Articles publicats en revistes (Empresa)
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- ArticleQuality-by-design as the pharmaceutical innovation paradigm: mapping the field and proposing a conceptual framework(Elsevier, 2025-08-01) Hernández Vivanco, Alfonso Antonio; Vlaisavljevic, Vesna; Gonzalez Moragas, Laura; Santana, MónicaQuality management (QM) and innovation practices are essential for business competitiveness, yet they often conflict when striving for radical advancements within complex innovation ecosystems. Amid this debate, the concept of Quality-by-Design (QbD) remains underexplored in management literature, despite its extensive development in technical fields. Taking the case of QbD in the pharmaceutical sector, this study aims at researching into its relationship with innovation, considering the interactions within the innovation ecosystem. We perform a bibliometric study, a selective content analysis combined with an assessment of the regulatory framework and relevant examples from the industry.
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Redes economicas en los mercados de capital de los BRICS: perspectiva a través de la teoría de grafos(Universidad Alberto Hurtado, 2026-05-21) Cortés Rufé, Marc; Marti Pidelaserra, Jordi; Kindelán, CeciliaEn el dinámico panorama económico global, las naciones BRICS, junto con países emergentes como Egipto, Arabia Saudita y los Emiratos Árabes Unidos, están transformando la integración comercial y financiera. Este estudio se centra en su alianza económica única, destacando la expansión de sus diversas economías. Utiliza la teoría de grafos para examinar la armonización de los perfiles de riesgo y rendimiento en varios mercados financieros, lo que indica un movimiento hacia una economía global más unificada. Si bien la integración trae consigo desafíos como la exposición a la volatilidad financiera global, la formulación estratégica de políticas macroeconómicas es crucial. Este análisis subraya la influencia significativa de estas economías en las tendencias económicas globales, enfatizando la necesidad de un diálogo continuo para su integración en el sistema financiero mundial. La investigación destaca la importancia de un análisis sofisticado por parte de los responsables de políticas, inversores y analistas para navegar en este complejo panorama económico.Article
Uncovering Systemic Risk in ASEAN Corporations: A Framework Based on Graph Theory and Hidden Models(MDPI, 2025-05-13) Marc Cortés Rufé; Marti Pidelaserra, Jordi; Kindelán Amorrich, CeciliaIn the context of an ever-evolving global economy, ASEAN companies face dynamic systemic risk that reshapes their financial interrelationships. This study examines the transmission of these risks using advanced graph theory techniques, particularly the measurement of eigenvector centrality based on Euclidean distances, combined with a hidden model that incorporates macroeconomic variables, such as GDP. The research focuses on identifying critical nodes within the corporate network, evaluating their contagion potential—both in terms of reinforcing resilience and amplifying vulnerabilities—and analyzing the influence of external factors on the network’s structure and behavior. The findings offer an innovative framework for managing systemic risk and provide strategic guidelines for the formulation of economic policies in emerging ASEAN markets.Article
A contemporary perspective on Ethical Leadership: emerging dimensions and the role of Moral Identity and Moral Attentiveness(Emerald Publishing, 2025-07-08) Gamarra, Maria Pilar; Girotto, MicheleThis research aims to address a gap in the literature by validating the Ethical Leadership Scale (ELS) for leader self-assessment and examining the influence of moral characteristics, specifically moral identity (MI) and moral attentiveness (MA), on leaders' self-assessment of ethical leadership (EL). It also investigates the moderating roles of gender and functional areas, such as marketing and finance. The study comprised two comprehensive phases. In the first phase, we validated the ELS through Exploratory Factor Analysis (EFA) using SPSS 29.0, Confirmatory Factor Analysis (CFA) with AMOS 29.0, and assessments of reliability and validity. In the second phase, we applied Structural Equation Modelling (SEM), using AMOS 29.0, to examine the relationships between MI, MA, and EL, drawing on data from 368 leaders in Spain working in finance and marketing roles. The sample was multisectoral, with substantial representation from the finance and technology industries. The results indicate that MI and MA play a significant role in improving leaders' self-assessment of EL. While gender did not substantially influence EL, differences were observed across functional areas. Additionally, the analysis uncovered three emerging EL dimensions (integrative decision-making, rewarding ethical behavior, and role model behavior), highlighting the continuous evolution of leadership ethics in response to contemporary challenges. The study is limited to a Spanish context and cross-sectional data. Future research should explore longitudinal and cross-cultural dimensions to generalize the findings further. Organizations can enhance ethical behavior by integrating MI and MA assessments into recruitment and training programs, fostering ethical decision-making and reinforcing role model behaviors among leaders. The study highlights the societal impact of ethical leadership by promoting transparency and fostering trust, which can lead to more sustainable and equitable organizational practices. This study introduces a novel validation of the ELS for self-assessment and uncovers new dimensions of EL. It is one of the first to examine the influence of MI and MA on EL from the leaders' perspective, offering fresh insights into ethical leadership's evolving framework.- ArticleInvesting in Superheroes? Comic Art As a New Alternative Investment(Portfolio Management Research, 2023) Bocart, Fabian Y.R.P.; Hafner, Christian M.; Kasperskaya, Yulia; Sagarra Garcia, MartíWe build quarterly and semi-annual indexes for American and European comic art based on a dataset of more than 106,000 comic art items sold at auction. We find that this new alternative investment can outperform US and European equities and bonds. Between 2002 and 2017, annualized returns of US comic artworks outperformed most asset classes with a solid 11% annualized return, while European comic art achieved 25% yearly returns on average after 2009. We show that comic art delivers significant diversification benefits to an investment portfolio due to low correlations with other assets and geographical diversification between European and American markets. These outcomes contrast with fine art in general, which delivered few diversification benefits when compared to equities and bonds between 2002 and 2017, and whose geographical markets are closely tied.
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Private labels and consumer decision-making in Spain(Emerald Publishing, 2025-10-23) Xancó-Grau, Sílvia; Vizuete Luciano, Emilio; Aymerich Martinez, Jordi; Alegret, AlejandroPurpose Private labels (PLs) are experiencing rapid growth across Europe and the U.S., with Spain emerging as one of the leading markets, where retailers such as Mercadona have positioned PLs as category benchmarks. This study offers a comprehensive analysis of the factors influencing PL consumer behaviour in Spain, where PLs account for more than 45% of the market share. Design/methodology/approach We identified eight key dimensions of consumer perception and applied a multiple linear regression model to examine their relationship with customer loyalty and product category engagement. Findings The findings reveal a strong positive relationship between loyalty to PLs, the number of product categories purchased and the perceived importance of product quality. The results also highlight the effectiveness of retailers’ strategies in building PLs that compete on both variety and perceived value. Practical implications Beyond theoretical contributions, this study provides actionable insights for business and policy. For retailers, the findings emphasize the need to invest in consistent product quality, segmentation strategies and loyalty-building initiatives. For policymakers, the growth of PLs presents an opportunity to enhance consumer access to affordable, high-quality goods, foster market competitiveness and support household resilience amid economic uncertainty. Originality/value This study offers a comprehensive analysis of the factors influencing PL consumer behaviour in Spain, where PLs account for more than 45% of the market share.Article
Twenty Years of Neuroinformatics: A Bibliometric Analysis(Humana Press, 2025-01-22) Guillen Pujadas, Miguel; Alaminos Aguilera, David; Vizuete Luciano, Emilio; Merigó Lindahl, José M.; Van Horn, John D.This study presents a thorough bibliometric analysis of Neuroinformatics over the past 20 years, offering insights into the journal’s evolution at the intersection of neuroscience and computational science. Using advanced tools such as VOS viewer and methodologies like co-citation analysis, bibliographic coupling, and keyword co-occurrence, we examine trends in publication, citation patterns, and the journal’s influence. Our analysis reveals enduring research themes like neuroimaging, data sharing, machine learning, and functional connectivity, which form the core of Neuroinformatics. These themes highlight the journal’s role in addressing key challenges in neuroscience through computational methods. Emerging topics like deep learning, neuron reconstruction, and reproducibility further showcase the journal’s responsiveness to technological advances. We also track the journal’s rising impact, marked by a substantial growth in publications and citations, especially over the last decade. This growth underscores the relevance of computational approaches in neuroscience and the high-quality research the journal attracts. Key bibliometric indicators, such as publication counts, citation analysis, and the h-index, spotlight contributions from leading authors, papers, and institutions worldwide, particularly from the USA, China, and Europe. These metrics provide a clear view of the scientific landscape and collaboration patterns driving progress. This analysis not only celebrates Neuroinformatics’s rich history but also offers strategic insights for future research, ensuring the journal remains a leader in innovation and advances both neuroscience and computational science.- ArticleThirty Years of The Journal of Derivatives: A Bibliometric Overview(Portfolio Management Research, 2025-03-01) Guillen Pujadas, Miguel; Alaminos Aguilera, David; Vizuete Luciano, Emilio; Merigó Lindahl, José M.This article offers a comprehensive bibliometric analysis of The Journal of Derivatives over the past three decades. By leveraging tools like VOS viewer and methodologies such as co-citation analysis, bibliographic coupling, and keyword co-occurrence, we delve into publication trends, citation patterns, and the Journal’s influence within the derivatives and quantitative finance sectors. Our analysis uncovers enduring research themes, including option pricing, risk management, and financial modeling, underscoring the fundamental aspects of derivatives research. Additionally, recent trends such as high-frequency trading, credit risk, and stochastic volatility models reflect the field’s responsiveness to emerging technologies and innovative methodologies. We also trace the Journal’s fluctuating impact and visibility, noting a recent resurgence attributed to its high-quality research contributions and adaptability to evolving market needs. Key metrics, such as publication counts, citation analysis, and h-index, highlight leading authors, influential articles, and prominent institutions, providing a detailed overview of the quantitative finance landscape. This bibliometric analysis not only celebrates the rich history of The Journal of Derivatives but also guides future research directions, ensuring its continued contribution to the evolving landscape of derivatives and quantitative finance.
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Unmasking i-deal practices in start-ups to attract, motivate and retain STEM employees(Emerald Publishing, 2025-09-04) Sánchez-Turón, Irene; Elgoibar Esteban, Patricia; Cruz Cázares, ClaudioPurpose --This study examines the role of idiosyncratic deals (i-deals) in the understudied context of start-ups and explores their impact on attracting, motivating, and retaining high-value STEM employees, given start-ups’ significant economic and social contributions. Design/methodology/approach -- Using a qualitative approach, semi-structured interviews were conducted with 42 participants, comprising 21 C-level executives and 21 employees from Spanish health technology start-ups. Data was analysed using the template analysis framework. Findings -- The study reveals that location and schedule flexibility are the most common i-deals in start-ups. Development i-deals typically involve training from external advisors or events. Task i-deals are frequent in the early stages, although radical task changes appear non-negotiable. Phantom shares emerge as a novel financial i-deal with significant research and practical implications. Overall, i-deals are crucial for attracting, motivating, and retaining top talent, which is essential for start-up continuity and performance. Originality/value -- This study applies social and resource exchange theories to pioneer i-deal research in start-ups, revealing how resource constraints shape their dynamics and broadening the scope of this field of study beyond large organisations and public institutions.Article
Consumo, Confianza y Credibilidad en los Medios de las distintas generaciones(Grupo Comunicar, 2026-01-05) Rodríguez Rodríguez, Sergio; Rodríguez Ávila, NúriaLos medios de comunicación son un elemento clave en las sociedades. El consumo de los mismos es distinto entre las diferentes generaciones. La Generación Z y los Millenials son nativos digitales y entre ellos es preponderante el uso de internet y las redes sociales. Esta investigación analiza tanto el consumo de los medios como la confianza y credibilidad que suscitan entre las diferentes generaciones de españoles. Para ello se han utilizado fuentes secundarias y se ha complementado con una encuesta a 2.233 individuos de las generaciones estudiadas. Los resultados muestran que el consumo de la televisión sigue arraigado entre los más jóvenes y que el mundo digital es transversal. Ahora bien, la credibilidad de los medios tradicionales supera al de las redes sociales en las que encuentran problemas para distinguir entre información veraz y falsa.Article
Business model innovation from dynamic capabilities perspective: Asystematic literature review(Elsevier, 2025-11-30) Cruz Sánchez, Oscar; Cruz Cázares, Claudio; Hernandez-Vivanco, AlfonsoBusiness model innovation (BMI) is increasingly recognized as a key source of competitive advantage andorganizational performance. BMI is rooted in the dynamic capabilities (DC) perspective as an iterative processthat involves the reconfiguration of activities, competencies, and routines. Despite the growing body of researchon BMI, its relationship with DC remains fragmented. This study addresses this gap by systematically reviewing57 peer-reviewed articles, applying the Antecedents, Decisions, and Outcomes (ADO) framework alongside theTheories, Context, and Methods (TCM) framework. Our analysis advances understanding by proposing an integratedframework in which DC drive BMI as a continuous process. The study identifies strategic sensing,business model (re)configuration, resource alignment, and organizational learning as key processes within DCthat shape the BMI process. Additionally, two cross-cutting DC–managerial dynamic capabilities and stakeholderengagement–are highlighted as critical enablers. These findings offer actionable strategies for managers to fosterinnovation and effectively navigate environmental uncertainty.Article
A Predictive Information System: Harnessing Purchase Intent Signals Buried in Digital Data(Univerzita Tomáše Bati ve Zlíně, 2025) Sáez Ortuño, Laura; Forgas Coll, Santiago; Huertas García, Rubén; Sánchez García, JavierE-commerce, whereby consumers are able to perform transactions easily online, has undergone rapid growth since its inception. Data mining with AI techniques, such as machine learning, can be a useful tool for market research in this field because it provides valuable information for the design of effective digital marketing strategies. This study examines how predictive information systems based on machine learning can improve the efficiency and competitiveness of e-commerce marketing. Using data from 5,389,731 users in Spain, we implement XGBoost to estimate purchase willingness across seven categories (insurance, hearing aids, NGOs, energy, gambling, telecommunications and finance). The supervised model is trained on historical conversions and behavioural–demographic variables, validated with holdout data, and deployed to score non-converted users. To complement algorithmic profiling with managerial insight, we conducted 63 qualitative interviews to uncover motivations by segment and category. XGBoost accurately predicts purchase likelihood when there is sufficient conversion depth, enabling granular segmentation and targeted promotion with reduced waste. The qualitative findings reveal distinct intrinsic and extrinsic drivers by product and declared sex, informing message framing and offer design. Taken together, the mixed-methods approach supports more efficient resource allocation, higher conversion rates and strengthened competitive positioning through data-driven segmentation and motivation-based personalisation. The contribution is twofold: a replicable, at-scale lead-scoring pipeline and actionable motivational maps for planning. Accordingly, this is an innovative, AI-enabled management method that increases efficiency, improves competitiveness and supports advantages in key processes, with multinational portability.Article
Exploring the link between work‑life balance and corporate financial performance across legal traditions(Springer Nature, 2025-06-10) Maraqa, Ahmad; Argilés Bosch, Josep M.; Kasperskaya, YuliaIn this study, we examine the impact of work-life balance (WLB) on corporate financial performance (CFP) in a cross- national context, using employee reviews from Glassdoor.com for companies in various industries across 19 European countries between 2009 and 2021. We applied regression analysis to test the link between WLB and CFP and found a positive impact on CFP, as indicated by return on assets (ROA) and return on equity (ROE). Furthermore, we found that civil versus common law traditions do not have a noticeable effect on the efficacy of WLB in improving CFP. This chal- lenges the expectation that civil-law countries would have a more pronounced effect than those with a common-law tradition. Our study contributes to employee-wellbeing literature by examining the impact of work-life balance on firm financial performance in a cross-national context. Additionally, we add to the law and finance literature by examining the institutional factor and how it affects the relationship between employee welfare and firm performance. The current debate in the law and finance literature mainly focuses on the protection of investors as governed by legal rules. Our study sheds light on how similar mechanisms relate to the welfare of other stakeholdersArticle
Beyond manufacturing: Assessing theory adequacy in service firm’s internationalization entry mode choice(Emerald Publishing, 2025-11) Espinet, Adriana; Miravitlles Matamoros, PalomaPurpose – This study aims to determine the suitability of main theories in studying the internationalization of service firm’s entry mode by analyzing academic viewpoints. Design/methodology/approach – We analyze 307 articles in the domain of service internationalization through a combination of bibliometric and content analysis, focusing on the internationalization of service firms and their entry mode choices over four decades of literature. Findings – The results show that the debate on the adequacy of extant internationalization theories to the study of service firms is still not cut-and-dried. We provide insights on scholars’ positioning regarding the suitability of existing theoretical frameworks. Specifically, scholars support the adaptation of existing frameworks to study service firms, although there is little knowledge on how this adaptation should be tackled. Therefore, there is a clear interest in identifying, adjusting and creating frameworks that fit the particularities of the internationalization of service firms. Research limitations/implications – There is a clear overall interest in the literature in identifying, adjusting and creating frameworks that fit the particularities of the internationalization of service firms. Practical implications – The findings provide valuable insights for future researchers in selecting the most appropriate theoretical lens for studying the entry modes of service firms. Originality/value – This study examines scholars’ perspectives on the appropriateness of traditional theories for investigating the internationalization of service firms. Consequently, we shed light on the ongoing debate regarding the adequacy of international business theories in service firm research. To our knowledge, no other recent work has analyzed this issue from this particular standpoint.Article
Accelerators revisited: Taking stock and charting the path forward(Elsevier, 2026-06-23) Del Sarto, Nicola; Ferrigno, Giulio; Isabelle, Diane A.; Cruz Cázares, ClaudioThis study provides a comprehensive, updated overview of the literature on accelerators, highlighting their evolving role as cohort-based programs in supporting entrepreneurship and innovation. Accelerators have become central in helping startups overcome financial, skill-related, and legitimacy challenges. However, existing research on the topic remains fragmented. To address this, we conduct a bibliometric analysis of 174 peer-reviewed articles, collected from the Scopus database over the period 2005–2024. The findings reveal five thematic clusters: (1) Accelerators as open innovation tools; (2) Performance measurement and effectiveness; (3) Strategic approaches to startup growth; (4) The role of accelerators in entrepreneurial ecosystems; and (5) Design and evolution of accelerator models. We complement this analysis with an examination of the most cited works from the last five years. By integrating quantitative and qualitative insights, we identify gaps in the accelerator literature associated with these clusters and develop a research agenda structured around five research avenues: (1) Institutional and geographical contexts; (2) Diversity in selection processes; (3) Social and environmental impacts; (4) Collaboration dynamics; and (5) University-based and corporate accelerator roles. The results offer a solid foundation for scholars and practitioners to navigate the evolving landscape of accelerators and their impact on startup ecosystems in a context of post-pandemic environment and ongoing transformation.Article
Which commercial sectors coagglomerate with the accommodation industry? Evidence from Barcelona(Elsevier, 2021-05-01) Anguera Torrell, Oriol; Cerdan, AurélieThe expansion of accommodation establishments in an urban area might bring about a transformation to its commercial structure to meet tourists' needs. This can result in the loss of the area's identity, jeopardize its authenticity, and worsen the residents' quality of life. Yet, beyond some anecdotes which currently dominate the policy debate, no empirical evidence exists identifying which specific businesses abound around accommodation establishments. This paper proposes to fill this gap by estimating in Barcelona the degree to which each commercial sector appears to be geographically coagglomerated with the accommodation industry. Barcelona seems to be an appropriate case of study since it has already shown signs of the touristification of the commercial sector in neighborhoods that comprise most of the tourist accommodation offer. The results of this study allow identifying the particular commercial sectors that most and least coagglomerate with accommodation establishments; and show that tourism-oriented sectors tend to colocate with accommodation establishments, whereas residential-oriented ones do not follow this pattern. These results might help design policies aimed to preserve neighborhoods' identities and community resilience in tourist cities.Article
Exploring new challenges in the workplace: The win-win of including trans workers in organizations(Universitat Rovira i Virgili) Ribas, Maria; Elgoibar Esteban, PatriciaDespite growing efforts around diversity and inclusion, transgender individuals in the workforce still face barriers to fully integrating in the workplace (Corlett et al., 2023a). This leads to a problem of ongoing discrimination in society and in modern workplaces, where organizations and their leadership play a crucial role. With the aim of giving visibility to the barriers faced by transgender workers, and showing strategies to promote inclusion, we explore the social and economic benefits of including trans individuals in organizations. With this objective, we conducted a scoping review of the existing literature from 2014 to 2024. After the analysis, the findings reveal that, while transgender individuals have gained visibility in society, they still face discrimination, which negatively affects their well-being. However, the analysis concludes that organizations with inclusive policies as well as trans workers who perceive having supportive colleagues are key mechanisms for reducing discrimination towards trans workers. At the economic level, the implementation of inclusive policies fosters financial performance, greater innovation, and increased market value. Theoretical and practical implications are discussed.Article
"Hidden figures”: Women in R&D teams and the environmental product and process innovations of foreign subsidiaries(Elsevier, 2026-06-01) Moralles, Herick Fernando; Achcaoucaou Iallouchen, Fariza; Miravitlles Matamoros, PalomaAlthough the positive influence of women on environmental innovation has been studied before, its effects within the context of Multinational Corporations (MNCs) remain under-explored. This is an important matter since MNCs reach across borders by means of their foreign subsidiaries, whose activities play an important role in global climate change. Hence, this study examines how foreign subsidiaries' environmental (product and process) innovation objectives are affected by the representation of women in their R&D teams and moderated by the ecological institutions in the home countries of their parent companies. Using a sample of 974 foreign subsidiaries located in Spain over the 2008–2016 period, our results indicate that the MNCs' home-country environmental institutions can reinforce the expression of socially constructed female roles that support environmental innovation at the subsidiary level. Specifically, this effect tends to be greater for product-related environmental innovations than for process-related ones. These findings further our understanding of the role of female R&D workers in the MNC context and provide evidence that a higher representation of women in their subsidiaries’ R&D teams can be considered a strategic asset with regard to environmental endeavors.Article
Innovation capability and internationalization in family firms: Themoderating role of family involvement across governance layers(Elsevier, 2026-05-23) Filipescu, Diana A.; Hernandez-Vivanco, Alfonso; Garcés-Galdeano, Lucía; Cruz Cázares, ClaudioInnovation is widely recognized as a driver of internationalization, but it does not automatically translate intointernational scale. This is especially true for family firms, where governance structures and socioemotionalwealth (SEW) priorities shape willingness to commit resources to foreign markets under uncertainty. Drawing onthe Uppsala Model, we examine how family involvement moderates the translation of innovation into internationalization.We propose a governance-layered perspective: family involvement in the top management team(TMT) activates a restricted SEW orientation that may limit international commitment, whereas involvementoutside the TMT fosters an extended SEW orientation that facilitates it. Using a longitudinal dataset of 7994observations from 1506 Spanish SME family firms (1996–2020) and a two-step GMM estimation, we find thatfamily involvement outside the TMT positively moderates the innovation-export intensity relationship, whileinvolvement within the TMT has a negative effect. Our study advances the Uppsala Model by introducinggovernance-layered SEW as a behavioral mechanism explaining heterogeneity in firms’ commitment to foreignmarkets, offering both theoretical insight and practical guidance for family firms seeking to leverage innovationfor international growth.Article
Toward Sustainable Management: Environmental and Operational Advantagesof Quantum Computing over Classical HPC in the NISQ Era(Universidad Tecnológica Atlántico Mediterráneo, 2026-05-29) Sánchez García, Javier; Sáez Ortuño, Laura; Forgas Coll, Santiago; Huertas García, RubénThe urgency to decarbonize digital infrastructure motivates the search for lowerfootprintcomputational methods in management analytics. This article evaluates,from sustainability and economic performance perspectives, the potential of neartermquantum computing [noisy intermediate-scale quantum (NISQ) computing]versus high-performance classical architectures (HPC) for management tasks suchas customer classification, resource allocation, and decision optimization. We proposean evaluation framework that integrates: (i) model performance metrics (areaunder the curve, recall, precision), (ii) energy and carbon metrics [kWh, kilogramsof CO2 equivalent (kgCO2e)] per experiment and per unit of business utility, and(iii) scalability under wall clock and queue constraints. Using a hybrid pipeline thatcombines quantum kernels with feature extraction and support vector machines(SVM) [quantum SVM plus quantum feature extraction (QSVM + QFE)], we observethat, for recallfirst use cases (e.g., marketing), shallowdepth circuits can maintainor improve sensitivity, enabling decisions with fewer false negatives. When classicaltraining would be heavy (e.g., extensive hyperparameter sweeps, large kernelmatrices), simulated quantum approaches or limited hardware runs can reducetotal energy by requiring fewer retraining cycles and allowing receiver operatingcharacteristic (ROC) thresholding without retraining. We present a practical measurementprotocol for modern HPC infrastructures (e.g., MareNostrum 5) and outlinescenarios where an environmental quantum advantage is plausible, especiallywith forthcoming accelerated partitions and fidelity improvements. This comparisonis theoretical, based on analytical models parameterized with literature-backedranges. We conclude with governance and environmental, social and governance(ESG) reporting recommendations and a research agenda to quantify “utility perkgCO2e” for datadriven business decisions.