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Riesgo-país y tasas de descuento para empresas latinoamericanas
Get PDFThis paper identifi es the Latin American companies for which the beta calculation is possible and consequently their corporate discount rates with an acceptable degree of confi dence. The selection is based on companies whose shares are listed with suffi cient liquidity in both local stock markets as well as the New York Stock Exchange. At the time of the sample, 88 companies had qualifi ed for the direct beta calculation. The instability of the liquidity indicators and the market dynamics themselves make it necessary to update the analysis often
Políticas de fomento a la competitividad de la pequeña empresa
Get PDFIn 2003 the Peruvian government launched a second wave of decentralization and devolution initiatives to the sub-national governments. The move aimed at fostering development, economic growth and job creation with a strong focus on small companies. However, evidence shows these efforts failed because properly planned policies linked to development objectives were lacking. A reference framework is proposed to design local policies that will add economic momentum, relate the local business network to external systems, and create wellbeing by fostering small business competitiveness. To help identify several types of development measures, the paper proposes to take account of the relation between the business activity and its territory, the key factors of success of innovative companies, and the business’s life cycle as related to the potential for innovation and growt
La tensión entre las prioridades del estado y los intereses del mercado
Get PDFIn the social reality, the State and the market carryout specifi c coordination functions; these agents are closely related but their relation is permanently tense. This article is a refl ection on the tension generated between the priorities of the State and the market interests. The theoretical base from which it parts is basically liberal, although it has several minor changes which result pretty convenient (v.g. neoschumpeterian liberalism, Austrian liberalism, and public choice liberalism). The objective, far from proposing a concluding vision, is to demonstrate a part of the wide spread of conceptual liberal possibilities from which this object of study can be analyzed
La construcción del desarrollo desde los gobiernos sub nacionales: una visión desde la perspectiva de la gestión ambiental descentralizada
Get PDFThe transition of the Peruvian political system to decentralization has uncovered a number of factors that condition national development although by bringing the State closer to the people, the contrary should be expected. These elements underlie the existing culture of government and the ordinary citizen’s so that despite specifi c opportunities to foster development, they are not revealed in human development indicators but only on economic indicators. One of these elements is the natural reaction to changes in the power structure existing inside the centralist system that have been revealed by the slow transfer of competencies from the central to the sub-national governments. Another such element is the limited ability of sub-national governments that fail to respond to the challenge of demonstrating better competencies to address the citizens’ demands
La administración del desarrollo sostenible en el contexto de la economía social de mercado
Get PDFThe theory of market social economy appears neatly when dealing with environmental conservation and the search for the wellbeing of the underprivileged. These concepts have been used in various countries and today it is possible to see countries that carefully watch over their environment and have achieved signifi cant social balance. Peru has not been alien to environmental and social concepts and for more than four decades has establishes organizations, designed policies and enacted laws to look at these issues. However, the outcomes have been limited. Among the reasons that explain the ineffectiveness of such regulations and institutions perhaps among the most important are the lack of effective oversight and control over economic agents, and an ineffi cient design of the ways to attain goals through regulations and institutions. For that reason, this paper proposes policy options to correct market outcomes and a way to build institutions that will allow to accomplish the desired goal
Desarrollo, sostenibilidad y capacidades: una trilogía indesligable
Get PDFThe difference between economic growth and development has been debated for long. Classical economists hold that the most important challenge for a country was to create wealth. However, as time goes by, other important and complementary concepts have arisen such as development, sustainable development and social capital, stressing out the need for creating human, institutional and natural capacities to generate lasting well-being. Capacities do not come besides investment; we need to create them. However, some examples show that many public and private decision-makers in Peru do not take into account such need; they prioritize economic capacities and neglect social, environmental and institutional ones. Development is not be possible without capacity building, and once the proper capacities are built may sustainable development be created
Project sistem, un modelo de gestión para construir el desarrollo sostenible
Get PDFThis paper shows the advantages of the Scorecard Project System as a computer integrated tool to simplify, speed up and streamline the design and monitoring of diagnosis studies, plans and projects included in a strategic view to reach sustainable development. The paper shows the characteristics and advantages of each such tool and establishes their sequence in the feedback cycle for territorial management, whether peasant communities, local governments, regional governments of companies with a social responsibility mission
El legado de schumpeter al estudio de la administración de empresas
Get PDFIn this article it is stated that the most demonstrated statements of the neoschumpeterian theory might be extremely useful for the analysis of business administration. Schumpeterian theory focuses in the use of analogies or biology concepts to analyze the behavior of institutions and social systems. For this focus, the signals that companies receive from the economical system are of three types: a) the technological opportunities and the benefi ts expected, which are closely related to them, b) the current behavior and the expected one from the demand from its products and other products and c) the changes in costs, prices, quantities, and rentabilities in the markets in which they operate, and in some others
Plan de negocios para la exportación de empanizados de calamar gigante al mercado de Estados Unidos
Get PDFThis article develops a business plan to introduce giant squid in markets in the United States in the form of breaded seafood. The added value that local processing gives to the resource is determinant for obtaining higher prices, as compared to those being paid for squid as raw material, and for entering international markets for fi nished products. The proposed model covers the marketing plan, operations strategies and economic evaluation; the last one shows the economic results expected and the generated profi ts. The article ends by pointing out the critical factors of the business plan: the characteristics of the demand in the destination market and the supply of raw material
CIA. minera Milpo S.A.A.: valorización de una empresa minera
No full textBailey Investments Inc. (BII) was restructuring their investment portfolio and examining the possibility of extending their exposure towards the Peruvian mining industry. Specifi cally, they were interested in investing in the Milpo Mining Company, about which they had very good references. For this reason, they asked MC Peru, who is one of their primary foreign customers, to create a report about the convenience for realizing this investment. They expected a comparison between the market price and the value of ordinary Milpo stock. Analyst Ernesto Valdez, who was in charge of this work, knew that he would only have a short time (three days) to do so, meaning that there would not be any time to converse with Milpo representatives, and his analysis would have to focus on public information available through the Internet