JEFAS Vol. 14 Nº 27 (2009)
URI permanente para esta colecciónhttps://hdl.handle.net/20.500.12640/4114
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Ítem Solo Metadatos Derivatives usage by non-financial firms in emerging markets: the Peruvian case(Universidad ESAN. ESAN Ediciones, 2009-12-30) Martín, Miguel Angel; Rojas, Wolfgang; Eráusquin, José Luis; Yupanqui , Dayana; Vera, ÉdgarFinancial derivatives markets have reached a remarkable development in recent years but this pattern has not attained the same strength in developing countries. In consequence an important question arises: what is the development degree of financial derivatives markets in emerging countries and which variables influence the use of derivatives in the top companies? To analyze this topic Peru has been chosen as a reference and the Non-Financial Firms as well. In order to enhance objectivity an empirical study has been conducted through a structured survey directed to chief financial managers of companies classified among the TOP 1000 in the country. This information was collected in order to explain the effect of the determinants that influence the development of financial derivatives in Peru. The results show that the use of derivatives in Peru is low and the relevant factors affecting its development are the degree of training in derivatives and the market regulation. This outcome suggests that there should be patterns of behaviour for market agents and government entities to promote the use of derivatives as well as provide information for future research that might contribute to establish the most adequate mechanisms for market-development purposes.Ítem Solo Metadatos Effectiveness measurement: when will we get it right?(Universidad ESAN. ESAN Ediciones, 2009-12-30) Dwyer, Rocky J.Credible demonstration of policy or program impacts depends on understanding the distinction between inputs outputs outcomes and indicators. Moreover in order to be trusted public reports on a programs' performance need to focus more selectively on identifying the key measures of performance. In the first place the aim of the article is to provide those involved in the practice of program evaluation with enhanced understanding of the current literature reports and documentation on estimating impacts and results of government programs and policies. Secondly it is designed to share definitions and guidelines used to determine economic impacts. Finally this article includes current best practices involved in measuring incremental impacts all of which we contend enable program evaluation staff providing them with new ways of approaching measurement effectiveness and accountability in a strategic and comprehensive manner.Ítem Solo Metadatos Green management: the reality of being green in business(Universidad ESAN. ESAN Ediciones, 2009-12-30) Tran, BenGreen management and going green are not as clear cut and easy as hyped by the general media. While going ecologically green is indeed beneficial and appropriate the process and procedure of becoming green is anything but easy. Firstly turning green is largely not a legal requirement but a voluntary process. Thus even though LEED (which is by far the more publicly known green certification standard) governs the certification of the green management effort it is not a compulsory condition for practitioners to go green. Secondly even with the encouragement of incentives to comply practitioners are skeptical in becoming green due to: (a) a lack of true understanding of the benefit of ecologically friendly procedures (the practice of profits versus the theory of benefits); (b) lack of short term gain in life cycle costing (practitioners want instant incentives); and (c) mostly because it is not a legal requirement for the vast majority of municipalities.
