Search results

The aim of this paper is to determine chemical and sensory differences of between craft and industrial/or commercial beers. Beer market is nowadays booming and consumers are in the search of new and healthier products.

Here, commercial and craft beers were chemically analyzed and sensory evaluated. Chemical analysis included pH, bitterness, color, total polyphenol content and antioxidant activity. Likewise, 40 sensory descriptors were evaluated by trained panelists, including visual, olfactory and gustatory attributes. In addition, an electronic nose (e-nose) was tested to determine its suitability to discriminate beer type and/or style according to their volatiles profile.

Craft beers presented higher values of color, bitterness and antioxidant activity when compared to commercial beers. Sensory descriptors showed craft beers to be associated with the highest scores in visual, olfactory and gustatory descriptors. Data from e-nose explained 97% of the total variability of the volatile compounds in the analyzed beers, indicating the suitability of this device to discriminate beer types.

Results are of interest for design of marketing and selling techniques for craft brewery managers. In addition, cheap and easy-managing device as e-nose resulted in a valuable tool to monitoring beer quality.

Value at risk (VaR) is a market risk measure widely used by risk managers and market regulatory authorities, and various methods are proposed in the literature for its estimation. However, limited studies discuss its distribution or its confidence intervals. The purpose of this paper is to compare different techniques for computing such intervals to identify the scenarios under which such confidence interval techniques perform properly.

The methods that are included in the comparison are based on asymptotic normality, extreme value theory and subsample bootstrap. The evaluation is done by computing the coverage rates for each method through Monte Carlo simulations under certain scenarios. The scenarios consider different persistence degrees in mean and variance, sample sizes, VaR probability levels, confidence levels of the intervals and distributions of the standardized errors. Additionally, an empirical application for the stock market index returns of G7 countries is presented.

The simulation exercises show that the methods that were considered in the study are only valid for high quantiles. In particular, in terms of coverage rates, there is a good performance for VaR(99 per cent) and bad performance for VaR(95 per cent) and VaR(90 per cent). The results are confirmed by an empirical application for the stock market index returns of G7 countries.

The findings of the study suggest that the methods that were considered to estimate VaR confidence interval are appropriated when considering high quantiles such as VaR(99 per cent). However, using these methods for smaller quantiles, such as VaR(95 per cent) and VaR(90 per cent), is not recommended.

This study is the first one, as far as it is known, to identify the scenarios under which the methods for estimating the VaR confidence intervals perform properly. The findings are supported by simulation and empirical exercises.

Throughout centuries, Latin America has faced a paradox. On one hand, the abundance of resources has attracted immigrants who find a suitable place to undertake profitable business ventures in the region. On the other hand, the limited entrepreneurial resources of most countries of the region have motivated the migration of talented people, among them entrepreneurs, to non-Latin American countries. This chapter explores this paradox through the analysis of entrepreneurs' motivations to immigrate to, and migrate from Latin America, the influence of their profile on their business ventures, as well as the role played by both the home and the host countries' institutional conditions. The findings of this analysis underline the diversity of migrant entrepreneurs in terms of personal resources and survival versus opportunity-driven migration decisions. They also reveal the kind of mechanisms migrant entrepreneurs use to counteract their host country's institutional challenges.

There is a consensus in the literature on entrepreneurship on the crucial role of environmental conditions in the identification, development, and quality of entrepreneurial initiatives. Given the relevance of entrepreneurship and the lack of evidence, academic debates request more evidence regarding the main determinants of entrepreneurial activities in emerging economies. Inspired by these academic debates, the objective of this chapter is to provide a better understanding of the role of entrepreneurship in Mexico. Our preliminary results allow us to identify applied research trends to study the entrepreneurial spirit in Mexico, as well as elements to discuss the myths, realities, and challenges faced by Mexican entrepreneurs during the last government administration. Our chapter contributes with implications for entrepreneurs, researchers, and decision-makers.

This paper examines the evolution of Intellectual Property (IP) commercialization in historical perspective. IP Law imposes an incentive structure that determines the extent of societal investment in those assets. From their inception at the dawn of the Industrial Revolution, IP has expanded due to the introduction of new technologies. Property rights allocation over these assets has traditionally been assigned to governments centralizing the recognition of such property. For a long period of time, government intervention was critical to allow IP commercialization; hence, the political economy of IP was dictated by the prevailing ideology of policymakers in favor or against market transactions. The resulting clash of ideologies has marked the position of developing countries seeking exclusions from open IP commercialization to obtain temporary relief from foreign competition of technology producing countries, as well as that of industrialized countries, seeking to export their technologies overseas. The emergence of blockchain technology, as a decentralized transaction exchange protocol that makes intermediary centralized institutions (i.e. governments) certifying IP irrelevant over a large portion of intellectual property (i.e., trade secrets and copyrights) will create revolutionary institutions facilitating IP commercialization, such as NFTs. We examine this historical evolution in the context of legal institutions governing intellectual property transactions and technology transfer.

COVID-19 has spread so quickly and uninterruptedly that it has put great pressure on the capacities of emerging countries, especially the Latin America area. Its impacts that will have on businesses and entrepreneurs, it can be inferred that the duration of this crisis is still uncertain; thus, the aim on this chapter is to aggregate the current knowledge on how COVID-19 has impacted the entrepreneurship, and their expectations in the short and medium term. We examined 37 articles published between 2020 and 2021. To develop the discussion, we conducted descriptive review including year, affiliation of the first author, type of study, research methods in reviewed papers, and the origin of the empirical sample. We follow our thematic analysis within four broad categories: (1) crisis; (2) digitalization; (3) education; and (4) employment. Our results show that the call to address grand challenges, particularly relate to digitalization, public policies focused on supporting entrepreneurs and education in entrepreneurship in the Latin America context.

The notion that the family have a profound effect on human behavior is indisputable and has been studied extensively, including business administration. However, these studies have focused on developed countries. So, it can be identifying a research gap related to understand these countries, especially from a contextual perspective, which is the one that has received less attention from the academy.

This paper presents a theoretical review of the contextual perspective of the study of family businesses that concludes with the proposal of a model that integrates the structural barriers to contextualize the analysis family businesses in emerging economies, especially in rural zones.

Three case studies of companies located in the Puuc biocultural region in Yucatan, México, are presented and discussed.

The cases presented are family businesses: “Vida Vida,” “La Vaquita,” and “Lool-Beek” in which similarities were found in the way they face the particularities of their environment and how the integration of family members responds to uncertainty due to the precarious legal framework and the scant economic development they face.

This paper proposes that the structural barriers faced by emerging countries should be integrated as a differentiated variable, especially those located in rural areas since there imply greater challenges than urban areas. Likewise, it highlights that the emotional connections of family businesses with their territory give them roots, and this contributes to the continuity of their businesses and empowers them to face challenges such as natural disasters and the COVID-19 pandemic.