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While the literature studying the effect of banking crises on real output growth rates has found short-lived effects, recent work has focused on the level effects showing that banking crises can reduce output below its trend for several years. This paper aims to investigate the effect of banking crises on investment finding a prolonged negative effect.

The authors test to see whether investment declines after a banking crisis and, if it does, for how long and by how much. The paper uses data for 148 countries from 1963 to 2007. Econometrically, the authors test how banking crises episodes affect investment in future years after controlling for other potential determinants.

The authors find that the investment to GDP ratio is on average about 1.7 percent lower for about eight years following a banking crisis. These results are robust after controlling for credit availability, institutional characteristics, and a host of other factors. Furthermore, the authors find that the size and duration of this adverse effect on investment varies according to the level of financial development of a country. The largest and longer-lasting decrease in investment is found in countries in a middle region of financial development, where finance plays its most important role according to theory.

The authors contribute by finding that banking crisis can have long-term effects on investment of up to nine years. Further, the authors contribute by finding that the level of development of the country's financial markets affects the duration of this decrease in investment.

The purpose of this paper is to investigate the heterogeneous labor market responses of indigenous and non-indigenous women to intimate partner violence (IPV) using information from the 2003 Demographic and Health Survey for Bolivia.

This analysis employs an instrumental variable with a Heckman correction approach to account for possible endogeneity problems between IPV and job exit decisions, and the self-selection of women into the labor force. It also analyses the sample across different population characteristics to search for heterogeneity and potential explanations to the observed effects.

The results show that the effect of IPV on women’s job exits is stronger among non-indigenous women compared to their indigenous counterparts. These differences could be tied to the cultural differences between these two segments of the population. These results are robust using different methodologies and specifications.

To the best of the authors’ knowledge, this paper is the first one to compare the relationship between domestic violence and labor market outcomes in a multi-ethnic developing country, such as Bolivia.

This chapter's objective is to analyze, with a long-term perspective, the formation of an entrepreneurial culture in Mexico's Midwest, specifically in the state of Jalisco, in terms of the geographical environment, the culture in general, and the local economic institutions that, when viewed interconnectedly, will globally impact the practices, representations, and imaginaries of persons who at a given time have made the decision to undertake profitable economic activities – individual and collective entrepreneurs, in other words. To this end, we have divided the text into two sections. In the first, we conceptually review what we understand as entrepreneurial culture; in principle, we deconstruct its terms and then conjugate them from a social science perspective. We also emphasize the importance of studying the milieu as a scenario of action with different arenas, where a variety of agents have been involved. In the second part, without sidelining conceptual analysis, we present concrete empirical evidence of the role played by culture and local economic institutions that shape entrepreneurial culture in Midwestern Mexico over time, specifically in Jalisco. The text ends with some final considerations.

The purpose of this paper is to visualize the inter‐university and international collaboration networks generated by Spanish universities based on the co‐authorship of scientific articles.

The approach takes the form of formulation based on a bibliometric analysis of Spanish university production from 2000 to 2004 as contained in Web of Science databases, applying social network visualization techniques. The co‐authorship data used were extracted with the total counting method from a database containing 100,710 papers.

Spanish inter‐university collaboration patterns appear to be influenced by both geographic proximity and administrative and political affiliation. Inter‐regional co‐authorship encompasses regional sub‐networks whose spatial scope conforms rather closely with Spanish geopolitical divisions. Papers involving international collaboration are written primarily with European Union and North and Latin American researchers. Greater visibility is attained with international co‐authorship than with any other type of collaboration studied.

Impact was measured in terms of journals rather than each individual paper. The co‐authorship data were taken from the Web of Knowledge and were not compared with data from other databases.

The data obtained in the paper may provide guidance for public policy makers seeking to enhance and intensify the internationalization of scientific production in Spanish universities.

The Spanish university system is in the midst of profound structural change. This is the first paper to describe Spanish university collaboration networks using social network visualization techniques, covering an area not previously addressed.

The purpose of this paper is to compare different approaches to the evaluation of the economic performance of wineries.

This paper simultaneously applies traditional profitability and productivity measures and a non‐parametric technique to estimate efficiency, and compares the results obtained. A cluster analysis has been applied to identify different groups of firms. The empirical application is carried out on a sample of 1,222 Spanish wineries in 2007.

The results reveal important differences depending on the methodology employed. Overall, none of the methodologies can be said to be better than the rest.

This paper has only considered the economic performance of wineries and its findings are not substitutes for other subjective measures directed at the assessment of aspects such as the quality of the wines produced.

Managers should be aware of their own performance in order to guarantee the competitiveness and future investments of their wineries.

For the first time, this paper analyses the economic performance of Spanish wineries, simultaneously using different approaches widely employed in the management literature.

The learning objectives include understanding the unique environment and challenges that business leaders face when developing new businesses in emerging markets, evaluating the firm’s internal and external environments, analyzing sales data and distribution channels and formulating new strategies.

Dos Hemisferios Winery, founded in 1999 as a hobby, grew into a family business. The Ecuadorian winery expanded production after winning an international award for its Paradoja blend in 2009. With a $10m investment in a new plant in 2017, the winery capacity increased to 500,000 bottles. President Robert Wright recognized the need to increase sales, aiming to sell at least 425,000 bottles annually at an average price of $8 per bottle to break even and become profitable in 2024. To tap into Ecuador’s top market in Quito, representing 46% of sales, Dos Hemisferios aimed to boost monthly revenues to $50,000 by addressing challenges such as low awareness and consumer reluctance. Initiatives under consideration included partnerships and events, winery tours, enhanced social media, new products and improved sales channel distribution.

The Dos Hemisferios case is appropriate for upper-division undergraduate and graduate students in global business and strategy courses. The learning objectives for the case study include: understanding the unique environment and challenges business leaders face when developing new businesses in emerging markets; evaluating the firm’s internal and external environments to determine its strengths, weaknesses, opportunities and threats; analyzing sales data and distribution channels for the business; and providing students with the opportunity to formulate strategies to gain more share of the Ecuadorian wine market.

Teaching notes are available for educators only.

CSS 11: Strategy.

Avant‐propos sous les auspices de l'Institut international de Coopération intellectuelle, paraissait en 1934 le t. I, consacré à l'Europe, du Guide international des Archives. Le questionnaire envoyé à tous les États européens comportait sous les points 4 et 6 les questions suivantes: ‘Existe‐t‐il un guide général pour les diverses catégories d'Archives ou des guides particuliers pour l'une ou l'autre d'entre elles?’ et ‘Existe‐t‐il des catalogues imprimés, des publications tant officielles que privées, susceptibles de constituer un instrument complet de référence pour tout ou partie importante des fonds d'archives?’ Les réponses des divers pays à ces questions, malgré leur caractère très inégal, ont fait du Guide international un bon instrument d'information générale sur les Archives. Malheureusement les circonstances ont empêché la publication du volume consacré aux États non européens, tandis que le temps qui s'écoulait tendait à rendre périmés les renseignements fournis sur les Archives européennes.

This paper seeks to analyze the family firm's capital structure decisions, focusing on the speed of adjustment (SOA) as well as on the effect of distance from the target capital structure on the SOA towards target short-term and long-term debt ratios in unlisted small and medium-sized family firms.

Methodologically, we use dynamic panel data estimators to estimate the effects of distance on the speeds of adjustment towards those targets. Data for the period 2006–2014 were collected for two research sub-samples: one sub-sample with 398 family firms; the other sub-sample contains 217 non-family firms.

The results show that the deviation from the target debt ratios impacts negatively on the speeds of adjustment towards target short-term and long-term debt ratios in unlisted family firms. These results suggest that family firms, deviating from target debt ratios, face deviation costs, i.e. insolvency costs, inferior to the adjustment costs, i.e. transaction costs. Therefore, family firms stay away from the target debt ratios for a long time than do non-family firms.

The research sample comprises a low number of family firms, therefore for future research we suggest increasing the size of the sample of family firms to get a deeper understanding of family firms' SOA towards capital structure. Additionally, we suggest the analysis of other potential determinants of the speed of adjustment towards target capital structure.

The results obtained suggest that the distance from the target short-term and long-term debt ratios can be avoided if these firms do not depend almost exclusively on internal finance to adjust towards target capital structure. Moreover, for policymakers, we suggest the creation/promotion of alternative external finance sources, allowing reduced transaction costs that contribute to a faster adjustment of small family firms towards target capital structure.

The most previous research focusing on capital structure decisions have focused on listed family firms. To fill this gap, this study examines the speed of adjustment towards target debt ratios in the context of unlisted family firms. Moreover, transaction costs are a function of debt maturity, therefore this study examines separately the speeds of adjustment towards target short-term and long-term debt ratios. This paper shows that the adjustment costs (i.e. transaction costs) could hold back family firms from rebalancing its capital structure.