Browsing by Subject "Rating"

Now showing 1 - 2 of 2
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    Open Access
    Costs of debt, tax benefits and a new measure of non-debt tax shields: examining debt conservatism in Spanish listed firms
    (2018) Clemente-Almendros, José A.; Sogorb-Mira, Francisco
    In spite of the fact that there is empirical evidence that debt tax benefits add to firm value, additional research is needed to explain the apparently conservative debt policy of many firms. This study exam- ines whether the costs of debt and non-debt tax related issues might shed some light on the apparent “conservative leverage puzzle” for Spanish listed firms throughout the period 2007–2013. Specifically, we compare the costs of financial distress with the potential tax benefits of debt. In addition, we test whether debt conservativeness, measured by the kink, is explained by different costs of debt and non- debt tax shields. Our findings suggest that the most conservative Spanish listed firms may not be acting sub-optimally with respect to the tax advantage of debt financing. Furthermore, the results obtained are consistent with the belief that debt costs might offset the tax benefits stemming from debt financing, and debt and non-debt tax shields could act as substitutes
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    Open Access
    Project-based learning and the acquisition of competencies and knowledge transfer in higher education
    (MDPI, 2020-12-02) Granado Alcón, María del Carmen; Gómez Baya, Diego; Herrera-Gutiérrez, Eva; Vélez Toral, Mercedes; Alonso Martín, Pilar; Martínez Frutos, María Teresa; Psicología Evolutiva y de la Educación; Facultades de la UMU::Facultad de Educación
    The aim of this paper is to contribute to the body of knowledge about project-based learning (PBL) methodology in higher education by describing and analysing interrelations between competencies, and their contribution to knowledge transfer (KT) and students’ rating of the project. The sample consisted of 464 students from the Universities of Huelva (N = 347; 74.8%) and Murcia (N = 117; 25.2%), enrolled in the second year of a degree in either Infant or Primary Education. Data was collected through a self-administered questionnaire comprising a total of 53 items measuring general, specific, and transversal competencies, as well as students’ rating of the project. Competencies were selected from the course programmes for the degrees in Infant and Primary Education. Preliminary results showed that competencies were moderately to highly acquired after PBL, and that students reported notable KT as well as a positive assessment of the project. KT showed a high degree of association with students’ ratings and was established as a key factor in learning and learner satisfaction in higher education.