Persona: Cuesta González, Marta María de la
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Cuesta González
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Marta María de la
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Publicación Banking system resilience and stability: constructing a composite indicator for developed countries(Emerald, 2019-10-14) Ruza Paz-Curbera, Cristina::virtual::3934::600; Cuesta González, Marta María de la::virtual::3935::600; Paredes Gázquez, Juan Diego::virtual::3936::600; Ruza Paz-Curbera, Cristina; Cuesta González, Marta María de la; Paredes Gázquez, Juan Diego; Ruza Paz-Curbera, Cristina; Cuesta González, Marta María de la; Paredes Gázquez, Juan Diego; Ruza Paz-Curbera, Cristina; Cuesta González, Marta María de la; Paredes Gázquez, Juan DiegoThe aim of this paper is to empirically appraise the health of banking systems by applying a new theoretical framework based on complex system theories. For doing so we propose a composite indicator for analysing the resilience and stability of banking systems for a group of advanced economies including the group of G7 countries, Spain and Portugal. The empirical results reveal quite different patterns in the aftermath of the financial crises. While some countries have improved its relative position within the ranking, we find others evolving just in the opposite direction. The main purpose of the indicator is not to make predictions of future banks’ behaviour, but rather to use it as an early warning system for policymakers and supervisors in identifying signs of weakness, as well as a useful tool to identify the best practices.Publicación The relationship of vulnerable financial consumers with banking institutions. A qualitative study in Spain(Elsevier Science, 2021-02) Fernández Olit, Beatriz; Cuesta González, Marta María de la::virtual::3928::600; Paredes Gázquez, Juan Diego::virtual::3929::600; Ruza Paz-Curbera, Cristina::virtual::3930::600; Cuesta González, Marta María de la; Paredes Gázquez, Juan Diego; Ruza Paz-Curbera, Cristina; Cuesta González, Marta María de la; Paredes Gázquez, Juan Diego; Ruza Paz-Curbera, Cristina; Cuesta González, Marta María de la; Paredes Gázquez, Juan Diego; Ruza Paz-Curbera, CristinaThe financial exclusion phenomenon has been approached from different perspectives. After reviewing the recent literature, we adopt a financial ecology approach and propose a comprehensive framework to analyze the different types of difficulties (access, use and perception) that vulnerable financial consumers face in relationships with banking institutions as well as their underlying causes. We consider financial inclusion as the sustainable provision of financial services and products and an adjustment to individual needs. We examine a special group of urban vulnerable consumers: underbanked people facing poverty and social exclusion. Data were obtained from focus groups and were coded and analysed using qualitative data analysis software. The results show that use difficulties predominate, followed by perception difficulties. Bank pressure and lack of financial training stood out among the main causes of these financial difficulties. We conclude that poorer neighborhoods constitute a distinctive financial ecology produced by the ‘discrimination’ of a significant number of their inhabitants in the use of mainstream financial services. The study provides evidence of the socio-spatial nature of the exclusion process and calls for further research on the role of policies responses to restrict abusive practicesPublicación Factores afectivos y cognitivos que dificultan las relaciones bancarias de consumidores económicamente vulnerables(Emerald, 2022-04-06) Fernández Olit, Beatriz; Cuesta González, Marta María de la; Orenes Casanova, Isabel; Paredes Gázquez, Juan DiegoEl objetivo de este artículo es explorar los factores afectivos y cognitivos que condicionan las relaciones bancarias de los consumidores económicamente vulnerables y cómo estos factores contribuyen a aumentar las dificultades financieras y la exclusión. Esta investigación, realizada en un conjunto de grupos focales, basa sus hallazgos en una combinación de métodos experimentales y de análisis del discurso. Las decisiones financieras no son racionales y pueden estar sesgadas por factores afectivos y cognitivos. Las finanzas conductuales se han centrado muy poco en analizar cómo los sesgos del consumidor influyen en las relaciones con las instituciones bancarias. Adicionalmente, estas relaciones se ven afectadas por la digitalización y transformación del negocio bancario. Así, en el caso de consumidores económicamente vulnerables, que no son rentables para la cada vez más competitiva industria bancaria y carecen de capacidades financieras, su riesgo de exclusión financiera es cada vez mayor. Los resultados muestran que la desconfianza y la vergüenza conducen a dificultades financieras en consumidores económicamente vulnerables. La desconfianza genera problemas de acceso y autoexclusión, mientras que la vergüenza genera dificultades de uso. Esta falta de confianza les hace más racionales en el trato con las máquinas que con las personas, mostrando mayores dificultades bancarias para los consumidores con perfil “persona-sospechoso”. Este hallazgo puede ayudar a los reguladores a establecer límites en el comportamiento bancario, exigir a los bancos que incorporen factores afectivos y cognitivos en sus pruebas de conveniencia y detectar nuevas variables que puedan ayudarlos a mejorar sus índices de insolvencia y reputación.Publicación Rethinking the Income Inequality and Financial Development Nexus. A Study of Nine OECD Countries(MDPI, 2020-07-06) Rodríguez, José Miguel; Cuesta González, Marta María de la; Ruza Paz-Curbera, CristinaFinancial crises have devastating effects in terms of income inequality. The recent financial crisis has provoked that inequality within advanced countries has returned to the prevailing levels of a century ago. In this article we look at the relationship between financial development and income inequality from a comprehensive perspective. Our hypotheses state that not only financial depth through credit expansion or capital markets activity matter in terms of income inequality, but also the financial system resilience. We look at a group of OCDE developed countries during the period 2000-2015 and the results confirm that in terms of credit provision there is a point of until which income inequality improves, but beyond this threshold further financial deepening will lead to a reverse effect, in line with the "Too much finance hypothesis". The role of capital markets exerts a widening income inequality effect while financial system resilience helps in alleviating existing income inequality. We recommend regulators and policymakers to pay more attention to financial depth variables, the behaviour of financial intermediaries and the environment in which they operate.Publicación Banks and financial discrimination: what can be learnt from the spanish experience?(Springer, 2019-04-15) Fernández Olit, Beatriz; Ruza Paz-Curbera, Cristina; Cuesta González, Marta María de la; Matilla García, MarianoThe paper analyses the phenomenon of financial discrimination that have been identified in many developed countries in the aftermath of the financial crisis. We would consider the process of quality worsening in the provision of banking products and services as part of the increasing problem of financial exclusion, which should consider not only the physical access to branches but also the difficulties of use of banking services and products. Our primary concern is focused on the collective of vulnerable customers, so we have carried out an analysis at a micro-scale (urban districts and municipalities) to identify the main determinants of the financial discrimination of territories according to their socioeconomic profile. This study constitutes a first attempt to analyse financial discrimination in the provision of banking products and services at an urban micro-scale. We have considered as good references the cases of Madrid and Barcelona in Spain, large urban territories with high level of social inequality. The methodology that had been applied is quantile regressions, useful technique for analysing the ‘extreme’ nature of the phenomenon of financial discrimination. Our results confirm that the more overloaded branches are settled in districts characterised by a lower socioeconomic profile, indicating a banking industry trend towards ‘low-cost’ retail banking to serve the group of less profitable – more vulnerable customers. Some recommendations are outlined for policymakers in line with the aims and scope of the Payment Accounts Directive of the European Union.Publicación Are social and financial exclusion two sides of the same coin? An analysis of the financial integration of vulnerable people(Springer, 2018) Fernández Olit, Beatriz; Paredes Gázquez, Juan Diego; Cuesta González, Marta María de laThe economic crisis has increased the inequality and heterogeneity of people at risk of social exclusion, and thus their financial vulnerability. This article reviews the literature on the determinants of unbanking and underbanking and proposes a model linking financial and social exclusion. We aimed to determine if people at risk of poverty and social exclusion are integrated -and to what extent- in the financial system. To answer this question, we identified the demographic and the social exclusion factors that determine both the status of financial vulnerability and the use of banking services. We used multivariate analysis methods to analyze the information from the survey on social vulnerability conducted by the Red Cross Spain in 2015. Our results show a negative relationship between the risk of social exclusion and the intensity of use of banking services. This leads to financial vulnerability and exclusion in the most extreme situations. We suggest that underbanking is the most relevant - but not previously studied- situation of financial vulnerability in Europe and discuss its implications for policymakers. This paper contributes to the measurement of the link between financial and social exclusion, and is the first quantitative study on the use of banking products by vulnerable people in a European context.Publicación The relationship between vulnerable financial consumers and banking institutions. A qualitative study in Spain(Elsevier, 2021-01-05) Fernández Olit, Beatriz; Cuesta González, Marta María de la; Paredes Gázquez, Juan Diego; Ruza Paz-Curbera, CristinaThe financial exclusion phenomenon has been approached from different perspectives. After reviewing the recent literature, we adopt a financial ecology approach and propose a comprehensive framework to analyse the different types of difficulties (access, use and perception) that vulnerable financial consumers face in relationships with banking institutions as well as their underlying causes. We consider financial inclusion as the sustainable provision of financial services and products and an adjustment to individual needs. We examine a special group of urban vulnerable consumers: underbanked people facing poverty and social exclusion. Data were obtained from focus groups and were coded and analysed using qualitative data analysis software. The results show that use difficulties predominate, followed by perception difficulties. Bank pressure and lack of financial training stood out among the main causes of these financial difficulties. We conclude that poorer neighbourhoods constitute a distinctive financial ecology produced by the ‘discrimination’ of a significant number of their inhabitants in the use of mainstream financial services. The study provides evidence of the socio-spatial nature of the exclusion process and calls for further research on the role of policy responses to restrict abusive practices.Publicación Corporate tax disclosure on a CSR basis: a new reporting framework in the post-BEPS era(Emerald Publishing, 2019-09-25) Cuesta González, Marta María de la; Pardo Herrasti, EvaPurpose The purpose of this paper is to explore the emerging discourse on corporate taxation from a corporate social responsibility perspective to develop a consensual definition of corporate tax responsibility (CTR) and to identify a set of indicators that firms should publicly communicate to their stakeholders as an accountability mechanism. Design/methodology/approach Data were obtained from semi-structured interviews with representatives of stakeholders closely related to taxation: tax authorities, companies, NGOs, tax advisors and academics. Based on a discourse analysis approach, data were coded and analyzed using computer-assisted qualitative data analysis software. Findings CTR is defined as the set of tax-related practices and policies that allow companies to pay a fair share of taxes as a function of the generated value in each jurisdiction in which they operate and to then publicly disclose them. Disclosure should cover disaggregated quantitative data and information on practices and policies. Originality/value Despite the wealth of research on sustainability reporting and increasing public awareness of tax aggressiveness and disclosure, academic research has not explored tax-responsible reporting. Moreover, no consensual definition of CTR has been formulated, and no indicators to properly account for responsible taxation have been identified. This paper contributes to filling these gaps by providing rich interview evidence regarding the nature of the emerging discourse on CTR reporting and a set of material indicators for CTR disclosure. This paper encourages researchers to foster the development of social accountability by engaging in future empirical studies of CTR.Publicación Does finance as usual work for circular economy transition? A financiers and SMEs qualitative approach(Taylor & Francis Group, 2022) Morales García, Manuel; Cuesta González, Marta María de laTransitioning to a circular economy (CE) particularly challenges small- and medium-sized enterprises (SMEs), and a deeper understanding of CE financial barriers is needed. We draw on SME and financiers’ views to qualitatively study the risks associated with CE, how such risks limit access to financial resources and how financial institutions perceive those risks. We find that transitioning to a circular economy entails regulatory, cultural and market risks and that CE business success does not depend solely on SME resources or capabilities. Contributions include combining business model perspectives with transition theories and showing that new circular business models entail major reforms to political, regulatory, and market structures, including financial markets. From a practical perspective, to accelerate CE transition, we recommend reducing fragmentation, uncertainty and incoherence in regulation of the remodeling of information and risk assessment systems and new co-financing mechanisms and alternative instruments such as blended finance or “circular finance.”Publicación CSR reporting communication: Defective reporting models or misapplication?(Wiley, 2020) Garcia Torea, Nicolas; Fernandez Feijoo, Belen; Cuesta González, Marta María de la; https://orcid.org/0000-0003-4301-3517; https://orcid.org/0000-0003-3642-2136This paper studies whether the failure of corporate social responsibility (CSR) reporting practices to enable effective CSR communication allowing stakeholders to appreciate firms' CSR is due to the reporting model guiding firms in elaborating sustainability reports, the companies' application of the model, or both. Drawing on the communication theory and using interpretive textual analysis, the paper specifically assesses Global Reporting Initiative (GRI) guidelines, the most widespread CSR reporting model worldwide, and its application by a leading sustainability reporter. The findings indicate that GRI guidelines suffer from significant limitations that hamper the production of reports accounting for CSR impacts. This paper contributes to critical research on CSR reporting practices and calls for redirecting current reporting practice towards a more effective approach. Additionally, it also responds to the need to approach CSR reporting research relying on theories different from the one commonly used.