2. Universidad Cardenal Herrera-CEU

The analysis of efficiency and productivity in banking has received a great deal of attention for almost three decades now. However, most of the existing literature to date has not explicitly accounted for risk when measuring efficiency. We propose an analysis of profit efficiency taking into account how the inclusion of a variety of bank risk measures might bias efficiency scores. Our measures of risk are partly inspired by the literature on earnings management and earnings quality, considering that loan loss provisions, as a generally accepted proxy for risk, can be adjusted to manage earnings and regulatory capital. We also consider some variants of traditional models of profit efficiency where different regimes are stipulated so that financial institutions can be evaluated in different dimensions—i.e. prices, quantities, or prices and quantities simultaneously. We perform this analysis on the Spanish banking industry, whose institutions are deeply affected by the current international financial crisis, and where re-regulation is taking place. Our results can be explored in multiple dimensions but, in general, they indicate that the impact of earnings management on profit efficiency is of less magnitude than what might, a priori, be expected, and that the performance of savings banks has been generally worse than that of commercial banks. However, savings banks are adapting to the new regulatory scenario and rapidly catching up with commercial banks, especially in some dimensions of performance.

A geographical concentration of businesses enables them to mitigate the drawbacks arising from their small size. It is therefore important to highlight the existence of such zones and their location in regions where most businesses are SMEs, such as the Valencia Community region. Moreover, it is particularly important for technological companies, since such concentrations act as a means of increasing their productivity. By using georeferencing software, SatScan, four zones with a high concentration of technological companies are identified superimposed on zones with a very industrial tradition. The profile of the companies analysed could be of interest in implementing suitable industrial policies.

The literature analysing the efficiency of financial institutions has evolved rapidly over the last 20 years. Most research has focused on the input side, analysing either cost, input technical efficiency or input allocative efficiency, whereas comparatively fewer studies have examined the revenue side. However, both sides are relevant when evaluating banks’ performance. This article explicitly explores how serious it may be to confine the analysis to one side of banks’ activities only, comparing the efficiencies yielded by either minimising costs or maximising revenues. We focus on the Spanish banking sector, which is currently undergoing a profound process of change and restructuring. The application shows how severely biased the analysis is when only a partial efficiency measurement is conducted. It also shows the growing relevance of the issue since the beginning of the financial crisis. © 2016 Asociación Española de Contabilidad y Administración de Empresas (AECA).

En los estados democráticos modernos se potencia la participación ciudadana por cauces representativos. Tras la crisis económica de 2008, la ciudadanía europea muestra más desconfianza y pone en cuestión la toma de decisiones de sus gobiernos y algunos parámetros clásicos de la democracia como la representación ciudadana, la deliberación y la responsabilidad de los gobernantes frente a la ciudadanía. En España, esta crisis coincide con la aparición de nuevos partidos políticos que, en algunos casos, se comprometieron con incentivar la transparencia y la participación ciudadana en la gestión pública. Al ser las entidades locales las instituciones más cercanas a los ciudadanos, tanto la transparencia como la participación se convierten en elementos clave para cumplir con esos parámetros, aportando las tecnologías de la información y comunicación (TIC) nuevas herramientas como las webs y portales, que pueden contribuir a potenciarlas. La presente investigación tiene por objeto analizar el uso de estos canales para impulsar la transparencia y la participación ciudadana, por parte de los ayuntamientos de 4 comunidades autónomas (Cataluña, Comunidad de Madrid, Comunidad Valenciana y Región de Murcia), poniendo especial énfasis en cómo podrían influir los ejes izquierda-derecha y viejos-nuevos partidos, junto con el tamaño de población de los municipios. El método empleado consiste en un análisis de contenido de tipo categorial, basado en los indicadores del Mapa Infoparticipa y dos modelos de regresión lineal por mínimos cuadrados ordinarios. Los resultados y conclusiones del estudio muestran que el tamaño de la población y la comunidad autónoma son determinantes en los índices de transparencia. Además, las formaciones políticas alineadas a la izquierda del espectro ideológico, junto con algunos de los nuevos partidos, influyen en la mayor transparencia y participación de las webs de los municipios donde gobiernan.

Business innovation is fundamental for sustained economic growth at the regional level. Knowing the common characteristics of innovative companies and their location is essential to carry out appropriate economic policies. To this end, we have carried out a double analysis: one grouping of companies according to characteristics and another by geolocation. This study focused on one of Spain’s 17 autonomous communities, the Comunitat Valenciana, a region characterised by significant industrial diversity. Our results show, among other things, that size is not a differentiating factor when it comes to innovation, and that there is a positive relationship between physical clustering and productivity.

El objeto de la investigación es conocer si las webs y portales de transparencia municipales son utilizados como herramientas de Relaciones Públicas orientadas al diálogo con los públicos locales. Para ello, se ha realizado un análisis de contenido utilizando como base la metodología del Mapa InfoParticipa y un análisis de regresión, centrándose el estudio en los ayuntamientos de la Comunidad Valenciana. En el trabajo se han identificado 5 modelos predominantes de webs y portales de transparencia: web independiente, apartado en web, sede electrónica, plantilla de la Diputación provincial y plantilla del Gobierno de España. En todos los modelos se observa, en general, un bajo nivel de cumplimiento de indicadores de transparencia y participación. El modelo más utilizado por los ayuntamientos es la sede electrónica, siendo el que peores niveles de cumplimiento registra para todos los públicos. La web independiente y el apartado en el sitio web, que son las fórmulas más utilizadas en los ayuntamientos de más de 50.000 habitantes, favorecen más la relación con los ciudadanos y asociaciones locales. Los medios y los órganos de participación son los públicos menos atendidos desde una perspectiva de las Relaciones Públicas en todos los modelos. En el análisis de las regresiones lineales, se evidencia que la web independiente y el apartado en web son significativos en el conjunto de la población, junto con el primer modelo y las plantillas de la Diputación en ayuntamientos más pequeños. El uso de las últimas es una oportunidad para facilitar las relaciones con los stakeholders locales en los municipios de menos de 20.000 habitantes, que cuentan con menos recursos para la elaboración de diseños propios. / The aim of this research is to determine whether web pages and portals aimed at municipal transparency are in fact used as public relations tools directed at liaison with local stakeholders. The study focuses on the municipalities of the Autonomous Community of Valencia, using a methodology based on the InfoParticipa map via a content and regression analysis. Five main models of transparency web pages and portals were identified in this study, all showing, in general, a low level of compliance with transparency and participation indicators. The online site, although the most heavily used by the municipalities, was the model with the lowest levels of compliance. Separate websites or website sections, the model most widely used by municipalities with more than 50,000 inhabitants, greatly favor relations with citizens and local associations. In contrast, the media and participatory bodies are the stakeholders that are less well addressed from the perspective of public relations in the transparency web pages and portals adopting all the models. The results obtained by linear regression analysis show that independent websites and website sections are significant for the whole dataset. Nevertheless, for small municipalities, independent websites and the Diputación (provincial government) template are the most significant models. The latter model provides the opportunity to address stakeholder relationships for small municipalities that cannot afford to draw up their own designs.

After the financial crisis of 2007–2008, some bank performance dimensions have been the subject of debate, two of which are bank efficiency, and bank risk-taking behavior. The literature on bank efficiency and productivity has grown considerably over the last three decades, and has gained momentum in the aftermath of the financial crisis. Interest in bank risk-taking behavior, usually focusing on its links to monetary policy, has been relatively low, but has also increased exponentially in more recent years. This paper combines these two streams of research. Specifically, we test whether more inefficient banks take greater risks when selecting borrowers, charging interests and requiring collateral, and whether these links between inefficiency and risk change according to the type of bank. Our analysis centers on the Spanish banking system, which has been severely affected by the burst of the housing bubble and has undergone substantial restructuring. To test our hypotheses, we created a database with information on banks and savings banks, their borrowers (non-financial firms), and the links between them. The study also contributes to the literature by considering a novel profit frontier approach. Our results suggest that more inefficient banks take greater risks in selecting their borrowers, and that this high-taking behavior is not offset by higher interest rates.