A vast digital ecosystem of entrepreneurship and exchange has sprung up with Bitcoin’s digital in... more A vast digital ecosystem of entrepreneurship and exchange has sprung up with Bitcoin’s digital infrastructure at its core. We explore the worldwide spread of infrastructure necessary to maintain and grow Bitcoin as a system (Bitcoin nodes) and infrastructure enabling the use of bitcoins for everyday economic transactions (Bitcoin merchants). Specifically, we investigate the role of legal, criminal, financial, and social determinants of the adoption of Bitcoin infrastructure. We offer some support for the view that the adoption of cryptocurrency infrastructure is driven by perceived failings of traditional financial systems, in that the spread of Bitcoin infrastructure is associated with low trust in banks and the financial system among inhabitants of a region, and with the occurrence of country-level inflation crises. On the other hand, our findings also suggest that active support for Bitcoin is higher in locations with well-developed banking services. Finally, we find support for ...
La inflación es un fenómeno muy importante para la economía, ya que algunas de las crisis económi... more La inflación es un fenómeno muy importante para la economía, ya que algunas de las crisis económicas más severas que ha habido en el mundo se debieron a una descontrolada inflación. Pero una disminución de precios, llamada deflación, tampoco es positiva para la economía, puesto que se entra en una espiral peligrosa: como los bienes y servicios bajan de precio, lo lógico es retrasar las compras y las inversiones: las empresas no generan los ingresos necesarios y algunas desaparecen, aumentando el desempleo. La indexación financiera es básicamente un mecanismo de reajuste de precios en el cual el valor de los pagos nominales se actualiza en función de algún precio o índice de precios, lo que permite crear un instrumento financiero libre del riesgo de la inflación. Esta alcanza su máxima etapa de desarrollo cuando existe una unidad de cuenta indexada de amplio uso. Este es el caso de la Unidad de Fomento (UF) de Chile creada en 1967, unidad de cuenta indexada al índice de precios al co...
PurposeThe strategic management literature lacks a comprehensive explanation as to why seemingly ... more PurposeThe strategic management literature lacks a comprehensive explanation as to why seemingly similar business models in the same industry perform differently. This paper strives to explain this phenomenon.Design/methodology/approachThe model is conceptualized and accompanied by a case study on the airline industry to explain knowledge brokerage that creates value from the effective utilization of knowledge resources acquired from intra‐ and inter‐firm environments.FindingsThe model explains a cyclical view of business model flexibility in which the knowledge‐based resource accumulation of the business model is spread across the intra‐ and inter‐firm environments. Knowledge brokerage strategies from the inter‐ and intra‐firm environments result in improved performance of the business model. The flexibility that the business model acquires is determined by how efficiently resource accumulation is aligned with its external environment.Originality/valueThe paper effectively integrat...
The correct valuation of an RD project is a rather complex process. Aside from the fact that it c... more The correct valuation of an RD project is a rather complex process. Aside from the fact that it can take several years to launch a new product after extensive investment, there happens to be a significant abandonment probability at each of the development and exploitation stages. Significant uncertainty is also inherently attached to both development costs and subsequent operational cash flows (be it the case of receiving final approval for commercial purposes). These cash flows need to be estimated with anticipation in order to give a reasonable value for the patent or RD project. The approach undertaken herein is to consider the patent or RD project as a complex option on relevant underlying stochastic variables: investment costs and operational cash flows. A model is proposed, programmed and applied to a real case.
The purpose of this paper is to explore turnaround performance as a resultant from both Collabora... more The purpose of this paper is to explore turnaround performance as a resultant from both Collaborative Decision Making (CDM) processes and collaborative measures. This paper presents how CDM operates in the Turnaround Process (TAP) to propose a new method for managing the collaborative turnaround performance of all actors by predicting the most critical indicators. To achieve this, data from a CDM airport is used. Sample data of 6500 observations, taken from turnaround movements handled in 2014 at Madrid-Barajas Airport, were obtained from three separate databases and analyzed separately (in three databases). To predict turnaround performance, this paper also introduces a predictor dependent variable called “star values†as a measure of minimal delay conditions in order to predict time performance. The analysis shows that the proposed method unveils a new approach in determining how collaborative performance can be measured in the TAP and the predicted key performance indicators, which shows variations in the predicted CDM indicators. Results challenge managers and policymakers to find which improvements can be enacted for better usage of airport infrastructures and resources for optimum use as well as enhanced TAP. In terms of theory use and extension, the study reveals how CDM is an essential element in the literature on air traffic management.
ABSTRACT There has been a long-standing concern that strategy literature needs a better understan... more ABSTRACT There has been a long-standing concern that strategy literature needs a better understanding of how organizational structure can affect performance and decision making within organizations. Previous research indicates that the relationship between organizational structure and performance is unexpectedly asymmetric. The balance between too much and too little structure is critical for an organization’s high performance in dynamic environments. Organizations with too little structure lack enough guidance but can be flexible, while organizations with too much structure are too constrained and lack flexibility. In addition, less structured emergent strategies tend to be high performing in dynamic environments, whereas more structured prescriptive strategies tend to perform well in stable environments. Accordingly, the optimal amount of structure decreases with increasing environmental dynamism, a consistent finding in existing literature. In this paper a review of literature on how organizational structure influences performance within organizations and the role of the environment is presented. It also incorporates and signifies the role of the Strategy, Structure and Performance (SSP) paradigm, which has played a central role within strategy research. By means of this, we will be able to know how the core knowledge required for decision-making and the coordination challenges within firms drive their internal structures, and how the implication of the appropriate degree of strategy-structure fit on the performance of a firm. The aim here is to develop a more precise theory of the fundamental relationships among structure, performance and the environment.
... Markets From a Passive Investor's Perspective Felipe Ruiz, Guillermo Martínez and Rafael... more ... Markets From a Passive Investor's Perspective Felipe Ruiz, Guillermo Martínez and Rafael Ruiz ... References Arnott RD, Hsu JC, West JM (2008) The fundamental index: a better way to invest. Wiley, Hoboken Bodie Z, Kane A, Marcus AJ (2002) Investments, 6th edn. ...
Resumen Yield management is the process of actively managing inventory to maximize revenues. In t... more Resumen Yield management is the process of actively managing inventory to maximize revenues. In this paper we present a model devised to apply yield management techniques using real options to the problem of optimal decision making when assigning rooms to ...
A vast digital ecosystem of entrepreneurship and exchange has sprung up with Bitcoin’s digital in... more A vast digital ecosystem of entrepreneurship and exchange has sprung up with Bitcoin’s digital infrastructure at its core. We explore the worldwide spread of infrastructure necessary to maintain and grow Bitcoin as a system (Bitcoin nodes) and infrastructure enabling the use of bitcoins for everyday economic transactions (Bitcoin merchants). Specifically, we investigate the role of legal, criminal, financial, and social determinants of the adoption of Bitcoin infrastructure. We offer some support for the view that the adoption of cryptocurrency infrastructure is driven by perceived failings of traditional financial systems, in that the spread of Bitcoin infrastructure is associated with low trust in banks and the financial system among inhabitants of a region, and with the occurrence of country-level inflation crises. On the other hand, our findings also suggest that active support for Bitcoin is higher in locations with well-developed banking services. Finally, we find support for ...
La inflación es un fenómeno muy importante para la economía, ya que algunas de las crisis económi... more La inflación es un fenómeno muy importante para la economía, ya que algunas de las crisis económicas más severas que ha habido en el mundo se debieron a una descontrolada inflación. Pero una disminución de precios, llamada deflación, tampoco es positiva para la economía, puesto que se entra en una espiral peligrosa: como los bienes y servicios bajan de precio, lo lógico es retrasar las compras y las inversiones: las empresas no generan los ingresos necesarios y algunas desaparecen, aumentando el desempleo. La indexación financiera es básicamente un mecanismo de reajuste de precios en el cual el valor de los pagos nominales se actualiza en función de algún precio o índice de precios, lo que permite crear un instrumento financiero libre del riesgo de la inflación. Esta alcanza su máxima etapa de desarrollo cuando existe una unidad de cuenta indexada de amplio uso. Este es el caso de la Unidad de Fomento (UF) de Chile creada en 1967, unidad de cuenta indexada al índice de precios al co...
PurposeThe strategic management literature lacks a comprehensive explanation as to why seemingly ... more PurposeThe strategic management literature lacks a comprehensive explanation as to why seemingly similar business models in the same industry perform differently. This paper strives to explain this phenomenon.Design/methodology/approachThe model is conceptualized and accompanied by a case study on the airline industry to explain knowledge brokerage that creates value from the effective utilization of knowledge resources acquired from intra‐ and inter‐firm environments.FindingsThe model explains a cyclical view of business model flexibility in which the knowledge‐based resource accumulation of the business model is spread across the intra‐ and inter‐firm environments. Knowledge brokerage strategies from the inter‐ and intra‐firm environments result in improved performance of the business model. The flexibility that the business model acquires is determined by how efficiently resource accumulation is aligned with its external environment.Originality/valueThe paper effectively integrat...
The correct valuation of an RD project is a rather complex process. Aside from the fact that it c... more The correct valuation of an RD project is a rather complex process. Aside from the fact that it can take several years to launch a new product after extensive investment, there happens to be a significant abandonment probability at each of the development and exploitation stages. Significant uncertainty is also inherently attached to both development costs and subsequent operational cash flows (be it the case of receiving final approval for commercial purposes). These cash flows need to be estimated with anticipation in order to give a reasonable value for the patent or RD project. The approach undertaken herein is to consider the patent or RD project as a complex option on relevant underlying stochastic variables: investment costs and operational cash flows. A model is proposed, programmed and applied to a real case.
The purpose of this paper is to explore turnaround performance as a resultant from both Collabora... more The purpose of this paper is to explore turnaround performance as a resultant from both Collaborative Decision Making (CDM) processes and collaborative measures. This paper presents how CDM operates in the Turnaround Process (TAP) to propose a new method for managing the collaborative turnaround performance of all actors by predicting the most critical indicators. To achieve this, data from a CDM airport is used. Sample data of 6500 observations, taken from turnaround movements handled in 2014 at Madrid-Barajas Airport, were obtained from three separate databases and analyzed separately (in three databases). To predict turnaround performance, this paper also introduces a predictor dependent variable called “star values†as a measure of minimal delay conditions in order to predict time performance. The analysis shows that the proposed method unveils a new approach in determining how collaborative performance can be measured in the TAP and the predicted key performance indicators, which shows variations in the predicted CDM indicators. Results challenge managers and policymakers to find which improvements can be enacted for better usage of airport infrastructures and resources for optimum use as well as enhanced TAP. In terms of theory use and extension, the study reveals how CDM is an essential element in the literature on air traffic management.
ABSTRACT There has been a long-standing concern that strategy literature needs a better understan... more ABSTRACT There has been a long-standing concern that strategy literature needs a better understanding of how organizational structure can affect performance and decision making within organizations. Previous research indicates that the relationship between organizational structure and performance is unexpectedly asymmetric. The balance between too much and too little structure is critical for an organization’s high performance in dynamic environments. Organizations with too little structure lack enough guidance but can be flexible, while organizations with too much structure are too constrained and lack flexibility. In addition, less structured emergent strategies tend to be high performing in dynamic environments, whereas more structured prescriptive strategies tend to perform well in stable environments. Accordingly, the optimal amount of structure decreases with increasing environmental dynamism, a consistent finding in existing literature. In this paper a review of literature on how organizational structure influences performance within organizations and the role of the environment is presented. It also incorporates and signifies the role of the Strategy, Structure and Performance (SSP) paradigm, which has played a central role within strategy research. By means of this, we will be able to know how the core knowledge required for decision-making and the coordination challenges within firms drive their internal structures, and how the implication of the appropriate degree of strategy-structure fit on the performance of a firm. The aim here is to develop a more precise theory of the fundamental relationships among structure, performance and the environment.
... Markets From a Passive Investor's Perspective Felipe Ruiz, Guillermo Martínez and Rafael... more ... Markets From a Passive Investor's Perspective Felipe Ruiz, Guillermo Martínez and Rafael Ruiz ... References Arnott RD, Hsu JC, West JM (2008) The fundamental index: a better way to invest. Wiley, Hoboken Bodie Z, Kane A, Marcus AJ (2002) Investments, 6th edn. ...
Resumen Yield management is the process of actively managing inventory to maximize revenues. In t... more Resumen Yield management is the process of actively managing inventory to maximize revenues. In this paper we present a model devised to apply yield management techniques using real options to the problem of optimal decision making when assigning rooms to ...
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