Person:
Fernández Guadaño, Josefina

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First Name
Josefina
Last Name
Fernández Guadaño
URI
https://hdl.handle.net/20.500.14352/74764
Affiliation
Universidad Complutense de Madrid
Faculty / Institute
Ciencias Económicas y Empresariales
Department
Administración Financiera y Contabilidad
Area
Economía Financiera y Contabilidad
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    Employee-Owned Firms from a Stakeholder Perspective
    (Journal of International Development, 2018) Fernández Guadaño, Josefina; López Millán, Manuel
    This study focuses on the role of employee-owned firms (EOFs) in value creation from a stakeholder perspective. EOFs have been defined as Social Economy enterprises in Spain following guiding principles that in our opinion should empower stakeholder governance. Therefore, the impact of employee share ownership on value creation for shareholders and stakeholders has been measured on the basis of a sample of 1006 enterprises. The results reveal that EOFs have a positive and significant influence on the distribution of value in favour of the employees but not the other stakeholders. This finding, which allows us to partially accept one of the proposed hypotheses, is consistent with previous evidence that EOFs set their objectives to maximize the value obtained by the participating employees through their financial participation in the business, and not, therefore, to maximize profits.
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    Estudio de los flujos económico-financieros de las sociedades cooperativas en la educación : un enfoque de concentración empresarial
    (2004) Fernández Guadaño, Josefina; García-Gutiérrez Fernández, Carlos
    El trabajo que se presenta tiene como objetivo ser un analisis formal y pormenorizado de las sociedades cooperativas en la educación, estableciendo su clasificacion por razon de la contribucion de los socios al proceso educativo, como proveedores de educacion, consumidores o ambos, del servicio que produce la empresa de la que son socios. Las sociedades cooperativas que desempeñan su actividad en la educacion se conciben en su dimension estrictamente empresarial mediante el analisis de los tres tipos de flujos que acontecen en toda empresa: pero a su vez teniendo en cuenta las caracteristicas (reglas o principios cooperativos) que las diferencial del resto de formas juridicas. Con este trabajo se establece un estudio, desde la perspectiva y metodologia de las Administracion de Empresas, del funcionamiento y los aspectos diferentes, especificos y genuinos de la sociedad cooperativa en la educacion respecto al resto de centros publicos y privados convencionales. Por otro lado, se analiza la actividad educativa como mecanismo de intercooperacion entre sociedades cooperativas a traves de las diferentes manifestaciones de la concentracion empresarial que pueden utilizar este tipo de empresas. El estudio que contienen los cuatro capitulos se centra en el caso español, aunque se ocupa de las Comunidades Autonomas cuando presentan alguna particularidad o novedad. El trabajo se compone de seis partes: 1.-La primera parte, desarrolla los fundamentos teoricos, que pretenden delimitar el concepto de empresa objeto de este estudio. 2.-La segunda parte, describe el entorno en el que se desenvuelven las sociedades cooperativas en la educacion, a traves, del analisis del marco legal, socio-economico e institucional. 3.-La tercera parte, se ocupa del analisis funcional, es decir, de los flujos de la sociedad cooperativa en la educacion: los informativo-decisionales, los reales y los financieros. 4.-La cuarta parte se dedica a la concentracion empresarial de las sociedades cooperativas en la educacion, y se centra en los aspectos relacionados con la intercooperacion de los centros docentes cooperativos. 5.-La quinta parte recoge las conclusiones del trabajo. 6.-Y por ultimo, en sexto lugar, se incorpora la bibliografia y la normativa utilizada para la realizacion de la investigacion
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    Measuring the economic performance of socially responsible companies
    (Journal of Economics and Business, 2015) Fernández Guadaño, Josefina
    This paper presents a one-dimensional exploratory study which compares the socially responsible companies included in the Spanish sustainability index, FTSE4Good Ibex, with the rest of the indices in the IBEX family. The aim is to use different economic variables to establish whether there are differences in economic performance. Parametric testing was used to study whether there are differences between the two types of companies. The results demonstrate that there are no statistically significant differences in economic performance between the two groups. The study confirms that companies with good practices are as profitable as the rest, but it also demonstrates that the economic-financial behaviour is not better as a result of being in the sustainability index.
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    Analysis of the economic differences between capitalist and labour-owned enterprises
    (International Journal of Social Economics, 2009) Fernández Guadaño, Josefina
    Purpose – In recent years, an increasing interest in the participative practices of the workpeople in their companies has taken place in the European Union. Taking advantage of this situation, the purpose of this paper is to show additional evidence of the benefits from companies with majority worker’s capital participation as opposed to firms that do not follow this approach. Bearing in mind, also, that Spain is the only European country with the juridical form of financial majority participation of the workpeople, in order to recommend it in the European context according to the reached results. Design/methodology/approach – To study whether or not there are differences in the two types of companies, a logistic regression model is used. Findings – In this study, results indicate that business profitability (return on assets), productivity and equity capital coefficient are not significant variables for the purpose of determining the distinguishing features of labour-owned firm (LOF) as against capitalist firm. The only variable of those originally included which has turned out to be significant is the financial profitability (return on equity). Practical implications – Initial proposal: specific European law governing investment capital of employees. Originality/value – The study will be useful to show the characteristics of Spanish LOFs (operating under their own legal structure) and their benefits. Keywords Return on capital employed, Spain, Business enterprise, Business analysis, Employees Paper type Research paper
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    Project number: 33
    Mentoring para la enseñanza online y mixta. Cambios en las metodologías que se han implementado con la nueva docencia. Estudio y puesta en común de las diferentes metodologías y herramientas didácticas entre las áreas. Focus group con alumnos
    (2022) Lambea Rueda, Ana; Grau Ruiz, María Amparo; Briones Martínez, Irene; Callejo Rodríguez, Carmen; Falcón y Tella, Ramón; Fernández Cano, Ana Cristina; Fernández Guadaño, Josefina; Fernández de la Iglesia, Elena; García Carretero, Belén; González Hernández, Rut; Gutiérrez del Solar Calvo, Beatriz Inmaculada; de la iglesia Monje, María Isabel; López Medina, Isabel; López Millán, Manuel; López Ruiz, Tomás Enrique; Martín Fernández, Francisco Javier; Muñoz García, Carmen; Peña Velasco, Gaspar de la; Sánchez Gómez, Amelia; Sánchez Castro, Manuel Alejandro; Vázquez Muiña, Tania; Navarro Lérida, María del Sagrario; Palomino Lambea, Gabriel; Paxarín Muñoz, Carlos
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    El emprendimiento y el empleo a través de la empresa individual: Contraste de fuentes estadísticas
    (REVESCO. Revista de Estudios Cooperativos, 2008) García-Gutiérrez Fernández, Carlos; Lejarriaga Pérez de las Vacas, Gustavo; Bel Durán, Paloma; Fernández Guadaño, Josefina; Martín López, Sonia
    El entorno micro y macroeconómico actual supone un importante reto para las microempresas y los trabajadores autónomos en los que la obligada gestión eficiente será el filtro discriminante en la selección de los que han de sobrevivir. La economía está en un proceso de cambio importantísimo que requiere de empresarios. En la búsqueda de la innovación y la eficiencia, este colectivo empresarial no puede aislarse y debe buscar la implicación de los diferentes agentes económicos y sociales – asociaciones, universidades, cámaras de comercio, la Administración Pública – y hoy más que nunca el Sistema Financiero que debe ser corresponsable de que el trabajo autónomo supere la crisis económica sin restringirles la liquidez para desarrollar su actividad teniendo en cuenta sus dificultades adicionales. En orden a facilitar el estudio del colectivo y así poder analizar sus necesidades este trabajo pretende cuantificarlo contrastando las distintas fuentes estadísticas disponibles y, establece una comparación entre las mismas, para poder llegar a una distribución de los trabajadores autónomos emprendedores lo más precisa posible.
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    Project number: 265
    Asistencia virtual para apoyo del personal de administración y servicios en nuestra página www.ucm.es
    (2021) Lambea Rueda, Ana; Grau Ruiz, María Amparo; Falcón Tella, Ramón; Briones Martínez, Irene; de la Peña Velasco, Gaspar; Martín Fernández, Francisco Javier; de la iglesia Monje, María Isabel; Muñoz García, Carmen; Fernández Guadaño, Josefina; Amesti Mendizabal, Christi; Gutiérrez del Solar Calvo, Beatriz Inmaculada; Callejo Rodríguez, Carmen; Sánchez Gómez, Amelia; Berrocal Lanzarot, Ana Isabel; López Ruiz, Tomás Enrique; López Millán, Manuel; Sánchez-Castro Marín, Manuel Alejandro; Vázquez Muiña, Tania; García Carretero, Belén; Fernández Cano, Ana Cristina; Sánchez Durán, Sergio; González Hernández, Rut; Fernández de la Iglesia, Elena; Paxarín Muñoz, Carlos; Navarro Lérida, María del Sagrario; Fernández García, Ana; López Medina, Isabel
    Este proyecto de innovación es continuación de los proyectos de los cursos 2018/2019 y 2019/2020. El proyecto investiga acerca de las cuestiones que la asistencia virtual puede aportar a la universidad. Pese a los esfuerzos destinados a informar a profesores, alumnos y egresados, y personal de administración y servicios, se observan dificultades en el acceso a la información, por desconocimiento de recursos que la UCM tiene disponibles, o por cuestiones relacionadas con el acceso a la misma.
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    Employee-owned firms: A business model of Social Economy with potential
    (Transformations in Business and Economics, 2015) Fernández Guadaño, Josefina
    In Spain, the companies that are mainly owned by the employees form a part of the Social Economy and offer an alternative business model, which is found in a conventional capitalist economy. The objective of this study is to establish whether there are significant differences in the performance of Employee Owned Firms (EOFs) and more conventionally structured businesses, non-Employee Owned Firms (non-EOFs), due to the inherent differences in the capital-ownership structure. The aim is to establish whether or not a corporate governance structure characterised by the employee participation for both the financial and the informational decision-making aspects can be advocated. The results show differences in favour of the conventional non-EOFs for various indicators measuring economic performance and confirm the different objectives of each business type; however, they provide evidence of significant differences in favour of the EOFs in terms of the efficient use of the capital and labour factors of production, according to the theoretical literature.
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    Impact of Corporate Social Responsibility on Value Creation from a Stakeholder Perspective
    (Sustainability, 2018) Fernández Guadaño, Josefina; Sarria Pedoza, Jesús H
    In recent years, we have witnessed how companies and institutions have devoted significant effort to developing Corporate Social Responsibility (CSR) policies, basing their decision on the improvement in company results and the subsequent benefits for shareholders and other stakeholders. CSR means that managers must go beyond the mere satisfaction of the shareholders and take steps to establish balanced relations with all their stakeholders. The principles behind the CSR approach empower stakeholder governance. To test whether CSR policy constitutes a factor in value creation for shareholders and certain stakeholders such as employees, creditors and the State, we conducted an explanatory study, using a Correlated Random Effects approach, which compares the socially responsible companies included in the Spanish sustainability index, FTSE4Good Ibex, with the companies listed on the other indices of the IBEX family. On the one hand, the data show that sustainability reporting is well established in large companies in Spain but that it needs to be introduced more extensively in small and medium-sized enterprises. On the other hand, the findings point out that CSR has a positive and significant influence on the distribution of value in favor of the State, a negative influence for employees and no influence on other stakeholders.
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