IE University

About: IE University is a education organization based out in Segovia, Castilla y León, Spain. It is known for research contribution in the topics: Corporate governance & Supply chain. The organization has 527 authors who have published 1709 publications receiving 64682 citations.

The Rise and Fall of the European New Markets: On the Short and Long-run Performance of High-tech Initial Public Offerings

Abstract: This paper studies the short- and long-run share price performance of firms that have gone public on the Euro New Markets (EuroNMs) since their foundation in 1996/97. The initial and long-run returns are remarkable in four ways. First, underpricing is on average 2-3 times higher than that on the main markets. Second, the proportion of IPOs with negative initial returns is much higher. Third, the long-run buy-and-hold returns and the cumulative abnormal returns are strongly negative and even substantially more negative than longterm returns on the main markets. Fourth, even across EuroNMs, we find large differences in short- and long-run performance. We show that the performance discrepancies can largely be explained by differences in firm and industry characteristics between the various countries involved.

How Long Does It Take to Get to the Learning Curve

Abstract: The learning curve describes learning from experience, even in its earliest phases, as an iterative process in which the ratio of positive to negative outcomes rises sharply with experience before ...

Unpacking the emergence of born global founders: A careers perspective

Abstract: New ventures that internationalize aggressively from or near founding have been of continued interest in international entrepreneurship. A rich literature now exists in which researchers make numer...

Hydraulic properties of European elms: xylem safety-efficiency tradeoff and species distribution in the Iberian Peninsula

Abstract: Ulmus minor and U. glabra show a trade-off between safety and efficiency in water transport, and U. laevis shows adaptations to waterlogged environments. Three native elm species grow in Europe: Ulmus minor Mill., U. glabra Huds. and U. laevis Pall., and within the Iberian Peninsula their habitats mainly differ in water availability. We evaluated firstly whether vulnerability to xylem embolism caused by water-stress has been a determinant factor affecting their distribution; secondly, if their xylem anatomy differs due to water availability dissimilarities; and thirdly, if these species present a trade-off between water transport safety and efficiency. Plants of the three species were grown in a common-garden in Madrid, Central Spain. The centrifuge method was used for constructing the vulnerability curves, and anatomical measurements were carried out with an optical microscope. We found clear differences in conductivity and cavitation vulnerability between the three species. Although all three elms were highly vulnerable to cavitation, U. minor was significantly more resistant to water stress cavitation. This species reached 50 % loss in conductivity at −1.1 MPa, compared to U. glabra that did so at −0.5 MPa, and U. laevis at −0.4 MPa. Maximum xylem specific conductivity and maximum leaf specific conductivity were two to three times higher in U. glabra when compared to U. minor. A clear trade-off between safety against losses of conductivity and water transport efficiency was observed considering both U. minor and U. glabra samples. Ulmus minor’s hydraulic configuration was better adapted to overcome drought episodes. The expected aridification of the Iberian Peninsula could compromise Ulmus populations due to their high vulnerability to drought stress.

What Does it Take to Sustain a News Habit? The Role of Civic Duty Norms and a Connection to a "News Community" Among News Avoiders in the UK and Spain

Abstract: Why do some people maintain a news habit while others avoid news altogether? To explore that question, we put findings from an interview-based study of news avoiders in the UK and Spain into dialogue with past research on factors found to shape news consumption. We found that news avoiders saw news as having limited informational benefits and high costs in terms of time, emotional energy, and mental effort. They also did not see consuming news as a civic duty to be pursued despite the costs, nor did they have strong ties to communities that highly valued news consumption. This meant they had few social incentives to return to news habitually and that connections between distant-seeming topics in the news and immediate concerns were rarely reinforced. We conclude that group-level social factors play an understudied but important role in shaping news avoidance.