Pedro Lorca

• PhD
• University of Oviedo

The paper aims to explore how the synergy of financial technology (FinTech) with big data analytics (BDA) has dramatically reshaped the investment landscape, opening unprecedented pathways to re-imagine the future of sustainable finance in the post-COVID-19 world. This convergence has disrupted conventional financial norms by enabling cutting-edge...

Resumen. En el presente trabajo se hace un estudio sobre el proceso de aprobación y adopción del Plan General de Contabilidad de 1973 con la perspectiva del paso de los años. No se puede entender por qué los trabajos de elaboración del Plan se dilataron en el tiempo y por qué se optó por un modelo de aplicación facultativa sin atender al contexto d...

Despite the spread and progress in the literature related to the disclosure of corporate social responsibility (CSR) performance around the world as one of the most essential tools for achieving sustainable development in society, its value relevance is still uncertain. Using a survey approach involving investors dealing in stocks of 60 enterprises...

The use of smart contracts has grown exponentially over the last few years. This is a phenomenon associated with the development of other technologies, such as the blockchain and the Internet of Things (IoT). Smart contracts run in a decentralized way on the blockchain and are self- executing. This is a source of advantages in business operations,...

E-commerce has grown significantly in recent years. Although the factors that contribute to the implementation of e-commerce have been studied in prior literature, little has been done about the impact that the introduction of e-commerce has on both profitability and revenue. This is important because, as Solow (1987) points out, the information te...

Research and development (R&D) investments are a key issue for companies. In an increasingly competitive economy, R&D can be a source of competitive advantage. Therefore, a profuse research line on the reasons that can motivate firms for R&D investment has emerged. Theoretical frameworks include the resource-based theory, the creative destruction m...

Estimation of effort costs is an important task for the management of software development projects. Researchers have followed two approaches –namely, statistical/machine-learning and theory-based– which explicitly rely on mean/median regression lines in order to model the relationship between software size and effort. Those approaches share a comm...

This research assesses whether universities from varied cultures rank significantly different with respect to the quality of their web contents and with regard to their web accessibility (WA) level. Moreover, this article tests whether universities, which make stronger efforts to improve the quality of their web contents, also take into account WA...

A variety of models for the prediction of effort costs in software projects have been developed, including some that are specific for Web applications. In this research we tried to determine if the use of specific models is justified by comparing the cost behavior of Web and noWeb projects. We focused on two aspects of the cost calculation: the dis...

Web Accessibility (WA) is an attribute that must be taken increasingly into account in the design of websites. In this paper we assess on whether the drivers of more accessible online information differ among banks using a structural equation modelling approach. It is concluded that Web Accessibility (WA) implementation is an important and affordab...

Existen multitud de modelos propuestos para la predicción de co stes en proyectos de software, al gunos orientados específicamen te para proyectos Web. Este trabajo analiza si los modelos específicos para proyectos Web están justifi cados, examinando el comportami ento diferencial de los costes entre proyectos de desarrollo softwar e Web y no Web....

An improved classification device for bankruptcy forecasting is proposed. The proposed approach relies on mainstream classifiers whose inputs are obtained from a so-called multinorm analysis, instead of traditional indicators such as the ROA ratio and other accounting ratios. A battery of industry norms (computed by using nonparametric quantile reg...

Abstract: In the present paper we try to analyse whether gender affects business growth. Previous literature shows that there is no consensus about the influence of the presence of women in management positions on business performance. However, most papers have focused on large companies despite the presence of female managers is higher in small an...

This paper proposes a new approach to the forecasting of firms’ bankruptcy. Our proposal is a hybrid method in which sound companies are divided in clusters using Self Organized Maps (SOM) and then each cluster is replaced by a director vector which summarizes all of them. Once the companies in clusters have been replaced by director vectors, we es...

In this paper we address the bankruptcy prediction problem and outline a procedure to improve the performance of standard classifiers. Our proposal replaces traditional indicators (accounting ratios) with the output of a so-called multinorm analysis. The deviations of each firm from a battery of industry norms (computed by nonparametric quantile re...

This paper aims to analyse the incidence of the implementation of ERP systems on the profitability of the biggest Spanish firms. To reach this objective, we sent a questionnaire to a sample of companies. We also gathered the financial statements of these companies. The main results indicate a significant decrement in the profitability of the compan...

This paper reviews some recent developments from the field of Artificial Intelligence aimed at the determination of credit scores of firms and individuals. Specifically, the academic research efforts which are reviewed are those that consist of hybrid systems. These systems combine two or more intelligent techniques in several forms to derive the a...

Web accessibility (WA) is an innovation in Web design; it can be considered as part of the corporate social responsibility (CSR) strategy of the firms. As adoption of innovations and CSR commitment are linked with firm size and national culture/legislation, we hypothesize that size and national culture/legislation, may have an effect on WA level. T...

The present article aims to assess, from a dynamic viewpoint, the influence on the decision to implement an ERP system in Spanish companies of two key characteristics of adopters: prior performance and managers' independence. The main results indicate that the importance of those factors greatly depended on the moment of the implementation. Moreove...

During the last years, hybrid models have proven to be a promising approach for the design of classification systems for the forecasting of bankruptcy. In the present research we propose a hybrid system which combines fuzzy clustering and MARS. Both models are especially suitable for the bankruptcy prediction problem, due to their theoretical advan...

This paper proposes a hybrid approach to the forecasting of firms’ bankruptcy of Spanish enterprises from the construction sector. Our proposal starts splitting the group of healthy companies into two subgroups: borderline and non-borderline companies. Borderline companies are healthy companies with marked financial similarities with bankrupt ones....

This paper proposes an improved approach to the assessment of firms' solvency. First, sound companies are classified into clusters according to their financial similarities by using Kohonen's Self Organizing Maps (SOM). Then, each cluster is replaced by a director vector which summarizes all the companies that the cluster includes. The next step is...

Pese al cada vez más creciente empuje de las fundaciones, el sector fundacional es hoy en día objeto de un reducido estudio. En el ámbito contable, existen cuestiones que exigen un estudio en profundidad, máxime tras la aprobación del PGC-2007. En concreto, la determinación del cálculo del destino de rentas se hace especialmente compleja a la luz d...

Artificial neural networks have proven to be useful tools for solving financial analysis problems such as financial distress prediction and audit risk assessment. In this paper we focus on the performance of robust (least absolute deviation-based) neural networks on measuring liquidity of firms. The problem of learning the bivariate relationship b...

Purpose This paper aims to identify the factors influencing the implementation of web accessibility. Design/methodology/approach Following the theoretical framework three hypotheses were developed. The database consisted of 108 non‐financial firms listed in the Dow Jones Industrial, CAC‐40, DAX and IBEX35 indexes. A multivariate regression equatio...

El presente trabajo se inserta dentro del estudio de los cambios introducidos como consecuencia del nuevo Espacio Europeo de Educación Superior (EEES). En concreto, se analiza el papel del Programa de Acción Tutorial desde la perspectiva de profesores y alumnos. Para ello, se ha tomado la experiencia del Programa profesor-tutor de la Escuela Univer...

This article aims at identifying the factors influencing the implementation of Web accessibility (WA) by European banks and its effects on the visibility through the Internet. We studied a database made up of 51 European banks whose shares are included in the Dow Jones EURO STOXX® TMI Banks [8300] Index. Regarding the factors for the implementation...

Ratios used in financial analysis suffer from several drawbacks, and the tools – ranging from linear least-squares regressions to neural networks – suggested as alternatives also have serious disadvantages. We propose an alternative approach, based on quantile regression techniques, which exploits financial information in a more efficient way, not...

This chapter aims to determine the factors influencing the decision of implementing an ERP system in a country where technology awareness and the technological development are not as high as those of some others. Firstly, the authors assume that adopters make rational choices but the authors also introduce an alternative innovation model based on t...

Quantile regression models are examined from the standpoint of their suitability to analyse company profitability. Some linear and non-linear ("B"-spline) structures are proposed. Linear conditional quantile models provide an intuitive framework which permits conventional statistical inference tools to be applied. Non-parametric spline-based quanti...

En el presente trabajo se construye un modelo para la determinación de los factores influyentes en la rentabilidad futura de una empresa a través de un enfoque basado en preferencias. Con este planteamiento se consiguen superar las limitaciones de los modelos de regresión y de los sistemas de clasificación. Los resultados obtenidos en una muestra d...

In this paper we estimate a model for the determination of the factors influencing the future profitability of a firm. We use a preference-based machine learning system. Under this approach it is possible to overcome the drawbacks of regression models and classification techniques. The main results estimated from a database of 1.745 firms indicate...

The performance of robust artificial neural network models in learning bivariate relationships between accounting magnitudes is assessed in this paper. Predictive performances of a number of modeling paradigms (namely, linear models, log-linear structures, classical ratios and artificial neural networks) are compared with regard to the problem of m...

RESUMEN En este trabajo se analiza la incidencia de la implantación de los sistemas ERP (Enterprise Resource Planning) sobre un conjunto de 17 variables económico-financieras a lo largo del tiempo. A través de una encuesta realizada entre las grandes empresas españolas se ha formado una base de datos integrada por 66 empresas. Tomando como referenc...

En el presente trabajo se construye un modelo para la determinación de los factores influyentes en la rentabilidad futura de una empresa a través de un enfoque basado en preferencias. Con este planteamiento se consiguen superar las limitaciones de los modelos de regresión y de los sistemas de clasificación. Los resultados obtenidos en una muestra d...

The performance of robust artificial neural network models in learning bivariate relationships between accounting magnitudes is assessed in this paper. Predictive performances of a number of modelling paradigms (namely, linear models, log-linear structures, classical ratios and artificial neural networks) are compared with regard to the problem of...

A comparative study of the performance of a number of classificatory devices, both parametric (LDA and Logit) and non-parametric (perceptron neural nets and fuzzy-rule-based classifiers) is conducted, and a Monte Carlo simulation-based approach is used in order to measure the average effects of sample size variations on the predictive performance o...

Pese a que la revelación del desglose de la cifra de negocios es obligatoria para las empresas españolas existen vías para evitarla. De este modo se convierte en una información voluntaria por parte de las empresas. En el presente trabajo se investiga en qué aspectos pueden incentivar a las empresas cotizadas en el mercado continuo español a revela...

El presente trabajo se inserta en una línea de investigación que ha sido objeto de gran interés por la literatura económica, como es la revelación de información voluntaria por parte de la empresa. En concreto, se analiza la incidencia que tiene el tamaño empresarial y el sector de actividad sobre la revelación del desglose de la cifra de negocios,...

CONTENIDO:El desarrollo de las redes de telecomunicaciones para el suministro de la información contable, crearon la necesidad de contar con una estandarización que facilite el procesamiento automático de datos. Surgió así un vocabulario basado en el estándar XML, el extensible Business Reporting Language -XBRL- cuya expansión ha sido vertiginosa....

In recent years, researchers in the field of Artificial Intelligence have developed a learning technique, namely, preference learning, that is suitable to be used for economic analysis. The present research empirically tests one of these models, which consists of a combination of LACE and RFE algorithms. The problem of forecasting the profitability...

Este trabajo ha sido seleccionado y ha obtenido el Accésit Especial Premio Estudios Financieros 2003 en la Modalidad de contabilidad y administración de empresas. El presente trabajo hace un repaso de las razones que están motivando la sustitución del coste histórico por el fair value. Para ello, en primer lugar se detiene en los problemas que pres...

A comparative, simulation-based study of the performance of a number of classificatory devices, both parametric (LDA and Logit) and non-parametric (perceptron neural nets and fuzzy-rule-based classifiers) is conducted. The paper uses as a benchmark the problem of forecasting the level of efficiency of Spanish commercial and industrial companies upo...

RESUMEN En el presente trabajo se indaga acerca de los factores que motivan a una empresa a elegir un criterio concreto, de entre las distintas alternativas posibles para la valoración de existencias. En primer lugar, y tras una revisión de la normativa y pronunciamientos sobre el tema, se exponen las causas que a priori pueden tener influencia en...

Una vía para incrementar el desarrollo económico de los países es la colaboración entre ellos, de ahí que hayan surgido numerosos proyectos de integración económica. Los países de África, que son de los menos desarrollados, no han sido ajenos a este proceso. Uno de los primeros aspectos para facilitar la actividad de las empresas que quieran operar...

A comparative analysis of the performance of some well-known classificationtechniques (Discriminant Analysis, Quinlan’s See5, and Neural Networks) and certain machinelearning systems of recent development (ARNI, FAN and SVM) is conducted. The chosenclassification task is the forecasting of the level of efficiency of Spanish commercial andindustrial...

Accésit Premio Estudios Financieros 2001 Durante los últimos años uno de los pilares más sólidos de la Contabilidad, el coste histórico, ha comenzado a ser sustituido por el valor razonable. Desde un punto de vista teórico, el empleo de este criterio se justifica por lo menos para ciertas partidas financieras del balance. El fair value no se queda...

1. La acción tutorial El principal objetivo del proceso de Bolonia es llevar a cabo una profunda reforma del sistema universitario en Europa, teniendo en cuenta principios de calidad, movilidad, diversidad, equidad y competitividad. En este sentido, las universidades europeas dispondrán de un sistema que asegure unas exigencias comunes de calidad d...

El presente trabajo tiene como finalidad estudiar cómo conseguir avanzar en la investigación empírica en esta disciplina, a la luz de los principales problemas con que se encuentra la contabilidad de gestión. Para ello se ha procedido a identificar las áreas de conflicto más importantes agrupándolas en tres categorías: marco teórico, verificación d...