Research Bulletin - Issue 53

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Do Better.

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Research Bulletin Issue 53 I May-August 2020 I Academic Year 2019-2020

COVID-19 outbreak and new normality: Multi-level responses to face its implications

“

As everyone is struggling with economic resources at the moment, now may be a good time for companies to adopt more ethical and sustainable relationships with suppliers

”

Annachiara Longoni, Associate Professor, Department of Operations, Innovation and Data Sciences Ignasi Martí, Professor, Department of Society, Politics and Sustainability Angel Saz, Associate Professor, Department of Strategy and General Management

Developing a response to the COVID-19 outbreak and following new normality is extremely challenging, given the scale of the crisis and the rate at which has evolved. The best response, of course, is to be ready before such a crisis hits. However, there are measures that can be taken now even if we weren’t fully prepared. Even if long-term consequences have yet to fully play out, policy makers, companies and civil society organizations have reactively started to take measures to face COVID-19 implications.

In response to COVID-19, states have forcefully intervened in global trade through two main avenues, creating huge implications for companies across the globe. First, many countries have imposed export controls on critical goods (such as medical and pharmaceutical products), weaponizing--to a certain extent--critical supplies, and have imposed limits on foreign direct investment (FDI) and foreign ownership. Second, many countries have sought to stimulate their domestic markets and bailout national corporations, in search not only of overcoming the pandemic but also of building “national champions”. In the EU, Germany and France have triggered public aid in great quantities to their national companies. Germany accounts for 52% of all public aid to companies given by EU countries. Moreover, both countries are calling for relaxing competition rules and for creating “European corporate champions” to face American technology giants and huge Chinese state-owned companies.

From the company perspective, the COVID-19 outbreak has shown the fragility of global supply chains. Most companies have been working to secure raw materials and components.

However, a small minority of companies that invested in mapping their supply chains before the pandemic emerged better prepared. They could prevent and estimate possible disruption sources, for example by knowing which of their suppliers had a site in the specific lockeddown regions of China. In the early stages of the pandemic, when it appeared to be isolated to China, there was an increased call to backshore some activities, due to the increased risks

inherent in global supply chains. While reshoring local production for local demand generally might reduce disruption and other risks, there are still plenty of things that should be globally sourced. In addition, in local dispersed production the economies of scale are lower, and the capital costs are higher.

As everyone is struggling with economic resources at the moment, now may be a good time for companies to adopt more ethical and sustainable relationships with suppliers, by selecting them not only based on costs but also in terms of value provided and being fair with payment terms. Examples of firms reducing payment terms are Unilever who recently announced it will reduce payment terms to “the most vulnerable small and medium-sized suppliers.” Ethics and sustainability are not a ‘luxury’ item only applicable during the good times, it will contribute to create more robust supply chains.

That the crisis is not a public health crisis solely is already very visible. Many hard and soft indicators permit to see how it goes beyond “just” more poverty and more inequality, to the point of potentially generalizing the extreme conditions that were already observable at the margins of the system. The weaking of livelihoods and life projects and the deepening of patterns of exclusion and marginalization is a complex problem whose many angles and faces are difficult to tackle. At the moment, we can see how, at the local and translocal levels individuals, are organizing solidarity initiatives, re-vitalizing and re-signifying the role and importance of, for instance, food-banks, shelter homes and housing initiatives, psychological and emotional support centers, anti-discrimination efforts, and a large etc. They are very important and need to be nurtured and strengthened. In parallel, governments at different levels – along with and sometimes in partnership with, private sector and social civil organizations–, are also focusing on providing what are –cannot be otherwise– partial, fragmentary, and temporary solutions to what is a profound social, economic, and moral crisis already. There is shared preoccupation that the crisis poses challenges, risks and limitations that prevent many from living a good life, a life with dignity. What is necessary is the building of broad consensus and design and implementation of courageous responses, across societal sectors, that clearly and decisively embody and enact ethical values of caring for those that are and will be more vulnerable.

It’s impossible to anticipate the arrival of global crises such as the COVID-19 outbreak, but policy makers, companies, and civil society organizations can work to develop responses at multiple levels –transnational, national, supply chain and organizational level-, to face its implications and rethink our society for the new normality, and increase our preparedness in case of a new crisis.

RESEARCH BULLETIN Issue 53

Table of Contents RESEARCH NEWS ............................................................................................................... 3 ARTICLES WITH IMPACT FACTOR .......................................................................................... 7 QUARTILE 1 .................................................................................................................... 7 QUARTILE 2 .................................................................................................................. 13 QUARTILE 3 .................................................................................................................. 17 QUARTILE 4 .................................................................................................................. 19 OTHER ARTICLES IN ESADE RECOMMENDED LIST: ................................................................ 20 1* ................................................................................................................................ 20 ACADEMIC PEER REVIEWED & PROFESSIONAL JOURNALS ..................................................... 21 BOOKS ........................................................................................................................... 23 INTERNATIONAL PUBLISHERS .......................................................................................... 23 BOOK CHAPTERS ............................................................................................................. 25 INTERNATIONAL PUBLISHERS .......................................................................................... 25 NATIONAL PUBLISHERS .................................................................................................. 27 ACCEPTED PAPERS IN ACADEMIC CONGRESSES .................................................................. 28 CASES ............................................................................................................................ 30 ESADE'S PUBLICATIONS .................................................................................................... 31 PHD THESIS ..................................................................................................................... 32 COMPETITIVE RESEARCH PROJECTS WHICH HAVE WON FUNDING ........................................... 34 EUROPEAN ................................................................................................................... 34 NATIONAL .................................................................................................................... 35 CATALAN ..................................................................................................................... 38 NON COMPETITIVE RESEARCH PROJECT WHICH HAVE WON FUNDING ...................................... 42 CATALAN ..................................................................................................................... 42 AGENCIES' EVALUATION ................................................................................................... 43 ACCREDITATIONS .......................................................................................................... 43 MERITS IN RESEARCH .................................................................................................... 44 AWARDS ......................................................................................................................... 45 RESEARCH SEMINARS ...................................................................................................... 46

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RESEARCH NEWS

Code for Research Integrity approved at Ramon Llull University The Governing Board of Ramon Llull University approved, last Thursday, September 17, the Code for research integrity, prepared by the Ethos Chair at the request of the CER-URL. The purpose of this Code is to identify the ethical guidelines that should govern the practice of URL research. It therefore commits all the research staff who, in one way or another, are linked to Ramon Llull University and who participate in a research team, regardless of their disciplinary field. It also engages the rest of the Ramon Llull University community that makes research possible.

For the elaboration of the Code, the participation of the research community of the URL has been considered, as well as the codes for research integrity of the research of institutions and research centres of reference in Europe and the USA. + info: Code for research integrity at Ramon Llull University (still only in Catalan) ESADE ethical research

Esade awarded with the HRS4R accreditation The European Commission has awarded Esade the HRS4R accreditation, the Human Resources Strategy for researchers award, an initiative of the European Commission to encourage and support institutions in the implementation of the principles of the European Charter and Code for Researchers in their internal practices and procedures.

In line with the guidelines established by the European Commission, Esade began last academic year the process of implementing a new Human Resources Strategy that would make the institution a more attractive workplace for researchers at all levels, and lay the groundwork for obtaining the accreditation of HR Excellence in Research.

Esade sent its HRS4R application to the European Commission, including both the internal needs analysis, the action plan and the corresponding human resource strategy approved by Esade’s Executive Committee. The

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comprehensive analysis and action plan meet all the requirements for the use of the accreditation "HR Excellence in research award".

This accreditation reflects Esade’s commitment to further develop its internal human resources strategy, adhering to the recommendations and the principles set out in the Charter and Code and to guarantee transparency, accessibility, equity, and the pursuit of excellence in the recruitment of researchers.

In the Research section of Esade’s main webpage you can find the results of the survey carried out among our researcher community and the HRS4R Action Plan.

The article resulting from experiments carried out at Esade's Decision Lab by Anna Bayona has been published The experiment carried out, in collaboration with Dr. Oana Peia from University College Dublin, can be consulted in the paper "Financial contagion and the wealth effect: An experimental study" accepted by the Journal of Economic Behavior and Organization. This paper is an important milestone for Esade’s Decision Lab as it is the first time that results from a main experiment executed in our Lab are published.

Dr. Bayona and Dr. Peia designed a laboratory experiment to test the importance of wealth as a channel for financial contagion across markets with unrelated fundamentals. In a sequential global game, they analyze the decisions of a group of investors that hold assets in two markets. They consider two treatments that vary the level of diversification of these assets across markets. In both treatments, they find evidence of financial contagion. When investors have completely diversified portfolios, they provide evidence of contagion due to a wealth effect: for certain ranges of fundamentals, they show that a decrease in wealth from the investment in the first market makes withdrawals more likely in the second, thereby increasing the probability of a crisis.

When portfolio diversification is small, then social imitation is relevant in explaining contagion.

Frank Wiengarten and Cristina Gimenez included in the SCM research leadership ranking of agents and their networks This study aims to examine publications of supply chain management (SCM) researchers from across the world and maps the leadership role of authors and institutions based on how prolific they are in publishing and on network measures of centrality while accounting for the quality of the outlets that they publish in. It aims to inform stakeholders on who the leading SCM scholars are, their primary areas of SCM research, their publication profiles and the nature of their networks.

It also identifies and informs on the leading SCM research institutions of the world and where leadership in specific areas of SCM research is emerging from.

Based on SCM papers appearing in a set of seven leading journals over the 15-year period of 2001-2015, publication scores and social network analysis measures of total degree centrality and Bonacich power centrality are used to identify the highest ranked agents in SCM research overall, as well as in some specific areas of SCM research. Social network analysis is also used to examine the nature and scope of the networks of the ranked agents and where leadership in SCM research is emerging from.

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Frank Wiengarten: 6/Top 25 SCM authors of Europe by Bonacich power centrality; 7/Top 25 SCM authors of Europe by total degree centrality and 19/Top 25 SCM authors of Europe by publication score Cristina Giménez: 17/Top 25 SCM authors of Europe by Bonacich power centrality; 17/Top 25 SCM authors of Europe by total degree centrality and 16/Top 25 SCM authors of Europe by publication score + info: SCM research leadership: the ranked agents and their networks Charting leadership in SCM research from Asia and Europe - International Journal of Production Economics

Call for AQU Research and Advanced Research accreditations The Agency for the Quality of the University System of Catalonia (AQU) has opened a new deadline for their lecturer accreditation process.

Applications must be submitted electronically through the Virtual Procedures Office of the Generalitat de Catalunya.

The deadline for applications is November 6, 2020.

For any questions you can contact Mercè Saura, from the Research Office (merce.saura@esade.edu). + info: AQU acreditation Acreditations

Do you know what Altmetrics is?

Altmetrics is the short name for "alternative metrics". It is a new measurement for the impact of scholarly content through Web driven interactions, based on how far and wide it travels through the social Web (like Twitter), social bookmarking (CiteULike) and collaboration tools (like Mendeley). It goes beyond traditional citation-based indicators, and they focus on readership, diffusion and reuse indicators.

You can see further information about altmetrics and how to measure your research impact at the libguide “Journal rankings and research impact” of the Research Support section of MyEsade. + info: For enquiries and further information please contact the Library (ext. 5327).

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Special announcement!

If you use Mturks, Prolific or Cloudresearch for your online experiments:

To make things more efficient, transparent and easier to track for “auditable� purposes we have updated the payment procedures for these online-experiment platforms.

You may find the detailed procedures HERE In summary:

+ info: For more info contact decisionlab@esade.edu or research@esade.edu

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ARTICLES WITH IMPACT FACTOR

QUARTILE 1

Arenas Vives, D., Murphy, B. & Jรกuregui, K. (2020). Community influence capacity: Lessons from the peruvian highlands. Organization Studies, 41 (6), pp. 737-765. DOI: 10.1177/0170840618814567. IF: 3.543 (2018) Cuartiles: Q1 Management ABS: 4 (2018) CARHUS: A (2018) ESADE: 4 (2015) FT50 (2017) While much research has studied corporate management of stakeholders, this research focuses on the capacity of stakeholders to influence firms. Using a grounded theory research design, we draw on a comparative analysis of the relations between two neighbouring communities in the Peruvian highlands and the mining project that affects them. Our analysis suggests that control of resources and structural configurations are insufficient for explaining divergent actions and influence capacity, and highlights the role played by factors that we refer to as community vigour and the community's pool of knowledge. We argue that these factors explain a community's ability to develop an informed and shared interpretation of the situation in relation to firms and, therefore, to identify and carry out actions that will be more likely to influence firms to the community's satisfaction. Thus, community vigour and pool of knowledge are additional sources of influence capacity. These findings contribute to the literature on stakeholder influence by providing a conceptual model that explains variance in stakeholder influence capacity that theories of resource dependence, structural position or network centrality do not fully explain.

Bonache, J. A. & Zรกrraga Oberty , C. (2020). Compensating international mobility in a workers' cooperative: An interpretive study. Journal of World Business, 55 (5), pp. 100975-100975. IF: 5.789 (2018) Cuartiles: Q1 Business ABS: 4 (2018) CARHUS: A (2018) ESADE: 3 (2015) Through an interpretive research design, this study analysis how worker-members in Workers Cooperatives understand and manage the challenge of designing a compensation system for its international workforce. The empirical study, conducted in a cooperative of the Mondragon Corporation, reveals how such a challenge is conceived as one of finding a system that combines international business performance with the need to respect and maintain the cooperative' identity. From that understanding, they adopt a number of management decisions and criteria for the distribution of rewards and the justification of unequal working conditions among the international assignees very different from the mainstream ones in conventional firms. The study concludes by highlighting the usefulness of adopting an interpretive research design to study the under-research management challenges facing social enterprises.

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Chliova, M., Mair, J. & Vernis Domènech, A. (2020). Persistent category ambiguity: The case of social entrepreneurship. Organization Studies, 41 (7), pp. 1019-1042. DOI: 10.1177/0170840620905168. IF: 3.543 (2018) Cuartiles: Q1 Management ABS: 4 (2018) CARHUS: A (2018) ESADE: 4 (2015) FT50 (2017) Literature on categories recognizes that in the early stages of a category, ambiguity can arise from divergent frames used to define the category. Yet it also largely expects this ambiguity to be either temporary, or else detrimental to the survival and evolution of the category. In this study, we demonstrate and explain how, alternatively, category ambiguity can persist when multiple frames continue to be applied to a category as it progresses into maturity. Drawing on an in-depth qualitative study of the case of social entrepreneurship, we examine how and under what conditions this outcome occurs. We specify two co-occurring conditions that prompt category stakeholders to shift their framing from exclusive to inclusive, enabling category ambiguity to persist. We furthermore show how the use of category frames that draw from preexisting resonant categories supports the persistence of category ambiguity. We contribute to literature on categories by clarifying the antecedents of category evolution towards a trajectory of persistent ambiguity.

Durach, C. & Wiengarten, F. (2020). Supply chain integration and national collectivism. International Journal of Production Economics, (224), pp. 107543-107543. DOI: 10.1016/j.ijpe.2019.107543. IF: 4.998 (2018) Cuartiles: Q1 Engineering, Industrial Q1 Engineering, Manufacturing Q1 Operations Research & Management Science ABS: 3 (2018) CARHUS: A (2018) Integration at an intra-organizational and supply chain (SC) level has been well studied to determine its benefits and drawbacks. The foundation of these studies is their assumption that managers choose integration based on economic considerations. Following the behavioral theory of the firm (BTF), strategic decisions are not always based on economics but are subject to the usual phenomena associated with aspirational levels. In this respect, the potential influence and consequences of national culture-building aspiration levels on the integration choice of decisionmakers remain unrecognized. This study researches the relationship between national collectivism values and the observed internal and external SC integration (SCI) of companies. We postulate that national collectivism values generate an aspirational need that moves integration-as a potential choice to satisfy this need-more into decisionmakers' focus. We explore the influence of two dimensions of a national culture of collectivism values (in-group and institutional) on decisionmakers' choice of higher or lower degrees of plant-level integration.

In addition, we explore the operational performance efficacy of firms' integration practices. We combine data from two multi-country datasets, using mixed-effect models to analyze data from seven countries. The results indicate national collectivism values are positively related with plant-level use of internal but not of external SCI. Furthermore, SCI is positively related to operational performance. The study supports and extends BTF. It supports the assumption of behavioral forces in modern firms' decision making and adds national culture as an external force to the theory.

Fainshmidt, S, Witt, M. A., Aguilera VaquĂŠs, R. & Verbeke, A. (2020). The contributions of qualitative comparative analysis (QCA) to international business research. Journal of International Business Studies, 51 (4), pp. 455-466. DOI: 10.1057/s41267-020-00313-1. IF: 7.724 (2018) Cuartiles: Q1 Business Q1 Management ABS: 4* (2018) CARHUS: A (2018) ESADE: 4 (2015) FT50 (2017) International business (IB) researchers have been slow to embrace a configurational approach in hypothesis formulation and empirical analysis. Yet, much of what IB scholars study is inherently configurational: various explanatory factors and their interplay simultaneously determine the outcome(s) studied, such as governance choice or firm-level performance. The mismatch between the nature of the empirical phenomena studied on the one hand, and hypothesis formulation and empirical methods deployed on the other, explains why many quantitative empirical studies in IB are overly reductionist, relying on hypotheses that assume linear (or simple, curvilinear), unifinal, and symmetrical effects. In this Editorial, we introduce IB scholars to contemporary configurational thinking and its analytical tool, fuzzy-set

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qualitative comparative analysis (fsQCA). We discuss this tool's main tenets, advantages, and disadvantages. We review the limited prior IB research using this approach and present a wide range of IB phenomena where it could be usefully applied. We propose that contemporary configurational thinking and fsQCA can help scholars produce insights more closely aligned with the complex realities of international business than conventional research approaches.

Filatotchev, I., Aguilera VaquĂŠs, R. & Wright, M. (2020). From governance of innovation to innovations in governance. Academy of Management Perspectives, 34 (2), pp. 173-181. DOI: 10.5465/amp.2017.0011. IF: 3.857 (2018) Cuartiles: Q1 Business Q1 Management ABS: 3 (2018) CARHUS: A (2018) ESADE: 3 (2015) This essay seeks to introduce the renewed role of governance in management by adopting an open-systems approach. We discuss how governance plays a key role in current firm innovation efforts as well as how governance practices have evolved and needed to innovate as a result of major societal and economic transformations that are reflected in organizations. The aim of this essay is to bring together more recent leading advances in the fields of governance, strategy, and innovation to discuss the extent to which the institutional, technological, organizational, and competitive environments in which firms operate have changed, and the implications of these changes with regard to the complex interrelationships between innovation and corporate governance. This paper introduces the Symposium, which gathers critical essays on innovations in governance from different viewpoints and engaging interdisciplinary perspectives.

Hadi, R. & Valenzuela MartĂ­nez, A.M. (2020). Good vibrations: Consumer responses to technologymediated haptic feedback. Journal of Consumer Research, 47 (2), pp. 256-271. DOI: 10.1093/jcr/ucz039. IF: 4.701 (2018) Cuartiles: Q1 Business ABS: 4* (2018) CARHUS: A (2018) ESADE: 4 (2015) FT50 (2017) BW20 (2012) Individuals often experience incidental device-delivered haptic feedback (e.g., vibrational alerts accompanying messages on mobile phones and wearables), yet almost no research has examined the psychological and behavioral implications of technology-mediated touch on consumers. Drawing from theories in social psychology and computer science, we explore how device-delivered haptic feedback may have the capability to augment consumer responses to certain consumer-directed communications. Across four studies, we find that haptic alerts accompanying messages can improve consumer performance on related tasks and demonstrate that this effect is driven by an increased sense of social presence in what can otherwise feel like an impersonal technological exchange. These findings provide applied value for mobile marketers and gadget designers, and carry important implications for consumer compliance in health and fitness domains.

Hohberger, J., Kruger, H & Almeida, P. (2020). Does separation hurt? The impact of premature termination of R&D alliances on knowledge acquisition and innovation. Research Policy, 49 (6), pp.

103944- 103945 . DOI: 10.1016/j.respol.2020.103944. IF: 5.425 (2018) Cuartiles: Q1 Management ABS: 4* (2018) CARHUS: A (2018) FT50 (2017) While there is vast research on alliance formation linked to knowledge acquisition and innovation, research is limited on the impact of alliance termination on these same dimensions. Addressing this gap and building on the knowledge-based view of the firm, we analyze the impact of premature alliance termination on knowledge acquisition and innovation outcomes. We apply a difference-in-differences and matching-based estimation to a sample of terminated and non-terminated R&D alliances in the life sciences. Our analysis suggests that alliance termination reduces innovation performance and that innovation output becomes less technologically diverse, while knowledge acquisition becomes less

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externally oriented. However, we find no relevant drop in acquisition of knowledge from alliance partners post alliance termination. Our exploration of conditional effects shows that firm-level factors, particularly a firm's alliance portfolio, moderate termination effects, while alliancespecific conditions have little impact.

Jia, W., Redigolo, G., Shu, S. & Zhao, J. (2020). Can social media distort price discovery? Evidence from merger rumors. Journal of Accounting and Economics, 70 (1), pp. 101334-101334. DOI: https://doi.org/10.1016/j.jacceco.2020.101334. IF: 3.753 (2018) Cuartiles: Q1 Business, Finance Q1 Economics ABS: 4* (2018) CARHUS: A (2018) ESADE: 4 (2015) FT50 (2017) We study whether social media can play a negative information role by impeding price discovery in the presence of highly speculative rumors.

We focus on merger rumors, where most do not materialize. We find that merger rumors accompanied by greater Twitter activity elicit greater immediate market reaction even though rumor-related Twitter activity is unrelated to the probability of merger realization. The price distortion associated with tweet volume persists weeks after a rumor and reverses only after eight weeks. The price distortion is more pronounced for rumors tweeted by Twitter users with greater social influence, for target firms with low institutional ownership, and for rumors that supply more details. Our evidence suggests that social media can be a rumor mill that hinders the market's price discovery of potentially false information.

Markovic, S., Jovanovic, M., Bagherzadeh Niri, M., Sancha Fernรกndez, C., Sarafinovska, M., Qiu, Yuqian & et al. (2020). Priorities when selecting business partners for service innovation: The contingency role of product innovation. Industrial Marketing Management, 88 (July 2020), pp. 378388. DOI: 10.1016/j.indmarman.2020.06.001. IF: 4.779 (2018) Cuartiles: Q1 Business Q1 Management ABS: 3 (2018) CARHUS: A (2018) ESADE: 3 (2015) Firms increasingly engage in business-to-business cooperation to develop relevant innovations. Scholars have shown that firms can improve service innovation either by cooperating with suppliers or by cooperating with competitors. However, there is a dearth of research examining the relative importance of cooperating with suppliers and competitors to improve service innovation, and how this relative importance depends on embracing product innovation. Based on a cross-industry sample of 16,062 Spanish firms, this article addresses these research gaps, finding that firms can benefit from cooperating with both suppliers and competitors to boost service innovation, without prioritizing either.

However, this article also shows that, if firms embrace product innovation, they should prioritize cooperating with competitors to boost service innovation.

Rosell Segura, J. & Saz Carranza, A. (2020). Determinants of public-private partnership policies.

Public Management Review, 22 (8), pp. 1171-1190. DOI: 10.1080/14719037.2019.1619816. IF: 3.162 (2018) Cuartiles: Q2 Management Q1 Public Administration ABS: 3 (2018) CARHUS: A (2018) ESADE: 3 (2015) This article analyses the determinants of a country's PPP policies. Using the World Bank's 135-country Procuring Infrastructure PPPs 2018 database, we examine the role of legal traditions, European Union membership, transparency and macroeconomic indicators on the policies governing the adoption, procurement and management of PPPs in infrastructures. We find that transparency has a positive effect on the quality of PPP policies. Scandinavian countries are reluctant to enter into PPPs, while European Union legislation has a positive impact only on the procurement process. Macroeconomic indicator effects are weak on PPP score; larger government's revenues reduce country's PPP appetite.

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Sancha Fernández, C., Wiengarten, F., Longoni, A. & Pagell, M. (2020). The moderating role of temporary work on the performance of lean manufacturing systems. International Journal of Production Research, 58 (14), pp. 4285-4305. DOI: 10.1080/00207543.2019.1651458. IF: 3.199 (2018) Cuartiles: Q2 Engineering, Industrial Q2 Engineering, Manufacturing Q1 Operations Research & Management Science ABS: 3 (2018) ESADE: 3 (2015) Companies are extensively employing lean manufacturing practices and temporary work, which at face value are in stark contrast to each other. While lean manufacturing emphasises the value of workers, temporary work refers to precarious work arrangements that, based on social exchange theory, may harm workers' commitment. The objective of this paper is to unveil the role of temporary work on the lean manufacturing - operational performance (i.e. cost, quality, delivery, flexibility) relationship. To answer our research question and test our hypotheses we utilise cross-country data collected through the sixth iteration of the International Manufacturing Strategy Survey and conduct multilevel regression analysis. Our results indicate that while lean manufacturing improves operational performance, the use of temporary work positively influences the relationship between lean manufacturing and mix and volume flexibility performance.

Saz Carranza, A., Albareda Sanz, A. & Federo, R. (2020). Network tasks and accountability: A configurational analysis of EU regulatory networks. Public Administration, 98 (2), pp. 480-497. DOI: 10.1111/padm.12631. IF: 2.600 (2018) Cuartiles: Q1 Political Science Q2 Public Administration ABS: 4 (2018) CARHUS: A (2018) ESADE: 4 (2015) Intergovernmental networks have become a prominent cooperative mechanism to deal with trans-boundary and interdependent problems. Yet, we still have limited knowledge of how these collaborative endeavors are governed, which is crucial to properly understanding how they function. This paper empirically examines the structural governance configurations of rule¿enforcing networks in the European Union. The paper relies on data from 37 networks with rule-enforcing task and conducts a qualitative comparative analysis. We find three basic governance structure configurations used by rule¿enforcing networks: first, a configuration with legal accountability, which is characterized by having a board of appeals; second, one with administrative accountability that, in addition to a board of appeals, has powerful executive boards and professional experts in the network plenary; and a third one with democratic accountability that incorporates legislative representatives in the network plenary. We argue that these results show how network tasks are related to accountability and governance.

Surroca, J. A., Aguilera Vaqués, R., Desender, K. & Tribó, J. A. (2020). Is managerial entrenchment always bad and corporate social responsibility always good? A cross¿national examination of their combined influence on shareholder value. Strategic Management Journal, 41 (5), pp. 891-920. DOI: 10.1002/smj.3132. IF: 5.572 (2018) Cuartiles: Q1 Business Q1 Management ABS: 4* (2018) CARHUS: A (2018) ESADE: 4 (2015) FT50 (2017) BW20 (2012) Building on the comparative capitalism's notion of institutional complementarities, we examine whether firms' simultaneous adoption of managerial entrenchment provisions (MEPs) and corporate social responsibility (CSR) reinforces or undercuts one another in influencing firm financial performance. We propose that the financial impact of such configurations is contingent on the country's institutional setting. In Liberal Market Economies (LMEs), where firms face strong pressures to achieve short¿term goals, the combination of MEPs and CSR creates shareholder value, particularly when firms engage in internally oriented CSR projects. Conversely, in Coordinated Market Economies (CMEs), where institutions already curb short¿term demands, the combined adoption of MEPs and CSR initiatives destroys shareholder value, particularly when this CSR is external. Overall, our study enhances understanding of the institutional complementarity between corporate governance and CSR.

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Timeus, K., Vinaixa Serra, J. & Pardo-Bosch, F. (2020). Creating business models for smart cities: A practical framework. Public Management Review, 22 (5), pp. 726-745. DOI: 10.1080/14719037.2020.1718187 . IF: 3.162 (2018) Cuartiles: Q2 Management Q1 Public Administration ABS: 3 (2018) CARHUS: A (2018) ESADE: 3 (2015) Smart cities can use business models to evaluate what value they offer citizens by integrating ICT into their infrastructure and services. The article introduces the concept of the 'city business model' and proposes a practical framework for analysing it. The City Model Canvas (CMC)based on the Business Model Canvas for firms-shows the elements that city councils should consider during the design, delivery and assessment of smart services, including the smart service's expected economic, environmental and social impacts. An example of how the CMC was used to design an ICT platform in Bristol shows its utility as a planning tool.

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QUARTILE 2

Anderson, P., Jane Llopis, E. & Rehm, J. (2020). Evaluation of alcohol industry action to reduce the harmful use of alcohol: Case study from Great Britain. Alcohol and Alcoholism, 55 (4), pp. 424432. DOI: 10.1093/alcalc/agaa029. IF: 2.777 (2018) Cuartiles: Q2 Substance Abuse CARHUS: B (2018) Aims. To describe a case study in the British market of one of the global beer-producing companies that has set a target to increase the proportion of its products with an alcohol by volume (ABV) of 3.5% or less, and to reduce the mean ABV of its beer products.

Methods. Descriptive statistics and time-series analyses using Kantar Worldpanel's British household purchase data for 2015-2018.

Results. As assessed by British household purchase data, 15.7% of the company's beer products had an ABV of 3.5% or less in 2018, compared with 8.8% in 2015. The mean ABV of its beer products dropped from 4.69 in 2015 to 4.55 in 2018. Associated with these changes, the increase in purchased grams of alcohol in all beer that occurred during 2015-2016 (standardized coefficient = 0.007), plateaued during 2017 (standardized coefficient = Âż0.006) and decreased during 2018 (standardized coefficient = Âż0.034). Similar findings applied to the purchased grams of alcohol in beer other than ABI beer, suggesting some switching from other beer products to ABI products; and in all alcohol, suggesting, on balance, no overall switching to higher strength products. Greater decreases in purchases were found in the younger age groups, the highest purchasing households in terms of grams of alcohol, class groups D and E, and Scotland; there was no clear pattern by household income.

Conclusions. The proportion of the company's beer purchased in Great Britain that had an ABV of 3.5% or less increased since the launch of the target, and the mean ABV of its beer products decreased. The changes were associated with reduced purchases of grams of alcohol within its beer products. The associated reductions in purchases of alcohol in all beer and in all alcohol products suggest no evidence of overall switching to other higher strength beer or alcohol products. Other beer-producing companies should undertake similar initiatives. A regulatory tax environment should be introduced to ensure a level-playing field favouring lower alcohol concentration across all beer and other alcohol products.

Barone Adesi, G., Fusari, N., Mira, A. & Sala, C. (2020). Option market trading activity and the estimation of the pricing kernel: A Bayesian approach. Journal of Econometrics, 216 (2), pp. 430-449.

DOI: 10.1016/j.jeconom.2019.11.001. IF: 1.949 (2018) Cuartiles: Q2 Economics Q2 Mathematics, Interdisciplinary Applications Q2 Social Sciences, Mathematical Methods ABS: 4 (2018) CARHUS: A (2018) We propose a nonparametric Bayesian approach for the estimation of the pricing kernel. Historical stock returns and option market data are combined through the Dirichlet Process (DP) to construct an option-adjusted physical measure. The precision parameter of the DP process is calibrated to the amount of trading activity in deep-out-of-the-money options. We use the option-adjusted physical measure to construct an option-adjusted pricing kernel. An empirical investigation on the S&P 500 Index from 2002 to 2015 shows that the option-adjusted pricing kernel is consistently monotonically decreasing, regardless of the level of volatility, thus providing an explanation to the well known U-shaped pricing kernel puzzle.

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Bertini, M., Halbheer, D. & Koenigsberg, O. (2020). Price and quality decisions by self-serving managers. International Journal of Research in Marketing, 37 (2), pp. 236-257. IF: 3.320 (2018) Cuartiles: Q2 Business ABS: 4 (2018) CARHUS: B (2018) ESADE: 3 (2015) We present a theory of price and quality decisions by managers who are self-serving. In the theory, firms stress the price or quality of their products, but not both. Accounting for this, managers exploit any uncertainty about the cause of market outcomes to credit positive results to the dominant, "strategic" factor and blame negative results on the other-as doing so is psychologically rewarding. The problem with biased attributions, however, is that they prompt biased decisions. We motivate this argument with evidence from one experiment and then develop a model to understand the cost of the bias under different market conditions. Counter to intuition, we find that firms in a competitive setting can profit from the self-serving nature of their managers.

Kauff, M, Schmid, K. & Christ, O. (2020). When good for business is not good enough: Effects of pro-diversity beliefs and instrumentality of diversity on intergroup attitudes. PLOS ONE, 15 (6), pp. e0234179-e0234179. DOI: 10.1371/journal.pone.0234179. IF: 2.776 (2018) Cuartiles: Q2 Multidisciplinary Sciences Instrumentality-based pro-diversity beliefs (i.e., beliefs that diverse groups outperform homogenous groups in terms of group functioning) have been shown to improve intergroup attitudes. However, such valuing of diversity due to its expected instrumentality holds the risk that outgroups may be devalued in situations when diversity ends up being detrimental to group functioning. Across four experiments, we studied the interplay between instrumentality-based pro-diversity beliefs, actual instrumentality of ethnic diversity, and outgroup attitudes.Our results do not reveal a robust interaction effect between instrumentality-based pro-diversity beliefs and actual instrumentality of diverse groups.

Some evidence, however, supports the assumption that instrumentality-based pro-diversity beliefs yielded a weaker positive or even a negative effect on ethnic outgroup attitudes when ethnic diversity was perceived as non-instrumental (i.e., when diversity was perceived as having a negative impact on group functioning). Theoretical contributions, practical implications, and directions for future research are discussed.

Meier, V. & Schiopu, I. (2020). Enrollment expansion and quality differentiation across higher education systems. Economic Modelling, 90 (August 2020), pp. 45-53. DOI: 10.1016/j.econmod.2020.04.020. IF: 2.056 (2018) Cuartiles: Q2 Economics ABS: 2 (2018) While the impact of a higher college wage premium on enrollment expansion is well understood, the link between university quality differentiation and student outcomes in this context has received less attention. To address this issue, we model different higher education systems. Academic standards decline in a differentiated, U.S.-type education system - as a low-quality segment emerges - but also in a system in which a uniform standard is politically determined, as in most European countries, since the interests of marginal students matter for the chosen standard. In the absence of full information about graduates' skills, employers put more weight on university reputation than on individual human capital signal. Thus, higher differentiation can decrease the effort and skill of medium-ability students. Obtaining the preferred academic standard is particularly important for high-and low-ability students, hence the trend toward more unequal societies raises political support for strongly differentiated systems.

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Rodriguez-Bustelo, C., Batista-Foguet, J. & Serlavós Serra, R. (2020). Debating the future of work: The perception and reaction of the Spanish workforce to digitization and automation technologies.

Frontiers in Psychology, 11 (Aug 2020), pp. 1965-1965. DOI: 10.3389/fpsyg.2020.01965. IF: 2.129 (2018) Cuartiles: Q2 Psychology, Multidisciplinary Given the significant changes that are expected in the nature of work as a consequence of rapid technological advances, it is crucial that society finds ways to maximize benefits while recognizing and mitigating related challenges. This article is intended to fill a current research gap in this context by examining how aware and prepared affected workers are for the challenges predicted by research. This information is crucial since expectation and preparation of the workforce will significantly influence society's adaptability to the future. As a result of the article various significant relationships among workers' characteristics and their attitude towards automation could be identified. The interviewed workers' level of fear appears to have very little influence on preparation for automation-driven changes in the future while perceived opportunity significantly impacts this degree of preparation. Characteristics that additionally most influence the degree of preparatory steps taken by respondents are their level of education as well as work complexity and position. These findings should be used to identify potential ways for relevant stakeholders to adequately prepare for and meet the challenges of the impending increase of automation in the workplace.

Romboli, S. (2020). Un nuevo orden de prioridad en caso de violación simultanea de la Constitución y de la Carta de los Derechos Fundamentales de la Unión: la «sugerencia» de la Corte costituzionale a los jueces nacionales. Revista Española de Derecho Constitucional, 2020 (119), pp.

299-332. IF: 1.200 (2018) Cuartiles: Q2 Law CARHUS: A (2018) ESADE: 3 (2015) Los efectos directos y la fuerza vinculante de la Carta de los Derechos Fundamentales de la Unión Europea suponen que un número creciente de cuestiones prejudiciales planteadas por los jueces nacionales ordinarios ante el Tribunal de Justicia de la Unión Europea tenga por objeto la interpretación de los derechos fundamental ahí protegidos. El hecho de que la mayoría de los derechos de la Carta estén reconocidos también por las constituciones nacionales puede llevar a que el mismo juez tenga dudas sobre la conformidad de la norma relevante para resolver un caso concreto tanto con la Constitución de su país como con la Carta. El presente trabajo reconstruye en sentido crítico las etapas de la jurisprudencia constitucional italiana aplicable a los casos de «doble prejudicialidad» como el descrito. En particular, el artículo se centra en nueva doctrina de la Corte constitucional en esta materia inaugurada con la sentencia 269/2017, y sus trascendentes consecuencias sobre el diálogo entre tribunales.

Rovelli, P., Rossi-Lamastra, C., Longoni, A. & Cagliano, R. (2020). TMT organizational configurations and opportunity realization in established firms: An exploratory analysis. Long Range Planning, 53 (3), pp. 101972-101972. DOI: 10.1016/j.lrp.2020.101972. IF: 3.363 (2018) Cuartiles: Q2 Business Q2 Management ABS: 3 (2018) CARHUS: A (2018) ESADE: 3 (2015) This paper studies the relationship between the opportunity realization of established firms and the organization of their top management teams (TMTs). We first consider six key organizational elements of TMTs and show how they combine in TMT organizational configurations. Then, we analyse how these configurations relate to the opportunity realization, also distinguishing be- tween innovation and organizational change opportunities. Using a sample of 237 Italian firms collected through a survey of CEOs, we identify three well defined TMT organizational configurations: CEO-centric TMT, integrated TMT, and incentive-based TMT. The results from econometric models show that firms with an integrated TMT or an incentive-based TMT are generally better able to realize opportunities. Both the integrated TMT and the incentive-based TMT seem to have a positive impact on the realization of innovation opportunities, whereas the CEO-centric TMT positively relates only to organizational change opportunities. Our results contribute to the body of knowledge on how organizational design influences entrepreneurial behaviours/outcomes of established firms.

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Sands, S., Campbell, C. L., Shedd, L., Ferraro, C. & Mavrommatis, A. (2020). How small service failures drive customer defection: Introducing the concept of microfailures. Business Horizons, 63 (4), pp. 573-584. DOI: 10.1016/j.bushor.2020.03.014. IF: 2.828 (2018) Cuartiles: Q2 Business ABS: 2 (2018) CARHUS: A (2018) ESADE: 2 (2015) Service that falls below customer expectations is framed as a service failure. While many researchers have investigated service failures, they have tended to focus on large service failures. This is likely because large failures are more noticeable by firms and more likely to prompt customer complaints than small failures. However, we argue that smaller service failures can cause as much damage as larger failures, and in some cases even more. We introduce the concept of service microfailures, which we define as instances when a customer's expectations go unmet in some small way. While minor in isolation, repeated service microfailures that go unnoticed and unrecovered can compound in effect and drive customer defection. For this reason, we propose that service microfailures are a potentially much larger managerial problem than they may appear on the surface. In this article, we conceptualize microfailures as a distinct form of service failure and outline the mechanism through which they cause damage. We then develop a multifaceted approach through which managers can detect, repair, and prevent service microfailures.

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QUARTILE 3

Bagherzadeh Niri, M., Markovic Markovic, S., Cheng, J. & Vanhaverbeke, W. (2020). How does outside-in open innovation influence innovation performance? Analyzing the mediating roles of knowledge sharing and innovation strategy. IEEE Transactions on Engineering Management, 67 (3), pp. 740-753. DOI: 10.1109/TEM.2018.2889538. IF: 1.867 (2018) Cuartiles: Q3 Business Q3 Engineering, Industrial Q3 Management ABS: 3 (2018) Embracing outside-in open innovation (OI) can result in a plethora of organizational advantages, including improved innovation performance.

Although some studies have found that outside-in OI improves innovation performance, others have shown that it has no effect or even a negative effect. This mixed empirical evidence leads to a need to unpack the relationship between outside-in OI and innovation performance, and to examine how certain key mediating variables related to the outside-in OI process can ensure that outside-in OI turns into improved innovation performance. Thus, this paper aims to examine the influence of outside-in OI on innovation performance considering the mediating roles of knowledge sharing and innovation strategy. This paper draws on a cross-industrial sample of 112 firms. Data are analyzed using a set of ordinary-least-squares regression models and the bootstrap procedure. Results show that knowledge sharing and innovation strategy fully mediate the relationship between outside-in OI and innovation performance.

Reyes, A. & Esteve Laporta, M. (2020). Key mechanisms of the accountability process in publicprivate partnerships. Revista de Contabilidad-Spanish Accounting Review (RC-SAR), 23 (2), pp. 210223. DOI: 10.6018/rcsar.369621 . IF: 1.250 (2018) Cuartiles: Q3 Business, Finance CARHUS: C (2018) This article brings together empirical academic research on accountability in Public-Private Partnerships (PPPs). Via a systematic literature review, we explored how well grounded are concerns about PPPs eroding accountability. We investigated over 50 publications on PPPs, published between 1983 and 2017. These studies were analysed in lights of a categorisation framework of publications to map out the process through which accountability takes place in practice for PPPs. Four key accountability mechanisms stand out in our analysis: behaviour, information, evaluation and sanction. Based upon this analysis, we identified four main account-holders and the mechanisms they employ to participate in the overall accountability process of PPPs. Since none of them can exert full control over the mechanisms of accountability available to them, we argue that this unbalanced and chaotic state of contradicting and overlapping demands of accountability indeed generates accountability deficits, but it can be turned into an advantage if interdependency and complementarity between accountholders is further validated.

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Sala, C. & Barone Adesi, G. (2020). Sentiment lost: The effect of projecting the pricing kernel onto a smaller filtration set. Stochastic Analysis and Applications, 38 (4), pp. 686-707. DOI: 10.1080/07362994.2019.1711119. IF: 0.878 (2018) Cuartiles: Q3 Mathematics, Applied Q3 Statistics & Probability This paper provides a theoretical analysis on the impacts of using a suboptimal information set for the estimation of the pricing kernel and, more in general, for the validity of the fundamental theorems of asset pricing. While inferring the risk-neutral measure from options data provides a naturally forward-looking estimate, extracting the real world measure from historical returns is only partially informative, thus suboptimal with respect to investors' future beliefs. As a consequence of this disalignment, the two measures no longer share the same nullset, thus distorting the investors' risk premium and the validity of the pricing measure. From a probabilistic viewpoint, the missing beliefs are totally unaccessible stopping times on the coarser filtration set, so that an absolutely continuous strict local martingale, once projected on it, becomes continuous with jumps. Some empirical examples complete the paper.

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QUARTILE 4

Parada , M., Samara, G., Dawson, A. & Bonet Guinรณ, E. (2020). Prosperity over time and across generations: The role of values and virtues in family businesses. Journal of Organizational Change Management, 33 (4), pp. 639-654. DOI: 10.1108/JOCM-11-2018-0341. IF: 1.185 (2018) Cuartiles: Q4 Management ABS: 2 (2018) Despite the great importance attributed to values in the family business, few studies have focused on their importance and on how such values influence the way family businesses behave over time. Using Aristotelian virtues as our main framework, we aim to understand what motivates both family members and business families to perform virtuous acts, therefore, observing the underlying beliefs at both levels of analysis that make individuals and families repeatedly behave in a way that reflects the pursuit of excellence of character. We rely on a qualitative methodology, following an interpretive approach. Based on the narratives of family members from two Spanish family businesses, we abductively analyze how values and virtues in family businesses allow them to cope with changes across generations. Findings suggest that family businesses that have survived heavy crises have been able to overcome these critical moments in part due to their strong virtues - both at individual and at family level - where so-called four cardinal virtues have been present for example through the achievement of collective goals and adherence to a stated mission, as well as through behaviors that have been aimed at improving and benefiting the community.

Practical Implications: Values are the basis for all businesses. Understanding the type of values, as well as the underlying virtues, is important for business families to perpetuate those that allow the family business to thrive. This paper contributes to the family business field by exploring a key understudied dimension that determines family business survival over time and across generations. It brings to the forefront virtues and values that are rarely studied in this setting despite their great importance, using narratives a as key element for values transmission as well as a research method that allows getting deeper insights about specific processes.

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OTHER ARTICLES IN ESADE RECOMMENDED LIST:

1*

Sábada, T., Sanmiguel, P., Casabayó, M., Gallo, Í., Luis Bassa, C., Carreras, F. & et al. (2020).

Sumando ideas 'Marketing' de 'Influencers': ¿Tiene realmente el impacto esperado?. Harvard Deusto Business Review, (302), pp. 32-35. CARHUS: D (2018) ESADE: 1 (2011) Hacia un nuevo modelo de relación. La pandemia de la COVID-19 ha sido el punto de inflexión que ha obligado (o permitido) a un tipo determinado de "influencers" y a marcas concretas a adaptarse a las circunstancias y explorar nuevas iniciativas. ¿Cómo crear un nuevo modelo de relación con los influencers?

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ACADEMIC PEER REVIEWED & PROFESSIONAL JOURNALS

Bayona, A., Brandts , J. & Vives , X. (2020). Information frictions and market power: A laboratory study. Games and Economic Behavior, 122 (July 2020), pp. 354-369. DOI: 10.1016/j.geb.2020.04.014.

In a laboratory experiment with supply function competition and private information about correlated costs we study whether cost interdependence leads to greater market power in relation to when costs are uncorrelated in the ways predicted by Bayesian supply function equilibrium. We find that with uncorrelated costs observed behavior is close to the theoretical benchmark. However, with interdependent costs and precise private signals, market power does not raise above the case of uncorrelated costs contrary to the theoretical prediction. This is consistent with subjects not being able to make inferences from the market price when costs are interdependent. We find that this effect is less severe when private signals are noisier.

Boonstra, J. J. (2020). The end of planned change: Can we play together. Holland Management Review, 191 (37), pp. 13-21.

In de meeste organisaties kiezen managers voor een rationele en geplande aanpak van verandering. Maar past gepland veranderen nog wel als organisaties geconfronteerd worden met onzekerheden? Het is tijd voor een ander perspectief op het veranderen van organisaties. Voor organisaties in een dynamische wereld die zich willen kwalificeren voor de toekomst is veranderen als spel een aantrekkelijk alternatief. Deze invalshoek behelst dat er spelers zijn die samenspelen in verandering en daaraan plezier beleven. Spelers verbeelden zich de toekomst, zoeken hun weg in een onzekere wereld en zetten zich in om hun toekomst gestalte te geven. Het gaat om een collectief zoekproces waarin spelers hun eigen toekomst creĂŤren en duurzame veranderingen realiseren.

Naimi, A., Arenas Vives, D. & Kickul, J. R. (2020). Too emotional to succeed: Entrepreneurial storytelling in a prosocial setting. Academy of Management Proceedings, 2020 (1), pp. 19044-19044.

DOI: 10.5465/AMBPP.2020.19044abstract.

In a prosocial crowdfunding setting, the ability of entrepreneurs to mobilize support through their stories is crucial since their livelihoods often depend on it. We examine how cognitive and emotional appeals in stories affect resource mobilization outcomes in a sample of 2098 entrepreneurs in 55 countries who requested a loan via a prosocial crowdfunding platform. Our study suggests that using analytical language in entrepreneur stories mobilizes support attracting more resources and using affective language in entrepreneur stories is detrimental attracting less resources, especially in the case of negative emotions. Our study contributes to the entrepreneurship and social entrepreneurship literatures by showing the effectiveness of cognitive and emotional appeals -distinguishing between positive and negative emotions- in mobilizing support in a context that combines aspects of traditional crowdfunding and social entrepreneurship."

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Naimi, A., Hehenberger, L., Bacq, S. C. & Kickul, J. R. (2020). How social entrepreneurs with a migrant background create opportunities for their own community. Academy of Management Proceedings, 2020 (1), pp. 18946-18946. DOI: 10.5465/AMBPP.2020.18946abstract.

Social entrepreneurs from marginalized communities who are at the center of the issues they aim to address are engaging in opportunity creation processes to tackle large scale societal challenges. This qualitative study explores how social entrepreneurs with a migrant background create opportunities to address migration issues and how their actions relate to their identity. We found that their approach towards opportunity creation and their identity are entangled with and emanate from three main problems, namely adversities that migrants face, exclusion from solutions, and the stigma associated with the label "migrant." The social entrepreneurs develop three interrelated mechanisms that are mutually reinforcing: navigating multiple systems by accessing resources through adaptive perseverance and by having an interconnected view; including the excluded by building bridges with an insider understanding and by having an empathic comprehension; and empowering their own community by elevating the status of the migrant community and by reclaiming their own identity. Our study shows how opportunity creation is influenced by and in turn influences the entrepreneur's social identity contributing to the entrepreneurship and social entrepreneurship literatures by building on concepts that have viewed entrepreneurship as a form of necessity and by developing our understanding of social entrepreneurs' opportunity creation process."

Romboli, S. (2020). El conflicto entre identidad nacional y Derecho de la Unión Europea en el caso Coman: el Tribunal de Justicia añade otra pieza fundamental para la protección de las parejas homosexuales frente a la discriminación . Revista de Derecho Constitucional Europeo, (33), pp. 120.

El presente trabajo de investigación pretende analizar un caso específico de "dialogo entre Tribunales": el caso Coman entre el Tribunal constitucional rumano y el Tribunal de Justicia de la Unión Europea. Este asunto concreto permite razonar sobre dos problemáticas especialmente interesantes. De un lado, el caso Coman proporciona nuevas claves de lectura del criterio de la "identidad nacional" reconocido en los Tratados UE. De otro, a través de la defensa de algunas de las libertades "clásicas" de la Unión (la libre circulación y residencia de los ciudadanos UE y de sus familiares) el TJUE ha añadido una pieza fundamental para la creación y consolidación del estatus jurídico de las parejas homosexuales en Europa, esto es, para su plena identificación y equiparación con el estatus jurídico de las parejas heterosexuales, con la finalidad de obtener el respeto real y efectivo del principio de igualdad y no discriminación en razón de la orientación sexual.

Romboli, Silvia (2020). La disciplina dell'eutanasia passiva e l'attuale proposta di regolamentazione dell'eutanasia attiva in Spagna . Quaderni Costituzionali: Rivista Italiana di Diritto Costituzionale, 2020 (2), pp. 417-420.

In Spagna, così come accaduto in altri Paesi seppure in tempi, termini e modi differenti, si sono posti entrambi i fenomeni denominati eutanasia passiva ed attiva e, mentre per il primo possiamo ritenere che si sia ormai pervenuti ad una soluzione, quasi definita, per la seconda è in corso un ampio dibattito e proprio nel mese di gennaio 2020 il Congresso dei deputati si è pronunciato su una proposta di legge organica presentata dal gruppo parlamentare socialista. L'articolo presenta uno studio relativo alla disciplina dell'eutanasia passiva e all'attuale proposta di regolamentazione dell'eutanasia attiva in Spagna.

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BOOKS

INTERNATIONAL PUBLISHERS

Bertini, M. & Koenigsberg, O. (2020). The ends game: How smart companies stop selling products and start delivering value. Cambridge: MIT Press.

Would you rather pay for healthcare or for better health? For school or education? For groceries or nutrition? A car or transportation? A theater performance or entertainment? In The Ends Game, Marco Bertini and Oded Koenigsberg describe how some firms are rewriting the rules of commerce: instead of selling the "means" (their products and services), they adopt innovative revenue models to pursue "ends" (actual outcomes). They show that paying by the pill, semester, food item, vehicle, or show does not necessarily reflect the value that customers actually derive from their purchases. Revenue models anchored on the ownership of products, they argue, are patently inferior. Bertini and Koenigsberg explain that advances in technology have made it possible for firms to collect "impact data" that tells them when and how customers use their products and how those products perform, and that firms can draw on this data to turn products into seamless services.

New revenue models will enable transparency, accountability, and efficiency. Bertini and Koenigsberg offer real-world examples of how companies in healthcare, transportation, education, and other sectors are already playing "the ends game," describing, among other things, the successes of Dollar Shave Club, Rent the Runway, and "pay as you fly" insurance for drone flights.Finally, they outline the challenges in adopting these new models, offering guidance on such issues as criteria for defining an outcome, concerns over data collection, and internal organizational obstacles.

Boonstra, J. J. (2020). Organization change as collaborative play (2nd ed.). Amsterdam: Boom Publishers.

A positive view on change and innovation in organizations: Change as Collaborative Play is a playful method for change management in organizations. It shows the dynamics in which professionals play a role and collaborate in preparing their organization for the future. The model offers inspiration and practical tools for those who want to contribute to the development of their organization and themselves. Change as Collaborative Play is essential reading for professionals, leaders, (change) managers, board members, advisors and students who are involved with change in their organizations, a crucial task in the present and future of business.

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Murillo, L. F., Pietar, K., Pujol Priego, L., Katz, A. & Wareham, J. (2020). Open Hardware Licenses: Parallels and contrasts. Open science monitor case study . Luxembourg: Publications Office of the European Union. DOI: 10.2777/641658.

The present case study examines the implications of open hardware licensing through the analysis of the four most relevant licences in current use. The case describes the differences between open hardware and Free Open Source Software (FOSS) licensing to discuss the promises and challenges of creating and fostering a culture of hardware sharing. Open licences constitute primarily a social contract that describe conditions, obligations, and constraints for the public circulation of design documentation. Finally, the case discusses open issues in open licensing, broader implications, and offer policy recommendations for open hardware adoption.

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BOOK CHAPTERS

INTERNATIONAL PUBLISHERS

Añoveros Terradas, B. (2020). Ley aplicable a las sucesiones por causa de muerte. In Barceló Compte, R. (Coord.),Pratdesaba Ricart, R. & Bosch Carrera, A. (Dirs.), Tratado del Derecho de Sucesiones vigente en España y Andorra (con alertas fiscales) (pp. 144-169). New York: Thomson Reuters.

Se trata de un capítulo que se inserta en la de la obra Tratado del Derecho de Sucesiones vigente en España y Andorra (con alertas fiscales) y que trata sobre la ley aplicable a las sucesiones por causa de muerte que presentan un elemento intencional. Se analiza la elección de ley aplicable, la ley aplicable a las disposiciones mortis causa distintas de los pactos sucesorios, la ley aplicable a los pactos sucesorios, normas especiales, la adaptación de los derechos reales, la regla de la conmoriencia, la sucesión vacante, las normas de aplicación (reenvío, excepción de orden público).

Duplá Marín, M. & García Cueto, E. (2020). La sucesión intestada en el Código Civil estatal. In Bosch Carrera, A. & Pratdesaba Ricart, R. (Dirs.), Tratado del derecho de sucesiones vigente en España y Andorra (pp. RB-18.1-RB-18.9). New York: Thomson Reuters.

El objetivo del presente capítulo es hacer una presentación completa y a la vez detallada de toda la regulación jurídica y el funcionamiento en la práctica de la sucesión intestada en el derecho estatal. Para ello se parte del concepto de sucesión intestada y su encaje y razón de ser en el sistema sucesorio español, para continuar con el funcionamiento de la misma dependiendo de los diferentes supuestos que la ley contempla, así como un análisis detallado de las normas de reparto en cada uno de los supuestos planteados.

Unceta Mendieta, I., Nin, J. & Pujol, O. (2020). Sampling unknown decision functions to build classifier copies. In Torra, V., Narukawa, Y., Nin, J. & Agell, N. (Eds.), Modeling decisions for artificial intelligence (pp. 192-204). Berlin: Springer.

Copies have been proposed as a viable alternative to endow machine learning models with properties and features that adapt them to changing needs. A fundamental step of the copying process is generating an unlabelled set of points to explore the decision behavior of the targeted classifier throughout the input space. In this article we propose two sampling strategies to produce such sets. We validate them in six well-known problems and compare them with two standard methods in terms of both their accuracy performance and their computational cost.

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Van der Byl, C., Slawinski, N. & Hahn, T. (2020). Responsible management of sustainability tensions: A paradoxical approach to grand challenges. In Laasch, O., Freeman, R. E., Suddaby, R. & Jamali, D. (Eds.), The research handbook of responsible management (pp. 438-452). Cheltenham: Edward Elgar Publishing.

As humanity faces 'grand challenges' of unprecedented scale, interrelatedness and complexity such as climate change and poverty, management research is joining global efforts to understand these challenges. Both the responsible management and sustainability literatures are well positioned to join these efforts, given that they seek to explore and enable managerial practices that balance social, environmental and economic goals. In particular, the sustainability literature has begun adopting a paradox lens for examining the tensions inherent in balancing these often disparate goals. A paradox perspective approaches tensions as contradictory, interrelated and persistent, and seeks ways to manage these tensions productively. In this chapter, we explore how a paradoxical approach to sustainability tensions has important relevance to responsible management practices for addressing grand challenges.

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NATIONAL PUBLISHERS

Rey Biel, P. (2020). ¿Cómo influye la psicología a nuestro comportamiento ante una pandemia?. In Roldan Mones, Antonio, Jimeno Serrano, J. & de la Fuente, Á. (Eds.), La economía española en tiempos de pandemia. Una primera aproximación (pp. 1-5). Barcelona: Penguin Random House.

Debate.

Las autoridades sanitarias están advirtiendo que la evolución de la epidemia de coronavirus dependerá de forma crucial del comportamiento individual responsable de todos nosotros. El comportamiento de los seres humanos ante una epidemia, como la actual de Covid-19, tiende a ser "irracional", no sólo en la acepción común del término, sino también en el sentido que otorgan los economistas a la irracionalidad, enfrentando la economía tradicional a la economía del comportamiento ("Behavioral Economics"). Si se fijan, los tres temas principales, provenientes de la Psicología, que ha incorporado la economía del comportamiento al estudio de las decisiones económicas (en sentido amplio) están presentes en la actual crisis epidemiológica

del Rey Guanter, S. (2020). Libertad de expresión e información en el contrato de trabajo. In García Murcia, J., La Constitución del trabajo (pp. 271-281). [S.l.]: KRK. Desde comienzos del siglo XX los textos constitucionales no han dejado de incluir cláusulas sobre el trabajo y la protección de las personas en situación de necesidad, unas veces enunciadas como derechos y en otras ocasiones como directrices o principios rectores de la política social y económica. Esa línea de regulación tiene mucho que ver con la consolidación del «Estado social y democrático de Derecho», atento ineludiblemente a la organización política de la sociedad pero mucho más sensible que las estructuras precedentes a las condiciones de vida y a las aspiraciones de mejora de los ciudadanos y de los grupos sociales tradicionalmente más alejados del poder. En esa forma de Estado se inscribe sin duda la Constitución española de 1978, que reconoce el derecho al trabajo, a la libre elección de profesión y a una remuneración suficiente, otorga carácter fundamental a los derechos de libertad sindical y de huelga, promueve la participación de los trabajadores en la empresa, vela por el descanso y la seguridad e higiene en el trabajo, pide a los poderes públicos una política orientada al pleno empleo, y exige la conservación de un régimen público de seguridad social para toda la población, dentro todo ello de un marco de economía de mercado presidido por la libertad de empresa pero abierto a la iniciativa pública y a la planificación para atender debidamente al interés general.

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ACCEPTED PAPERS IN ACADEMIC CONGRESSES

Arenas Vives, D., Rodón Mòdol, J. & Yter Gimeno, M. (2020, June). "Health, love and network": Creating and governing a telecommunications community network. In GRONEN Research Conference 2020, Lisbon.

Most studies at the intersection between social movements and markets focus on target selection and tactics used by activists, as well as the outcomes of these tactics. Others have studied the role of social movements in the emergence of 'moral markets'. Yet, usually they tell a story that ends with social movements being unable to keep control of the market they have created and with the introduction of market values in arenas which were previously unaffected by them. Through a case study, we show that activists can maintain the control of a newly created market segment through different processes. Most notably, we underline the translation and adoption of the common pool resource framework from Ostrom to the field of telecommunications, in connection with previously unrelated elements, in order to establish the worth of the initiative and develop governance mechanisms.

Dávila Blázquez, J. & Casabayó, M. (2020, May). The vanity behind Instagram: The hidden 'likes' to narcissism and histrionic personality. In EMAC 2020, Budapest.

In 2019, Instagram hid 'likes' to followers in the U.S. and several other countries, to lower pressure on adolescents obsessed with getting likes from peers. The move was the result of several studies showing negative effects of Instagram on young people. This article adds to those studies by testing how Instagram may increase vanity in teenagers. Vanity is at the core of many marketing campaigns in industries such as cosmetics, clothing and luxury brands. 417 university students from a South American private university were surveyed, and data were analyzed using a Structural Equation Model.

Results show that Instagram intensity is a significant predictor of vanity, and that two personality traits, vulnerable narcissism and histrionic personality, mediate the effects of Instagram on vanity. The paths related to histrionic personality were stronger than those related to vulnerable narcissism.

Forte Arcos, S. & Lovreta, L. (2020, June). Credit default swaps, the leverage effect, and cross-sectional predictability of equity and firm asset volatility. In 27th Annual Virtual Conference of the Multinational Finance Society, Gda¿sk.

We investigate the informational content of credit default swap (CDS) spreads for future volatility of (firm) assets and equity. In the crosssection, CDS spreads are significantly more informative about future asset than equity volatility. The informational content of historical and option implied volatilities is generally lower than that of CDS implied volatilities but exhibits the same pattern. We argue both theoretically and empirically that this common pattern reflects a fundamental difference in the cross-sectional predictability of asset and equity volatility. This difference lies in the leverage effect component in equity volatility, and the interconnection between leverage and asset volatility.

Ginès i Fabrellas, A. (2020, May). Elaboración de perfiles y decisiones automatizadas en el ámbito laboral: 10 preguntas y respuestas. In Impacte de les tecnologies en les relacions laborals, DIGICAB y Digital Future Society, Barcelona.

La finalidad de la ponencia invitada "Elaboración de perfiles y decisiones automatizadas en el ámbito laboral: 10 preguntas y respuestas" realizada en el webinar Impacte de les tecnologies en les relacions laborals, organizado por DIGICAB y Digital Future Society, fue analizar la regulación sobre la elaboración de perfiles y las decisiones automatizadas en el ámbito laboral.

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Hahn, T., Sharma, G. & Glavas, A. (2020, June). Being one's own master? Employees' experience of and response to tensions in CSR. In GRONEN Research Conference 2020, Lisbon.

Individual organizational actors regularly face tensions where opposite concepts or behaviors push and pull against one another.

Prior work on individuals' responses to tensions has focused on cognitive or on structural approaches. While cognitive approaches mainly focus on leaders and managers assuming unbridled agency of individuals, structural approaches highlight the lack of individuals' agency vis-à-vis tensions. In this paper, we adopt an employee perspective and problematize these previous assumptions of agency to develop a more nuanced conceptual account of employees' experience of and response to organizational tensions. Using personorganization (P-O) tensions in CSR as a context, we explain how the interplay of cognitive frames, interwoven organizational tensions, and structural factors result in employees' constraining or enabling experience of tensions and their subsequent range of passive to active responses to these tensions. We contribute to the literature on organizational tensions by theorizing employees' sense of agency vis-à-vis tensions in terms of explaining why and when employees experience tensions as constraining or enabling. We thereby offer a better understanding of employees' responses to tensions. Our theorizing also contributes to the micro-CSR literature by offering a comprehensive theoretical account for employees' contribution to CSR initiatives when they perceive tensions between their own and the organization's CSR priorities.

Murillo-Rojas, J.V., Brinckmann, J. & van Essen, M. (2020, June). Synthesizing empirical evidence: What do we know about the value contribution of business incubators and accelerators for the founded firms?. In 2020 Babson College Entrepreneurship Research Conference (2020 BCERC), Knoxville.

The research on the relationship between business incubators and accelerators and startup performance has produced heterogeneous and contradictory results. We have meta-analyzed 114 studies with a total sample size of 157,853 firm-observations and found a positive correlation between business incubator or accelerator participation and startup performance. Examining the circumstances in which those programs support startups and their characteristics, we found significant moderate effects from performance measures and geographic context.

Our results have implications for entrepreneurship scholars, policymakers, incubators and corporate managers, and entrepreneurs.

Rautiainen, M., Discua-Cruz, A., Pihkala, T., Parada , M. & Akther, N. (2020, August). More than meets the eye: managing complex dynamics in family business groups. In 2020 Academy of Management Annual Meeting, Vancouver.

The management of family business groups is extremely complex.

Internal complexity, which is a cause for failure of organizations, has been under explored. We study how family business groups manage their internal complexity to be able to survive over time. In this study, we bring together the case study method and complexity science to suggest new ways to study family business groups. We focus on a Finnish family business group and provide an empirical illustration, based on a large family business case, of how structural and cognitive complexity is dealt with.

Wong, C.Y.W., Sancha Fernández, C. & Giménez Thomsen, C. (2020, August). Green service and firm's performance: A contingency view in the Chinese context. In 2020 Academy of Management Annual Meeting, Vancouver.

The objective of this paper is to understand the performance effects of green service practices that aim to provide support to manufacturing firms on business and environmental performance and to study also how different governance approaches affect these performance results. We draw on a sample of both SMEs and large firms in the Chinese context. Our results show that there is indeed a positive link between the implementation of green service practices and business and environmental performance. However, no differences are found with respect to large and SMEs types of firms.

Regarding the interplay between green service practices and governance mechanisms, our results show that formal governance mechanisms diminish the effectiveness of green service practices in environmental and business performance. In addition, we provide evidence that the business and environmental performance effects of green service delivery are strengthened when the firm operates with uncertified EMS.

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CASES

Ofek, E., Bertini, M. & Koenigsberg, O. (2020, August). Pricing at Netflix [Case study]. Boston: Harvard Business Publishing.

Since its launch in 1998 as "the Amazon.com of DVDs," Netflix had evolved from a DVD rental company to a video streaming platform and producer of original films and television shows. As the company matured, it regularly increased prices and adjusted its product offerings while continuing to add new subscribers. However, between late 2019 and mid-2020, competition within the streaming industry intensified with the launch of new entrants such as Disney+, Apple TV+, and HBO Max, jeopardizing Netflix's position as the industry leader. In spite of the heightened competition in the streaming industry, some analysts and customer willingness-to-pay surveys suggested that Netflix had the opportunity to implement another rate hike in the near future. By May 2020, Netflix must decide whether to increase prices again, or whether it should consider a different pricing model altogether.

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ESADE'S PUBLICATIONS

Naimi, A., Hehenberger, L. & Clewett, K. (2020). Humans at the center: How social entrepreneurs with a migrant background are making a difference. Barcelona: ESADE Entrepreneurship Institute (EEI).

As experienced professionals, social entrepreneurs with a migrant background implement effective solutions that put humans at the center and lead to long-term benefits for migrants and their host communities. In this report, we shine a light on their unique approach by taking the perspective of migrants as an opportunity instead of a threat, in order to see what we can learn from them. Based on our research findings, we make recommendations to build an eco-system for impact, highlighting the role each institutional actor can play to drive change.

Reig Majoral, M. (2020). La contribució social de la col·laboració publicoprivada en els serveis sanitaris i socials: deu propostes de millora. Barcelona: ESADEgov-Centro de Gobernanza Pública; La Unió. Associació d'Entitats Sanitàries i Socials.

Coincidint amb el desè aniversari de la creació de l'Observatori de la Cooperació Publicoprivada en lesPolítiques Sanitàries i Socials del Programa PARTNERS, impulsat pel Centre de Governança Pública d'Esade(EsadeGov) i La Unió, s'ha organitzat una jornada de treball per tal d'identificar els reptes principals ambvista a millorar la qualitat de les col·laboracions publicoprivades (en endavant, CPP) i reflexionar sobre elsmites, els prejudicis i/o els estereotips que envolten la CPP i com superar-los.Amb aquesta finalitat, en el marc del Programa PARTNERS, s'ha construït una comunitat d'aprenentatgetransversal sobre la CPP d'actors públics i privats, conjuntament amb l'Institute for HealthcareManagement d'EsadeGov i La Unió. Aquest document pretén, per tant, fixar l'agenda dels reptesprincipals que s'han d'abordar per desplegar les potencialitats de la CPP en els àmbits sanitari i social, pelque fa a la qualitat de la seva governança i de la seva contribució social, i elaborar un document que aportivalor afegit al debat actual.

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PHD THESIS LAIA PUJOL At the crossroads of big science, open science, and technology transfer Director: Dr. Jonathan Wareham (Esade - Universitat Ramon Llull) Date of defense: 22/06/2020 Abstract: Big science infrastructures are confronting increasing demands for public accountability, not only within scientific discovery but also their capacity to generate secondary economic value. To build and operate their sophisticated infrastructures, big science often generates frontier technologies by designing and building technical solutions to complex and unprecedented engineering problems. In par allel, the previous decade has seen the disruption of rapid technological changes impacting the way science is done and shared, which has led to the coining of the concept of Open Science (OS). Governments are quickly moving towards the OS paradigm and asking big science ce ntres to "open up� the scientific process. Yet these two forces run in opposition as the commercialization of scientific outputs usually requires significant financial investments and companies are willing to bear this cost only if they can protect the innovation from imitation or unfair competition.

This PhD dissertation aims at understanding how new applications of ICT are affecting primary research outcomes and the resultant technology transfer in the context of big and OS. It attempts to uncover the tensions in these two normative forces and identify the me chanisms that are employed to overcome them. The dissertation is comprised of four separate studies: 1) A mixed-method study combining two large-scale global online surveys to research scientists (2016, 2018), with two case studies in high energy physics and molecular biology scientific communities that assess explanatory factors behind scientific data-sharing practices; 2) A case study of Open Targets, an information infrastructure based upon data commons, where European Molecular Biology Laboratory-EBI and pharmaceutical companies collaborate and share scientific data and technological tools to accelerate drug discovery; 3) A study of a unique dataset of 170 projects fu nded under ATTRACT -a novel policy instrument of the European Commission lead by European big science infrastructures- which aims to understand the nature of the serendipitous process behind transitioning big science technologies to previously unanticipated commercial appl ications; and 4) a case study of White Rabbit technology, a sophisticated open-source hardware developed at the European Council for Nuclear Research (CERN) in collaboration with an extensive ecosystem of companies.

MENATALLA EL HEFNAWY Essays in Empirical Asset pricing Director: Dr. Luca del Viva (Esade - Universitat Ramon Llull) and Dr. Carmen Ansotegui (Esade - Universitat Ramon Llull) Date of defense: 06/07/2020 Abstract: This dissertation aims at empirically uncovering new aspects of the cross-section of equity returns and providing theoretical-backed and empirical explanations of the main findings. The dissertation documents novel pricing predictors and factors related to the uncertain ty and imprecision levels of the information content embedded in different risk measures.

The first chapter investigates whether the time-series volatility of book-to-market (BM), called value uncertainty (UNC), is priced in the crosssection of equity returns. A size-adjusted value-weighted factor with a long (short) position in high-UNC (low-UNC) stocks generates an annualized alpha of 6-8%. This value uncertainty premium is driven by outperformance of high-UNC firms and is not explained by established risk factors or firm characteristics, such as price and earnings momentum, investment, profitability, or BM itself. At the aggregate level, UNC is correlated with macroeconomic fundamentals and predicts future market returns and market volatility. The chapter also provides a rational asset-pricing explanation of the uncovered UNC premium.

The second chapter extends the first chapter and examines the predictive power of the uncertainty of profitability (UP) on the cross-section of equity returns. A portfolio strategy that goes long in the high-UP decile portfolio and short in the low-UP decile portfolio generates an annual excess raw (risk-adjusted) return of 8% (10%). High-UP stocks would have higher returns during times of higher market-wide profitability, lower market volatility, and higher expected inflation justifying the documented premium. Moreover, firms with high uncertainty surrounding their asset growth (UAG) would outperform those with low asset growth uncertainty by 7% (12%) in terms of excess raw (risk-adjusted) return. Results shed light on the importance of the volatility of risk factors in investment decisions.

The third chapter examines the impact that imprecision in management earnings guidance (IMP) has on equity returns. Empirical evidence reveals that high IMP (wider interval in the forecasted earnings) is associated with lower subsequent stock returns. Two comp lementary explanations are provided to explain the low returns. First, in a market that exhibits short-selling constraints and diversion of opinion regarding earnings estimates, high IMP discourages pessimistic investors while optimists believe in the high bound of the range and take long positions based on these beliefs, leading to stocks' overpricing and hence to lower subsequent returns. Second, high IMP may reflect ge nuine uncertainty regarding future earnings appealing to growth and lottery investors. Findings are robust at the portfolio and stock level of analysis, to the measurement of imprecision, and to different asset pricing models.

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MOHAMMED ZAKRIYA Empirical Studies on Governance – Performance Interplay: The Investors' Perspective Director:

Dr. Ariadna Dumitrescu (Esade - Universitat Ramon Llull)

Date of defense: 08/07/2020 Abstract: This thesis aims to understand the relationship between corporate governance and performance by tracing its evolution over time and revisiting the methodological issues faced in measuring corporate governance. Empirical corporate governance literature shows that good governance stocks outperformed poor ones until investors’ increased attention to governance information made this anomaly disappear. On the contrary, first part of this thesis reveals that poor governance stocks have outperformed good ones in recent years. To e xplain this novel result, we examine whether investors become aware of the risks associated with poor governance after the 2008 global financial crisis and integrate this information into their investment decisions. Empirical evidence supports this explanation. In the second part of the thesis, we propose an unequal-weighted measure of corporate governance using anti-takeover provisions. In comparison with existing measures of governance that employ equal weighting methodology, this is the first study to explore multiple unequal weighting methodologies. Results show that the relationship between governance and performance is better explained when individual anti-takeover provisions’ heterogeneity is captured in the weights of the governance index. While the first two studies take the shareholders’ view of corporate governa nce, the third study of this thesis takes a stakeholders’ view by considering environmental, social and governance (ESG) characteristics together. Unlike prior literature that applies kitchen-sink measures of firms’ ESG-orientation, this study introduces a selective approach to measure corporate sustainability as an ESG subset. We show that corporate sustainability is the main driver of ESG’s relationship with financial performance.

Overall, this thesis highlights the importance of governance and ESG information (and the way they are both measured) for both the firms and their investors. Governance is significantly related to performance and valuation, but conditional on the way it is measured. This, in turn, has important implications for managers, governance rating agencies, and regulators.

AMER AWAN Employee perceptions of corporate social responsibility & reactions – An exercise in disambiguation Director:

Dr. Josep Francesc Mària, SJ (Esade - Universitat Ramon Llull)

Date of defense: 30/07/2020 Abstract: Increased research focus on the relationship between employee evaluations of the socially responsible activities of their firms and their reactions to these evaluations has led to certain inconsistencies in the constructs and theoretical lenses used to unde rstand the relationship. This dissertation seeks to clarify some ambiguities existing in current literature, and seeks to expand our understanding of the relationship by bringing together incongruent streams found within literature. The dissertation is based on three essays, each of which attempts to clarify a single aspect of the relationship between employees’ evaluations of corporate social responsibility and their reactions towards their firms. The first essay aims to synthesize the diverse constructs that have been used in prior literature to capture employees’ evaluations of their firms’ socially responsible behavior. The essay concludes by identifying five conceptually distinct evaluations that employees make using exploratory and confirmatory factor analysis, and uses structural equation modelling to identify the structure of interrelationships among these distinct evaluations. The second essay explores the theoretical lenses that have been used in literature to explain why employees respond to the socially responsible activities of their firms. The essay brings together insights from both organizational justice theory and social identity theory to develop a framework that incorporates ideas from both perspectives. The essay co ncludes by identifying the enhanced job meaningfulness has the largest effect size in terms of the mediating mechanism between employee perceptions of corporate social responsibility (CSR) and employee reactions to CSR. The last essay presents an alternative theoretical explanation for the relationship between employee perceptions of CSR and their attitudes towards the firm, based on the idea of cognitive consistency, using the balance theory of attitudes. An explanation of the relationship based on a desire for cognitive consistency allows for the relationship between employee evaluations of CSR and their attitudes towards the firm to flow in either causal direction. Using an experimental setting, evidence for the bi-directionality of the relationship was presented in the essay.

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COMPETITIVE RESEARCH PROJECTS WHICH HAVE WON FUNDING

EUROPEAN PAX: Private international law in motion Ref: GA 881850 Principal Investigator: Beatriz Añoveros Research group: Dret Patrimonial Funding body: European Union Funding: 82.064,00 € Duration: 24 months The PAX project –Private International Law in Motion- has been set up as an ambitious project which provides both an adequate follow-up to the earlier JUDGTRUST project (funded by the European Commission under the JUST-JCOO-AG-2017 programme for the period 2018-2020) and an the attempt to take these earlier achievements to the next level via enhanced knowledge and training in EU private international law (i.e. judicial cooperation in civil matters having cross-border implications in the EU, as referred to by Art.81, 1°, TFEU). The still ongoing JUDGTRUST project focuses on the Brussels Ibis regulation and has as its main objective to advance the correct and consistent application of this major piece of EU legislation on private international law. One of its most remarkable components is the launch of a Moot Court Competition to increase students’ awareness of its reach and significance. The first edition of this EU sponsored Moot Court Competition has taken place in the academic year 2018-2019, and has recently been concluded through two-day finals in the Hague at which 11 teams (not only of European, but also of Indian and Russian origin) participated. This Moot Court Competition turned out to an unexpected success in many respects: the interest that it has raised far beyond the Union’s borders, the large participation and the active involvement of not only students but also legal professionals and academics from a wide array of universities. Next year, a second edition will be organized, still under the JUDGTRUST project.

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NATIONAL CROWDWORK: Crowdsourcing en la distribución de última milla. La perspectiva de múltiples grupos de interés en la eficiencia organizacional y en la salud y seguridad laboral Ref: PID2019-109248GA-I00 Principal Investigator: Annachiara Longoni Other participants: Cristina Gimenez, Vicenta Sierra, Frank Wiengarten Research group: BUNED Funding body: GENERACION DE CONOCIMIENTO 2019 – MICIU (Ministerio) Funding: 48.642,00 € Duration: 48 months The CrowdWork project aims to empirically investigate the implications of crowdsourced workforce in the last mile delivery industry for organizational efficiency (from the organizational perspective) and occupational health and safety (from the workers perspective).

Industries such as crowdsourced last mile delivery are built on the principle of matching supply and demand through digital labor platforms.

Workers in charge of the last mile delivery (i.e., drivers) receive their orders through the digital platform and are only paid on demand when a delivery is performed.

This model breaks the traditional employee-employer relationships to create a more flexible workforce. Digital labor platforms present employers with new opportunities to vastly reduce labor costs and increase flexibility. For sure, these work arrangements allowed the expansion of new digital businesses and the gig economy.

However, there is a growing concern that these new non-standard forms of employment adversely affect workers by creating precarious work.

Such precarious work might result in social and economic insecurities, psychological and physiological stress and working conditions negatively affecting worker health and safety.

We propose that from the operational perspective it is possible to identify configurations of best practices that might overcome possible tradeoffs of crowdsourced work between efficiency and occupational health and safety. By best practice configurations we refer to human resource management practices, such as training, worker involvement and teamwork; and process design, such as process formalization.

These practices combined to precarious work forms of crowdsourced work might prevent possible negative effects on worker occu pational health and safety and maintaining efficiency in the operational setting. In such research direction it is positioned the CrowdWork project, which ultimately aims to define best practice configurations of crowdsourced work to overcome possible trade-offs between organizational efficiency and worker health and safety.

From a theoretical perspective, this means, firstly, to demonstrate the trade-offs between organizational efficiency and worker health and safety in crowdsourced work environments, such as the last mile delivery industry. Secondly, we aim also to identify possible mitigation strategies for such trade-offs as combining crowdsourced work with human resource management practices and process design respectful of the workers.

From a practical perspective, this means to provide guidelines for crowdsource last-mile delivery companies, as well as digital businesses in general, about work organization design at the operational level (which is about human resource management practices and process design to combine with crowdsourced workforce); and also stimulate governments and institutions to develop regulations considering such aspects of workforce arrangement.

PREJUDICE: Prejuicio anti-inmigrante y sexismo en España: factores de riesgo y estrategias preventivas Ref: PID2019-111276GB-I00 Principal Investigator: Katharina Schmid Research group: GLEAD Funding body: GENERACION DE CONOCIMIENTO 2019 – MICIU (Ministerio) Funding: 84.700,00 € Duration: 48 months

A key societal challenge in Spain, as in many parts of the world, entails preventing discrimination and social exclusion of immigrants on the one hand, and women on the other, as well as curbing far-right extremism. Recent political trends in Spain reflect a surge in far-right attitudes and discriminatory behaviour towards minority groups, especially immigrants but also women. To address this challenge, the current project will use a highly innovative design that triangulates three quantitative data collection methods (i.e., a general population survey, an implicit association test, and a series of experiments) and that bridges current insights on the interplay between a key antecedent of discrimination, identity threat, as well as a key strategy to prevent such negative tendencies, intergroup contact. By examining previously unexplored conditional factors underlying the complex interplay between contact and threat, this project will offer critical new insights into the drivers of explicit (i.e., consciously held) and implicit (i.e., subconsciously held) attitudes towards immigrants and women that are prominent in the current far-right discourse in Spain. The results of this project will provide applied recommendations to policy makers and other key stakeholders seeking to prevent discrimination, social exclusion and far-right extremism in Spain.

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IVLERM: volatilidades implicitas: efecto apalancamiento y gestion del riesgo Ref: PID2019-106465GB-I00 Principal Investigator: Santiago Forte Other participants: Marco Menner, Carlo Sala, Lidija Lovreta Research group: GREF Funding body: GENERACION DE CONOCIMIENTO 2019 – MICIU (Ministerio) Funding: 29.161,00 € Duration: 36 months

The present project comprises four main objectives. The first is to analyse and compare the informational content of equity options and (credit default swaps) CDS regarding future volatilities. For our analysis, we will distinguish between: 1. Equity volatility versus firm asset volatility; 2.

Cross-section versus time-series; and 3. Short-run versus long-run. The second objective is to analyse the long-memory properties of equity and firm asset volatility at the firm-level, and its impact on volatility forecasting. The third objective is to expand our knowledge on the design and calibration of structural credit risk models. In particular, we will adopt a model-free approach to derive simple closed-form expressions for the pricing of credit sensitive claims like risky bonds, CDS contracts, and forward CDS contracts (i.e., CDS contracts signed today, but initiated at a future date). Our result will also allow for the time decomposition of credit spreads. Additionally, we will explore in detail the theoretical and empirical properties of the CreditGrades model. The fourth and last objective is to investigate the information content on risk provided by the volatility surface of the option market. Specifically, we will employ different estimation techniques and test the validity of the obtained results using classical backtesting techniques as well as we aim to create new ones. As a key common denominator, all techniques we aim to implement will produce forward-looking profit/loss density estimations. This will be achieved either under the statistical (physical) measure, or under the pricing (risk-neutral) measure. One focus will thereby be on estimation and hedging of downside risk.

ODELMAEBD: Diseño Óptimo de Pruebas de Evaluación y de Acceso al Mercado de Trabajo ante Diferencias de Comportamiento. Una Perspectiva de Género Ref: PID2019-107108GB-I00 Principal Investigator: Pedro Rey Research group: GREF Funding body: GENERACION DE CONOCIMIENTO 2019 – MICIU (Ministerio) Funding: 24.200,00 € Duration: 36 months

The project ainms to study fairness and efficiency in the design of standrized multiple choice test, which are used to qualify the best students and to select workers in the labour market. We plan to analyze the performance of participants in multiple choice exams (school exams, incentivezed experiments, PISA and MIR exams). We will study gender differences in performance depending on some of the characteristics of these multiple choice tests (order in the level of difficulty of questions, penalties for wrong answers, time limits).

Our main hypothesis is that observed gender differences in behavioral traits such as risk aversion and attitude towards comeptition , make apparetnly neutral exams end up discriminating against women due to some ad hoc and uninetended exam design choices.

The project aims to identify not only the optimal design of such standarized exams, so that they are able to correctly identify the best candidates instead of behavioral differences, but also analyze the job market consequences that incorrectly designed exams ma y have had over the labor span of workers.

As a sample of the most ambitious study we are proposing,w e have recently signed a collaboration agreeement with Ministerio de Sanidad, in order to have access to the individual data from the 40 years of the MIR exam, which assing public positions to medical doctors. Crossing these data with social security and job market data, we will be able to estimate the cost that incorrectly designed exams may have had over the professional path of doctors in Spain.

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RESEARCH BULLETIN Issue 53 Nuevos retos del derecho de familia en una sociedad inclusiva y global Ref: ACM2020_15 Principal Investigator: Teresa Dupla Other participants: Silvia Rómboli, David Velázquez Vioque Research group: Conflict Management Funding body: ACM 2020 – Aristos Campus Mundus Funding: 5.400,00 € (4.000,00 € Esade - coordinators) Duration: 12 months

The main focus of this research project is the family, presented in the context of a current inclusive society. Our goal is t o identify and develop a better understanding of current problems and future challenges for legal and social cohesion brought about by modern familial and societal advances. The research starts from a selection of challenges faced by the current family from different areas of law: a) chal lenges in the private legal field (new parent-child relationships derived from gestation by surrogacy; reformulation of kinship; regional (in)-equalities of new family models); b) challenges in the public legal sphere (aggravating, mitigating and kinship; the right of correction of children; acquittal excuse and defenses in paternal responsibility; fundamental rights and family). Our interest is driven by the need to update the legal system in make it more adaptable to the new familial situations and their consequences. Research will be multidisciplinary and carried out in partnership with Deusto and Comenius universities.

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CATALAN

Two Studies to Understand and Improve Executive Decision-Making in a VUCA World Ref: 2020-URL-Proj-002 Principal Investigator: Bart de Langhe Research group: JUICE-Esade D3 Funding body: Ajuts a l'activitat de recerca PDI 2020 - URL Funding: 10.000,00 â‚Ź Duration: 12 months

Executives make decisions in an environment characterized by volatility, uncertainty, complexity, and ambiguity. The decisions they make often have large stakes, and there is little diagnostic feedback about whether the decisions they made were good or bad. I am requesting funding for two studies that examine the psychology of executive decision-making. The first aims to examine how executives develop a sense of understanding, and how that sense of understanding relates to their true understanding. In other words, what makes an executive believe that s/he made a good or a bad decision? And how does that belief relate to the objective quality of decision -making? I hypothesize that exogenous trends, that are not under control of the executive, create an illusory sense of understanding of how the world works. This is because executives come to believe that their actions are responsible for the trend they observe. This illusory understanding can lead executives to make objectively worse decisions. The second study builds on an article I published in Harvard Business Review in September 2019, entitled "The Dangers of Categorical Thinking." The article describes four negative consequences of simplifying complex /continuous environments by dividing it into discrete buckets. For instance, when marketers divide their customer base into a smaller group of segments, they simplify their environment. This facilitates decision-making, but it also implies loss of information, which may harm decision-making. The predictions we make in Harvard Business Review are based on existing research in cognitive science, but have not been empirically examined yet in the context of segmentation and targeting decisions. Segmentation and targeting is at the heart of marketing. There has been much research examining quantitative/statistical aspects of it, but no research has examined it through a psychological/behavioral lens. That's the goal of the second study I am asking funding for.

Capturing people interests and emotions through natural language and fuzzy linguistic terms Ref: 2020-URL-Proj-011 Principal Investigator: Nuria Agell Research group: JUICE-Esade D3 Funding body: Ajuts a l'activitat de recerca PDI 2020 - URL Funding: 8.000,00 â‚Ź Duration: 12 months

The main objective of this project is to define a methodology able to find central sentiment and degree of consensus among a set of reviews in a social network context or in news context. In this project, a hybrid methodology is proposed. On the one hand, we will apply content and sentiment analysis on Big Data extracted from media or social media to identify the aspects or topics with positive, negative or neutral sentiment opinions. On the other hand, a methodology based on fuzzy linguistic descriptions will be used to capture from these opinions a fuzzy description of their concerns and emotions and their degree of consensus or agreement on specific topics.

In this framework, sentiment will be extracted from text analysis and then will be expressed in fuzzy linguistic terms. The centralized sentiment will be defined to reflect the specific opinion on a certain domain and a comparison will be made among the positions taken by other users or in other contexts.

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RESEARCH BULLETIN Issue 53 The antecedents and performance consequences of employee mobility Ref: 2020-URL-Proj-012 Principal Investigator: George Chondrakis Research group: EEI-GRIE Funding body: Ajuts a l'activitat de recerca PDI 2020 - URL Funding: 10.000,00 â‚Ź Duration: 12 months

The objective of this proposal is to help initiate and develop a research project focusing on understanding the dynamics of employee mobility across organizations. This topic is key to our understanding of firm performance given the importance of the human and social capital carried by employees (Coff 1997). Clearly, this topic is relevant to academic researchers but also to policy makers as the design of labour market institutions has implications for the incidence and direction of employee mobility (Marx et al. 2009). Besides that, this topic is relevant to managers as a better understanding of employee mobility will help them design human resources strategies with a view to prote cting firm talent (Agarwal et al. 2009).

While the topic of employee mobility is broad, we will focus specifically on a phenomenon called co-mobility, that is the phenomenon where the move of one employee results in other employees from the same firm moving as well (Marx and Timmermans 2017). This is an inte resting angle to explore as the relationships developed while working together can impact subsequent decisions of employment. However, the extant literature has primarily focused on the performance consequences of co-mobility for the individual employees. We know less, however, about the antecedents of co-mobility and its broader impact on firm performance.

Hence, the goals of this project are a) to develop theory that explains the emergence of co-mobility, b) provide data that document this phenomenon and explain its antecedents and, c) develop theory and empirically test the effects of co-mobility on firm performance.

Rainmakers in crisis times: Social capital and post-COVID economic recovery in Spain Ref: 2020-URL-Proj-016 Principal Investigator: Petya Platikanova Research group: GREF Funding body: Ajuts a l'activitat de recerca PDI 2020 - URL Funding: 9.950,00 â‚Ź Duration: 12 months

One of the most interesting aspects of any society is the establishment of social norms that encourage trust, mutual respect and cooperation (or high social capital). High levels of social capital facilitate coordinated actions that have the capacity to command scare resources and bring them towards improvement in productivity, worker well-being and social performance.

With the coronavirus lockdown in early 2020, diverse social initiatives have proliferated in the Spanish society with the aim of alleviating the social and economic consequences of the pandemic and helping the efficient functioning of regional economies. Despite such efforts, economic forecasts by international organizations today suggest that the pandemic will certainly have a strong negative effect on long-term economic growth and the pace of recovery will be painfully slow. To mitigate the negative consequences of the global crisis following COVID-19, the discussion around different policy solutions, such as capital injections in the real economy, has been initiated at both national and international level. Although policy interventions may be effective to speed up the process of economic recovery, it is very likely that pro-social cooperative attitude can further facilitate the faster recovery of local economies.

The objective of this investigation is to identify and measure the impact of social capital on the economic recovery in post-COVID Spain. This investigation will determine the critical conditions for this social capital to promote economic development of Spanish regions in (post-)crisis times.

Prejudice and discrimination toward multiple minority groups in Spain Ref: 2020-URL-Proj-017 Principal Investigator: Angel Saz Research group: GLIGP-ESADEGov Funding body: Ajuts a l'activitat de recerca PDI 2020 - URL Funding: 5.000,00 â‚Ź Duration: 12 months

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Revolving doors and politically connected boards are socially and academically relevant topics which have been widely studied for three decades. However, the research has looked at two dimensions primarily: which are the sectors in which firms hire former public officials and what is the performance of such firms. However, the overwhelming majority of such research has focused on the United States, with some exceptions regarding the EU. In this project we aim at looking at EU members states comparatively, and explore whether there are any differences between the revolving doors phenomenon within Europe, and what may be the reasons for such differences. In this project we analyse a sample of 120 indexed firms and their board directors. We are particularly interested in quantifying the number of former public sector officials on corporate boards in four European states. The research aims at explaining what determines the number of public sector officials sitting in a firm's boards. The main theoretical framework is the Varieties of Capitalism framework which will be tested for explanatory power of the heterogeneity found in the results. Thus, we expect coordinated variants of capitalism to have higher levels of revolving doors in corporate boards. (An initial pilot working paper which attempted at exploring this topic can be found here: https://www.esadeknowledge.com/view/european-revolving-doors-corporate-boards-in-germany-and-spain-193741)

Revolving doors in European corproate boards Ref: 2020-URL-Proj-018 Principal Investigator: Katharina Schmid Research group: GLEAD Funding body: Ajuts a l'activitat de recerca PDI 2020 - URL Funding: 10.000,00 € Duration: 12 months

A key societal challenge in Spain, as in many parts of the world, entails preventing discrimination and social exclusion of m inority and disadvantaged groups in society, as well as curbing extremism. Recent political trends in Spain reflect a surge in extreme attitudes and discriminatory behaviour towards minority groups, especially immigrants. To address this challenge, this research project will use a highly innovative design that bridges cutting edge insights from the fields of psychology, political science, sociology and behavioural economics, and that triangulates three unique quantitative data collection methods (i.e., a general population survey, an implicit associat ion test, and a series of experiments). Two key factors central to understanding discrimination, social exclusion and far-right attitudes are 1) understanding the antecedents and drivers thereof, and 2) identifying strategies to prevent, minimize or overcome this. In addressing both these factors, the project will focus on the role of perceived threat as antecedent of, and on intergroup contact as a strategy to prevent discrimination, social exclusion and far-right attitudes, respectively.

The project will focus on a central antecedent of discrimination and far-right attitudes, identity threat, as well as a key strategy to prevent such negative attitudes, intergroup contact; it will also examine previously unexplored conditional factors that explain the complex interplay between contact and threat. The project will focus centrally on attitudes toward immigrants but will also consider attitudes towards other disadvantaged and/or minority groups that are prominent in the current far-right discourse in Spain (e.g., attitudes toward women’s rights, Muslims). In so doing, the results of this project will offer applied recommendations to policy makers and other key stakeholders seeking to prevent discrimination, social exclusion and far-right extremism in Spain.

Fórmulas convivenciales para personas mayores en el derecho privado: alternativas contractuales a las residencias geriátricas Ref: 2020-URL-Proj-037 Principal Investigator: Rebeca Carpi Research group: Dret Patrimonial Funding body: Ajuts a l'activitat de recerca PDI 2020 - URL Funding: 4.000,00 € Duration: 12 months

This research work will analyze the formulas that private law currently offers to the elderly to improve their vital reorganization in this phase, with instruments of both personal and patrimonial protection, and guaranteeing their autonomy to the maximum degree possible. I will look specifically within the Spanish system at the need to devise or adapt (within private law) formulas for residence and coexistence that work with the model of geriatric residences which are subject to the control of the Public Administration, but in many cases offer little guarantee for the well-being of the elderly, and even less with as regards their autonomy.

In the current context, the search for residential alternatives that adapt to the specificities of this vital stage, guarante eing care and attention at the same time as private autonomy and free personal development, requires returning to the subject in a more intense and general way, and encompassing not only the analysis of Catalan regulation, but also the search for convivial formulas that private law facilitates and that are adaptable to the entire national and, perhaps, European sphere.

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Problemáticas fiscales de la economía digital y concepto de establecimiento permanente virtual Ref: 2020-URL-Proj-040 Principal Investigator: Patricia Font Research group: Dret Patrimonial Funding body: Ajuts a l'activitat de recerca PDI 2020 - URL Funding: 5.425,00 € Duration: 12 months

This research focuses on the impact of the digital economy and the fiscal problems that this entails. It is undeniable that the globalization process has meant that companies, in order to seek greater fiscal optimization, engage in abusive practices that lead to the relocation of profits. This is undoubtedly favored by the rise of the digital economy that fosters business models in which it is not necessary to have a physical presence in the territory in which the income is generated, thus helping to facilitate the relocation of the same. In this context, the concept of permanent establishment as a connection point that allows the income generated to be subject to taxation acquires special relevance, and which has been reviewed by the OECD in the framework of the BEPS Plan. Precisely one of the hot topics current ly being debated within the OECD are the challenges posed by the digital economy in the tax field, as well as the possible definition of the concept of digital permanent establishment. The academic analysis of all the above is still underdeveloped, and it is necessary to lay the minimum conceptual foundations so that its approach in tax practice, by the different agents involved, is optimal.

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NON COMPETITIVE RESEARCH PROJECT WHICH HAVE WON FUNDING

CATALAN Programa PARTNERS Principal Investigator: Monica Reig Research group: GLIGP-ESADEGov Funding body: Diputació de Barcelona - Àrea de Desenvolupament Econòmic i ocupació Funding: 10.000,00 € Duration: 12 months

The PARTNERS Program was created as an initiative to generate knowledge by focusing on the development and dissemination of knowledge in the field of public-private partnerships. The program seeks to provide executives and institutions that operate in the public and the private sectors and are involved in collaborative projects, irrespective of their sphere of operation, with the opportunity to meet and learn from each other.

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AGENCIES' EVALUATION

ACCREDITATIONS

Sancha Fernรกndez, Cristina Research accreditation issued by AQU (The Catalan University Quality Assurance Agency) 06/2020

Schmid, Katharina Advanced research accreditation issued by AQU (The Catalan University Quality Assurance Agency) 05/2020

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MERITS IN RESEARCH

Joan Manuel Batista 6th period Merits in research issued by ANECA (The National Agency for Quality Assessment and Accreditation of Spain) 07/2020 Josep Bisbe 3rd period Merits in research issued by ANECA (The National Agency for Quality Assessment and Accreditation of Spain) 07/2020 Teresa Duplà 3rd period Merits in research issued by ANECA (The National Agency for Quality Assessment and Accreditation of Spain) 07/2020 Ariadna Dumitrescu 1st period Merits in research issued by ANECA (The National Agency for Quality Assessment and Accreditation of Spain) 07/2020 Ariadna Dumitrescu 2nd period Merits in research issued by ANECA (The National Agency for Quality Assessment and Accreditation of Spain) 07/2020 Anna Ginès 2nd period Merits in research issued by ANECA (The National Agency for Quality Assessment and Accreditation of Spain) 07/2020 Lisa Hehenberger 1st period Merits in research issued by ANECA (The National Agency for Quality Assessment and Accreditation of Spain) 07/2020

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AWARDS

Daniel Blaseg "Wolfgang Ritter Prize 2020", awared by the Wolfgang-Ritter-Stiftung with the aim to aid science and the next generation of academics.

Daniel Blaseg was awarded for outstanding research in management.

Annachiara Longoni Best reviewer award 2020 by Journal of Purchasing and Supply Management

Marco Menner Winner of the Research Award to the best academic works in the frame of the "Swiss Derivative Awards 2020". Sponsored by Swiss Structured Products Association (SSPA)

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RESEARCH SEMINARS

Pinar Ozcan Professor of Entrepreneurship and Innovation at Saïd Business School, Oxford University May 4th Title: “Platformification” of Banking: Strategy and challenges of challenger versus incumbent banks in response to regulatory change in the UK

Abstract: This paper explores what advantages and challenges new players versus incumbents face in creating / transitioning to a platform business model in a regulated, data sensitive industry, in the context of UK retail banking. Through semistructured interviews and observations during the 16 months before and 12 months after the introduction of open banking regulation, which triggered new entry by digital banks into the industry, we observed the platform formation attempts and challenges of established and new players in the industry. Our findings highlight the limitations of platform strategies and dynamics in highly-regulated, data sensitive industries and provide a nuanced view of platform emergence and industry transformation with attention to organizational context, interorganizational conflicts, and the regulatory environment.

Jonathan Berman Associate Professor of Marketing at London Business School May 5th Title: Damned either way: Judgements of hypocrisy in consumer behavior Abstract: This paper explores what advantages and challenges new players versus incumbents face in creating / transitioning to a platform business model in a regulated, data sensitive industry, in the context of UK retail banking. Through semistructured interviews and observations during the 16 months before and 12 months after the introduction of open banking regulation, which triggered new entry by digital banks into the industry, we observed the platform formation attempts and challenges of established and new players in the industry. Our findings highlight the limitations of platform strategies and dynamics in highly-regulated, data sensitive industries and provide a nuanced view of platform emergence and industry transformation with attention to organizational context, interorganizational conflicts, and the regulatory environment.

Jennifer Nguyen Postdoctoral Researcher at Esade Business School May 5th Title: Ranking hotels based on reviewer consensus: an application to help recommend hotels Abstract: People have come to rely on reviews for valuable information on products before making a purchase. Digesting relevant opinions regarding a product by reading all the reviews is challenging. An automated methodology which aggregates opinions across all the reviews for a single product to help differentiate any two products having the same overall rating is defined. In order to facilitate this process, rating values, which capture the overall satisfaction, and written reviews, which contain the sentiment of the experience with a product, are fused together. In this manner, each reviewer’s opinion is expressed as an interval rating by means of hesitant fuzzy linguistic term sets. These new expressions of opinion are then aggregated and expressed in terms of a central opinion and degree of consensus representing the agreement among the sentiment of the reviewers for an individual product. A real case example based on 2506 TripAdvisor reviews of hotels in Rome during 2017 is provided. The efficiency of the proposed methodology when discriminating between two hotels is compared with the TripAdvisor rating and median of reviews.

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Rahul Kapoor Associate Professor of Management at the Wharton School of the University of Pennsylvania May 7th Title: Peering into a crystal ball: Foresight during periods of industry change Abstract: Managers are frequently confronted with new technologies and business models that could transform their industries. However, making sense of these disruptive changes is an inherently challenging task. What makes some managers better at identifying the trajectory of industry change? To explore this question, we introduce the construct of cognitive agility, which we define as the ability of an individual to sense and integrate new information, and to update her cognition as the industry evolves. We argue that cognitive agility will be associated with superior strategic foresight— accurately forecasting future states within a business context—and that this effect will be stronger under higher levels of uncertainty. We also consider characteristics of cognitive agility as those conforming to Bayesian behavior such that an individual updates her cognition with an explicit consideration of her prior beliefs. We argue that Bayesian cognitive agility will be associated with superior strategic foresight but that its effectiveness will diminish at higher levels of uncertainty. The data for the study were collected from three successive year-long forecasting tournaments conducted between 2016 and 2019, focusing on the dramatic shifts in the automotive industry involving electric and autonomous vehicles. Evidence from more than 21,000 forecasts made by over 3,500 individuals who participate in a leading crowd-based forecasting platform, offers strong support for our theory. The study offers a novel account of how managerial cognition could operate during periods of industry change, and why some managers may be more effective at navigating such environments.

Irene Unceta PhD candidate at University of Barcelona May 8th Title: The role of machine learning copies in algorithmic accountability Abstract: Machine learning plays an increasingly important role in our society and economy and is already having an impact on our daily life in many different ways. From several perspectives, machine learning is seen as the new engine of productivity and economic growth. It can increase business efficiency by aiding the decision-making process and spawn the creation of new products and services based on complex algorithms. In this scenario, the lack of actionable guidance for algorithmic accountability is potentially the single most important challenge facing the machine learning community. Machine learning based products are often composed of many parts and ingredients, mixing third party components or software-as-a-service APIs, among others. In this context, accountability should focus on identification and mitigation of risks in a flexible and adaptive way in order to ensure a safe model deployment. In this seminar, we will study the role of copies as a tool for risk mitigation in machine learning products from the perspective of ethical concerns such as interpretability or fairness. A copy replicates the decision behavior of a given model, while at the same time displaying additional properties. We propose a conceptual framework for actionable accountability and explore the use of copies as a viable alternative in circumstances where models cannot be re-trained, nor enhanced by means of other solutions.

Khaled Hassan PhD candidate at Esade Business School

Nour Chams PhD Candidate at the University Polytechnic of Barcelona May 7th Title: Money talks! Even for sustainability performance: The moderating role of total quality management

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RESEARCH BULLETIN Issue 53 Abstract: The corporate world has been increasingly shifting from short-term profit maximizing strategies to more sustainable long-term ones. As a result, large organizations have been exerting extra effort to adopt environmental, social, and governance (ESG) performances, as a tool to improve their societal behaviors and public reputation. However, the loop question remains unsolved: is ESG a driver of financial performance (FIN) or is it financial performance that drives ESG? Building on the slack-resources theory, and bridging finance, sustainability, and operations management literatures, a dynamic lagged regression model is proposed to empirically investigate the impact of FIN performance on ESG along with the moderating effect of total quality management (TQM) from a multi-industry and cross-national perspective. The analysis relies on a panel dataset from the years between 2012 and 2018, with a sample of multinational organizations from Europe, the United States, and Asia. The findings provide robust statistical evidences supporting a stimulus effect of operational financial measure (i.e., free cash flow, FCF) on ESG scores. While the interaction between TQM and FCF has a negative effect on ESG scores, the interaction between TQM and Tobin’s Q (i.e., firm market value) reveals a positive relationship with ESG. This study sheds further insights for both research and practice advancing knowledge toward better operationalization of sustainability management.

Janina Grabs Postdoctoral researcher at ETH Zurich May 14th Title: Assessing the effectiveness of the transnational private regulation of sustainable tropical commodity production Abstract: The production of tropical commodities such as coffee and palm oil is associated with a range of environmental and social issues, ranging from deforestation to child labor and exploitation. Transnational private regulatory initiatives such as certification schemes and company-internal sourcing codes have aimed to address these issues by making and enforcing sustainable rules of behavior, and using market incentives to encourage producer compliance. Based on primary research in the coffee sector of Latin America, this talk assesses the effectiveness of such private governance tools in reaching their goals. By combining an impact evaluation of 1,900 farmers with rich qualitative evidence from the coffee sectors of Honduras, Colombia and Costa Rica, I identify an institutional design dilemma that private sustainability standards encounter as they scale up. I further highlights how the erosion of price premiums and the adaptation to buyers’ preferences have curtailed standards’ effectiveness in promoting sustainable practices that create economic opportunity costs for farmers, such as agroforestry or agroecology. Throughout the seminar, parallels will be drawn to ongoing work on private regulation of palm oil production in Indonesia.

Jason Roos Associate Professor of Marketing at Rotterdam School of Management May 20th Title: An experimental paradigm for studying exposure to fake news Abstract: We develop, validate, and demonstrate the value of an experimental paradigm for studying exposure to fake news.

This paradigm complements existing methods for studying fake news by helping researchers address questions that current methods cannot. It allows participants to be ethically exposed to real and fake news items. These news items, like their realworld counterparts, report information that is consequential for later (in-experiment) decisions. But unlike their real-world counterparts, these news items are generated within a news ecosystem existing solely within the context of the experiment (and thus under the control of the experimenter). Through this paradigm, we provide a way to manipulate participants’ exposure to fake news without misinforming them (relative to a control group). This makes it possible to study the effect of mere exposure to fake news on participants, rather than a combined effect of exposure and misinformation. In two sets of preregistered experiments, we establish the validity of the manipulation, and show how exposure to fake news changes how much people are willing to pay for real news.

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Marc Esteve Associate Professor, School of Public Policy, University College London May 27th Title: Determinants of the costs of corporatisation: Analysing the effects of the forms of governance Abstract: Public corporations have been constantly in the spotlight due to certain arguments indicating that they can assist governments to implement better public services and others defending that the complexities of their governance are simply too high. Research on public corporation performance remains nonetheless scarce. This study offers empirical evidence as to the effects of the different forms of corporatisation on the costs of public services. The study specifically examines the costs of public services implemented via four different governance forms: Public Agency, Public Corporation, Mixed Public Corporation with Minority Public Ownership, and Mixed Public Corporation with Majority Public Ownership. The analysis took into account eight types of public services from 874 Spanish municipalities from 2014 to 2017. The empirical results indicate that Public Corporations do not provide less costly services than Public Agencies. In fact, mixed corporations with government majorities tend to be costlier than public agencies.

Tommaso Ramus Associate May 22nd Title: Learning through restructuring in hybridizing organizations Abstract: In recent years, literature has highlighted the importance of social practices of cooperation in the face of increasing social and spatial segregation, assuming that the intensity of social innovation is greater in the most vulnerable areas, where the effects of the crisis and the limits of public intervention are more evident. This paper critically reviews this assumption through a systematic analysis of the relationship between urban segregation and social innovation in different urban areas in Catalonia, showing how social innovation does not necessarily emerge in areas concentrating the most intense social needs, but in middle-income urban areas with a strong tradition of grassroots mobilization. It points out the limits of social innovation in counteracting the cities’ growing inequalities, as well as the need for public intervention oriented towards the enhancement of collective action capabilities in the most vulnerable urban areas.

Guillermo Casasnovas Postdoctoral fellow at Esade Business School May 29th Title: Speciation in nascent markets: Collective learning through cultural and material scaffolding Abstract: We study the emergence of new markets from a pragmatist perspective, focusing on how actors build market infrastructure over time. We use the emergence of social and impact investing markets in the UK as the empirical setting, from which we collected extensive interview, archival, and observation data from the period 1999-2019. We describe the recursive process of building the cultural and material infrastructure of the market, which we label upward and downward scaffolding. We extend research on pragmatist institutionalism by highlighting the collective learning involved in that process. We show how the process of scaffolding explains the split between the social investment and the impact investment markets, which we theorize as market speciation. We suggest two conditions – field overlapping and material anchoring – that drove this mechanism and hence help us explain the split of the market. The paper contributes to the pragmatist perspective in organization theory, to the sociology of markets, and to the empirical understanding of how social and impact investment have emerged.

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Sergio Salas Postdoctoral candidate at Esade Business School July 17th Title: A complex view of perceived job insecurity: Relationship between three domains and their respective cognitive and affective components Abstract: The aim of this paper is to examine the relationships between three domains of job insecurity, namely job loss insecurity, insecurity regarding working conditions and labor market insecurity, taking into account both their cognitive and affective components. Relationships with other related factors such as worker’s sociodemographic characteristics, household economic circumstances and occupational factors related to job insecurity are also shown. In order to achieve this we have used log-linear models and multiple correspondence analysis. By considering three domains and two components of perceived insecurity simultaneously, relevant aspects not previously observed of the relationships between them and related factors are revealed. This cross-sectional study of the wage-earning population in Spain in 2016 introduces therefore an element of complexity in the discussion on job insecurity which it would be advisable to incorporate in future research.

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