Analysing hedge fund strategies through the use of an option based approach
Joaquín López Pascual and Santiago Camarero have collaborated on a new research article. (2013), "Analysing hedge fund strategies through the use of an option based approach", Spanish journal of finance and accounting, nº 158, April-June.
"High level of interest has been concentrated on the hedge fund industry as a paradign of alternative investments, however the hedge fund industry is a heterogeneous group. One way to classify hedge funds is according to the investment strategy used, each offering a different degree of return and risk. Their historical return distributions and show that traditional mean variance based methods are not an appropriate approach for studying them due to their non normality, tendency to overestimate efficiency and for not taking in consideration the economic cycle. We will show that assimilating the strategies historical returns to options pay-offs we can get, through a low intensive trading, very similar long term returns and more efficient return distributions. These results will enable us to analyse whether, current hedge funds fee structures are justified by superior risk reward performance".
Cross Cultural Management: An International Journal, "Dynamic versus static culture in international business: a study of Spanish banking in China"
Joaquín López Pascual ,Yingying Zhang, (2012),"Dynamic versus static culture in international business: a study of Spanish banking in China", Cross Cultural Management: An International Journal, Vol. 19 Iss: 4, pp.588 - 611.
Purpose – The purpose of this paper is to empirically identify two types of cultural perspective in cross-cultural management studies: dynamic versus static perspectives, in particular their interaction in the international business of the firm.
Design/methodology/approach – The paper adopts an exploratory approach using qualitative data. After two phases of data collection, the management by values concept is taken to identify both the manifested and latent levels of characteristics of these two different approaches to cross-cultural management in international business.
Findings – The study results identify the characteristics of two cultural perspectives: dynamic versus static. Tables on static cultural comparison and the acculturation process illustrate their different natures and highlight their potential implications for further business and theoretical development.
Originality/value – The paper empirically identifies dynamic and static cultural perspectives in international business process, highlighting the relevance of distinguishing these two perspectives in the globalizing business world. The characteristics of dynamic and static culture illustrated build a base for further research in this line for international business and cross cultural management.
La empresa en la zona euro: situación actual y perspectivas. Una aproximación macroeconómica.
La revista "Cuadernos de Información Económica" publica el artículo "La empresa en la zona euro: situación actual y perspectivas. Una aproximación macroeconómica. " del Profesor Joaquín López Pascual en colaboración con el Profesor Joaquín Zamorano Valiña, en su número 229 de Julio/Agosto de 2012.
Internationalization of multinational banks: a study of foreign direct investment in seven Latin American countries
Joaquín López Pascual, Alejandro Santana Mariscal and Yingying Zhang have collaborated on a new research article. The work explores and compares the different factors that influence the foreign direct investment decisions taken by multinational banks. They have done this using panel data from seven Latin American countries. The results ratified the researchers' proposed hypothesis in the work.