Artículos científicos

Un proyecto en el que coexiste la investigación, la divulgación y la participación en torno el mundo del emprendimiento.

2023

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Small firms play a key role in the economy and their management is influenced by different factors, such as having an adequate level of financial literacy. Using data from the Survey of Small Enterprises’ Financial Literacy, this paper analyses whether the size, sector and exporting nature of firms relate to the level of financial literacy of their owners/managers. Evidence shows a positive relationship between firm size and the financial literacy of their owners.

2023

Fernández-López, S., Álvarez-Espiño, M., & Rey-Ares, L. (2023). La alfabetización financiera y las características sociodemográficas del emprendedor: Un análisis de las pequeñas empresas españolas. The Journal of Globalization, Competitiveness, and Governability,17(1), 49-69.

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Small enterprises make up practically the entire Spanish and international business tissue. Although these agents are essential for employ creation, they are also the ones that suffer the most from the instability of the economic context, partly due to the moderate financial literacy of their managers. Using a sample of 1,120 small enterprises obtained during 2021, this paper diagnoses the level of financial literacy of their owners/managers based on their sociodemographic characteristics. The results show those financial knowledge, attitudes and behaviors that can be strengthened in business people. Accordingly, this research provides some recommendations to improve business financial literacy.

2022

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It has been suggested that financial literacy plays a crucial role in the understanding of the overall performance of small and medium-sized enterprises (SMEs). Nonetheless, its impact remains underexplored, and the few existing findings are fragmented. This study conducts a systematic literature review focused on the antecedents and consequences of financial literacy in SMEs. The findings show that some educational, cultural, and specific contextual factors are antecedents of financial literacy; in turn, financial literacy influences the financial attitudes, financial behaviors, organizational capabilities, and performance of SMEs. Further research should analyze the uncovered lines of study suggested in our research agenda to consolidate the conceptualization of financial literacy in the context of SMEs, overcome the limitations of the current methodology, extend the current evidence about the antecedents and consequences of financial literacy in SMEs and analyze these relationships from behavioral economics and decision-making perspectives.

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2021

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We respond to recent calls for a better understanding of the effects of management control systems (MCS) in small start-ups. Using a sample of business-incubated start-ups, we examine the performance effects of the alignment between MCS and innovation strategies. Regression analyses show higher performance when financial (non-financial) MCS are associated with an emphasis on exploratory (exploitative) innovation strategies. Overall, this study contributes to understanding the contingent effects of MCS and innovation strategies in business-incubated start-ups, as well as the consequences for their outcome and survival.

2021

Jardon, C.M., & Martinez-Cobas, X. (2021). Trust and opportunism in the competitiveness of small-scale timber businesses based on innovation and marketing capabilities. Business Strategy and Development, 5(1), 69-79

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Subsistence markets are characterized by being composed of economic agents with low levels of education, marketing and management skills, and income. There are common in developing countries. Promote entrepreneurship in these markets is a strategy to reduce poverty, contributing to sustainable development goals. Small-scale timber businesses (SSTB) in Misiones (Argentine) work in these markets. Innovation and marketing capabilities in SSTB are important factors in the growth of such businesses. Internal trust is a potential factor that could increase the effect of these capabilities, possibly limited by opportunism. This paper analyses marketing and innovation capabilities in SSTB, examining the possible moderating effect of trust (or opportunism) in the process of generating performance from these capabilities, using partial least squares with data of timber businesses in Misiones (Argentine). The findings indicate that SSTB present innovation and marketing capabilities that generate competitiveness, but the interactive influence of trust on the impact of these capabilities on performance is either neglected or negative, suggesting certain opportunism.

2020

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Small-scale forestry-based enterprising communities are particularly associated with their territory and, therefore, are very conditioned by the local culture. This paper aims to explore the relationship between culture and competitiveness in small-scale Latin-American forestry-based enterprising communities.

2018

Malagueño, R., Lopez-Valeiras, E., Gomez-Conde, J. (2018). Balanced Scorecard in SMEs: effects on innovation and financial performance. Small Business Economics.

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Empirical research on the consequences of the use of the balanced scorecard (BSC) has mostly been conducted in large firms. Previous findings are not easily applied to the small business literature, and assumptions about the benefits of BSC for small- and medium-sized enterprises (SMEs) are not based on quantitative empirical evidence. We investigated the effects of SME’s use of BSC in terms of financial performance and innovation outcomes. Our arguments are based on the efficiency gains and potential flexibility losses associated with formalizing managerial practices in SMEs. We propose that the developmental stage of the firm may influence this trade-off. Based on a survey of 201 SMEs in Spain, we found that firms using BSC for feedforward control obtained better financial performance and presented higher levels of exploitative innovation. We also found that the positive effect of BSC on perceived and attained financial performance is stronger in more established SMEs.

2018

Golgeci, I., Malagueño, R., & Fearne, A. (2021), Unlocking the link between relationship duration and product failure in retail channels: the role of market orientation and brand diffusion. Industrial Marketing Management.

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Entrepreneurs operating in the retail sector must recognise the critical importance of understanding key performance metrics. This understanding is not merely a matter of strategic advantage; it is a lifeline that prevents their products from being delisted by major retailers. As revealed by our research, the antecedents of product de-listing in retail channels go beyond just consumer perspectives. Drawing from insights in buyer-supplier relationships, brand management, and market orientation, this study uncovers the intricate dynamics at play. Financial literacy in comprehending metrics associated with product, stores and retail channels is vital. It allows entrepreneurs to leverage the duration of their relationships with retailers effectively. In essence, it becomes a strategic tool that reduces the risk of delisting. This research underscores the need for entrepreneurs to not only master their products but also the financial dimensions of their brand’s reach within the retail environment. In today’s competitive marketplace, literacy in metrics is the bridge that connects business sustainability with success.