Manuel Ángel Fernández-Gámez

• Professor
• Professor (Associate) at University of Malaga

Investment in foreign countries has become more common nowadays and this implies that there may be risks inherent to these investments, being the sovereign risk premium the measure of such risk. Many studies have examined the behaviour of the sovereign risk premium, nevertheless, there are limitations to the current models and the literature calls...

A properly performing and efficient bond market is widely considered important for the smooth functioning of trading systems in general. An important feature of the bond market for investors is its liquidity. High-frequency trading employs sophisticated algorithms to explore numerous markets, such as fixed-income markets. In this trading, transacti...

The foreign exchange markets, renowned as the largest financial markets globally, also stand out as one of the most intricate due to their substantial volatility, nonlinearity, and irregular nature. Owing to these challenging attributes, various research endeavors have been undertaken to effectively forecast future currency prices in foreign exchan...

Purpose This study aimed to assess whether sociodemographic variables explain significant differences in attitudes towards transforming academic conferences into more sustainable events. Design/methodology/approach An analytical model of participants' attitudes towards sustainable conferences based on literature review as well as the theories of r...

A sovereign bond market offers a wide range of opportunities for public and private sector financing and has drawn the interest of both scholars and professionals as they are the main instrument of most fixed-income asset markets. Numerous works have studied the behavior of sovereign bonds at the microeconomic level, given that a domestic securitie...

A fast and precise prediction of stock market crashes is an important aspect of economic growth, fiscal and monetary systems because it facilitates the government in the application of suitable policies. Many works have examined the behavior of the fall of stock markets and have built models to predict them. Nevertheless, there are limitations to t...

This study presents a dynamic model for the management of a cruise port, simulating the behavior of the system under different scenarios for the period 2015–2025. The proposed management system considers the factors that determine the demand and supply of cruise passengers and the existing relationships between them, which has allowed simulations t...

Precise macroeconomic forecasting is one of the major aims of economic analysis because it facilitates a timely assessment of future economic conditions and can be used for monetary, fiscal, and economic policy purposes. Numerous works have studied the behavior of the macroeconomic situation and have developed models to forecast them. However, the...

Previous literature has focused on identifying the behavioural intentions of the cruise passengers in the ports of call. Nevertheless, there is no prior experience in the senior passenger segment. The present study tries to verify hypotheses about the effects of the cruise passenger’s age regarding the intention to revisit and the intention of reco...

This study sought to contribute to the existing knowledge of consumer psychology regarding senior tourism in cultural destinations by improving the existing understanding of seniors’ motivations and related psychological processes. The research objectives were to outline a model of senior tourists’ push and pull motivations, which includes their em...

Sovereign debt and currencies play an increasingly influential role in the development of any country, given the need to obtain financing and establish international relations. A recurring theme in the literature on financial crises has been the prediction of sovereign debt and currency crises due to their extreme importance in international econom...

Studies on financial behavior indicate that emotional intelligence (EI) and personality traits (PTs) explain much of the bias in financial activity. This study aims to identify in which dimensions of theEI and PTs of university students in finance further training is needed to avoid financial behavior bias. To this end, the EI and PT levels of a sa...

In recent years, the number of sharing economy accommodations has grown exponentially due to the Internet and peer-to-peer networks, which has made researchers increasingly interested in analysing this new type of lodging. This study sought to develop models that determine the significant variables for the daily price of staying in holiday rentals...

Corporate reputation enhancement in the restaurant industry has recently been increasingly driven by the central importance of consumer review websites and customers’ greater awareness of sustainable practices regarding health and the environment. In this context, the research question of the present study was if there is a relationship between hea...

The financial performance of football clubs has become an essential element to ensure the solvency and viability of the club over time. For this, both the theory and the practical and regulatory evidence show the need to study financial factors, as well as sports and corporate factors to analyze the possible flow of income and for good management o...

Foreign exchange reserves are used by governments to balance international payments and make stable the exchange rate. Numerous works have developed models to predict foreign exchange reserves; however, the existing models have limitations and the literature demands more research on the subject given that the accuracy of the models is still poor, a...

This paper analyses the “strategic philanthropy” proposal, made by professors Porter and Kramer, according to which, a company’s social responsibility must lead to the agreement between social benefit and economic benefit. The company intentionally identifies the key areas in which the community and shareholders’ interests are related so they can t...

A precise prediction of Bitcoin price is an important aspect of digital financial markets because it improves the valuation of an asset belonging to a decentralized control market. Numerous studies have studied the accuracy of models from a set of factors. Hence, previous literature shows how models for the prediction of Bitcoin suffer from poor pe...

The literature on the inclusion of students with disabilities in the university setting highlights the great importance of the faculty’s willingness to provide quality accommodations. However, current studies offer only an initial analysis of the factors explaining these accommodations. Current research requires the analysis of new actions that wil...

Using logistic regression technique and Deep Recurrent Convolutional Neural Network, this study seeks to improve the capacity of existing bankruptcy prediction models for the restaurant industry. In addition, we have verified, in the review of existing literature, the gap in the research of restaurant bankruptcy models with sufficient time in advan...

In this study, we investigated the relationships between created shared value (CSV) strategies and online reputation (OR) within the hotel industry. Our results show that CSV strategies improve hotel OR assigned by clients participating in consumer review Websites. Our findings fundamentally indicate that the relationship between CSV and OR in the...

Previous literature has analysed the effects of establishment regressors on different measures of restaurant financial performance [1,2]. However, as [3] stated, these studies have focused on the analysis at establishment level rather than at corporate level. Determining the factors that explain the restaurant profitability is not only an important...

Capital flows is an important aspect of the international monetary system because they provide great direct and indirect benefits, and at the same time, they carry risks of vulnerability for countries with an open economy. Numerous works have studied the behavior of these flows and have developed models to predict sudden stop events. However, the e...

Dynamic Stochastic General Equilibrium (DSGE) models allow for probabilistic estimations with the aim of formulating macroeconomic policies and monitoring them. In this study, we propose to apply the Sequential Monte Carlo Multilevel algorithm and Approximate Bayesian Computation (MLSMC-ABC) to increase the robustness of DSGE models built for small...

The study of financial distress has been the focus of financial research in recent decades and has led to the development of models for predicting financial distress that help assess the financial situation and the risks faced by companies. These models have focused exclusively on industrial and financial companies. However, a specific model that r...

Featured Application The superiority of a novel computational technique (deep neural decision trees) for prediction of currency crises over other methodologies and the construction of new crisis prediction models more precise than existing ones. Abstract Currency crises are major events in the international monetary system. They affect the monetar...

Dear Colleagues, We kindly invite you to submit your papers to this Special Issue before 30 September 2020. Tourism innovation is a research topic which is gaining increasing relevance since more than a decade (Hall, 2009; Paget, Dimanche, & Mounet, 2010; Martínez-Román, Tamayo, Gamero & Romero, 2015). However, it is a broad topic that needs more...

A small number of studies have been carried out to build models with which to predict the results of the insolvency proceedings. In addition, there are no models that have demonstrated a high predictive capacity for all situations in which such legal processes can end. The proposal of this study is the construction of a multi-class model that predi...

This study tried to improve the understanding of the impact of context variables on the risk of financial difficulties from an European companies experience. To this end, a multilevel logistic model is developed to exploit the benefits of transnational analysis and to examine the effects of contextual factors in countries and the individual impacts...

Este trabajo analiza el sector del alquiler turístico a extranjeros que efectúan personas físicas en el municipio de Playa de La Habana (Cuba), así como el efecto del mismo en las valoraciones emitidas por los clientes internacionales. Los datos provienen de una muestra de 100 emprendedores y de un muestreo no probabilístico para 184 clientes inter...

The aim of this work is to propose a new operating model to evaluate municipalities’ financial distress, based on the analysis of experts and the synergies between the variables that are evaluated in the process. For such purpose, the methodology of decision-making in multi-criteria group will be used, which is implemented by combining the hierarch...

El objetivo de este estudio es conocer qué factores exógenos condicionan la eficiencia de los municipios con una marcada orientación turística. Este estudio es una de las pocas publicaciones basadas en la eficiencia de municipios turísticos. A diferencia de la mayoría de las investigaciones que evalúan la eficiencia municipal en general, se cree qu...

Literature has dealt with prediction of corporate bankruptcy since some decades ago, building classification methods to predict financial firm failure in different industries, countries and regions. However, and although the previous research is profuse, no paper in this literature has developed specific models for family firms. Family firms repres...

Recent tourism studies have shown that cruise passengers´ intention can be used as a tool to evaluate the sustainability of port of call destination. However, studies on this topic remain scarce and only offer an initial conceptualization of this issue. Hoping to help fill this void, the present research proposes a robust model for the analysis of...

The current literature on sustainable practices shows that social missions and economic achievement can be compatible. However, very few studies have offered a quantitative perspective on this relationship. This study presents the first empirical evidence of the effects of the creating shared value (CSV) principle on the performance of companies. U...

Competitive intelligence (CI) is a business tool within strategic management, and it is gaining significance as a process that enables companies to achieve sustainable competitive advantage. This study explores the current state of CI in the Spanish hotel industry. For this purpose, a path model has been developed which empirically investigates the...

Among the most recognized management training methodologies is experiential learning which helps managers to develop self-confidence and better understand organizational problems. Until now, there has not being examined how these procedures affect students of Business Management, with no empirical evidence to substantiate the results in this contex...

An important issue frequently assessed by investors is the quality of reported financial information. Recent research suggests a relationship between corporate reputation (CR) and the quality of reported information. This paper examines the association between CR and earnings quality of the firms operating in a European market. We use a two-stage m...

[This corrects the article DOI: 10.1371/journal.pone.0166693.].

Using financial information from Spanish companies belonging to different economic sectors, this study has developed focused and unfocused models for bankruptcy prediction. The comparison of both types of models has allowed us to determine the superiority of unfocused models, which in most cases show a great predictive capacity and reduce the elabo...

The accounting principle of going concern has been the focus of attention of financial research in recent decades, and has led to the development of models of prediction of audit opinions qualified by going concern that help to assess the continuity of business. These models have focused exclusively on industrial and financial companies. However, a...

Data mining techniques are capable of extracting valuable knowledge from large and variable databases. This work proposes a data mining method for municipal financial distress prediction. Using a new proxy of municipal financial situation and a sample of 128 Spanish municipalities, the empirical experiment obtained satisfactory results, which testi...

The prediction of qualifications for going concern has been the focus of attention of the accounting and financial research with the purpose of creating models that help auditors to assess the normal course of business. Previous studies about going concern opinion prediction have been developed exclusively for manufacture and financial companies. H...

Hoy nadie duda de que el estado de flujos de efectivo (EFE) es una herramienta de gran utilidad para la gestión de la empresa, y por ello aquellos capaces de elaborarlo e interpretarlo adecuadamente tendrán la oportunidad de ser más competentes en el desempeño de su labor y en la toma de decisiones en el ámbito empresarial (inversores, entidades fi...

El aprendizaje del Plan General de Contabilidad (PGC) es una tarea que a veces puede resultar compleja para los estudiantes o los profesionales que quieren iniciarse en este procedimiento contable. De ahí la necesidad de contar con materiales didácticos que sean prácticos y que expliquen de una forma clara pero rigurosa los conceptos y el mecanismo...

El aprendizaje del Plan General de Contabilidad (PGC) es una tarea que a veces puede resultar compleja para los estudiantes o los profesionales que quieren iniciarse en este procedimiento contable. De ahí la necesidad de contar con materiales didácticos que sean prácticos y que expliquen de una forma clara pero rigurosa los conceptos y el mecanismo...

Abstract The objective of this work is to identify those business behaviors that are able to create greater worker satisfaction in the performance of the worker’s professional activity, and the consequent impact on personal happiness. Likewise, it aims to understand the perceptions that employees have of their work environment and the influence the...

Online reputation is nowadays particularly significant in the context of hotel firms due to the high sensitivity and enormous influence of electronic word-of-mouth activities of customers. Since there is still no clear set of online reputation-generating factors, the aim of this paper is to contribute to this knowledge considering the role of famil...

The recent world financial crisis has increased the number of bankruptcies in numerous countries and has resulted in a new area of research which responds to the need to predict this phenomenon, not only at the level of individual countries, but also at a global level, offering explanations of the common characteristics shared by the affected compa...

Asiat1. Variables of bankrupt/non-bankrupt Asian firms in t-1. (XLSX)

Asiat2. Variables of bankrupt/non-bankrupt Asian firms in t-2. (XLSX)

Data Sheet. Variables description according to S&P’s COMPUSTAT information. (PDF)

Globalt1. Variables of bankrupt/non-bankrupt Global firms in t-1. (XLSX)

Europet2. Variables of bankrupt/non-bankrupt European firms in t-2. (XLSX)

North Americat1. Variables of bankrupt/non-bankrupt North American firms in t-1. (XLSX)

Read me. Source Information. (TXT)

Asiat3. Variables of bankrupt/non-bankrupt Asian firms in t-3. (XLSX)

Europet3. Variables of bankrupt/non-bankrupt European firms in t-3. (XLSX)

Globalt2. Variables of bankrupt/non-bankrupt Global firms in t-2. (XLSX)

North Americat3. Variables of bankrupt/non-bankrupt North American firms in t-3. (XLSX)

Europet1. Variables of bankrupt/non-bankrupt European firms in t-1. (XLSX)

Globalt3. Variables of bankrupt/non-bankrupt Global firms in t-3. (XLSX)

North Americat2. Variables of bankrupt/non-bankrupt North American firms in t-2. (XLSX)

Using a probabilistic neural network and a set of financial and nonfinancial variables, this study seeks to improve the ability of the existing bankruptcy prediction models in the hotel industry. Our aim is to construct a hotel bankruptcy prediction model that provides high accuracy, using information sufficiently distant from the bankruptcy situat...

Using a probabilistic neural network and a set of financial and non-financial variables, this study seeks to improve the ability of the existing bankruptcy prediction models in the hotel industry. Our aim is to construct a hotel bankruptcy prediction model that provides high accuracy, using information sufficiently distant from the bankruptcy situa...

Corporate Reputation (CR) is a critical intangible asset for a firm. As a representation of its past actions and results, CR encompasses a number of features which conform the status of a firm regarding its competitors. This helps corporations not only to gain competitive advantages, but also to survive in times of economic turbulences. Despite its...

Prior studies have contributed to the development of models that help predict audit opinions, and have applied several methodologies in the search of better predictions. Nevertheless, and even though the existing literature on the prediction of audit opinions is profuse, the results achieved by the existing modelling are still considerably far from...

Nowadays, one of the roles of universities is the promotion of entrepreneurship, particularly, among students. Research on entrepreneurship at an individual level of analysis focuses on the personal characteristics and the entrepreneurial attitude that stimulate its development, studying the factors affecting that some individuals discover and expl...

Using data envelopment analysis, this paper investigates operational efficiency drivers for 166 Spanish hotels divided into medium and upper chain scale groups from 2000 through 2009. For the sample as a whole, the analysis indicated a strong relationship between quality levels and efficiency; resort hotels were more efficient than other types of p...