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Dynamic versus static culture in international business: a study of Spanish banking in China

Joaquin López Pascual and Yingying Zhang

The purpose of this paper is to empirically identify two types of cultural perspective in cross‐cultural management studies: dynamic versus static perspectives, in particular their interaction in the international business of the firm.

Design/methodology/approach – The paper adopts an exploratory approach using qualitative data. After two phases of data collection, the management by values concept is taken to identify both the manifested and latent levels of characteristics of these two different approaches to cross‐cultural management in international business.

Findings – The study results identify the characteristics of two cultural perspectives: dynamic versus static. Tables on static cultural comparison and the acculturation process illustrate their different natures and highlight their potential implications for further business and theoretical development.

Originality/value – The paper empirically identifies dynamic and static cultural perspectives in international business process, highlighting the relevance of distinguishing these two perspectives in the globalizing business world. The characteristics of dynamic and static culture illustrated build a base for further research in this line for international business and cross cultural management.

Zhang, Yingying & Pascual, Joaquin. (2012). Dynamic versus static culture in international business: A study of Spanish banking in China. Cross Cultural Management: An International Journal. 19. 588-611. 10.1108/13527601211270039. 
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Sustainability in FinTechs: An Explanation through Business Model Scalability and Market Valuation

Roberto Moro-Visconti, Salvador Cruz Rambaud and Joaquín López Pascual

Financial Technology (FinTech) is an industry composed of diversified firms that combine financial services with innovative technologies.

The research question and main goal are attempting to answer whether they are more similar to traditional banks or trendy technological firms deploying their innovativeness to favor financial inclusion and sustainability.

Objective: This study goes beyond the extant literature, analyzing the differences between FinTechs and traditional banks in market valuation, and showing the potential for digital interaction and cross-pollination of complementary business models.

Methodology: The differences will be empirically analyzed with the stock market valuation and the multipliers associated with these firms.

Results: The main contribution of this paper is that the appraisal approaches of FinTechs follow those of technological startups, having a revenue model much more scalable than that of a typical bank.

FinTechs may so provide a solution for sustainable finance with microfinance and crowdfunding among others.

FinTechs and traditional banks may eventually converge towards a common market exploiting co-opetition strategies.

Leer artículo completo: AQUÍ 
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Todo ser humano, si se lo propone, puede ser escultor de su propio cerebro

Se afirma que la toma de decisiones de inversión debe basarse en análisis racionales basados en hechos y no en emociones. Sin embargo, tratar de ganar dinero con los pronósticos del mercado puede desencadenar todo tipo de respuestas emocionales.

Como la pregunta sobre cómo deciden los inversores sigue siendo controvertida, llevamos a cabo un metanálisis de estimación de probabilidad de activación (ALE) utilizando estudios de imágenes de resonancia magnética funcional (fMRI) a través del análisis del cerebro en sujetos que realizan tareas de inversión.  

Tratar de dar sentido a toda la información que transmiten los mercados financieros escuchando las propias emociones sin dejarse anular por ellas implica un esfuerzo coordinado de varias áreas del cerebro para llegar a una decisión.

Dado que la cuestión de cómo los inversores toman decisiones aún no se ha descubierto por completo cabe destacar la importancia del metaanálisis a cerca de la convergencia de las regiones del cerebro necesaria para este complejo proceso de toma de decisiones.

Las decisiones de inversión involucran áreas límbicas que sopesan la recompensa frente al riesgo, ya que las carteras de inversión se basan en tratar de lograr un equilibrio óptimo entre rendimiento y riesgo. Las emociones hacia estos dos conceptos, y los conflictos emocionales que pueden surgir al priorizar entre ellos, son un factor influyente que orienta este proceso de decisión.

En el mercado de valores, aspectos como cuándo comprar o vender, las condiciones del mercado o incluso la forma en que se comportan otros inversores pueden afectar si una inversión resultará rentable o no.

Como una vez advirtió Warren Buffet, “tenga miedo cuando los demás sean codiciosos y codiciosos cuando otros tengan miedo”.

Todo inversor sabe cómo ser temeroso y codicioso, pero lo que realmente necesita descubrir es cuándo es el momento adecuado para ser uno u otro.

El mismo comportamiento de inversión y la misma activación cerebral podrían dar lugar a rendimientos diferentes según el momento.

Determinar el papel de un área específica del cerebro en este proceso de toma de decisiones es de hecho una tarea complicada.

Dejo a vuestra disposición este interesante artículo fruto de la colaboración, en el campo de la Economía, la psicología y la neurociencia, es decir en el campo de la NEUROECONOMÍA:

https://www.mdpi.com/2076-3425/11/3/399/htm

"Todo ser humano, si se lo propone, puede ser escultor de su propio cerebro". 
                                         Santiago Ramón y Cajal 
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Preferences over sequences of payments: A new validation of the q-exponential discounting

Salvador Cruz Rambaud, Joaquín López Pascual, María de los Ángeles del Pino Álvarez.

The preference for incremental gains, or the improving sequence effect, has been presented as one of the most important anomalies in intertemporal choice.

Usually, the experiments to verify this effect have been based on sequences of incomes, and most of them have shown a preference for an increasing sequence.

The objective of this paper is to analyse this topic in the context of loan repayment plans where a preference for constant and decreasing over rising payments is expected.

The methodology applied in this paper is based on the use of questionnaires in the same way as Hoelzl et al. (2011) to evaluate different loan plans with the same interest rates and durations.

It clearly shows that people prefer those plans which repay more at the beginning of the loan duration. Thus, the main contribution of this paper is the use of the q-exponential discounting to explain this revealed decreasing sequence effect because the q-exponential discount function can exhibit the inconsistency in intertemporal choices based on a decreasing interest rate.

Finally, recommendations are made for banking institutions when considering their strategies of interest rate offers in the context of bank marketing.

This paper recommends a bank strategy with respect to the offer of interest rates.

In:

https://www.sciencedirect.com/science/article/abs/pii/S0378437118312950?via%3Dihub

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Microfinance institutions in the USA: the glocalization of microcredit policies in relation to gender

The aim of this research was to inquire if foreign microfinance institutions (MFIs), interested in entering the US microfinance market because of its location advantages, should glocalize their microcredit policies.

Research found that women in the USA are a no better risk for microcredit than men, and there are no differences in the repayment of microloans between men and women.

The payment behaviour of women and men related to certain specific variables was also investigated. A survey sent to 203 MFIs was used, to which 17.73 per cent responded.

Findings show that, in the USA, there are no strong incentives, motivations or external pressures which influence women to pay microcredits better than men.

Therefore, international MFIs entering the USA should glocalize their microcredit policies in relation to women as well as their product design and policies for granting microloans.

https://www.joaquinlopezpascual.com/-/nueva-publicacion