The High Dividend Yield Return Advantage: An Examination of Empirical Data Associating Investment in High Dividend Yield Securities with Attractive Returns Over Long Measurement Periods

In the pages that follow, we set forth a number of studies, largely from academia, analyzing the importance of dividends, and the association of high dividend yields with attractive investment returns over long measurement periods. You may be familiar with our prior booklet, What Has Worked In Investing, where we provided an anthology of studies which empirically identified a return advantage for value-oriented investment characteristics. In the same spirit, we attempt to examine what some in our industry have referred to as the “yield effect”; i.e., the correlation of high dividend yields to attractive rates of return over long measurement periods. Much has been written about dividends, and what is contained herein is not meant to be an exhaustive analysis, but rather a sampling of studies examining the impact of dividends on investment returns. We hope it will provide you with added insight and confidence, as it did us, in pursuing a yield-oriented investment strategy.

Tabla online con el tipo de IVA a aplicar

La tabla está compuesta de dos partes, una relativa a productos/mercancías, y la segunda dedicada a los servicios. En ambas se muestran los distintos tipos de IVA que recaen sobre cada uno de ellos, incluyendo, según el caso, una nota de atención con información aclaratoria sobre el mismo, que incorpora también la referencia legal.

Asímismo se ofrece en la cabecera un buscador en el que se pueden incluir los términos a localizar.

Vida laboral de un profesional de compras

Influence: Science and Practice

Influence: Science and Practice is a Psychology book from 2003 examining the key ways people can be influenced by "Compliance Professionals". The book's author is Robert B. Cialdini, Professor of Psychology at Arizona State University. The key premise of the book is that, in a complex world where people are overloaded with more information than they can deal with, people fall back on a decision making approach based on generalizations. These generalizations develop because they allow people to usually act in a correct manner with a limited amount of thought and time. However, they can be exploited and effectively turned into weapons by those who know them to influence others to act certain ways.
 
The findings in the book are backed up by numerous empirical studies conducted in the fields of Psychology, Marketing, Economics, Anthropology and Social Science.

Collapse: How Societies Choose to Fail or Succeed.

Redes: Sabemos que no sabemos lo que decidimos

Redes - Sabemos que no sabemos lo que decidimos

• Redes - Sabemos que no sabemos lo que decidimos

Sostenibilidad en España 2011

El Observatorio de la Sostenibilidad en España (OSE) presenta su informe anual sobre Sostenibilidad en España 2011, que pone de manifiesto, en un contexto de crisis sistémica, la necesidad ineludible de encontrar un nuevo modelo de desarrollo con futuro y que sea verdaderamente sostenible en la triple dimensión económica, social y la ambiental.

 

Resultado de este análisis se observa que tras la irrupción de la crisis generalizada, se está produciendo un leve cambio en el modelo de desarrollo español, aunque no necesariamente por sendas de mayor sostenibilidad. Con una economía estancada, el sector de la construcción ya no es el motor de la economía española. Las exportaciones, la industria y el turismo aparecen ahora como los sectores productivos que evitan que la economía caiga en recesión. Asistimos a un cambio en la dinámica sociodemográfica que se encamina hacia un ligero declive por la caída de la población, producto de una menor inmigración y una mayor emigración de residentes.

Aunque desde una perspectiva amplia de sostenibilidad no se han producido grandes avances, sí ha habido progresos en algunos indicadores de sostenibilidad ambiental. Más allá de los efectos de la crisis, se reflejan mejoras de eficiencia de los procesos productivos y efectos positivos de las políticas ambientales que se han venido implantando, que, por ejemplo, han supuesto la reducción de las emisiones de gases de efecto invernaderoy la disminución de la dependencia energética externa.

De la lectura de este informe se desprenden síntomas de cambio de un modelo de desarrollo que no acaba de orientarse hacia la ecoeficiencia y el consumo racional para poder apostar decididamente por la sostenibilidad.

Modificaciones introducidas en el IVA mediante el Real Decreto Ley 20-2012

Iva modificaciones rdl 20 12 (david ballester) from davidballester

Family Involvement- Firm Performance Link: Winning Configurations Revealed by Settheoretic Methods

Prior empirical research has found positive, negative and neutral relationships between family involvement in business and firm performance. These inconsistent findings may be partly explained by the different levels of family involvement. Family firms are not homogeneous entities; there are family-owned, family-governed and family-managed firms. These variations lead to different configurations based on the components of family involvement which can be captured by using set-theoretic methods. Applying this method to an international sample of 6,611 firms, we identify seven configurations in firms that lead to superior financial performance.

Family Involvement- Firm Performance Link

Ernst & Young’s 2012 European attractiveness survey

Europe is at a crossroads. Recession has once again returned to haunt many economies, the Eurozone crisis continues and the dynamics of the global economy grind relentlessly onwards from west to east, and north to south. With policy-makers beset by limited funds and facing an ever-increasing chorus of protest from voters, the prospect of achieving sustainable economic growth seems, on the surface at least, out of reach.

But despite this tide of negativity, Europe’s fundamental strengths endure. While the spotlight has focused on the world’s rapid-growth economies, Europe, too, remains a hotspot for investors. Ernst & Young’s European attractiveness survey, which measures the reality of Foreign Direct Investment
(FDI) and the perceptions of more than 800 decision-makers, found that in 2011 inward investment projects increased by 4% on the previous year and total significantly more than pre-crisis levels. And not only was the average project larger, but FDI job creation surged 15% and the share of Europe’s global FDI inflows increased from 26.9% to 28.2%.

We are not suggesting that FDI can solve the problem of growth in Europe, nor create the millions of new jobs Europe needs. We measure the number of projects. Many of these start with a relatively small number of jobs. But they tend to add more over the years. In the United Kingdom, for example, enlargement of existing subsidiaries typically accounts for more than half of all projects. So FDI — project by project, year by year — plays a critical role in renewing Europe’s stock of businesses, technologies, and ideas. And an uptick is a vote of confidence at a time when confidence in the future is scarce.

The perception of Europe, too, appears positive. Our survey found that investors see Western Europe as second only to China as the most attractive destination for global FDI, with Central and Eastern Europe ranked third. Investors also remain confident about Europe: 81% say Europe will overcome its current economic problems.

Such results demonstrate that in these times of global economic difficulty, stalling growth, high sovereign debt and a fragmented political system are not insurmountable obstacles to investment projects. For many investors, especially those from eastern markets, such uncertainty is actually business as usual.

Our survey also found that two thirds see several Europes. Although many countries remain in economic difficulty, Poland, by contrast, is enjoying dynamic growth and Germany continues to go from strength to strength. Clusters of worldclass technology are flourishing in France, London is gearing up for this summer’s sporting extravaganza and there are even bright spots in otherwise distressed economies — Italy’s midmarket champions and Spain’s renewable energy industry are two important examples.

Does this mean that Europe’s policy makers merely need to sit tight in the expectation that good times are certain to return? On the contrary, securing Europe’s competitive advantage in our global economy is far from assured. Against the backdrop of the single currency in crisis, investors have also stressed the urgent need for solutions to Europe’s pressing educational, entrepreneurial and innovation challenges. Policy makers and business leaders need to come together in order to address these issues and create the conditions for balanced and sustainable growth. Continued strong FDI will be pivotal in achieving this goal.

And while there are many bumps in the road ahead, the potential exists for Europe to “emerge”, or perhaps re-ermerge, ready to leverage many of its inherent adavantages if it can also urgently address its challenges. As we present our tenth European Attractiveness Survey, we would like to thank the hundreds of decision makers and Ernst & Young professionals who have taken the time to share their thoughts with us over the past decade.

 

Impacto del sector cultural y creativo sobre la productividad y el PIB

La Universitat de València y Econcult han presentado en el marco de la Conferencia Sostenuto celebrada en Bruselas el informe La cultura como factor de innovación económica y social. El estudio presenta los resultados de 3 años de investigación y trata sobre las relaciones entre cultura, innovación y desarrollo, y constituye el primer volumen de las publicaciones finales de la Conferencia en el proyecto europeo Sostenuto.

El análisis concluye que combinando las dimensiones micro con las macro es indudable el efecto de la cultura como elemento de innovación económica y social, tanto por razones de oferta como de demanda.

 

Puedes consultar un resumen del informe en castellano, y acceder al texto completo en inglés de los 2 informes presentados en la Conferencia.