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Artículos en revistas Este estudio analiza cómo las estrategias de responsabilidad social corporativa ambiental (ECSR) contribuyen a mejorar la innovación entre las pequeñas y medianas empresas (PYMES) mediante el desarrollo de recursos tecnológicos. Probamos nuestras hipótesis durante un período de ocho años utilizando un panel de 2.405 pymes industriales en España. Encontramos empíricamente que ECSR impulsa la construcción de los recursos tecnológicos de las empresas, lo que resulta en una mejora de su esfuerzo tecnológico o I + D y resultados en términos de innovación de productos y procesos. ECSR intensifica la innovación para empresas innovadoras y cataliza el inicio de la innovación para empresas que antes no innovaban, y los efectos resultantes se mantienen en el tiempo. Contribuimos a la literatura analizando los efectos de ECSR en la promoción de la innovación de las empresas más allá de la conocida influencia en la innovación verde. Además, examinamos el área de investigación descuidada de las estrategias ambientales de las PYME. Nuestros hallazgos fortalecen el valor innovador instrumental de ECSR, específicamente para las PYMES. This study analyzes how environmental corporate social responsibility (ECSR) strategies contribute to enhancing innovativeness among small and medium-sized enterprises (SMEs) by developing technological resources. We test our hypotheses over an eight-year period using a panel of 2,405 industrial SMEs in Spain. We empirically find that ECSR drives the building of firms’ technological resources, which results in an enhancement of their technological effort or R&D and outcomes in terms of product and process innovation. ECSR intensifies innovation for innovative firms and catalyzes the inception of innovation for previously non-innovating firms, and the resultant effects are sustained over time. We contribute to the literature by analyzing the effects of ECSR in promoting the innovation of firms beyond the well-known influence on green innovation. Further, we examine the neglected research area of the environmental strategies of SMEs. Our findings strengthen the instrumental innovative value of ECSR, specifically for SMEs. info:eu-repo/semantics/publishedVersion

Artículos en revistas The effectiveness and efficiency of policies that try to reduce carbon emissions in the transport sector may depend significantly, at least in the short term, on the availability of options to shift away from diesel and gasoline private cars. This paper uses a detailed model, and a carefully-constructed dataset, to show how a fuel tax reform affects differently Spanish metropolitan areas based on their fleet composition, share of public transport, and urban vs suburban distribution. We find that those areas with the largest share of diesel and with the highest penetration of public transport are able to reduce more their carbon emissions and energy use, at a lower welfare loss. We also find that the reductions obtained are not large, thus requiring additional measures. info:eu-repo/semantics/publishedVersion

Artículos en revistas En este artículo examinamos el impacto de los cambios del precio del petróleo en los retornos bursátiles de cuatro corporaciones de petróleo y gas listadas en el NYSE durante el periodo de Enero 1974 a Diciembre 2015. Consideramos diferentes especificaciones lineares y no lineares del precio del petróleo y tomamos en cuenta el quiebre estructural del año 1986. La nueva evidencia sugiere un impacto significativo y positivo de los cambios del precio del petróleo en los retornos bursátiles a corto placo. También encontramos que la relación es más estadísticamente significativa durante el periodo post-1986. In this paper we examine the impact of oil price shocks on stock returns of four oil and gas corporations listed on NYSE over the period January 1974 to December 2015. We consider different linear and nonlinear oil price specifications and take into account the structural break date of the year 1986. The novelty evidence supports a significant positive impact of oil price shocks on stock returns in the short-run. We also find that the relationship has become statistically significant during the post-1986 period. info:eu-repo/semantics/publishedVersion

Artículos en revistas Since the outset of power system reform, one of the main objectives of regulation has been to assess whether the market, of its own accord, can induce agents to adopt decisions that maximise social welfare. This paper analyses the effect of generating companies' risk aversion on their medium-term (typically 1 year) hydroelectric resource planning, along with its possible inducement of system operation that deviates from the centralised (maximum social welfare) solution. Forward markets may play a key role by making hedging instruments available to risk-averse agents. A stylised mathematical model is used in this study to prove the equivalence of centralised planning and market equilibrium in the presence of such agents under the following assumptions: 1) both the spot and forward markets are perfectly competitive; 2) it has at least one risk-neutral consumer or arbitrageur; 3) all agents share the same beliefs about uncertain parameters; 4) only one price is in place in each trading period (which can be perfectly hedged with a forward contract); and 5) a solution for the resulting market equilibrium problem exists. The findings show that such equivalence vanishes when forward markets are missing or inaccessible (attributable in some electricity markets to the absence of demand-side participation). This article consequently suggests that requiring demand-side agents to sign forward contracts with generators might constitute an effective regulatory measure where no fully functional forward market is already in place. info:eu-repo/semantics/publishedVersion

Artículos en revistas The recent advances in smart metering and communication technologies in electricity distribution networks could bring new opportunities to distribution system operators (DSOs). In particular, new forms of Active Demand (AD) could be developed to help DSOs to alleviate network congestions and decrease peak capacity requirements, which could in turn reduce or postpone the need for network reinforcements. This paper explores the mechanisms that would allow DSOs to incorporate AD procedures into their network planning strategies. A Reference Network Model (RNM) is used to quantify the potential economic benefits that AD could bring to distribution grids. The analysis is supported by a case study of two rural and urban areas of Spain, based on realistic large-scale exemplary networks and real consumption data. info:eu-repo/semantics/publishedVersion

Artículos en revistas South America is looking for ways to harmonize power supply expansion with growing environmental concerns as electricity demand increases at a fast pace. While South America contributed little to the world's total pollutant emissions, societies are increasingly becoming aware of the impact that new hydropower plants or fossil-burning thermal generators have. And the «not in my backyard» syndrome, typical of developed countries, is also gaining strength in the region. Private investors leading key investment decisions in the reformed South American power sectors are facing organized opposition to the building of new plants. Brazil and Chile provide two examples of how countries are trying to reconcile the need for abundant energy supply with environmental constraints info:eu-repo/semantics/publishedVersion

Artículos en revistas Algorithms that involve some kind of optimisation have been adopted by several electricity pools as a tool to clear the market. Traditionally, this kind of models were used on a cost minimising basis, but recent papers have pointed out that alternative dispatches may be obtained that, even with higher production costs, provide cheaper electricity prices for consumers. This paper studies this new payment-minimisation approach, focusing on the long-term economic signals that it provides and analysing their impact on future investments. Our results show that minimising consumer payment results in discriminatory scheduling for certain generation resources and may cause, in the long-run, higher prices for consumers. info:eu-repo/semantics/publishedVersion

Artículos en revistas The growing importance of the electricity sector in many economies, and of energy and environmental policies, requires a detailed consideration of these sectors and policies in computable general equilibrium (CGE) models, including both technological and temporal aspects. This paper presents the first attempt to our knowledge at building temporal disaggregation into a CGE model, while keeping technological detail. This contribution is coupled with some methodological improvements over existing technology-rich CGE models. The model is able to account for the indirect effects characteristic of CGE models while also mimicking the detailed behavior of the electricity operation and investment present before only in bottom-up detailed models. The present paper is the first of two parts and focuses on the bottom-up top-down calibration methodology needed to build such a model. Part II will present the CGE model applied to the evaluation of an energy policy with temporal consequences. info:eu-repo/semantics/publishedVersion