Differences in Financial Performance Amongst Spanish Smes According to Their Capital‐ownership Structure: A Descriptive Analysis

Melgarejo, Zuray; Simon, Katrin; Arcelus, F.J.

doi:10.1111/j.1467-8292.2009.00407.x

Cited by 6 publications

(6 citation statements)

References 20 publications

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“…The risk aversion of owners, whether members or shareholders (Jensen and Meckling ; Melgarejo et al. ; Chevalier ), along with limited access to capital (Chaddad and Cook ; Maietta and Sena ) also may reduce innovative capability. Other studies (Richez‐Battesti et al.…”

Section: Introductionmentioning

confidence: 99%

Mature Social Economy Enterprise and Social Innovation: The Case of the Desjardins Environmental Fund

Vézina

Malo

Selma

2017

Ann Public Coop Econ

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This study seeks to understand the nature and process of social innovation driven by mature social economy enterprises, and the innovative capability that supports it. The research examines enterprise capabilities by means of the institutional approach to social innovation and the Resource-Based View theory (RBV). Based on grounded theory, this research focuses on a single case, the creation of the Desjardins Environment Fund (DEF). Launched 25 years ago, 1 DEF is the first mutual fund in North America to include extra-financial criteria in its evaluation of business environmental management practices (fund securities) for the information of individual investors. The findings of this empirical research show how a major cooperative bank can generate social innovation and how this entails organizational innovations. The findings also reveal how these innovations benefit from the strategic and process resources that the Desjardins Movement managed to develop while taking into account both its core business (as a bank) and its purpose (as a cooperative). This study shows that the innovative potential of the mature social economy enterprise should not be underestimated.

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Section: Introductionmentioning

confidence: 99%

Mature Social Economy Enterprise and Social Innovation: The Case of the Desjardins Environmental Fund

Vézina

Malo

Selma

2017

Ann Public Coop Econ

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“…Poli et al (2017) and Gonçalves et al (2022) mentioned that a lack of knowledge about the standard is the leading factor in not implementing it. Melgarejo and Arcelus (2010) inferred that while IFRS for SMEs is a vast improvement from full IFRS, it is still not ideal for SMEs. The IASB ( 2004) stated that the adoption of any new reporting framework would at first cost huge amounts, both to the profession and the reporting entities.…”

Section: Business and Management Horizonsmentioning

confidence: 99%

The Perceived Value of Implementing IFRS for SMEs: An Exploratory Study from the Point of View of Managers in Jordan

Alduneinat

2024

BMH

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The purpose of this exploratory study is to add to the literature on the perceived value of applying IFRS for SMEs standard from the perspective of managers in Jordan’s small and medium-sized enterprises (JSMEs). Based on previous literature and the Value-Based Model Theory, which incorporates the cost-benefit analysis principle, a questionnaire was developed, and 137 valid ones were used to test data regarding the perceived value of appropriateness, possibility, cost, and benefits of implementing IFRS for SMEs standard.The study’s major conclusion found a moderate level of positive consensus about implementation perception; the results also suggested that benefits marginally outweighed implementation costs.The study’s goal is to raise policymakers’ and regulatory experts’ attention to the potential benefits, costs, and obstacles of implementing the standard.this study contributes to international accounting harmonization efforts by demonstrating how Jordanian managers assess the costs, benefits, and opportunities of IFRS for SMEs in JSMEs implementation. This study recommended the following: Expedite the application, conduct thorough IFRS for SMEs awareness and training programs at different levels, and provide financial data for these SMEs in the public interest.Future studies should test new firm variables after the application of this standard and, the reasonable costs and benefits are known.

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“…These differences are primarily related to the size of the labor force, and to output and owner/worker remuneration policies (Melgarejo et al. ; Melgarejo et al. 2007c).…”

Section: The Lof/pcf Dividementioning

confidence: 99%

“…Nevertheless, it is the different role played by the labor factor in LOFs and PCFs that gives rise to the main behavioral differences in performance between these two types of firms (Monzón 1989). These differences are primarily related to the size of the labor force, and to output and owner/worker remuneration policies (Melgarejo et al 2010;Melgarejo et al 2007c). In terms of size, the number of workers remains virtually unchanged in the short term, thereby being much less sensitive to changes in market conditions than is the case for a PCF (Robinson 1967).…”

Section: The Lof/pcf Dividementioning

confidence: 99%

Managerial Performance Differences between Labor-Owned and Participatory Capitalist Firms

Arcelus¹,

Melgarejo²,

Simon³

2013

Journal of Small Business Management

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This paper tests for differences in the managerial performance of micro and small firms, classified by capital‐ownership configuration, be they labor‐owned or participatory capitalist firms. Measures of managerial performance comprise indices of economic performance, profitability, financial structure, worker remuneration, and solvency. Explanators of these differences include the age of the firm, its economic sector of operations, its capital‐ownership configuration and an ordinal measure of strategic risk. The evidence rejects Gibrat's law of proportional effects, in favor of the life cycle hypothesis. It also leads to inconclusive short‐term effects and to a nondifferential role of the type of key capital‐ownership configuration in a firm's long‐term prospects.

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Differences in Financial Performance Amongst Spanish Smes According to Their Capital‐ownership Structure: A Descriptive Analysis

Cited by 6 publications

References 20 publications

Mature Social Economy Enterprise and Social Innovation: The Case of the Desjardins Environmental Fund

Mature Social Economy Enterprise and Social Innovation: The Case of the Desjardins Environmental Fund

The Perceived Value of Implementing IFRS for SMEs: An Exploratory Study from the Point of View of Managers in Jordan

Managerial Performance Differences between Labor-Owned and Participatory Capitalist Firms

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