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Research group on Financial Economics

The research group on financial economics (GREF) from the University of Andorra was established in 2008 with the aim of promoting research in the field of business in order to generate and disseminate knowledge and strategies that are useful for the whole of the economic structure.

The objectives of the research group are:

  1. Identifying and classifying intangible assets involved in the management of a company.
  2. Create a model of intellectual capital adapted to the type of organization.
  3. Studying the human capital of organizations.
  4. Studying the quality of service organizations.
  5. Studying organizational learning and its relation to knowledge creation.
  6. Analyze customer satisfaction in the hotel sector.

Rosa M. Mariño Mesías

Ph. D. in business organization and strategy. Graduate in economics and business, specializing in the economy of the company. Group coordinator.




Josep Fortó Areny

Ph. D. in business organization and knowledge management. Graduate in business administration, Graduate in business sciences, Postgraduate in financial markets, Postgraduate in financial instruments, Graduate in mathematics.

PROJECT 1 (current). Study of the intellectual capital of the hotel sector


  • Identify and study the elements of the intellectual capital of the hotel sector in the Principality of Andorra, with the objective of making proposals to improve the management of companies in the sector.
  • Propose a specific intellectual capital model for this sector.

Actions developed:

PROJECT 2 (finished). Study of the intellectual capital of the two main Andorran ski resorts


Actions developed:

  • Evaluation of the importance that experts give to the different elements that make up the intellectual capital of the alpine ski resorts.

PROJECT 3 (current). Study of customer satisfaction within the Andorran hotel sector. Preparation of a satisfaction model proposal


  • Understand customer satisfaction with the Andorran hotel sector and prepare a model proposal.

Actions developed:

  • Obtaining the Booking data.
  • Analysis of the first data obtained from specialized website.


Josep Fortó and Rosa M. Mariño are membres of the Asociación Española de Contabilidad y Administración de Empresas. Comisión de Turismo de AECA.

Doctoral theses

Fortó Areny, J. (2017). Proposta d’un marc conceptual per a modelar l’aprenentatge organitzatiu i la creació de coneixement. Una aplicació en organitzacions d’ensenyament superior. (Tesi doctoral). Universitat d’Andorra.

Mariño Mesías, R. M. (2015). Proposta d’un model relacional entre el capital humà i la qualitat de servei. Una aplicació al sector bancari andorrà. (Tesi doctoral). Universitat d’Andorra.

Conferences, congresses and journal articles