Revista Galega de Economía <p style="text-align: justify;">The <em>Revista Galega de Economía </em>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; RGE 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.</p> <p style="text-align: justify;">The <em>Revista Galega de Economía </em>is indexed in <a href="">SCOPUS</a>, <a href="">Dialnet</a>, <a href="">InDICEs-CSIC</a>, <a href="">IDEAS-RePEc</a>, <a href="">REDALYC</a>,&nbsp;<a title="REDIB" href="" target="_blank" rel="noopener">REDIB</a>, <a href="">DOAJ</a>, <a href=""><span style="font-size: 11.0pt;">ERIH PLUS</span></a> and EconIS, among others. It is also is included in different tools for the analysis of scientific journals such as <a href="">MIAR</a>, <a href="">DICE</a>, <a href="">Latindex</a> or <a href="">CIRC</a>.</p> <p style="text-align: justify;">The digital portal of<em> Revista Galega de Economía </em>is published in Galician, Spanish, and English. The articles published are in Galician, Portuguese, Spanish, and English.<em>&nbsp;</em></p> en-US <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> (Revista Galega de Economía) (USC. Servizo de Publicacións e Intercambio Científico) Wed, 09 Jun 2021 00:44:50 +0200 OJS 60 Impact of Structural Funds for Innovation on the business innovation: analysis through the indicators of the companies participating in the ERDF-Innterconecta programme in Galicia <p>We carried out an evaluation of the impact of the ERDF-Innterconecta programme (developed within the framework of the Technology Fund 2007-2013) on the main indicators of business innovation in Galicia. Among the different lines of action designed, we focused our analysis on the first two rounds of the Galician ERDF-Interconnecta programme belonging to this “Operational Programme for the benefit of business R&amp;D&amp;i”, the implementation period of which covers up to 2015. The proposed analysis tries to identify the repercussion of the participation in this programme based on the main available microeconomic indicators (projects, perceived funds, evolution of Research &amp; Development expenditure, innovation, patents, collaboration networks, invoicing, etc.). This impact is broken down using companies´ productive sectors. The results show an unequal impact depending on the business characteristics and show a significant amount of resources managed by companies located in other territories. These results will also make it possible to formulate recommendations for the future implementation of Research, Development &amp; Innovation policies</p> Diego Sande Veiga, Xavier Vence Deza Copyright (c) 2020 Universidad de Santiago de Compostela Wed, 09 Jun 2021 00:44:49 +0200 Spanish Business Schools paradox and the accreditation system expiry: when the success becomes a risk <p>This paper is an analytical-empirical review of the evolution of Spanish Business Schools and how they have been affected by the accreditation system. This system has made it possible for the Spanish Business Schools to rank among the best (10 of them are in the World top-25 and 4 have been accredited with the triple crown, which is the highest distinction). However, it has also led to the denaturalization of the Business Schools (B-Schools), which have been “devoured” by the Schools of Economics and Business at universities. In addition, the accreditation system has entailed an increase in costs (opportunity, marginal, sunk costs and so on). An explanation of the Spanish B-Schools paradox is offered in the article: the more accreditations achieved,<br>the more difficult it is to maintain them, due to contradictions in the compliance regulation and to the difficulty in updating academic programmes since their success and assimilation into the welfare state economy is a risk for B-Schools and their adaptation to digital economy. Finally, the paper gives some keys to correct the problem detected and thus to adapt B-Schools to the emerging wellbeing economics, a new stage of the digital economy.</p> Antonio Sánchez-Bayón, Estrella Trincado Aznar Copyright (c) 2020 Universidad de Santiago de Compostela Wed, 09 Jun 2021 00:44:49 +0200 Turnaround and corporate decline: Review and recommendations for future research <p>This work conducts a review of research in the field of refloating and business decline from the mid-1970s to the present day. Based on the work of Pierce and Robbins (1993) and Trahms, Ndofor and Sirmon (2013), the main findings made by the previous research are presented along with the fundamental shortcomings in this field. In addition, progress following the review of Trahms et al. (2013) is also shown along with a future perspective for research in this area.</p> Eduardo Curto Rodríguez, Romina García Chas Copyright (c) Wed, 09 Jun 2021 00:44:50 +0200 Effect of public spending on agricultural productivity in Nigeria (1981-2018) <p>This study examines the effect of public spending on agricultural productivity in major agro-ecological regions in Nigeria (1981-2018). Using public finance data from agricultural and the non-agricultural sectors at a national level, agricultural productivity returns were analysed. Public spending on drivers of agricultural growth such as education, farm feeder roads and health care facilities and their effect on agricultural productivity were also examined. Data were analysed using descriptive statistics and three-stage simultaneous equations. Descriptive statistics analysis results indicated that agricultural public spending as a part of total public spending averaged 4.88% between 1981 and 2018 across zones in Nigeria. Less than 25% of this allocation was spent on agricultural developmental/capital project. Elasticity results computed from the 3-stage simultaneous equation showed that the access to moderate farm feeder roads variable was 0.045, the access to education variable was 0.071 and the access to health care facilities (within 15-30 minutes’ walk to health facility) variable was 0.013. These variables were all significant at 1%. Such outcomes suggest that a 1% increase in the funding of education, farm feeder roads and health care facilities will enhance agricultural productivity per capita by 0.043. Hence, the results revealed an estimated benefit-cost-ratio of 4.3:1. Consequently, public expenditure on education, farm feeder roads and health care facilities of 4.3% would enhance agricultural productivity by 1%. However, the assessed marginal consequences and returns vary for four agro-ecological regions. Hence, harmonizing along with quality public spending on access to health care facilities, education and farm feeder roads would enhance agricultural productivity</p> Temidayo Apata Copyright (c) 2021 Universidad de Santiago de Compostela Wed, 09 Jun 2021 00:44:50 +0200 Firm Growth: A review of the empirical literature <p>The objective of this research is to review and unify the empirical literature that identifies the determining factors for firm growth. A list of 165 articles forms the backbone of the present review of the empirical literature on firm growth. Based on this review, we provide a synthesis of numerous determinant factors associated with firm growth. Specifically, we enumerate and detail the determining factors in three blocks: entrepreneur’s idiosyncratic features, firm’s internal factors, and factors external to the firm. The work provides a better understanding of the complex process of growth, shows the shortcomings in empirical research on the growth of the firm and presents directions for future research.&nbsp;</p> Rolando Vaz Copyright (c) 2021 Universidad de Santiago de Compostela Wed, 09 Jun 2021 00:44:50 +0200 Analysis of financial and non-financial information integration models in IBEX 35 listed groups <p>Since 2018, the obligation to prepare the non-financial information statement (NFI) has been revolutionizing the way in which large Spanish companies structure all their corporate information. Our research aims to identify the new financial and non-financial information integration models in the praxis of the groups listed on the IBEX 35. The reports referring to 2018 have been analyzed: accounting or financial in the strict sense, i.e. audited consolidated annual accounts and management reports –including the NFI statement–, and non-financial, i.e. integrated and/or sustainability reports. The results obtained evidence a high level of reporting dispersion. Three basic reporting models and up to seven alternative subcategories have been identified. Other results show the rise of the integrated report to the detriment of the sustainability report, the conversion of these voluntary or non-financial reports into legal or partially legal reports, and the constraints regarding the scope of the NFI statement´s verifiability.</p> Eva Mª Ibáñez Copyright (c) 2021 Universidad de Santiago de Compostela Wed, 09 Jun 2021 00:44:50 +0200 An intra-regional convergence analysis Ourense vs Galicia, 2000-2018: A local public intervention <p><span style="vertical-align: inherit;"><span style="vertical-align: inherit;"><span style="vertical-align: inherit;"><span style="vertical-align: inherit;"><span style="vertical-align: inherit;"><span style="vertical-align: inherit;">This work addresses the issue of intra-regional imbalances “province vs region” and, in particular, the socioeconomic evolution of the province of Ourense within the community of Galicia. analysing the socioeconomic convergence between the two territories. With this objective in mind a representative convergence statistic of the average variation of each provincial variation used has been constructed. A simple and two-dimensional correlation analysis has been carried out to find out the evolution of available income per inhabitant and a panel data model has been used to identify the explanatory variables of income availability. The results reveal that, in the period 2000-2018 the gap in terms of disposable income and production per inhabitant grew, to the detriment of the province of Ourense due to its limited capacity for attracting visitors. This sums up into a need for an integral plan that visualizes the provincial competitive advantages, taking into account that public spending policies are the most effective in this regard. </span></span></span></span></span></span></p> Manuel Octavio del Campo Villares, Eladio Jardón Ferreiro, Francisco Jesús Ferreiro Seoane Copyright (c) 2021 Universidad de Santiago de Compostela Wed, 09 Jun 2021 00:44:50 +0200 Implementing and controlling limits on minor contractual agreements at universities within the Galician University System (SUG) <p>The implementation of Contract Law 9/2017 of 8th November on Public Sector Contracts (LCSP), effective from 9th March 2018, imposed a great change for Spanish universities and, thus, for the three SUG public universities. Subsequently, the General State Budget Law for 2018 allowed a certain flexibility, easing this limit control for public administrations carrying out research activities. This article aims to show the different decisions taken by the three SUG public universities, analyze their impact on minor contracts, and compare them to those of the rest of the CRUE universities.</p> José María Martín-Moreno, Rodrigo Cerviño Rodríguez Copyright (c) Wed, 09 Jun 2021 00:44:50 +0200