Research Bulletin - Issue 54 by ESADE

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Research Bulletin Issue 54 I Sep-Dec 2020 I Academic Year 2020-2021

Meet our postdoctoral researchers

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Our community of postdoctoral researchers has grown steadily, thanks to external funding received for research projects

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In recent years our community of postdoctoral researchers has grown steadily, thanks to external funding received for research projects. Currently, 10 postdoctoral researchers have a full-time position at Esade, with additional researchers expected to join us soon. We are delighted to introduce our postdoctoral researchers to you through a new space that we have created on our Research webpage here. We invite you to know them and the work they are carrying out through the series of short videos.

Matteo Avogaro Institute for Labour Studies

Guillermo Casasnovas Esade Entrepreneurship Institute

Jonas De keersmaecker

Leadership Development Research Center

Manissa Gunadi Department of Marketing

Lina Eze Esade Entrepreneurship Institute

Jennifer Nguyen Institute for Data Driven Decision

Hasan Muslemani Dep. of Strategy and General Management

Sergio Sala Business Network Dynamics

Laia Pujol

Instit. for Innovation and Knowledge Management

Angelo Romasanta

Instit. for Innovation and Knowledge Management

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Table of Contents RESEARCH NEWS .................................................................................................................................................3 ARTICLES WITH IMPACT FACTOR ......................................................................................................................6 QUARTILE 1 ........................................................................................................................................................6 QUARTILE 2 ..................................................................................................................................................... 11 QUARTILE 3 ..................................................................................................................................................... 14 QUARTILE 4 ..................................................................................................................................................... 15 ACADEMIC PEER REVIEWED & PROFESSIONAL JOURNALS ..................................................................... 16 BOOKS ................................................................................................................................................................. 21 INTERNATIONAL PUBLISHERS ..................................................................................................................... 21 BOOK CHAPTERS .............................................................................................................................................. 22 INTERNATIONAL PUBLISHERS ..................................................................................................................... 22 ACCEPTED PAPERS IN ACADEMIC CONGRESSES ...................................................................................... 23 CASES.................................................................................................................................................................. 25 ESADE'S PUBLICATIONS .................................................................................................................................. 26 PHD THESIS ........................................................................................................................................................ 27 LAW SCHOOL .................................................................................................................................................. 27 BUSINESS SCHOOL ....................................................................................................................................... 28 NEW PHD CANDIDATES .................................................................................................................................... 29 LAW SCHOOL .................................................................................................................................................. 29 BUSINESS SCHOOL ....................................................................................................................................... 29 VISITING PROFESSORS AND POSTDOC RESEARCHERS ............................................................................ 31 COMPETITIVE RESEARCH PROJECTS WHICH HAVE WON FUNDING ........................................................ 32 EUROPEAN ...................................................................................................................................................... 32 NATIONAL ........................................................................................................................................................ 34 CATALAN ......................................................................................................................................................... 35 NON-COMPETITIVE RESEARCH PROJECTS WHICH HAVE WON FUNDING ............................................... 37 INTERNATIONAL ............................................................................................................................................. 37 NATIONAL ........................................................................................................................................................ 38 AGENCIES' EVALUATION .................................................................................................................................. 39 ACCREDITATIONS .......................................................................................................................................... 39 MERITS IN RESEARCH ................................................................................................................................... 40 AWARDS .............................................................................................................................................................. 41 RESEARCH SEMINARS ...................................................................................................................................... 42

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RESEARCH NEWS

Ne guide: Ho

to cite and avoid plagiarism

The Library has recently published a new guide about “How to cite” in academic works. In this guide you will find tools, advises and examples of referencing and citing sources in your academic works, not only printed sources but also digital sources, like tweets, podcasts or videos. There is also a specific section for legal documents. The New Mendeley Reference Manager is an application that can help you to manage your references and create citations and bibliographies in your academic works. Ask the Library for help when using this tool or ask for a trainee session (biblioteca@esade.edu or Library chat).

+ info:

https://esade.libguides.com/how-to-cite/citing 3

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AQU and ANECA accreditations Faculty Accreditation is a tool for PhD professors both for internal promotion and for the accreditation of the programs in which they teach. These accreditations are issued by the National Agency for Quality Assessment and Accreditation (ANECA) of the Ministry of Science, Innovation and Universities of Spain, and the Agency for the Quality of the University System of Catalonia (AQU) of the Generalitat of Catalonia. The ANECA call for applications is open all year round. AQU opens 2 calls a year: March-April and OctoberNovember. We encourage you to request more information at merce.saura@esade.edu + info: https://esade.libguides.com/research-impact/accreditations

MINECO – Applications from Esade The annual Call for Research, Development and Innovation Projects from the Spanish Ministry for Science and Innovation is the country’s main source of public state funding for research and innovation. Obtaining a project funded under the Plan Nacional is also a baseline for research evaluation at national level. Together with the other institutions making-up the URL, Esade researchers regularly present research project proposals to this call. In the most recent call (December 2020) the URL submitted a total of 36 proposals, 14 of which were from Esade researchers. We are happy to be able to share with you this table on the evolution of proposals submitted to the Plan Nacional call over the past 4 years, which shows our high-level of implication:

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Reminder - Affiliation in journals A reminder concerning the citation of the university affiliation in articles published by our teaching staff and PhD students, as well as for your membership of editorial boards. The correct affiliation you must use will be: Univ. Ramon Llull, Esade or also Universitat Ramon Llull, Esade (The rest is discretional: you can use a hyphen or a coma, or after Esade add business school or law school) We must show our affiliation to our University in this order, please. Without the correct affiliation the university authorities cannot see the full weight of research in Esade. This is especially relevant for publications that are in the review and revise or resubmit stages.

Decision Lab – Help us disseminate our home-gro n research

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ARTICLES WITH IMPACT FACTOR

QUARTILE 1

De Langhe, B., Schley, D. R. & Long, A. R. (2020). System 1 is not scope insensitive: A new, dualprocess account of subjective value. Journal of Consumer Research, 47 (4), pp. 566-587. DOI: 10.1093/jcr/ucaa015. IF: 6.207 (2019) Cuartiles: Q1 Business FT50 (2017), ESADE: 4 (2015), CARHUS: A (2018), BW20 (2012), ABS: 4* (2018) Companies can create value by differentiating their products and services along quantitative attributes. Existing research suggests that consumers’ tendency to rely on relatively effortless and affect-based processes reduces their sensitivity to the scope of quantitative attributes and that this explains why increments along quantitative attributes often have diminishing marginal value. The current article sheds new light on how “system 1” processes moderate the effect of quantitative product attributes on subjective value. Seven studies provide evidence that system 1 processes can produce diminishing marginal value, but also increasing marginal value, or any combination of the two, depending on the composition of the choice set. This is because system 1 processes facilitate ordinal comparisons (e.g., 256 GB is more than 128 GB, which is more than 64 GB) while system 2 processes, which are relatively more effortful and calculation based, facilitate cardinal comparisons (e.g., the difference between 256 and 128 GB is twice as large as between 128 and 64 GB).

Bertini, M. & Aydinli, A. (2020). Consumer reactance to promotional favors. Journal of Retailing, 96 (4), pp. 578-589. DOI: 10.1016/j.jretai.2020.03.002. IF: 5.873 (2019), Cuartiles: Q1 Business, ESADE: 3 (2015), ABS: 4 (2018) Promotional favors are an increasingly popular but seldom researched form of price promotion where the receipt of the saving by consumers depends on an action on their part that is non-monetary in nature, such as completing a questionnaire, posting a review, or making a referral. This paper shows that the tactic can backfire, in the sense that consumers spend less than they would in response to a standard (unconditional) discount. We document this effect across five experiments. Experiment 1 is a field test. Experiments 2 to 5 replicate the result in more controlled settings, trace it to a process of psychological reactance, and address plausible alternative explanations. Finally, we review the contributions of our work and propose avenues for future research.

Arenas Vives, D., Struminska-Kutra, M. & Landoni, P. (2020). Walking the tightrope and stirring things up: Exploring the instutional work of sustainable enterpreneurs. Business Strategy and the Environment, 2020 (29), pp. 3055-3071. DOI: 10.1002/bse.2557. IF: 5.483 (2019), Cuartiles: Q1 Business Q1 Environmental Studies Q1 Management; ESADE: 3 (2015), CARHUS: A (2018) Sustainable entrepreneurs (SEs) operate under different institutional pressures, but they also aim to provoke changes in their institutional environment in order to advance the goals of sustainability. These changes are not always large-scale, successful transformations. This article adopts the concept of institutional work to explore how SEs engage in purposive, mundane activities to both fit in and influence the prevailing institutional environment. In particular, our findings allow us to introduce and discuss four specific types of work: making sustainability convenient, politicizing economic action, maneuvering around regulation, and relational work. At the end, we suggest that SEs may find themselves in a situation where they aim to transform the prevailing commercial institutional logic in order to promote sustainability goals while also trying to adapt to, and hence reproducing, this same logic they would like to transform.

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Chondrakis, G. & Sako, M. (2020). When suppliers shift my boundaries: Supplier employee mobility and its impact on buyer firms' sourcing strategy. Strategic Management Journal, 41 (9), pp. 1682-1711. DOI: 10.1002/smj.3154.IF: 5.471 (2019), Cuartiles: Q1 Business Q1 Management, FT50 (2017), ESADE: 4 (2015), CARHUS: A (2018), BW20 (2012), ABS: 4* (2018) Buyer firms respond to supplier employee mobility by reshuffling work among suppliers. However, the extant literature has not considered plural-sourcing firms which can bring work back in-house. In this paper, we develop a governance framework in which buyers engage in a comparative assessment of the costs associated with different sourcing modes following supplier employee mobility. Due to the imperfect transferability of social capital and associated uncertainty, buyers face increased contracting costs when supplier employees move. This prompts plural-sourcing buyers to increase their reliance on insourcing when the costs of adjusting in-house capacity are relatively low and when the costs of switching to alternative suppliers are relatively high. The analysis of data on patent prosecution activities and patent attorney mobility provides support to our theory.

Dumitrescu, A., El Hefnawy, M. & Zakriya, M. (2020). Golden geese or black sheep: Are stakeholders the saviors or saboteurs of financial distress?. Finance Research Letters, (37), pp. 101371-101371. DOI: 10.1016/j.frl.2019.101371. IF: 3.527 (2019), Cuartiles: Q1 Business, Finance, ABS: 2 (2018) Is stakeholder management crucial for financial distress? Unlike the prior literature that shows the mitigating influence of corporate social responsibility (CSR) on distress risk, we find that social stakeholder initiatives can increase the likelihood of future financial distress. Using a quasi-experiment, we find that this relationship is likely to be causal. We further show that managerial focus and financial constraints are two possible channels through which the social dimension could impact distress. Investors should hence view firms' CSR investments with caution.

Jackwerth, J. & Menner, Marco (2020). Does the ross recovery theorem work empirically?. Journal of Financial Economics, 137 (3), pp. 723-739. DOI: 10.1016/j.jfineco.2020.03.006. IF: 5.731 (2019), Cuartiles: Q1 Business, Finance Q1 Economics, FT50 (2017), ESADE: 4 (2015), CARHUS: A (2018), BW20 (2012), ABS: 4* (2018) Starting with the fundamental relation that state prices are the product of physical probabilities and the stochastic discount factor, Ross (2015) shows that, given strong assumptions, knowing state prices suffices to back out physical probabilities and the stochastic discount factor at the same time. We find that such recovered physical distributions based on the S&P 500 index are incompatible with future returns and fail to predict future returns and realized variances. These negative results are even stronger when we add economically reasonable constraints. Simple benchmark methods based on a power utility agent or the historical return distribution cannot be rejected.

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Bali, T., Del Viva, L., Lambertides , N. & Trigeorgis , L. (2020). Growth options and related stock market anomalies: Profitability, distress, lotteryness, and volatility. Journal of Financial and Quantitative Analysis, 55 (7), pp. 2150-2180. DOI: 10.1017/S0022109019000619. If: 2.707 (2019), Cuartiles: Q1 Business, Finance Q1 Economics, FT50 (2017), ESADE: 4 (2015), CARHUS: A (2018), ABS: 4 (2018) We examine how various stock market anomalies are related, namely whether idiosyncratic skewness associated with growth options is related to the profitability, distress risk, lottery demand and idiosyncratic volatility puzzles. We find that investors require a positive premium to hold stocks of inflexible firms with negative expected idiosyncratic skewness and that a newly proposed skewness factor based on future growth or firm inflexibility explains the aforementioned anomalies. We show that well-known cross-sectional relations between profitability, distress, lotteryness, and idiosyncratic volatility with stock returns are linked to risk premia related to firm inflexibility associated with a negatively-skewed return profile.

Campion, A.M., Gasco Hernández, M., Mikhaylov, S. J. & Esteve Laporta, M. (2020). Managing artificial intelligence deployment in the public sector. Computer, (53), pp. 28-37. DOI: 10.1109/MC.2020.2995644. IF: 4.419 (2019), Cuartiles: Q1 Computer Science, Hardware & Architecture Q1 Computer Science, Software Engineering, ESADE: 2 (2015) The scarcity of empirical evidence surrounding the organizational challenges and successful approaches to artificial intelligence (AI) deployment has resulted in mostly theoretical conceptualizations. By analyzing policy labs and offices of data analytics across the US to understand organizational challenges of AI adoption and implementation in the public sector as well as to identify successful management strategies to address such challenges, our study moves from speculation to gathering evidence. Our findings show that most challenges are found during the implementation stage and include challenges related to skills, culture, and resistance to share the data driven by data challenges. Further, our results indicate that long term strategies and short term actions need to be put in place to address these challenges. Among the first ones, leadership and executive support and stakeholder management seem to play an important role. Data standardization, training, and data-sharing agreements also seem to be successful specific short-term actions.

Simonsohn, U., Simmons, J. P. & Nelson, L. D. (2020). Specification curve analysis. Nature Human Behaviour, 4 (11), pp. 1208-1214. DOI: 10.1038/s41562-020-0912-z. IF : 12.282 (2019), Cuartiles: Q1 Multidisciplinary Sciences Q1 Neurosciences Q1 Psychology, Experimental Empirical results hinge on analytical decisions that are defensible, arbitrary and motivated. These decisions probably introduce bias (towards the narrative put forward by the authors), and they certainly involve variability not reflected by standard errors. To address this source of noise and bias, we introduce specification curve analysis, which consists of three steps: (1) identifying the set of theoretically justified, statistically valid and non-redundant specifications; (2) displaying the results graphically, allowing readers to identify consequential specifications decisions; and (3) conducting joint inference across all specifications. We illustrate the use of this technique by applying it to three findings from two different papers, one investigating discrimination based on distinctively Black names, the other investigating the effect of assigning female versus male names to hurricanes. Specification curve analysis reveals that one finding is robust, one is weak and one is not robust at all.

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Awan, S., Bel, G. & Esteve Laporta, M. (2020). The benefits of PSM: An oasis or a mirage?. Journal of Public Administration Research and Theory, 30 (4), pp. 610-635. DOI: 10.1093/jopart/muaa016. IF: 3.289 (2019), Cuartiles: Q1 Political Science Q1 Public Administration, ESADE: 4 (2015), CARHUS: A (2018), ABS: 4 (2018) Scholarly interest in public service motivation (PSM) has yielded a vast amount of research, exploring its potential for benefitting public-sector organizations through increased employee job satisfaction, enhanced individual performance, employee retention, and enhanced organizational commitment and citizenship behavior. However, a closer inspection of the literature reveals mixed empirical evidence for each impact of PSM. The present study carries out a meta-analysis of five key impacts of PSM to explain the divergence of results in the existing literature. We find evidence of the existence of a true effect for PSM over all the dependent variables, except for turnover intentions. In addition, we find a possible explanation for the mixed empirical evidence found in previous studies. We demonstrate that individual and organizational benefits of PSM are not accrued equally in all public sector workplaces and that the contextual variables legal origin and endemic countrywide corruption influence the extent to which PSM can produce positive outcomes in the workplace.

Taquet, M., Quoidbach, J., Gross, J., Saunders, K. E. A. & Goodwin, G. M. (2020). Mood homeostasis, low mood, and a history of depression in two large samples. JAMA Psychiatry, 77 (9), pp. 944-951. DOI: 10.1001/jamapsychiatry.2020.0588. IF: 17.471 (2019), Cuartils; Q1 Psychiatry Importance Existing therapeutic options are insufficient to tackle the disease burden of depression, and new treatments are sorely needed. Defining new psychotherapeutic targets is challenging given the paucity of coherent mechanistic explanations for depression. Objective To assess whether mood homeostasis (ie, the stabilization of one's mood by engaging in mood-modifying activities) is a possible new therapeutic target by testing the hypothesis that people with low (vs high) mean mood and people with (vs without) a history of depression have impaired mood homeostasis. Design, Setting, and Participants The quantitative association between mood and daily activities was computed in 2 large case-control studies based on the 58sec data set (collected from December 1, 2012, to May 31, 2014, and analyzed from April 1 to 30, 2019), and the World Health Organization Study on Global Aging and Adult Health (WHO SAGE) data set (collected from January 1, 2007, to December 31, 2010, and analyzed from June 1 to 30, 2019). The 58sec data set consists of self-enrolled participants from high-income countries. The WHO SAGE data set consists of nationally representative participants in low- and middle-income countries recruited via cluster sampling. Main Outcomes and Measures The main outcome (defined before data analysis) was the difference in mood homeostasis between people with high vs low mean mood (58sec data) and between people with vs without a history of depression (WHO SAGE data). Results A total of 28¿212 participants from the 58sec data set (65.8% female; mean [SD] age, 28.1 [9.0] years) and 30¿116 from the WHO SAGE data set (57.0% female; mean [SD] age, 57.8 [14.7] years) were included, for an overall study population of 58 328 participants. Mood homeostasis was significantly lower in people with low (vs high) mean mood (0.63 [95% CI, 0.45 to 0.79] vs 0.96 [95% CI, 0.96 to 0.98]; P¿<¿.001) and in people with (vs without) a history of depression (0.03 [95% CI, ¿0.26 to 0.24] vs 0.68 [95% CI, 0.55 to 0.75]; P¿<¿.001). In dynamic simulations, lower mood homeostasis led to more depressive episodes (11.8% vs 3.8% yearly risk; P¿<¿.001) that lasted longer (4.19 vs 2.90 weeks; P¿=¿.006). Conclusions and Relevance In this study, mood homeostasis appeared to have been impaired in people with low mood and in those with a history of depression. Mood homeostasis may therefore provide new insights to guide the development of treatments for depression.

Caballé Vilella, J. & Dumitrescu, A. (2020). Disclosure of corporate tax reports, tax enforcement, and price information. Journal of Banking & Finance, 2020 (121), pp. 105978- 105978. DOI: 10.1016/j.jbankfin.2020.105978. IF: 2.269 (2019), Cuartiles: Q1 Economics Q2 Business, Finance, ESADE: 3 (2015), CARHUS: A (2018), ABS: 3 (2018) This paper analyzes the effects of disclosing corporate tax reports on both financial markets' performance and tax revenue. To this end, we characterize the optimal auditing policy of the tax enforcement agency and the optimal tax reporting strategy of a firm. The manager of the firm has the possibility of trading in the firm's stock and, therefore, he cares about the information disclosed through the tax report. Our analysis suggests that, despite disclosure of the tax reports being beneficial for market performance (as the spread is smaller than under no disclosure), the tax agency might have incentives to not disclose the tax report when its objective is to maximize expected net tax collection. We also draw empirical and policy implications about the effect of the tax agency's efficiency on both trading costs and net tax collection. Our results shed light on the debate about the costs and benefits of disclosure.

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Pagell, M., Parkinson, M., Veltri , A., Gray , J., Wiengarten, F., Louis, M. & et al. (2020). The tension between worker safety and organization survival. Management Science, 66 (10), pp. 48634878. DOI: 10.1287/mnsc.2020.3589. IF: 3.935 (2019), Cuartiles: Q1 Operations Research & Management Science Q2 Management, FT50 (2017), ESADE: 4 (2015), carhus: A (2018), BW20 (2012), ABS: 4* (2018) This research addresses the fundamental question of whether providing a safe workplace improves or hinders organizational survival, because there are conflicting predictions on the relationship between worker safety and organizational performance. The results, based on a unique longitudinal database covering more than 100,000 organizations across 25 years in the U.S. state of Oregon, indicate that, in general, organizations that provide a safe workplace have significantly lower odds and length of survival. Additionally, the organizations that would, in general, have better survival odds benefit most from not providing a safe workplace. This suggests that relying on the market does not engender workplace safety.

Federo, R., Ponomareva, Y., Aguilera Vaqués, R., & Losada Marrodán, C. (2020). Bringing owners back on board: A review of the role of ownership type in board governance. Corporate Governance: An International Review, 28 (6), pp. 348-371. DOI: 10.1111/corg.12346. IF: 2.294 (2019) Cuartiles: Q3 Business Q1 Business, Finance Q3 Management ABS: 3 (2018) CARHUS: A (2018) Manuscript type Review. Research issue In this comprehensive literature review, we synthesize and analyze the current state of academic research regarding the relatively understudied relationship between the type of owners and board governance. Research findings Our review of the existing literature at the intersection of ownership and board governance research discusses how six distinct ownership types-pertaining to family, lone founder, corporation, institutional investor, state, and venture capitalist-shape board governance, defined as board structure, composition, and processes. We also uncover the influence of ownership type on board functional performance (i.e., monitoring, resource provision, and strategic involvement) and the implications of these owner-board relationships for a variety of firm outcomes (related to performance and compliance). Theoretical implications We present identifiable patterns in board governance and functional performance associated with each ownership type and their respective implications for a wide range of firm outcomes. We then propose seven core emerging themes that deserve further scholarly attention. Practical implications Our analysis cautions against the application of the "one-sizefits-all" best-practices approach in board governance advocated by policy makers, scholars, and corporate governance activists and underscores the need to consider the contingent effects of different owners' behaviors and interests in shaping and assessing board governance.

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QUARTILE 2

Mislavsky, R., Dietvorst, B. J. & Simonsohn, U. (2020). Critical condition: People only object to corporate experiments if they disapprove of a condition. Marketing Science, 39 (6), pp. 1092-1104. DOI: 10.1287/mksc.2019.1166. IF: 3.019 (2019), Cuartiles: Q2 Business, FT50 (2017), ESADE: 4 (2015), CARHUS: A (2018), BW20 (2012), ABS: 4* (2018) Why have companies faced a backlash for running experiments? Academics and pundits have argued people find corporate experimentation intrinsically objectionable. Here we investigate "experiment aversion," finding evidence that, if anything, experiments are more acceptable than the worst policies they contain. In six studies participants evaluated the acceptability of either corporate policy changes or of experiments testing them. When all policy changes were deemed acceptable, so was the experiment, even when it involved deception, unequal outcomes, and lack of consent. When a policy change was deemed unacceptable, so was the experiment, but less so. The acceptability of an experiment hinges on its critical condition-its least acceptable policy. Experiments are not unpopular, unpopular policies are unpopular.

Bertini, M. & Koenigsberg, O. (2020). Competing on outcomes. MIT Sloan Management Review, 62 (1), pp. 78-84. IF: 2.706 (2019), Cuartiles: Q2 Business Q2 Management, FT50 (2017), ESADE: 3 (2015), CARHUS: A (2018), ABS: 3 (2018) The goal of this article is to help business leaders understand that the landscape of competition is shifting, preparing them to take a leading role in markets that are increasingly transparent by adopting revenue models that align better with the outcomes customers actually desire from commerce. In the article, we feature firms that are working closely with customers and already staking their positioning and future on delivering value itself. These firms hold themselves accountable to it. At the same time, an important lesson is that, while pay-by-outcome may be the final destination in the journey that we outline, it is not necessarily the next destination. We do not claim that a shift to outcomebased agreements is urgent and necessary. This overstates the case at the moment. What we do claim, however, is that revenue models anchored on the ownership of a product or service are patently inferior, and that making the transition to a revenue model anchored on time or use is certainly within reach of most businesses.

Bagur Femenías, L., Buil Fabregà, M. & Aznar-Alarcón, J. (2020). Teaching digital natives to acquire competences for sustainable development. International Journal of Sustainability in Higher Education, 21 (6), pp. 1053-1069. DOI: 10.1108/IJSHE-09-2019-0284. IF: 2.000 (2019), Cuartiles: Q2 Education & Educational Research, CARHUS: A (2018)

The purpose of this research is to analyse how to adapt teaching and learning methodologies to new generations of digital natives to promote their commitment to sustainable development. The research explores the existence of a relationship between digital natives' characteristics, individual dynamic capabilities and their commitment to innovation and therefore to sustainability. A structural equation model is used to test the proposed hypothesis by a survey conducted with 532 digital-native higher-education students. The results show the existence of a significant relationship between digital natives' competences, individual dynamic capabilities and a better approach to managing situations with regard to relationships with key stakeholders and the fostering of innovation and commitment to the social and environmental issues demanded by society. The limitations of the study are that it is based on a sample from a specific Spanish university that cannot be representative of all digital natives from all universities and different cultural contexts. The variables measuring the characteristics of digital natives have only recently been used in the academic literature. The research proposes including individual dynamic capabilities and innovation courses in sustainable development education to accelerate the implementation of sustainable development goals (SDGs). These research findings can be used as insights into the development of university programmes and courses. This research is one of the first attempts at understanding how to promote education for sustainable development among digital natives and at identifying them as future change makers for sustainable development.

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Unceta Mendieta, I., Nin, J. & Pujol , O. (2020). Risk mitigation in algorithmic accountability: The role of machine learning copies. PLOS ONE, 15 (11), pp. e0241286-e0241302. DOI: 10.1371/journal.pone.0241286. IF: 2.740 (2019), Cuartiles: Q2 Multidisciplinary Sciences 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 the business efficiency and improve any decision-making process, and of course, spawn the creation of new products and services by using complex machine learning algorithms. In this scenario, the lack of actionable accountability-related guidance is potentially the single most important challenge facing the machine learning community. Machine learning systems are often composed of many parts and ingredients, mixing third party components or software-as-a-service APIs, among others. In this paper we study the role of copies for risk mitigation in such machine learning systems. Formally, a copy can be regarded as an approximated projection operator of a model into a target model hypothesis set. Under the conceptual framework of actionable accountability, we explore the use of copies as a viable alternative in circumstances where models cannot be re-trained, nor enhanced by means of a wrapper. We use a real residential mortgage default dataset as a use case to illustrate the feasibility of this approach.

Unceta Mendieta, I., Nin, J. & Pujol , O. (2020). Environmental adaptation and differential replication in machine learning. Entropy, 22 (10), pp. 1122-1136. DOI: 10.3390/e22101122.IF: 2.494 (2019), Cuartiles: Q2 Physics, Multidisciplinary When deployed in the wild, machine learning models are usually confronted with an environment that imposes severe constraints. As this environment evolves, so do these constraints. As a result, the feasible set of solutions for the considered need is prone to change in time. We refer to this problem as that of environmental adaptation. In this paper, we formalize environmental adaptation and discuss how it differs from other problems in the literature. We propose solutions based on differential replication, a technique where the knowledge acquired by the deployed models is reused in specific ways to train more suitable future generations. We discuss different mechanisms to implement differential replications in practice, depending on the considered level of knowledge. Finally, we present seven examples where the problem of environmental adaptation can be solved through differential replication in real-life applications.

Kowalski, R., Esteve Laporta, M. & Mikhaylov, S. (2020). Improving public services by mining citizen feedback: An application of natural language processing. Public Administration, 98 (4), pp. 1011-1026. DOI: 10.1111/padm.12656. IF: 1.825 (2019), Cuartiles: Q2 Political Science Q2 Public Administration, ESADE: 4 (2015), CARHUS: A (2018), ABS: 4 (2018) Research on user satisfaction has increased substantially in recent years. To date, most studies have tested the significance of predefined factors thought to influence user satisfaction, with no scalable means of verifying the validity of their assumptions. Digital technology has created new methods of collecting user feedback where service users post comments. As topic models can analyse large volumes of feedback, they have been proposed as a feasible approach to aggregating user opinions. This novel approach has been applied to process reviews of primary care practices in England. Findings from an analysis of more than 200,000 reviews show that the quality of interactions with staff and bureaucratic exigencies are the key drivers of user satisfaction. In addition, patient satisfaction is strongly influenced by factors that are not measured by state¿of¿the¿art patient surveys. These results highlight the potential benefits of text mining and machine learning for public administration.

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Awan, S., Esteve Laporta, M. & Witteloostuijn, A. (2020). Talking the talk, but not walking the walk: A comparison of self-reported and observed prosocial behaviour . Public Administration, 98 (4), pp. 995-1010. DOI: 10.1111/padm.12664. IF: 1.825 (2019), Cuartiles: Q2 Political Science Q2 Public Administration, ESADE: 4 (2015), CARHUS: A (2018), ABS: 4 (2018) The claim that Public Service Motivation (PSM) is an antecedent of prosocial behaviour has often been empirically tested and supported. However, closer inspection of this literature reveals large disparities in relating the two constructs. One reason that could explain such differences is that the relationship between PSM and prosocial behaviours has been primarily tested using self-reported cross-sectional, single-rater and same-survey data. While all of these are widely used methodological approaches in social sciences, they are also susceptible to potential biases. We conduct two comparative studies to re-examine this relationship. Study 1 utilizes self-reported cross-sectional, singlerater and same-survey data linking PSM and prosocial behaviour, revealing a positive relationship with PSM's Compassion dimension. Study 2 involves observing actual prosocial behaviour in a real-life setting. Then, the correlation between PSM and prosocial behaviour disappears. We conclude by discussing the possible reasons that could lead to the differences found across the two studies.

Mele, V., Esteve Laporta, M., Lee, S, Bel, G., Cappellaro, G., Petrovsky, N. & et al. (2020). Enhancing methodological reporting in public administration: The functional equivalents framework. The American Review of Public Administration, 50 (8), pp. 811-824. DOI: 10.1177/0275074020933010. IF: 2.168 (2019), Cuartiles: Q2 Public Administration, ESADE: 3 (2015), CARHUS: A (2018), ABS: 3 (2018) Public administration scholarship reflects a multidisciplinary field in which many theoretical perspectives coexist. However, one of the dark sides of such theoretical pluralism is methodological fragmentation. It may be hard to assess the research quality and to engage with the findings from studies employing different methodologies, thus limiting meaningful conversations. Moreover, the constant race across social sciences to make methodologies more sophisticated may exacerbate the separation between academic and practitioner audiences. To counterbalance these two trends, this article aims at increasing methodological intelligibility in our field. It does so starting from the idea that each methodology entails choices in the conventional phases of research design, data collection, and data analysis, and that these choices must be reported. The paper nails down and exemplifies such reporting needs for five selected methodologies: survey studies, quantitative experimental studies, quantitative observational studies, qualitative case studies and ethnographies. Based on their discussion and comparison, the paper offers a framework composed by functional equivalents, that is to say, the common denominator among methodological reporting needs. Methodological choices that need reporting include the rationale for the selection of a methodology, delimitation of the study, the research instrument, data processing and ethical clearance. Increasing methodological reporting would facilitate dialogues among different methodological communities, and with practitioner readers. All of which would also promote field building in the scholarship of public administration.

RESEARCH BULLEŰIN Issue 54

QUARTILE 3

Iglesias, O. & Ind, N. (2020). Towards a theory on conscientious corporate brand co-creation: The next key challenge in brand management. Journal of Brand Management, 6 (27), pp. 710-720. DOI: 10.1057/s41262-020-00205-7. IF: 1.795 (2019), Cuartiles: Q3 Business Q3 Management, ABS: 2 (2018) The 21st century has seen the emergence of an extraordinarily volatile, uncertain, complex and ambiguous (VUCA) world (Bennet and Lemoine, 2014). Humanity faces significant challenges, such as climate change, increasing inequalities among countries and within societies, and the potential impact of new technologies, including robotization in the labour market. Additionally, the COVID-19 crisis has accentuated these challenges and put more pressure on corporate brands to acknowledge their broader responsibilities and embrace a more conscientious approach to management. In parallel, consumers are becoming more conscious about this emergent reality and research shows the rise of ethical consumerism (Carrigan and Attalla, 2001; Shaw and Shui, 2002), as a mainstream rather than a fringe phenomenon (Carrington et al., 2014; Caruana et al., 2016). Even if, there is still a notable gap between ethical intentions and actual behaviour (Govind et al, 2019), mainstream consumers increasingly take into consideration the impact of their consumption choices upon society and the environment (Shaw and Shui, 2002; Caruana et al., 2016). During the last two decades, many brands have met these challenges through Corporate Social Responsibility (CSR) programmes. Undoubtedly, CSR has helped brands to develop a more conscientious approach to business (Golob and Podnar 2019), while also generating relevant competitive benefits, such as higher levels of customer loyalty (e.g. Lee et al., 2012), stronger brand equity (e.g. Hur et al., 2014), and higher levels of employee commitment (e.g. Skudiene and Auruskeviciene, 2012).

Bermejo Boixareu, V., Campa, J. M., Campos, R. G. & Zakriya, M. (2020). Do foreign stocks substitute for international diversification?. European Financial Management, 26 (5), pp. 1191-1223. DOI: 10.1111/eufm.12275. IF: 1.470 (2019), Cuartiles: Q3 Business, Finance, CARHUS: B (2018), ABS: 3 (2018) We have benefited from comments by the editor (John A. Doukas), an anonymous referee, Javier Díaz¿Giménez, Ilias Filippou, Pedro Ángel García Ares, Gonzalo Gómez Bengoechea, María Gutiérrez Urtiaga, Pablo Ruiz Verdú, Josep Tribó, Lucciano Villacorta, Daniel Wolfenzon, and participants at Universidad Carlos III and the FREE seminar series. Vicente J. Bermejo acknowledges financial assistance from the International Mobility Program UC3M and the Spanish Ministry of Science, Innovation and Universities under PGC2018¿099700¿A¿100. Mohammed Zakriya is thankful for financial support from the Government of Catalonia (grants 2017¿FI_B¿00502, 2018¿FI_B¿00170, and 2019¿FI_B2¿00163). The views expressed in this article are those of the authors and do not necessarily represent the views of Banco de España or the Eurosystem.

Murillo, D. (2020, September). John C Scott. Lobbying and Society: A Political Sociology of Interest Groups. International Sociology, 35 (5), pp. 530-533. DOI: 10.1177/0268580920957937. IF: 1.242 (2019), Cuartiles: Q3 Sociology, CARHUS: B (2018), ABS: 2 (2018) Instructors, researchers and students interested in learning about lobbying will certainly find this text a great introductory guide. The author, John C Scott, is a Research Associate Profefssor at UNC-Chapel Hill, who works on lobbying, taxt policy and the policymaking process. Published by Polity as part of its Political Sociology Series, the book guides the reader -in a comprenhensible, structured and efficient mannerthrough the diverse and often controversial aspects of lobbies. Built on compelling case studies, it takes us through the muddy waters of the Exxon climate change controversy, the civic boycott of racial laws in alabama, the origins of the Tea Party as a grassroots movement (or not) and the battle betwwen the sugar industry and the research on coronary heart disease, among others.

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QUARTILE 4

Casabayó, M., Dávila Blázquez, J. & Rayburn, S. W. (2020). Thou shalt not covet: Role of family religiosity in anti-consumption. International Journal of Consumer Studies, 44 (5), pp. 445-454. DOI: 10.1111/ijcs.12577. IF: 1.538 (2019), Cuartiles: Q4 Business, ABS: 2 (2018) Anti-consumption movements, as resistance or rejection of consumption, are opposed in nature to the values of materialism or the idea that possessions are essential to happiness. This article links one anti-consumption practice, voluntary simplicity, to family religiosity by exploring whether parents' religiosity induces reduced levels of materialism in their children. Children aged 6-14 years and their parents in three secular and one religious school were surveyed, and data were analysed using structural equation modelling. Materialism was divided in four factors: money desire, shopping pleasure, possession pleasure and non¿generosity. Results show that parents with strong religious behaviours have children who exhibit less desire for money and less non¿generosity, but experience a higher shopping pleasure. The effects of parents' religious behaviours on children's materialism are both direct and partially mediated by school type (religious or secular). Religious values in the family environment may contribute to increased anti¿consumption lifestyles in following generations.

Montecinos-Pearce, A., Rodrigo Ramírez, P. & Durán Pinochet, I. J. (2020). When is escalation of commitment unstoppable in group settings? An iterative economic modeling approach to unveil the dark side of group decision-making. Managerial and Decision Economics, 41 (8), pp. 1387-1402. DOI: 10.1002/mde.3190. IF: 0.494 (2019), Cuartiles: Q4 Economics Q4 Management Escalation of commitment (EOC) has been usually studied from a psychological lens, and only recently have scholars approached EOC from an economic perspective. We contribute to this by focusing on iterative decision-making in group settings with a game theory approach. We study how the group members' strategic interaction may result in continuing failing courses of action. Drawing on the Byzantine generals' problem, our model considers an iterative decision-making process where committee participants vote based on private information to escalate or not. Our article demonstrates that if decision-makers reset their beliefs based on the committee's previous decision, then EOC becomes perpetual.

RESEARCH BULLEŰIN Issue 54

ACADEMIC PEER REVIEWED & PROFESSIONAL JOURNALS

Ferrer Vidal, D. (2020). Análisis jurídico de algunos de los aspectos más controvertidos del ajuste secundario: un camino interpretativo en evolución. Crónica Tributaria, (175), pp. 59-92. DOI: 10.47092/CT.20.2.2. CARHUS: A La entrada en el terreno de juego del ajuste secundario en el 2006 fue una de las modificaciones sustanciales del régimen de operaciones vinculadas. Su aterrizaje podría decirse que no ha sido del todo plácido, habiendo sorteado en menos de una década el planteamiento de una cuestión de inconstitucionalidad, así como un cambio normativo. Recientemente los tribunales se han pronunciado de manera clara y contundente en relación a la automaticidad del ajuste secundario y la carga de la prueba. El presente estudio pretende profundizar en estos aspectos, así como en otros que siguen generando un interesante debate técnico, como es la necesidad de calificar el exceso de rentas respecto todos los supuestos de vinculación o el efecto devastador que supone la fragmentación en la calificación de fondos en función del porcentaje de participación, entre otros.

Moll de Alba Mendoza, I. & Montaña Matosas, J. (2020). Packaging sostenible: hacia envases que no dejen huella. Harvard Deusto Business Review, (306), pp. 20-25. Algunas empresas ya están empleando nuevos recursos técnicos y nuevos materiales de origen natural para crear envases y soluciones de empaquetado compostables y biodegradables, que dejen la menor huella posible de su paso por el planeta. En este artículo repasamos algunas iniciativas para lograr un 'packaging' sostenible que resolverían o, al menos, paliarían la compleja situación medioambiental que vivimos actualmente.

Hugas Sabater, J. (2020). Paack: Una iniciativa emprendedora de éxito en "E-commerce". Harvard Deusto Business Review, (305), pp. 60-69. En este artículo, acompañaremos a un grupo de jóvenes que decidieron dejar trabajos bien remunerados para aventurarse a emprender. Desde sus inicios en una aceleradora en Emiratos Árabes hasta la expansión internacional y el interés de los grandes fondos de capital riesgo, la historia de Paack nos enseña que se puede crecer rápido en poco tiempo, así como la importancia de adaptarse siempre a las necesidades de los clientes, cambiando la propuesta de valor si es necesario.

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Castello Molina, J. (2020). ¿Cómo crece una "startup"? El caso de brava Fabrics. Harvard Deusto Business Review, (305), pp. 22-31. Definir correctamente el modelo de ventas que se quiere desarrollar es una de las claves del éxito comercial de una 'startup' o de una empresa de nueva creación. En este artículo se recoge el caso de Brava Fabrics, cuya experiencia permite analizar modelos y metodologías para minimizar los típicos errores que cometen las 'startups' al intentar alcanzar sus objetivos de ventas.

Murillo, D. (2020). El decrecimiento, ¡Uy!. Harvard Deusto Business Review, (304), pp. 49-51. Un artículo reciente en Nature Communications, con el título "Scientists' Warning on Affluence", planteaba tres posibles escenarios ante la crisis ecológica que se nos viene encima: lo que los científicos denominan la vía verde, una vía de adaptación empresarial urgente a los sistemas de producción sostenible. La vía reformista, marcada por un incremento sustancial del activismo regulatorio de los estados. Y el escenario de cambio radical, que parte de la premisa de la incompatibilidad fundamental de nuestros indicadores de éxito con la agenda de la sostenibilidad.

Sancha Fernández, C., Longoni, A. & Giménez Thomsen, C. (2020). The role of national culture on the relationship between sustainability practices and sustainability performance. Journal of Management for Global Sustainability, 8 (2), pp. 65-95. DOI: 10.13185/3399. This paper aims to examine the role of national culture in the relationship between sustainability practices (social and environmental practices) and sustainability performance (social and environmental performance). While previous literature has focused on the influence of national culture on the decision-making and ethical behaviors of managers, the role of national culture on the effectiveness of sustainability practices has been rather neglected. Our study addresses this gap by highlighting the relevance of national culture as a contextual element when implementing sustainability practices in different countries. Based on a multi-level regression analysis using data from 484 firms in nine countries (China, Germany, Hungary, India, Italy, Japan, Malaysia, Slovenia, and Sweden), we found that the impact of social practices on social performance is accentuated in countries characterized by high uncertainty avoidance and high masculinity. The impact of environmental practices on environmental performance, however, is not affected by national culture.

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Aznar-Alarcón, J., Pous i Palacín, B. & Sayeras Maspera, J. (2020). Hotels competition based on online ranking position. European Journal of Tourism Research, 26 (1), pp. 1-6. Electronic word of mouth (eWOM) information has become extremely relevant for the reputation of hotels and is a key variable in terms of their capacity to set prices and improve their occupancy rate. However, overall ratings have a bias towards high values; luxury hotels concentrate on a few ranges of values in terms of their rating, making it more difficult for consumers to differentiate among these hotels. In this context, the ranking position that is unique for each hotel is an additional source of information for potential consumers, and it can have a direct impact on the hotel managers' capacity for setting higher prices. This research proposes a theoretical model of vertical differentiation that adds the ranking position as a part of demand function and analyses the optimum strategy in terms of quality investment and prices for hotels in a given destination. The model is empirically tested using a sample of 102 hotels from the city of Barcelona. Our results suggest that the ranking position has a direct effect on higher prices and that this effect is more important and significant than the effects of rating value or the number of stars on prices.

Sorrentino, A., Fu, X., Romano , R., Quintano, M. & Risitano , M. (2020). Measuring event experience and its behavioral consequences in the context of a sports mega-event. Journal of Hospitality and Tourism Insights, 3 (5), pp. 589-605. DOI: 10.1108/JHTI-03-2020-0026. Purpose. This study aims to analyze the impact of event experience on event satisfaction and intentions to return and recommend the destination. Design/methodology/approach. Relationships among constructs were tested on data gathered from 542 tourists during the America's Cup World Series held in South Italy in April 2013 by using a structural equation modeling approach. Moreover, a multigroup analysis was developed to test the possible moderator factors. Findings. The results revealed that event experience and event satisfaction had positive impacts on the intentions to recommend and return to the host destination. Moreover, nationality, gender and trip motivation emerged as important moderating factors in the relationships among the latent constructs. Research limitations/implications. The findings of this paper enrich the existing literature and help tourism destination marketers and managers consider the triggering factors of a satisfying mega-sports event for the host destination and the marketing power of the on-site experience. Practical implications. Practitioners should draw on the insights provided by this study to design destination strategies, particularly by paying attention to how an event experience causes an attendee to return to and recommend the host destination. Originality/value. This study enriches the existing event literature in several ways. First, it emphasizes the importance of the event experience to the satisfaction level and willingness to return and recommend the host destination for a vacation, supporting the link between an event and its destination. Second, it provides a moderating analysis that offers new insights for marketing the event experience. It offers a multilevel model of mega-event tourism legacy, which opens up new avenues of research. Third, complementing the consumer-based analysis, this research includes the trend of visits (after 2013 to the present) to examine how a megasport event has brought about more postevent visits.

Boonstra, J. J. (2020). Managing organizational cultures in a global world. Holland Management Review, 37 (193), pp. 60-67. The central question in this article is how we can deal with cultural differences in a global world in our organizations. A current view of culture highlights the identity of the organization. This identity is about the purpose and social significance of an organization, the values, unique competences and the strategic choice. With culture as identity, organizational culture disappears as a specific management viewpoint to the background. It is an illusion that an organizational culture is always shared by all people in an organization and that there is unanimity about the cultural values and norms that guide behavior. There are cultural differences between organizations, departments and professional groups. And there are differences in the cultural backgrounds of employees. Groups in organizations also compete among themselves for the significance of the organization. Also, the traditional approach of international management is under pressure because it is no longer enough to understand the influence of national cultures on business development. Understanding these cultural differences is only a first step. Acting internationally means interacting and communicating across national borders, adopting new habits and assessing and understanding unknown things.

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Romboli, S. (2020). La protección de las parejas homosexuales frente a la discriminación en la evolución de la jurisprudencia del Tribunal Europeo: pasado, presente y unas previsiones para el futuro. Anales de Derecho , 38 (1), pp. 1-38. El artículo pretende presentar, en ocasión del sesenta aniversario de la puesta en marcha del TEDH, un atento estudio de la jurisprudencia del Tribunal de Estrasburgo en materia de protección de las personas y de las parejas homosexuales frente a la discriminación por orientación sexual, proporcionando algunas consideraciones críticas sobre la aplicación del art. 14 CEDH en este ámbito y sobre los posibles escenarios futuros. El propósito de la investigación es comprobar las efectivas aportaciones del TEDH en la configuración de un espacio europeo de protección de los derechos y, en particular, si después de varias décadas, el Consejo de Europa ha realmente creado las bases para una concreta y sustancial igualdad entre personas y parejas heterosexuales y homosexuales.

Ferrás-Hernández, X. (2020). Rethinking industry 4.0: Is there life beyond manufacturing?. International Journal of Business Environment, 11 (3), pp. 404-416. DOI: 10.1504/IJBE.2020.111403. Industry 4.0 is a concept born within the business and institutional domain. As a result of its popularity, it has been a focus of academic research since 2012. Industry 4.0 is the result of the convergence of different digital technologies in industrial productive systems. It refers to a digitized model of manufacturing, but there is no consensus on what exactly Industry 4.0 is, where its borders are, what organizational domains it comprises, or what technologies support this model. In practical terms, any company operating under an Industry 4.0 framework is subjected to intense technological change. Therefore, Industry 4.0 must be understood as a dynamic and evolving concept. From the academic perspective, it is necessary to clarify the term, understand the underlying factors and connect Industry 4.0 with other management research streams, such as digital transformation, open innovation or corporate venturing. At the crossroads between Industry 4.0 and these fields, new research opportunities appear.

Ricart, J. E., Snihur, Y., Carrasco Farré, C., Berrone, P., Ricart Costa, J. E. & Carrasco-Farré, C. (2020). Grassroots resistance to digital platforms and relational business model design to overcome it: A conceptual framework. Strategy Science, 5 (3), pp. 271-291. DOI: 10.1287/stsc.2020.0104. Although extant research has studied incumbent resistance to digital platforms, it provides little understanding about when grassroots collective action by other ecosystem stakeholders against the digital platform is likely. In this paper, we identify the scope conditions detailing when local stakeholders can initiate grassroots collective action against the digital platform, a unique context characterized by fast growth, distributed innovation, role flexibility, and direct local connectivity, and propose viable solutions. Our conceptual framework suggests that grassroots collective action against the digital platform is most likely when the digital platform operates with localized scarce assets or localized precarious labor and when actors express their grievances through formalized channels. We combine business model design and stakeholder management perspectives to develop design-based solutions that involve a multisided business model structure, an inclusive stakeholder value proposition, and an ecosystem-centered governance. We call the combination of such design efforts relational business model design. To the incipient theory of digital platforms, we contribute a stakeholder-centered view of platform business models operating within local ecosystems, bridging research on collective action and stakeholder management with strategic management of platforms.

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Planellas Arán, M., Porro Martorell, O. & Alias Priego, J. (2020). Aprendizajes y herramientas de la formación en emprendimiento de ESADE. Cuadernos de Pedagogía, (513), pp. 90-96. Se presenta el modelo de formación en emprendimiento de ESADE que se estructura en base a tres niveles (o ámbitos): la clase ( o aula), el centro (o institución) y el entorno (o ecosistema) y se quieren compartir algunos aprendizajes y herramientas por si pueden ser fuente de nuevas ideas para el mundo de la formación.

Planellas Arán, M. (2020). Aprender a emprender, más necesario que nunca en tiempos de Covid19. Cuadernos de Pedagogía, (513), pp. 56-62. El impacto del Covid-19 en el sistema educativo va a provocar cambios en los procesos pedagógicos y en los objetivos de aprendizaje. Educar en el emprendimiento, es más necesario que nunca en estos tiempos de incertidumbre. Se propone para desarrollar la competencia emprendedora un modelo de siete dimensiones que transitan desde el nivel de la persona (autoconfianza, valores, creatividad), pasando por el equipo (capacidad de relación) hasta el entorno (reconocimiento de oportunidades, organización e implementación).

Santos, S. C., Caetano, A., Costa, S. F., Rueff Lopes, R., Junça-Silva, A. & Neumeyer, X. (2020). Uncovering the affective turmoil during opportunity recognition and exploitation: A nonlinear approach. Journal of Business Venturing Insights, (14), pp. 00184-00184. DOI: 10.1016/j.jbvi.2020.e00184. This study explores the affective turmoil experienced by nascent entrepreneurs during opportunity recognition and exploitation. Based on the affect circumplex model, we employed nonlinear methods to identify configurations of affect that emerge during these early stages of the entrepreneurial journey. We analyzed data from 50 nascent entrepreneurs using Artificial Neural Networks (ANNs) trained with twenty affect dimensions as input variables and opportunity recognition and opportunity exploitation as outcomes. Results show that nascent entrepreneurs experience different affect configurations during opportunity recognition and exploitation. While four configurations of affect emerged associated with opportunity recognition and exploitation, their nature and importance to the experienced event are significantly different. Specifically, "active screening" is the most important configuration of affect during opportunity recognition, while "vigilant" is the most important during opportunity exploitation. We posit that nonlinear methods can help to uncover the affective turmoil experienced by entrepreneurs during a particular event. These findings provide new insights on how affect associates differently with cognition during the early stages of entrepreneurship.

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BOOKS

INTERNATIONAL PUBLISHERS

Federo, R., Saz Carranza, A. & Esteve Laporta, M. (2020). Management and governance of intergovernmental organizations. Cambridge: Cambridge University Press (CUP). DOI: 10.1017/9781108908283. What happens to intergovernmental organizations (IGOs) after their creation has remained in mystery over the years. Although the current globalized outlook has sparked new and growing interests on the role that IGOs play in the global landscape, the scholarship has largely focused on the political aspects of cooperation, primarily on how and why different IGO member states interact with each other and the outcomes associated with such cooperation. Research is yet to untangle how these organizations work and operate. This Element addresses this niche in the literature by delving into two important aspects: the management and governance of IGOs. We build on a four-year research program where we have collected three types of different data and produced several papers. Ultimately, the Element seeks to provide scholars with a description of the inner workings of IGOs, while providing guidance to policymakers on how to manage and govern them.

RESEARCH BULLEŰIN Issue 54

BOOK CHAPTERS

INTERNATIONAL PUBLISHERS

Hahn, T. (2020). Business sustainability as a context for studying hybridity. In Besharov, M. & Mitzinneck, B., Organizational hybridity: Perspectives, processes, promises (pp. 115-138). Bingley; Bradford: Emerald. DOI: 10.1108/S0733-558X20200000069006. Business sustainability urges firms to simultaneously address economic, ecological, and social concerns. It innately combines different potentially competing organizational elements. Therefore, sustainability represents a suitable context for the study and practice of hybridity. Based on an understanding of hybridity as a continuum, in this paper, I distinguish between four different forms of hybridity for business sustainability, depending on the degree of integration and autonomy of sustainability initiatives in business organizations. With ceremonial hybridity, businesses only leave the impression to pursue business and sustainability goals but focus their practices on conventional business priorities. Contingent hybridity denotes an approach where ecological and social concerns are only pursued to the extent that they align with business goals. With peripheral hybridity firms pursue sustainability initiatives in their own right but do not integrate them with core business activities. Full hybridity puts both business as well as sustainability at the core of the organization without emphasizing one over the other. These different forms of hybridity in business sustainability are illustrated with examples from various business organizations. By characterizing different degrees of hybridity in business sustainability, the argument and the examples highlight how organizational hybridity and business sustainability can fruitfully inform one another. I develop research opportunities for using business sustainability as a context for studying different degrees as well as the dynamics of hybrid organizing and for using different degrees of hybridity for achieving a better understanding of different pathways towards substantive business contributions to sustainable development.

Duplá, T. (2020). Last will during an epidemic: some considerations about the forms admitted in Spanish law / El testamento en tiempo de pandemia: algunas consideraciones en torno a la sformas admitidas por el ordenamiento jurídico español. In Burda, E., Lázaro-Guillamón, C. & Sitek, M., State and society facing pandemic (pp. 283-296). Bratislava, Comenius University in Bratislava The exceptional nature of the moment we are living has evidenced, on the one hand, the importance of prevention and planning in the field of post-mortem estate law and, on the other, the different possibilities that our Legal System offers us when disposing mortis cause. The current context of a pandemic, with an unpredictable increase in mortality, has led us to a situation of confinement and isolation that is difficult to fit in with the typical formalisms of last will provisions that provide, in the Spanish legal system, protection through of the notarial control. For all these reasons, the purpose of this work is to analyze and review the testamentary forms or mortis causa provisions admitted by Spanish civil law, of possible use in times of epidemic, taking into account that in Spain they coexist, together with civil law state, six foral civil rights, with their specific features. Thus, it should be remembered that, in view of the afore mentioned private legal pluralism, the rule of habitual residence linked to the so-called civil neighborhood (art. 14 cc) is the one that will determine the succession law applicable to each case.

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ACCEPTED PAPERS IN ACADEMIC CONGRESSES

Nguyen, J. T. Van, Armisen-Morell, A., Agell, N. & Saz Carranza, A. (2020, September). Aggregating news reporting sentiment by means of hesitant linguistic terms. In Modelling Decisions with Artificial Intelligence (MDAI 2020), Barcelona.

This paper focuses on analyzing the underlying sentiment of news articles, taken to be factual rather than comprised of opinions. The sentiment of each article towards a specific theme can be expressed in fuzzy linguistic terms and aggregated into a centralized sentiment which can be trended. This allows the interpretation of sentiments without conversion to numerical values. The methodology, as defined, maintains the range of sentiment articulated in each news article. In addition, a measure of consensus is defined for each day as the degree to which the articles published agree in terms of the sentiment presented. A real case example is presented for a controversial event in recent history with the analysis of 82,054 articles over a three day period. The results show that considering linguistic terms obtain compatible values to numerical values, however in a more humanistic expression. In addition, the methodology returns an internal consensus among all the articles written each day for a specific country. Therefore, hesitant linguistic terms can be considered well suited for expressing the tone of articles.

Pujol Priego, L. & Wareham, J. (2020, December). The stickiness of scientific data. In International Conference on Information Systems (ICIS) 2020, Hyderabad.

Researchers are generating unprecedented volumes of data. As the expectations of big scientific data grow, the expectations on the potential of sharing it grow as well. Government-funding entities have placed data sharing at the crux of scientific policy. Yet, considering the apparent barriers to its wide adoption, we lack a recent overview of whether researchers share their data, how and what mechanisms enable research data sharing (why). Our study engages in a mixedmethod design by combining survey data collected in 2016 and 2018; and qualitative data from two case studies sequentially sampled within two scientific communities: high-energy physics and molecular biology. As a lens to understand the factors behind data sharing practices, we draw upon the notion of epistemic cultures and the collective action theory perspective to shed light on the incentives and deterrents that scientists confront when considering contributions to the collective goods of data sharing

Cano Giner, J. (2020, October). Los retos de la transformación digital para la universidad del siglo XXI. In III Simposio Iberoamericano en simulación de negocios, Mexico City.

Llevamos muchos años hablando de digitalización, pero lo verdaderamente disruptivo es la transformación. No se trata de aplicar la digitalización a lo que ya hacíamos, sino de pensar qué nos puede aportar la digitalización en el ámbito universitario. Como en todo proceso de transformación digital, debemos fijarnos en tres ejes principales: el producto o servicio, la relación con el cliente y el backoffice.

Forte Arcos, S. & Lovreta, L. (2020, September). Credit default swaps, the leverage effect, and cross-sectional predictability of equity and firm asset volatility. In Virtual World Finance Conference 2020, Valletta.

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.

RESEARCH BULLEŰIN Issue 54 Villanueva, J., Sapienza , H., Sudek , R. & Batista-Foguet, J. (2020, October). How storytelling helps entrepreneurs gain access to external resources: The role of narrative persuasion. In SMS 40th Annual Conference, London.

Drawing on theories of narrative persuasion, we formulate and test a theoretical model that extends our understanding of the persuasive effects of storytelling on early-stage investors' evaluative judgments regarding entrepreneurial opportunities, articulating the specific mechanisms through which these effects take place. We conducted an experiment with 188 active angel investors and found that storytelling, a form of communication, influences investors' opportunity perceptions and that this influence goes through the investors' degree of identification with the entrepreneurs and their assessments of the entrepreneurs' level of motivation. Some of these effects are amplified by the use of intense language. These findings contribute to our understanding of the persuasive role of storytelling in the context of entrepreneurial resource access specifically and managerial judgment and decision-making more generally.

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CASES

Bertini, M. & Koenigsberg, O. (2020, November). Twisterden: Pricing a go-to-market strategy [Case study]. London: London Business School. The goal of this exercise is to help students understand the problem of double marginalization in a firm's go-to-market decisions and consider different means to address it. Specifically, in the first part of the exercise students are encouraged to calculate the financial impact on Twisterden, a British winery, of sticking with the direct-to-consumer strategy versus engaging with one or more wine merchants. The second part introduces two possible retail partners, Cult Drops and Fancy Grapes, as the idea is to engage students in a discussion of the type of mechanisms and retailer characteristics that may facilitate dealing with an intermediary. Overall, the debate in class is supported by handson calculations, where students defend their preferred course of action and make recommendations based on the data provided in the exercise.

Vinaixa Serra, J. & Vanrespaille, W. (2020, December). The "Gran Recapte": The Great Food Collection Campaign [Case study]. Bedford: The European Case Clearing House (ECCH). This is a Spanish version. There are many and different courses on project management, and many of them use cases to practice the methods taught in class. However, there are only a few courses that use cases within the scope of non-profit organizations. The case of the Gran Recapte is designed to fill this gap and show how the application of the most current tools and concepts for project management can provide great value in managing projects in nonprofit organizations and NGO's. The Gran Recapte is a project that normally repeats every year. The case describes the 2017 Gran Recapte, but the discussion of the case and the teaching note are designed for students to work on the 2018 Gran Recapte project, so that they can do the exercise on a new project.

Cano Giner, J. & Fox, P. (2020, November). Sharing academy: Introducing peer-tutoring in Spanish universities [Case study]. Monterrey: Tecnológico de Monterrey. Centro Internacional de Casos (CIC). Jordi Llonch fundó Sharing Academy en 2015, una plataforma de tutoría entre pares, con el objetivo de reducir drásticamente las tasas de deserción universitaria al brindarles a los estudiantes con dificultades la ayuda que necesitaban. Para el verano de 2017, la compañía había crecido a más de 9.000 miembros de 53 universidades en España, con 1.500 tutores que ofrecían más de 10.000 cursos. Sin embargo, Jordi estaba teniendo problemas para conseguir el dinero necesario para hacer crecer la empresa. Sin más inversiones y con signos de desaceleración en el crecimiento, Jordi se enfrentaba al clásico dilema de las start-ups: Pivotar, Perseverar o Straddle (perseguir dos modelos de negocio diferentes en paralelo). A pesar de lo que decían los números, Jordi estaba luchando con la decisión de renunciar a su visión original, o cambiar la industria de la educación reduciendo la tasa de deserción universitaria a prácticamente cero (la cifra para 2015 fue del 22,5% o sea casi tres de cada trece estudiantes).

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ESADE'S PUBLICATIONS

Cordobés Tejeiro, M., Sureda Varela, M. & Carreras Fisas, I. (2020). ONG emprendedoras, nuevos modelos de ingresos, organizaciones híbridas. Barcelona: ESADE. Instituto de Innovación Social; PwC. La publicación "ONG Emprendedoras", resultado del trabajo realizado, durante el curso 2019-2020, en el marco del Programa de Liderazgo Social de Esade-PwC, presenta un diagnóstico sobre el estado del sector, a la vez que ofrece una guía y herramientas prácticas para ayudar a las entidades a aumentar su carácter emprendedor, así como para avanzar en nuevos instrumentos de financiación. Dentro del contexto de profunda transformación, las entidades sociales deben adquirir una actitud emprendedora que les permita adaptarse a los nuevos retos sociales y medioambientales. El emprendimiento e intraemprendimiento permite a las ONG obtener una capacidad crítica para la supervivencia en este entorno, explorar y saber aprovechar mejor nuevas oportunidades. Una actitud emprendedora implica estar a la vanguardia del cambio social y adelantarse a las demandas que puedan surgir en el futuro, identificando enfoques novedosos que permitan responder a los crecientes retos sociales.

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PHD THESIS

LAW SCHOOL

CREMADES CHUECA, ORIOL Identificación y fundamentos jurídicos de la responsabilidad laboral en el grupo de empresas en España Director: Sergio Llebaría (Esade - Universitat Ramon Llull) e Ignacio Beltrán (UOC) Date of defense: 10/09/2020 Abstract: El objeto de esta tesis doctoral es estudiar la responsabilidad laboral en el grupo de empresas y sus fundamentos jurídico-laborales en el Derecho Español. Mediante el análisis jurídico y dogmático junto con la incorporación de aspectos del Análisis Económico del Derecho, se persigue determinar si el modelo jurisprudencial español utilizado actualmente para identificar y atribuir responsabilidad laboral en el grupo de empresas es eficaz, efectivo y si responde a un criterio de eficiencia. La finalidad última es determinar si dicho sistema jurisprudencial resulta adecuado para la protección de los trabajadores en España y, en caso negativo, proponer una matriz conceptual y unos fundamen tos jurídicos más adecuados a este propósito y, en todo caso, realizar propuestas de lege data y de lege ferenda para dotar de mayor seguridad jurídica a todos los operadores jurídicos en esta materia.

VALDÉS PONS, SILVIA El contrato de cash pooling en los grupos de sociedades. Aspectos societarios y concursales Director: Miguel Trías (Esade - Universitat Ramon Llull) y José Machado (UB y UOC) Date of defense: 24/07/2020 Abstract: En este trabajo se examina el contrato de cash pooling en los grupos de sociedades. El contrato puede definirse como un modelo de gestión centralizada de la tesorería que tiene como finalidad principal optimizar la posición global del conjunto. La ausencia de regulación en el ordenamiento jurídico español tanto del contrato de cash pooling como de los grupos de sociedades, plantea notables problemas que no pasan desapercibidos desde el punto de vista del Derecho positivo. En esta tesis se analizan, en concreto, los de naturaleza contractual, societaria y concursal.

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BUSINESS SCHOOL

BAUDOIN, LUCIE Testing the waters: dealing with freshwater systems in organization and management studies Director: Daniel Arenas (Esade - Universitat Ramon Llull) Date of defense: 10/11/2020 Abstract: Freshwater systems - such as rivers, lakes or wetlands - provide a myriad of ecosystem goods and services to human societies. Nonetheless, the management of those systems is complex, inter-organizational and often unsustainable from an ecological perspective. Research in organization and management studies, although potentially fruitful, cannot contribute to solving this issue as long as it does not include conceptually ecological aspects of freshwater systems, or does not take a system perspective. Such conceptual and methodological recommendations are easier said than done. How can organization and management studies integrate the inter-organizational management of a freshwater system with the ecological conditions of that system? This PhD thesis endeavors to learn by doing and studies th e relationship between the inter-organizational management of freshwater systems and the ecological condition of those systems in various ways, with an interdisciplinary approach. Three essays and three methodological approaches are developed - a systematic review of the existing management literature on freshwater management, a qualitative study of ecological embeddedness, and a quantitative test of the ecological outcomes of different forms of actors' participation.

VON SCHUCKMANN, JULIA Crossing the line? Three essays exploring moral ambiguity in the marketplace Director: Marco Bertini (Esade - Universitat Ramon Llull) Date of defense: 28/10/2020 Abstract: Marketplace morality is defined as consumers’ beliefs about what is right and wrong in the marketplace. In other words, marketplace morality refers to morality within any market setting with a potential exchange relationship between two parties. Extensive research in the field of morality in the marketplace essentially consists of clearly immoral or clearly moral behavior. This thesis demonstrates with three essays that moral judgment in the marketplace might not only be ambiguous at times, but also sensitive to the market environment. This thesis demonstrates in the first two essays that the ambiguity of morality in the marketplace is at least partially caused by the context: while in one given context the consumption experience might be judged as appealing, in a different context the same experiences might be judged as appalling. The third essay approaches moral ambiguity in the marketplace from a different angle. The third essay looks at the same phenomena from the viewpoint of firm-customer relationships and adds conceptually to the marketing literature by demonstrating how price communication can be perceived as deceiving and immoral to the consumer, therefore hurting firm-customer relations. While the first two essays are empirical essays, the third essay explores conceptually how the morally ambiguous behavior is reflected in the market place.

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NEW PHD CANDIDATES

LAW SCHOOL

BAYLINA MELE, Marta

Thesis theme: Intellectual property

CUENCA MARQUEZ, Rocío Thesis theme: Civil law

BUSINESS SCHOOL

CHENG, Qian (Akane)

Supervisor: Katharina Schmid Research Group: GLEAD

DI STASI, Matteo

Supervisor: Jordi Quoidbach Research Group: GLEAD

ERRICO, Marco

Supervisor: Petya Platikanova Research Group: GREF

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MARTIN, Daniel

Supervisor: Pedro Rey Research Group: GREF

VU, Thuy Linh (Jenny)

Supervisor: Ariadna Dumitrescu Research Group: GREF

DING, Benji

Supervisor: Xavier Ferrás Research Group: IIK

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VISITING PROFESSORS AND POSTDOC RESEARCHERS

Puttonen, Vesa

Head of Department of Finance Aalto University Findland Invited by: Mar Vila Dates: September 2020 – June 2021

Baier, Alexandra

PhD student Universität Innsbruck Austria Invited by: Pedro Rey Dates: September 2020 – December 2020

Martín, Myriam

Post-doc Universitat de les Illes Balears Spain Invited by: Pedro Parada Dates: October 2020 – December 2020

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COMPETITIVE RESEARCH PROJECTS WHICH HAVE WON FUNDING

EUROPEAN ENGAGE: Envisioning a New Governance Architecture for a Global Europe Ref: GA 962533 Principal Investigator: Angel Saz Research group: EsadeGeo Funding body: European Union Funding: 198.072,42€ (Total 2.999.973,75€) Duration: 42 months

The ENGAGE (“Envisioning a New Governance Architecture for a Global Europe”) project will advance the goals that are aligned with the European Commission’s push to have a stronger and more united European voice in the world. ENGAGE will answer how the EU can effectively and sustainably harness all of its tools in a joined-up external action, with an eye to meeting key strategic challenges and becoming a stronger global actor. Our contribution to this ambitious quest will be anchored to a comprehensive and detailed analysis of all dimensions of EU external action, which will go even beyond the call’s requirements. ENGAGE brings together a consortium that provides first-class academic expertise of European and international scholars who cover the entire scope of the EU’s external action, involving many practitioners with vast experience in relevant governmental bodies. Our project will be based on 11 Work Packages (WPs). Two initial WPs will provide an analytical grip on the contextual hurdles, both international and domestic, that the EU faces in the implementation of its external policy. This will in turn inform the other core research WPs of ENGAGE, which are divided into two interconnected clusters. The first cluster will aim to revamp the governance architecture of CSDP, CFSP as a whole, and other dimensions of EU external action (including peripheral and sectoral diplomacies), while the second cluster will aim to improve the performance of the EU’s external action when engaging with strategic partners, its neighbourhood and conflict scenarios. The contextual WPs and the two clusters will converge in a strategic WP – the cornerstone of ENGAGE – that will produce a White Paper for Joined-up, Coherent, Sustainable, and Effective External Action. All of ENGAGE’s deliverables and recommendations will be targeted at policymakers across the EU, and seek to spark an inclusive and representative EU-wide conversation.

EXPAND: A Challenge-based Idea Accelerator & Toolbox Principal Investigator: Lisa Hehenberger Research group: EEI - GRIE Funding body: European Union Funding: 127.085,00 € (Total 812.875,00€) Duration: 36 months EXPAND will develop a toolbox for implementing ‘Challenge Based Idea Accelerators’ and run a first Idea Accelerator focused on homelessness. The toolbox is aimed at higher education teaching staff and will enable a practical new method responding to the need for more civic engagement, developing new problem solving skills and stimulate social entrepreneurship in students. The proposed project builds on the creativity of students combined with design thinking and challenge-based education to tackle societal challenges, with a focus on homelessness in the pilot programme. We call out for students, innovators, creative thinkers, tech people and the higher education world, in particular, to join forces and bring heavyweight social challenges in the spotlight. Our project aims to forge unlikely alliances across a wide spectrum of partners to define a viable, replicable and scalable methodology for tackling systemic societal problems. In this project, we will design a 4 month idea-accelerator with a strong focus on the needs analysis of the challenge in question resulting in a public demo day. The alliance will consist of business school teaching staff, design thinking experts, social enterprise leaders with expertise on how to tackle the issue and startup professionals. These different actors will work together in order to finetune the methods to the specific environment and challenge, in this case homelessness. The main output of the project will be: - An ecosystem map - The challenge-based idea accelerator programme itself - The toolbox aimed at higher education teaching staff. - The business cases resulting from the first idea accelerator. - Reports with insights on the local ecosystems working on homelessness.

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ALHAMBRA: Alcohol Harm - Measuring and Building Capacity for Policy Response and Action Ref: Offer number 146034 Principal Investigator: Eva Jané Research group: IIS-GRRSE Funding body: European Union Funding: 141.375,00 € (Total 1.399.014,00€) Duration: 30 months Alhambra is a project tendered by the European Commission’s Consumers, Health, Agriculture and Food Executive Agency (CHAFEA) to address 6 large inter-connected alcohol policy research areas with regards to European alcohol production, sales, consumption and policy responses. In Alhambra, ESADE is responsible for two distinct areas of work. The first aims to assess the alcohol impacts beyond the health sector, and highlight the centrality of Health in All Policies for addressing alcohol related harm, like considering health impacts in marketing, taxation, agriculture, education etc. This work will further unpack alcohol’s impact on the Sustainable Development Goals (SD Gs), looking into its negative economic and social consequences (e.g., loss of earnings, unemployment, family problems, violence, crime, stigma, barriers to healthcare, as well as the broader environment, biodiversity, water and food resources, climate, cities, etc.). Unravelling the interrelations between alcohol and the SDGs, its positive and negative impacts and related socio-economic externalities, and how this links to non-health policies will inform the development of a compelling case for: Alcohol In All relevant Policies. A second area of work addresses workplace policies for alcohol prevention and control. Alcohol consumption has more effect on job productivity than on number of workdays missed, with associated costs being about half of the total social cost of alcohol in the EU. From an analysis of effective policies across Europe a set of policy measures will be developed for uptake in large employers and SMEs. Both strands of work will draw from data from a series of systematic reviews, analyses of existing grey literature, key informants’ interviews and bring in knowledge and know-how from other partners in the international consortium, to finally triangulate all the evidence to develop key recommendations for the EU.

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NATIONAL PhD student for SERSITEMICS Ref: PRE2019-091668 Principal Investigator: Ivanka Visnjic Research group: IIK Funding body: GENERACION DE CONOCIMIENTO 2019 – MICIU (Ministerio) Funding: 98.250,00 € Duration: 48 months Prof. Ivanka Visnjic is joined by a PhD student funded by MICIU’s Formación Personal Investigador (FPI) Programme, to work on her research project SERSITEMICS. This project analyzes the relevance of systemic service innovations (IPS or “servitization”), its impact on the configuration of companies’ production processes organization, the role played by new product-service business models and new value propositions for obtaining competitive advantage, and the achievement of dominance position and greater income generation in the business ecosystems where firms operate.

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CATALAN Industrial PhD Ref: 2020 DI 61 Principal Investigator: Bingjie Ding - Xavier Ferràs Research group: JUICE-Esade D3 Funding body: AGAUR Funding: 21.600,00€ Duration: 38 months URL Call for Grants for Increasing Research Dedication Ref: 2020-URL-IR2nQ-031 Principal Investigator: Anna Ginès Research group: IEL Funding body: Universitat Ramon Llull Funding: 7.845,00€ Duration: 6 months URL Call for Grants for Increasing Research Dedication Ref: 2020-URL-IR2nQ-034 Principal Investigator: Daniel Arenas Research group: IIS - GRRSE Funding body: Universitat Ramon Llull Funding: 14.045,00€ Duration: 6 months URL Call for Grants for Increasing Research Dedication Ref: 2020-URL-IR2nQ-035 Principal Investigator: Frank Wiengarten Research group: BUNED Funding body: Universitat Ramon Llull Funding: 13.680,00€ Duration: 6 months URL Call for Grants for Increasing Research Dedication Ref: 2020-URL-IR2nQ-038 Principal Investigator: Ignasi Martí Research group: IIS - GRRSE Funding body: Universitat Ramon Llull Funding: 8.250,00€ Duration: 6 months

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URL Call for Grants for Increasing Research Dedication Ref: 2020-URL-IR2nQ-039 Principal Investigator: Joan Rodon Research group: BUNED Funding body: Universitat Ramon Llull Funding: 5.000,00€ Duration: 6 months URL Call for Grants for Increasing Research Dedication Ref: 2020-URL-IR2nQ-043 Principal Investigator: Vicenta Sierra Research group: BUNED Funding body: Universitat Ramon Llull Funding: 7.440,00€ Duration: 6 months

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NON-COMPETITIVE RESEARCH PROJECTS WHICH HAVE WON FUNDING

INTERNATIONAL Influence of cultural background on family business outcomes Principal Investigator: María José Parada Research group: EEI - GRIE Funding body: Tenece Professional Services Ltd Funding: 100.000,00 € Duration: 24 months To hire a postdoctoral researcher from the 2020-2021 academic year to the 2021-2022 academic year.

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NATIONAL Observatorio de la Inversión de Impacto en España. Estudio de la Oferta Principal Investigator: Lisa Hehenberger Research group: EEI - GRIE Funding body: SpainNAB Funding: 30.000,00 € Duration: 12 months The objectives of the study to be carried out by ESADE are the following: - Create a database on impact investing in Spain to inform the market and its players through the publication of research studies, benchmarking and trend analysis. - Take a periodic photograph of the state of impact investment in Spain to observe its evolution and analyze the different segments that comprise it. - Giving visibility to the impact investing sector in Spain, attracting new players. - Position Spain as a country of reference in the global context of impact investing.

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AGENCIES' EVALUATION

ACCREDITATIONS

Romboli, Silvia Lecturer accreditation issued by AQU (The Catalan University Quality Assurance Agency) 11/2020

Nguyen , Jennifer Lecturer accreditation issued by AQU (The Catalan University Quality Assurance Agency) 11/2020

Redigolo, Giulia Lecturer accreditation issued by AQU (The Catalan University Quality Assurance Agency) 11/2020

Guillén Ramo, Laura Research accreditation issued by AQU (The Catalan University Quality Assurance Agency) 12/2020

Esteve Laporta, Marc Advanced research accreditation issued by AQU (The Catalan University Quality Assurance Agency) 12/2020

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MERITS IN RESEARCH

Agell Jané, Núria 3rd period Merits in research issued by AQU«Subtipo_Acreditacion» (The Catalan University Quality Assurance Agency) 12/2020

Nin Guerrero, Jordi 2nd period Merits in research issued by AQU«Subtipo_Acreditacion» (The Catalan University Quality Assurance Agency) 12/2020

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AWARDS

Daniel Blaseg Best Paper Award in Entrepreneurial Cognition Managerial and Organizational Cognition Division of the Academy of Management Aug 2020

Daniel Blaseg KSG Best Entrepreneurship Research Award 24rd Annual Interdisciplinary Conference on Entrepreneurship, Innovation and SMEs Oct 2020

Daniel Blaseg Roman Herzog Research Prize for Social Market Economy Roman Herzog Research Institute Oct 2020

Daniel Blaseg Research Award of the Corporate Finance and Capital Markets Foundation Corporate Finance and Capital Markets Foundation Nov 2020

Daniel Blaseg Wolfgang Ritter Prize Wolfgang-Ritter-Foundation Nov 2020

Boonstra, J. J. CEMS award for Global Leadership Practice course 2020

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RESEARCH SEMINARS

Judith L. Walls Institute for Economy and the Environment,University of St. Gallen September 18th Title: The pride and joy - and guilt - of trophy hunting: Emotional narratives in a contested industry Abstract: Trophy hunting—the hunting for pleasure—is a socially contested and morally debated industry. Strong arguments have been made for and against trophy hunting, and the debate around it has become a ‘culture war.’ Central to the debate are emotions. As expected, opponents and proponents of the industry use emotional narratives to delegitimize each other’s stance through the use of other-directed, negative emotions. Interestingly, however, proponents of trophy hunting use positive emotions in their narratives to buffer themselves from criticism directed at their practices through bonding processes that form a defense. At the same time, this group uses self-directed negative emotions to monitor their practices through governance processes. Our findings show that a wide range of both negative and positive emotions are beingused to defend a heavily contested industry and preserve its legitimacy. Understanding the emotional processes of such debatesare an important first step to resolving contested industries.

Martí Guasch Assistant Professor at Tilburg University October 2nd Title: The effect of investors’ perceptions and entrepreneurs physical displays on firm forecasts, valuation, investment, and survival Abstract: We study how investor perceptions of entrepreneurs’ personal characteristics and physical display relate to firm financial projections, proposed firm valuation, firm survival, and equity investment. We videotaped a sample of 155 entrepreneurs pitching their business idea to an audience of early stage investors, and obtain perceived personal characteristics measures and physical coordinates of entrepreneurs’ nonverbal displays. We show that presence—a component capturing passion and dominance—and attractiveness correlate with higher forecast errors and proposed firm valuations, lower rates of survival, yet higher likelihood of equity funding. We also use computer vision to construct an objective measure of physical expansiveness (an attribute commonly found in passionate, dominant, and attractive individuals), and confirm the above findings. Altogether, we argue that investors’ perceptions of entrepreneurs are informative of firm forecasting, valuation, survival and financing success; which are important factors in the assessment of early stage investment opportunities, deal structure, and ex-post monitoring.

David Wehrheim Assistant Professor of Strategic Management, IESE Business School October 8th Title: Why do firms engage in scientific research?A capital market perspective Abstract: We study how information asymmetries in capital markets affect corporate research and disclosure policies. We employ a quasi-natural experiment that exploits plausibility exogenous reductions in analyst coverage, resulting in increased information asymmetries and thus the costs of capital. We find that firms respond to the coverage loss by increasing scientific publication outputs. In contrast, the change in analyst coverage has no impact on patenting activities or the use of scientific knowledge in firms’ downstream inventions. We also find that the effect of coverage on scientific publications is concentrated among firms with greater ex ante financial constraints and weaker internal governance mechanisms. Overall, our evidence lends support to the idea that managers use corporate science to signal unique firm competences to capital markets but more entrenched managers are less willing to incur the costs associated with spillovers to rivals. Co-authors: Stefano H. Baruffaldi (University of Bath, School of Management, United Kingdom) and Markus Simeth (Copenhagen Business School, Department of Strategy and Innovation, Denmark).

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Verena Schoenmueller Assistant Professor, Marketing Department Bocconi University October 15th Title: Polarized America: From political polarization to preference polarization Abstract: In light of the widely discussed political divide and increasing polarization post the 2016 U.S. presidential election, we investigate in this paper whether the polarization of political ideology extends further to the preferences, intentions, and consumption of individuals for commercial brands, media sources, and nonprofit organizations. Using publicly available social media data of over 200 million Twitter users’ brand followerships, we first establish measures of political ideology of brands, which we term preference partisanship. Applying this measure to a longitudinal dataset of Twitter followership we assess the evolution of brand preference polarization. Our results show that the claimed polarization in political ideologies post the 2016 election stretches further to the daily lives of consumers. We observe increased polarization in preferences, behavioral intentions and actual purchase decisions of consumer brands. Consistent with compensatory consumption theory, we find that the increase in polarization post-election is stronger for liberals relative to conservatives. From a brand perspective, we show that brands can affect the degree of their political polarization by taking a political stand. We provide a publicly available API that allows access to our data and results.

Verónica Villena Assistant Professor at Smeal College of Business, Penn State University October 21st Title: Untangling drivers for supplier environmental and social responsibility: An investigation in Philips Lighting’s Chinese supply chain Abstract: This study unpacks the environmental and social dimensions of supplier responsibility and links each dimension to distinct drivers. Using stakeholder theory and the relational view, we distinguish between two main drivers: stakeholder pressures (i.e., from regulatory agencies, customers and NGOs) and relational mechanisms offered by multinational companies (MNCs) (i.e., lean trainings and relational capital). We used a multi-method research design to study how these drivers uniquely influence supplier responsibility in an emerging-country context. An in-depth case study with Philips Lighting and ten of its Chinese suppliers reveals causal inferences that link stakeholder and relational drivers with each responsibility dimension (environmental versus social). Audit and survey data from Philips Lighting’s 134 Chinese suppliers, complemented with four archival databases, bolster these inferences. Overall the results show that supplier environmental responsibility can be fostered through both stakeholder pressures and relational drivers; supplier social responsibility is much harder to address. The integrated methods offer a fuller, more comprehensive understanding of the specifics of supplier responsibility in China and also provide recommendations for MNCs that seek to improve it.

Xavier Vives Professor of Economics and Finance, Abertis Chair of Regulation, Competition and Public Policy, and academic director of the Public-Private Research Center at IESE Business School October 22nd Title: Common ownership and competition policy Abstract paper 1: We develop a tractable general equilibrium framework in which firms are large and have market power, with respect to both products and labor, and in which a firm’s decisions are affected by its ownership structure. We characterize the Cournot–Walras equilibrium of an economy where each firm maximizes a share-weighted average of shareholder utilities— rendering the equilibrium independent of price normalization. In a one-sector economy, if returns to scale are non-increasing then an increase in “effective” market concentration (which accounts for common ownership) leads to declines in employment, real wages, and the labor share. Yet when there are multiple sectors, due to an intersectoral pecuniary externality, an increase in common ownership could stimulate the economy when the elasticity of labor supply is high relative to the elasticity of substitution in product markets. We characterize for which ownership structures the monopolistically competitive limit or an

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oligopolistic one are attained as the number of sectors in the economy increases. When firms have heterogeneous constant returns to scale technologies we find that an increase in common ownership leads to markets that are more concentrated. Abstract paper 2: We investigate how changes in firms’ ownership structures affect their strategic incentives in product markets. We show that firms’ common ownership incentives, i.e., the profit loads managers should place on competing firms, increase if the holdings of more diversified investors’s increase relative to those of less diversified-investors. Abstract paper 3: We extend the model in Azar and Vives (2018) to allow for investment and show that higher effective market concentration (augmented by common ownership) leads to lower equilibrium wages, real interest rates, lower output, lower labor share, and lower capital share as well (under a mild condition). We calibrate a multisector sector model of the US economy and find that the rise in common ownership may account for the broad evolution of labor and capital shares in the period 19852015 while measured increases in concentration cannot (under plausible values for elasticity parameters).

Andrea Caggese Associate Professor, Economics Department, Pompeu Fabra University October 29th Title: Which workers suffer (or benefit) from firm-level uncertainty shocks? Abstract: We develop a tractable uncertainty shocks negatively affect firm-level projects that require large upfront sunk costs. While most of the empirical literature focuses on the effects of uncertainty on fixed capital investment, several recent papers have documented a secular shift in the way that firms produce, with an increasing importance of intangible inputs. The rise of intangible capital also implies a rising importance of skilled labour as factor of production, and uncertainty shocks are likely to be important for these employment decisions, which imply several types of sunk costs, such as search costs, training costs, and firing costs. In this paper, we shed light on the interplay between firm- level uncertainty shocks and heterogeneous employment decision for the population of Swedish firms and workers for 1997-2014. Our hypothesis is that uncertainty shocks, in addition to potentially affecting total employment, can have important composition effects. First, they might favour the hiring of workers that require lower initial sunk costs, such as for example workers that need less training. Second, they might encourage the firing of those workers that, because of their characteristics, are less “flexible” and less easily requalified to different tasks or in general less able to adapt to a more uncertain environment. We construct a firm-specific index of profit uncertainty using shrinkage methods on commodity prices, and we find support for both hypotheses. Furthermore, additional robustness checks suggest the role of disruptive high uncertainty episodes as creative destruction periods for the labour force.

Giovanni Gruni Beatriu de Pinos Research Fellow at the Esade Law School November 2nd Title: Work-from-home and contributions todigital public goodsStronger promotion and enforcement: Retooling the labour and environment standards in EU Free Trade Agreements Abstract: The EU is extremely active in negotiating bilateral free trade agreements (FTAs) with preferred trading partners (such as Canada, Colombia, Japan, Korea, Mercosur, Mexico, Peru, Singapore, Vietnam). All these FTAs contain a sustainability chapter, covering labour and environmental standards. Their enforcement however, has proven to be weak. In response to increasing calls notably from the European Parliament and civil society, the incoming von der Leyen Commission has promised improvements. This article sets forth a four-pronged proposal: tightening up the standards, upgrading an existing private complaints procedure in the EU as well as FTA dispute settlement, while introducing various sanctions.

RESEARCH BULLEŰIN Issue 54

Wesley W. Koo Assistant Professor of Strategy, INSEAD November 5th Title: Work-from-home and contributions todigital public goods Abstract: Digital public goods, such as posts on online knowledge communities, are an essential resource for platform companies. By encouraging innovation and promoting social exchange, they are also important for society at large. The recent increase in work-from-home (WFH) arrangements in labor force worldwide, induced by the coronavirus pandemic, poses an open question: Does increased WFH lead to more or fewer contributions to digital public goods by workers? We study users on a popular Chinese question-and-answer platform, and we construct a natural experiment in which workers in Wuhan were forced to work from home while workers outside of Wuhan resumed normal, physical work. We find that, compared to physical work, WFH is associated with 11% more posted answers on the platform. Meanwhile, the relationship between WFH and answer count is more prominent among female users. Finally, we use sentiment analysis to reveal more insight regarding underlying mechanisms.

Bernd Skiera Chaired Professor of Electronic Commerce at Goethe University Frankfurt November 19th Title: Mapping and forecasting market structure evolution Abstract: A market map provides managers with a static snapshot of the competitive positions of a market’s participants (such as brands). Yet, as markets tend to be in flux, knowledge about the trajectories of brands’ competitive positions over time would be more informative than a static snapshot. In contrast to static snapshots, trajectories create a forward-looking perspective on competition, reveal whether positions are converging or diverging and help managers to identify shifts in their market’s structure. Although data for market structure analysis is increasingly available in high frequency, extant mapping methods are predominantly static, and do not reveal brands’ trajectories. Herein, we propose a novel approach for mapping and forecasting the evolution of market structure over time. Our approach is based on “EvoMap”, a novel dynamic mapping method. We combine EvoMap with time-series models, which allows the market analyst to identify and forecast the trajectories of brand’s competitive positions over time. We validate our approach in an extensive simulation study and show that alternative approaches – e.g., repeated applications of extant mapping methods - cannot accurately identify the trajectories of brands’ competitive positions over time. We apply EvoMap to study the trajectories of more than 1,000 firms during 1995 to 2017 and demonstrate how to identify changes in individual firms’ competitive environments, groups of converging / diverging competitors and forecast the identified trajectories into the future.

Ann Majchrzak Associates of USC Chaired Professor of Business Administration, Marshall School of Business November 19th Title: Governing crowds for solving ill-structured problems innovatively Abstract: Current theories of broadcast search suggest that firms constrain search to well-structured problems to which individual actors independently offer solutions. In contrast to this literature, we theorize that the broadcast search process will be able to move beyond such constraints when solvers are presented ill-structured problem definitions, and encouraged to interdependently modify the problem definition by sharing assumptions about the problem among the crowd. We corroborate our theorizing using a unique field study of over a thousand actors responding to one of twenty different broadcast searches with problem definitions naturally differing in how ill-structured the problem, and in which we manipulated the participation architecture to encourage independent vs. interdependent search. Implications for distributed innovation and innovative search theories are discussed.

RESEARCH BULLEŰIN Issue 54

Miriam Wilhelm Associate Professor at the Faculty of Economics and Business, University of Groningen November 25th Title: Adoption of social sustainability practices in global value chains: The role of MNE control strategies and supplier country institutions Abstract: Digital public goods, such as posts on online knowledge communities, are an essential resource for platform companies. By encouraging innovation and promoting social exchange, they are also important for society at large. The recent increase in work-from-home (WFH) arrangements in labor force worldwide, induced by the coronavirus pandemic, poses an open question: Does increased WFH lead to more or fewer contributions to digital public goods by workers? We study users on a popular Chinese question-and-answer platform, and we construct a natural experiment in which workers in Wuhan were forced to work from home while workers outside of Wuhan resumed normal, physical work. We find that, compared to physical work, WFH is associated with 11% more posted answers on the platform. Meanwhile, the relationship between WFH and answer count is more prominent among female users. Finally, we use sentiment analysis to reveal more insight regarding underlying mechanisms. The disaggregation and geographic dispersion of global value chains (GVCs) has created an unprecedented need for MNEs to exert control over the social sustainability behavior of their emerging country suppliers. We theorize in this paper that the effectiveness of MNE control strategies for social sustainability - which can be audit-based or cooperation-based depends on the local institutional context of the supplier. Supplier country institutions exert domain-specific top-down and bottom-up pressures for social sustainability, which shapes suppliers’ attitude and receptiveness towards the type of MNE control mechanism. Using unique primary data from 341 garment and footwear suppliers in ten emerging countries, which supply to Western European or North American multinational enterprises, we show that cooperation-based MNE control is particularly effective for suppliers’ social sustainability adoption when there is isomorphic fit with local bottom-up pressures for social sustainability in the supplier country. Our study extends control strategies in GVCs from economic to legitimacyenhancing outcomes, and demonstrates that practices can be successfully transferred beyond the boundaries of the firm when the means of practice transfer are aligned with the institutional framework in the GVC partner country. Keywords: global value chain; MNE control strategy; social sustainability; policy-practice coupling; supplier country institutions

Irene Consiglio Assistant Professor of Marketing at Nova School of Business and Economics November 25th Title: When and why physical strength increases or decreases persuadability Abstract: We document that it is easier to persuade a person who feels strong (vs. weak), and propose a potential mechanism for this effect. Our predictions rest on the notion that humans have a threat detection system that determines the intensity with which they perceive potential danger. More vulnerable individuals have a heightened perception of potential danger, because underestimating danger puts them at a greater risk of physical injury, as compared to less vulnerable individuals. This threat detection system affects also interpersonal judgments: more vulnerable individuals expect others to have more malicious intentions. Instead, less vulnerable individuals wear a mental body armor that makes them less defensive in their interactions with others. Of note, interpersonal judgements are an important determinant of persuasion: individuals are generally vigilant against manipulative intent, and the greater manipulative intent they perceive in a persuasion agent (e.g., a salesperson), the less they are persuaded. Based on this prior research, we theorize that stronger consumers should be less likely to infer that a persuasion agent has manipulative intentions, and thus should display less resistance to persuasion, as compared to weaker consumers. Consistent with these predictions, our results show that people who feel stronger (vs. weaker) expect salespeople to be less manipulative. They are also more likely to perceive advice as sincere, follow this advice more, and are more persuaded by persuasive messages (e.g., infomercials). Moreover, we uncovered a moderating effect of manipulative intent, such that when manipulative intent is more (vs. less) blatant, stronger people are persuaded less. We discuss the implications of this research in terms of consumer wellbeing. If weaker people are resistant to persuasion, it might be problematic. For instance, patients often get medical advice while in a state of physical weakness. Moreover, strong individuals seem to be malleable with mild persuasion, but resistant to blatant persuasion. Thus, this research may speak to which (fraudulent) persuasion tactics different consumers are likely to succumb.

RESEARCH BULLEŰIN Issue 54

Hakan Özalp Assistant Professor, School of Business and Economics, Knowledge, Information and Innovation at Vrije Universiteit Amsterdam December 3rd Title: How Ericsson sidelined wimax: The dynamics of ecosystem legitimacy and incumbent response to technological competition Abstract: Incumbents rely on their resources and recognition as technology leaders to promote their own technologies against emergent challengers. However, such responses may undermine an incumbent’s legitimacy, because it is seen not to be supporting a cutting-edge technology and to be neglecting the collective interests of ecosystem actors. A longitudinal study of Ericsson’s response to Intel’s rival technology shows how an incumbent may address such tensions by adopting temporally shifting strategies that may appear inconsistent. We theorize that these strategies were adopted because of ebbs and flows in the incumbent’s legitimacy, arising from collective perceptions of how the two competing technologies were progressing. These legitimacy fluctuations require an incumbent to dynamically adapt its responses vis-à-vis the challenger technology through a combination of symbolic and material actions. Authors: Khanagha, S., Ansari, S., Ozalp, H., Rindova, V.

Jeroen Meijerink Assistant Professor of Human Resource Management, University of Twente December 16th Title: Having their cake and eating it too? Online labor platforms, human resource management and gig worker control as a case of institutional complexity Abstract: Previous studies have shown that online labor platforms want to have their cake and eat it too by implementing human resource management (HRM) activities to control gig workers who ought to be autonomous in their work. Our empirical study shows that using HRM activities to control gig workers creates institutional complexity and explores the strategies adopted by platform firms to address this complexity. Based on case studies1 of two meal-delivery platforms in the Netherlands (Uber Eats and Deliveroo), we identify freelance-related HRM activities that create tensions between the market and corporation logics. We show that online labor platforms rely on response strategies that integrate/balance, rather than rule out competing logics, including creating novel forms of HRM outsourcing, HRM devolution, and covert HRM implementation to control gig workers while simultaneously upholding their freelance status. Furthermore, we show that these response strategies are enabled by information technologies and the marketplaces that online labor platforms create, allowing for more experimental and dynamic approaches to HRM than so far theorized. The main implication of these findings is that the HRM activities for gig workers are simultaneously the source of, and the solution to, the institutional complexity associated with HRM for controlling freelance gig workers. Keywords: human resource management, online labor platforms, gig work, freelancer, institutional complexity, institutional logics, response strategies

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