Journal of Economics, Finance and Administrative Science
URI permanente para esta comunidadhttps://hdl.handle.net/20.500.12640/4090
La Journal of Economics, Finance and Administrative Science (JEFAS), de la Universidad ESAN, es una publicación académica de acceso abierto que presenta investigaciones revisadas por pares en administración, economía y finanzas, con un enfoque en el contexto latinoamericano e iberoamericano. Fundada en 1992 como Cuadernos de Difusión, en 2009 cambió de nombre a su actual denominación como JEFAS. Ha evolucionado en colaboración con importantes editoriales, como Elsevier y actualmente Emerald Publishing. La revista publica investigaciones de alta calidad sin costo para los autores, con el respaldo de ESAN y su compromiso con la difusión del conocimiento científico y académico, y la práctica gerencial.
Examinar
122 resultados
Resultados de la búsqueda
Ítem Solo Metadatos Global strategies for domestic firms in emerging economies in a world of multinationals: toward a model(Universidad ESAN. ESAN Ediciones, 2002-12-30) Li, MingfangAn issue little studied in the field of global strategic management is that of the strategies that local companies in emerging economies must adopt to effectively face the challenges of a globalized economy replete with multinationals. This article explores key dimensions of local business strategies, reviews the main elements of business strategies, corporate strategy, global orientation and the mixture of competitive approaches. It then integrates these dimensions and strategic elements into a conceptual framework that identifies viable types of strategies so that local companies in emerging economies can compete effectively with their powerful and resource-rich counterparts. The research considers previous contributions, limitations and future lines of research.Ítem Solo Metadatos Enterprise UNIONISM in crisis in Japan(Universidad ESAN. ESAN Ediciones, 2004-06-30) Suzuki, HiromasaDuring the last decades, the unionization rate in Japan has been decreasing, while new forms of employment and outsourcing practices are imposed. In this context, the author analyses whether trade unions can continue to be considered legitimate representatives of workers and if they are responding to their aspirations. The first part of the work examines the achievements of trade unionism in companies between 1945 and 1980, while the second part exposes the problem areas identified since in 1991 the economic conditions of Japan changed substantially as a result of global competition and, in As a consequence, the companies restructured their activities, which included a reduction in employment and new locations in China.Ítem Solo Metadatos Factors influencing the adoption of microenterprises and their impact in rural Guatemala(Universidad ESAN. ESAN Ediciones, 2004-12-30) Gennrich, NicolasThere is a growing consensus that non-agricultural income represents an important source for household support in rural areas, as the resources from agricultural production are insufficient. One wonders to what extent microenterprises (MEs) help to fight poverty and what factors motivate households to form an ME. The present investigation was carried out in El Quiché, Guatemala, a province very affected by extreme poverty, malnutrition and disintegration, due to the civil war that lasted 36 years. It is found that ME is the most significant factor in household income, but unlike what is expected, its effect on housing and nutrition is limited. Regarding the significant factors in the decision to form a ME, they include human capital, social capital, types of crops and market access. The work also explores the effect of collective activities, such as commercialization, on the development of the ME, since the implementation of fairs and community stores contributes considerably to the reduction of transaction costs and the expansion of the market.Ítem Solo Metadatos The relevance of using accounting fundamentals in the Mexican stock market(Universidad ESAN. ESAN Ediciones, 2013-10-30) Dorantes Dosamantes, Carlos AlbertoThis paper examines the value relevance of accounting fundamentals in the Mexican Stock Market ([BMV] – Bolsa Mexicana de Valores). The research question that motivated the paper was: Can accounting fundamentals provide relevant information to better understand firm value? More specifically, the paper examines whether the application of an accounting fundamental strategy to select stocks of a portfolio can systematically yield significant and positive excess market buy-and-hold returns after one and two years of portfolio formation. Based on valuation theory, accounting research and the maturity level of the BMV, a set of accounting fundamental signals is proposed that reflects information that influences security prices, but not necessarily in a timely manner. Using quarterly financial and market data from 196 BMV stocks from 1991 to 2011, it is shown that after controlling for earnings, book-to-market ratio and firm size, the fundamental strategy proposed here provides value information relevant to investors. The relationship between the accounting fundamental signals proposed and the buy-and-hold market future return (one-year and two-year returns) is significant and positive considering the 1991-2011 period. Portfolios formed with high scores of these signals show an average of 1.62% market excess annual return between 1991 and 2011, and about 9% between 1997 and 2011. Besides the practical implication of the findings –e.g. the possibility mispriced securities– this paper contributes to the scarce accounting research in Latin American capital markets by furthering understanding of the “post-earnings” drift phenomenon in the BMV.Ítem Solo Metadatos Cross-cultural construct complexity: an initial empirical analysis of Perú(Universidad ESAN. ESAN Ediciones, 1999-12-30) Luque, Mary Sully de; Matute, GenaroCross-cultural scholars continually request empirical research that broadens the complexity of culture. We examine the effects of culture following the broad conception of cultural constructs as cultural syndromes that are multifaceted. Based on past theoretical and empirical research, this study identifies three cultural syndromes, Individualism Collectivism, Tolerance for Ambiguity and Status Identity, with the objective of utilizing original and existing conceptually sound measures of these constructs. The dimensionality of these constructs was assessed through the development and analysis of responses from a sample 0f226 Peruvian managers and experienced employees. Results provide support for the multi-dimensionality of these dimensions.Ítem Solo Metadatos An empirical study of the relationships betwen corruption, capital leakages and country risk: part I(Universidad ESAN. ESAN Ediciones, 2006-06-30) Bouchet, Michel; Groslambert, BertrandThis paper investigates the relationship between corruption and capital flight in developing countries. Part I tackles the challenge of defining and measuring capital flight, as well as the various root causes of expatriated savings. Our research contributes to the corruption and capital market literature in several ways. First, the issue of capital flight has attracted less attention than that of external capital inflows in emerging market countries. In particular, capital flight has kept a low profile in academic circles until the late 1990s. In addition, research often looks at capital flight as a portfolio issue, and very few studies consider corruption as a «push factor». Second, our paper looks at why capital flight deserves renewed interest, as the globalization of financial markets broadens investment diversification opportunities for domestic residents. Increasingly, official agencies express concern regarding the recycling of generous development aid flows and heavy borrowing in the international capital markets outside the developing countries’ economies. In the aftermath of the G-7 1996 Cologne meeting, larger and broader debt relief, coupled with a strong emphasis on sustainable development policies, focuses on the urgency of capital flight repatriation. Third, we assume that corruption combines two kinds of centrifugal forces for capital leakages: corruption-driven money leaves a country because of fear of being caught by the tax and judiciary authorities; in addition, money leaves a country because of fear that a corrupt government will not provide a stable and conducive environment for safe savings and profitable investment. In Part II of our research, we test the assumption that the higher the level of corruption, the less conducive the national environment for private investment, and the greater the capital leakages.Ítem Solo Metadatos Developing economies and the Asia-Pacific economic cooperation forum-APEC: intrabloc trade and attraction of foreign direct investment from region(Universidad ESAN. ESAN Ediciones, 2008-06-30) Rodríguez, ChristianSince one of the main goals of the APEC is to facilitate the international trade and investments among its members, it is said that taking over APEC presidency (as Peru in 2008), will contribute to foster trade and attract investments from member economies. But, is there any pattern which allows quantifying the benefi ts resulting from this kind of commitment? After evaluating the trade statistics of APEC developing economies ever since the creation of the Forum in 1989, it can be inferred that presiding APEC does not guarantee an increase in its trade with the rest of APEC economies. Right after hosting the summit, its imports grow higher compared with its exports, but there is not any conclusive information on the growth of foreign direct investment (FDI). Nevertheless, even though the growth of trade and FDI attraction from APEC other member economies does not rely exclusively on taking over the Forum’s Presidency, this commitment is a unique opportunity to promote trade with the planet’s most important economic bloc.Ítem Solo Metadatos International law and the role of APEC in the gobernance of economic cooperation within the Asia Pacific region(Universidad ESAN. ESAN Ediciones, 2008-06-30) Davidson, Paul J.The cumbersome administrative process of trading in the Asia Pacifi c region has lead to propose the creation of a Free Trade Area of the Asia Pacifi c Region (FTAAP), as part of the governance structure. In this respect, the Asia Pacifi c Economic Cooperation (APEC) would play a major role regarding the setting of guidelines for economic cooperation and a free and open approach to investments. It is also provided that APEC’s legal framework may be applied to the economic activities which have not been regulated by other international agreements, offering advantages as adapting to the real conditions of each state and the standardization of the already existing regulations. However, this non-binding framework, (soft law), does not foreclose, but complements the OMC’s binding legal framework (hard law).Ítem Solo Metadatos ADR effects on domestic Latin American financial market(Universidad ESAN. ESAN Ediciones, 2010-06-30) Mendiola Cabrera, AlfredoThe purpose of this paper is to revisit and extend previous research work that examines the ADR-listing effects on the trading process of all the domestically-listed stocks in the main Latin American exchanges. The most important result is consistent with the idea of a greater isolation (from global markets) of the singly-listed stocks in the post-cross-listing period. These results persist over the cross-listing months. As expected, the cross-listed stocks become more integrated in the post-cross listing period.Ítem Solo Metadatos Determinants of strategic risk management in emerging markets supply chains: the case of Mexico(Universidad ESAN. ESAN Ediciones, 2010-06-30) Lassar, Walfried; Haar, Jerry; Montalvo, Raúl; Hulser, LeslieRisk mitigation in global supply chains has grown in importance in recent years, in tandem with globalization and both the commercial and security threats faced by firms both large and small. This study hypothesizes that a firm’s ability to manage risk strategy— and therefore support its competitiveness—is determined by a symbiotic triad of factors: the resources it utilizes; network systems; and performance criteria it employs. The study, comprising 24 in-depth interviews with electronics and IT firms, examines resource utilization through the Resource-Based View (RBV), assesses firms’ proclivity to engage in networks for risk mitigation and competitiveness; and highlights the importance of performance evaluation as a critically important component in supply chain management. Findings reveal that both buyers and suppliers believe that the symbiotic triad can provide them with a competitive advantage in addition to improving operational efficiency, effectiveness and quality. Future research should also extend this pilot investigation to other countries and industries, and utilize a larger sample of firms for quantitative as well as qualitative assessment.
