Papers by Josep M. Sayeras
Revista del Congrés Internacional de Docència Universitària i Innovació (CIDUI), 2016
La metodología de aprendizaje en la economía está basada en el "chalk and talk". En esta comunica... more La metodología de aprendizaje en la economía está basada en el "chalk and talk". En esta comunicación se presenta una nueva propuesta instruccional para la Economía 101 basada en la introducción de debates estructurados. Éstos se caracterizan por proponer a los estudiantes una dinámica pautada en la que se trabaja en equipos estables durante la asignatura y, dentro de cada equipo, se desempeñan una serie de roles en los distintos debates que tienen lugar a lo largo de la asignatura.
Harvard Deusto business review, 2017
En materia economica se espera que, en los proximos anos, el mundo crezca alrededor del 3,5% pero... more En materia economica se espera que, en los proximos anos, el mundo crezca alrededor del 3,5% pero ?realmente se producira dicho crecimiento? y si se produce, ?sera exactamente en ese porcentaje? ?va a aumetnar la produccion en un futuro proximo?. En cualquier caso, parece logico suponer que nos encontramos de nuevo ante una dinamica de cambio relevante que afectara no solo a las organizaciones, sino tambien al conjunto de la sociedad. Entonces, ?que significa este cambio? ?y como va a afectarnos?
Intangible Capital, 2018
Purpose: This research has analyzed the structural differences observed comparing medium size Spa... more Purpose: This research has analyzed the structural differences observed comparing medium size Spanish and German firms in the food industry, specifically biscuit production. A second objective has been to analyze if the different macroeconomic conditions in Spain and Germany have affected the performance of firms.Design/methodology/approach: Using financial information from AMADEUS data base, a sample of firms (135 observations) in the food industry from Spain and Germany have been analyzed, considering the changes observed in the periods 2007-2009, 2010-2012 and 2013-2015. Productivity, real investment, cost per employee, profitability and interests paid by the firms are among the variables considered. The different hypotheses proposed have been tested using non-parametric tes, mainly, Mann-Whitney test and Rho Spearman coefficient.Findings: Medium size German firms are bigger, using number of employees, than Spanish firms and show a higher profitability (using ROE) whatever the pe...
Aquesta conferencia te per objecte parlar del Premi Nobel d'Economia de l'any 2008, Paul ... more Aquesta conferencia te per objecte parlar del Premi Nobel d'Economia de l'any 2008, Paul R. Krugman. El professor de la Universitat de Princeton ha estat mereixedor de l'esmentat guardo «per la seva analisi dels patrons comercials i per la localitzacio de l'activitat economica». L'economia ha tingut, des dels seus inicis, entre moltes altres preocupacions, preguntes relatives a l'aparicio del comerc internacional i a l'auge i al declivi d'una area economica determinada, i Paul Krugman ha contribuit decisivament amb els seusmodels a donar resposta a ambdues questions. L'index que proposa l'autor es una explicacio, breu, en primer lloc, de la figura de Paul Krugman i, posteriorment, s'analitza en que consisteix l'organitzacio espontania de l'economia i l'economia d'aglomeracio. Finalment, es comenta breument si algun d'aquests dos models son aplicables a l'eix mediterrani. L'organitzacio espontania de l'econom...
This paper offers a new method inspired by classic importance-performance analysis (IPA) that pro... more This paper offers a new method inspired by classic importance-performance analysis (IPA) that provides a global index of importance versus performance for firms together with a new version of the IPA diagram. The index compares two rankings of the same set of features regarding importance and performance, taking into account under-performing features. The marginal contribution of each feature to the proposed global index defines a set of isocurves that represents an improvement in the IPA diagram. The defined index, together with the new version of the diagram, enables, by means of qualitative reasoning techniques, the assessment of a firm’s overall performance and therefore enhance decision making in the allocation of resources. The proposed method has been applied to a Taiwanese multi-format retailer and managerial perceptions of performance and importance are compared to assess the firm’s overall performance.
Educational Review, 2020
ABSTRACT Curricula are an essential ingredient of academic activity in higher education instituti... more ABSTRACT Curricula are an essential ingredient of academic activity in higher education institutions and so it is necessary to develop tools that help improve these curricula. The need to increase student employability has recently been highlighted as an objective for universities. This paper introduces a methodology to help assess curricula in the training of skills for the labour market. Using a combination of the technique for order preference by similarity to the ideal solution (TOPSIS) method and an adaptation of importance-performance analysis (IPA), this methodology measures the gap between graduate perceptions of their university training and of its workplace utility. A dataset of 15,339 graduate opinions was used to analyse the mismatch between the two perceptions. To measure these differences, an index was drawn up enabling quantitative comparisons among subject areas. A ranking is provided, as well as guidelines for enhancing curricula.
European Accounting and Management Review, 2019
Tourism is the main economic activity in some small islands that have became very dependent on th... more Tourism is the main economic activity in some small islands that have became very dependent on this activity. Sun and beach destinations are characterized by high levels of seasonality, with consequences on unemployment, economic activity diversification and GDP per capita. This paper analyzes the empirical evidence from the Balearic island of Mallorca, one of the most important touristic destinations in Spain. This research has analyzed the existence of correlation between seasonality and unemployment, GDP per capita, housing prices, the paper also examines the importance of location and infrastructure. The variable with a highest explanatory capacity in terms of GDP per capita is the distance to the airport. National and regional governments must consider the importance of infrastructures and the role seasonality plays in economic growth and economic activity diversification; the understanding of these relations will help to develop the most adequate public policies.
International Journal of Tourism Sciences, 2018
The hospitality industry is facing a major disruption as a consequence of Airbnb and similar peer... more The hospitality industry is facing a major disruption as a consequence of Airbnb and similar peer-to-peer platforms. This empirical research analyses the impact of perceived quality in pricing differences according to seasonality. Upper-scale hotels show less difference comparing peak and low season prices than do middle-scale hotels. Airbnb landlords discriminate prices according to seasonality, but contrary to the hotels, there are generally no differences between weekday and weekend pricing. Perceived quality seems to have a lower effect on prices for Airbnb apartments compared to the hotel industry, suggesting the idea of two clearly different business models.
Intangible Capital, 2017
Purpose: The aim of this study is to analyze the existence of a relationship between the presence... more Purpose: The aim of this study is to analyze the existence of a relationship between the presence of nearby substitute products, mainly Airbnb flats or rooms, and the effect on the revenue and profitability of hotels.Design/methodology/approach: The empirical study is based on the analysis of financial information provided in the annual reports of a sample consisting of 43 hotels (11.78% of the population). As an explanatory variable for profitability, we have considered the presence of apartments listed in Airbnb that are no farther than one kilometer from each hotel. Considering that most of the variables used do not follow a normal distribution, the existence of a relationship between profitability and the explanatory variables has been tested using non-parametric tests, namely, the Spearman correlation coefficient and Kruskall-Wallis test.Findings: We found a positive correlation between presence of Airbnb apartments and return on equity. This fact can be explained by considerin...
Sustainability, 2016
The hospitality industry is facing major challenges, among them the new competition from novel fo... more The hospitality industry is facing major challenges, among them the new competition from novel forms of supply in the sharing economy. Airbnb, Homeaway, and Niumba, among other websites offering accommodations, are having an important impact in the sector, changing existing conditions and the market for the traditional hospitality industry. In this context, a strategy based in differentiation can help to prevent drops in revenues and profitability. The main objective of this paper is analyse if commitment towards sustainability has a positive impact on financial performance and can be considered a positive strategy in this new environment. The empirical data refer to a sample of hotels in Barcelona, one of the most important tourist cities in Europe. Our results suggest that there is no clear relationship between sustainability and better financial performance; however, sustainability commitment is associated with a minimum size, which can also have positive effects in terms of economies of scale and finally affect profitability. Hotels more committed to environmental issues are located in areas with a lower density of Airbnb apartments, and this geographical distribution can be more positive than a situation of massive tourist concentration in specific areas with negative externalities for neighbours.
Educating for Responsible Management: Putting Theory into Practice
La actual crisis económica y financiera ha implicado un debate sobre qué sistema económico deberí... more La actual crisis económica y financiera ha implicado un debate sobre qué sistema económico debería ser el imperante. ¿Debería ser el capitalismo? O por el contrario, ¿tendría que buscarse un sistema nuevo? El autor repasa dicho concepto desde sus inicios para intentar encontrar, si fuera posible, sus elementos irreductibles porque el "capitalismo" es uno de los términos más usados, tanto coloquial como científicamente en los últimos tiempos; pero, ¿se sabe, a ciencia cierta, qué es el capitalismo? ¿Existe un único sistema capitalista? Posteriormente, analiza si esos elementos son caducos o sobrevivirán el presente envite.
Soft Computing, 2015
Performance measurement is a key issue when a company is designing new strategies to improve reso... more Performance measurement is a key issue when a company is designing new strategies to improve resource allocation. This paper offers a new methodology inspired by classic importance-performance analysis that provides a global index of importance versus performance for firms. This index compares two rankings of the same set of features regarding importance and performance, taking into account under-performing features. The marginal contribution of each feature to the proposed global index defines a set of iso-curves that represents an improvement in the importance-performance analysis diagram. The defined index, together with the new version of the diagram, will enable the assessment of a firm's overall performance and therefore enhance decision making in the allocation of resources. The proposed methodology has been applied to a Taiwanese multi-format retailer and managerial perceptions of performance and importance are compared to assess the firm's overall performance. Keywords Performance evaluation • Reasoning under uncertainty • Fuzzy operator • Similarity index 1 Introduction Importance-performance analysis (IPA) is considered a major area of research in management sciences (Bacon 2003). Firm features are ranked regarding either their importance or their performance. In general, differences between importance and performance rankings of features are considered when assessing a firm's resource allocation. Initial approaches in the late 70s were based on simple and in
Tourism Economics, 2012
Hotels and second home rentals are two of the most important tourist accommodation options in Spa... more Hotels and second home rentals are two of the most important tourist accommodation options in Spain. In terms of seasonality, almost all previous studies have analysed tourism demand from the point of view either of total arrivals or the number of tourists lodged in a single accommodation type (hotels, rural accommodation, etc). However, there are no studies focusing on price seasonality or comparing seasonality among different accommodation types. By using seasonality indicators and a price index constructed by means of hedonic methods, this paper aims to shed some light on seasonal pricing patterns among second home rentals and hotels. The paper relies on a 2004 database of 144 hotels and 1,002 apartments on the Costa Brava (northeast Spain). The results show that prices for second home rentals display a smoother seasonal pattern than hotels due to reduced price differences between shoulder (May and October) and peak periods (August).
Arbitraje (Arbitrage). Es la compra y venta de activos de características idénticas para obtener ... more Arbitraje (Arbitrage). Es la compra y venta de activos de características idénticas para obtener un beneficio sin tomar ningún riesgo. Coste de Oportunidad (Opportunity Cost). El valor de la segunda mejor alternativa. Dependencia de la senda (Path Dependence). Característica de un sistema cuyo equilibrio o "punto de descanso" no es independiente de la situación inicial. Efecto Liquidez (Liquidity Effect). Se produce para inducir a los agentes a mantener una fracción más grande de su riqueza en forma de dinero más que en activos que lleven interés, el precio de los activos tienen que subir (luego tipo de interés debe bajar). Equilibrio Externo (External Balance). Se consigue cuando la balanza por cuenta corriente de un país esta equilibrada. Es decir, la balanza por cuenta corriente no presenta un déficit tan grande que impida al país la devolución de sus créditos externos en el futuro, ni tiene un superávit tan elevado que coloca a los extranjeros en esa posición. Equilibrio Interno (Internal Balance). Requiere el pleno empleo de los recursos de un país y la estabilidad del nivel de precios doméstico. Esterilización (Sterilization). Política del Banco Central consistente en eliminar los efectos que producen los movimientos internacionales de reservas en las condiciones crediticias interiores. Ley de Gresham (Gresham's Law). Idea según la cual cuando circulan dos monedas, los individuos quieren deshacerse de la que pierde valor más deprisa. Por tanto, esa moneda predomina en las transacciones, expulsando de la circulación a "la moneda buena". Liberalización (Liberalization). Proceso que consiste en la eliminación de la interferencia del gobierno en los mercados. Monetización (Monetisation). Establecer algo (e.g. plata u oro) como moneda de curso legal (legal tender). (Monetización del Déficit) Proceso mediante el que el gobierno compra deuda (pública o privada) gracias a una mayor impresión de billetes por parte del banco central. Multiplicador monetario (Monetary Multiplier). Mecanismo por el cual la banca privada crea dinero. Ello es así debido al coeficiente de reserva entre los préstamos y los depósitos. Es decir, cuando un agente abre un depósito bancario, el banco no tendrá todo el dinero en la caja fuerte, sino que prestará una gran proporción dejando otra en la sucursal para posibles retiradas de efectivo. Por tanto, de una determinada cantidad de efectivo se ha "creado" una mayor gracias a este sistema. Operación de Mercado Abierto (Open Market Operation). Compraventa de títulos de Deuda Pública (Bonos del Estado) por parte del Banco Central con el fin de aumentar o reducir la oferta monetaria. Prestamista de última instancia (Lender of last resort). Es una organización, habitualmente el Banco Central, que suministra crédito a otras organizaciones financieras cuando éstas no pueden pedir prestados fondos al mercado. La disponibilidad de dicha práctica es con la intención de prevenir problemas sistémicos debido a la inexistencia de una adecuada liquidez en las organizaciones individuales. Privatización (Privatization). Es la conversión de empresas de propiedad pública a propiedad privada. Señoreaje (Seigniorage). Beneficio obtenido por parte del Banco Central por tener el privilegio de la creación de dinero. El beneficio se obtiene de la diferencia entre el valor nominal del billete y el coste de todo el sistema. xii 1. Introducción Incidencia de las instituciones en los sistemas de tipo de cambio 1 Capítulo 1: Introducción "No se puede decir todo a la vez, y por algo hay que empezar…" ESTEBAN ESTRELLA 1.1. Antecedentes de la Investigación El elevado número de crisis financieras internacionales que se han producido en la última década (1995-2005) ha suscitado un interés creciente por la causación, predicción, prevención, propagación y resolución de las mismas. El interés por el tema se ha visto incrementado ante la ausencia de un modelo de referencia (Ripoll, 2003). Por esta razón, el mundo académico reclama la creación de un nuevo paradigma (Kenen, 2002; Temin, 2002) 1 "There is a continuum of theories that agents can hold an act on without ever encountering events which lead them to change their theories" (Hahn, 1987:234). 2 Inadecuado en el sentido de que no explicase la realidad ni ayudara a mejorarla. 3 "... ideologies are shared framework of mental models that groups of individuals possess that provide both an interpretation of the environment and a prescription as to how the environment should be structured" (North, 1993:1). 4 "Institutions are the rules of the game or more formally are the humanly-devised constraints that structure human interaction" (North, 1994:1).
?Que hacer ante una crisis financiera? ?Como se produjo? ?Como manejarla? Este libro fue motivado... more ?Que hacer ante una crisis financiera? ?Como se produjo? ?Como manejarla? Este libro fue motivado por el creciente numero de crisis financieras internacionales que se habian producido durante los ultimos tiempos y por la ausencia de un modelo de referencia que pudiera explicar dichos fenomenos. El hecho basico es que estos son consecuencia de decisiones tomadas por agentes economicos. Cualquier decision no solo esta basada en unos criterios estrictamente economicos sino que incorpora aspectos institucionales. El proposito del presente libro ha sido realizar un estudio sobre la incidencia de las instituciones durante la resolucion y gestion de una crisis financiera de origen cambiario. Este estudio se inscribe dentro de una corriente de investigaciones en el campo de la Economia Politica de las crisis financieras y pretende ser una aportacion que permita ampliar el conocimiento actual adentrandose en el terreno institucional y en la toma de decisiones.
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Papers by Josep M. Sayeras