This study explores how the corporate entrepreneurship (CE) of state-owned enterprises (SOEs) evolves under varying conditions of state ownership and control, laws and norms, and competence in the market. For this purpose, we present a longitudinal case study focused on the Spanish postal operator Correos using qualitative archival data and interviews. Our results indicate that the willingness and capacity of an SOE to act entrepreneurially depends critically on its degree of autonomy from the state and on the extent to which its legal and market environments increase its dynamism, complexity, and hostility. We also show that the development of CE in an SOE may lead to improved service quality, operational efficiency, and business specialization; facilitate its market positioning; and foster its sustainability through the exploration and exploitation of strategic alliances that can increase its business scope.

In this article, we examine the statistical properties of the time series corresponding to the number of national and international visitors in Spain using fractional integration. This methodology allows us to examine the degree of persistence of the series, and thus, infer some conclusions about the nature of the shocks. According to the results reported in this work, seasonality matters in both cases, being more important in international tourism. Moreover, we observe significant differences in the degree of persistence between national and international tourism. Although both series seem to be mean reverting, with shocks having a transitory nature, higher orders of integration are observed in the case of the international arrivals.

This article presents empirical evidence about the contribution of family controlled business groups as highly efficient alternatives to the large verticallyintegrated and professionally managed corporation in specific institutional and marketenvironments. This hypothesis is tested with a singular case study, SEUR, in the Spanish transport services sector. SEUR is one of the most prominent Spanish courier companies. It was founded during Franco´s dictatorship, expanded in democratic times, and adapted to the financial challenges of the late globalization during the end of the 20 th century with imagination, and the maintenance of old, traditional values based on personal trust and family ties.

Nuestro trabajo tiene dos objetivos. El primero y más importante es proponer una nueva causa de las restricciones eléctricas sufridas durante el primer franquismo, consistente en las implicaciones que tuvo para el sector eléctrico el pacto firmado en 1934-36 entre Saltos del Duero y las empresas agrupadas en lo que se dio en llamar grupo hidroeléctrico. Por este convenio, Saltos del Duero se erigió en productor dominante y el grupo hidroeléctrico en distribuidor en dos zonas de España, la centro y la norte-noroeste, lo que convirtió a Duero en el principal decisor en materia de nuevas construcciones. Dicho pacto implicó un radical conflicto de intereses entre Duero, a quien le convenía moderar sus inversiones hasta tener garantizada la colocación de la nueva producción, y el grupo hidroeléctrico, deseoso de disponer de energía abundante. Los gestores de Duero, dominados por los problemas y la mentalidad de los años treinta, cuando el problema era la falta de demanda, dificultaron la respuesta de la oferta. El segundo objetivo, por último, es mostrar nuestras dudas acerca de la relevancia que tuvo la congelación de las tarifas en las decisiones de inversión.

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