JEFAS Vol. 17 Nº 32 (2012)

URI permanente para esta colecciónhttps://hdl.handle.net/20.500.12640/4119

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    Ítem
    Case Discussion Responsabilidad Social Interna en J-V Resguardo
    (Universidad ESAN. ESAN Ediciones, 2012-06-30) Jáuregui Keti; Arbaiza Lydia
    J&V Resguardo is a different security company oriented towards services in general but with personalized attention. Its workforce was highly motivated and skilled. The company managed to distinguish itself from the rest of its competitors thanks to the leadership with the social responsibility of its founders the brothers Pablo and Javier Calvo-Pérez. Practices to improve the quality of life in workers are divided into five dimensions: respect pride impartiality camaraderie and credibility. Each dimension includes a series of programs aimed at improving their development as a person.
  • Miniatura
    Ítem
    El peso mexicano: la gestión de cobertura del riesgo cambiario mediante la teoría de los efectos olvidados
    (Universidad ESAN. ESAN Ediciones, 2012-06-30) Salazar Garza, Ricardo
    This paper is about developing a nonlinear model to predict the behavior of future exchange rate based on the opinion of the economic agents participating in the dollar/peso market. Such views are treated with Fuzzy Logic and a variant of it, known as the Theory of Forgotten Effects. The aim is to find a mechanism for making coverage decisions that allow us an optimal exchange rate risk management at a lower cost than that which involves operations with traditional hedging instruments. For the period of investigation and applying this model, the results support that the collective opinions of economic experts involved in the decision making risk management of exchange rate provide better results than those using traditional methods in the future markets.
  • Miniatura
    Ítem
    Consideraciones para calcular el ratio precio-utilidad de la bolsa de valores de Lima: metodología y aplicaciones
    (Universidad ESAN. ESAN Ediciones, 2012-06-30) Pereda, Javier
    In this paper we construct a methodology to calculate the price-earnings ratio (PER) of the General Index of the Lima Stock Exchange (IGBVL) for the period 1995-2011 following Shiller (2005). Results show that equity prices, in the analyzed period, basically responded to the expected evolution of earnings of the companies, even during the period of the equity prices boom that preceded the financial crisis of 2008. This conclusion is reinforced when we calculate, following Hayford y Malliaris (2004), the implicit equity premia expected for stock investors. We find high values of equity premia during the period of stock prices boom, which would justify the high PER values registered in that period.