Papers by Alfonso A Rojo Ramírez
This article investigates the conceptual evolution of qualitative research in the field of energy... more This article investigates the conceptual evolution of qualitative research in the field of energy and fuel focus on oil and gas research from 1990 to 2018 identifying the main topics and practical applications which it has been used. The automatic approach was based on a co-word analysis and combines performance analysis and science mapping. The considerable number of studies published according to the journals in energy and fuel field focus on oil and gas research indexed in ISI Web of Science makes it possible to undertake a conceptual analysis of how the field has evolved. To observe the conceptual evolution of energy and fuel, we define three consecutive periods:
RESUMEN La valoración de empresas, tradicionalmente, no ha recibido una atención prioritaria en e... more RESUMEN La valoración de empresas, tradicionalmente, no ha recibido una atención prioritaria en el campo de la investigación empírica. En la actualidad se aprecia un importante desarrollo profesional que demanda información sobre la aplicación práctica de los fundamentos metodológicos de la valoración de empresas. En general los estudios empíricos a nivel internacional revelan divergencias entre la teoría y la práctica en diferentes aspectos del proceso valorativo. 914 ARTÍCULOS DOCTRINALES Alfonso A. Rojo Ramírez y Domingo García Pérez de Lema La Valoración de Empresas en España: un estudio empírico (1) «Existen muy pocos países de la OCDE que incluyan estadísticas sobre fusiones y adquisiciones dentro de sus datos oficiales» [FMI, 2004]. Para España puede verse el informe de KPMG [2004]. (2) En la actualidad denominada «Asociación Profesional de Sociedades de Valoración» [www.atasa.com]. ARTÍCULOS DOCTRINALES 915 Alfonso A. Rojo Ramírez y Domingo García Pérez de Lema La Valoración de Empresas en España: un estudio empírico (3) El concepto de valor económico es utilizado aquí en su sentido concreto, esto es, el valor intrínseco del bien o valor sustancial.
Technological and Economic Development of Economy
This paper examines the relationship between R&D collaboration breadth and innovation efficiency ... more This paper examines the relationship between R&D collaboration breadth and innovation efficiency within family firms. Based on the socioemotional wealth approach and recognising that family firms constitute a rather heterogeneous group, we study family firms’ differences in the way of addressing the R&D collaboration breadth-innovation efficiency link, taking into account family management and the generational stage. Using a panel dataset of 424 manufacturing family firms during the 2007–2016 period, we find significant differences across family firms in the translation of gains from R&D collaboration breadth into innovation efficiency. Specifically, our findings reveal that family firms with higher levels of family management and in first generational stage weaken the R&D collaboration breadth – innovation efficiency link.
Academia Revista Latinoamericana de Administración
PurposeThe relationship between risk and return has been widely analysed in the scope of listed c... more PurposeThe relationship between risk and return has been widely analysed in the scope of listed companies. However the present literature leaves uncovered an important study area with regards to privately held firms. In order to cover this gap, this study analyses the risk-return trade-off in the context of private enterprises. Furthermore, the authors incorporate the contingent effect of being a family firm on the abovementioned relationship.Design/methodology/approachUsing information from the SABI (Sistema de Análisis de Balances Ibéricos) database, a sample of 2,297 private manufacturing firms were analysed for the period of 2009–2016. So as to ascertain the proposed hypotheses, dynamic panel data methodology was applied. Specifically, the authors estimated the two-step general method of moments (GMM).FindingsThe obtained findings reveal that, according to prospect theory arguments, privately held firms adopt a conservative attitude toward risk when results are higher than a tar...
Agriculture, 2021
This article aims to explore the perceptions of banana farms managers towards environmental susta... more This article aims to explore the perceptions of banana farms managers towards environmental sustainability practices through the impact of innovation, adoption of information systems, and training employees through a case study in the province of El Oro (Ecuador). Furthermore, the paper assesses how farmers’ perceptions could guide public policy incentives. PLS-Structural Equation Modeling are used as the framework by which the constructs is represented within the model. The model explained 59% of the environmental sustainability practices of Ecuadorian banana farms. The results indicate that environmental sustainability practices were positively influenced mainly by training employees, innovation, and adoption of information systems. Additionally, both the adoption of information systems and training employees indirectly influenced sustainable practices through innovation as a mediator. We may conclude that in the Ecuadorian banana farms, changes in environmental practices are deri...
Small Business Economics, 2018
By taking insights from the behavioral theory, this study analyzes how performing below aspiratio... more By taking insights from the behavioral theory, this study analyzes how performing below aspiration levels influences innovation efficiency. Furthermore, this research analyzes whether firms respond differently to performance pressures depending on certain factors at the organizational level, such as financial slack and family management. Conducting a panel data analysis on 3116 observations of Spanish manufacturing firms over the 2001-2013 period, we find that performing below aspiration levels improves the firm ' s conversion rate of innovation efficiency in both the short and the long term. Furthermore, this study confirms that two contingencies, namely the levels of financial slack and family management, are quite relevant towards gaining a full understanding of the complex nuances associated with the investigated core relationship.
Family Business Review, 2016
The aim of this research is to study the moderating role of family management in the relationship... more The aim of this research is to study the moderating role of family management in the relationships between the intensity of research and development and the occurrence of continuous technological innovation and between the existence of technological innovation outcomes and long-term firm performance. The results show that family management reduces efficiency in the conversion of research and development expenses into technological innovation outcomes over time. Our findings also suggest that the influence of family management significantly contributes to improving the effect of the achievement of technological innovation on long-term performance.
Identifying and classifying family businesses
Review of Managerial Science, 2014
ABSTRACT One of the main challenges facing those researching family business is that of defining ... more ABSTRACT One of the main challenges facing those researching family business is that of defining what exactly constitutes a family business when considering whether family businesses and non-family businesses are different or not. Most research on the definition of family firms has been conceptual-based, and the choice of definition has lacked empirical support. Previous research has not yet obtained conclusive results regarding the differences between family and non-family firms. Moreover, very few countries worldwide have explicit database information to enable them to recognize family firms. This research uses an abductive method to identify family-involved firms (FIFs) with homogeneous features compared to the rest of firms regarding performance, an essential indicator of the firm’s success. Second and later generation FIFs, despite their internal differences, make up a uniform group of firms when considering several dimensions of performance (leverage, efficiency and profitability), and differ significantly from the rest of firms. At the same time we test whether entrepreneurial firms (lone- founder firms) should be considered family firms or non-family firms, according to their behavior. Results agree with making a distinction between lone-founder firms, in which no relatives are involved as internal stakeholders, and FIFs.
Estado de flujos de tesorería:¿ hacia una armonización europea?(Un estudio comparativo de diferentes normas europeas)
RESUMEN El objetivo de este trabajo es poner de manifiesto que, a pesar del esfuerzo armonizador ... more RESUMEN El objetivo de este trabajo es poner de manifiesto que, a pesar del esfuerzo armonizador a nivel europeo, y de la profusión de estudios y normas relativas al estado de flujos de tesorería, estamos todavía lejos de alcanzar una efectiva homogeneidad en la ...
Valoración, nueva economía y sistema contable
... Valoración, nueva economía y sistema contable. Autores: Alfonso Andrés Rojo Ramírez; Localiza... more ... Valoración, nueva economía y sistema contable. Autores: Alfonso Andrés Rojo Ramírez; Localización: AECA: Revista de la Asociación Española de Contabilidad y Administración de Empresas, ISSN 1577-2403, Nº 53, 2000 , págs. 3-7. Fundación Dialnet. ...
Sustainability, 2019
The aim of this research is to explore the effect that innovation, as a potential source of susta... more The aim of this research is to explore the effect that innovation, as a potential source of sustained competitive advantage and firm growth, has on the achievement of sustainable economic performance. In particular, this paper empirically examines the influence of four innovation forms (intramural R&D, extramural R&D, product innovation, and process innovation) on firms’ sustainable economic performance, considering the moderating effect of family involvement in management. To test the hypotheses, random-effects regression analyses are applied to a longitudinal sample of 598 Spanish private manufacturing firms throughout the 2006–2015 period. The results show a negative effect of intramural and extramural R&D on sustainable economic performance and a positive effect of process innovation on sustainable economic performance. Moreover, a reinforced relationship between process innovation and sustainable economic performance is also revealed when family involvement in management acts a...
Aproximación al capital intelectual de las empresas
Revista madri+d. Monografía: revista de investigación en gestión de la innovación y tecnología, 2003
Biblioteca de la Universidad Complutense de Madrid, Base de datos de artículos de revistas, ...
La inscripción de las Cuentas Anuales en el Registro Mercantil (1993)
Técnica contable, 1994
Biblioteca de la Universidad Complutense de Madrid, Base de datos de artículos de revistas, ...
Elaboración y depósito de las cuentas anuales (1996)
Técnica contable, 1997
Información del artículo Elaboración y depósito de las cuentas anuales (1996).
Combinaciones de empresas:: cómo contabilizarlas
Técnica contable, 1986
Fair value' o 'value first
AECA: Revista de la Asociación Española de Contabilidad y Administración de Empresas, 2011
ABSTRACT This paper shows how economic value, fair market value and price are something different.
La transición al euro de la contabilidad de las empresas
Partida doble, 2001
En el presente trabajo se analiza el tratamiento contable relativo a las inversiones y gastos der... more En el presente trabajo se analiza el tratamiento contable relativo a las inversiones y gastos derivados de la introducción del euro, así como el momento y las reglas a aplicar para realizar la conversión de las cifras a euros, todo ello acompañado de varios ejemplos ...
Cuadernos Unimetanos, 2006
/ cuadernos unimetanos 9 / diciemBre 2006 Conceptos Básicos una opción es un derecho a tomar una ... more / cuadernos unimetanos 9 / diciemBre 2006 Conceptos Básicos una opción es un derecho a tomar una acción en el futuro. Por ejemplo, una opción sobre una acción es un contrato que le da al comprador la oportunidad de comprar una acción a un precio fijo en una fecha determinada, si el precio de la acción supera el precio de ejercicio de la opción. del mismo modo, muchas inversiones estratégicas crean nuevas oportunidades que pueden ser aprovechadas por los gerentes y así, las oportunidades de inversión pueden verse como una corriente de flujo de caja más un conjunto de opciones reales. de esta manera, en una primera aproximación, las opciones sobre activos reales son una extensión de las opciones sobre activos financieros. el paso de las opciones financieras a las opciones reales implica incluir la disciplina de los mercados financieros a las decisiones estratégicas de inversión. de acuerdo con amran y Kulatilaka (2000), el enfoque de las opciones reales tiene tres componentes que pueden ser de gran utilidad para los directivos de las empresas: i) las opciones son decisiones contingentes, es decir, dependen del desarrollo de los acontecimientos y esto significa que el flujo de caja cambia con la decisión. ii) la valoración de las opciones reales es consistente con las valoraciones en los mercados financieros, utilizando los conceptos y técnicas financieras para valorar todo tipo de activos reales iii) el enfoque las opciones reales permite a los directivos identificar, valorar, rediseñar y gerenciar las inversiones estratégicas proactivamente. desde el punto de vista tradicional, a mayor incertidumbre menor es el valor de los activos. en la perspectiva de las opciones reales, la incertidumbre crea oportunidades y flexibiliza las posibles respuestas a los eventos futuros, incrementando el valor de los activos. de esta manera, el factor clave del valor de una opción reside en la volatilidad de los retornos de los activos (reales o financieros) subyacentes. OpciOnes Reales Un nuevo paradigma en las decisiones de inversión UnIversIdad de almería dePartamento de dIreccIón y gestIón de emPresas ProGrama de doctorado InvestIgacIón en economía de la emPresa traBaJo de InvestIgacIón tUtelado autor JavIer ríos valledePaz decanato de ciencias y artes director dr. alfonso roJo cuadernos unimetanos 9 / diciemBre 2006 /
Valoración de opciones reales no-replicables. El caso de una opción de expansión
Page 1. SALA ANTONIO JOSÉ CAVANILLES SESIÓN III Jueves, 20 [16,00 17,30] VALORACIÓN DE OPCI... more Page 1. SALA ANTONIO JOSÉ CAVANILLES SESIÓN III Jueves, 20 [16,00 17,30] VALORACIÓN DE OPCIONES REALES NO-REPLICABLES. EL CASO DE UNA OPCIÓN DE EXPANSIÓN Javier M. Ríos Valledepaz Profesor de Finanzas e Ingeniería Económica ...
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Papers by Alfonso A Rojo Ramírez