Departamento Administración y Economía de la Empresa

Managing Money, Managing Work: How Financial Health and Personal Resources Drive Job Performance

2026-03-26T04:12:55Z

[EN] This work aims to understand how individual financial health impacts job performance. It is well known that financial health influences individual behavior, affecting workers, organizations, and economic development. However, its positive and negative aspects (financial well-being and stress) have distinct effects on individuals. To date, the mechanism through which both facets influence job performance lacks a cohesive theoretical framework and has been understudied in the fields of human resource management and organizational behavior. To achieve our research objectives, we integrated three resource theories, presenting a framework in which personal resources are key to clarifying the connections between financial health and job performance. We then explored the effects of financial well-being and stress on four dimensions of job performance (task performance, organizational citizenship, counterproductive behaviors, and adaptive performance), covering a broad set of workplace behaviors. We presented four models for empirical testing, each addressing how financial well-being and stress, associated with three personal resources (psychological capital, time management, and work engagement), influenced dimensions of job performance. To measure the variables, we applied nine scales originally developed in English. Most lacked a validated translation to Brazilian Portuguese, which we provided for this work. Subsequently, we collected data from workers at a public financial institution in Brazil, obtaining a sample of 909 responses. We used structural equation modeling to test our hypotheses, which strongly support our findings. We found that personal resources mediated the effects of financial well-being on job performance, while the impact of financial stress was more direct. These results confirm that personal resources are a key element in the relationship between financial health and job performance, particularly in relation to financial well-being. We observed that financial well-being has a strong influence on psychological capital and time management, ultimately affecting all dimensions of job performance. Additionally, we discovered that financial well-being, financial stress, and the three personal resources distinctly influenced each dimension of job performance, clarifying pathways for managerial intervention. Furthermore, our findings empirically validated several relationships that previously lacked evidence and uncovered unexpected connections that warrant further investigation. This reinforced earlier findings, expanded the knowledge base, and extended the application of organizational behavior models. Our results demonstrated that our theoretical framework, with personal resources positioned at the center, provided strong support for elucidating the connection between financial health and job performance. The findings of this work were presented at major international conferences on management and were published or are under revision in top management journals (Appendices 1 and 2). Lastly, during the doctoral program, the researcher spent time at two research centers abroad, in Brazil and Portugal, to obtain the international doctorate designation (Appendix 3).; [ES] Este trabajo tiene como objetivo comprender cómo la salud financiera individual impacta en el desempeño laboral. Es bien sabido que la salud financiera influye en el comportamiento individual, afectando a los trabajadores, las organizaciones y el desarrollo económico. Sin embargo, sus dimensiones positiva y negativa (bienestar financiero y estrés financiero) tienen efectos distintos sobre las personas. Hasta la fecha, el mecanismo mediante el cual ambas facetas influyen en el desempeño laboral carece de un marco teórico cohesivo y ha sido poco estudiado en los campos de la gestión de recursos humanos y el comportamiento organizacional. Para alcanzar nuestros objetivos de investigación, integramos tres teorías de recursos, presentando un marco en el cual los recursos personales desempeñan un papel clave para esclarecer las conexiones entre la salud financiera y el desempeño laboral. Posteriormente, exploramos los efectos del bienestar financiero y del estrés financiero sobre cuatro dimensiones del desempeño laboral (desempeño en tareas, ciudadanía organizacional, comportamientos contraproducentes y desempeño adaptativo), abarcando un amplio conjunto de conductas en el entorno de trabajo. Presentamos cuatro modelos para su evaluación empírica, cada uno abordando cómo el bienestar financiero y el estrés financiero, asociados a tres recursos personales (capital psicológico, gestión del tiempo e implicación laboral), influyen en las dimensiones del desempeño laboral. Para medir las variables, aplicamos nueve escalas desarrolladas originalmente en inglés. La mayoría carecía de una traducción validada al portugués de Brasil, la cual fue proporcionada en el presente trabajo. Posteriormente, recolectamos datos de trabajadores de una institución financiera pública en Brasil. Obtuvimos una muestra de 909 respuestas y empleamos el modelado de ecuaciones estructurales para poner a prueba nuestras hipótesis, lo que respalda sólidamente nuestros hallazgos. Observamos que los recursos personales mediaran los efectos del bienestar financiero sobre el desempeño laboral, mientras que el impacto del estrés financiero fue más directo. Estos resultados confirman que los recursos personales son un elemento clave en la relación entre la salud financiera y el desempeño laboral, especialmente en lo que respecta al bienestar financiero. Se evidenció que el bienestar financiero influye notablemente en el capital psicológico y en la gestión del tiempo, afectando en última instancia todas las dimensiones del desempeño laboral. Además, descubrimos que el bienestar financiero, el estrés financiero y los tres recursos personales influyen de manera diferenciada en cada dimensión del desempeño, lo que permite aclarar vías específicas para la intervención desde la gestión. Asimismo, nuestros hallazgos validaron empíricamente diversas relaciones que previamente carecían de evidencia y revelaron conexiones inesperadas que merecen una investigación adicional. Esto reforzó descubrimientos anteriores, amplió la base de conocimiento y extendió la aplicación de modelos de comportamiento organizacional. Nuestros resultados demostraron que nuestro marco teórico, con los recursos personales situados en el centro, ofrece un respaldo sólido para esclarecer la relación entre la salud financiera y el desempeño laboral. Los resultados de este trabajo fueron presentados en los principales congresos internacionales de gestión y fueron publicados o se encuentran en proceso de revisión en revistas académicas de alto impacto en el ámbito de la gestión (Apéndices 1 y 2). Por último, durante el programa de doctorado, el investigador realizó estancias en dos centros de investigación en el extranjero, en Brasil y Portugal, con el fin de obtener la mención internacional del título de doctor (Apéndice 3).; [PT] Este trabalho tem como objetivo compreender de que maneira a saúde financeira individual impacta o desempenho no trabalho. É amplamente reconhecido que a saúde financeira influencia o comportamento individual, afetando trabalhadores, organizações e o desenvolvimento econômico. No entanto, suas dimensões positiva e negativa (bem-estar financeiro e estresse financeiro) exercem efeitos distintos sobre os indivíduos. Até o momento, o mecanismo pelo qual ambas as facetas influenciam o desempenho no trabalho carece de um arcabouço teórico coeso e tem sido pouco explorado nas áreas de gestão de recursos humanos e comportamento organizacional. Para atingir nossos objetivos de pesquisa, integramos três teorias baseadas em recursos, propondo um modelo em que os recursos pessoais ocupam uma posição central na elucidação das conexões entre saúde financeira e desempenho no trabalho. Em seguida, investigamos os efeitos do bemestar financeiro e do estresse financeiro sobre quatro dimensões do desempenho no trabalho (desempenho em tarefas, cidadania organizacional, comportamentos contraproducentes e desempenho adaptativo), abrangendo um amplo conjunto de comportamentos no ambiente organizacional. Foram apresentados quatro modelos para testes empíricos, cada um abordando como o bem-estar financeiro e o estresse financeiro, associados a três recursos pessoais (capital psicológico, gestão do tempo e engajamento no trabalho), influenciam as diferentes dimensões do desempenho laboral. Para mensurar as variáveis, utilizamos nove escalas originalmente desenvolvidas em inglês. A maioria delas não dispunha de tradução validada para o português brasileiro, a qual foi providenciada neste estudo. Posteriormente, coletamos dados de trabalhadores de uma instituição financeira pública no Brasil. Obtivemos uma amostra de 909 respostas e utilizamos a modelagem de equações estruturais para testar nossas hipóteses, o que conferiu robustez aos nossos achados. Verificamos que os recursos pessoais mediaram os efeitos do bem-estar financeiro sobre o desempenho no trabalho, ao passo que o impacto do estresse financeiro foi mais direto. Esses resultados confirmam que os recursos pessoais são um elemento-chave na relação entre saúde financeira e desempenho no trabalho, especialmente no que se refere ao bem-estar financeiro. Observamos que o bem-estar financeiro influencia fortemente o capital psicológico e a gestão do tempo, afetando, por conseguinte, todas as dimensões do desempenho. Adicionalmente, constatamos que o bem-estar financeiro, o estresse financeiro e os três recursos pessoais influenciam de forma distinta cada dimensão do desempenho no trabalho, esclarecendo caminhos potenciais para intervenções gerenciais. Ademais, nossos achados validaram empiricamente diversas relações que anteriormente careciam de evidência e revelaram conexões inesperadas que merecem investigação adicional. Isso reforçou descobertas anteriores, ampliou a base de conhecimento e estendeu a aplicação de modelos de comportamento organizacional. Nossos resultados demonstraram que nosso modelo teórico, com os recursos pessoais posicionados no centro, ofereceu suporte robusto para elucidar a conexão entre saúde financeira e desempenho no trabalho. Os resultados desta investigação foram apresentados nos principais congressos internacionais de gestão e foram publicados ou estão em processo de revisão em periódicos de alto impacto na área de gestão (Apêndices 1 e 2). Por fim, durante o programa de doutorado, o pesquisador realizou estâncias de pesquisa em dois centros no exterior, no Brasil e em Portugal, com o objetivo de obter a menção internacional no título de doutor (Apêndice 3).

Yearly evolution of police efficiency in Spain and explanatory factors

2026-03-10T01:02:41Z

This work aims to study the efficiency of Spanish police forces in the 2001–2006 period, using Data Envelopment Analysis (DEA). Several Malmquist indices are also estimated in order to detect and explain the dynamic variations in efficiency for each of the 52 Spanish provinces into which the territory of Spain is divided. To measure police efficiency, we have considered both solved crimes—those offences against property, public safety, the person, and sexual liberty and indemnity—and the number of police members. In addition, in order to avoid biases in the analysis, and according to the results of a truncated regression, we have considered several exogenous variables which negatively influence police efficiency, such as area, immigration rate and youth index. The findings obtained point out that the average police efficiency for the period analysed reaches 86%, showing optimal behaviour in 55% of the police stations analysed. Additionally, 45% of them increase their productivity yearly.

Relationship between police efficiency and crime rate: a worldwide approach

2026-03-10T01:02:40Z

This work aims to study the relationship between crime rate and police efficiency in a number of countries worldwide in the 1998–2006 period, controlling for other variables such as probability of being arrested, probability of being con- victed, population density, literacy rate, GDP per capita, unemployment rate and foreign direct investment. On average, police efficiency for the period studied is 84 %. The mean efficiency ratio ranges from 0.82 to 0.87. The upper limit corre- sponds to 2004, and the lower limit is found in the years 1998, 2000 and 2002. The results obtained show the inverse relationship between police efficiency and the crime rate while a direct relationship is obtained for the variable literacy. Similar findings were obtained in our robustness analysis, in which police efficiency neg- atively affects other measures of delinquency levels, such as the UN victimization survey variable.

Increasing Profitability and Monitoring Environmental Performance: A Case Study in the Agri-Food Industry through an Edge-IoT Platform

2026-03-10T01:02:38Z

[EN]Globalization has led to a new paradigm where the traditional industries, such as agriculture, employ vanguard technologies to broaden its possibilities into what is known as smart farming and the agri-food industry 4.0. This industry needs to adapt to the current market through an efficient use of resources while being environmentally friendly. The most commonly used approaches for analyzing efficiency and sustainability on farms are production efficiency based analyses, such as Data Envelopment Analysis and Stochastic Frontier Analysis, since they allow to see how efficient the outputs are generated regardless of the units of measurement of the inputs. This work presents a real scenario for making farms more profitable and sustainable through the analysis of the Data Envelopment Analysis and the application of the Internet of Things and Edge Computing. What makes this model interesting is that it allows monitoring the ambient conditions with real-time data from the different sensors that have been installed on the farm, minimizing costs and gaining robustness in the transmission of the data to the cloud with Edge Computing, and then to have a complete overview in terms of monthly resource efficiency through the Data Envelopment Analysis. The results show that including the costs of edge and non-edge data transfer have an impact on the efficiency. This small-scale study set the basis for a future test with many farms simultaneously.

Evaluation of the efficacy and effectiveness of the Spanish security forces

2026-03-10T01:02:39Z

This work aims to study the efficacy and effectiveness of Spanish police forces concerning major crimes—differentiating those against property, public safety, the person, and sexual liberty and indemnity—in the 2001–2006 period, using Data Envelopment Analysis (DEA). To study their efficacy we will consider both operational efficacy, defined as the ratio between solved crimes and tasks, and goals efficacy, intended to show the effect of operational efficacy on the level of crime in the subsequent year, which is measured by the annual variation in major crimes. The analysis of the effectiveness of Spanish police forces attempts to measure the impact of goals efficacy on how people perceive local security. To determine their effectiveness we will also consider the tourism variation index, population and economic activity and their influence on the variation in the number of crimes. The results show that the average operational effectiveness of police during the period analysed reaches 96%, with optimal behaviour in 19% of the stations analysed. Additionally, our findings show that the average goals effectiveness is 89% and the average effectiveness turns out to be 89%.

Exploring the benefits of photovoltaic non-optimal orientations in buildings

2026-03-10T01:02:36Z

As solar photovoltaics in buildings reaches maturity, grid integration and economic yield are topics of greater interest. The traditional design of photovoltaic installations has considered the optimal orientation of photovoltaic modules to be that which yields the maximum annual energy production. The influence of the consumption patterns and the hourly variable electricity prices implies that this traditional optimal design might not be the most profitable. Using a full-year dataset for a residential installation, alternative installations using canopies and modules attached to the façades are simulated. By evaluating the energy balances for different annual consumptions, it is found that the canopy and façade installations offer better self-consumption of the PV produced energy, reflected in a 9% higher self-consumption degree using modules on façades and a 5% higher self-consumption degree using canopies. The economic evaluation under the new electricity tariffs in Spain shows a better profit for PV self-consumption, reducing the time of return on investment by more than 2 years. The analysis of different alternatives for an industrial PV allowed us to identify several benefits for these orientations which are confirmed after a full year of operation, such as an increase of up to 59% in annual energy production over the optimal-producing orientation.

Demand charges reduction with photovoltaics in industry

2026-03-10T01:02:33Z

[EN]Demand charges are widely used for commercial and industrial consumers. These costs are often not well known, let alone the effects that PV can have on them. This work proposes a methodology to assess the effect of PV on reducing these charges and to optimise the power to be contracted, using techniques taken from exploratory data analysis. This methodology is applied to five case studies of industrial consumers from different sectors in Spain, finding savings between 5 % and 11 % of demand charges in industries with continuous operation and up to 28 % in cases of discontinuous operation. These savings can be even greater if the maximum power that can be contracted is lower than the optimum. The demand charges in Spain consist of a fixed part proportional to the contracted power and a variable part depending on the power peaks exceeding it. Since for the variable part the coincident and non-coincident models coexist, a comparison is made between the two models, finding that in the general case PV users can achieve higher savings with the coincident model.

Activos intangibles, últimas novedades contables en activos digitales

2026-03-10T01:02:31Z

[ES]En la actualidad estamos viviendo una época de cambios sustanciales derivados de la disrupción creada por las nuevas tecnologías. Muestra de esta situación la encontramos en la importancia creciente, especialmente en términos económicos, de lo que se ha denominado como “activos digitales”. Este artículo pretende ofrecer una visión realista de la situación actual desde el punto de vista tanto contable como de calificación jurídica de estos activos, con una especial referencia a los tokens no fungibles (NFTs), con la pretensión de incentivar el necesario debate sobre la pertinencia de que estas nuevas realidades se contemplen desde un enfoque pluridisciplinar.[EN]We are currently living in an era of substantial changes derived from the disruption created by new technologies. An example of this situation can be found in the growing importance, especially in economic terms, of the knows as “digital assets”. This article aims to offer a realistic view of the current situation from the point of view of both accounting and the legal classification of these assets, with special reference to non-fungible tokens (NFTs), with the purpose of encouraging the necessary debate on the relevance of considering these new realities from a multidisciplinary approach.

Effective Use of Elaborative Interrogation to Improve Academic Performance

2026-03-16T09:21:55Z

[EN]Study techniques most commonly used by students are usually the least effective for learning. Therefore, a sample of undergraduate students was trained in the use of Elaborative Interrogation (EI), a more powerful strategy. However, there are no clear guidelines on how to implement this technique, and there are contrasting results on its effectiveness. The present study aimed at analyzing the effectiveness of EI in undergraduate students performance. A pre-test post-test design was used with 3 within-participants conditions: control, self-generated EI, and externally-generated EI. The effects that training and type and quality of EI implementation had on students’ comprehension (at textbase and situation model levels) were investigated. Results suggest that the EI technique may be useful to improve undergraduates learning, but only in very specific situations. Otherwise, it may even hinder performance compared to traditional study techniques. Some insights are offered to better understand how the EI strategy works.

Gestión y mitigación del riesgo en universidades latinoamericanas: identificación de prácticas efectivas y factores determinantes

2026-03-08T04:02:48Z

[EN] The culture of risk management has evolved significantly in recent decades (Fan & Stevenson, 2018; Wicaksana et al., 2022; Khaw & Teoh, 2023), driven by an increasingly complex, globalized, and interconnected environment. Crises such as the 9/11 terrorist attacks, the 2008 financial collapse, the COVID-19 pandemic, and ongoing geopolitical tensions have underscored the vulnerability of organizations across all sectors and the urgent need to develop systematic capabilities for anticipating and mitigating risks. Higher education institutions (HEIs) are no exception. The university sector faces both general and domain-specific risks that threaten not only their financial stability and reputation but also their core missions of teaching, research, and knowledge transfer. Among these threats are the growing competition arising from the proliferation of public and private institutions and online programs (Shanahan & McParlane, 2005; Brewer & Walker, 2011; Wessels & Sandler, 2015), increasingly complex regulatory frameworks (Cameron & Klopper, 2015), external performance evaluations (Brewer & Walker, 2011), cyberattacks (Jesry et al., 2022), work-related stress (Kinman & Court, 2010), and pressures for self-financing in public universities (Huber, 2011; Stromquist, 2007). These challenges are especially pronounced in Latin America, where political and economic volatility and structural budgetary constraints add further complexity to governance and management (Arim, 2022; Espinosa et al., 2022). Although universities have long been exposed to risk, the growing scope and interdependence of these threats have brought university risk management to the forefront. This shift is reflected in the increasing academic attention to University Risk Management (Huber, 2011; Edwards, 2012; Cristopher & Sarens, 2015; Klochkova et al., 2017; Yokoyama, 2018; Syreyshchikova et al., 2020; Amuya & Kariuki, 2023; Khaw & Teoh, 2023). However, the field remains theoretically fragmented and empirically underdeveloped. While other sectors such as manufacturing or finance have established comprehensive frameworks for identifying and mitigating risks (Ho et al., 2015; Baryannis et al., 2019), universities still lack a consensual model for understanding and managing their specific vulnerabilities. Existing studies often focus on applying the traditional structure of risk management analysis—risk identification, risk assessment, and risk mitigation—to specific sources of risk such as technological failures, insufficient internationalization, or cybersecurity. As a result, they tend to propose isolated sets of mitigation and management practices without integrating them into a systemic framework that enables a holistic understanding and analysis of university risk management. Most contributions remain largely conceptual or are based on single-case studies, while empirical research involving large samples is still rare. Recent works have adopted a more comprehensive approach, offering well-structured literature reviews (e.g., Khaw & Teoh, 2023) that contribute to defining such a systemic framework. However, studies grounded in organizational theories that explain how different variables within this framework interact remain scarce. This dissertation aims to contribute to the growing body of literature on university risk management by pursuing two objectives: (1) to propose a set of management practices that effectively mitigate institutional risks and enhance resilience—conceptualized here as growth in student enrollment—and (2) to draw on institutional theory to identify internationalization as a key driver of university risk management. Conceptual Models and Analyses The research is structured into three studies. The first study addresses Objective (1). It identifies and classifies potential risks across the three core university processes— teaching, research, and knowledge transfer—and explores advanced management practices with the potential to mitigate such risks. To test the proposed relationships, several multiple regression models were applied. Significant correlations were observed in some cases, as detailed in the extended version of this dissertation. To mitigate interpretation issues arising from multicollinearity, separate regression models were estimated for the independent variables, followed by a stepwise regression to identify those with the greatest explanatory power for each dependent variable. The second study addresses Objective (2), proposing internationalization—specifically measured as international faculty secondment—as an antecedent of university risk management, with the formalization of risk management acting as a mediating variable. Analyses were conducted using AMOS software and Structural Equation Modelling (SEM) to test both direct and indirect effects, employing a 90% bias-corrected bootstrap confidence interval with 5,000 resamples. Mediation was deemed present when zero was not contained within the confidence interval of the indirect effects. Partial mediation was established when both direct and indirect effects were significant, while full mediation was confirmed when only the indirect effect was significant. The bootstrapping approach provides a more robust conceptualization of mediation than the traditional methods proposed by Baron and Kenny (1986) and the Sobel test (Hayes, 2018; Cheung & Lau, 2008; Chaudhary & Akhouri, 2018; Irfan et al., 2023). The third study complements the first in addressing Objective (1). It examines how advanced management practices implemented in higher education institutions influenced student growth during and after the COVID-19 pandemic. Covering the 2018–2022 period, the analysis assessed both the pre-pandemic baseline and the evolution of these practices throughout the crisis. To verify this effects, first, eight independent multiple regression models were estimated—one for each management practice—to ensure coefficient stability and avoid collinearity issues. Subsequently, a stepwise regression was conducted to identify variables with unique explanatory power, based on statistical significance (p < 0.05) and incremental contributions to the adjusted R², thereby distinguishing associative from causal effects. To complement this analysis, a one-way ANOVA was performed to compare institutional performance among universities grouped according to their management practice trajectories during the pandemic. Using pre-pandemic distributions as reference points, universities were categorized into three cohorts: those that reduced, maintained, or increased their adoption of advanced management practices. Tukey’s HSD post-hoc tests (α = 0.05) were then applied to assess differences in student growth among these groups, providing a robust evaluation of the differential impact of adaptive management strategies. Data The proposed conceptual models were validated through a survey conducted across four Latin American countries—Peru, Ecuador, Colombia, and Venezuela—covering a population of 379 universities. A structured questionnaire was developed to measure each variable of the study, as described in the following section. Chancellors and members of university governing bodies were selected as key informants because they typically occupy senior strategic and administrative roles (Martínez, 2016; Sánchez, 2022; Davis, 2025), possess in-depth knowledge of the variables under examination, and hold ultimate responsibility for their implementation. Prior to full deployment, the questionnaire and its administration procedure were pre-tested with five Latin American chancellors or vice-chancellors and one European vice- chancellor. The final version was administered online using Qualtrics software. To maximize response rates, the Dillman Method (2000) was employed: first, potential respondents were contacted by phone to introduce the project and request an institutional email address to share the survey link and additional information. Two subsequent rounds of reminders were sent via telephone and email. This process yielded 119 completed questionnaires, representing a 29% response rate and a sampling error of 7.2% at a 95% confidence level. To assess potential non-response bias, an analysis of variance (ANOVA) was performed by comparing the first 25 and last 25 responding universities based on institutional size (measured by the number of students and faculty as reported on their official websites, given the absence of a centralized database). Twelve universities were excluded from the analysis—nine in Venezuela, two in Colombia, and one in Ecuador—due to missing size data, leaving 107 valid responses. The statistical results showed no significant differences between early and late respondents (see Table 4), indicating no evidence of non-response bias (Wagner & Kemmerling, 2010). Several procedural remedies were implemented to mitigate potential common method bias (Podsakoff et al., 2003). Participants were assured of the confidentiality of their responses and informed that there were no “right” or “wrong” answers. Additionally, the questionnaire was designed to clearly separate independent, dependent, and moderator variables. After data collection, Harman’s single-factor test was conducted to assess the presence of common method bias across all construct items. The analysis extracted 11 distinct factors explaining 74.08% of the total variance, suggesting that common method bias was not a concern in this study. Measures To measure the variables in the different models, both reflective and formative scales were used, depending on the nature of each construct. For reflective scales, Confirmatory Factor Analyses (CFA) were conducted to verify unidimensionality, reliability, convergent validity, and discriminant validity. For formative scales, the premises proposed by Jarvis et al. (2003) were examined to ensure their appropriateness. The detailed process of measurement scale development is presented in the extended version of this thesis. Results and Contributions Overall, the results of the proposed model were confirmed, as detailed in the extended version of this dissertation thesis. This first study emphasizes the need to identify, classify, and standardize the analytical parameters of risk management in higher education systems into three categories: (1) factors that cause risks, (2) types of performance parameters that may be at risk, and (3) practices that act as risk mitigators. In other domains—such as supply chain risk management—similar classifications of parameters are already well established; however, in the context of university management, these have yet to be clearly defined. Some previous studies offer key contributions in this regard (e.g., Brewer & Walker, 2011), but a clear conceptual framework for university risk management has not yet been developed. For instance, Brewer and Walker (2011) tend to mix causes and consequences when defining risks—for example, referring to strategic risk as something that affects the university’s long-term performance and is caused by external and governance-related factors. Distinguishing between risks that are specific to their causes and those that are specific to their consequences helps clarify the analysis. Furthermore, Brewer and Walker compile several types of specific risks, but their analysis is not comprehensive: they address competition among universities yet overlook other relevant risk factors such as competitors’ actions, student enrollment levels, or political, economic, and sociological variables. Finally, they do not specify which practices could mitigate such risks nor provide empirical evidence of mitigation effects. Therefore, our findings serve as a stimulus for future academic work aimed at classifying these factors and empirically verifying their interrelationships. The conceptual model and empirical findings of our second article make three key contributions. First, we advance risk management research by emphasizing the often-overlooked role of employees—in our case, faculty members—as active agents in risk mitigation. Their commitment, organizational knowledge, and proactivity significantly influence the development of university risk management systems (González-Zapatero et al., 2024).Second, we refine the University Risk Management framework by defining specific analytical parameters: faculty development as a mitigation practice, University Risk Management Formalisation as a measure of standardization, and international faculty secondment as an antecedent of both. These validated constructs provide a foundation for future empirical research in a field still dominated by conceptual and case-based studies (Khaw & Teoh, 2023). Third, we contribute to the institutional theory debate in higher education by evidencing strong institutional pressures—particularly from leading international universities—that drive isomorphism and standardization. While such pressures risk reinforcing a self-referential academic system, they also represent necessary adaptation mechanisms for institutional survival. International faculty secondment emerges as a strategic response, enabling universities to align with global norms while progressively integrating broader societal concerns such as inequality, sustainability, and social responsibility (Oliver, 2001; Clegg et al., 2021). The third study findings provide robust empirical evidence to the growing field of research on risk management in higher education (Amuya & Kariuki, 2023; Anchundia et al., 2018; Quijije et al., 2018; Edwards, 2012; Huber, 2011; Syreyshchikova et al., 2020), demonstrating that mitigation practices traditionally applied in business contexts are also effective for universities facing external crises. The identification of faculty development as the sole predictor in the stepwise model confirms the strategic importance of investing in highly qualified human capital as a central component of institutional resilience—consistent with institutional theory perspectives on the influence of environmental factors on organizational behavior (DiMaggio & Powell, 1983; Scott, 2008; Collier & Woods, 2011). This evidence reinforces the notion that universities with strong institutional capabilities are better positioned to adapt to external disruptions and sustain performance under conditions of uncertainty. From an institutional theory perspective, the findings confirm that advanced management practices driven by isomorphic legitimization mechanisms strengthen university resilience in times of crisis (DiMaggio & Powell, 1983). Likewise, accreditation schemes appear well designed by incorporating such practices (e.g., strategic planning, faculty development, and social–environmental engagement), acting as external pressures that catalyze and compel institutions to adopt robust management standards. However, university rankings, while capturing visible dimensions such as scientific output and internationalization, overlook critical risk mitigation practices (e.g., resource management during crises or social–environmental commitment), thereby limiting their ability to assess institutional resilience comprehensively. Thus, whereas accreditation frameworks validate a broad spectrum of advanced management practices, rankings continue to prioritize traditional prestige metrics, highlighting the need to integrate indicators of adaptability and sustainability to more accurately reflect institutional performance in volatile environments. Limitations and further research This research is not without limitations, which in turn open several avenues for future inquiry. Although the analyses indicated no evidence of common method bias, future studies could reinforce these findings by incorporating objective indicators—for instance, data on the number and duration of faculty secondments abroad in the second study. While the main goal of this research was to contribute to the existing literature on University Risk Management by developing and empirically validating conceptual models based on large samples, qualitative approaches could further illuminate the mechanisms underlying the observed relationships, thereby enriching the theoretical and empirical foundations of the field. Moreover, the use of additional datasets with panel data would provide opportunities to examine and refine these relationships over time. Expanding the theoretical background could also offer valuable perspectives for gaining deeper insight into the proposed associations, as well as exploring alternative interrelations among the variables. Finally, the investigation of nonlinear (curvilinear) relationships or moderation effects could yield additional understanding of the complex dynamics shaping university risk management

Sistemas de Calidad Aplicados a los Aeropuertos

2026-01-30T01:00:42Z

[ES]El capítulo describe los sistemas de gestión de la calidad comúnmente aplicados en la gestión de aeropuertos. Incluye una descripción detallada del Modelo EFQM de Excelencia en la gestión de aeropuertos, así como las encuestas ASQ (Airport Service Quality).

New Approach to Detect and Select Technology-Based Firms: Value Creation Factors in a Follower Technology Country.

2026-01-30T01:00:38Z

[EN]Technology-based firms are a key driver for the growth potential of a country due to their capacity to introduce radical innovations and value into the economy. In this chapter, the authors propose a definition for technology-based firms based on their strategies that makes possible to identify the companies with advanced use of technology (including knowledge) in all the sectors of the economy. This refined definition helps to identify this kind of companies and to orientate special public policies to foster their development. For follower countries in terms of technology and innovation, as it is the case of Spain, technology-based firms may be a significantly different collective compare with advanced technological countries. Thus, the authors propose a method to detect technology-based firms in not only high technology sector using a Technological Innovation Panel (PITEC) in Spain. This chapter confirms that there are technology-based firms in many activities outside the high technology sectors that can be of interest for public institutions and investors.

Calidad en el sector aeronáutico

2026-01-30T01:00:46Z

[ES]Este capítulo tiene como objetivo analizar el concepto y evolución de la calidad en relación al sector aeronáutico (en concreto en su aplicación en aeropuertos). El capítulo también profundiza en el rol fundamental de la satisfacción en el enfoque integral de la calidad. Analizando conceptos como la calidad total y la búsqueda de la excelencia, se describe los mecanismos que los aeropuertos utilizan para alcanzar altos grados de satisfacción de todos los clientes. En este capítulo se debate que la calidad absoluta es inalcanzable, es un proceso continuo de mejora, y de igual modo, la satisfacción es el resultado de un proceso cognitivo y evolutivo de los agentes (cualquier tipo de cliente) que interactúan en los aeropuertos. La satisfacción varía según la percepción de la calidad y las expectativas de los agentes. Por tanto, es necesario establecer medidas fiables y comparables de calidad y satisfacción para los aeropuertos. Seguidamente, se señala el carácter multidimensional y de ambos conceptos, en la que la excelencia resulta un camino por recorrer y una fuente de ventajas competitivas sostenibles.

Testing critical levels in product and geographic diversification: a structural threshold approach

2026-01-30T01:00:29Z

[EN]This paper performs a structural threshold regression analysis to test the existence of critical diversification levels in a study of the moderating effect of diversification strategies on performance. The method is applied to a novel panel dataset comprising a sample of Spanish multinational companies from non-financial sectors in 2006–2011. The results reveal that a critical level of geographic diversification is needed to influence positively the product diversification-performance relationship. Moreover, the geographic diversification-performance relationship is not influenced by the level of product diversification. Our results are relevant for understanding the complexity of these strategies.

Family firms and coupling among CSR disclosures and performance

2026-01-30T01:00:44Z

[EN]This paper aims to analyse the behaviours related to the decoupling of the disclosed information on Corporate Social Responsibility (CSR) and corporate sustainability, deepening these practices’ knowledge within family businesses. For this purpose, we defined decoupling as a gap between social responsibility performance (internal actions) and disclosures (external actions). For a sample of 33,809 observations for the period 2011–2019, corresponding to 5029 companies, 19% being family firms, our empirical evidence supports that family firms present a less wide gap between performance and disclosure, confirming the prevalence of socioemotional wealth dimensions in the decision-making of these companies. In firms without controlled shareholders, the quality of nonfinancial reporting could be understood as ambiguous, understanding that the most useful CSR information is found in the reports of family-owned companies.

The paradigm of female directors in the managerial capture of sustainability assurance: an analysis supported by natural language processing methods

2026-01-27T01:01:13Z

[EN]Purpose: Sustainability assurance has become essential for enhancing the credibility of sustainability disclosures. However, without harmonized standards, critical literature highlights the risk of managerial capture and questions the effectiveness of assurance in promoting accountability. This study aims to investigate whether board gender diversity serves as a governance mechanism that reduces the risk of capture and whether a critical mass of female directors is necessary to exert a monitoring role. Design/methodology/approach: Using 2,267 assurance statements from European-listed firms (2018–2022), the authors develop an index of managerial capture based on whether assurance reports evaluate compliance with established reporting principles. A higher score indicates a more comprehensive verification process and, consequently, a lower risk of managerial capture. To complement this measure, the authors assess the tone of the assurance statements, where an overly optimistic tone serves as an additional indicator of managerial capture. The monitoring role of board gender diversity is analyzed using panel data regression models and a difference-in-differences approach to account for the influence of board gender diversity regulations. Findings: The results show that a critical mass of female directors (exceeding 30%) reduces the risk of managerial capture, and that gender-balanced boards (with 40%–60% female representation) are the most effective in monitoring this risk. Moreover, board gender diversity regulations further strengthen the oversight role of female directors. Originality/value: This study advances the field of sustainability assurance by proposing a governance mechanism that minimizes the risk of managerial capture and illustrates the potential of natural language processing techniques for analyzing sustainability disclosures. It also demonstrates that gender-balanced boards and gender diversity regulations enhance corporate accountability.