Andrés Navarro-Galera

• Full Professor
• University of Granada

Purpose. The purpose of this research is to propose a tool for designing a microcredit risk pricing strategy for borrowers of microfinance institutions (MFIs). Design/methodology/approach. Considering the specific characteristics of microcredit borrowers, we first estimate and measure microcredit risk through the default probability, applying a par...

Previous research identified influencing factors in sustainability of public services but exclusively in large local governments, even though depopulation is currently a serious problem that affects rural areas of many European countries. However, despite that more than 80% of European municipalities have fewer than 5,000 inhabitants, more work is...

In Europe, the contribution of SMEs is enormous in terms of job creation and added value, although in recent years worrying levels of business failure and disappearance have occurred. These circumstances have led various researchers and international organisations to recognise the need for indicators that will enable the early detection of insolven...

In many countries, the full financial inclusion of persons with disabilities remains to be achieved. Although researchers and international organisations observed that financial inclusion would be facilitated by analysis of solvency, the causes of default risk among this population have yet to be established. Our study, applied to loans made by a S...

This paper addresses the problem of insolvency prediction in Spanish SMEs from a binary classification perspective. From a dataset containing more than 325 dependent variables of different natures (including demographic and economic-financial) and 17562 SMEs, a decision tree has been fitted that with a 0.93 accuracy predicts the state of a company...

Dans toute l’Europe, l’un des principaux problèmes auxquels sont confrontés les décideurs politiques est celui de la diminution des populations rurales. Dans de nombreux cas, cette baisse est aggravée par des niveaux élevés d’emprunts des gouvernements locaux. Bien que les chercheurs aient tenté de déterminer les causes de cette dette, on sait enco...

Les organisations internationales affirment que la corruption politique est un problème mondial majeur. Cependant, on ne sait toujours pas comment lutter contre la corruption. Des recherches antérieures ont étudié la corruption dans les gouvernements centraux ou locaux, rarement dans les gouvernements régionaux. Dans ce document, nous cherchons à i...

In today’s economic landscape, with its increasingly brief economic cycles and ever-changing market conditions, forecasting has become more critical than ever. In the specific case of small and medium-sized enterprises (SMEs), a crucial aspect is to anticipate the state of bankruptcy due to the low life expectancy of this type of company. A require...

This paper considers the extent to which the Governor's profile might influence the financial sustainability of the State government, via an empirical study of 50 US States during the period 2006-2013. The results obtained show that financial sustainability may be prejudiced when the State government experienced financial unsustainability during th...

Actualmente, es ampliamente reconocido que la historia de la contabilidad es una parte esencial de la historia económica y de la historia en general, puesto que el enfoque histórico-contable representa un instrumento muy útil para el estudio de los hechos económicos a lo largo de la historia. Aunque algunos trabajos han constatado cierta experienci...

Throughout Europe, one of the main problems facing policymakers is that of falling rural populations. In many cases, this is aggravated by high levels of local government borrowing. Although researchers have sought to determine the causes of this debt, much remains to be known about the factors influencing the default risk of small- and medium-size...

International organisations assert that political corruption is a major global problem. However, it is still unclear how to combat corruption. Previous research has studied corruption in central or local governments, rarely in regional ones. In this paper, we aim to identify factors influencing political corruption in regional governments. Using pa...

Academic researchers and international organisations have highlighted the need for a more extensive analysis of public finance in small and medium-sized local governments, in view of the high levels of borrowing observed, often aggravated by rural depopulation. The purpose of this paper is to identify financial risks by population size of local gov...

This study analyse the impact of female on the management of financial risk faced by local governments (LGs), through political and population variables. We conduct a statistical analysis of panel data to examine the financial behaviour of 133 large LGs in Spain during the period 2009-2017. The results reveal that LGs with a female mayor are at low...

To become financially self-sustainable, Microfinance Institutions (MFIs) trigger a schism in their management modes, thereby promoting efficiency and competitiveness. The increase of competition in the microfinance sector motivated by the entry of banks into this industry is another incentive for MFIs to implement advanced management systems. Prici...

In recent years, research findings and pronouncements by international organisations have recognised the usefulness and timeliness of advancing public policies to promote sustainable building. However, in many parts of the world, governmental measures have limited their scope mainly to energy efficiency in housing use. In the same vein, some experi...

This paper identifies some of the important factors that influence the financial sustainability of regional governments. Data from all of Spain’s regional governments show that unemployment, immigrant population, dependent population, structure of revenues and expenditures, and the source of debt had impacts on financial sustainability. This paper...

Depuis quelques années, la viabilité financière des autorités locales est considérée comme un concept d’une importance cruciale pour garantir le maintien des services publics pour les générations futures. Même si de nombreux pays européens ont mis en œuvre des programmes visant à améliorer leur viabilité financière, les autorités locales se caracté...

Although transparency on the sustainability of public services is an issue of urgent interest to both governments and academics, previous research in this area has mainly focused on developed European countries, and has paid insufficient attention to areas that are still developing, such as many Latin American countries. The aim of this study is to...

International organizations such as OECD, WBG, IMF, UN and EU, as well as research studies, have highlighted the increasing contribution being made by microcredit finance institutions (MFIs) to financial inclusion, sustainable economic development and the fight against poverty. However, access to MFI credit is still far from the desired level for s...

Since the outbreak of the international economic crisis in 2008, governments’ fiscal policies have been strongly influenced by high levels of public debt and default. Studies of the causes of debt problems for large local governments have emphasised the interest and timeliness of identifying factors that may influence the probability of municipal d...

The aim of this paper is to examine the influence of the right to information laws on sustainability transparency in European local governments. This goal is novel, in that previous studies have examined the effects of various factors on the dissemination of government information (demographic, socioeconomic, political and financial) but not the co...

Since the outbreak of the international economic crisis in 2008, governments’ fiscal policies have been strongly influenced by high levels of public debt and default. Studies of the causes of debt problems for large local governments have emphasised the interest and timeliness of identifying factors that may influence the probability of municipal d...

In recent years, financial sustainability (FS) of public policies has become a key concept in all governmental levels due to the need for ensuring public services delivery for future generations. Prior research has been focused on the financial sustainability in local governments (LGs) although its findings suggested the need to analyze this magnit...

RESUMEN La crisis económica global ha tenido un importante impacto en los gobiernos locales, especialmente por las fuertes tensiones financieras ocasionadas, provocando que los ciudadanos demanden una mayor transparencia en materia de sostenibilidad de los servicios públicos. Así, investigaciones previas y pronunciamientos internacionales están rec...

In recent years, the financial sustainability of local authorities has been recognised as a concept of crucial importance in ensuring that public services may continue to be delivered to future generations. Although many European countries have implemented programmes to enhance their financial sustainability, local authorities are characterised by...

In recent years, the financial sustainability of local authorities has been recognised as a concept of crucial importance in ensuring that public services may continue to be delivered to future generations. Although many European countries have implemented programmes to enhance their financial sustainability, local authorities are characterised by...

The aim of this study is to provide useful knowledge to policy makers and practitioners on how to promote the practices of sustainability transparency in local governments, based on the influence of the cultural environment on the disclosure of governmental information on sustainability, including social, environmental and economic information. We...

Purpose – The purpose of this paper is to obtain new knowledge about the accounting measurement of financial sustainability in local governments, by studying the influence of political factors on the evolution of income statements. Design/methodology/approach – This paper analyses income statements of Spanish municipalities from 2006 to 2014, toget...

El presente capítulo tiene por objeto mostrar una síntesis de las principales novedades incorporadas por el documento denominado “Marco Conceptual para la Información Financiera de las Administraciones Públicas”, que en este año 2018 acaba de sacar a la luz la Comisión de Contabilidad y Administración del Sector Público de la Asociación Española de...

In the current socioeconomic context, the question of local government sustainability transparency is of great interest to policymakers, managers, citizens and other stakeholders, and yet one to which previous research has devoted little specific attention. At the same time, the Internet has become an instrument of good governance worldwide and gov...

El propósito de este trabajo es conocer la influencia de las leyes de derecho a la información en la transparencia sobre sostenibilidad de los gobiernos locales europeos. Mediante un estudio empírico en los websites de 106 gobiernos locales pertenecientes a diez países europeos, nuestros resultados muestran que las leyes de transparencia han tenido...

Desde el inicio de la crisis económica internacional, los conceptos de transparencia y sostenibilidad han sido temas clave en las decisiones políticas dirigidas hacia el buen gobierno. Tanto investigadores como Organizaciones Internacionales han destacado el interés y la oportunidad de estudiar cómo los legisladores y gestores públicos pueden promo...

In the present socioeconomic context, the sustainability transparency in Local Governments is an issue of great interest for public managers, politicians, and several stakeholders, and nevertheless, previous literature has pay a little specific attention. The aim of this paper is to extend our understanding of sustainability transparency in Europea...

Due to the economic and financial crisis, the international organizations, especially the EU, have pointed out the necessity of studying government financial sustainability focusing on the demographic changes in order to identify potential drivers and risk factors. Indeed, the EU explains that the birth rate and the immigrant population could help...

What can increase the default risk in local governments? Concern has been expressed by international organisations and in previous studies about the financial situation of local governments, and the question of debt has been identified as a crucial element in efforts to overcome the current financial crisis. However, the variables that can affect t...

In the current crisis, citizens are demanding greater public sector transparency and accountability. In this paper, we advance the understanding of sustainability practices in public administration. We propose to compare the dissemination of sustainability of various regional governments, analyzing the websites of these regional governments through...

Nowadays, the transparency of governments with respect to the sustainability of public services is a very interesting issue for stakeholders and academics. It has led to previous research and international organisations (EU, IMF, OECD, United Nations, IFAC, G-20, World Bank) to recommend promotion of the online dissemination of economic, social and...

High levels of debt, provoked by a situation of economic and financial crisis, constitute a major threat to the financial sustainability of governments in the euro zone and in many other parts of the world. This delicate state of public finances also affects local governments and has led researchers to study the variables that influence the volume...

The implementation of information and communication technologies has brought about a change in relations between government and citizens, facilitating greater transparency and accountability in the public sector. In recent years, a significant volume of research has been conducted into transparency in public administration, with particular emphasis...

En el actual contexto de crisis, los ciudadanos demandan al sector público mayor transparencia y rendición de cuentas. Este trabajo pretende avanzar en el conocimiento de las prácticas de sostenibilidad en la administración pública. Para ello proponemos comparar la divulgación de información sobre sostenibilidad realizada por distintos gobiernos re...

In governments throughout the world, bank lending excesses, solvency issues and worsening credit ratings have all contributed to raising risk premiums and impeding access to credit, thus provoking a major financial problem in the public sector. Accordingly, tax authorities and regulators need to analyse the causes of public sector bank debt, doing...

In many countries, the economic crisis brought high volumes of deficit and debt in public entities, which jeopardized the ability of governments to continue providing public services and caused considerable imbalances of economic growth in different regions. In this context, from the recognition of the linkage between economic development and effic...

A nivel internacional, el creciente interés de los ciudadanos por las decisiones políticas, junto con la preocupación por los efectos de la crisis económica, han llevado a diferentes organismos internacionales (UE, IFAC, OECD, Grupo Banco Mundial) a considerar la transparencia y la sostenibilidad como dos elementos clave para los gobiernos. Sin emb...

The economic crisis has led international organizations and previous research to point out the need for measuring and controlling financial sustainability in governments. Based on the main international pronouncements, this article seeks to contribute to the measurement and management of the financial sustainability, analysing the income statement...

Developers and managers of websites are key players in conveying the transparency of governments. Although previous research has highlighted the need for further progress in transparency on sustainability, very few studies have considered how websites can better contribute to providing sustainability information. This paper identifies determinant f...

The current international crisis in public finances has made financial sustainability a key issue for governments. Although the European Union (EU) and other international organisations have recommended governments to monitor demographic and economic variables, few studies have considered the influence of these variables on financial sustainability...

Concern has been expressed by international organisations and in previous studies about the financial situation of local governments, and the question of debt has been identified as a crucial element in efforts to overcome the current financial crisis. However, the variables that can affect the financial soundness of these governments have not been...

Although the transparency and sustainability of governments are currently of great interest to researchers, few studies have specifically addressed these issues. Nevertheless, previous research has found sustainability transparency as a key issue in government–citizen relations, especially for local governments (LGs). The aim of this article is to...

Algunos trabajos previos y los pronunciamientos de organismos internacionales (OTAN, GAO) han considerado el coste del ciclo de vida (LCC) como la metodología de selección de inversiones más avanzada para contribuir a la eficiencia del gasto militar, lo que representa una especial oportunidad para los investigadores considerando la obligada austeri...

Previous studies have highlighted the question of government loan interest as one of great current importance. Government borrowing levels are high, and reducing interest payments would generate savings to meet other spending needs and/or to lower taxation, thus supporting the sustainability of public finances. However, no previous study has presen...

This paper examines the sustainability transparency of governments, i.e., the disclosure of information on the sustainability of their actions. To do so, we identify contributory factors to the online disclosure of environmental, social, economic and general information by local governments in Nordic countries. Linear regression analysis was used t...

Public agencies should inform about their behavior in the space of the social responsibility not only to legitimate their existence but also to inform their stakeholders how they are responding to their demands. Web sites are a communication medium appropriate and accessible in this globalized and computerized world. In this context, the object of...

Factors determining online sustainability reporting by local governments Although international organizations and prior literature have recognized the importance of sustainability reporting for governments nowadays, some studies have revealed that this is an issue that has received little attention and thus needs further investigation. This article...

Governmental financial transparency is an essential element in the implementation of policies to overcome the present crisis of public finances. The international financial reporting standards aim to improve governmental transparency and accountability through the use of new accounting models. Based on an international empirical study involving the...

La información por parte de los organismos públicos en el ámbito de la responsabilidad social (rs) es necesaria para legitimar sus actuaciones y dar a conocer a sus grupos de inte-rés cómo están respondiendo a sus demandas. Las páginas web son en este mundo globa-lizado e informatizado un medio de comunicación adecuado y accesible. En este contex-t...

Public agencies should inform about their behavior in the space of the social responsibility not only to legitimate their existence but also to inform their stakeholders how they are responding to their demands. Web sites are a communication medium appropriate and accessible in this globalized and computerized world. In this context, the object of...

International organisations such as the EU, the OECD and the WBG have recommended that governments provide information to citizens about the sustainability of their public policies. Furthermore, previous studies have concluded that while stakeholders are demanding greater transparency from public entities about the sustainability of their actions,...

La transparencia es un elemento esencial en el debate sobre la responsabilidad social (RS) al hacer más visibles los compromisos adquiridos y los resultados obtenidos, aportando así una mayor credibilidad a las organizaciones. En concreto, la difusión de información en el ámbito de la responsabilidad social puede contribuir a legitimar su existenci...

RESUMEN: La transparencia es un elemento esencial en el debate sobre la responsabilidad social (RS) al hacer más visibles los compromisos adquiridos y los resultados obtenidos, aportando así una mayor credibilidad a las organizaciones. En concreto, la difusión de información en el ámbito de la responsabilidad social puede contribuir a legitimar su...

The question of transparency is an essential element in the debate on social Responsibility (sR), as it highlights the commitments that have been acquired and the results obtained by the approach, increasing the credibility levels of the organizations that employ it. in concrete terms, the dissemination of information on sR might contribute to legi...

In the modernization process of the public sector, the advancement of public finance systems of countries can influence on the success of public administration reforms to improve accountability. In recent years, the International Federation of Accountants (IFAC) has issued a series of public sector accounting standards in order to increase the qual...

Although the importance of sustainability reporting in the public sector is widely recognized, there are few studies about this issue. This paper analyzed the practices of diffusion of information on sustainability in local governments. So, we observed the Websites of the largest local governments in Spain using a list of items from the guidelines...

In order to evaluate financial sustainability, public sector managers are being pressured to provide better financial information and information transparency. This article examines the role of accounting in assessing the sustainability of local governments and analyses of the usefulness of annual income statements in the measurement of ‘inter-peri...

Although international organizations and prior literature have recognized the importance of sustainability reporting for governments nowadays, some studies have revealed that this is an issue that has received little attention and thus needs further investigation. This article studies the publication of information on sustainability issues by local...

This paper analyses the practices of disclosure of sustainability information by European local governments, with specific reference to the websites of major European cities, classed as Anglo-Saxon (English-speaking) or Nordic, according to the prevailing administrative culture. The empirical results obtained show that the local governments analyse...

In the present context of international public finance crisis, the analysis of government sustainability is considered of vital importance, and a significant element in this is the accounting measurement of intergenerational equity. The aim of this paper is to identify factors that may influence the financial sustainability of local government, doi...

Although the importance of sustainability reporting in the public sector is widely recognized, there are few studies about this issue. This paper analyzed the practices of diffusion of information on sustainability in local governments. So, we observed the Websites of the largest local governments in Spain using a list of items from the guidelines...

Changes in financial reporting systems are relevant to the usefulness of governmental financial reporting in implementing New Public Management (NPM) reforms. The International Public Sector Accounting Standards, published by the International Federation of Accountants, seeks to improve the financial information reported. The aim of this paper is t...

Budgetary restrictions resulting from the present international economic crisis have tightened the need to improve efficiency in defense spending, leading to the armed forces having to undertake their duties with fewer resources. Previous reports on the subject have looked into the determining factors and effects of military spending but very few s...

La alarmante escasez de recursos que experimentan los gobiernos locales gracias a la crisis mundial ha aumentado el interés de políticos y gestores por la medición de la eficiencia de los servicios prestados. Para poder evaluar el desempeño de las actuaciones públicas, se requiere disponer tanto de información financiera externa como de datos de co...

Analysis of the relations between family events and the demand for housing has, to date, received very little attention from researchers, although there can be no doubt that housing preferences vary with changing personal circumstances. The spectacular growth in the number of single-parent households throughout Europe highlights the timeliness and...

El análisis de las conexiones entre eventos familiares y eventos de vivienda ha recibido hasta ahora muy poca atención por parte de los investigadores, aunque nadie discute que las preferencias de las personas sobre vivienda cambian conforme evoluciona su ciclo vital. El espectacular crecimiento del número de hogares monoparentales en toda Europa j...

A key factor to improve the financial accountability of governments is the existence of a set of generally accepted financial reporting of standards, such as IPSAS issued by the IFAC, which seek to enhance information transparency. This paper examines the capability of fair value accounting to improve, through financial transparency, government acc...

In Spain, a new General Public Accounting Plan has been approved adapting Spanish accounting criteria to the IPSAS issued by the IFAC, which could strengthen the quality of governmental financial information and favour accountability via enhanced financial transparency, the benchmarking analysis and the efficiency of public services. A major issue...

Although life cycle costing (LCC) is internationally considered the best instrument for evaluating investments in military equipment, its practical application remains insufficiently studied. This paper presents an international panorama of systems used for evaluating military investments, identifying the procedures and instruments most commonly em...

Modernizing governments in Transitional and Emerging Economies through financial reporting based on international standards In the administrative reforms that countries with emerging and transitional economies are undertaking, the choice of the method to be used for government accounts evaluation is a crucial issue, as the replacement of historical...

In the administrative reforms that countries with emerging and transitional economies are undertaking, the choice of the method to be used for government accounts evaluation is a crucial issue, as the replacement of historical cost by fair value evaluation could affect the success or otherwise of the administrative reforms in these countries. In th...

Research has shown that defence spending has repercussions on government policies and economic growth. At an international scale these implications, together with current financial difficulties affecting governments, justify the timeliness and interest of studying defence policies from the standpoint of efficiency. Many authors and international bo...

One of the most significant changes affecting family structures in Europe over the last few decades is the remarkable increase in the number of lone-parent families as a result of the dissolution of relationships. Housing is one of the primary needs that arises. Attitudes for coping with the situation are varied and are determined by a number of fa...

Los sistemas contables gubernamentales están desempeñando un papel esencial en el desarrollo de las reformas administrativas, utilizándose como instrumentos para mejorar la Accountability de los gobiernos. El modelo de valoración contable propuesto por las IPSAS pretende aumentar la utilidad de los estados financieros gubernamentales para fomentar...

The governmental accounting systems are playing a crucial role in the development of administrative reforms, to be used as tools to improve the accountability of governments. The accounting valuation model proposed by the IPSAS aims to increase the usefulness of governmental financial statements to enhance financial transparency as a key topic of a...

Uno de los cambios más significativos experimentados por las estructuras familiares en Europa en las últimas décadas lo constituye el notable incremento del número de familias monoparentales como consecuencia de una ruptura de pareja y una de las necesidades primarias con las que se encuentran es la relativa a la vivienda. Las actitudes para afront...

Some international standards have proposed that the fair value approach should be used to evaluate real estate assets. The choice to use this method or another approach could influence the quality of the financial reports published in response to information demands by company stakeholders.In this study,we will examine whether fair value evaluation...

International financial reporting standards seek to enrich governments' financial statements to meet financial information requirements under NPM. This article examines the usefulness of international accounting standards in terms of meeting the information needs for financial accountability, analysing their impact on audits. Changing from historic...

The disclosure practices of Corporate Social Responsibility (CSR) are increasingly used by large companies in order to eliminate information asymmetries between stakeholders. Instead, the disclosure of CSR information for governments is a topic little studied yet, though the demands of citizens are increasing in transparency and accountability. Thi...

Some international standards have proposed that the fair value approach should be used to evaluate real estate assets. The choice to use this method or another approach could influence the quality of the financial reports published in response to information demands by company stakeholders. In this study, we will examine whether fair value evaluati...

The option in the recent Spanish regulation for fair value over historical cost, as the preferred measurement basis for some assets, has raised some controversy. This paper studies the effects on accounting information relevance and reliability of fair value accounting for investment properties. The empirical study is based on a questionnairebased...

The option in the recent Spanish regulation for fair value over historical cost, as the preferred measurement basis for some assets, has raised some controversy. This paper studies the effects on accounting information relevance and reliability of fair value accounting for investment properties. The empirical study is based on a questionnairebased...

Local governments in many countries are implementing administrative reforms within the framework of New Public Management (NPM) in order to improve the quality and productivity of public services. The use of performance indicators and benchmarking facilitates evaluation of efficiency regarding the provision of such services and favours the acquisit...

In recent years, numerous countries have undertaken administrative reforms to implement New Public Management (NPM) postulates. The implementation of NPM involves new information needs for decision taking by public managers. In this context, public sector accounting plays a key role as an information system for the successful implementation of NPM....

International Public Sector Accounting Standards (IPSAS) are an essential quality-control factor for Public Sector Accounting Systems in European Union member states. The compliance of the latter systems with IPSAS could be influenced to a large degree by perceptions of how useful these standards are in enabling the needs of financial information u...

Could fair value accounting be useful, under NPM models, for users of financial information? International Public Sector Accounting Standards (IPSAS) are an essential quality-control factor for Public Sector Accounting Systems in European Union member states. The compliance of the latter systems with IPSAS could be influenced to a large degree by p...

The usefulness of performance indicators increases when organizations compare their data. However, most discussions have failed to emphasize two lines of action that could improve the relevance of such comparisons: a) agreement among service managers on the indicators to be used in the evaluation; b) homogenization of the indicators to be used by o...