></div>","PeriodicalId":45796,"journal":{"name":"European Research on Management and Business Economics","volume":"30 1","pages":"Article 100232"},"PeriodicalIF":5.8,"publicationDate":"2023-11-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2444883423000190/pdfft?md5=110f6dd1b84fdfd8600e0456e96f1dd5&pid=1-s2.0-S2444883423000190-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138436541","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Are you adopting artificial intelligence products? Social-demographic factors to explain customer acceptance 你在采用人工智能产品吗？解释客户接受度的社会人口统计因素

IF 5.8 3区管理学

European Research on Management and Business Economics Pub Date : 2023-09-01 DOI: 10.1016/j.iedeen.2023.100223

Mariano Méndez-Suárez , Abel Monfort , Jose-Luis Hervas-Oliver

{"title":"Are you adopting artificial intelligence products? Social-demographic factors to explain customer acceptance","authors":"Mariano Méndez-Suárez , Abel Monfort , Jose-Luis Hervas-Oliver","doi":"10.1016/j.iedeen.2023.100223","DOIUrl":"https://doi.org/10.1016/j.iedeen.2023.100223","url":null,"abstract":"<div><p>Are consumers accepting AI-based products? What are the socio-demographics influencing the adoption of these products? This study tests the potential users’ social-demographic characteristics that influence the relationship between innovation and AI-based products. The latter are robots (e.g. <em>chatbots</em>) and AI (e.g. recommendation systems, amongst others). A mixed methods approach is adopted using both qualitative and quantitative analysis with non-metrical multidimensional scaling (NMDS) to map opinions about digitally-intensive products, such as robots and AI, and the attitude towards innovation. The research uses data on the general population from the Spanish innovation barometer survey (<em>N</em> = 3,005). Findings show that individuals who have a negative attitude towards innovation have a negative opinion about robots and AI. As regards social-demographic dimensions, age and economic conditions moderate this effect, causing a more positive opinion towards digitally-intensive products amongst young people and individuals with a higher socio-economic level. These effects are increased by the moderating role of sex.</p></div>","PeriodicalId":45796,"journal":{"name":"European Research on Management and Business Economics","volume":"29 3","pages":"Article 100223"},"PeriodicalIF":5.8,"publicationDate":"2023-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"50204817","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

The competition between legal and illegal firms in the market: Theoretical models and empirical evidence 合法和非法公司在市场上的竞争:理论模型和经验证据

IF 5.8 3区管理学

European Research on Management and Business Economics Pub Date : 2023-09-01 DOI: 10.1016/j.iedeen.2023.100228

Domenico Marino , Francesco Timpano , Jaime Gil Lafuente

{"title":"The competition between legal and illegal firms in the market: Theoretical models and empirical evidence","authors":"Domenico Marino , Francesco Timpano , Jaime Gil Lafuente","doi":"10.1016/j.iedeen.2023.100228","DOIUrl":"https://doi.org/10.1016/j.iedeen.2023.100228","url":null,"abstract":"<div><p>The main aim of this paper is to study the phenomenon of the coexistence of firms with illegal characteristics and firms showing legal behaviour in developed economies by using an evolutionary competition model known as the Lotka-Volterra equations. Enterprises in a ‘legal system’ obey the extant laws, particularly market rules, while enterprises in an ‘illegal system’ disregard them. Illegal enterprises have a competitive advantage over legal enterprises, yet they cannot survive if legal enterprises disappear completely. The numerical solution of the Lotka-Volterra equations are used to show how there can be a situation of coexistence between legal and illegal enterprises and how state intervention can help reduce illegality in an economic system. This paper outlines a new approach to address the problem of coexistence because it uses non-linear and evolutionary tools to define the competition between legal and illegal firms. The research gap presented in this paper is addressed using the predator-prey scheme to model the competition between legal and illegal firms, which is perceived as the competition between two populations with different fitness levels (survival probabilities). This competition gives rise to three different types of possible equilibrium outcomes: survival of only legal firms, survival of only illegal firms and coexistence of these two types of firms. An empirical analysis of an Italian case study confirms the results of this paper's theoretical model.</p></div>","PeriodicalId":45796,"journal":{"name":"European Research on Management and Business Economics","volume":"29 3","pages":"Article 100228"},"PeriodicalIF":5.8,"publicationDate":"2023-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2444883423000153/pdfft?md5=e97237737e690afc1a18e96e7a7a0f59&pid=1-s2.0-S2444883423000153-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"91964118","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Board of directors and firm debt in Spanish SMEs: A power perspective 西班牙中小企业董事会与企业债务:权力视角

IF 5.8 3区管理学

European Research on Management and Business Economics Pub Date : 2023-09-01 DOI: 10.1016/j.iedeen.2023.100231

Juan Francisco Martín-Ugedo, Antonio Mínguez-Vera

{"title":"Board of directors and firm debt in Spanish SMEs: A power perspective","authors":"Juan Francisco Martín-Ugedo, Antonio Mínguez-Vera","doi":"10.1016/j.iedeen.2023.100231","DOIUrl":"https://doi.org/10.1016/j.iedeen.2023.100231","url":null,"abstract":"<div><p>This manuscript examines the influence of some variables relating to boards of directors that we consider to be proxies for power (gender diversity, duality, board size and insider ownership). Their influence on firm debt is explored. The sample examined, Spanish non-financial SMEs, has some particular characteristics. Share ownership, which is usually highly concentrated in the Civil Law context, is even more concentrated when we focus on SMEs. As a consequence, there is little separation between ownership and control. We have employed a power perspective as the main theoretical framework. Data were obtained from the SABI database, and the methodology employed is a panel data, applying the System GMM technique. This methodology makes it possible to control for endogeneity and individual heterogeneity. The results show that a larger proportion of female directors, larger boards, the separation of the roles of CEO and Chairman, and more shares owned by directors and by the CEO stimulate a decrease in firm debt. This evidence supports the hypotheses tested.</p></div>","PeriodicalId":45796,"journal":{"name":"European Research on Management and Business Economics","volume":"29 3","pages":"Article 100231"},"PeriodicalIF":5.8,"publicationDate":"2023-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2444883423000189/pdfft?md5=c813614673a3440dc67d7feab635dbe5&pid=1-s2.0-S2444883423000189-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"92026368","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0