Journal of CENTRUM Cathedra
URI permanente para esta comunidadhttps://hdl.handle.net/20.500.14657/194723
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Ítem Acceso Abierto Accountability and Performance Measurement: A Stakeholder Perspective(Pontificia Universidad Católica del Perú. CENTRUM, 2012) Harrison, Julie; Rouse, Paul; de Villiers, CharlAccountability and management accounting have strong links, especially around performance reporting. Many approaches, such as the balanced scorecard and Ramanathan’s (1985) accountability framework, stem from management accounting research and practice. Accountability and performance measurement are linked inextricably; in fact, the interpretation of performance requires accountability as its reference. Further, to make comparisons across organizations requires the identification of whose objectives are being served. The primary stakeholders provide the best accountability perspective because their goals reflect, generally, the largest section of the community. In this paper, the focus is on accountability in a school context to identify performance-reporting imperatives important to the wider public sector, including the identification of relevant stakeholders and the determination of appropriate performance models. In this way, both a framework for school performance management and a method for developing such frameworks for other applications are addressed.Ítem Acceso Abierto Adaptive Neuro-Fuzzy Optimization of the Net Present Value and Internal Rate of Return of a Wind Farm Project under Wake Effect(Pontificia Universidad Católica del Perú. CENTRUM, 2015) Petković, DaliborAccording to studies on the impossible trinity, under conditions of high financial integration, the domestic interest rate is closely linked to the foreign one if the possibility of maneuvering interest rates is absent in this transaction. The Fisher effect is brought into this escapade because interest rates generally trend positively with inflation. Botswana has set her inflation target between 3-6% and this study attempts to determine inflation spillover effects from the United Kingdom, United States of America, Canada, Japan, China, Belgium, France, Germany, South Africa, Nigeria, and Ghana using data from 1980-2012. Comparatively, the attempts made by previous studies to examine spillovers generally lacked a long-run focus and channeled much attention to periods of financial crisis. This study deviates from other studies by using the Augmented Dickey Fuller (ADF) test to examine unit roots for the countries under examination. The study further applies the Johansen cointegration procedure, as well as the Granger causality test. The results show that Botswana’s inflation dynamics trend positively with all the countries under scrutiny except South Africa in a long-run framework. However, the Granger causality test only proved that Botswana’s inflation lead China’s inflation dynamics. In conclusion, Botswana’s inflation is not driven by other countries’ inflation dynamics.Ítem Acceso Abierto Airlines Performance via Two-Stage Network DEA Approach(Pontificia Universidad Católica del Perú. CENTRUM, 2011) Zhu, JoeThe performance of the airline industry has been widely studied using data envelopment analysis (DEA). Many existing DEA-based airline performance studies have used the standard DEA model, with some minor modifications. These studies have ignored the internal structure relative to the measures characterizing airline operations performance. In the current paper, airline performance is measured using a two-stage process. In the first stage, resources (fuel, salaries, and other factors) are used to maintain the fleet size and load factor. In the second stage, the fleet size and load factors generate revenue. The model used is called the centralized efficiency model where two stages are used to optimize performance simultaneously. The approach generates efficiency decomposition for the two individual stages. The use of this centralized DEA model enables obtaining insights not available from the standard DEA approach.Ítem Acceso Abierto An Analytical Approach to Predict the Performance of Thoracic Transplantations(Pontificia Universidad Católica del Perú. CENTRUM, 2012) Oztekin, AsilPredicting the performance of planned organ transplantation has proved to be a critical problem to solve. The purpose of this study is to present a data mining-based model for variable filtering and selection in order to predict the performance of thoracic transplantation via the graft survivability after the transplant. To this end, 10-fold cross-validated information fusion-based sensitivity analyses on machine learning models are conducted to receive an unbiased predictor variable ranking to be used in a subsequent Cox survival analysis. The study is unique in that it provides a mathematical means for medical experts to deal with thoracic recipients more efficiently and effectively.Ítem Acceso Abierto An Application of GARCH Models in Detecting Systematic Bias in Options Pricing and Determining Arbitrage in Options(Pontificia Universidad Católica del Perú. CENTRUM, 2012) Dash, Mihir; Dagha, Jay H.; Sharma, Pooja; Singhal, RashmiDerivatives have become widely accepted as tools for hedging and risk-management, as well as speculation to some extent. A more recent trend has been gaining ground, namely, arbitrage in derivatives.Ítem Acceso Abierto Applying an Efficiency Measure of Desirable and Undesirable Outputs in DEA to U.S. Electric Utilities(Pontificia Universidad Católica del Perú. CENTRUM, 2011) Tone, Kaoru; Tsutsui, MikiThe measure proposed in this paper is a new nonparametric data envelopment analysis (DEA) scheme, the hybrid measure, for determining efficiency in the presence of radial and nonradial inputs or outputs. Further extension of the scheme occurred to address nonseparable desirable and undesirable outputs. Applying the model to measure the overall efficiency of U.S. electric utilities in the presence of both desirable and undesirable outputs indicated that the utilities had improved their overall management and environmental efficiency between 1996 and 2000.Ítem Acceso Abierto Assessing Knowledge Assets in Technology-Intensive Firms: Proposing a Model of Intellectual Capital(Pontificia Universidad Católica del Perú. CENTRUM, 2012) Martín-de Castro, Gregorio; Verde, Miriam DelgadoKnowledge assets are key organizational factors responsible for gaining a sustained competitive advantage in the new knowledge economy characterized by high degrees of environmental turbulence, complexity, and dynamism. Although the scientific and professional literature has provided numerous proposals for measuring a firm’s knowledge stock or intellectual capital, further research is still needed because empirically supported models for the classification and measurement of a firm’s intellectual capital, adapted to different contexts, are not very common. To fill this gap, a model has been developed in order to analyze the nature and measurement of intellectual capital blocks in technology - intensive firms.Ítem Acceso Abierto Assessing Rural Community Empowerment: What it takes to Think Innovatively A Doctoral Research Proposal(Pontificia Universidad Católica del Perú. CENTRUM, 2008) Lopez, Lucy H.Rural communities’ capacity to absorb policy intervention towards sustained development could be improved if individuals thought innovatively as a result of increased empowerment and strengthened community organization involving individual and collective effort. The aim of the proposed study is to analyze the relationship between community members’ empowerment and their innovative thinking, influenced by the social capital of their community organization and using health promotion as the intervening factor. Health, an essential element for development, implies individual’s action through healthy lifestyles and behaviors as well as collective action. The study will take place in rural communities in the Amazon jungle of Peru and will test differences between communities with different intensities of health promotion activities.Ítem Acceso Abierto Assessing Theory and Practice in Competitive Strategy: Challenges and Future Directions(Pontificia Universidad Católica del Perú. CENTRUM, 2008) Parnell, John A.Competitive strategy scholars seek to answer three important questions: (a) what constitutes an effective strategy and how is it crafted, (b) how are strategies implemented in an organization, and (c) how can a strategy’s effectiveness be evaluated? Three corresponding themes, namely, strategy formulation, execution or implementation, and evaluation or control, permeate the competitive strategy literature. In this paper, nine issues of scholarly and practical relevance in the competitive strategy domain are reviewed and assessed. Collectively, the nine issues reflect the significant progress made in competitive strategy research in recent years and opportunities for further development in the field. Directions for future research are discussed.Ítem Acceso Abierto An Assessment of the Potential Capability of Banks in the United Kingdom Banks to Exploit Sociodemographic Change(Pontificia Universidad Católica del Perú. CENTRUM, 2009) Chaston, IanThe purpose of the paper is to examine whether UK banks recognize that population ageing and the increasing wealth the over-50 age group, relative to younger people in the 18-49 year age group, mean the older consumer offers an increasingly important target market to sustain business performance. A mail survey was undertaken of UK bank employees. The survey tool utilized previously validated scales to assess entrepreneurial orientation, strategic flexibility, and organizational competence. Results suggest that, when compared to an earlier study of other financial service providers, branchlevel employees perceive that their banks lack entrepreneurial orientation and strategic flexibility. The implication is the ability of these banks to exploit the opportunity to generate incremental revenue from focusing upon the marketing of services to people over 50 may be somewhat restricted. The survey does indicate, however, that UK banks have the necessary internal capabilities in areas such as human resource management (HRM), service quality, and information management to effectively service the needs of older consumers. Future research is required concerning the motivations of the management within UK banks who have apparently yet to recognize the opportunities available by focusing greater emphasis on the provision of services to older people.Ítem Acceso Abierto The Asymmetric Effects of Monetary Policy in General Equilibrium(Pontificia Universidad Católica del Perú. CENTRUM, 2008) Castillo, Paul; Montoro, CarlosThe study involved extending a dynamic general equilibrium neoKeynesian model by considering preferences that exhibit intertemporal nonhomotheticity. Introducing this feature generates a state-dependent intertemporal elasticity of substitution, which induces asymmetric shifts in aggregate demand in response to monetary policy shocks. The effect, in combination with a convex Phillips curve, generates in equilibrium asymmetric responses in output and inflation to monetary policy shocks similar to those observed in the data. In particular, a higher response of both output and inflation to policy shocks exists when economy growth is temporarily high than temporarily low.Ítem Acceso Abierto Avoiding Large Differences in Weights in Cross-Efficiency Evaluations: Application to the Ranking of Basketball Players(Pontificia Universidad Católica del Perú. CENTRUM, 2011) Cooper, William W.; Ramón, Nuria; Ruiz, Jose L.; Sirvent, InmaculadaBecause of data envelopment analysis (DEA) flexibility in the choice of weights, assessment of decision-making units (DMUs) often involves weighting only a few inputs and outputs and ignoring the remaining variables by assigning them a zero weight. Widespread literature indicates the need to avoid zero weights, and some authors claim that the fact that a given DMU attaches very different weights to the variables involved in the assessments may be a concern (see, for example, Cooper, Seiford, & Tone, 2007). The aim of this paper was to prevent unrealistic weighting schemes in cross-efficiency evaluations through an extension of the multiplier bound approach (Ramón, Ruiz, & Sirvent, 2010a) based on “model” DMUs. The approach in that paper guarantees nonzero weights while at the same time it tries to avoid large differences in the values of multipliers. An application to the ranking of basketball players involved specifying a limit for allowable differences in the relative importance that players attach to different aspects of the game by reflecting those observed in the weight profiles of some model players, which are selected according to expert opinion. The approach provided results that are consistent with basketball expert opinion and illustrated why the classical approaches to cross-efficiency evaluation, which include the benevolent and aggressive formulations, may lead to unreasonable results.Ítem Acceso Abierto Behavioral Anatomy of the Financial Crisis(Pontificia Universidad Católica del Perú. CENTRUM, 2010) Szyszka, AdamIn view of the challenges facing the neoclassical paradigm of economy, behavioral finance which offers an alternative way of looking at the processes taking place in capital markets is growing in importance. By referring to psychology and pointing out the imperfections of a human mind, it reveals mistakes committed by both individual and professional investors. In the 2008 financial crisis, behavioral inclinations affected not only the investors but also market-supporting entities and regulatory institutions. This article presents a brief macroeconomic background and then focuses on the behavioral aspects of the recent market turbulence. The findings of the paper may help avoid psychological traps associated with investing and are important for both investors and regulatory institutions responsible for securing the stability of financial systems.Ítem Acceso Abierto Benchmarking Malaysia in the Global Information Society: Regressing or Progressing?(Pontificia Universidad Católica del Perú. CENTRUM, 2010) Ramasami, RamachandranThe purpose of this paper is to elucidate how the Dalenius-Hodges stratification methodology typically used in sampling, when combined with ranking and index standardization procedures, becomes a powerful policy tool for classifying and benchmarking global information society (GIS) phenomena. The Dalenius-Hodges methodology is preferable to other popular benchmarking methodologies; it has an objective criterion in demarcating strata boundaries and a standardized procedure of compiling indexes irrespective of the nature of the variables and is conceptually simple and easy to compute. For studying GIS phenomena, the paper proposes a socio-technology model, focusing on nine basic variables apportioned under information communications technology (ICT) access, diffusion, usage, and skills. The model uses raw data extracted from 154 International Telecommunication Union (ITU) member countries for 2002 and 2007. For each variable, the countries are ranked and classified under the proposed 8-S Framework, with the most advanced group termed Skaters and the least developed group Sleepers; the other categories are Striders, Sprinters, Sliders, Strollers, Shufflers, and Starters, as determined by the index values, which theoretically range from a minimum score of zero to a maximum of 100. In an attempt to understand the performance of various nations in the GIS ladder, Malaysia’s performance received special attention. After enjoying spectacular growth for more than two decades during the preceding agro-industrial era, Malaysia has been losing its economic advantage to a number of newly liberated economies, in particular, in attracting foreign direct investment (FDI). Malaysia was one of the early adopters of Internet technology among developing nations and pioneered the promulgation of a knowledge-based economy to overcome its loss of investment advantage to a number of low-wage countries in Asia. This has become a major policy concern for Malaysia’s economic performance especially in the wake of new investment factors and criteria related to the information age.Ítem Acceso Abierto Benchmarking Peruvian Banks using Data Envelopment Analysis(Pontificia Universidad Católica del Perú. CENTRUM, 2011) Charles, Vincent; Kumar, Mukesh; Zegarra, Luis Felipe; Avolio, BeatriceDespite the growing literature on bank efficiency worldwide over the last decade, researchers have neglected the Peruvian banking sector. In this paper, the technique of data envelopment analysis (DEA) is used to investigate the efficiency of Peruvian banks for the period 2000 to 2009 to benchmark currently existing banks based on their super-efficiency scores over time. Further, an in-depth analysis of currently existing banks for the period 2008 to 2009 is conducted to check the robustness of DEA efficiency scores and the potential improvement of inputs and outputs for inefficient banks, indicating by how much and in what areas inefficient banks need to improve in order to be efficient. Our finding shows an increasing trend in technical efficiency during the period 2000 to 2009 which gives an indication of an affirmative effect of the reform process in the Peruvian banking sector. On average, the multinational banks are performing better than are domestic banks throughout the period except in 2007, during which a sharp decline in efficiency performance for both the groups was apparent, possibly a result of global financial turmoil. The application of jackknifing analysis with appropriate statistical tools shows the DEA efficiency scores are robust. Among the 14 currently existing banks, Banco Ripley and Banco Santander Peru were the best performers, whereas Banco Azteca was the worst performer, followed by Interbank and Banco de Comercio. Furthermore our findings suggest that inefficient banks require more rigorous policies with respect to the allocation of funds for additional loans as well as other earnings assets. In this way, presently inefficient banks may approach the efficiencies of the best practice banks.Ítem Acceso Abierto Big Data Analytics Based on Logistical Models(Pontificia Universidad Católica del Perú. CENTRUM, 2015) Nywlt, Johannes; Grigutsch, MichaelOver the past years, a change of feedback data in terms of quantity, quality, and timeliness could be observed in production. The generation of high resolution production feedback data enables producing companies to apply big data analytics in order to create competitive advantages. This paper describes how logistical models can be used to conduct big data analytics. It will be explained how such logistic-oriented big data analyses can be applied to improve the logistical performance of producing companies. The results will be illustrated with the help of a best practice project.Ítem Acceso Abierto Case-Study of Internationalization in Peruvian SMEs(Pontificia Universidad Católica del Perú. CENTRUM, 2011) Vásquez, Fernando; Doloriert, Clair H.The aim of the study is to better understand and assess the strategic effectiveness of three Peruvian SMEs, focusing on internationalization and information communication technologies. Through qualitative content and thematic analysis, the authors identify push and pull factors of internationalization and explore e-business tools and technologies. Of the three SMEs, two target the domestic market and consider internationalization as a reactive strategy to home market saturation. The third proactively targets overseas markets. Key barriers include limited expertise and technological resources. A descriptive framework of SME internationalization for the three studied SMEs is proposed that can be used to inform further substantive and correlational inquiry.Ítem Acceso Abierto The Centrality of Urban Economies to the Study of Competitiveness(Pontificia Universidad Católica del Perú. CENTRUM, 2013) Kresl, PeterUrban competitiveness has become a primary focal point for the study of public policy during the past quarter century. As cities have become more exposed to challenges posed to their economic activity by other cities, hundreds or thousands of miles distant as well as the opportunities that are offered to them, it has become incumbent on city leaders, in public and private sector functions, to become more active and innovative. This paper examines this new and rapidly evolving global context, how it has influenced city competitiveness and what city leaders can do to ensure the economic future of their residents. It reviews both the meaning and the measurement of urban competitiveness structures in which city economies function and several major issues that arise from urban competitiveness.Ítem Acceso Abierto Coalition Formation and Data Envelopment Analysis(Pontificia Universidad Católica del Perú. CENTRUM, 2011) Färe, Rolf; Grosskopf, Shawna; Margaritis, DimitriThe introduction of a framework for optimal coalition formation using data envelopment analysis (DEA) methods is the focus of this paper. Simple examples illustrate how DEA is useful in formulating coalition models and deriving optimal solutions. In particular, the paper shows the relevance of the proposed framework in the context of analyzing how companies may reach decisions to acquire potential partners.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.