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Contaduría y Administración
Revista Activa *
ISSN: 0186-1042
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Administración y Contabilidad
Universidad Nacional Autónoma de México
México

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Francisco López Herrera
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José Alberto García Narváez
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en: The study analyzes the characteristics that motivate the voluntary disclosure on intangible representing organizational structural capital of the banking organizations registered on stock exchanges: Brazil and Spain. Traditional accounting is not approaching the real value of the organizations, obtained by its intangible capi- tal. To mitigate the marked difference between the book value and the market price of these organizations, the trend to voluntary disclosures on their intangible resources has emerged. The asymmetry of information, resulting from not accounting for the organizational structural resources is studied by 2 theoretical perspec- tives. Agency theory suggests that the voluntary disclosure of information reduces agency costs. The theory of the cost of the owner assumes that reveal information generates additional costs, as well as the possibility of loss of its competitive advantages. This research examines 174 annual reports of 29 banks, from 2006 to 2011. The technique of multiple linear regressions using the method of least squares with panel data was used. The test results confirm the hypothesis that large banks, the most profitable and the oldest are more motivated to voluntarily disclose information representing organizational structural capital. All Rights Reserved © 2015 Universidad Nacional Autónoma de México, Facultad de Contaduría y Admi- nistración. This is an open access item distributed under the Creative Commons CC License BY-NC-ND 4.0.>>>
Edila Eudemia
Universidad de Panamá
Panamá
CLEA BEATRIZ
Universidade do Vale do Rio dos Sinos
Brasil
es: En el artículo se aplican modelos estáticos y dinámicos de datos de panel para explorar las determinantes y la tendencia del apalancamiento en 14 empresas mineras de México, Colombia, Chile, Brasil y Perú, del primer trimestre de 2004 al tercer trimestre de 2014 y se contrastan los resultados con teorías relevantes. Encontramos que la tangibilidad incrementa el apalancamiento, mientras que el crecimiento y tama ̃ no no tienen efecto significativo. La rentabilidad reduce el apalancamiento, lo cual es consistente con la primera alternativa de la teoría del Orden Jerárquico. Las firmas Colombianas inician con niveles de apalancamiento más bajos y lo reducen conforme la tangibilidad, el tama ̃ no, el crecimiento y la rentabilidad se incrementan, por lo tanto estas empresas son financieramente más estables y su desempe ̃ no, en particular, es también consistente con la primera alternativa de la teoría del Orden Jerárquico. Los valores rezagados del apalan- camiento son determinantes más robustos de los valores presentes en comparación con las demás variables explicativas. Derechos Reservados © 2015 Universidad Nacional Autónoma de México, Facultad de Contaduría y Admin- istración. Este es un artículo de acceso abierto distribuido bajo los términos de la Licencia Creative Commons CC BY-NC-ND 4.0.>>>
Angélica Paredes Gómez
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Gerardo Ángeles Castro
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Miguel Flores Ortega
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en: In addition to making decisions about issues that affect all companies, family business must be able to adequately manage the company-family relationship through an examination of the dynamics that involve founders, successive generations, shareholders and the firm. It is therefore important to develop skills to identify and resolve difficulties raised by these relationships, and adopt strategies to promote growth, share power and control, seeking to create value for the company. Thus why this paper analyzes the effect of succession on the financial and capital structure of family firms. Based on a sample of Mexi- can public companies during the 2005-2011 period, we find that the effects of succession on financial performance varies depending on the generation that leads the company. We find that second-generation family businesses are characterized by greater risk aversion to indebtness and are more conservative com- pared with third-generation family business, characterized by a greater preference for financing through debt. All Rights Reserved © 2015 Universidad Nacional Autónoma de México, Facultad de Contaduría y Admi- nistración. This is an open access item distributed under the Creative Commons CC License BY-NC-ND 4.0.>>>
Juan Manuel San Martín Reyna
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Jorge Alberto Durán Encalada
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en: This study analyzes with a quantitative design the differences in the motivational and organizational values of four generations of employees working in the maquiladora industry in Ciudad Juarez. The empirical study used a sample of 1,271 employees in the 2013 year. For the information analysis and identification of possible differences the Anova test was used. Since this study is based on analyzing the differences in the motivators between four generations of employees of the study, a factorial analysis and Oblimin rotation was performed. To confirm these differences t test was used with Bonferroni correction. The results provide different elements that other studies have provided. The existence of significant differences between the four generations of employees in the importance given to the motivational and organizational values represents valuable information that academics and companies could consider. All Rights Reserved © 2015 Universidad Nacional Autónoma de México, Facultad de Contaduría y Admi- nistración. This is an open access item distributed under the Creative Commons CC License BY-NC-ND 4.0.>>>
Jorge Arturo Hernández Palomino
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José de Jesús Espinoza Medina
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Manuel Aguilar Arellano
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en: On this basis, the research problem that arises for this article is to discern if employers under study are oriented either towards sustainability or corporate social responsibility, taking into account their consideration of certain economic, social and environmental variables. To do this, 3 objectives are proposed: 1) to identify variables related to economic, social and environmental aspects that allow a company to be labelled as responsible, in the context of study, 2) to relate these variables with the constructs of sustainability or corporate social responsibility and 3) to determine to which construct entrepreneurs object of study are oriented. The empirical study was carried out with entrepreneurs from 127 organizations in the province of Cordoba-Argentina and it concluded that the initial hypothesis is invalid, since the most important variables that interviewers identify respond almost entirely to the construct of sustainability instead corporate social responsibility. All Rights Reserved © 2015 Universidad Nacional Autónoma de México, Facultad de Contaduría y Admi- nistración. This is an open access item distributed under the Creative Commons CC License BY-NC-ND 4.0.>>>
Celina Noé Amato
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Mónica Buraschi
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María Florencia Peretti
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en: The purpose of this article is to analyze the contribution of the technology-based firms (TBF) to the Mexican economy. The study includes the revision of the sectors in which the TBF participates as well as the participation of the 4 firm strata by their size. The comparison emphasizes the contribution of the SME and the big-sized enterprises on the added value generation in the sectors where they are placed, emphasizing the general performance. The main highlights point that the Mexican TBF contributes on little more than 20% of the national manufacturing GDP despite being just the 2% of the total Mexican firms. Also it was identified that the micro-sized firms has the highest added value but the big-sized firms are the ones with major economy contribution. Additionally it was found that the increasing returns of scale are not a condition that affects on the performance of the TBF. All Rights Reserved © 2015 Universidad Nacional Autónoma de México, Facultad de Contaduría y Administración. This is an open access item distributed under the Creative Commons CC License BY-NC-ND 4.0.>>>
Moisés Alejandro Alarcón Osuna
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Claudia del Carmen Díaz Pérez
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en: The need for an assessment of the role of intangible assets in organizations makes it necessary to establish strategies between value creation based on knowledge and the mechanisms developed for their acquisition in firms. This research raises the question of establishing elements to develop the ability to strengthen business knowledge acquired through actions focused on information systems, innovation and decision making pro- cess, all contributing to the expansion of business intelligence as a key factor in business competitiveness. It is a mixed research: by using in-depth interviews in qualitative approach and a questionnaire in the quantitative approach, in firms from the Information and Communication Technologies (ICT) Economical Sector. The main findings are: (i) knowledge is the most valuable asset in modern ICT firms; (ii) business environment is essential for competitiveness; (iii) innovation, information systems and decision making process are part of business intelligence and is required by firms, and (iv) business intelligence develops competitiveness from knowledge management point of view. All Rights Reserved © 2015 Universidad Nacional Autónoma de México, Facultad de Contaduría y Admi- nistración. This is an open access item distributed under the Creative Commons CC License BY-NC-ND 4.0.>>>
Eduardo Ahumada Tello
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Juan Manuel Alberto Perusquia Velasco
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Alexei Gómez Eguiarte Martínez
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Gabriel de las Nieves Sánchez Guerrero
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en: The aim of this paper is to outline the methodology based on the use of Bayesian networks (BN) to identify and quantify operational risk (OR) factors associated with processing financial transactions throughelectronic means in a financial company. BN model developed is exemplified with data from simulated events equivalent to six years period, from information provided by experts in this type of process. This represents one of the main advantages of using BR, they allow modeling the cause-effect relationships between different OR factors. Finally operational value at risk (OpVaR) for the example is calculated, where interacting factors that are not considered in the traditional model are incorporated, providing better conditions of credibility to this value. All Rights Reserved © 2015 Universidad Nacional Autónoma de México, Facultad de Contaduría y Admi- nistración. This is an open access item distributed under the Creative Commons CC License BY-NC-ND 4.0.>>>
Griselda Dávila Aragón
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Francisco Ortiz Arango
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Fernando Cruz Aranda
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en: The most commonly used financial models for the estimation of market risk either assume that asset returns follow a Normal distribution or are based on the empirical distribution. More often than not, the normality assumption is taken for granted. However, it is not realistic due to skewness and excess kurtosis observed in the actual behavior of asset returns. In this work we show evidence that finite Gaussian mixture are an efficient model for the distribution of asset returns. We study the model and obtain expressions to estimate the usual market risk metrics. We illustrate its application by estimating risk figures for a portfolio of Mexican assets using the proposed model and comparing them against values produced with the most widely used models. All Rights Reserved © 2015 Universidad Nacional Autónoma de México, Facultad de Contaduría y Admi- nistración. This is an open access item distributed under the Creative Commons CC License BY-NC-ND 4.0.>>>
Jorge Rosales Contreras
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