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Get PDFThe following document contains the 33rd issue of the Journal of Economics, Finance and Administrative Science (JEFAS). This time, we are pleased to print the current issue with one of the most prestigious editorials worldwide: “Elsevier Editorial”. Becoming part of the database of Elsevier means our purpose to fit in the best databases for scientific journals as well as hit the best impact factor for journals. The first paper “Pricing Asian power options under jump-fraction process” presents a framework for pricing Asian power options when the underlying asset follows a jump-fraction process. The authors here show that the proposed technique is computationally efficient and dramatically improves the accuracy of the simulated price.
DOI: https://doi.org/10.1016/S2077-1886(12)70001-
Análisis de comportamiento caótico en variables de la cadena de suministro
Get PDFIn this article we develop a supply chain model of four levels through the utilization of system dynamics with Ithink® and Mathlab® softwares to analyze data. The supply chain is studied from the chaos theory perspective, which helps identifying the sensitive variables that can lead to a state of chaos. A generic structure model that comprehends factory links, distribution, wholesale, retail and the client is constructed. The difficulty of operations and logistics managers to decide how much to order and when to do it is simulated accordingly to what occurs in the links of the preceding and subsequent levels with two decision parameters: The first parameter denominated A indicates the participation (between 0 and 1) of the number of product units that are taken into account in the actual stock and the pending orders at the moment of performing an order. The second parameter, denominated B, is the participation (between 0 and 1) of the number of units in the supply line (in transit) at the moment of performing orders of each of the links of the supply chain
Análisis de las características de las incubadoras de empresas en Colombia: un estudio de casos
Get PDFBased on the research methodology of case study, in this article we analyze the main characteristics that condition business’s survival of four business’s incubators in Colombia (Bucaramanga, Créame, ParqueSoft and Gestando). The researchers applied the guide of best practices of the business’s incubators of Nodriza as a tool for the exploratory analysis. The results reveal that 70% of the companies comply with this guide, allowing them to continue surviving at the domestic and international market
Aspectos a considerar para una buena gestión en los almacenes de las empresas (Centros de Distribución, CEDIS)
Get PDFIn this document we present different aspects that are necessary to perform an excellent administration and control of distribution centers that corporations may have. If these ideas are implemented correctly in an efficient way, most of the productivity problems in the warehouse could be solved easily. Thus, it is important to evaluate the products’ activity profile, the layout of the warehouse and the products’ flow through the distribution center. The objective of this process is to obtain the conditions of a world class warehouse
Distributive Politics, Nature of Government Spending and Economic Growth in a Low Income Democracy
Get PDFIn this paper we analyze how the government in a democratic setup of the developing world manipulates the fiscal instruments to maximize its political gain so that it can retain power. The government and the voters in low income countries are generally selfish and myopic in the sense that the electorates prefer to get direct and immediate benefits from the government while the government, in turn, tries to seek majority support in the election, by adopting short term and distributive policies instead of going for long term growth. Using the theoretical structure of the existing literature, and making modifications therein, this study demonstrates that the optimal tax rate, public expenditure shares and growth rate are determined in terms of technological and behavioral parameters. The simulation results show that if political gain from distributive policies is high, the government will allocate a greater share of the fund for distributive purposes adversely affecting economic growth
Effect of Public Educational Spending and Macroeconomic Uncertainty on Schooling Outcomes: Evidence from Nigeria
Get PDFThis study examines the effect of government educational spending and macroeconomic uncertainty on schooling outcomes in Nigeria using the econometric methods of cointegration and error correction mechanism together with the vector autoregression methodology. The results indicate that schooling outcome cointegrated with all the identified explanatory variables. The study found that public educational spending impacts positively on schooling outcome while macroeconomic instability impacts negatively. The variance decomposition analysis shows that “own shocks” constitute the predominant source of variation in schooling outcome. The impulse response analysis shows that any unanticipated increase in the macroeconomic uncertainty rate will have a contractionary impact on literacy rate. The policy implication of this study is that government should pay attention to policies that enhance educational attainment through adequate public social investment under stable macroeconomic environment
Considerations for the Design of a Central Counterparty for the Mexican Money Market
Get PDFThe financial crisis has brought the problems of regulatory failure and unbridled counterparty risk to the forefront in financial discussions. In the last decade, central counterparties have been created in order to face those insidious problems. In Mexico, both the stock and the derivatives markets have central counterparties, but the money market has not. This paper addresses the issue of creating a central counterparty for the Mexican money market. Recommendations that must be followed in the design and the management of risk of a central counterparty, given by international regulatory institutions, are presented in this study. Also, two different conceptual designs for a central counterparty, appropriate for the Mexican market, are proposed. Final conclusions support the creation of a new central counterparty for the Mexican money marke
Integración económica en América Latina: la visión teórica de la Cepal confrontada con la evolución del proyecto en la región
Get PDFThis article tracks the main ECLAC ideas over the economic integration in Latin American underlying the change of the ideological background of ECLAC towards an orthodox sense during the nineties. When comparing those ideas with the evolution of intraregional trade in recent years, empirical evidence shows that elements that have historically hindered the projected progress are still present but in more complex forms related to the current dynamics of the international economy. In particular, the implicit management of a partial integration by transnational companies has resulted in unequal relationships between countries and in a wider use from the mentioned process by the strongest economies. The article ends, then, seeking to revitalize the pioneer ideas of ECLAC and proposes guidelines for the construction of an alternative integrationist project that supports the need of exceeding the purely commercial aspects of integratio
On Welfare Effects of Horizontal Mergers with Product Differentiation
Get PDFWe use a non-spatial (Chamberlinian) product differentiation model to analyze the welfare effects of horizontal mergers with quantity competition. We argue that (i) mergers can be welfare enhancing if the degree of product differentiation increases after the merger; and, (ii) privately profitable mergers can also increase welfare. Consequently, in this paper we demonstrate that the degree of product differentiation is a crucial factor to assess the welfare effects of a merger
Formulación estratégica. Caso: empresas del sector alimentos y bebidas del estado Carabobo
Get PDFThe purpose of this paper is to analyze the strategic process of a group of companies in the food and beverage sector of Carabobo State, Venezuela. To achieve it a non-experimental study was conducted with special emphasis on transectional descriptive design and an instrument was applied to a non probabilistic sample taken from eleven organizations of the food and beverage manufacturing industry in the Carabobo State, Venezuela. We concluded that in the group there is no clear trend or identification with respect to some of the schools of strategic thought, in particular, as regards to the strategic process; that is to say, there is not enough uniformity in the responses to identify which school of strategic thought (from the application of its premises) has a greater presence in some of the companies. Considering the prismatic nature of the strategic process, it can be said that the schools with more influence at the time of making the strategic formulation are Planning, Positioning, Cultural, Environmental and Configuration