Artículos de revistas
URI permanente para esta colecciónhttps://hdl.handle.net/20.500.12640/4067
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Ítem Acceso Abierto 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.Ítem Acceso Abierto Corporate governance in emerging markets and its impact on finance performance(Virtus Interpress, 2014) Lizarzaburu Bolaños, Edmundo; Berggrun, Luis; Burneo Farfan, Kurt JohnnyThis paper reviews the theoretical framework of Corporate Governance and multiple issues in which it is evaluated such as agency costs, asymmetric information, insider trading, manipulation of earnings, Board of Directors, etc. Finally, it is reviewed the impact of Corporate Governance over cost of equity, capital structure and financial performance.Ítem Acceso Abierto Effects of CSR and CR on business confidence in an emerging country(MDPI, 2020-06-26) Del Brio, Jesús; Lizarzaburu Bolaños, EdmundoCorporate social responsibility has been one of the main pillars of development for companies in developed countries and studies are being conducted for developed countries and the productive sector of the economy. Therefore, the main objective of this paper is to analyze the relationship between corporate social responsibility (CSR), corporate reputation (CR), and business confidence in the context of the banking sector in an emerging country (Peru). To test the hypotheses presented in this paper, we sent a survey to 1745 banking executive officers of the branch offices in Peru. These key individuals were selected as the target population of the study because the authors sought to study the management’s perception of CSR and business confidence. From the data obtained from the survey, it has been determined that the strategic consideration of CSR in Peruvian banks directly influences the perception of business confidence. Secondly, it has been demonstrated that the strategic consideration of CSR in Peruvian banks positively influences corporate reputation and, finally, the perception of the importance of the corporate reputation of Peruvian banks and significantly influences the perception of business confidence by the managers. The main contribution of this paper is that it analyzes empirically how business confidence is perceived by managers, who are the main agents involved in implementing CSR actions, based on their opinion of the strategic consideration of CSR and the perception of CR in a context barely investigated, an emerging country.Ítem Acceso Abierto Are employees well evaluated in their CSR actions? The perception of managers in an emerging country(Fundação Escola de Comércio Álvares Penteado, 2020-01-05) Lizarzaburu Bolaños, Edmundo; Del Brio, JesúsPurpose – This paper tests the influence of employees’ involvement in CSR activities on managers’ perceptions regarding business confidence. Design/methodology/approach – A quantitative methodology was used to contrast the hypotheses presented in this paper. The empirical research began in March 2016. In April 2016, a questionnaire was sent by email to the 1,745 managers of the multiple banks with a message explaining the relevance of the research. The data gathering process finished in July 2016. Findings – The causal model proved the influence of the perception of employees’ involvement in the CSR actions of Peruvian banks in terms of improving the perception of business confidence by managers. The relationship found was not statistically significant at a level of p<0.05. Therefore, the assessment of the involvement of workers in CSR in Peruvian banks does not significantly influence business confidence. Originality/value – The main contribution of this paper is that it empirically analyzes how business confidence is perceived by managers and how it is influenced by perceptions of employees’ involvement in CSR actions in a context barely investigated: an emerging country.Ítem Acceso Abierto CSR Actions in companies and perception of their reputation by managers: analysis in the rural area of an emerging country in the banking sector(MDPI, 2018-03-22) Del Brio, Jesús Ángel; Lizarzaburu Bolaños, EdmundoThis paper tests, from a managerial point of view, the influence of Corporate Social Responsibility (CSR) actions directed towards health and environmental matters over the perception of a company’s reputation. The literature review suggests an absence of this kind of study focused on the banking sector of developing countries. CSR activities oriented to health and subsistence in the rural areas of emerging countries are proved to hold a positive influence on the perception of managers of the banking sector of corporate reputation. On the other hand, it has not been possible to validate whether CSR activities oriented to environmental issues (or infrastructure) in rural areas will positively influence the perception of Peruvian banking sector managers of corporate reputation. The outcomes mentioned seem plausible due to health and subsistence being undoubtedly the most valued factors among people living in rural areas, where there are the most development deficiencies. This work contributes by empirically analyzing a relationship barely addressed in the field of business administration: the influence of CSR and corporate reputation. Furthermore, the authors take the analysis to a context unexplored by previous researchers, applying the concepts to the banking sector of an emerging country.
