Bernardo (Bernie) Quiroga | Clemson University (original) (raw)

Papers by Bernardo (Bernie) Quiroga

SSRN Electronic Journal, 2000

SSRN Electronic Journal, 2000

ABSTRACT We estimate a hedonic price function for the characteristics of housing units in Santiag... more ABSTRACT We estimate a hedonic price function for the characteristics of housing units in Santiago, Chile, with the aim to capture unobserved utility-generating attributes for each unit. We used for this purpose two different semiparametric regression methods: a local linear kernel regression with a single unobservable index variable, similar to what has been implemented by Bajari and Kahn (2005), and a partially linear in the parameters, partially nonparametric method as first proposed by Robinson (1988). The data used comes from a cross-sectional sample of housing units in Santiago, Chile in 2006. Interestingly, the results obtained for the unobservable components are similar to each other and to ordinary least squares.

Family Business Review, 2007

We studied the impact of family ownership on firm performance by using a set of data on Chilean f... more We studied the impact of family ownership on firm performance by using a set of data on Chilean firms. From a sample of 175 firms listed on the stock market, the group of 100 family-controlled firms performed significantly better than the group of 75 nonfamily companies over the 10-year period under study (1995)(1996)(1997)(1998)(1999)(2000)(2001)(2002)(2003)(2004). Three distinct measures of performance-ROA, ROE, and a proxy of Tobin's Q-were employed to test the differences of means between the two groups of firms. These results were in line with our multiple regression model. All these findings support our conceptual framework and hypothesis, which states that public family firms perform better than public nonfamily firms.

This study explores the current status of corporate ethical policies in the large-size firms curr... more This study explores the current status of corporate ethical policies in the large-size firms currently operating in Chile and focus on the edition of formal documents on corporate ethics by means of a survey sent to the companies whose manning table exceeds 350 employees (460 firms), using for this selection the 2005 Directorio ITV de Empresas en Chile (ITV Directory of Corporations in Chile). The results obtained from the 116 responses received reveal that almost 60% of the firms possess ethics corporate documents; that in general there is consensus about the need to bear in mind the ethical conduct in the personnel selection, promotion and bonuses; and that generally a greater proportion of foreign firms have documents on ethics, as compared with the domestic firms. Likewise, a statistical verification was performed -whose results are only extrapolated to the large-size firms-on the correlation between possession of formal ethics documents and performance (measured as the value of 2005 sales), which had positive results and was statistically significant; at the same time, evidence was found, although somewhat weaker, to support the hypothesis of statistically positive correlation between such documents possession and the number of employees.

SSRN Electronic Journal, 2000

ABSTRACT We investigate newsvendor ordering behavior under competition. We present a laboratory e... more ABSTRACT We investigate newsvendor ordering behavior under competition. We present a laboratory experiment that documents the behavioral ordering regularities in competitive newsvendor environments, and an analytical model extending the standard theory of newsvendor competition by including an optimal best response policy for competing with a behaviorally-biased newsvendor. We test the effectiveness of this policy using an out-of-sample experiment and find that it results in improved market share, service level and profitability.

SSRN Electronic Journal, 2000

SSRN Electronic Journal, 2000

ABSTRACT We estimate a hedonic price function for the characteristics of housing units in Santiag... more ABSTRACT We estimate a hedonic price function for the characteristics of housing units in Santiago, Chile, with the aim to capture unobserved utility-generating attributes for each unit. We used for this purpose two different semiparametric regression methods: a local linear kernel regression with a single unobservable index variable, similar to what has been implemented by Bajari and Kahn (2005), and a partially linear in the parameters, partially nonparametric method as first proposed by Robinson (1988). The data used comes from a cross-sectional sample of housing units in Santiago, Chile in 2006. Interestingly, the results obtained for the unobservable components are similar to each other and to ordinary least squares.

Family Business Review, 2007

We studied the impact of family ownership on firm performance by using a set of data on Chilean f... more We studied the impact of family ownership on firm performance by using a set of data on Chilean firms. From a sample of 175 firms listed on the stock market, the group of 100 family-controlled firms performed significantly better than the group of 75 nonfamily companies over the 10-year period under study (1995)(1996)(1997)(1998)(1999)(2000)(2001)(2002)(2003)(2004). Three distinct measures of performance-ROA, ROE, and a proxy of Tobin's Q-were employed to test the differences of means between the two groups of firms. These results were in line with our multiple regression model. All these findings support our conceptual framework and hypothesis, which states that public family firms perform better than public nonfamily firms.

This study explores the current status of corporate ethical policies in the large-size firms curr... more This study explores the current status of corporate ethical policies in the large-size firms currently operating in Chile and focus on the edition of formal documents on corporate ethics by means of a survey sent to the companies whose manning table exceeds 350 employees (460 firms), using for this selection the 2005 Directorio ITV de Empresas en Chile (ITV Directory of Corporations in Chile). The results obtained from the 116 responses received reveal that almost 60% of the firms possess ethics corporate documents; that in general there is consensus about the need to bear in mind the ethical conduct in the personnel selection, promotion and bonuses; and that generally a greater proportion of foreign firms have documents on ethics, as compared with the domestic firms. Likewise, a statistical verification was performed -whose results are only extrapolated to the large-size firms-on the correlation between possession of formal ethics documents and performance (measured as the value of 2005 sales), which had positive results and was statistically significant; at the same time, evidence was found, although somewhat weaker, to support the hypothesis of statistically positive correlation between such documents possession and the number of employees.

SSRN Electronic Journal, 2000

ABSTRACT We investigate newsvendor ordering behavior under competition. We present a laboratory e... more ABSTRACT We investigate newsvendor ordering behavior under competition. We present a laboratory experiment that documents the behavioral ordering regularities in competitive newsvendor environments, and an analytical model extending the standard theory of newsvendor competition by including an optimal best response policy for competing with a behaviorally-biased newsvendor. We test the effectiveness of this policy using an out-of-sample experiment and find that it results in improved market share, service level and profitability.