This study focuses on the effect of Corporate Social Responsibility (CSR) initiatives on financial performance, using the information disclosed by companies on their websites. The final sample is made up of the 122 companies listed on the Madrid Stock Exchange (Spain). The empirical analysis entailed two phases: an analysis of the differences among the companies' Financial Performance (FP) depending on their CSR strategy, and the use of a hierarchical cluster analysis and a multiple linear regression in order to explain the effect of CSR practices on corporate performance. The results of the analyses were significant and in the direction hypothesised. That is, CSR improves financial performance and, when considering the intangible components of CSR, the relationship is stronger for the company's long-term performance than for its short-term performance.

This paper analyzes the Corporate Social Responsibility (CSR) of a sample of wineries in Spain and its effect on the companies’ performance. We used a questionnaire created with a validated scale that includes environmental and social dimensions. The final sample was made up of 127 firms that participated in the National Wine Fair (FENAVIN) in 2019, and this was analyzed using a cluster analysis and means contrast to verify whether a CSR-performance relationship exists. The performance was measured using the average return on assets (ROA) for the prior three years. The results obtained do not support the general opinion that enterprises involved with CSR achieve better results. On the contrary, we found that wineries that are more environmentally responsible are the least profitable and that those with more socially responsible behavior do not have a significant CSR-performance relationship.

The European Commission considers the following groups of entrepreneurs: females, family businesses, liberal professions, migrants, and seniors. Disabled people are not included, and this paper could, therefore, open up a new field of research and an important issue to be considered among the European Union’s social objectives. The University of Castilla-La Mancha (UCLM) in Spain provides an entrepreneurship education course, “Entrepreneurship and disability,” for disabled students. It is the first time that a course with these characteristics has been taught at a Spanish University, which signifies that there is no similar research of this nature. Keeping in mind its originality, this study makes an important contribution to the field. The main objective is to analyze whether the motivation to start up a business differs between students with disabilities and those without. We analyzed “before” and “after” data in order to test the potential impact of entrepreneurship education on the students’ entrepreneurial attitude. An analysis of variance with several demographic variables has allowed us to prove that the education that students received, their business experience, and their field of study have significant effects. This statistical test showed no significant differences between disabled and non-disabled students.

Purpose-The purpose of this study is to analyze, in the context of the last economic crisis, the prediction capacity of the different risk measures and the relationship between risk and return. Design/methodology/approach-We selected three risk measures constructed using annual accounting data obtained from Spanish companies. A logistic regression was then developed to verify whether the companies' predictions were eventually correct, considering those companies that were able to survive the crisis. A multiple linear regression was subsequently employed in order to review Bowman's paradox, that is, in the risk-return relationship. Findings-The research results support the two hypotheses formulated: 1) variability measures of risk have a greater predictive power than that of downside risk measures; 2) the risk-return paradox is more likely to exist in the more uncertain environment of a pre-crisis period of time. Originality/value-Managers could employ the frameworks developed in this study as important diagnostic tools in order to attain advance warning of whether an organization may be close to failure. An analysis of this nature would then allow a firm to take appropriate action to arrest the process.

The main purpose of this paper is to provide an understanding, within the field of corporate entrepreneurship, of the various factors that enable technology entrepreneurship in established firms and its principal effects on customers and society. The paper reports on a case study regarding technology entrepreneurship in a Spanish company whose activity is pharmaceutical distribution. This company has been able to overcome the consequences of the worldwide crisis and start an innovative process which includes the installation of new information technology (IT) and an investment of 6 million Euros. It is, in this respect, a model to imitate and the objective of this paper is therefore to discover the managers’ entrepreneurial orientation (EO) characteristics which have made this possible, along with the organizational and social effects resulting from the process. We verify that EO is present in this company and that the development of new IT has important effects on customers and the population.