Journal of CENTRUM Cathedra. Vol. 02, Issue 01
URI permanente para esta colecciónhttp://54.81.141.168/handle/123456789/194726
Tabla de Contenido
JCC Volume 2 - Issue 1 - 2009
Doctoral Research Proposal
Explorar
8 resultados
Resultados de Búsqueda
Ítem Acceso Abierto Equity Market Risk Premium and Global Integration(Pontificia Universidad Católica del Perú. CENTRUM, 2009) Johnson, Robert; Soenen, LucThe equity market risk premium remains one of the most debated issues in corporate finance. Monthly returns for 19 developed equity markets and 16 emerging equity markets between 1970 and 2006 aided in examining the extent of integration of these markets with the U.S. stock market and the Morgan Stanley Capital International (MSCI) World Index. Geweke measures of feedback indicate that although both developed and emerging markets show a slight and gradual increase in integration, emerging markets reflect significant segmentation from the U.S. stock market and the world market index. Greater stock market integration is associated with a more favorable economic and political climate toward business. Additional risk premiums relative to the intertemporal capital asset pricing model (ICAPM) arise because of segmentation of emerging markets from the world. Valuing business investments in countries with at least partially segmented equity markets requires an adjusted capital asset pricing model (CAPM).Ítem Acceso Abierto Managerial Capabilities in Peruvian Family Companies: An Exploratory Study(Pontificia Universidad Católica del Perú. CENTRUM, 2009) Salomon, Jaime O.In this research study, an attempt will be made to identify the managerial capabilities which determine performance of family firms in the context of the wheat milling industry in Peru. Researchers have suggested that the abilities and knowledge of the CEO, as applied to the organization, as well as the sort of social relationships (social capital) and the ability to envision the future (cognitive capital), are all relevant elements that contribute to shaping managerial capabilities. A qualitative methodology, focused on multiple cases studies, will be used. In-depth interviews for data collection will be held and a narrative (discursive) analysis will be done.Ítem Acceso Abierto Understanding Employee Turnover Patterns in Mexican Maquiladoras(Pontificia Universidad Católica del Perú. CENTRUM, 2009) Romero, Eric; Cruthirds, Kevin W.Thousands of manufacturing jobs have left the United States for Mexico because of lower labor costs in relatively close proximity to the United States. Despite lower labor costs, high employee turnover can be a major problem for maquiladoras, particularly for firms focusing on quality and high value services and products. We used quantitative and qualitative data to explore turnover patterns and seek an explanation for the high turnover in maquiladoras. Analysis of exit data from 2,714 line workers over a 4-year period revealed two major yearly peaks in turnover. Additionally, results from interviews of current hourly wage personnel and management revealed several major causes of turnover. Overall, we provide an explanation for yearly patterns in turnover and other reasons for turnover that are not found in other papers about this issue. Methods are suggested to reduce turnover, and ideas for future research are discussed.Ítem Acceso Abierto Using Random Forests and Logistic Regression for Performance Prediction of Latin American ADRS and Banks(Pontificia Universidad Católica del Perú. CENTRUM, 2009) Creamer, Germán G.In the paper, random forests and logistic regressions’ support of financial analysis functions’ predictive tool to forecast corporate performance and rank accounting and corporate variables according to their impact on performance is demonstrated. Ten-fold cross-validation experiments are conducted on one sample each of Latin American depository receipts (ADRs) and Latin American banks. Random forests indicate that the most important variables that affect ADRs performance are size and the law-and-order tradition; the most important variables that affect banks are size, long-term assets to deposits, number of directors, and efficiency of the legal system. The interpretation of predictive models for a small sample improved when the capacity of random forests to rank and predict with the parameters of a logistic regression were combined.Ítem Acceso Abierto Productivity Growth as The Predictor of Shareholders' Wealth Maximization: An Empirical Investigation(Pontificia Universidad Católica del Perú. CENTRUM, 2009) Kumar, Mukesh; Charles, Dr VincentThe economic value added (EVA), orginally developed by Stern Stewart & Company, is a relatively new financial tool that is being adopted successfully by many firms. However, evidence of EVA as a predictor of shareholders’ wealth is mixed. This paper empirically verifies the effect of productivity growth, a real missing link between EVA and a firm’s financial health, on shareholders’ wealth maximization. The study uses the firm-level data from the Indian food processing industry for the period 1993-94 to 2005-06 to measure and decompose the Malmquist productivity index into its different components, such as technological change, pure efficiency change and change in scale efficiency, by using the technique of data envelopment analysis (DEA). It further examines the linkage between different components of productivity change and market value added, an indicator of shareholders’ wealth maximization, by using fixed effect regression models. The results reveal that the negative growth in total factor productivity change is mainly due to technological regress on the one hand and increasing inefficiencies of the firms on the other hand. The scale efficiency change is found to be the only source of total factor productivity (TFP) change in the Indian food processing industry. As expected, there exists a positive relationship between the components of TFP change and the market value added (MVA). However, the technological change is found to be the only driving force of market value in the Indian food processing industry, indicating that the stock market does recognize the innovative activity undertaken by firms.Ítem Acceso Abierto Competitive Advantage of Operational and Dynamic Information Technology Capabilities(Pontificia Universidad Católica del Perú. CENTRUM, 2009) Bullon, Luis A.Based on contradictory findings reported by researchers into the payoffs of information technology (IT) investments, a key question for information system researchers and practitioners concerns what role IT may play in enhancing competitive advantage. In this study, IT is conceptualized as a capability, and a differentiation is made between the routine use of IT as operational IT capability and the purposeful use of IT to achieve change, that is, dynamic IT capability, in order to analyze and describe the direct effect of IT capabilities on competitive advantage. The research design will be a cross-sectional survey, using structural equation modeling (SEM), and the empirical analysis will take as its population the financial and industrial firms of Lima, Peru.Ítem Acceso Abierto Evaluation of Market Readiness of Medium and Small-Scale Nonprofit Organizations in Northern India: An Empirical Study(Pontificia Universidad Católica del Perú. CENTRUM, 2009) Madan, PankajThe study is a quantitative investigation into the market readiness of medium- and small-scale nonprofit organizations (MSNPOs and SSNPOs), using a measuring instrument suited to the distinct characteristics of nonprofits, to see whether MSNPOs and SSNPOs have strategies to curb competition and whether they are still using conventional marketing or have started using information- and communication-enabled technologies. The survey included 50 MSNPOs and 50 SSNPOs from the spiritual capital of India, selected by stratified random sampling. The responses to a structured questionnaire were recorded using 42 statements of which 33 were measured on a tailor-made scale. The paper provides empirical evidence of the extent to which MSNPOs and SSNPOs differ in their promotion, pricing, and product focus. Statements based on observational surveys of the selected NPOs and interviews with the respondents and customers support the statistical results. The paper ends with a discussion of the implications of the marketing practices of NPOs. The findings from the survey and responses are that neither MSNPOs nor SSNPOs agree in principle about the need for formal marketing for their organizations. Marketing of NPOs remains limited to big and famous NPOs, and the study has proved statistically that North Indian SSNPOs and MSNPOs lack market readiness and need to adopt modern marketing practices used by for-profit organizations or big brand NPOs.Ítem Acceso Abierto Entrepreneurs, Intuition, and Small-Business Performance(Pontificia Universidad Católica del Perú. CENTRUM, 2009) Chaston, IanThe recognition by Western nation governments of the increasingly important role of small and medium-sized enterprises (SMEs) in job creation in post-Fordist economies has led to an expansion of public sector funding for training programs for owners or managers. Research into the cognitive style of entrepreneurs reflects that some researchers conclude that the more effective owners or managers are intuitive decision-makers. Based on these findings, researchers are recommending emphasis on intuitive thinking in government-funded owner or manager training programs. This study involved using research on small UK firms to gain further empirical evidence of the validity of the view that intuitive thinking is a preferred business style and relates to superior small-firm performance. Results illustrate that some owners or managers are intuitive thinkers but that individuals exhibiting an analytical decision-making style run successful firms. The results partially contradict earlier studies.