Revista Galega de Economía <p><audio class="audio-for-speech"></audio></p> <div class="translate-tooltip-mtz translator-hidden"> <div class="header"> <div class="header-controls"><span style="text-align: justify;">The </span><em style="text-align: justify;">Revista Galega de Economía/Galician Journal of Economics</em><span style="text-align: justify;"> (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.&nbsp; The RGE/GJE is an international peer-reviewed open access journal.&nbsp; 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.</span></div> </div> </div> <p style="text-align: justify;">The RGE/GJE has the quality imprint of the FECYT and is indexed in SCOPUS, ESCI, Dialnet, InDICEs-CSIC, IDEAS-RePEc, REDALYC, REDIB, DOAJ, and ERIH PLUS, among others. It is also included in different tools for the analysis of scientific journals such as MIAR, Latindex or CIRC.&nbsp;</p> <p style="text-align: justify;">The digital portal of<em> RGE/GJE </em>is published in Galician, Portuguese, Spanish, and English. The articles published are in Galician, Portuguese, Spanish, and English.<em>&nbsp;</em></p> Universidade de Santiago de Compostela. Servizo de Publicacións e Intercambio Científico en-US Revista Galega de Economía 1132-2799 <p>&nbsp;</p> <p>From 2019 papers and articles published in this journal are subject to the following terms:&nbsp;</p> <p>1. The University of Santiago de Compostela retains the patrimonial rights (copyright) of articles published, and encourages and enables reuse of the same under the license specified in point 2.</p> <p>2. Articles are published in the online edition of the journal under a <a title="License Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0)" href="" target="_self">License Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0)</a>. All papers can be copied, used, disseminated, transmitted and publicly displayed, provided acknowledgment of authorship, the URL, and the journal are mentioned and that the materials are not used for commercial purposes.</p> <p>3. All authors agree with the license used by the journal with the conditions of self-archiving and open access policy.</p> <p>4. Authors are allowed to disseminate electronically (e.g. in institutional repositories or on their own websites) the published version of their manuscripts, as these favours circulation and early diffusion and thus possibly increases the citations and scope among the academic community (See <a title="The Effect of Open Access" href="" target="_self">The Effect of Open Access</a>).</p> <p>Before this year, when publishing in Revista Galega de Economía, the author cedes all the exploitation rights of his/her article to the University of Santiago de Compostela which, under the conditions and within the restrictions stated in the legislation on intellectual property, is the copyright holder. The fact of its holding the copyright grants the University of Santiago de Compostela&nbsp; the exclusive right, worldwide, to:</p> <ul> <li class="show"> <p>publish the article’s final version in the journal, and distribute it and/or communicate it publicly, both in the journal itself and in other related media, in print format, digital format or any other format that can be created in the future;</p> </li> <li class="show"> <p>translate or write abstracts of the article, and distribute them and/or communicate them publicly, and authorize a third party for the same right or transfer the same right to a third party;</p> </li> <li class="show"> <p>deposit copies or references of the article in file-stores on line, both in platforms belonging to the University of Santiago de Compostela and in platforms belonging to a third party which has received the corresponding authorization by the University of Santiago de Compostela.</p> </li> </ul> Are there differences in the perception of climate change among farmers? Empirical evidence in the Mediterranean basin <p>The agricultural sector in Mediterranean latitudes is one of the most affected by climate change, mainly characterized by the incidence of prolonged droughts that jeopardize crop productivity. The main objective of this study is to analyze the perceptions of climate change among irrigation farmers located in the Mediterranean basin. Through hierarchical cluster analysis, three typologies of farmers were identified, revealing differences in three sets of factors: (1) awareness of adverse climatic events that have caused damages to their crops in recent years, (2) sociodemographic characteristics of the farmers, and (3) attributes of their farms. The results should be taken into consideration to enhance the understanding of farmers' perceptions when formulating government policies and potential adaptations related to climate change and agriculture.</p> Julia M. Núñez Tabales Francisco José Rey-Carmona Copyright (c) 2024 Universidad de Santiago de Compostela 2024-03-14 2024-03-14 33 1 1 22 10.15304/rge.33.1.9200 Time Banking and Social Capital Creation: a Transaction Data Analysis This article uses transaction data from three time banks located in Barcelona to analyze their potential to generate bonding and bridging social capital for their members. Regarding bonding social capital, the findings are in line with the related literature in terms of the average number of trading partners and the ego-network density. However, reciprocity is a more frequent form of behavior in our data than in other time banks from other countries. Concerning bridging social capital and considering different age groups, the results show slight evidence of homophilic behavior, although intergenerational transactions are also present, being more frequent between more similar age groups. Finally, we explore the influence of age on the time it takes for members to engage in transactions, which could somehow be related to their potential motivations behind joining a time bank. María Ángeles Carnero Blanca Martínez Rocío Sánchez-Mangas Copyright (c) 2024 Universidad de Santiago de Compostela 2024-04-25 2024-04-25 33 1 1 20 10.15304/rge.33.1.9263 The Influence of Inclusive Leadership on the Well-Being of Employees <p>Among the different managerial styles of leadership, inclusive leadership has a particular relevance because, through its basic characteristics of openness, accessibility and availability of managers, employees can see their esteem and feeling of belonging to the group improve. This improvement can ultimately increase the degree of well-being at work. This research has been carried out through a survey of 193 working people about their perception of the inclusive leadership style and their level of well-being at work. The PLS-SEM methodology has been used for the statistical treatment of the data. The main conclusion obtained in this research is that an inclusive leadership style has a positive effect on people's well-being at work. Inclusive leadership improves job satisfaction, the feeling of being respected and emotional accessibility. These conclusions and findings support the idea that it is necessary to train managers in skills linked to labor inclusion.</p> Ramón Rueda-López Jaime Aja-Valle Lucía García-García María J. Vázquez-García Copyright (c) 2024 Universidad de Santiago de Compostela 2024-03-21 2024-03-21 33 1 1 25 10.15304/rge.33.1.9412 The Impact of the Education Sector in the Norte Chico and Patagonia Macroterritories <p>This article contrasts whether the sectors with a GDP close to the average contribute more to the economic system through their employment multipliers and/or dispersion effects than those with a higher GDP. To achieve this, an 11-year horizon (2008-2018) and the 11 main centers of Chile's macro territories [Norte Chico (6) and Patagonia (5)] are used as a reference. The input-output matrices are used as source of information from which the variables GDP, employment multiplier and dispersion coefficients are obtained, the latter understood as those that allow quantifying the scope of the repercussions of an economic activity, by means of its direct and/or indirect effects. The results allow us to conclude that economic activities with a GDP close to the average, such as that of the education sector, show diffused effects that support the idea of facilitating development through changes in their production versus others that, with high GDPs, show concentrated effects that therefore limit their contribution in terms of interaction. These results will contribute to the establishment of economic development policies according to the particularities of each territory.</p> Sergio Soza-Amigo Lorena Paredes Copyright (c) 2024 Universidad de Santiago de Compostela 2024-03-01 2024-03-01 33 1 1 22 10.15304/rge.33.1.9261 Technological innovation clusters and shared value creation: an explanatory analysis <p>The effects of companies on society and the practices of Corporate Social Responsibility have been studied in numerous research studies. Questioning the traditional model let Porter and Kramer to develop the concept of Creating Shared Value, an approach where companies consider the value of society and the environment in their business models. We take the edge of the clusters to determine how the grouped companies understand and create shared value, identifying its antecedents and consequences. Using the multiple case study technique in a technology cluster focused on driving innovative ideas and new business development, we were able to identify that the cluster becomes a propitious scenario to create shared value, since the participants benefit from resources and skills that allow them to grow in their businesses, promoting competitiveness and innovation and contributing to the economic, social and environmental growth of stakeholders.</p> Jonathan Cuevas Lizama Marcelo Royo-Vela Copyright (c) 2024 Universidad de Santiago de Compostela 2024-03-13 2024-03-13 33 1 1 19 10.15304/rge.33.1.8933 Intangible assets and their effects on business performance: an analysis for Colombian companies <p>Intangible assets (IAs) are fundamental for the creation of firm value. However, the literature is inconclusive regarding the relationship between IAs and profitability. This paper uses financial data from Colombian firms from 2005 to 2015 to determine if this relationship exists. Thirty dynamic panel models have been used to see whether IAs are related to Return on Equity, Return on Assets, Earnings Before Interest and Taxes, Earnings Before Interest, Taxes, Depreciation, and Amortization, Gross margin, and Net margin. The results, despite a limited sample size and missing variables, are related to the literature in that they signal the negative relationship between IAs and profitability. Thus, the capitalized value of IAs seems to negatively affect Colombian firms' performance in the short and long term.</p> Alberto Méndez-Morales Camilo Anzola-Morales Liliana Elizabeth Ruiz-Acosta David Andrés Camargo-Mayorga Copyright (c) 2024 Universidad de Santiago de Compostela 2024-02-20 2024-02-20 33 1 1 28 10.15304/rge.33.1.9138