Yolanda Fuertes-Callén

Measuring DEA efficiency in internet companies

This paper uses Data Envelopment Analysis (DEA), a non-parametric approach to the estimation of production functions, in order to assess efficiency in dot corn firms. These firms have two objectives: to make an impact in the Internet and to obtain revenues from their activities. For this reason, the outputs have been two: unique visitors--a web metric--and revenues. DEA efficiencies have been obtained under various input/output combinations. A ranking of dot com firms in terms of relative efficiency has been obtained. A method based on multivariate analysis has been proven to be successful at showing the strengths and weaknesses of individual dot com firms. It is shown that there is a relationship between the type of e-business (e-tailers, search/portal, content/communities), and the way in which efficiency is obtained. The paper suggests a new approach to the problem of deciding which inputs and outputs the model should contain.

Online reporting by banks : a structural modelling approach

Purpose – A structural equation model is proposed to explain internet reporting by banks. The model relates three constructs of financial institutions (size, financial performance, and internet visibility) to their final influence on internet information disclosure (e‐transparency).Design/methodology/approach – This papers proposed model analyses a sample of Spanish financial institutions using publicly available data. The model is tested using partial least squares.Findings – A positive and statistically significant relationship has been found between size, financial performance, internet visibility, and e‐transparency, with direct and indirect effects. The study shows that size accounts for most of the variance. Size has a positive effect on e‐transparency, financial performance, and internet visibility. However, the direct effect of financial performance and internet visibility on e‐transparency is small.Research limitations/implications – The researchers have analysed only one year of data from one c...

Determinants of online corporate reporting in three Latin American markets: The role of web presence development

Purpose – The purpose of this paper is to explore the determinants of online corporate reporting in three Latin American emerging markets, Argentina, Mexico and Chile, providing further evidence to test the mediation role of web presence development in the relationship between these determinants and e-disclosure. Web presence development measures the firms efforts to archive web visibility, web usability and convenience. Design/methodology/approach – Based on a content analysis of corporate web sites, the extent of the information is measured by three internet disclosure indexes. Four constructs which are considered key drivers of a firms disclosure strategy are identified. Structural equation modelling (SEM) was used to assess the research model. The sample contains publicly available data on listed companies’ web sites. Findings – The results reveal that the development of a firms presence on the internet is as important as its characteristics in determining corporate transparency and in mediating th...

Determinants of Margin in Microfinance Institutions

ABSTRACT Microfinance institutions (MFIs) lend to the poor. However, microfinance clients suffer from high interest rates, a type of poverty penalty. This article analyses the margin determinants in MFIs. A banking model has been adapted to microfinance. This model has been tested using 9-year panel data. Some factors explaining bank margin also explain MFI margin, with operating costs being the most important factor. Specific microfinance factors are donations and legal status, as regulated MFIs can collect deposits. It has also been found that MFIs operating in countries with a high level of financial inclusion have low margins.

What is the role of commercialisation and reputation in product innovation success

Abstract This paper analyses the role of commercialisation strategy and product reputation in the relationship between innovation and the market performance. This is a particularly interesting question for high tech companies. The technical complexity of their products can make it difficult for the consumer to evaluate their degree of quality and innovation. Because of this, companies need to focus effort on the innovation diffusion process. This study uses Partial Least Squares to demonstrate that the commercialisation and reputation of innovative product intervene in the relationship between innovation and product success in the market. They have a mediating effect that explains the positive impact of the former on the latter. In light of the results, these mediating variables may be considered complementary tools for achieving innovation success into the market.

Path modelling to bankruptcy: causes and symptoms of the banking crisis

This article studies the bankruptcy of US banks since 2009. It first analyses the financial symptoms that precede bankruptcy, such as low profitability, insufficient revenue or low solvency ratios. It also goes into the causes of these symptoms. It poses several hypotheses on causes of failure, such as loan growth (some of them risky), specialization (in this case concentration in real estate) and the pursuit of a turnover-driven strategy neglecting margin. It presents and tests a structural equation modelling based on partial least squares path modelling (PLS-PM) and logistic regression. Results show that, 5 years before the crisis, failed banks had, compared to solvent banks, the following: higher loan growth, higher concentration on real estate loans, higher risk ratios, higher turnover, but lower margins. A relationship is found between symptoms and causes. Failed banks present a significant relationship between the percentage of real estate loans and risk. This relationship is negative in excellent banks, confirming that they allocated less real estate loans with a high quality. Nonfailed banks compensated increases in risk by strengthening their core capital.

A structural model for sales in the e-retailing industry

AbstractThis article analyses intangible constructs that affect sales on the Internet retailing industry. We suggest an explanatory model for the success of retailers that operate on the Internet. Non-financial information has been used to identify several intangible constructs: ‘web traffic generation’, ‘relevance in search engines’, ‘link popularity’, and ‘blogs popularity’. The success is measured through items derived from financial statements: sales and profits. The model has been built within a structural modelling framework. It has been estimated using Partial Least Squares with a sample of USA e-tailers. The results show that there is a significant relationship between the intangible constructs and accounting figures. This relationship is stronger when we consider Sales from Internet Operations rather than Total Sales or Net Profit.