Juan Sapena

Do credit constraints reduce foreign jobs? A note on foreign direct employment

This article studies the effect of credit constraints on the jobs created by multinational enterprises in host countries. Although most FDI is labour intensive, few studies delve into the determinants of foreign direct employment (FDE). This article constructs a model of limited commitment between the financed and financing parties to explain how FDE is affected by financial frictions. Moreover, this study examines FDE’s determinants empirically on a global data set including FDE data from 161 countries during 2003–2010 by means of the gravity equation. Results show that credit constraints during the Great Recession roughly halved FDE, tripling the effect on FDI and suggesting that domestic jobs slightly outpaced foreign jobs.

The Effect of Systemic Banking Crises on Entrepreneurship

Economic crises have mixed effects on entrepreneurship. Through demand shocks, credit constraints, and unemployment, systemic banking crises affect the rate of start-up business creation, although the extent of their impact varies. Consequently, previous studies on the effect of crises on Entrepreneurship are inconclusive. The surge of global demand coupled with low credit availability reduces the prospects for new businesses. On the other hand, job losses caused by an economic crisis might lead many entrepreneurs to undertake new projects. These inconsistent conclusions highlight the need for more studies that explore the effect of systemic banking crises on entrepreneurship. This article presents analysis of a global panel database consisting of data on new business activity and density for 106 countries during 2004–2012. A range of regression techniques yielded robust results that show that systemic banking crises have a consistently negative impact on entrepreneurship.

Do Financial Crises Moderate Entrepreneurial Recipes? A Comparative Fuzzy Analysis

ABSTRACT This study performs a fuzzy set qualitative comparative analysis (fsQCA) on entrepreneurial recipes. The research focuses on the moderating role of the 2007 financial crisis on the antecedents of entrepreneurship. Standard regressions analysis proves insufficient to uncover asymmetrical and complex relationships that explain the effect of credit constraints on new business. Empirical results on longitudinal data suggest that the crisis moderated entrepreneurial recipes in Spain. This research contributes to QCA analysis by studying moderation effects on time-series data.

Learning by Teaching and Assessing: A Teaching Experience

This chapter describes a teaching experience whereby students learnt by teaching and assessing other students. A group of students was tasked with explaining a topic from the course and preparing an exam on that topic. The remaining students in the class completed a questionnaire to measure their satisfaction. They also completed an online test on the topic following the presentation by their peers. Assessment was based on a win-win strategy because the average mark on the test counted towards the final assessment of the students who gave the presentation. The methodology allows students to study content in greater depth level and develop skills like responsibility, critical analysis and empathy. Learning by teaching lets students take individual actions that demonstrate responsibility for the group as a whole Survey results indicated high student satisfaction. Furthermore, social interaction was greater with the learning by teaching method than with the traditional case study approach.