Explore the vast range of titles available.

This study investigates the influence of sovereign wealth fund (SWF) investments on the financial performance of firms in Saudi Arabia and Spain. Findings indicate that SWF investments exert a notable influence on average share prices, accounting for a considerable portion of the variation in stock values across both countries. Conversely, no significant relationship was found between SWF investments and other financial indicators such as return on investment, liquidity ratio, financial leverage, and profitability ratio. The analysis underscores the relevance of a firm’s national context when assessing the implications of SWF activity, as such investments may alter ownership structures and strategic directions. Additionally, the study emphasizes that SWF decisions are closely linked to broader economic and political developments, necessitating continuous monitoring and contextual evaluation. To explore these dynamics, the research utilized statistical tools such as regression models and coefficients of determination, enabling a clear measurement of the investments’ effects on financial indicators. The study concludes with several recommendations: further investigation into other variables influencing financial performance, stronger collaboration with SWFs as part of strategic investment planning, and improved transparency through consistent financial disclosure. Moreover, longitudinal and cross-sectoral comparative research is encouraged to deepen the understanding of SWF impacts globally.

This paper deals with the problem of defining efficient portfolios of electricity production assets using the Portfolio Theory, that is to say, by applying the return-risk analysis not to a single asset (e.g. a power station, a wind farm, a combined cycle gas plant), but to the set of technologies operating in a territory at a definite time. First of all, we study to what extent this methodological approach can be implemented to solve the problem of defining efficient sets of power production technologies, considering the fact that the Portfolio Theory was initially proposed in the field of financial investment. We focus on the main concepts of this framework (return, risk and diversification) and its uses in the energy mix context. Second, the evolution of the Spanish generation mix during the ten year period 2001-2010 is analysed according to two different variables: capacity and produced energy. Furthermore, we pay attention to the Spanish Government 2020 energy planning and compare it with several scenarios suggested using different patterns observed during 20012010 period. Finally, the most important conclusions are drawn and some lines of future research are proposed.

The European Union has being developing its Energy and Enviornmental policy along the last 30 years. Recent European Commision communications confirm the leadership of European Union on reducing pollutant gases emissions and technological change towards climate neutral economy. This study assessess the efficiency of European Energy Policy from a Modern Portfolio Theory perspective. The proposal studies the disaggregated European power portfolio: to make a more exhaustive analysis, focusing individually on each European country along the period 1990-2015. The efficiency of the Energy and Environmental Policy of each Member State is calculated measuring their distance to the power generation efficient frontier. The quadratic optimization model used by MPT is complemented by a cluster analysis of European Member States, in order to be able to observe country behaviour tendencies: regarding the application of their energy and environmental policies without overlooking the efficiency of that implementation. Results stand out that France, Slovakia and Sweden belong to the “leader” efficient cluster for the considered period. In turn, Denmark, Germany, Greece and Italy show a high consistence in the application of their energy and environmental policies along the considered period, as they moved upwards during that period.

ABSTRACT IN SPANISH: Las asociaciones juveniles no lucrativas tienen como principal factor de producción el trabajo de sus voluntarios. La sostenibilidad y permanencia del equipo de voluntarios se ve favorecida por el apoyo social brindado por la asociación receptora. Sin embargo los recursos de que dispone la entidad son limitados, por lo que se hace necesario establecer un modelo que permita una clasificación de los voluntarios. Los criterios a tener en cuenta para esta evaluación responderán a la misión, visión y valores de la asociación. El AHP-Analytic Hierarchy Process- es un modelo útil, simple, comprensible y con el que es posible la jerarquización y descomposición del problema. El proceso de evaluación gana en objetividad y racionalidad gracias a la puntuación individual de cada elemento en comparación con cada uno del resto de elementos. La clasificación final facilita la toma de decisiones sobre la aplicación de recursos en materia de apoyo social. // ABSTRACT IN ENGLISH: The main productive factor of nonprofit youth associations is the work done by volunteers. The social support provided by the host association facilitates sustainability and continuance in the team of volunteers. However the resources companies have are limited, so it becomes necessary to set up a model which enables volunteers to be ranked. The criteria to be taken into consideration for this assessment will respond to the mission, vision and values of the association. AHP -Analytic Hierarchy Process- is a simple, understandable and useful model which makes it possible to break the problem down and establish a hierarchy. The assessment process gains in objectivity and rationality thanks to the individual scoring of each element compared to each of the other elements. The final ranking facilitates decision taking on the allocation of resources in relation to social support. Reprinted by permission of CIRIEC-España

The main productive factor of nonprofit youth associations is the work done by volunteers. The social support provided by the host association facilitates sustainability and continuance in the team of volunteers. However the resources companies have are limited, so it becomes necessary to set up a model which enables volunteers to be ranked. The criteria to be taken into consideration for this assessment will respond to the mission, vision and values of the association. AHP -Analytic Hierarchy Process- is a simple, understandable and useful model which makes it possible to break the problem down and establish a hierarchy. The assessment process gains in objectivity and rationality thanks to the individual scoring of each element compared to each of the other elements. The final ranking facilitates decision taking on the allocation of resources in relation to social support. [PUBLICATION ABSTRACT]

This study investigates the influence of sovereign wealth fund (SWF) investments on the financial performance of firms in Saudi Arabia and Spain. Findings indicate that SWF investments exert a notable influence on average share prices, accounting for a considerable portion of the variation in stock values across both countries. Conversely, no significant relationship was found between SWF investments and other financial indicators such as return on investment, liquidity ratio, financial leverage, and profitability ratio. The analysis underscores the relevance of a firm’s national context when assessing the implications of SWF activity, as such investments may alter ownership structures and strategic directions. Additionally, the study emphasizes that SWF decisions are closely linked to broader economic and political developments, necessitating continuous monitoring and contextual evaluation.To explore these dynamics, the research utilized statistical tools such as regression models and coefficients of determination, enabling a clear measurement of the investments’ effects on financial indicators. The study concludes with several recommendations: further investigation into other variables influencing financial performance, stronger collaboration with SWFs as part of strategic investment planning, and improved transparency through consistent financial disclosure. Moreover, longitudinal and cross-sectoral comparative research is encouraged to deepen the understanding of SWF impacts globally.

The European Union has being developing its Energy and Enviornmental policy along the last 30 years. Recent European Commision communications confirm the leadership of European Union on reducing pollutant gases emissions and technological change towards climate neutral economy. This study assessess the efficiency of European Energy Policy from a Modern Portfolio Theory perspective. The proposal studies the disaggregated European power portfolio: to make a more exhaustive analysis, focusing individually on each European country along the period 1990-2015. The efficiency of the Energy and Environmental Policy of each Member State is calculated measuring their distance to the power generation efficient frontier. The quadratic optimization model used by MPT is complemented by a cluster analysis of European Member States, in order to be able to observe country behaviour tendencies: regarding the application of their energy and environmental policies without overlooking the efficiency of that implementation. Results stand out that France, Slovakia and Sweden belong to the “leader” efficient cluster for the considered period. In turn, Denmark, Germany, Greece and Italy show a high consistence in the application of their energy and environmental policies along the considered period, as they moved upwards during that period.

This paper deals with the problem of defining efficient portfolios of electricity production assets using the Portfolio Theory, that is to say, by applying the return-risk analysis not to a single asset (e.g. a power station, a wind farm, a combined cycle gas plant), but to the set of technologies operating in a territory at a definite time. First of all, we study to what extent this methodological approach can be implemented to solve the problem of defining efficient sets of power production technologies, considering the fact that the Portfolio Theory was initially proposed in the field of financial investment. We focus on the main concepts of this framework (return, risk and diversification) and its uses in the energy mix context. Second, the evolution of the Spanish generation mix during the ten year period 2001-2010 is analysed according to two different variables: capacity and produced energy. Furthermore, we pay attention to the Spanish Government 2020 energy planning and compare it with several scenarios suggested using different patterns observed during 2001-2010 period. Finally, the most important conclusions are drawn and some lines of future research are proposed.

This paper deals with the problem of defining efficient portfolios of electricity production assets using the Portfolio Theory, that is to say, by applying the return-risk analysis not to a single asset (e.g. a power station, a wind farm, a combined cycle gas plant), but to the set of technologies operating in a territory at a definite time. First of all, we study to what extent this methodological approach can be implemented to solve the problem of defining efficient sets of power production technologies, considering the fact that the Portfolio Theory was initially proposed in the field of financial investment. We focus on the main concepts of this framework (return, risk and diversification) and its uses in the energy mix context. Second, the evolution of the Spanish generation mix during the ten year period 2001-2010 is analysed according to two different variables: capacity and produced energy. Furthermore, we pay attention to the Spanish Government 2020 energy planning and compare it with several scenarios suggested using different patterns observed during 2001- 2010 period. Finally, the most important conclusions are drawn and some lines of future research are proposed. [PUBLICATION ABSTRACT]