Miguel Angel Arino Martin
@iese.edu
Department of Decision Analysis
IESE Business School
RESEARCH, TEACHING, or OTHER INTERESTS
Decision Sciences, General Decision Sciences
Scopus Publications
Scopus Publications
Inés Alegre and Miguel Ángel Ariño
Springer International Publishing
David Pastoriza, Miguel A. Arino, Joan E. Ricart, and Miguel A. Canela
Springer Science and Business Media LLC
Silvia Ayuso, Miguel A. Rodríguez, Roberto García-Castro, and Miguel A. Ariño
SAGE Publications
This article makes two related contributions to stakeholder theory and corporate governance theory. First, the authors seek to advance firm-level characterization of the emerging stakeholder model of corporate governance by analyzing two relevant dimensions of this model: the corporate social responsibility (CSR) function at the board level and stakeholder engagement. Second, the authors intend to examine the relationship between conformance to the stakeholder model of corporate governance and firm financial performance, taking into account the differences between countries, by using an international sample of large companies. The findings suggest that the traditional distinction between shareholder-centered and stakeholder-centered corporate governance systems also has importance for the CSR strategy.
David Pastoriza and Miguel A. Ariño
Springer Science and Business Media LLC
Roberto García-Castro, Ruth V. Aguilera, and Miguel A. Ariño
Wiley
Manuscript Type: Empirical exploration of theory-informed propositions. Research Question/Issue: We explore how the combinations of firm-level corporate governance (CG) practices embedded in different governance national systems lead to high firm performance. Research Findings/Insights: Using fuzzy set/Qualitative Comparative Analysis, we uncover a variety of findings. First, we show that within each of the stylized national CG models, there are multiple bundles of firm-level governance practices leading to high firm performance (i.e., equifinality). Second, we provide evidence of complementarity as well as functional equivalence between CG practices. Finally, we demonstrate that there can be heterogeneity (“differences in kind”) in firm governance practices within each stylized model of CG. Theoretical/Academic Implications: We build on the configurational and complementarity-based approaches to make the following theoretical claims. First, governance practices within firm bundles do not always relate to each other in a monotonic and cumulative fashion as this entails higher costs and possibly over-governance. Second, practices in bundles do not need to be aligned towards the insider or the outsider model (similar in kind). We argue that non-aligned practices can also be complementary, creating hybrid governance forms. Third, we predict functional equivalence across bundles of CG practices which grants firms agency on which of the practices to implement in order to achieve high performance. Practitioner/Policy Implications: We contribute to comparative CG research by demonstrating that there are multiple governance paths leading to high firm performance, and that these practices do not always belong to the same national governance tradition. Therefore, our findings alert of the perils of ‘one size fits all’ governance solutions when designing and implementing CG policies.
Silvia Ayuso, Miguel Ángel Rodríguez, Roberto García‐Castro, and Miguel Ángel Ariño
Emerald
PurposeThe purpose of this paper is to focus on the contribution of stakeholder engagement to firms' innovation orientation within the context of sustainable development. It investigates whether engagement with different stakeholders promotes sustainable innovation.Design/methodology/approachThe empirical analysis is based on an international sample of 656 large companies, drawn from the annual assessment for the Dow Jones Sustainability Indexes. A logistic regression analysis was performed in order to test the hypothesized relationships between stakeholder interaction, knowledge management and sustainable innovation orientation.FindingsEmpirical results showed that knowledge sourced from engagement with internal and external stakeholders contributes to a firm's sustainable innovation orientation, but that this knowledge has to be managed by the firm internally in order to be converted into new ideas for innovation.Research limitations/implicationsSince the present study represents one of the first attempts to characterize stakeholder‐driven innovation in a quantitative way, there are some limitations related to the used database that should be addressed in future research.Practical implicationsThe results show the importance for companies of connecting the business functions of stakeholder engagement and innovation, and find flexible mechanisms to combine access and transformation of relevant stakeholder information.Originality/valueThe main contribution of the present research is to prove quantitatively that engagement with different stakeholders is a valid mechanism for promoting sustainable innovation within firms. This is done with a unique dataset, the SAM Group database. In addition, the present study will advance understanding on firm's sustainable innovation processes by framing this phenomenon as an organizational capability.
Roberto Garcia-Castro, Miguel A. Ariño, and Miguel A. Canela
SAGE Publications
The stakeholder view of the firm has been justified under instrumental and normative bases. Whereas the instrumental basis argues that “enlightened stakeholder management” is a necessary precondition to seek shareholders’ value maximization, the normative basis relies on the observance of ethical norms by managers and the notion that the stakeholders should be treated as “ends.” Some scholars argue that both views actually converge. However, this article provides empirical evidence of the negative effects of stakeholder management in shareholders’ value in the short run and the positive effects over the long run, using a longitudinal database of 658 U.S. firms. Given the difficulties of anticipating the instrumental long-term financial effects of short-run decisions affecting the different stakeholders, the authors’ findings support the view of the normative basis for stakeholder theory based on ethics, norms, and heuristic criteria as a way to solve conflicts among the claims of different stakeholders.
Franz H. Heukamp and Miguel A. Ariño
Springer Science and Business Media LLC
Roberto Garcia-Castro, Miguel A. Ariño, and Miguel A. Canela
Springer Science and Business Media LLC
David Pastoriza, Miguel A. Ariño, and Joan E. Ricart
Springer Science and Business Media LLC
Miguel A. Ariño, Africa Ariño, and Roberto Garcia-Castro
Wiley
In this paper we present a model to evaluate transient industry effects, that is, the impact of business cycles on the industry. While the importance of the economic cycle for industry and firm performance is widely recognized, we do not know much about how much the business cycle influences industry activity. The aim of this paper is to present a method that helps to understand the relationship between the business cycle and an industry's level of activity. Copyright © 2008 John Wiley & Sons, Ltd.
David Pastoriza, Miguel A. Ariño, and Joan E. Ricart
Springer Science and Business Media LLC
DAVID PASTORIZA, MIGUEL ARIÑO, and JOAN ENRIC RICART
Academy of Management
This paper studies the influence of supportive managerial behaviour and the organizational context of the firm on the creation of organizational social capital. Both antecedents arise as influential drivers of social capital. Moreover, the organizational social capital impact on firm's financial performance is confirmed. Data from 36 international business units supported our hypotheses.
Miguel A. Ariño and Francesc Marmol
Elsevier BV
Miguel A. Ariño and Philip Hans Franses
Elsevier BV
Miguel A. Ariño and Paul Newbold
Elsevier BV
Miguel A. Ariño and Benjamin Muckenhoupt
American Mathematical Society (AMS)
A new proof is given that regularity of w w implies that the dual of the classical Lorentz sequence space d ( w , q ) d(w,q) is the nonclassical d ( w − q ′ / q , q ′ ) d({w^{ - q’/q}},q’) , where 1 / q + 1 / q ′ = 1 1/q + 1/q’ = 1 . It is also shown that regularity is necessary for this equality to hold.
Miguel A. Ariño and Benjamin Muckenhoupt
American Mathematical Society (AMS)
A characterization is given of a class of classical Lorentz spaces on which the Hardy Littlewood maximal operator is bounded. This is done by determining the weights for which Hardy’s inequality holds for nonincreasing functions. An alternate characterization, valid for nondecreasing weights, is also derived.
Miguel Ariño, Raouf Eldeeb, and N. T. Peck
Springer Science and Business Media LLC
M. A. Ariño
Cambridge University Press (CUP)
Singer [7] proved that in a Banach space all basic sequences are shrinking if and only if all of them are boundedly complete. Afterwards; Zippin [2] proved a similar result for Schauder bases, and it was extended [1] to Schauder decompositions.
Miguel A. Ari�o and Miguel A. Canela
Springer Science and Business Media LLC
Miguel A. Ariño
American Mathematical Society (AMS)
The Banach envelope and a representation of the topological dual of the weak- l p {l_p} sequence spaces which involves the Lorentz sequence spaces are computed. The local convexity of weak- L p {L_p} spaces is studied also.
M. A. Ariño and M. A. Canela
Cambridge University Press (CUP)
In this article, we study some questions related to the complementation and the Hahn-Banach property for subspaces of lp, for 0 < p < 1. Some results which are stated here have appeared in the work of W. J. Stiles [4, 5] and N. Popa [3], but our proofs are simpler. We solve a problem raised by Popa [3], concerning complemented copies of lp contained in lp.
M. A. Ariño
Cambridge University Press (CUP)
Necessary and sufficient condition are given for an infinite dimensional subspace of a p-Banach space X with basis to contain a basic sequence which can be extended to a basis of X.