Gabriel Penagos

• Doctor of Philosophy
• Professor (Associate) at Pontifical Xavierian University

Purpose The purpose of this paper is to characterize the situation in the Spanish banking industry through the identification of strategic groups based on a set of variables. Design/methodology/approach To do so, the authors use a 13-year data set and a time inhomogeneous hidden Markov model (HMM) in which the time variable transition matrix cap...

This paper elaborates an agent-based model of a pure market economy to provide theoretical evidence on how volatility-induced changes in inter-firm payment networks affect the financial distress of firms. This volatility is driven by ‘animal spirits’ in that it arises from the feelings of optimism/pessimism independently of rational decision-making...

Segmentation studies are crucial for planning sustainability strategies, and tourists' perceptions of destinations offer important segmentation criteria. The aim of this study is to understand and describe the tourist segments with similar levels of perceived destination sustainability and trustworthiness. Perceived sustainability and perceived tru...

Fractions are crucial, from math and science education to daily activities, but they are hard. A puzzling aspect of fractions is that people over-rely on the numerator when comparing a pair of fractions. Previous work has considered this numerator bias mostly as a reasoning mishap. Still, in a vast amount of pairwise comparisons, across many real-w...

Integrated marketing communication (IMC) plays a key role in current marketing communications landscape and further empirical research is called for to examine customer perceived IMC. To fill this gap, this paper examines how customers perceive the IMC of two global brands (Coke and Pepsi). The aim is to shed light on the relationship between custo...

In this study, the authors segment Facebook users based on their responses to brands' ongoing activities, including content relevance, personalization, responsiveness, and user empowerment, alongside user demographics and social media behavior. They examine variations in electronic word-of-mouth (eWOM) and purchase intentions across four distinct u...

Purpose In recent decades, higher education institutions (HEIs) have increasingly adopted marketing-oriented approaches. While the adoption of marketing was slower in Europe and Spain, it has become a vital tool for HEIs, both to stay competitive in a changing socio-economic context and to face the challenges posed by the transition to the Universi...

Environmental degradation, extreme poverty, and other ills humanity faces are unacceptable for modern society. Significant advances have been made in the last century, but there remain challenges to reaching a world where the promises of sustainable development are a reality. In this chapter, we share the story of the Finance Group, a small and div...

Innovation is crucial for companies to stay competitive, provide value to customers, and generate profits. Likewise, research and development (R&D) is critical for companies to sustain productivity growth. Spain has lagged behind other countries in terms of R&D investment, with only 1.4% of its GDP allocated to R&D, well below the European average....

Gaining more insights on how R&D&i subsidies are allocated is highly relevant for companies and policymakers. This article provides new evidence of the identification of some key drivers for companies participating in R&D&i project selection processes. It extends the existing literature by providing insight based on sophisticated, accurate methodol...

Purpose. The purpose of this study is to examine the internal consistency of wine guides by comparing the judgements of experts who taste and review wines. It further classifies the wines into categories to establish whether expert reviews of similar wines are coherent. Design/methodology/approach. Sentiment analysis based on natural language proc...

Negative numbers are central in math. However, they are abstract, hard to learn, and manipulated slower than positive numbers regardless of math ability. It suggests that confidence, namely the post-decision estimate of being correct, should be lower than positives. We asked participants to pick the larger single-digit numeral in a pair and collect...

Purpose One of the main difficulties for wine managers is understanding and interpreting how some strategies and company behaviours could affect firms’ performance. This study aims to contribute to improve these concerns by examining the evolution of the competitive wine industry structure over time using the strategic group membership dynamics app...

Negative numbers are central in math. However, they are abstract, hard to learn, and manipulated slower than positive numbers regardless of math ability. It suggests that confidence, namely the post-decision estimate of being correct, should be lower than positives. We asked participants to pick the larger single-digit numeral in a pair and collect...

Weather-related hazards generate unfortunate risks, especially for low-income economies, such as populations dependent on agriculture. Index insurance offers structural advantages compared with conventional insurance, including moral hazard, adverse selection, and systemic risk. It also represents a promising financial tool because of its potential...

Fractions are crucial, from math and science education to daily activities, but they are hard. A puzzling aspect is that people over-rely on the numerator when comparing a pair of fractions. Here we test if numerator-driven behavior is an adaptive response. In a behavioral experiment, we found that the numerator bias changes according to the probab...