Paolo Saona, Ph.D.

Journals

Azad, M., Akhter, T., Saona, P., San Martín, P., and Ahmad, N. (accepted for publication). "Corporate Governance, National Culture and Bank Performance: Evidence from MENA Countries", in International Journal of Islamic and Middle Eastern Finance and Management. (2023 JCR Impact Factor 2.800)

Saona, P., Muro, L., and López-Quesada, E. (2025). "An Integrated Corporate Governance Index for Spain: From Construction to Construct Validity", Spanish Accounting Review, 28(1): 32-56. (2022 JCR Impact Factor 1.800, Q3)

Saona, P., San Martín, P., and Vallelado, E. (2024). "The Zero-Debt Puzzle in BRICS Countries: Disentangling the Financial Flexibility and Financial Constraints Hypotheses", Emerging Markets Review, 61, 101163. doi.org/10.1016/j.ememar.2024.101163. (2023 JCR Impact Factor 4.800, Q1)

Saona, P., Muro, L., San Martín, P. and McWay, R. (2024). "Do Board Gender Diversity and Remuneration Impact Earnings Quality? Evidence from Spanish Firms", Gender in Management: An International Journal, 39(1), 18-51. doi:10.1108/GM-04-2021-0113. (2022 JCR Impact Factor 3.700, Q3)

Tahani, T., Nasrin, F., Saona, P. and Azad, M. (2024). "Revisiting the Impact of Board Characteristics on Environmental, Social, and Governance (ESG) Performance: Lesson from European Firms", International Journal of Sustainable Economy. doi:10.1504/IJSE.2024.10053959. (2021 Scopus Index CiteScore: 1.5, Q3)

Saona, P., Muro, L. and Gregoriou A. (2023). "The Phenomenon of Zero-Leverage Policy: Literature Review", Research in International Business and Finance, 66, 102012. https://doi.org/10.1016/j.ribaf.2023.102012. (2022 JCR Impact Factor: 6.500, Q1)

Tahmid, T., Hoque, M. N., Said, J., Saona, P. and Azad, M. (2022). "Do ESG Initiatives Yield Greater Firm Value and Performance? New Evidence from European Firms". Cogent Business & Management, 9(1), 2144098. doi:10.1080/23311975.2022.2144098. (2021 Scopus Index CiteScore: 2.9, Q2)

Safiullah, M., Akhter, T., Saona, P. and Azad, M. (2022). "Gender Diversity on Corporate Boards, Firm Performance, and Risk-taking: New Evidence from Spain". Journal of Behavioral and Experimental Finance, 35, 100721. https://doi:https://doi.org/10.1016/j.jbef.2022.100721. (2021 JCR Impact Factor: 8.222, Q1).

Saona, P., San Martín, P. and Cid, C. (2022). "Founding-Family-Controlled Firms, Intergenerational Succession, and Firm Value", Economic Research-Ekonomska Istraživanja. 35(1): 3138-3167. https://doi:10.1080/1331677X.2021.1986673. (2021 JCR Impact Factor: 3.080, Q2).

Mumu, J., Saona, P., Haque, M. and Azad, M. (2022). "Gender Diversity in Corporate Governance: A Bibliometric Analysis and Research Agenda", Gender in Management: An International Journal, 37(3): 328-343. https://doi.org/10.1108/GM-02-2021-0029. (2021 JCR Impact Factor: 3.337, Q2)

Mumu, J., Saona, P., Mamun, M. A., and Azad, M. (2022). "Is Trust Gender Biased? A Bibliometric Review of Trust in E-Commerce", Journal of Internet Commerce, 21(2): 217-245. https://doi.org/10.1080/15332861.2021.1927437. (2021 Scopus Index CiteScore: 6.7, Q1).

Azad, M., Talib, M., Kwek, K., and Saona, P. (2021). "Conventional versus Islamic Bank Efficiency: A Dynamic Network Data-Envelopment-Analysis Approach", Journal of Intelligent & Fuzzy Systems, 40(2): 1921-1933. (2019 JCR Impact Factor: 1.851, Q3).

Agudelo, G., Franco, L., Franco-Ceballo, L., and Saona, P. (2021). "Actuarial Model for Estimating the Optimum Rate of Return of a Joint-and-Survivor Annuity Portfolio", Journal of Intelligent & Fuzzy Systems, 40(2): 1751-1759. (2019 JCR Impact Factor: 1.851, Q3).

Saona, P., and Azad, M. (2020). "Examining Managerial Misbehavior in Asian Banks through Loan Loss Provisions", Asia-Pacific Journal of Financial Studies, 49(4): 581-624. (2019 JCR Impact Factor: 0.578, Q2)

Saona, P., Muro, L., San Martín, P., and Cid, C. (2020). "Ibero-American Corporate Ownership and Boards of Directors: Implementation and Impact on Firm Value in Chile and Spain", Economic Research-Ekonomska Istraživanja, 33(1): 2138-2170. (2020 JCR Impact Factor: 3.034, Q2).

Mellado, C. and Saona, P. (2020). "Real Earnings Management and Corporate Governance: A Study of Latin America", Economic Research-Ekonomska Istraživanja, 33(1): 2229-2268. (2020 JCR Impact Factor: 3.034, Q2).

Saona, P., Vallelado, E., and San Martín, P. (2020). "Debt, or Not Debt, that is the Question: A Shakespearean Question to a Corporate Decision", Journal of Business Research, 115(1): 378-392. (2019 JCR Impact Factor: 4.874, Q1).

Saona, P., Muro, L., and Alvarado, M. (2020). "How Do the Ownership Structure and Board of Directors’ Features Impact on Earnings Management? The Spanish Case", Journal of International Financial Management & Accounting, 31(1), 98-133. (JCR Impact Factor: 2.280, Q2).

Saona, P., Jara, M., López, F., and San Martín, P. (2019). "Corporate Governance of Latin American Firms: Contestability to the Control and Firm Performance", BRQ-Business Research Quarterly, 22(4), pp. 257-274. (JCR Impact Factor: 2.525).

Saona, P., Muro, L, San Martín P., and Baier-Fuentes, H. (2019). "Board of Director’s Gender Diversity and Its Impact on Earnings Management: An Empirical Analysis for Select European Firms", Technological and Economic Development of Economy, 25(4), pp. 634-663. (2018 JCR Impact Factor: 4.344).

Jara, M., López, F., San Martín, P., Saona, P., and Tenderini, G. (2019). "Chilean Pension Fund Managers and Corporate Governance: The Impact on Corporate Debt", The North American Journal of Economics and Finance, 48(1), pp. 321-337. (2019 JCR Impact Factor: 1.535).

Saona, P., and Azad, M. (2018). "Bank- and Country-based Determinants of Banks’ Performance in Asia", Journal of the Asia Pacific Economy, 23(3), 428-446. (JCR Impact Factor: 0.667).

Saona, P., San Martín, P., and Jara, M. (2018). "Group Affiliation and Ownership Concentration as Determinants of Capital Structure Decisions: Contextualizing the Facts for an Emerging Economy". Emerging Markets Finance and Trade, 54(14), 3312-3329. (JCR Impact Factor: 0.828).

Saona, P., and Muro, L. (2018). "Firm- and Country-Level Attributes as Determinants of Earnings Management: An Analysis for Latin American Firms". Emerging Markets Finance and Trade, 54(12), 2736-2764. (JCR Impact Factor: 0.828).

Saona, P., and San Martín, P. (2018). "Determinants of firm value in Latin America: an analysis of firm attributes and institutional factors". Review of Managerial Science, 12(1), 65-112. (JCR Impact Factor: 1.483).

Azad, M., Munisamy, S., Teng, K., Talib, M., and Saona, P. (2018). "Productivity Changes of Pharmaceutical Industry in Bangladesh: Does Process Patent Matter?". Global Business Review, 19(4), 1013-1025. (2017 Scopus Index CiteScore: 0.88).

Vallelado, E., Saona, P., and San Martín, P. (2017). "How Regulation Affects the Relevance of Bank-Debt Maturity as a Control Mechanism in Developed Countries". Journal of Business Economics and Management, 18(1), 116-130. (JCR Impact Factor: 1.503).

San Martín, P., and Saona, P. (2017). "Capital Structure in the Chilean Corporate Sector: Revisiting the Stylized Facts". Research in International Business and Finance, 40(1), 163-174. (Scopus Index CiteScore: 1.80).

Azad, M., Munisamy, S., Masum, A., Saona, P., and Wanke, P. (2017). "Bank Efficiency in Malaysia: A Use of Malmquist Meta-frontier Analysis". Eurasian Business Review, 7(2), 287-311. (Scopus Index CiteScore: 1.39).

Saona, P., and San Martín, P. (2016). "Country Level Governance Variables and Ownership Concentration as Determinants of Firm Value in Latin America". International Review of Law and Economics, 47(1), 84-95. (JCR Impact Factor: 0.570).

Saona, P. (2016). "Intra- and Extra-Bank Determinants of Latin American Banks’ Profitability". International Review of Economics & Finance, 45(1), 197-214. (JCR Impact Factor: 1.261).

Saona, P. (2014). "Internal Corporate Governance Mechanisms as Drivers of Firm Value: Panel Data Evidence for Chilean Firms". Review of Managerial Science, 8(4), 575-604. (JCR Impact Factor: 0.857).

Saona, P., and Vallelado, E. (2014). "Is Bank-Debt Maturity Contingent on the Financial System?". Academia Revista Latinoamericana de Administración, 27(2), 183-208. (JCR Impact Factor: 0.205).

Saona, P., Jara, M., and Moreno, M. (2014). "Firm Size as Determinant of the Nonlinear Relationship Between Bank Debt and Growth Opportunities: The Case of Chilean Public Firms". Emerging Markets Finance and Trade, 50(Supplement 1), 265-293. (Scopus Index CiteScore: 0.73).

Jacques, V., Saona, P., Raddatz, M., and Vergara, G. (2013). "Analysis of The Convergence Process in The Academic Performance: The Case of a Chilean University". Economics and Finance Review, 3(5), 17-25.

Jara, M., Moreno, M., and Saona, P. (2012). "Non-Linear Relationship between Growth Opportunities and Bank Debt: A Panel Data Analysis of Chilean Firms". Academia, Revista Latinoamericana de Administración, 50, 44-65. (JCR Impact Factor: 0.162)

Saona, P., and Vallelado, E. (2012). "Firms’ Capital Structure Under Akerlof’s Separating Equilibrium". Spanish Journal of Finance and Accounting, XLI(156), 471-495. (Scopus Index CiteScore: 0.18).

Vallelado, E., and Saona, P. (2011). "An Integrated Model of Capital Structure to Study the Differences in the Speed of Adjustment to Target Long Term Debt Ratio Among Developed Countries". International Journal of Banking, Accounting and Finance, 3(4), 258-293. (Scopus Index CiteScore: 0.16).

Saona, P. (2011). "Determinants of the Profitability of the US Banking Industry". International Journal of Business and Social Science, 2(22), 255-269.

Jacques, V., and Saona, P. (2011). "El Proceso de Enseñanza-Aprendizaje Universitario: Reflexiones a Través de la Teoría de Agencia". Teoría de la Educación: Educación y Cultura en la Sociedad de la Información, 12(1), 340-358.

Saona, P., and Vallelado, E. (2010). "Is the Use of Bank Debt as a Governance Mechanism Conditioned by the Financial System? The Cases of Chile and Spain". Applied Economics, 42(13), 1709-1726. (JCR Impact Factor: 0.424).

Saona, P. (2010). "Growth Opportunities as Determinants of the Partial Adjustment Toward Target Debt Ratio: Evidence for the Chilean Case". International Review of Business and Finance, 2(2), 179-207.

Saona, P. (2009). "Estructura de Capital de las Empresas que Cotizan en la Bolsa de Valores Chilena: Un Análisis Comparativo Basado en la Teoría de Asimetrías de Información". Contaduría y Administración, 228, 41-66.

López, F., and Saona, P. (2007). "Earnings Management and Debt Ownership Structure in Spanish Firms". Corporate Ownership & Control, 5(1), 345-354.

López, F., and Saona, P. (2007). "Endeudamiento, Dividendos y Estructura de Propiedad Como Determinantes de los Problemas de Agencia en la Gran Empresa Española". Cuadernos de Economía y Dirección de Empresa, 31, 119-146.

Azofra, V., Saona, P., and Vallelado, E. (2007). "Oportunidades de Crecimiento y Estructura de Propiedad Como Determinantes del Apalancamiento de las Empresas Españolas". Spanish Journal of Finance and Accounting, XXXVI(113), 11-30.

Saona, P. (2006). "La Teoría de Agencia y el Entorno Institucional Como Marco de Análisis de la Decisión de Endeudamiento de las Empresas No Financieras de Chile y España". Spanish Journal of Finance and Accounting, XXXV(132), 945-947.

López, F., and Saona, P. (2006). "Costes de Agencia, Discrecionalidad Contable Directiva y Mecanismos Internos de Control: Un Análisis para la Gran Empresa Española". Estudios Financieros. Revista de Contabilidad y Tributación: Comentarios, Casos Prácticos, 277(1), 179-220.

Saona, P., and Vallelado, E. (2005). "Ownership Structure and Growth Opportunities as Determinants of Bank Debt: Evidence from Chilean Companies". Management Research: Journal of the Iberoamerican Academy of Management, 3(2), 119-134.

López, F., and Saona, P. (2005). "Earnings Management and Internal Mechanisms of Corporate Governance: Empirical Evidence from Chilean Firms". Corporate Ownership & Control, 3(1), 17-29.

de Andrés, P., San Martín, P., and Saona, P. (2004). "Decisiones Financieras en la Empresa Chilena: Una Mirada a Través de las Oportunidades de Crecimiento". Revista ABANTE, 7(1), 3-34.

Azofra, V., Saona, P., and Vallelado, E. (2004). "Estructura de Propiedad y Oportunidades de Crecimiento como Determinantes del Endeudamiento de las Empresas Chilenas". Revista ABANTE, 7(2), 105-145.

Books

Saona, P. (2011). "Endeudamiento Bajo la Teoría de Agencia y el Enfoque 'Law & Finance': Un Estudio para Chile y España" (1st. ed.). Saarbrücken, Germany: Editorial Académica Española.

Book chapters

Saona, P. and Muro, L. (2023). "The Influence of Firms´ ESG Initiatives on Firm Value: An Analysis for Select European Firms". In O. M. Lehner, T. Harrer, H. Silvola, & O. Weber (Eds.), The Routledge Handbook of Green Finance (1st ed., Vol. 1st, pp. 22). London: Routledge.

Saona, P., Naznin, A., Md. Abdullah Al, M. and Md. Abul Kalam, A. (2021). "Technologies for Cross-Border E-Commerce". In H. Md. Rakibul & R. E. Bashaw (Eds.), Cross-Border E-Commerce Marketing and Management (pp. 30-53). Hershey, PA, USA: IGI Global.

Saona, P., Slocum, A., Muro, L., and Moreno, G. (2017). "Earnings Quality and Market Performance in LATAM Corporations: A Combined Agency and Cognitive Approach to Investors’ Perceptions of Managerial Information". In O. L. Emeagwali (Ed.), Corporate Governance and Strategic Decision Making (pp. 177-198). Rijeka, Croatia: InTech.

Vallelado, E., San Martín, P., and Saona, P. (2014). "Firm-Based and Institutional-Based Determinants of the Bank Debt Maturity: New Evidence for Developed Countries". In T. Lindblom, S. Sjögren & M. Willesson (Eds.), Financial Systems, Markets and Institutional Changes (1st ed., Vol. 1, pp. 61-79). New York, NY, USA: Palgrave Macmillan.

Saona, P. (2009). "Corporate Governance in Chile". In F. López (Ed.), Codes of Good Governance Around the World (pp. 87-98). New York, NY: Nova Science Publishers, Inc.

Book editor

Book "Firm Value: Theory and Empirical Evidence", edited by Paolo Saona, IntechOpen. London, UK. (2018).

Other publications

Kiefer, K., Islam, J., Paul, J., Saona, P., & Azad, M. A. K. (2024). "Understanding the User Experience of Work-at-Home During a Pandemic: A Configuration Analysis". Academy of Management Proceedings, 2024(1), 17841. doi:10.5465/AMPROC.2024.17841abstract

Ahmad, N., Akhter, T., Saona, P., Raihan, M., and Azad, M. (forthcoming – accepted for publication). "Impact of Stock Market Capitalisation on Firm Performance: Revisiting the European Firms". International Journal of Financial Services Management

Kabir, A., Ikra, S., Saona, P., and Azad, M. (2023). "Board Gender Diversity and Firm Performance: New Evidence from Cultural Diversity in the Boardroom". LBS Journal of Management & Research. doi:10.1108/LBSJMR-06-2022-0022.

Borders, L., Azad, A., Muro, L., and Saona, P. (2022). "Financial Development, Governance Systems and Economic Freedom as Determinants of Financial Inclusion". United Nations Department of Global Communications, United Nations Academic Impact and Utah Valley University. Vol II, pp. 19-42. ISBN 978-84-1325-164-6.

Ifti, M., Saona, P., Hossain, M., Chowdhury, S., and Azad, M. (2022). "Student Engagement in Online Classes During COVID-19: A Sentiment Analysis". Bangladesh Journal of Integrated Thoughts, 17(2). doi:10.52805/bjit.v17i2.244.

Conference Presentations

12/2024 "Revisiting the Default Risk-ESG Relationship: New Evidence in European Markets", 2024 International Conference on Sustainability, Environment, and Social Transition in Economics and Finance (SESTEF 2024), Université Paris 1 Panthéon Sorbonne, Paris, France.

06/2024 "What Explains the Zero-Debt Puzzle in BRICS Countries? Disentangling the Financial Flexibility and Financial Constraints Hypotheses”, European Academy of Management (EURAM) Annual Meeting, Bath University, Bath, UK.

06/2023 "The Zero-Leverage Policy: What Does Explain this Phenomenon in BRICS Countries", Academy of Innovation, Entrepreneurship, and Knowledge Conference (ACIEK), ESIC, Madrid, Spain.

06/2023 "Firm Financial Performance: Disentangling the Female Leadership as Driver of ESG Innovations", European Academy of Management (EURAM) Annual Meeting, Trinity College, Dublin, Ireland.

10/2022 "Financial Development, Governance Systems and Economic Freedom as Determinants of Financial Inclusion", 1st International Academic Conference on the Sustainable Development Goals: Why it Matters, United Nations, Utah Valley University, Orem (Utah), USA.

06/2022 "An Integrated Corporate Governance Index for Spain: From Construction to Construct Validity", European Academy of Management (EURAM) Annual Meeting, ZHAW School of Management and Law, Winterthur, Switzerland.

6/2021 "Founding Family-Controlled Firms, Intergenerational Succession and Firm Value", 14th Annual Conference of the Academy of Innovation, Entrepreneurship, and Knowledge (ACIEK), Sorbonne (online), France.

06/2019 "Debt or Not Debt, That is the Question: A Shakespearean Question to a Corporate Decision" and "Contrasting Incentives for Earnings Management: Board Activity and Board Remuneration in Spanish Firms", Annual Conference of the Innovation, Entrepreneurship, and Knowledge Academy (INEKA), University of Verona, Verona, Italy

04/2019 "Contrasting Incentives for Earnings Management: Board Activity and Board Remuneration in Spanish Firms", International Conference on Economics and Business Research, organized by the International Society for Engineers and Researchers (ISER), Paris, France.

12/2018 "Board Gender Diversity and Its Impact on Earnings Management: An Empirical Analysis for Selected European Firms", 31st Australasian Finance and Banking Conference, University of New South Wales, Sydney, Australia.

11/2018 "Examining Managerial Misbehavior in Asian Banks Through Loan Loss Provisions", Asian Economic Community Forum, Incheon, South Korea.

09/2017 "Earnings Quality and Market Performance in LATAM Corporations: A Combined Agency and Cognitive Approach to Investors' Perceptions of Managerial Information" and "Group Affiliation and Ownership Concentration as Determinants of Capital Structure Decisions: Contextualizing the Facts for an Emerging Economy", 16th FRAP - Finance, Risk and Accounting Perspectives Conference, running parallel with its partner conference, the 2nd SSFII - Social and Sustainable Finance and Impact Investing Conference, Cambridge University, Cambridge, UK.

08/2017 "Endogenous and Exogenous Determinants of Profitability: A Study of the Asian Banking Industry", 2017 International Finance Conference, Universidad Técnica Federico Santa María, Santiago de Chile, Chile.

07/2016 "The Contest to the Control and Firm Value: An Analysis of Latin American Firms", 2016 World Finance Conference, St. John University, New York, USA.

12/2015 "Firm- and Country-level Corporate Governance Variables and Firm Value: An Analysis for Emerging Economies", 9th Conference of the Iberoamerican Academy of Management, supported by the School of Business and Economics, Universidad del Desarrollo, Santiago de Chile, Chile.

09/2015 "Firm- and Country-level Corporate Governance Variables and Firm Value: An Analysis for Emerging Economies", 5th International Conference on Corporate Governance in Emerging Markets, supported by the IFC Corporate Governance Solutions Group and the Center for Corporate Governance at HHL, Leipzig, Germany.

11/2014 "Intra- and Extra-Bank Determinants of Latin American Banks’ Performance", International Finance Conference: Financial Markets and Corporate Finance: Beyond the Crisis, Universidad Nacional Autónoma de México, Mexico.

11/2013 "Rethinking the capital structure puzzle: An empirical analysis for the Chilean corporate sector", "Firm-Based and Institutional-Based Determinants of the Bank Debt Maturity: New Evidence for Developed Countries", and "Internal Corporate Governance Mechanisms as Drivers of Firm Value: Panel data evidence for Chilean firms", the Southern Finance Association, Fajardo, Puerto Rico.

11/2012 "Internal Corporate Governance Mechanisms as Determinants of Firm Value: Panel Data Evidence for Chilean Firms, ENEFA (Encuentro Nacional de Facultades de Administración y Economía) Annual Meeting, Universidad de Talca, Talca, Chile.

11/2011 "Determinants of the Profitability of the US Banking Industry", the Southern Finance Association, Key West, Florida, USA.

03/2011 "Firms' Capital Structure Under Akerlof’s Separating Equilibrium", VIII Workshop on Research in Financial Accounting, University of Seville, Seville, Spain.

11/2010 "Growth Opportunities as Determinants of the Partial Adjustment to the Target Debt Ratio. Evidence from Chilean Firms", the Southern Finance Association, Asheville, North Carolina, USA.

07/2010 "Growth Opportunities as Determinants of the Partial Adjustment to the Target Debt Ratio. Evidence from Chilean Firms", EuroConference 2010, Society for the Study of Emerging Markets, Milas, Turkey.

11/2009 "Does Capital Structure of Firms Change when they Belong to the National Market Index of Most Traded Shares?", XVII Foro de Finanzas, IESE Business School, Madrid, Spain.

03/2009 "The Institutional Environment and the Speed of Adjustment to the Optimal Debt Ratio: An Analysis
for Developed Countries", V International Financial Congress, Hammamet, Tunisia.

09/2008 "An Analysis of the Influence of the Institutional Environment in the Speed of Adjustment to the Optimal Debt Ratio", Wolpertinger Conference, Universidad Lusófona de Porto, Porto, Portugal.

11/2007 "¿Es la Velocidad de Ajuste a la Ratio de Endeudamiento Objetivo Explicada por el Entorno Institucional?: Un Análisis a Través de un Conjunto de Países", XV Foro de Finanzas, Universitat de les Illes Balears, Spain.

09/2007 "¿Es la Velocidad de Ajuste a la Ratio de Endeudamiento Objetivo Explicada por el Entorno Institucional?: Un Análisis a Través de un Conjunto de Países", XVII ACEDE Conference (Asociación Científica de Economía y Dirección de Empresa), Universidad Pablo de Olavide, Seville, Spain.

04/2006 "The Agency Theory and the International Environment as Theoretical Framework for the Debt Decision in the Chilean and Spanish Firms", Colloque et Séminaire Doctoral Internacional, organized by Institut de Socio-Economie des Entreprises et des Organisations (ISEOR) and The Academy of Management, Lyon, France.

08/2005 "Control Mechanisms of the Agency Problems: New Empirical Evidence from the Big Spanish Company", XV ACEDE Conference (Asociación Científica de Economía y Dirección de Empresa), University of La Laguna, Tenerife, Spain.

06/2005 "Financing Growth Opportunities: The Use of Bank Debt in Different Environments", European Financial Management Association Annual Meeting, Bocconi University, Milan, Italy.

09/2004 "Discrecionalidad Directiva, Dirección de Beneficios y Estructura de Propiedad de la Deuda de la Gran Empresa Española" and "Oportunidades de Crecimiento y Estructura de Propiedad como Determinantes del Apalancamiento de las Empresas Españolas".

Working Paper Referee "Determinantes del Conservadurismo Financiero de las Empresas Españolas", XIV ACEDE Conference (Asociación Científica de Economía y Dirección de Empresa), University of Murcia, Murcia, Spain.

04/2004 "Bank Debt, Growth Opportunities, and Ownership Structure: An Analysis under Different Economic Circumstances", the Eastern Finance Association, Drexel University, Mystic, Connecticut, USA.

09/2003 "Debt, Growth Opportunities and Ownership Structure: Analysis for the Chilean Case", XIX Conference of Industrial Economics, University Jaume I, Castellón, Spain.

09/2003 "Bank Debt, Growth Opportunities and Ownership Structure: Analysis Under Different Economic Circumstances", XIII ACEDE Conference (Asociación Científica de Economía y Dirección de Empresa), University of Salamanca, Salamanca, Spain.

06/2003 "Debt, Growth Opportunities and Ownership Structure:
Analysis for the Chilean Case", XVII Annual Conference – XIII Spanish-French AEDEM Conference (Asociación Europea de Economía y Dirección de Empresa), Université Montesquieu-Bordeaux IV, Bordeaux, France.