Pub Date : 2019-11-04DOI: 10.1108/arla-03-2019-0072
César Augusto Giraldo-Prieto, Cristina de Fuentes, Francisco Sogorb-Mira
The purpose of this paper is to identify whether Latin American (LA) firms are adopting any hedging strategy when designing foreign exchange risk (FXR) measures. To that end, the authors explore the impact of several drivers of FXR management.,The sample consists of 342 non-financial listed firms established in a group of representative countries of the LA region and covers the period from 2008 to 2016. Hypothesis testing is performed through a Logit model that measures the likelihood to adopt hedging practices. In addition, a Tobit test offers further insights into the derivatives users.,The authors corroborate capital structure-related hypotheses such as tax goals, financial distress, liquidity and growth opportunities. In addition, both ownership concentration and income tax payable seem to be negative and significant determinants of FXR coverage.,Results reported in this study are relevant for the LA region with high tradition in raw materials and commodities exports. The results show that LA firms still make limited use of derivatives and there is still much room for improvement. Hence, additional efforts to promote FXR hedging should be desirable, to meet authorities’ recommendations (OECD et al., 2007). Further research exploring corporate governance relationships and differences between large and small firms might be helpful.,Este estudio tiene como objetivo identificar si las empresas Latinoamericanas (LA) estan adoptando alguna estrategia de cobertura frente al riesgo de tipo de cambio (FXR). Para ello exploramos el impacto de varios determinantes de gestion de FXR.,La muestra esta formada por 342 empresas del sector no financiero de un grupo representativo de paises latinoamericanos y abarca el periodo 2008 a 2016. Para testar las hipotesis se aplican modelos Logit que miden la probabilidad de adoptar diferentes practicas de cobertura. Adicionalmente, los resultados de la aplicacion de un modelo Tobit ofrecen informacion extra sobre los usuarios de derivados.,Corroboramos las hipotesis relacionadas con la estructura de capital, tales como objetivos fiscales, dificultades financieras, liquidez y oportunidades de crecimiento. Ademas, tanto la concentracion de propiedad como los impuestos sobre la renta por pagar parecen ser determinantes negativos y significativos de la cobertura de FXR.,Los resultados reportados en este estudio son relevantes para la region Latinoamericana con una gran tradicion en exportaciones de materias primas y productos basicos. Nuestros resultados muestran que las empresas Latinoamericanas utilizan de manera limitada los derivados y todavia hay mucho por mejorar. Por lo tanto, es deseable la promocion de esfuerzos adicionales en cuanto a la cobertura de FXR para cumplir con las recomendaciones de las autoridades (OECD, 2007). Entre otras, serian de gran ayuda las investigaciones adicionales que exploren factores adicionales de Gobierno Corporativo (CG) asi como profundizar en las diferencias entre empresas grande
本文的目的是确定拉丁美洲(LA)公司在设计外汇风险(FXR)措施时是否采用任何对冲策略。为此，作者探讨了FXR管理的几个驱动因素的影响。样本包括342家成立于洛杉矶地区代表性国家的非金融类上市公司，时间跨度为2008年至2016年。假设检验是通过Logit模型进行的，该模型测量采用套期保值做法的可能性。此外，Tobit测试提供了对衍生品用户的进一步了解。作者证实了与资本结构相关的假设，如税收目标、财务困境、流动性和增长机会。此外，所有权集中度和应缴所得税似乎都是FXR覆盖率的负面和重要决定因素。本研究报告的结果与具有高传统的原材料和商品出口的洛杉矶地区有关。结果表明，洛杉矶公司对衍生品的使用仍然有限，仍有很大的改进空间。因此，为了满足当局的建议(OECD等人，2007年)，应该进一步努力促进FXR对冲。进一步研究公司治理关系以及大公司和小公司之间的差异可能会有所帮助。例如，Este estudio tieno目标确定了拉丁美洲(LA)国家采用的alguna战略(cobertura - bertura - riesgo - tipo - de cambio (FXR))。Para ello探讨了各种因素对FXR消解的影响。2008年至2016年期间，拉丁美洲国家和地区金融部门的342个国家和地区代表的报告。在不同的实践条件下，采用不同的逻辑概率模型来实现不同的逻辑概率。此外，在Tobit模型下，丢失的结果会导致应用程序的丢失，而通常情况下，丢失的信息会导致派生程序的丢失。确证了资本结构、共同财政目标、财政困难、机会流动性和金融危机之间的内在关系。结果表明，在FXR光谱分析中，浓度的变化与浓度的变化有显著的负相关关系，而浓度的变化与浓度的变化有显著的负相关关系。报告的结果是，在拉丁美洲相关地区，拉丁美洲与主要产品出口的重大传统有关。拉丁美洲国家的新结果是，拉丁美洲国家利用了有限的土地资源，今天的衍生品是通过许多贫穷的纪念来实现的。穷穷穷穷穷穷穷穷穷穷穷穷穷穷穷穷穷穷穷穷穷穷穷穷穷穷穷穷穷穷穷穷穷穷穷穷穷穷穷穷穷穷穷穷穷穷穷穷穷穷穷穷穷穷穷穷穷穷穷穷穷穷穷穷穷穷穷。在不同的情况下，政府和企业(CG)在不同的情况下有着共同的深刻的差异。
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Pub Date : 2018-05-17DOI: 10.1108/ARLA-04-2017-0093
Camelia Ilie, Guillermo Cardoza
Purpose Many studies have analyzed how gender diversity and local culture condition the cognitive styles of managers and affect decision-making processes in organizations. Gender diversity has been defended from an equality perspective; it has been argued to improve decision-making processes and to have a positive impact on companies’ return on investment. The purpose of this paper is to analyze the differences between the thinking styles of men and women, in Latin America and the USA that support decision-making processes. An argument is given in favor of gender diversity in management teams, because of its positive implications in decision making. Design/methodology/approach The measurement instrument used was the Neethling Brain Instrument, developed based on recent neuroscience discovery. The sample comprised 1,216 executives from the USA and several countries in Latin America and the Caribbean, who have participated in executive training programs. Findings The results show differences in thinking styles by gender, but no differences were found in thinking styles or decision making between men and women at the same managerial level in either of the two regions. Similarly, results suggest that executives in the USA tend to base their management models on strategic thinking styles that focus on interpersonal relations and involve risk taking, while executives in Latin American countries tend to prefer thinking and management styles focusing on data analysis, execution, planning, and process control. Originality/value The results of the present study show that, in all regions, men score higher in rational thinking styles associated with the cortical areas, while women gravitate toward thinking styles where emotional schemes prevail, related to subcortical areas. These results could be useful for organizational leaders in charge of allocating roles and tasks to people, based on their thinking style strengths. The results can also be very valuable for Latin American organizations to design specific training and development programs for men and women accordingly with their individual needs and their managerial roles. They can also support the argument that diverse gender teams will guarantee complete decision-making processes.
{"title":"Thinking Styles, Gender and Decision Making in Latin American management: A Comparative Study with the USA","authors":"Camelia Ilie, Guillermo Cardoza","doi":"10.1108/ARLA-04-2017-0093","DOIUrl":"https://doi.org/10.1108/ARLA-04-2017-0093","url":null,"abstract":"Purpose \u0000 \u0000 \u0000 \u0000 \u0000Many studies have analyzed how gender diversity and local culture condition the cognitive styles of managers and affect decision-making processes in organizations. Gender diversity has been defended from an equality perspective; it has been argued to improve decision-making processes and to have a positive impact on companies’ return on investment. The purpose of this paper is to analyze the differences between the thinking styles of men and women, in Latin America and the USA that support decision-making processes. An argument is given in favor of gender diversity in management teams, because of its positive implications in decision making. \u0000 \u0000 \u0000 \u0000 \u0000Design/methodology/approach \u0000 \u0000 \u0000 \u0000 \u0000The measurement instrument used was the Neethling Brain Instrument, developed based on recent neuroscience discovery. The sample comprised 1,216 executives from the USA and several countries in Latin America and the Caribbean, who have participated in executive training programs. \u0000 \u0000 \u0000 \u0000 \u0000Findings \u0000 \u0000 \u0000 \u0000 \u0000The results show differences in thinking styles by gender, but no differences were found in thinking styles or decision making between men and women at the same managerial level in either of the two regions. Similarly, results suggest that executives in the USA tend to base their management models on strategic thinking styles that focus on interpersonal relations and involve risk taking, while executives in Latin American countries tend to prefer thinking and management styles focusing on data analysis, execution, planning, and process control. \u0000 \u0000 \u0000 \u0000 \u0000Originality/value \u0000 \u0000 \u0000 \u0000 \u0000The results of the present study show that, in all regions, men score higher in rational thinking styles associated with the cortical areas, while women gravitate toward thinking styles where emotional schemes prevail, related to subcortical areas. These results could be useful for organizational leaders in charge of allocating roles and tasks to people, based on their thinking style strengths. The results can also be very valuable for Latin American organizations to design specific training and development programs for men and women accordingly with their individual needs and their managerial roles. They can also support the argument that diverse gender teams will guarantee complete decision-making processes.","PeriodicalId":45515,"journal":{"name":"Academia-Revista Latinoamericana De Administracion","volume":null,"pages":null},"PeriodicalIF":1.2,"publicationDate":"2018-05-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82349179","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-03-05DOI: 10.1108/ARLA-04-2017-0133
M. Bolívar
This paper is framed under the relevance of collaborative governance models in smart cities that are members of the EUROCITIES network and are involved in a working group about “creative citizenship” and seeks to analyse the use of new technologies by city governments in smart cities with the aim at improving e-participation of the citizenry in the public arena. The paper aims to discuss these issues.,This research is based on two data collection methods. First, this paper performs an e-survey sent to leading European smart cities about the relevance of collaborative governance in strategies of cities, about the main pillars and outcomes of smart governance and about the model of participation in developing a smart city. Second, an examination of 47 local governments of smart cities included in the working group of “creative citizenship” in the EUROCITIES network is performed during March 2017 with the specific purpose of collecting data about smart technologies used for e-participation.,Sample smart cities believe that collaborative governance is necessary to be implemented in public sector management under the smart environment but less than 50 per cent of them have created citizen participation platforms to promote citizen involvement in public affairs and only a few of them promote online public consultations, discussions and petitions. Also, there are differences in perceptions and in e-participation tools used by sample smart cities in accordance with the administrative culture of the country in which these cities are located.,This paper contributes to fill the gap in the analysis of the relevance of collaborative governance models in smart cities and the use in these cities of transparency websites, open data projects or e-participation platforms to promote citizen involvement in the public affairs of the city.,Este articulo se enmarca dentro del estudio de los modelos de gobernanza colaborativa en las ciudades inteligentes y analiza aquellas que son miembros de la red EUROCITIES y, ademas, participan en un grupo de trabajo sobre "ciudadania creativa", buscando analizar el uso de las nuevas tecnologias por parte de los gobiernos de estas ciudades inteligentes con el objetivo de mejorar la e-participacion publica.,Esta investigacion se basa en dos metodos de recopilacion de datos. En primer lugar, este documento realiza una encuesta electronica enviada a las principales ciudades inteligentes europeas sobre: a) la relevancia de la gobernanza colaborativa en las estrategias de las ciudades; b) los principales fundamentos y resultados de la gobernanza inteligente; y c) el modelo de participacion en el desarrollo de una ciudad inteligente. En segundo lugar, este trabajo realiza, a fecha de mayo de 2017, un analisis de las nuevas tecnologias utilizadas por 47 gobiernos locales de estas ciudades inteligentes (aquellas incluidas en el grupo de trabajo de "ciudadania creativa" en la red EUROCITIES) para facilitar la participacion electronica de la
本文是在智慧城市协作治理模式的相关性框架下构建的，这些城市是欧洲城市网络的成员，并参与了一个关于“创造性公民”的工作组，并试图分析城市政府在智慧城市中使用新技术的目的是改善公民在公共领域的电子参与。本文旨在探讨这些问题。本研究基于两种数据收集方法。首先，本文对欧洲领先的智慧城市进行了一项电子调查，调查内容涉及城市战略中协同治理的相关性、智慧治理的主要支柱和成果以及发展智慧城市的参与模式。其次，在2017年3月期间，对欧洲城市网络“创意公民”工作组中包括的47个智慧城市地方政府进行了检查，具体目的是收集用于电子参与的智能技术数据。样本智慧城市认为，在智慧环境下，公共部门管理中有必要实施协同治理，但只有不到50%的城市创建了公民参与平台，以促进公民参与公共事务，只有少数城市促进在线公众咨询、讨论和请愿。此外，根据这些城市所在国家的行政文化，样本智慧城市所使用的观念和电子参与工具也存在差异。本文有助于填补在分析智慧城市协同治理模式的相关性以及在这些城市中使用透明网站、开放数据项目或电子参与平台来促进公民参与城市公共事务方面的空白。在欧洲城市，通过分析“创新的城市”，通过分析“创新的城市”，通过分析“创新的城市”，通过分析“创新的城市”，通过分析“创新的城市”，通过分析“创新的城市”，通过分析“创新的城市”，通过分析“创新的城市”，通过分析“创新的城市”，通过分析“创新的城市”，通过分析“创新的城市”，通过分析“创新的城市”，通过分析“创新的城市”，实现“公共的电子参与”的目标。(1)调查的基础是数据重建的方法。在初级阶段，通过文件的形式实现电子环境和欧洲知识产权的基本原则;a)通过战略的形式实现知识产权的基本原则;B)由于结果而失去了原则的基础;c)基于智能的智能参与模型。En segundo lugar, este trabajo realiza, a technha de mayo de 2017, unanalytica de las nuevas technologies as utilizzas p47 gobiernos locales de ciudadades inteligentes (aquellas包括“ciudadania creative”和“EUROCITIES”)para facilitar participationla ciudadania。(1)在全国范围内，在全国范围内，在全国范围内，在全国范围内，在全国范围内，在全国范围内，在全国范围内，在全国范围内，在全国范围内，在全国范围内，在全国范围内，在全国范围内，在全国范围内，在全国范围内，在全国范围内，在全国范围内，在全国范围内，在全国范围内，在全国范围内，在全国范围内，在全国范围内，在全国范围内，在全国范围内，在全国范围内，在全国范围内，在全国范围内，在全国范围内。此外，我们还分析实现了不同文化之间的行政差异、差异的存在、差异的感知、差异的存在、差异的存在、差异的存在、差异的存在、差异的存在、差异的存在、差异的存在、差异的存在、差异的存在、差异的存在、差异的存在、差异的存在、差异的存在、差异的存在、差异的存在、差异的存在、差异的存在、差异的存在、差异的存在、差异的存在、差异的存在、差异的存在、差异的存在、差异的存在、差异的存在、差异的存在、差异的存在、差异的存在、差异的存在、差异的存在、差异的存在、差异的存在、差异的存在、差异的存在、差异的存在、差异的存在、差异的存在、差异的存在、差异的存在、差异的存在。,埃斯特documento contribuye llenar el vacio en la investigacion尤其el分析de la relevancia de los莫德罗de gobernanza colaborativa en ciudad才华y el uso de web de机构“透明de拿督开着阿德plataformas de participacion电子乐对位promover la participacion“在洛杉矶asuntos publicos得知dentro德之。
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Pub Date : 2018-03-05DOI: 10.1108/ARLA-04-2017-0110
M. Pucheta‐Martínez, Inmaculada Bel‐Oms, Gustau Olcina‐Sempere
Purpose Companies, politicians, the mass media, legislators, scholars and society in general have shown a growing interest in how board gender diversity affects a firm’s decisions. This fact has been developed because some nations have introduced voluntary policies to regulate and increase the proportion of female directors on corporate boards. Thus, the aim of this study is to review previous research based on board gender diversity as a corporate governance mechanism and its effect on some firms’ business decisions. We focus on agency and stakeholder theory to examine the link between female directors on boards and financial reporting quality, corporate social responsibility disclosure and firm performance. We also provide future lines of research, according to the findings of previous research. Design/methodology/approach In this study we used a descriptive methodology. Findings Our findings show the effect of board gender diversity on financial reporting quality, firm performance and corporate social ...
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Pub Date : 2018-03-05DOI: 10.1108/ARLA-04-2017-0112
L. Heller, Patricia Gabaldón
Through an analysis of 15 Latin American countries, the purpose of this paper is to explore the importance of several institutional variables (economic, regulatory, and cultural), which affect women’s careers towards being members of boards of directors in the region.,Based on primary and secondary information, the authors carry out multivariate analyses to understand the institutional reasons affecting the reduced presence of women on boards of directors in the region.,Their findings reveal differences within the region, the importance of protecting women’s professional careers in the labour market, and the effect of cultural dimensions, such as masculinity and power distance.,The analysis provides an updated cross-section of the institutional and cultural conditions of the 15 countries, considering the limitations to developing data in the region.,Latin America has witnessed important changes in the dynamics of the labour market over recent decades: women’s participation in the labour force is on the increase, and corporate strategy is evolving towards the incorporation of practices and initiatives to manage the diversity of their talents. However, the presence of women in leadership positions is a pending subject. This study, in part, reveals the institutional origin of gender inequality on boards of directors in the region. The analysis provides essential tools for public policy and for companies to help promote female leadership in the region.,Recent debate and research on the scarce participation of women on corporative boards of directors have revealed a growing interest in analysing the causes of such issues despite the progress recorded in terms of gender equity in most societies. Studies on the topic in Latin America are scarce and the aim of this paper is to help to fill part of this gap.,El presente trabajo explora en quince paises de America Latina la importancia de distintas variables institucionales (economicas regulatorias y culturales) que afectan a las carreras de las mujeres hacia los consejos de administracion en la region.,A partir de informacion primaria y secundaria, los autores desarrollan diversos analisis multivariantes para entender las razones institucionales que afectan tras la reducida presencia de mujeres en los consejos de la region.,Los resultados de los analisis realizados muestran las diferencias dentro de la region asi como la importancia de de analizar las carreras profesionales de las mujeres en el mercado de trabajo y el efecto de las dimensiones culturales como la masculinidad y la distancia al poder.,El analisis muestra un corte transversal de la realidad institutional y cultural de los 15 paises lo mas actual posible, teniendo en cuenta las limitaciones en el desarrollo de datos en la region.,En America Latina, se han producido cambios importantes en la dinamica del mercado laboral en las ultimas decadas: las tasas de participacion de mujeres en la fuerza de trabajo estan en aumento y las estrategias empr
通过对15个拉丁美洲国家的分析，本文的目的是探讨几个制度变量(经济、监管和文化)的重要性，这些变量会影响该地区女性成为董事会成员的职业生涯。基于第一手资料和第二手资料，作者进行了多变量分析，以了解影响该地区女性董事人数减少的制度原因。他们的研究结果揭示了地区内的差异、保护女性在劳动力市场上的职业生涯的重要性，以及文化因素的影响，如男性气质和权力距离。考虑到在该区域发展数据的局限性，该分析提供了15个国家体制和文化条件的最新横截面。在拉丁美洲，最近几十年来劳动力市场的动态发生了重大变化:妇女参加劳动力的人数正在增加，公司战略正在朝着纳入管理其才能多样性的做法和倡议的方向发展。然而，女性在领导岗位上的存在是一个悬而未决的问题。这项研究在一定程度上揭示了该地区董事会性别不平等的制度根源。该分析为公共政策和公司在该地区帮助提升女性领导力提供了重要工具。最近关于妇女很少参加公司董事会的辩论和研究表明，尽管大多数社会在性别平等方面取得了进展，但人们对分析这些问题的原因越来越感兴趣。拉丁美洲对这一主题的研究很少，本文的目的是帮助填补这一空白。在拉丁美洲，我们提出了一项关于不同制度变量(经济、管制和文化)的重要性的研究，该研究影响了拉丁美洲和拉丁美洲地区的行政管理。,从德给primaria y secundaria,洛杉矶奥特desarrollan行为分析多元对位entender las razon institucionales, afectan tra利用la reducida presencia de los consejo de la地区女性。研究结果表明，地域差异、性别差异、职业差异、女性差异、商业差异、文化差异、性别差异、性别差异、性别差异、性别差异、性别差异、性别差异、性别差异、性别差异、性别差异、性别差异、性别差异、性别差异、性别差异。从文化的角度分析现实体制的横向可能性，从文化的角度分析现实体制的横向可能性，从文化的角度分析现实体制的横向可能性，从文化的角度分析现实体制的局限性，从地域的角度分析数据的横向可能性。在美国拉美裔,se汉producido:重要的En la dinamica del梅尔卡多laboral En拉斯维加斯的创世纪decadas: de participacion de las tasas女性En la fuerza德找工作范围En aumento y ?拉斯维加斯empresariales van evolucionando hacia la incorporacion de practicas e iniciativas,于gestionar la diversidad de sus talentos。“禁止妇女出席会议”是指妇女出席会议时提出的要求。我们提出了一种新的方法，即在一个区域内，在一个区域内，在同一个区域内，在同一个区域内，在同一个区域内，在同一个区域内，在同一个区域内，在同一个区域内，在同一个区域内，在同一个区域内，在同一个区域内，在同一个区域内，在同一个区域内。社会分析提供了在政治和政治方面的必要条件，并提供了在政治和政治方面的必要条件，以及在区域内促进妇女发展的必要条件。(a)受惠者辩论的问题是:调查对象是否被纳入法律规定的范围，是否被纳入法律规定的范围，是否被纳入法律规定的范围，是否被纳入法律规定的范围，是否被纳入法律规定的范围，是否被纳入法律规定的范围，是否被纳入法律规定的范围，是否被纳入法律规定的范围。在禁运期间，在美洲和拉丁美洲的许多地区都有工作室。我提出了一种具体的方法，即在某些情况下使用这种方法。
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Pub Date : 2018-03-05DOI: 10.1108/ARLA-04-2017-0130
María Milagros Vivel-Búa, Rubén Lado-Sestayo
The purpose of this paper is to analyse the Spanish business sector’s economic exposure to currency risk in Latin America between 2010 and 2016, testing the effectiveness of hedging with derivatives for the reduction of this risk.,Economic exposure is tested with the Jorion model (1990) using both a currency basket and an individualised analysis for the main currencies sustaining business activities between Spain and Latin America: the Mexican peso, Brazilian real, Argentine peso, Chilean peso, and Colombian peso. For the hedging analysis, dynamic panel data models were estimated using a generalised method of moments.,The results reveal that the number of firms with significant economic exposure is sensitive to the temporal frequency of the observations. The evidence denotes that the firms’ export profile is predominant, both when considering a basket of Latin American currencies and when individually considering the five main pairs of currencies. The only exception is the Argentine peso, where firms’ import profile is slightly higher. The Chilean peso stands out as the currency with the greatest number of firms with significant exposure.,This work provides unpublished evidence on economic exposure to currency risk in Latin America in a recent period characterised by two main aspects: an important devaluation of some Latin American currencies with respect to the euro; and an enhancement of Spanish business activities in the region to favour growth during the recent recession of the Spanish economy.,este trabajo analiza la exposicion economica al riesgo cambiario en Latinoamerica por parte del sector empresarial espanol entre 2010 y 2016. Asimismo, evalua la efectividad de la cobertura con productos derivados en su reduccion.,la exposicion economica es estimada a traves del modelo de Jorion (1990), utilizando tanto una cesta de divisas como un analisis individualizado para las principales divisas que sustentan la actividad entre Espana y Latinoamerica, a saber, Peso mexicano, Real brasileno, Peso argentino, Peso chileno, y Peso colombiano. Respecto al analisis de la cobertura, se estiman modelos dinamicos con datos de panel a traves del metodo generalizado de momentos.,los resultados muestran que el numero de empresas con exposicion economica significativa es sensible a la frecuencia temporal de las observaciones. Asimismo, la evidencia denota que el perfil exportador de las empresas es mayoritario, tanto al considerar una cesta de divisas latinoamericanas como, individualmente, los cinco principales pares de divisas. La unica excepcion es el peso argentino, donde el perfil importador de las empresas es levemente superior. Asimismo, el peso chileno destaca como la divisa con mayor numero de empresas con exposicion significativa.,este trabajo aporta evidencia inedita sobre la exposicion economica al riesgo cambiario en Latinoamerica en un periodo reciente caracterizado por dos aspectos principales: i) una importante depreciacion de algunas divisas
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Pub Date : 2018-03-05DOI: 10.1108/ARLA-04-2017-0118
Celia de Anca, S. Aragon
The purpose of this paper is to explore inhibitors preventing Spanish women from attaining positions of leadership.,Using a qualitative approach based on focus groups and structured personal interviews on 42 Spanish male and female executives, the study tests the main gender normative expectations applicable to specific work and personal roles.,The findings suggest that there is a significant consensus about the existence of traditional and emerging models. Research also suggests there are still clear gaps between traditional and emerging roles that are easily identified and recognized. Contrary to expectations, the research suggests there is no a clear model of emerging gender roles, and instead considerable diversity in the construction of individual aspirational models.,This is a first exploratory research limited to a reduced sample in the Spanish context. To confirm the findings, the research will benefit from a quantitative approach based on larger samples. Moreover, additional surveys in different cultural contexts will provide a broader understanding of the proposed research questions.,The gender gap framework can enable policy makers to correctly diagnose the barriers women face in their professional lives and to come up with efficient instruments to correct existing inequalities.,The principal contribution of this paper is that it provides important insights into traditional and aspirational gender gaps that constitute one important internal barrier for women’s development.,El objetivo de este articulo es explorar los inhibidores que impiden a la mujer profesional espanola alcanzar puestos de liderazgo.,El articulo utiliza un enfoque cualitativo, basado en grupos enfocados y entrevistas personales estructuradas a 42 ejecutivos espanoles, hombres y mujeres, con el proposito de examinar las principales expectativas normativas de genero correspondientes a funciones y comportamientos especificos en el trabajo y en la vida personal.,Los resultados apuntan a un significativo consenso sobre la existencia de modelos tradicionales y emergentes. La investigacion asimismo comprueba la clara existencia de brechas de roles de genero tradicionales y emergentes que pueden facilmente reconocerse e identificarse. Contrariamente a lo esperado, los resultados de la investigacion indican que no existe un modelo claro de roles de genero emergente, sino que existe una considerable diversidad en la construccion de modelos individuales aspiracionales.,El presente articulo es una primera investigacion exploratoria limitada a una muestra reducida en el contexto espanol. Ayudaria a confirmar los resultados, un enfoque cuantitativo basado en muestras mas amplias. Por otra parte, encuestas adicionales en otros contextos culturales proporcionaria una mejor y mas amplia comprension de las cuestiones objeto de la investigacion.,El marco de brecha de genero, que introduce esta investigacion, puede ayudar a los responsables politicos, a diagnosticar correctamente alguna
本文的目的是探讨阻碍西班牙妇女获得领导职位的因素。本研究采用基于焦点小组和结构化个人访谈的定性方法，对42名西班牙男性和女性高管进行了研究，测试了适用于具体工作和个人角色的主要性别规范期望。研究结果表明，人们对传统模型和新兴模型的存在达成了重大共识。研究还表明，传统角色和新兴角色之间仍然存在明显的差距，这些差距很容易识别和认识。与预期相反，研究表明，没有一个明确的新兴性别角色模型，相反，在构建个人抱负模型方面存在相当大的多样性。这是第一次探索性研究，仅限于西班牙背景下的减少样本。为了证实这些发现，这项研究将受益于基于更大样本的定量方法。此外，在不同文化背景下的额外调查将提供对所提出的研究问题的更广泛的理解。性别差距框架可以使决策者正确诊断妇女在职业生涯中面临的障碍，并提出有效的工具来纠正现有的不平等现象。本文的主要贡献在于，它对传统的和理想的性别差距提供了重要的见解，这些差距构成了妇女发展的一个重要内部障碍。研究目的:探讨几种不同类型的抑制因子对皮肤皮肤的抑制作用。(1)具体的利用和个人的定性、集体的利用和企业家的个人的结构、行政人员的个人、家庭的个人、审查原则的建议、期望的规范和一般通信的职能、具体的工作和个人的个人的生活。结果表明，这是一项重要的共识，即传统模式与紧急情况的存在。La investigacion asimismo comprueba拉克拉拉地brechas de角色de genero tradicionales y太,乙醇facilmente reconocerse e identificarse。相反，调查结果表明，一般情况下，调查结果不存在，一般情况下，调查结果不存在，调查结果不存在，调查结果不存在，调查结果不存在，调查结果不存在，调查结果不存在。在西班牙语语境下，El提出了关于“初步调查探索限制”和“初步调查探索限制”的文章。Ayudaria证实了这一结果，并进行了定量分析和分析。另一方面，被调查者的语言能力、文化背景、文化比例以及对问题的主要理解都不利于调查。(1)建立社会责任调查制度，建立社会责任调查制度，建立社会责任调查制度，建立社会责任调查制度，建立社会责任调查制度，建立社会责任调查制度，建立社会责任调查制度，建立社会责任调查制度，建立社会责任调查制度，建立社会责任调查制度。根据具体情况的贡献原则、新经济发展的比例原则、传统经济发展的比例原则、新经济发展的比例原则、新经济发展的比例原则、新经济发展的比例原则、新经济发展的比例原则、新经济发展的比例原则、新经济发展的比例原则、新经济发展的比例原则、新经济发展的比例原则、新经济发展的比例原则、新经济发展的比例原则、新经济发展的比例原则、新经济发展的比例原则、新经济发展的比例原则是国际经济发展的一个重要障碍
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Pub Date : 2018-03-05DOI: 10.1108/ARLA-04-2017-0126
Flávia Schwartz Maranho, R. P. Leal
The relationship between the role played by corporate governance (CG) mechanisms and shareholder wealth is an important and mature topic in some countries and regions. However, despite the considerable number of studies, the results are still inconclusive. The purpose of this paper is to contribute to the debate around the theme in Latin America through a meta-analysis.,The study used meta-analytic procedures to review 42 articles produced by researchers from Latin American countries, whose samples were composed of Latin American firms.,The results suggest that CG best practices are associated with better Latin American firm performance. The evidence also suggests that results are moderated by the characteristics of boards of directors, the ownership, and control structure and various simultaneous CG mechanisms, through broad indices and special CG trading segments.,The relationship between GC and firm performance possesses certain peculiarities in the case of Latin American countries and the literature on the region is certainly not as abundant and mature. As most of the articles reviewed were written in Portuguese and Spanish and published in local journals, the consolidation produced should also be useful for researchers throughout the world by enabling them to access their ideas.,A relacao entre o papel desempenhado pelos mecanismos de governanca corporativa (GC) e a riqueza dos acionistas e um topico importante e maduro em alguns paises e regioes. No entanto, os resultados ainda se apresentam ambiguos, apesar do grande numero de estudos. Este ensaio pretende contribuir para o debate do tema na regiao atraves de uma meta analise.,O trabalho fez uso de procedimentos meta-analiticos para revisar 42 artigos produzidos por pesquisadores da regiao e de outras localidades, cujas amostras sao compostas por empresas de paises da America Latina.,Os resultados sugerem que de forma geral melhores praticas de GC sao associadas a um melhor desempenho das empresas latino-americanas. Este trabalho sugere tambem que os resultados encontrados sao moderados pelas caracteristicas dos conselhos de administracao, da estrutura de propriedade e controle e de diversos mecanismos simultâneos de GC, como indices amplos e segmentos especiais de GC.,Esta relacao possui peculiaridades quando se tratam de paises latino-americanos e a literatura sobre a regiao certamente nao se apresenta tao abundante e madura. Acredita-se que a consolidacao produzida sera util para pesquisadores ao redor do mundo, uma vez que a maioria dos artigos revisados foi escrita em portugues ou espanhol e publicada em periodicos locais, o que nao a torna acessivel a todos.
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Pub Date : 2018-03-05DOI: 10.1108/ARLA-02-2017-0041
G. Romaní, Miguel Atienza, Felipe Campos, Pablo Bahamondes, Rodrigo J. Hernandez
The purpose of this paper is to identify and analyse the characteristics of high net worth individuals (HNWI) as potential angel investor in Antofagasta, the main mining resource periphery in Chile.,Using the resource periphery approach and angel investing, the authors apply a survey to a sample of 37 HNWI in this region. The data collected were analysed using descriptive statistics.,Descriptive results show that the characteristics of these individuals do not significantly differ from those exhibited by angel investors in developed countries and that HNWI show a relative high willingness to become angels and to form a network.,This paper has some limitations regarding the size and scope of the sample. It is a relatively short sample that does not allow to make more sophisticated analysis and it is only regional and, therefore, it is not possible to make a comparison at a national level.,From the perspective the design of policies and programmes oriented towards the promotion of a high potential start-ups in resources peripheries, it is essential to know what the characteristics of HNWI are and their propensity to become angel investors.,Research on angel investment has been traditionally based on the experience of core regions in developed countries. This type of funding source, however, can play a significant role in the promotion of development and diversification in resource peripheries due to the limited access that these areas have to traditional capital funds and the orientation of angel investment towards innovative ventures, but studies from this perspective are very scarce. In this sense, this paper is pioneer in this topic in peripheral regions.,El objetivo de este articulo es identificar y analizar las caracteristicas de las personas con alto patrimonio neto como potenciales inversionistas angeles en Antofagasta, la principal fuente de recursos minerales en la periferia de Chile.,A traves del enfoque de las periferias de los recursos naturales y la inversion angel, se aplico una encuesta a una muestra de 37 personas con alto patrimonio neto en esta region. La informacion recogida fue analizada usando estadistica descriptiva.,Los resultados muestran que las caracteristicas de estas personas no difieren significativamente de los inversionistas angeles en paises desarrollados y muestran un fuerte deseo de ser inversionistas angeles y formar una red.,Este articulo presenta algunas limitaciones en relacion al tamano y el alcance de la muestra. Es una muestra relativamente pequena y no permite realizar analisis mas sofisticados y es solo a nivel regional y, por lo tanto, no es posible comparar a nivel nacional.,Desde la perspectiva del diseno de politicas publicas y programas orientadas a la promocion de empresas de alto potencial de crecimiento en las periferias de recursos naturales, es esencial conocer las caracteristicas de las personas con alto patrimonio neto y su propension a convertirse en inversionistas angeles.,La investigacion so
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Pub Date : 2018-03-05DOI: 10.1108/ARLA-01-2018-0004
E. Ogliastri, C. Pombo, Elvira Salgado
The purpose of this paper is to introduce the anniversary issue marking 30 years of academic publication.,This anniversary issue contains 12 articles from 11 countries and 17 academic institutions which present literature reviews, meta-analyses, and novel studies. It also contains testimonials about the history of the journal from Enrique Ogliastri (Editor and/or Director between 1998 and 2018), Elvira Salgado (Editor between 2002 and 2013), and Carlos Pombo (Chief Editor, 2013 to the present).,The history of the journal may be divided into five stages: first, the foundation at the Universidad de Chile (1988-1998); second, the move to the Universidad de los Andes (Bogota) and the preparation of a proposal to the Institute of Scientific Information (ISI) for inclusion among the scientific journals of the world (1999-2004); third, a period of consolidation in Latin America (2004-2007); fourth, the acceptance of the journal in ISI and the development of an electronic platform with free access to the journal (2008-2013); and fifth, the entry of the Emerald group as editorial partner (2013-2018).,The 12 articles present literature reviews, meta-analyzes, and novel studies.,El proposito de este editorial es presentar el tema del aniversario.,Se publican doce articulos provenientes de once paises y 17 instituciones academicas. Se presentan los testimonios de Enrique Ogliastri (editor y/o director entre 1998 y 2018), Elvira Salgado (Editora entre 2002 y 2013), y Carlos Pombo (jefe editorial 2013-2018).,Se publican doce articulos provenientes de once paises y 17 instituciones academicas. Se presentan los testimonios de Enrique Ogliastri (editor y/o director entre 1998 y 2018), Elvira Salgado (Editora entre 2002 y 2013), y Carlos Pombo (jefe editorial 2013-2018). La historia de la revista de CLADEA se podria dividir en cinco etapas: la fundacion en la Universidad de Chile (1988-1998); paso a cargo de la Universidad de los Andes (Bogota), un periodo de puesta a punto para presentar al Institute of Scientific Information (ISI) la solicitud de ser analizada e incluida entre las revistas cientificas del mundo (1999-2004); el periodo de consolidacion en America Latina (2004-2007); la aceptacion en ISI y el desarrollo de una plataforma electronica de acceso libre a la revista (2008-2013); y el ingreso del grupo Emerald como socio editorial (2013-2018).,Los 12 articulos presentan revisiones de literatura, metanalisis y estudios novedosos
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