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dc.contributor.authorPiñeiro-Chousa, Juan
dc.contributor.authorVizcaíno-González, Marcos
dc.date.accessioned2024-01-12T19:27:33Z
dc.date.issued2020
dc.identifier.citationPineiro-Chousa, J., & Vizcaíno-González, M. (2020). A mathematical model for the role of third party funding in reputation building of academic institutions. Review of Managerial Science, 14(2), 365-377. https://doi.org/10.1007/s11846-019-00360-5es_ES
dc.identifier.issn1863-6691
dc.identifier.issn1863-6683
dc.identifier.urihttp://hdl.handle.net/2183/34893
dc.description.abstract[Abstract] Previous research on third party funding for academic institutions has demonstrated that it entails positive and negative outcomes. This manuscript deals with this idea from a reputational perspective, using the options theory as the framework for the analysis. The reasoning is based on the definition of a reputational income that is supposed to follow a stochastic behavior. It is modelled as a mean reverting type process, which is modified to introduce a correction factor with the aim of capturing the special reputational sensitivity of academic institutions regarding funding issues. We develop a stochastic partial differential equation, and we use its solution to deploy a sensitivity analysis to identify how the value of reputation reacts to changes in certain key variables. We find that the value of reputation increases if the academic institution becomes more sensitive to reputation related issues, or if there is an increase in the reputational reward that the market offers to a continued commitment to third-party funding. Also, the value of reputation gets higher as the ability to recover from reputational pitfalls strengths, but it decreases in a framework with high uncertainty and risk. So, this research proposes a mathematical formalization for the reputational dimension of third party funding in academic institutions, with the aim of identifying the critical variables that are likely to affect their reputational value and, thus, assist managers in their decision-making processes.es_ES
dc.language.isoenges_ES
dc.publisherSpringeres_ES
dc.relation.urihttps://doi.org/10.1007/s11846-019-00360-5es_ES
dc.rights© Springeres_ES
dc.subjectThird-party fundinges_ES
dc.subjectAcademic institutionses_ES
dc.subjectReputationes_ES
dc.subjectOptions theoryes_ES
dc.titleA Mathematical Model for the Role of Third Party Funding in Reputation Building of Academic Institutionses_ES
dc.typeinfo:eu-repo/semantics/articlees_ES
dc.rights.accessinfo:eu-repo/semantics/embargoedAccesses_ES
dc.date.embargoEndDate9999-99-99es_ES
dc.date.embargoLift10007-06-07
UDC.journalTitleReview of Managerial Sciencees_ES
UDC.volume14es_ES
UDC.startPage365es_ES
UDC.endPage377es_ES
dc.identifier.doihttps://doi.org/10.1007/s11846-019-00360-5


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