Examinando por Materia "Tesis. Doctorado en Administración"
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Publicación El prisma estructural : una configuración para las acciones estratégicas institucionales; el caso argos en el entorno colombiano, 1960-2007(Universidad EAFIT, 2012) Londoño Correa, Diana; Garzón Díaz, CésarThis dissertation is guided by questions about the formal institutions that companies seek to intervene and about the organizational structure from which they undertake these actions. Such questions arise from the intersection of the fields of strategy in management and institutional change in New Institutional Economics (NIE). This work analyzes, in a retrospective approach, the case of Argos, a cement company in the Colombian environment, between 1960 and 2007. The results contribute to the field of Corporate Political Activity (CPA), and they show how companies deal with two kinds of formal rules: those that guarantee property rights and those aimed at business regulation. Also, there are two different stages: definition of the rules and their application. Within this framework of classes and stages, nine corporate strategic actions were identified: to bring to attention, to support, to participate, to solicit, to promote, to modify, to lock, to secure, and to demand. As to the organizational structure from which companies intervene, a spectrum structure was identified. This spectrum structure offers a variety of operational alternatives from which the company selects the most appropriate for the specific corporate strategic action.Publicación Facilitadores de la creación de conocimiento organizacional(Universidad EAFIT, 2012) Robledo Fernández, Juan Carlos; Ponce Sagredo, SilviaPublicación La reputación del tendero de barrio ante su mercado y sus consecuencia(Universidad EAFIT, 2012) Sanclemente Téllez, Juan Carlos; Baby Moreno, JaimePublicación Los aportes de la teoría crítica a la construcción de un concepto complementario de responsabilidad social : contrastación en prácticas empresariales de Barranquilla(Universidad EAFIT, 2011) Mejía Reátiga, Camilo; Toro Jaramillo, Iván DaríoThis doctoral research presents the results related to the contributions of critical theory to the construction of the concept of Social Responsibility, contrasting business practices in Barranquilla. This thesis has collected in detail the state of the art about the research problem, Social Responsibility, and developed the key assumptions of Critical Theory (CT) as a basis for a complementary foundation for Social Responsibility (SR). The research results were incorporated into field work (which includes four phases that are described in the research methodology chapter) through tables, graphs, frequency and comparative analysis of the collected data, the empirical evidence of the business practices of large firms in the city of Barranquilla. Finally, this thesis presents a proposal for a complementary foundation of social responsibility, contrasted with the business practice, from a conceptualized vision and elements derived from Critical Theory. Likewise, included spaces left open for future research, from the development of this doctoral research.Publicación Three essays on risk management in electric power markets(Universidad EAFIT, 2011) Pantoja Robayo, Javier OrlandoThis dissertation has arisen in the context of the electric power markets, the study of risk management and the relations between physical production and the electricity transactions using financial contracts in particular. Electricity is very difficult to compare with any other commodity, since it has a peculiar characteristic; electricity “must be produced at exactly the same time as it is consumed”. The technological inability to store electricity efficiently and the characteristics of marginal production costs create jumps in the spot price. The electricity power market is heavily incomplete. Load-matching problems occur because electricity prices show volatility because of unexpected variations due to climatic conditions and other associated risk factors. A branch of the literature in risk management has tried to give a definitive answer to the question of how agents in the markets with non-storable underlying asset could hedge their exposure to volatile price and quantity. The first essay tackles the basis of this question, which is the implication of the price of risk when forward risk premia are presented. This essay also shows how the properties and variations of forward risk premia is explained by risk factors variations on expected spot prices, and unexpected changes on the available quantity of water to generate electric power. Forward risk premia are the measure, hour by hour throughout the day, of the price of risk that the agents pay to trade electric power using forward contracts. In this essay forward premia were measured from the unregulated market segment. The results indicate that the average expected forward risk premia could have a positive behavior in seventeen out of twenty-four hours. These results represent the equilibrium compensation for bearing the price risk of the electric power for one year. In the Colombian market, the risk taker is the marketer, specifically in the unregulated market segment, because they are assuming the price risk in the long-term negotiations. The marketer, represented by this demand, tries to ensure their future Profit and Losses P&L and so they sacrifice their premia. It is relevant for further studies to evaluate the efficiency of this market, and the characteristics to determine why the marketer is willing to pay forward risk premia and why the generator has a better position to receive this bonus. Exploring the optimization problem of portfolios my second essay asks whether the agents in the electric power market could hedge their exposure to uncertainties; price and quantity. We propose a close form solution for the optimization problem of portfolios composed by two claims, price and weather, according to factors influencing electric power markets such as price volatility, price spikes, and climatic conditions that influence volume volatility. Results show a positive correlation among price, quantity, and the weather variable. In order to apply the optimal static hedging that includes the second claim on weather indexes for seasonal countries such as United States and tropical countries such as Colombia, the third essay shows an application of the static hedging model, using parameters from US market(PJM), and Colombian market (WPMC2). For the PJM, I used weather indexes from Chicago Mercantile Exchange Group, and the hydrological index from WPMC which is based on the hydrological contributions of rivers on dam levels. We verify that El Niño and La Niña phenomena also influence quantity variations, and the agents in those markets are exposed to both price and quantity volatiles.