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Item Open Access Importancia del gobierno corporativo y estructura de capital en las empresas listadas en la Bolsa de Valores de Lima. Caso Alicorp(Universidad de los Andes, 2023-06-22) Lizarzaburu B., Edmundo R.; Burneo F., Kurt; Ostos M., Jhony; García, ConradoCorporate Governance is a tool to establish a balance between internal and external stakeholders (Torre, 2005). This document aims to share the conventions regarding corporate governance and interest groups, those that may be useful in the Peruvian context, as well as the impact of the application of good corporate governance practices on, besides the environment, profitability and organization benefits. In this sense, we propose that the correct management in the application of Corporate Governance will improve the performance of the company. The research will first present a theoretical framework on corporate governance and interest groups, followed by the study case carried out on the company Alicorp S.A.A. which contains, first, a description of the macroeconomic and domestic environment, followed by the analysis of Corporate Governance practices, stakeholder management and, briefly, the economic-financial performance of the 2010-2015 period.Item Open Access Corporate structure and prevention: The three lines model applied to Latin American companies(Virtus Interpress, 2024) Lizarzaburu, Edmundo; Burneo Farfan, Kurt; Camacho, Maria; García Gómez, Conrado DiegoThe economic environment in which enterprises operate is increasingly harsh and complex, making business more complex, volatile and uncertain. This context requires a change in the management model based on the three fundamental pillars of governance, risk management and regulatory compliance. In this sense, the presentation of the three-line model is considered particularly useful, as it has become one of the most recognized management tools internationally due to its flexibility and adaptability. Therefore, the purpose of this study is to examine the current literature on this management model and then analyze its applicability in business practice through a case study. In particular, the analysis of four companies in the Ibero-American energy sector (Petrobras, Codelco, Ecopetrol, and Iberdrola) reveals that, although the adaptation of the model is generally comprehensive and universal in all aspects, its flexibility is very Large allows adaptation to any organization’s needs and structure. Finally, the study draws some conclusions weighing the theoretical development of the three-line model and its applicability and usefulness to managers as well as researchers and legislators who want to strengthen national business structures.Item Open Access Discusión de los roles de las actividades de la empresa, los consumidores y los grupos de interés en el cambio del valor de las marcas(Escuela de Posgrado Newman S.A.C., 2023-01-30) Reynoso Espinoza, Deivit Wilfredo; Arbaiza Fermini, LydiaThis essay discusses some of the groups and roles that should be considered in the analysis of brand value changes. The active and passive roles that they have are considered: the activities of the company, the interest groups of the company and the consumers. The activities of the companies are linked to the value of the brands directly through their products, but especially through the experience, identity, and morality of their processes. Stakeholders add the perspective generated by the company's ethical image to the value of brands, such as environmental responsibilities, their integrity, and the creation of shared value. Consumers are the main modifiers of brand value. These not only link the value of the product acquired with the satisfaction of the need, but also add social constructs that identify, distinguish, and can classify companies, modifying their value, thanks to physical and virtual word of mouth (social networks). This essay is especially important because in recent years the number of companies whose brands exceed their traditional assets in value has increased, and additional analysis is needed to understand this phenomenon.Item Open Access Feedback dynamic control for exiting a debt-induced spiral in a deterministic Keen model(Public Library of Science, 2024-02-09) Perez Avellaneda, Ivan; Rosales, Francisco; Duffaut Espinosa, Luis A.The Keen model is designed to represent an economy as a dynamic system governed by the interactions between private debt, wage share, and employment rate. When certain conditions are met, the model can lead to a debt spiral, which accurately mimics the impact of a financial crisis on an economy. This manuscript presents a recipe for breaking this spiral by expressing Keen’s model as an affine nonlinear system that can be modified through policy interventions. We begin by considering critical initial conditions that resemble a financial crisis to achieve this goal. We then locate a desired point within the system’s vector field that leads to a desirable equilibrium and design a path towards it. This path is later followed using one-step-ahead optimal control. We illustrate our approach by presenting simulated control scenarios.Item Open Access Telemedicine in Peru: origin, implementation, pandemic escalation, and prospects in the new normal(Oxford University Press, 2024-01-12) Rees, Gareth H.For many countries telemedicine was speedily adopted as a result of the COVID-19 pandemic, though for some countries telemedicine may have been implemented in a context of limited regulations or few plans or strategies to scale quickly. This article recounts how telemedicine was developed in Peru as a measure to support the country's Universal Health Coverage and service access to rural and locations with low workforce numbers and its deployment. From a range of data, we find that Peru's development of telehealth began before the pandemic, which by 2020 was sufficient to be able to foster a rapid and wider deployment and while the telemedicine service volumes quickly grew from the pandemic onset, these numbers then begin to reduce suggesting that telemedicine was considered more as a pandemic emergency measure rather than a change to the mix of health provision. From these data we offer two lessons, (i) that Peru's preparedness in terms of telemedicine policy and regulation were helpful to rapidly expand telemedicine at a time of necessity and (ii) that due to this investment and with a better understanding, Peru now has a short-run window of opportunity for the Peruvian Government to continue its regulatory development and investment to further deploy telemedicine services as a UHC improvement measure and to better align the health system to the country’s health needs.Item Open Access Optimización de los motores de búsqueda en el afianzamiento de marca(Universidad de los Andes, 2024-01-13) Salas Coz, Erwin; Ostos, Jhony; Velazco Ramos, CarmenIntroduction: During the health crisis due to the pandemic, SMEs had not developed their brand on online internet channels, and they were forced to integrate into virtual commerce. Despite the efforts made by SMEs, they have low levels of virtual digitisation in relation to large companies. This paper aims to analyse the implementation of the Internet search engine optimisation (OMB) methodology in brand consolidation. Method: A case study was developed in a small company in Lima, Peru. The research results show that the OMB promotes brand consolidation, which means that the OMB methodology can be extended to other small companies to improve their brand positioning.Item Open Access Is Income Discrimination a Factor in the Recent Venezuelan Migration?(REFPress, 2023) Guillen, JorgeThe following paper analyzes income discrimination during the recent Venezuelan migration in Peru. We use the survey “Encuesta Dirigida a la Población Venezolana (ENPOVE)” in order to proceed with our assessment. The ENPOVE surveys were conducted in 2018 with 9,487respondents (3,611 houses).The survey enabled the collection of socioeconomic variables and discrimination perceptions of Venezuelan residents in Tumbes, La Libertad, Arequipa, Cusco, Lima, and Callao. The results allow us to investigate the Peruvian labor market for low-skilled immigrant workers.Item Open Access Segmentation by motivations in religious tourism: A study of the Christ of Miracles Pilgrimage, Peru(Public Library of Science, 2024-05-16) Carvache-Franco, Mauricio; Regalado-Pezúa, Otto; Carvache-Franco, Orly; Carvache-Franco, WilmerThe present study, focused on pilgrimages as part of religious tourism, aimed to achieve the following objectives: Identify the motivations of the demand for religious tourism focused on pilgrimages; analyze the segmentation of the demand; identify the relationship between demand segments with satisfaction and loyalty; and establish the sociodemographic aspects that characterize demand segments. The study was conducted during the Pilgrimage of the Christ of Miracles in Lima, Peru. The sample was taken on-site from 384 tourists. The statistical techniques used were factor analysis and the k-means clustering method. The results reveal five motivational dimensions: Religious Experience, Belief Experience, Escape, Touristic Experience, and Shopping. Three attendee segments were also identified: Believers, related to belief experience; Religious, related to religious experience; and Passive, tourists with low motivations. The Religious segment had the highest satisfaction and loyalty levels among these groups. Sociodemographic differences were also found in the demand segments. The findings will contribute to management guidelines for destination administrators with religious events and provide insights into academic literature.Item Open Access Economic-financial evaluation of a cement company: Cementos Pacasmayo(Universidad de Concepción, 2023-01-16) Lizarzaburu Bolaños, Edmundo; Burneo Farfán, Kurt; García-Gómez, Conrado DiegoPurpose: The aim of this paper is to address a company valuation procedure by explaining the steps that must be followed from an economic-financial perspective. Design/methodology: We employ the study case methodology to fulfill all the procedure stages. Specifically, we analyze the Peruvian cement company “Cementos Pacasmayo”. A 10-year discounted cash flow (DCF) is presented and brought to present value using a discount rate (WACC) composed by the cost of debt and the cost of capital of the company. Findings: We can conclude that the evaluation process should always include the country, industry and company. Practical implications: Our study provides useful implications for management. On the one hand, it is important to highlight the subjectivity to predict some parameters or doing assumptions. On the other hand, it is important to understand and know a good procedure to valuate a company as an insider or a potential investor. Originality/value: The proposed model consists of the economic studies of the country, sector and company, which allow the appraiser to specify certain parameters or assumptions for the elaboration of a model that approximates the value of the company.Item Open Access Factores que influyen en la rentabilidad de las micro y pequeñas empresas en tiempos de contingencia(Universidad Pablo de Olavide, 2024-06-20) Hernández Jiménez, Araceli; Cáceda Quispe, MarisolThe objective of this research is to analyze the factors that influence the profitability of Micro and Small Enterprises in Peru, in the face of the problems derived from Covid-19, with the purpose of contributing to the literature on the study of business behavior during crises, from the perspective of the contingency theory. In order to carry out the research, a quantitative study was carried out with a sample of 291 companies in the commercial and service sector in Lima, Peru. The results of the logistic regression analysis show that only two groups of variables were significant: environment and size, while the group of variables that influence technology was not significant in generating the profitability of the company.Item Open Access Evaluación del desperdicio de alimentos: normas y acciones para fomentar la circularidad en Perú(Pontificia Universidad Católica del Perú, 2024) Huiman Cruz, AlbertoPopulation growth generates a greater demand for food, thus increasing food waste. The fight against this problem began in several countries with strict regulations managing food waste. In the case of Peru, an analysis of progress in the field is presented. The objective of the article is to analyze the management of food waste in Peru and worldwide, both in terms of regulations and current situation; for this purpose, a bibliographic review was conducted taking into account the guidelines of circularity in food. The results obtained demonstrate deficiencies in both Peruvian and global regulatory frameworks, with the exception of Europe. The increase in food waste generation was analyzed globally in households, retail establishments, and the service industry. Countries share concerns about the increase in waste and seek to align themselves with the circularity model. In the case of Peru, this implies modifying and improving regulations with the involvement of relevant stakeholders. Therefore, actions are proposed to promote circularity in food management with a sustainability vision, such as proposals for national actions and basic principles, with collaboration between industries, government, and civil society.Item Open Access Determinants of Short- and Long-Term Commercial Lending Rates in Peru, 2010–2022(Vilnius University Press, 2023-12-27) Bravo Orellana, SergioShort- and long-term interest rates are crucial for investment and, thus, business dynamism. The injection of money depends on the ability to promote cash flows through credit which boosts productive sectors. In the last decade, among Latin American countries, Peru has stood out for its key financial system and macroeconomic stability characteristics. The Central Reserve Bank of Peru (BCRP) plays a key role in setting the reference rate given its autonomy and strong institutional trust. However, the mixed pension system injects liquidity into the financial system through its private contributions. For the purposes of this study, an autoregressive econometric model of distributed lags (ARDL) was employed. The findings reveal that the reference rate set by the BCRP establishes a long-term relationship for both short and long-term rates, empirically demonstrating the effectiveness of monetary policy. Additionally, the liquidity provided by the pension system triggers an immediate shock response in determining the short-term rate. It is also observed that the issuance of sovereign bonds is a robust tool in determining the long-term rate due to its facilitation of credit access. This research is relevant for identifying macroeconomic and financial variables and guiding the formulation of macroeconomic policies.Item Open Access Integrando la conservación de la biodiversidad en la toma de decisiones a nivel local: un estudio de la disposición a pagar en el parque nacional Yanachaga-chemillen(Universidad Autónoma de Chile. Instituto Chileno de Estudios Municipales, 2023-10-30) Mogollón, Raymundo; Orihuela, Carlos; Diaz, Sabrina; Dávila, JoséUnderstanding the willingness to pay for biodiversity conservation improves the decision-making process for local governments in countries like Peru, characterized by ineffective development of public policies to protect the environment. During the first quarter of 2020, 2,414 surveys were conducted to measure the willingness to pay for biodiversity conservation in the Yanachaga-Chemillén National Park, in Peru. The results revealed that the willingness to pay is approximately $6 per household, which is relevant not only because it provides information on how the local population values this aspect but also because it has direct implications for the formulation and implementation of environmental conservation policies in the region.Item Open Access Effect of negative emotions in consumption during the COVID-19 pandemic: A study from Peru(PLOS, 2023-11-03) Regalado-Pezúa, Otto; Carvache-Franco, Orly; Carvache-Franco, Mauricio; Carvache-Franco, Wilmer; Ortiz-Soto, Maribel; Larregui-Candelaria, GuisellThe research examines the negative consumer emotions generated by the perception of social networks or traditional media with consumer behavior during the covid_19 pandemic. The study was developed in Peru with a sample of 220 consumers; the design is quantitative and structural equations were used for data processing. The results indicate that social networks and traditional media are not related to negative emotions, but are related to the change in consumer behavior in the purchase of more products and new products. The research has theoretical implications since it provides evidence to the literature that the negative emotions generated during the covid_19 pandemic are related to changes in consumer behavior, which affect the purchase of more products and new products. The practical implications of the research is for businessmen on the causes of changes in consumer behavior generated during crises. like the COVID-19 pandemic.Item Open Access COVID 19 effect on Venezuelan migrants’ income: the Peruvian case research study(Kubilay özyer, 2023) Guillen, Jorge; Arbaiza, LydiaThis paper shed light on analyzing the effect of the Pandemic on Venezuelan Migrants’ Income in Peru. The Covid 19 Pandemic (Coronavirus Pandemic) enforced governments to apply the “Hammer Blow” which produced recession and consequently unemployment. Governments offset the latter effect by applying some subsidies to the Poor. The subsidy was not delivered to Venezuelan Immigrants in Peru. Therefore, our study attempts to explore the effect of the Coronavirus Pandemic on the Income of Venezuelan Immigrants. The study controls for gender and discrimination. Since 2017, the economic and political situation in Venezuela triggered migration beyond their frontiers. Peru is the second country with the high migration of Venezuelans, the first is Colombia which is the neighborhood. The migration reduced the labor force in the country that receives the population but in some cases, the delinquency rates increased after the wave of Venezuelans relocated to a particular country. We consider the survey: “Encuesta Nacional de la Población Venezolana en Peru” (ENPOVE) to perform the study which was conducted during the peak of migration.Item Open Access Institutional investors and corporate risk at the origin of the international financial crisis(Virtus Interpress, 2023-11-23) Lizarzaburu, Edmundo; García-Gómez, Conrado Diego; Kostyuk, AlexanderThe 2007 financial crisis served as a stark reminder of the vulnerability in the relationship between institutions and companies, as it revealed that many companies collapsed despite government interventions. Two crucial factors that influenced the crisis’s impact on firms were the level of creditor rights protection and corporate risk management. In this study, our aim was to investigate the impact of investment funds and banks on corporate risk prior to the 2007 financial crisis. We conducted an analysis across 21 countries to examine how institutional factors determined the influence of mutual funds and banks on corporate risk, ultimately leading to critical levels of collapse and the global spread of the financial crisis to the real economy. Additionally, we explored the role of mutual funds and banks as reference shareholders. The findings of our study reveal that the process of financial deregulation preceding the 2007 financial crisis contributed to an increase in corporate risk. In other words, financial deregulation facilitated greater involvement of institutional investors in companies, thereby encouraging the adoption of excessively risky and speculative strategies that were not necessarily aligned with the long-term sustainability of firms.Item Open Access Perceived value and its relationship to satisfaction and loyalty in cultural coastal destinations: a study in Huanchaco, Peru(PLOS, 2023-08-01) Regalado-Pezúa, Otto; Carvache-Franco, Mauricio; Carvache-Franco, Orly; Carvache-Franco, WilmerCoastal tourism offers a wide variety of activities related to nature and culture in a sustainable environment. The present study in a coastal destination with cultural characteristics aims to (i) establish the dimensions of perceived value, (ii) determine the relationship between perceived value and satisfaction, and (iii) identify the relationship between perceived value and loyalty in variables such as return, recommendation, and word of mouth in a cultural coastal destination. This quantitative research used a sample of 384 valid questionnaires collected in Huanchaco, Peru, a city next to the Pacific Ocean, being a coastal destination with cultural potential. Factor analysis and multiple regression were applied for data analysis. The results show three dimensions of value perceived by tourists in coastal destinations: emotional and social value, economic value, and functional value. Of these, emotional and social value is the most salient predictor of tourist satisfaction and loyalty. These results will serve as management guides for cultural coastal destination managers and contribute to the academic literature.Item Open Access Application of neural networks in the teacher selection process(Elsevier, 2023-01-31) Ovalle, Christian; Auccahuasi, Wilver; Meza, Sandra; Cordova-Buiza, Franklin; Rojas, Karin; Cosme, Miryam; Inciso-Rojas, Miryam; Aiquipa, Gabriel; Campos Martínez, Hernando Martin; Fuentes, Alfonso; Auccahuasi, AlyThe information and communications technologies are revolutionizing the classic ways of carrying out the processes, in particular, for the teacher selection processes we have the classic form of evaluation, according to the criteria of each educational institution, in the present work it is presented a teacher selection model, using neural networks, using 3 criteria and 23 characteristics, which are entered into individual networks for each criterion and additionally a network for the final classification, is presented based on a prototype, an application developed with the computational tool Matlab, which is described in detail for its application and scaling, for purposes of measuring the performance of the network, evaluations were carried out with a group of 30 candidates, grouped into two groups, a group of 15 candidates with positive conditions complying with the policies of the educational institution and a second group with candidates who do not meet the policies of the educational institution, with which sensitivity values of 93% and a specificity level of 86% were obtained, we conclude that the model presented can be replicated and conditioned to the needs and policies of each educational institution.Item Open Access Muscle temperature analysis, using thermal imaging, applied to the treatment of muscle recovery(Elsevier, 2023-01-31) Ovalle, Christian; Auccahuasi, Wilver; Meza, Sandra; Cordova-Buiza, Franklin; Rojas, Karin; Cosme, Miryam; Inciso-Rojas, Miryam; Aiquipa, Gabriel; Campos Martínez, Hernando Martin; Fuentes, Alfonso; Auccahuasi, AlyThe images help in the different processes where a visual interpretation of a scene is required, in this sense we find many applications where images are used to analyze, interpret and classify certain objects within the image, there are different types of images generated by different sensors, in this paper describes a method to analyze the behavior of the muscle, mainly of the knee, when performing rehabilitation exercises, coupled with an optical image where you can see the state of the muscle and the location, the method proposed as a super position between optical and thermal images, with the intention of being able to know the state of the optical image and to have the same image with information of the behavior of the temperature, the super position that we propose is to have as a base the optical image and on placing the thermal image, the results that are presented are oriented in proposing a new way of analyzing data with thermal information of the behavior of the muscles, by means of a complex image with optical and thermal information, the method is an aid in the treatment of muscular recovery, with the benefits of being scalable and applicable to other muscles and parts of the human body.Item Open Access Determinants of inclusive economic growth in Latin America(WSEAS, 2023-05-19) Angulo-Bustinza, Harold; Florez-Garcia, Wilmer; Calderon-Contreras, Valentín; Peña-Cobeñas, Dagoberto; Barrientos-Moscoso, Madeley; Zeballos-Ponce, ValeriaThe work aims to identify the determinants that influence inclusive economic growth in Latin America. The study’s methodology is quantitative with a nonexperimental design, for whose effect analysis was developed through a panel data model to identify the determinant variables of inclusive economic growth. Annual data of the main macroeconomic and social variables were used for a sample of 14 Latin American countries (Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, Ecuador, El Salvador, Honduras, Mexico, Panama, Paraguay, Peru, and Uruguay); the study horizon comprises 25 years, between 1995 and 2019. The following variables were found to have a direct influence on inclusive economic growth: public spending and international trade; the study also showed that inflation, unemployment, and the presence of crises have a negative impact on inclusive economic growth. Moreover, an additional public expenditure of 1% implies an increase of 0.100% in inclusive economic growth, and for each positive variation of 1% in international trade, inclusive economic growth responds with an increase of 0.144%.
