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Article
Publication date: 4 September 2017

Sergio-Andres Pulgarin-Molina, Andres Mauricio Castro, Alejandra Ballesteros and Juan Manuel Barrera

This paper aims, first, to advance the current understanding about the impact of innovation in non-traditional exports, and, second, to provide insights about the structure of…

Abstract

Purpose

This paper aims, first, to advance the current understanding about the impact of innovation in non-traditional exports, and, second, to provide insights about the structure of emergent economies often not regarded by traditional innovation and export theories.

Design/methodology/approach

A longitudinal analysis using panel data based on Box Jenkins’ theory was conducted, so to identify statistically significant variables on export performance, regarding expenditure on research, development and innovation (R&D + I) activities, ICT and specialized training and formation.

Findings

This study suggests the need to design public policies aimed at stimulating innovation in potential export sectors, as a mechanism for competitive development and growth in emergent economies such as Colombia.

Originality/value

The introduction of innovations in goods and services exports has become more important in economies, such as the Colombian ones, where globalization openness processes force to establish minimum competitiveness levels regarding the international standards.

Details

International Journal of Innovation Science, vol. 9 no. 3
Type: Research Article
ISSN: 1757-2223

Keywords

Article
Publication date: 4 December 2023

Jhon James Mora and Andres David Espada Castro

This article analyzes the determinants of credit constraints and their effects on the productivity of micro-firms in Colombia.

Abstract

Purpose

This article analyzes the determinants of credit constraints and their effects on the productivity of micro-firms in Colombia.

Design/methodology/approach

An Endogenous Switching Regression Model (ESRM) is estimated to analyze credit constraint impact on economic performance.

Findings

The results show that owner characteristics such as age and gender decrease the likelihood of being constrained. Firms' characteristics, such as legal status, the formality of the employees, commercial property and savings, are important for reducing credit constraints.

Originality/value

This article discusses how formal credit restrictions harm the economic performance of Colombia's micro-firms. The results show that the productivity of the micro firms in Colombia could increase, on average, by U$ 825 USD when all types of restrictions are eliminated.

Details

Journal of Economic Studies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0144-3585

Keywords

Expert briefing
Publication date: 12 May 2016

The future of Telesur.

Open Access
Article
Publication date: 27 June 2022

Andres Mauricio Gomez Sanchez, Juliana Isabel Sarmiento-Castillo and Claudia Liceth Fajardo-Hoyos

The aim of this paper is to disentangle the contemporaneous and non-contemporaneous relationship between regional business cycles and manufacturing productivity in a developing…

Abstract

Purpose

The aim of this paper is to disentangle the contemporaneous and non-contemporaneous relationship between regional business cycles and manufacturing productivity in a developing country, namely Colombia.

Design/methodology/approach

The methodology is quantitative. To deal with the problems of endogeneity in the production function and with the law motion of productivity (the Markov process), the authors obtain Total Factor Productivity (TFP) through the Wooldridge’s two equations system that can be jointly estimated under the generalized method of moments framework (GMM). Secondly, to avoid bias we estimate regional business cycles through the Kalman filter. Subsequently, we implement an instrumental variables/generalized method of moments regression (IV/GMM) to capture the contemporaneous and endogenous TFP–GDP cycles’ linkage at the regional level. Lastly, to deal with the non-contemporaneous link, the authors estimate a vector autoregressive model with exogenous variables (VARX) for each region. We also present the corresponding impulse–response functions.

Findings

The authors’ general results suggest a remarkable causality, both contemporary and non-contemporary, from productivity to GDP (but not vice versa) in the most developed regions of the country. This implied productivity could influence in the economic growth of regions in short and long runs. These results are different than those expected by economic theory and should be considered by local economic policy makers.

Research limitations/implications

The authors consider that a more detailed analysis should be carried out at the level of each sector within the manufacturing industry to further clarify these findings.

Practical implications

The policy should be oriented to obtaining cutting-edge technologies through subsidies, and also should facilitate the access to financial capital and the investment in R&D laboratories. On the other hand, the link with international trade also must be reinforced because the importing of intermediate inputs and exporting of output allow the firms to obtain embodied technologies, also to incur on learning by exporting and importing processes and finally to gain experience and competitiveness in foreign markets.

Social implications

The causality in the region that provides more than 50% of economic activity within the country (Third region) is only in one directional, from TFP towards gross domestic product (GDP) and not vice versa. As the influence from GDP towards TFP is minimal in the remaining regions, the manufacturing productivity influences both short and long run regional economic growth in Colombia. This implies that economic policy at the level of macro-region must be modified; the government should give additional support to the manufacturing sector, especially in developed regions and for the small and medium-sized enterprises (SMEs) (wich represent 92% of manufacturing firms) to increase economic growth in the future.

Originality/value

The authors’ contribution is threefold. First, they pay special attention to the contemporaneous cyclical relationship (i.e. pro-cyclical, counter-cyclical or acyclic) and the non-contemporaneous causality with productivity. Second, they estimate productivity with the GMM two equation system considering an endogenous Markov process. Third, to the best of their knowledge, at least in the case of Latin America, there are no studies in this direction combining these statistic methods, including that of Colombia.

Details

EconomiA, vol. 23 no. 1
Type: Research Article
ISSN: 1517-7580

Keywords

Abstract

Purpose

This article aims to report on the development and validation of a bribery measurement index for the business sector, which, based on institutional theory, seeks to overcome the limitations of traditional measurements, recognizing the dynamics that originate the phenomenon and identifying process components.

Design/methodology/approach

To construct the index, correlational and principal component analysis techniques were used, as well as rigorous statistical tests, validating the instrument in a sample of 2,963 companies in Latin America, including Argentina, Colombia, Chile, Ecuador, Guatemala, Mexico and Peru.

Findings

The result was an instrument composed of two dimensions: (1) anti-bribery game rules, composed of regulations knowledge and anti-bribery efforts, and (2) bribery as a perceived habit, allowing an objective representation of reality due to its internal consistency, concurrent and discriminant validity.

Practical implications

This instrument is one of the few that focuses on measuring bribery in the business sector in terms of corrupt practices, applicable for both public and private institutions to promote game rules against bribery. Additionally, the proposed theoretical model can be used to measure other phenomena with similar characteristics.

Originality/value

This article empirically highlights different variables that make bribery possible. The results can be helpful in the design of strategies to prevent this type of behavior. It also highlights the importance of designing mechanisms to record information related to bribery and the different expressions of corruption in order to explain its different nuances.

Propósito

Este artículo informa sobre el desarrollo y validación de un índice de medición de soborno para el sector empresarial, que, basado en la teoría institucional, busca superar las limitaciones de las mediciones tradicionales, reconociendo las dinámicas que originan el fenómeno e identificando los componentes del proceso.

Diseño/metodología/enfoque

Para la construcción del índice se utilizaron técnicas de análisis correlacional y de componentes principales, así como rigurosas pruebas estadísticas, validando el instrumento en una muestra de 2.963 empresas de América Latina, entre ellas Argentina, Colombia, Chile, Ecuador, Guatemala, México y Perú.

Hallazgos

El resultado fue un instrumento compuesto por dos dimensiones: (1) reglas de juego antisoborno, compuestas por conocimiento normativo y esfuerzo antisoborno (2) soborno como hábito percibido, permitiendo una representación objetiva de la realidad debido a su consistencia interna, validez concurrente y discriminante.

Originalidad/Valor

Este artículo pone en evidencia empírica diferentes variables que hacen posible el soborno. Los resultados pueden ser útiles en el diseño de estrategias para prevenir este tipo comportamiento, también destaca la importancia de diseñar mecanismos para registrar la información relacionada con la lucha contra el soborno.

Implicaciones prácticas

Este instrumento es uno de los pocos que se enfoca en medir el soborno en el sector empresarial en términos de prácticas de corrupción, útil para instituciones tanto públicas como privadas para promover mejores reglas de juego en contra del soborno. Adicionalmente el modelo teórico propuesto puede ser utilizado para medir otros fenómenos con características similares.

Details

Academia Revista Latinoamericana de Administración, vol. 36 no. 2
Type: Research Article
ISSN: 1012-8255

Keywords

Article
Publication date: 31 May 2022

Marcelo G. Amaral, André Luis Furtado da Hora and Marília Medeiros Schocair

This study aims to examine the evolution of three science, technology and innovation parks (STIPs) located in the state of Rio de Janeiro, Brazil, from the perspective of the…

Abstract

Purpose

This study aims to examine the evolution of three science, technology and innovation parks (STIPs) located in the state of Rio de Janeiro, Brazil, from the perspective of the university–industry–government linkages.

Design/methodology/approach

This is a multiple case study organized in two stages: first, bibliographic and documentary research to develop a theoretical framework and description of the innovation environments; and second, interviews and forms filling with 13 managers and stakeholders, combined with participant observation. The analysis and assessment of the evolution of each environment are based on a tool named Amaral’s Model for Innovation Environment Management (AMIEM).

Findings

There are critical issues for the development of STIPs, namely, governance structure, government participation and the relationship with knowledge sources such as universities. The time of existence is not a significant factor in reaching evolution. Although common factors are present in all environments, local particularities, specific characteristics, regional vocations, management leadership and other elements have an impact on park performance.

Practical implications

AMIEM is an assessment tool and a technological product, useful in mapping and evaluating innovation environments.

Social implications

STIPs are dynamic and maturing, requiring active management and engagement with government and companies.

Originality/value

The results allow a better comprehension of the evolution and management of the STIPs located in the state of Rio de Janeiro. Another contribution lies in the organization of information to design public policies.

Details

International Journal of Innovation Science, vol. 15 no. 2
Type: Research Article
ISSN: 1757-2223

Keywords

Case study
Publication date: 20 January 2017

Ivan Lansberg, Mary Alice Crump and Sachin Waikar

This case presents the history and recent governance challenges of Carvajal, S.A., a Colombia-based, family-owned, billion-dollar-plus holding company that had offered…

Abstract

This case presents the history and recent governance challenges of Carvajal, S.A., a Colombia-based, family-owned, billion-dollar-plus holding company that had offered printing-related (e.g., Yellow Pages, notebooks) and other products and services across and beyond South America for more than a century. Specifically, the case details the company’s state of affairs in early 2011, a time by which Carvajal’s flagship businesses had matured rapidly with the emergence of digital technology and diminished demand for paper/print-based products. Though profits and growth remained positive, Carvajal’s leaders knew that upholding the business’s legacy of returns, dividends for all family members, and extensive philanthropy would take significant strategy and execution.

Compounding the strategy issues, Carvajal faced these market challenges with new leadership: the first non-family CEO since the company’s inception. Well-established Colombian executive Ricardo Obregon had been hired in 2008 over two family candidates to lead the business. Obregon was to oversee a complex governance network that included a holding company with seven operating companies, their management and respective boards, a family council, and 280 members (including spouses) of a shareholding family in its sixth generation. Carvajal’s business and family leaders had to face market issues and decisions that included the possibility of taking public the operating companies and/or the holding company while maintaining the business’s long traditions of unity, respect, strong ethics, and philanthropy. That meant optimizing several crucial relationships: between the family and the new CEO; between the family and the board; between the operating companies and the holding company; and between members of the large Carvajal family, many of whom now resided outside of Colombia and Latin America.

Understand general and specific challenges associated with carrying on a longstanding family business facing multiple market challenges; explore the process of engaging a complex family-business governance network to handle business challenges while maintaining family values; consider the effects of culture on a multi-generation family business.

Abstract

Details

Journal of Intelligent Manufacturing and Special Equipment, vol. 4 no. 1
Type: Research Article
ISSN: 2633-6596

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