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.

Regret Theory and Risk Attitudes

Abstract: We examine risk attitudes under regret theory and derive analytical expressions for two components - the resolution and regret premiums - of the risk premium under regret theory. We posit that regret-averse decision makers are risk seeking (resp., risk averse) for low (resp., high) probabilities of gains and that feedback concerning the forgone option reinforces risk attitudes. We test these hypotheses experimentally and estimate empirically both the resolution premium and the regret premium. Our results confirm the predominance of regret aversion but not the risk attitudes predicted by regret theory; they also clarify how feedback affects attitudes toward both risk and regret.

International co‐operation of Ibero‐American countries in business administration and economics research: Presence in high‐impact journals

Abstract: Purpose – The purpose of this article is to analyse patterns of international co‐operation in economics and management research between Ibero‐American countries and between these countries and the USA and EuropeDesign/methodology/approach – Taking co‐publications as an indicator, the analysis concentrates on articles published in the list of high‐impact and high‐profile journals used by The Financial Times to draw up its rankings of business schoolsFindings – The results obtained show that: the number of articles published by Ibero‐American countries in high‐impact journals is still proportionally small but that an upward trend seems to have been developing in recent years; participation in international co‐operation networks allows researchers from Ibero‐American countries, particularly those countries with less scientific development, to carry out research into relevant topics and to attain the degree of excellence required to publish in the most internationally prestigious journals; and contrary to t

Liquidity coinsurance and bank capital

Abstract: Banks can deal with their liquidity risk by holding liquid assets (self-insurance), by participating in interbank markets (coinsurance), or by using flexible financing instruments, such as bank capital (risk sharing). We use a simple model to show that undiversifiable liquidity risk, that is, the liquidity risk that banks are unable to coinsure on interbank markets, represents an important risk factor affecting their capital structures. Banks facing higher undiversifiable liquidity risk hold more capital. We posit that, empirically, banks that are more exposed to undiversifiable liquidity risk are less active on interbank markets. Therefore, we test for the existence of a negative relationship between bank capital and interbank market activity and find support in a large sample of U.S. commercial banks.

Corporate tax reforms and tax-motivated profit shifting: evidence from the EU

Abstract: This paper examines whether the profit-shifting trend in Europe during 2003–2013 can be explained by tax policy changes. Consistent with prior literature, we find that affiliates’ profits are sensi...

Recursive and Discursive Model of and for Entrepreneurial Action

Abstract: This paper proposes a model of entrepreneurial action that integrates three distinct elements. First, it brings together action and time to articulate a recursive relationship between perception and action, mediated by consequences. Second, it brings together action and context to ground the entrepreneur’s perceptions and actions in a mesh of social orders and practices. Third, it articulates the content of perceptions and actions as discursive entries and exits in a social language game of giving and asking for reasons. We discuss a number of implications for a systematic understanding of different manifestations of entrepreneurship.