The Revista Galega de Economía/Galician Journal of Economics (RGE/GJE) is published twice a year. It was founded in 1992 and it is promoted by the Faculty of Economics and Business Administration of the University of Santiago de Compostela. Its aim is to promote academic research by publishing original articles that meet the highest analytical standards and provide new ideas that contribute to and disseminate economic and business knowledge.  The RGE/GJE is an international peer-reviewed open access journal.  The articles published are related to specialities in the fields of economics and business (marketing and market research, applied economics, financial economics and accounting, economics, sociology and agricultural policy, fundamentals of economic analysis , economic history and institutions, business organization and quantitative economics); it is also open to other fields as long as it contributes significantly to addressing problems of economics and business management. The target audience is made up of academics, researchers, professionals, business executives and public decision-makers.

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The digital portal of RGE/GJE is published in Galician, Spanish, and English. The articles published are in Galician, Portuguese, Spanish, and English. 

Call for papers. Entrepreneurship in the age of the digital economy


Dear colleagues,

The growth of digital technologies in the economy has created new opportunities for entrepreneurs. The digital world environment supported by technological devices (e.g. mobile computing) and social media platforms (e.g. Facebook, Instagram) have opened up new avenues to create new digital business models and media channels. Multinational companies but also small firms are doing everything or the main part of their business on the web (e.g. Google, Amazon, Facebook).

The unique characteristics of digital technologies made many tools available to entrepreneurs that could be used to innovate and start new ventures. For instance, open innovation and crowdsourcing facilitate co-creation and customer feedback on the development of new products, services, websites or apps. Similarly, crowdfunding platforms (e.g. Kickstarter, Indiegogo, Go Fund Me) made funding a social or business project more simply and fast. Because of the internet, new digital business models (e.g. freemium, subscription, on-demand, affiliate, drop shipping, consulting, advertising, blogging, digital media) exist. Further, business models (features and value of offerings) would continue to evolve even after they have been introduced to the market.

Digital entrepreneurship is the practice of pursuing new ventures opportunities presented by new media on Internet technologies. Therefore, entrepreneurs in a digital economy must be aware of market opportunities for developing new ideas and business models and communicate their value propositions to potential customers and investors. In this context, a question that deserves to be answered is: how entrepreneurs are dealing with an increasingly digital world. To shed light on this topic, we would like to invite contributions to a special thematic section of the Revista Galega de Economia/Galician Journal of Economics dedicated to Entrepreneurship in the age of the digital economy.

Potential topics include, but are not limited to:

  • Digital disruptive business models
  • Digital entrepreneurs and innovation ecosystems
  • Online startups
  • Collaborative digital economy
  • Digital fundraising (Crowdfunding)
  • Exploring opportunities in virtual markets
  • Internet-enable small and medium enterprises (SMEs)
  • Female digital entrepreneurship
  • Social digital entrepreneurship
  • Entrepreneurial orientation and digital technologies
  • Digital open innovation (Crowdsourcing)
  • E-entrepreneurship, e-business, e-commerce
  • Digital marketing for entrepreneurship
  • Digital ecosystems for entrepreneurship
  • Competitive advantage in digital businesses
  • Market oriented digital entrepreneurs

Deadline for manuscript submissions

Original research is welcome for publication in this special thematic section of this issue. All submissions will undergo anonymous review to guarantee high scientific quality and relevance to the subject. The special thematic section of this issue will be open for submission from 1st of March to 30th September 2022.

We look forward to your submission for consideration for publication in this special thematic section of this issue. Papers will be sent to anonymous reviewers, which will evaluate each submitted paper for acceptability for publication.

Guest Editors:

  • Susana Bernardino (, Politécnico do Porto, Portugal),
  • Orlando Rua (, Politécnico do Porto, Portugal)
  • José de Freitas Santos (, Politécnico do Porto, Portugal)
More Announcements...

The Effect of Storytelling Associated with COVID-19 on Engagement

  • Anabela Ribeiro
  • Maria Antónia Rodrigues
  • Patrícia Lemos
Published 30-11-2022

The main objective of this investigation is to understand how the posts in form of stories published by brands associated with the COVID-19 pandemic affected engagement with their consumers. Regarding the stories, plot, characters and verisimilitude have been evaluated. With regard to consumer engagement (CE), affective, emotional and cognitive involvement have been assessed. This study uses a qualitative methodology with a netnographic approach that takes into account the comments of the advertisements published on two social networks, Facebook and Instagram, by nine Portuguese brands. The results of this research reveal that in order for the stories associated with COVID-19 to have a greater level of influence on the customer, they must use their elements as a whole, to encourage positive consumer engagement.

How zombie firms affect healthy firms: The case of Portuguese trade sector

  • Armando da Silva
  • Ana Gonçalves
Published 14-11-2022

Zombie companies can be classified as being nonprofitable, having low productivity and being ten years old or over; these businesses continue to exist due to the support of banks and governments. This paper aims to understand the impact of these types of firms on the investment, employment growth and labour productivity of healthy companies from the wholesale and retail trade and the hospitality sector during the period 2011-2018. The data obtained indicate that the prevalence of zombie companies in Portugal (in the sectors under study) is higher in periods of economic crisis and that most of them are old and large companies, especially in the hotel industry sector. By using panel data models with fixed effects, our investigation concludes that zombie firms negatively affect how healthy companies are run, because they reduce the latter’s investment expenditure and workforce productivity.

The use of transfer entropy to analyse the comovements of European Union stock markets: a dynamical analysis in times of crises

  • Paulo Ferreira
  • Dora Almeida
  • Andreia Dionísio
  • Derick Quintino
  • Faheem Aslam
Published 24-11-2022

Understanding the linkages among stock markets holds great importance for investors, policymakers and portfolio managers. When considering the integration of international stock markets and given they are complex systems, it is important to understand how they are related and how they influence each other. Studying data from 25 European Union stock market indices, this piece of research aims to evaluate the dynamics of influence among them. In terms of method, a non-linear approach has been applied, based on transfer entropy with static and dynamic analysis. As the main finding, a strongly influential relationship between some indices should be highlighted. The static analysis allows us to infer that central and western European Union countries are the main influencers, while the dynamic analysis leads us to the conclusion that the relationships between the stock markets have changed over time, revealing their dynamism. The results obtained have several implications. For instance, for investors and portfolio managers, the information about comovements is relevant for diversification purposes and for their decisions on where to make their investments, build portfolio strategies and manage risks; however, for policymakers, the constant monitoring of stock markets may detect increases in the connection between markets, which could be understood as signs of instability.

The week-of-the-year effect and the Adaptive Markets Hypothesis: Evidence from a new database

  • Júlio Lobão
  • Ana Costa
Published 21-11-2022

In this paper, for the first time, we study the calendar anomaly called “the week-of-the-year effect” in the Portuguese stock market. The week-of-the year effect was originally identified by Levy and Yagil (2012) and refers to the occurrence of significantly different market returns during certain weeks of the year. The sample used was built from a new historical database covering about 120 years of the Portuguese stock market. It was found that the first and last weeks of the year generated significantly higher returns than the other weeks of the year. Furthermore, a subsample analysis reveals that the week-of-the year effect has evolved over time. In general, our results suggest that the Adaptive Markets Hypothesis provides a better explanation for the dynamics of the Portuguese stock market.

Acknowledgement of reviewers for 2022

Vol 31 No 2 (2022)

Special Issue. Euroregions in Perspective: Old issues and new challenges for cooperation

Published: 2022-09-23

Table of contents

Euroregions in Perspective: Old Issues and New Challenges for Cooperation

  • Óscar Rodil-Marzábal
  • María del Carmen Sánchez-Carreira
  • Paulo Jorge Reis Mourão
  • Marta Gancarczyk
Published: 19-09-2022
Pages 1-6

«Euroregions»: Cooperation, cohesion and resilience

  • Cristina García Nicolás
Published: 23-09-2022
Pages 1-21

Value chain analysis in cross-border integration. The agri-food chain value in the shared Minho area

  • Carlos M. Fernández-Jardón Fernández
  • Xavier Martinez Cobas
Published: 23-09-2022
Pages 1-21
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