Repositorio Institucional Universidad EAFIT ::Examinando por Materia "Latin America"

Examinando por Materia "Latin America"

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Análisis de la relación entre las variables macroeconómicas y el pago de dividendos de las compañías en Latinoamérica : estudio de caso para Colombia, México, Brasil, Chile y Perú
(Universidad EAFIT, 2022) Velásquez Botero, Miguel; Gaitán Riaño, Sandra Constanza
This study presents an analysis of the relationship between macroeconomic variables and the dividend payment of Latin American companies. For this purpose, a sample of public companies from 5 countries in the region (Colombia, México, Brazil, Chile and Peru) was used for the period 1995-2021, through information extracted from the Refinitiv database, and for macroeconomic variables information extracted from the World Bank was used. In order to achieve the objective of analyzing this potential relationship, a panel data model with a Feasible Generalized Least Squares (FGLS) estimation was developed. As a result, a positive relationship with GDP was observed, as in all countries, but only significant in Brazil, Chile and Peru. In addition, there is a negative relationship with inflation and tax rate. However, this negative relationship is not observed in the same way in all countries analyzed and in most of them it lacks statistical significance. On the other hand, an analysis of the behavior of dividends in economic crisis is presented. Finally, it is concluded that despite the fact that in all countries there is an effect of macroeconomic variables (GDP (+) and Inflation (-)) on dividends, there is a heterogeneous effect depending on the country of analysis and on the characteristics of each firm.
Análisis del retorno total al accionista como medida de creación de valor en la Bolsa de Valores de Colombia
(Universidad EAFIT, 2023) Arias Ramírez, Isabel; Rúa Ramírez, Mateo; González Tabares, Carlos Eduardo
In this study, we analyze the total shareholder return (TSR) of Icolcap, an Exchange-Traded Fund (ETF) representing the Colombian stock market from 2011 to 2022. The objective is to assess the economic value creation achieved by Colombian companies for their shareholders during the years under review. As part of this evaluation, we examine the trends in profit distribution in Colombia and other markets over time, measured both by dividend payouts and share buyback programs. Finally, we compare the TSR results with the performance of other local investment products and against the TSRs of other ETFs representing international markets.
Analyzing Long-Term Availability of Urban Green Space by Socioeconomic Status in Medellin, Colombia, Using Open Data and Tools
(Institute of Electrical and Electronics Engineers Inc., 2020-01-01) Patino J.E.; Patino J.E.; Universidad EAFIT. Departamento de Ciencias; Research in Spatial Economics (RISE)
The availability of green spaces is an important issue for urban populations worldwide, given the benefits that the green spaces provide for health, well-being, and quality of life. But urban green spaces are not always distributed equally for different population groups within cities. Latin America is the second most urbanized region of the world, but there are few published studies analysing the green space availability for different urban population groups, and less so analysing the long-term trends. This work presents an analysis of long-term availability of urban green spaces by different socioeconomic status population groups in Medellin city, Colombia, using open geospatial data and open software tools. The results indicate that disparities between different groups have been decreasing in the last years, but there are still efforts to do. Showing this kind of analysis based on open data and tools is essential as it opens the possibility for replicating it in other cities with scarce budgets. © 2020 IEEE.
Case Study on the Eligibility of Colombian Hass Avocado in the US Market: Opportunities in East Asia
(Universidad EAFIT, 2019-07-02) Díaz Vasquez, Juan Carlos; Ardila Lopez, Carolina; Guerra Aranguren, Maria Alexandra; Universidad EAFIT
Case Study on the Eligibility of Colombian Hass Avocado in the US Market: Opportunities in East Asia
(Centro de Estudios Asia Pacífico, 2019-01-01) Vasquez, JCD; Lopez, CA; Aranguren, MAG
This case study describes the events, circumstances, and actors involved in the official certification of Colombian Hass avocado for exportation to the US market. The research presents the characteristics of the global Hass avocado market and the challenges Colombia faces in order to comply with North American regulations regarding admissibility and importation of fruits into its territory; finally, it discusses the opportunities for this product in the East Asian markets. This article is the product of a joint academic analysis in the areas of international business and foreign trade. The structure of the article follows the writing characteristics of case studies for class analysis.
Case Study on the Eligibility of Colombian Hass Avocado in the US Market: Opportunities in East Asia
(Centro de Estudios Asia Pacífico, 2019-01-01) Vasquez, JCD; Lopez, CA; Aranguren, MAG; Vasquez, JCD; Lopez, CA; Aranguren, MAG; Universidad EAFIT. Departamento de Ingeniería de Producción; Grupo en Tecnologías para la Producción
This case study describes the events, circumstances, and actors involved in the official certification of Colombian Hass avocado for exportation to the US market. The research presents the characteristics of the global Hass avocado market and the challenges Colombia faces in order to comply with North American regulations regarding admissibility and importation of fruits into its territory; finally, it discusses the opportunities for this product in the East Asian markets. This article is the product of a joint academic analysis in the areas of international business and foreign trade. The structure of the article follows the writing characteristics of case studies for class analysis.
A Comparative Welfare Regime Approach to Global Social Policy
(Universidad EAFIT, 2021-06) Wood, Geof; Gough, Ian; Universidad de Bath; Universidad de Bath
Beginning from the framework of welfare state regimes in rich capitalist countries, this article radically redefines it and applies the new model to regions and countries which experience problematic states as well as imperfect markets. A broader, comparative typology of regimes (welfare state, informal security, insecurity) is proposed, which captures the essential relationships between social and cultural conditions, institutional performance, welfare outcomes, and path dependence. Using this model, different regions of the world (East Asia, South Asia, Latin America, and sub-Saharan Africa) are compared. For many poorer, partially capitalized societies, people’s security relies informally upon various clientelist relationships. Formalizing rights to security via strategies for declientelization becomes a stepping stone to protecting people against the insecurity of markets.
The complexity of urban public policies in Latin America. Medellin's case
(UNIV ANTIOQUIA, FAC DERECHO & CIENCIAS POLITICAS, 2017-01-01) A. VASQUEZ CARDENAS; M. MONTOYA BRAND; D. ROJAS BERMEO; A. VASQUEZ CARDENAS; M. MONTOYA BRAND; D. ROJAS BERMEO
The article explores the reasons why urban public policies in Latin America have a very high degree of complexity. It also addresses the challenges that this generates for local governments. It examines in an illustrative way the case of Medellin (Colombia) by taking as a point of reference urban regeneration policies applied during 2004-2015. The complexity of urban policies can be exposed in aspects such as follows: In urban policies it is necessary to give room for diverse and sometimes conflicting interests; Latin American cities are faced with the challenge of ensuring, simultaneously with its policies, not only the human development but also the competitiveness required by the globalized world of today. Finally, it is increasingly clear that policy makers must take into account the consequences of the urban transformation processes that result from public policies. This work continues by evidencing the main tensions that complexity imposes on public policies concerning urban transformation in Latin America.
Country institutional profiles: evidence from Colombian software exporters
(EMERALD GROUP PUBLISHING LIMITED, 2018-01-01) Torkkeli L.; Fuerst S.
Purpose: The purpose of this paper is to illustrate how the perceived institutional environment of Colombian internationally operating small- and medium-sized enterprises (SMEs) in the software industry comes to determine their performance. Design/methodology/approach: The research applies regression modelling to a sample of 43 internationally operating Colombian SMEs in the software development industry, collected via an online survey. Findings: The results indicate that the normative dimension of the institutional environment comes to determine the export performance of the SMEs. Conversely, the cognitive and regulatory dimensions of the institutional forces do not have a significant effect. Research limitations/implications: The cross-sectional nature of the survey tool, the single industry and the single country context place limitations on the generalisability of the results across different industry and country contexts. Practical implications: The results highlight the need for entrepreneurship-friendly norms and values in the context of internationalising SMEs in Latin America. Governments should focus on the development and promotion of international entrepreneurs that inspire and serve as role models for other entrepreneurs rather than concentrate on the creation of regulatory frameworks and the provision of knowledge of how to start and manage risk for the internationalising SME. Originality/value: The study is one of the first to apply the Busenitz et al. (2000) scale on the institutional country profile to real entrepreneurs. Previous studies have mainly applied the framework to a sample of students or officers assigned to US embassies. Besides Renko et al.’s (2009) conference paper, ours is the first one that links the country institutional profile to the performance of internationalising software firms and, especially, in the context of a Latin American country. The study, therefore, attempts to contribute to a better understanding of how a country’s institutional environment impacts the performance of internationalising SMEs. © 2018, Emerald Publishing Limited.
Demanda de dinero en América Latina, 1996-2016: una aplicación de cointegración en datos de panel
(Universidad de los Andes, 2020-01-17) Torres, Alejandro; Villca, Alfredo; Posada, Carlos Esteban; Velasquez, Hermilson; Universidad EAFIT. Departamento de Economía y Finanzas; Research in Spatial Economics (RISE)
The study of money demand enables us to understand the macroeconomic effects of monetary policy. In this paper, we estimate the money demand for 15 Latin American countries from 1996 to 2016, using panel cointegra-tion and FMOLS estimation methods. We also estimate a model of dynamic common factors to test for the existence of common trends between coun-tries. The results show a long run relationship between money demand, income, and interest rates. However, there is no evidence of common factors between countries, which is consistent with the heterogeneity observed in the estimated elasticities. Contrary to what we expected, in several cases, the estimated income elasticity is greater than one, which could be associated with agents’ higher risk perceptions which affect their liquidity preferences. © 2020, Universidad de los Andes, Facultad de Economia. All rights reserved.
El derecho a la ciudad : su fuerza conceptual y recepción en los movimientos sociales de América Latina y Medellín
(Universidad EAFIT, 2021) Rodríguez Mira, Henry Alveiro; Vélez Posada, Andrés Felipe
This article analyzes the conceptual force of the right to the city and its reception in academic developments and urban practices in Latin America, paying particular attention to the case of the city of Medellín. For this purpose, a critical-genealogical methodology is used that allows addressing the history of the concept from its formulation in the work of Henri Lefebvre to its reception, appropriation and reproduction in said settings. The review of the spaces and authors through which the right to the city has transited will allow to account for the claiming potential of this concept with respect to social struggles. It should be noted that the relevance of this concept lies in its practical potential; that is, in the way it inspires social organizations to achieve changes in the city, and in its contribution to the generation of actions necessary for the transformation of existing inequalities. The article highlights the right to the city, present since the 1980s, as a relevant concept to think about the city of Medellín, in which there is evidence of a tension between international recognition and the crises caused by internal and even inequality not exceeded.
Descripción del estado actual de las incubadoras y aceleradoras universitarias en Latinoamérica
(Universidad EAFIT, 2022) Barajas Romero, Julieth Marisol; Uribe de Correa, Beatriz Amparo; Mesa Cano, Jorge Hernán
The promotion of entrepreneurship is an essential ingredient for welfare creation and economic growth of nations, and therefore, it is a pillar to impulse development in Latin American countries. Based on the University- State-Company triangle framework, there is a wide range of mechanisms available to boost the creation of start-ups. Incubators and accelerators are among the most prominent instruments that support entrepreneurs in the early stages of business development, and consequently, they are gaining an increasingly predominant role at universities. This research aims to describe the current state of university incubators/accelerators in Latin America to identify if they are generating value for their clients and their environment and helping to promote entrepreneurial levels in the regions they operate. Based on interviews with university incubators/accelerators in Mexico, Colombia, and Ecuador, the programs presented in this article illustrate their objectives, priorities, business models, and services. They also reveal a set of good practices, benefits for entrepreneurs, and methodologies that can guide other emerging institutions wanting to venture into this field. Likewise, this research describes the future challenges and weaknesses of university incubators/accelerators, demonstrating that Latin American countries still have a long path ahead in the entrepreneurship field.
Determinantes de las inversiones en capital de riesgo en Latinoamérica
(Universidad EAFIT, 2010) Gutiérrez Chaverra, Diana Catalina; Saldarriaga Romero, Víctor Jaime; Herrera Echeverri, Hernán; Velásquez Ceballos, Ermilson
En las últimas décadas la industria del Venture Capital ha tenido un alto crecimiento en los países desarrollados, sin embargo, dicho comportamiento solo ha sido evidente para el caso latinoamericano recientemente. Esta industria se considera uno de los principales factores que promueven el desarrollo económico y la innovación empresarial, ya que se convierte no sólo en un mecanismo de inversión para grandes inversionistas privados que buscan altos retornos a mediano y largo plazo, sino que también se convierte en una fuente importante de recursos de capital para empresas pequeñas o emprendedoras con grandes ideas empresariales, pero que no cuentan con los recursos suficientes para desarrollar su proyecto. Por lo tanto, es necesario identificar cuáles son los determinantes de la variabilidad del Venture Capital Fundraising en Latinoamérica de forma tal que se puedan generar políticas en torno a estas que promuevan nuevas inversiones en venture capital. Para tal fin se emplea un modelo de datos de panel a través del cual se identifican determinantes como la inversión extranjera directa neta, el producto interno bruto, la inflación y el riesgo político como aspectos relevantes de ésta industria; lo que sugiere a su vez que el buen desempeño de variables económicas, políticas e incluso de ambiente empresarial son determinantes en la industria de venture capital en Latinoamérica al igual que en diversos países del mundo.
The development of international business theory: Implications for international business teaching and research in Colombia
(Universidad del Valle, 2010-01-01) Fuerst, S.
The article provides an overview about the development of international business theory beginning with Hymer?s seminal contribution in 1960 and ending with a contribution by Engwall from 2006 that links institutionalization theory to the multinational...
Devouring the Hallyu: Development, Hybridization, and Latin American Cannibalism
(Universidad EAFIT, 2019-07-02) Arriojas, Claudio; Valentina Réquiz, Indira; Universidad Católica Andrés Bello; Universidad Central de Venezuela
Dynamics Of The Relation Between Latin America And China: Cluster Analysis, 2005–2018
(Universidad EAFIT, 2020-06-19) Wong, Sara A.; Valverde, Ivanna; Silva, Carlos A.; Escuela Superior Politécnica del Litoral
Literature discusses the symbiosis between financing loans granted by China to Latin America and exports from this region to China. This paper contributes to this literature by providing empirical evidence on the relation be- tween Latin American countries and China by creating a typology of countries based on different key aspects such as trade, commodity dependence, debt, environment, and institutionalism in four years over time (2005, 2010, 2015, and 2018). The dependence of countries on financing from China is taken into account, given the limited access to international markets as well as how aspects of government corruption and stability impact such dynamics. The contrast between countries and indicators shows that the relation between China and Latin America involves different aspects beyond bilateral trade.
Effects of Mergers and Acquisitions on Shareholder Wealth: Event Study for Latin American Airlines
(Universidad EAFIT, 2015-01-01) Cortés, Lina M.; García, John J.; Agudelo, David; lcortesd@eafit.edu.co; jgarcia@eafit.edu.co; dagude14@gmail.com
This study analyzes the effectof changes in corporate controlon the way shareholdersbenefit from the announcements of selling and buying airlines, thus contributing to the literature on mergers and acquisitions (M&As) in emerging markets. Using a methodologyof event study, including GARCH and OLS models, we find evidence that some selling companies obtain abnormal returns that are statisticallysignificant after the announcement of the M&A. However, when the merger is not strategic, the companies present statisticallysignificant negative abnormal returns. The resultsare not conclusive when analyzing the effecton the valueof the buying companies.
Extravagancias organológicas: una revisión de la iconografía musical en el arte latinoamericano contemporáneo
(Universidad EAFIT, 2015-12-04) Rodríguez Tabata, María Carolina; Universidad Central de Venezuela (UCV), Departamento de Musicología
Factors Relating go the Acqusition Of CQ Insights for the recruitmentand selection of interns and Young graduates form international Business Programs
(Auflage, 2016-05-09) Cristina Robledo Ardila; Aguilar, Sara; Serna, Maribel; Universidad EAFIT. Departamento de Administración; Administración y Organizaciones
Cultural Intelligence (CQ) has been defined as the ability of an individual to effectively interact in culturally diverse contexts (Earley & Ang, 2003), which may result in improved performance at the personal and professional level (Ang, Van Dyne, NG,
Factors Relating go the Acqusition Of CQ Insights for the recruitmentand selection of interns and Young graduates form international Business Programs
(Auflage, 2016-05-09) Cristina Robledo Ardila; Aguilar, Sara; Serna, Maribel; Universidad EAFIT. Departamento de Administración; Estudios Internacionales
Cultural Intelligence (CQ) has been defined as the ability of an individual to effectively interact in culturally diverse contexts (Earley & Ang, 2003), which may result in improved performance at the personal and professional level (Ang, Van Dyne, NG,

Examinando por Materia "Latin America"

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