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November 1993 - present
Publications
Publications (19)
In line with the Resource-based view, intangibles have become the key resource for generating competitive advantages in a firm. This is particularly significant in the case of small and medium enterprises (SMEs) whose competitive advantage is frequently based on intangible resources. However, there has been little attempt to assess and measure the...
The aim of the present is to verify the degree of applicability of the financial valuation method developed by Rodríguez-Castellanos et al. (2006a, 2007) for the valuation of real option-based intangibles in the Spanish region of the Basque Country. The field study consisted on a telephone survey of CFOs in a random sample of Basque Country’s firms...
Este trabajo pretende conocer el grado en el que las empresas del País Vasco consideran opciones reales en la gestión de sus intangibles y verificar el grado de aplicabilidad del método de valoración financiera desarrollado por Rodríguez-Castellanos et al. (2006a, 2007) para la valoración de intangibles en su dimensión de opciones reales. Para el l...
The purpose of this chapter is twofold. Theoretically it hybridizes two management concepts: Intellectual capital (IC) and knowledge flows. By combining these two concepts, the authors seek to illustrate the dynamics of organizations’ intellectual capital. In addition to the theoretical and conceptual contribution, this chapter introduces an empiri...
Este trabajo pretende analizar la relación entre la percepción de las empresas del País Vasco sobre la importancia de la valoración de los intangibles y los resultados que obtienen. Para el logro de este objetivo se ha realizado una encuesta a 440 directores financieros. Del análisis de sus espuestas y de los resultados económico-financieros de sus...
This chapter aims to analyse the Basque Country companies' view about the financial valuation of intangibles relevance and its influence on business performance. To achieve this objective, a field study has been done with 440 telephone calls to Basque Country companies' financial managers. Then, their responses and theirs firm's performance are ana...
Este trabajo pretende analizar la relación entre la percepción de las empresas del País Vasco sobre la importancia de la valoración de los intangibles y los resultados que obtienen. Para el logro de este objetivo se ha realizado una encuesta a 440 directores financieros. Del análisis de sus respuestas y de los resultados económico-financieros de su...
This paper aims, on the one hand, to investigate the Basque Country companies’ view about the intangibles relevance and the interest and causes to their valuation, on the other hand, to determine their main intangibles and finally to verify the applicability of the financial valuation method proposed by Rodríguez-Castellanos et al. (2006a, 2007). T...
Ante la importancia que, en los últimos años, están adquiriendo los intangibles empresariales y su valoración financiera, este trabajo pretende, en primer lugar, conocer la percepción de las empresas del País Vasco sobre la importancia y motivos para la valoración de los intangibles, así como constatar la tipología de intangibles que predominan en...
This paper aims to investigate if the Basque Country companies� considers real options in managing their intangibles and to verify the applicability of the financial valuation method proposed by Rodríguez-Castellanos et al. (2006a, 2007) to value intangibles� real options dimension. To get the objectives, a field study has been done with 517 teleph...
This chapter puts forward a method for intangibles financial valuation based on a specific taxonomy that distinguishes between a company’s intangible assets and core competencies as value drivers. Our approach assumes that the value of a company’s intangibles fundamentally lies in the core competencies.
The proposed method is based on a strategic...
The extensive offer of mutual funds on the market favors the use of mutual fund classifications as a tool for defining fund characteristics, comparing them and evaluating their results. However, a number of studies provide evidence that fund managers manipulate the characteristics of the mutual fund portfolios in line with economic incentives. In t...
The right assessment of the investment funds performance and of the manager’s ability to add value with their management is an important aspect to which has been paid special attention. Among the traditional performance measures, one of the most used is the Jensen’s alpha. However, one of the main problems of the evaluation methods using the beta a...
La evaluación adecuada de las resultadas de los fondos de inversión y de la habilidad de los gestares para añadir valor con su gestión es un aspecto al que se le ha prestado y presta especial atención. Entre las medidas tradicionales de evaluación, una de las más utilizadas es el alfa de Jensen. Sin embargo, uno de los principales problemas de los...
The extensive offer of mutual funds on the market favors the use of mutual fund classifications as a tool for defining fund characteristics, comparing them and evaluating their results. However, a number of studies provide evidence that fund managers manipulate the characteristics of the mutual fund portfolios in line with economic incentives. In t...
Este trabajo pretende, en primer lugar, conocer la percepción de las empresas del País Vasco sobre la importancia y motivos para la valoración de los intangibles, en segundo lugar, constatar la tipología de intangibles predominantes en estas empresas; y finalmente verificar el grado de aplicabilidad del método de valoración financiera desarrollado...
La descripción de los fondos de inversión -- Valoración del fondo de inversión -- La gestión inversora del fondo
