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Article
Publication date: 5 March 2018

Enrique Ogliastri, Carlos Pombo and Elvira Salgado

The purpose of this paper is to introduce the anniversary issue marking 30 years of academic publication.

Abstract

Purpose

The purpose of this paper is to introduce the anniversary issue marking 30 years of academic publication.

Design/methodology/approach

This anniversary issue contains 12 articles from 11 countries and 17 academic institutions which present literature reviews, meta-analyses, and novel studies. It also contains testimonials about the history of the journal from Enrique Ogliastri (Editor and/or Director between 1998 and 2018), Elvira Salgado (Editor between 2002 and 2013), and Carlos Pombo (Chief Editor, 2013 to the present).

Findings

The history of the journal may be divided into five stages: first, the foundation at the Universidad de Chile (1988-1998); second, the move to the Universidad de los Andes (Bogotá) and the preparation of a proposal to the Institute of Scientific Information (ISI) for inclusion among the scientific journals of the world (1999-2004); third, a period of consolidation in Latin America (2004-2007); fourth, the acceptance of the journal in ISI and the development of an electronic platform with free access to the journal (2008-2013); and fifth, the entry of the Emerald group as editorial partner (2013-2018).

Originality/value

The 12 articles present literature reviews, meta-analyzes, and novel studies.

Propósito

El propósito de este editorial es presentar el tema del aniversario.

Diseño/metodología/enfoque

Se publican doce artículos provenientes de once países y 17 instituciones académicas. Se presentan los testimonios de Enrique Ogliastri (editor y/o director entre 1998 y 2018), Elvira Salgado (Editora entre 2002 y 2013), y Carlos Pombo (jefe editorial 2013-2018).

Hallazgos

Se publican doce artículos provenientes de once países y 17 instituciones académicas. Se presentan los testimonios de Enrique Ogliastri (editor y/o director entre 1998 y 2018), Elvira Salgado (Editora entre 2002 y 2013), y Carlos Pombo (jefe editorial 2013-2018). La historia de la revista de CLADEA se podría dividir en cinco etapas: la fundación en la Universidad de Chile (1988-1998); pasó a cargo de la Universidad de los Andes (Bogotá), un período de puesta a punto para presentar al Institute of Scientific Information (ISI) la solicitud de ser analizada e incluida entre las revistas científicas del mundo (1999-2004); el período de consolidación en América Latina (2004-2007); la aceptación en ISI y el desarrollo de una plataforma electrónica de acceso libre a la revista (2008-2013); y el ingreso del grupo Emerald como socio editorial (2013-2018).

Originalidad/valor

Los 12 artículos presentan revisiones de literatura, metanálisis y estudios novedosos

Article
Publication date: 5 June 2017

Carlos Pombo

999

Abstract

Details

Academia Revista Latinoamericana de Administración, vol. 30 no. 2
Type: Research Article
ISSN: 1012-8255

Content available
Article
Publication date: 1 August 2016

Carlos Pombo

447

Abstract

Details

Academia Revista Latinoamericana de Administración, vol. 29 no. 3
Type: Research Article
ISSN: 1012-8255

Article
Publication date: 10 May 2021

Carlos Pombo and Maria Camila De La Hoz

This paper examines how the board of directors' attributes in terms of educational and professional backgrounds –that is board capital-, and demographics influence…

Abstract

Purpose

This paper examines how the board of directors' attributes in terms of educational and professional backgrounds –that is board capital-, and demographics influence institutional ownership across listed companies in Latin America.

Design/methodology/approach

Based on unique hand-collected information of directors' educational and professional attributes across 427 firms in Latin America, the authors analyze the effects of directors' educational attainment, professional experience and demographic diversification on institutional investors' holdings.

Findings

Results show that grey investor ownership favors directors with graduate studies and diverse boards regarding gender and nationality. Independent investors value the directors' professional experience like former founders of a firm. Grey investors are more concerned with firm corporate governance mechanisms, consistent with the agency view. In contrast, independent institutional investors focus on business opportunities following the board of directors' resource-based view.

Research limitations/implications

This study shows that board capital becomes a key determinant for institutional ownership in emerging markets.

Originality/value

This study extends previous literature on institutional investor preferences by providing empirical evidence that firm board capital becomes a collective asset that is central for institutional investors' investment choices for an emerging market case.

Details

Managerial Finance, vol. 47 no. 10
Type: Research Article
ISSN: 0307-4358

Keywords

Abstract

Details

Academia Revista Latinoamericana de Administración, vol. 34 no. 3
Type: Research Article
ISSN: 1012-8255

Article
Publication date: 3 August 2015

Carlos Pombo and Enrique Ogliastri

This Special Issue is dedicated to the memory of the unexpectedly deceased Professor Luis J. Sanz, president of BALAS and Associate Editor of ARLA. The issue includes six…

273

Abstract

This Special Issue is dedicated to the memory of the unexpectedly deceased Professor Luis J. Sanz, president of BALAS and Associate Editor of ARLA. The issue includes six papers from Chile, Spain and Costa Rica/Argentina. The case study is on the privatization of the Buenos Aires underground in 1998, a topic of renewed interest in 2015. One of the studies determines the effect of director education and international experience on the firm’s access to international markets. Another paper studies the effect of corporate board diversity on company reputation. The third analyzes the negative effect of the politicization of State savings banks on the benefits of these financial institutions in Spain. The fourth studies the effect of the diversification strategy and cross-control by shareholder groups on firm value in Chile. Finally, we have a literature review, using meta-analysis methodology, on the relationship between auditor specialization by industry and the structure of audit fees.

Resumen

Este número especial es dedicado a la memoria del súbitamente fallecido profesor Luis J. Sanz, presidente de BALAS y Editor Asociado de ARLA. Publicamos seis trabajos originados en Chile, España, y Costa Rica/Argentina. El caso trata sobre la privatización del metro de Buenos Aires en 1998, tema de renovada vigencia en 2015. Un estudio determina el efecto de la educación de posgrado y la experiencia internacional de los directores en el nivel de acceso a mercados internacionales de sus empresas. El segundo estudia el efecto de la diversidad en la composición de las juntas directivas sobre la reputación de la empresa. Tercero, se analiza el efecto negativo de la politización de las cajas de ahorros estatales en los beneficios de estas instituciones financieras en España. Cuarto, se estudia el efecto de la estrategia de diversificación y del control cruzado de grupos de accionistas sobre el valor de la empresa en Chile. Finalmente, una revisión de la literatura con metodología de meta análisis sobre la relación entre la estructura de auditores especializados por sector empresarial y la estructura de precios de sus tarifas.

Details

Academia Revista Latinoamericana de Administración, vol. 28 no. 3
Type: Research Article
ISSN: 1012-8255

Article
Publication date: 2 March 2015

Carlos Pombo and Enrique Ogliastri

438

Abstract

Details

Academia Revista Latinoamericana de Administración, vol. 28 no. 1
Type: Research Article
ISSN: 1012-8255

Article
Publication date: 2 March 2015

Enrique Ogliastri

This issue includes six articles from ten universities in Chile, Colombia and Spain. The subjects are on entrepreneurship, public administration, management of…

590

Abstract

This issue includes six articles from ten universities in Chile, Colombia and Spain. The subjects are on entrepreneurship, public administration, management of intellectual capital marketing and also the immediate rejection policies of the journal's editor. The first study identifies different models of support programs in creating technology-based companies (spin‐offs) in universities from Spain and Great Britain, and the factors that determine their efficiency. The second one is on that factors that lead a person to entrepreneurship, particularly the impact of gender and the sociocultural aspects in regional entrepreneurships of Chile. The third studies the continuity of the entrepreneurial spirit in university students many years after graduating. The fourth makes an evaluation of the service portals available to the citizens of 19 countries in Latin America. The fifth is a study of the nets of scientific collaboration of the most prestigious Latin American business schools. The sixth is a study on the market orientation and obtained results in the business of rural tourism. An Editorial also deals with the criteria for immediate rejection of articles received by the journal. We plan a special issue on culture and art management, associated with the EURAM conference.

Resumen

Este número incluye seis artículos provenientes de diez universidades de Chile, Colombia y España, sobre emprendimiento, administración pública, gestión del capital intelectual y mercadeo, así como la política de rechazo inmediato del editor de la revista. El primer estudio identifica diferentes modelos de programas de apoyo a la creación de empresas con base tecnológica (spin‐offs) en universidades de España y Gran Bretaña, y los factores que determinan su eficacia. El segundo sobre factores que llevan a una persona a emprender, en particular el impacto del género y aspectos socioculturales en los emprendimientos regionales en Chile. El tercero estudia la continuidad del espíritu empresarial de los universitarios varios años después de graduarse. El cuarto realiza una evaluación de los portales de servicio al ciudadano en 19 países de América Latina. El quinto es un estudio de las redes de colaboración científica de las escuelas de negocios más prestigiosas de América Latina. El sexto es un estudio sobre la orientación al mercado y los resultados obtenidos en el negocio de pequeñas firmas de servicios de turismo rural. Un Editorial trata sobre los criterios para rechazo inmediato de artículos recibidos en la revista. Planeamos un número especial sobre la gestión cultural y de arte, asociada a la conferencia de EURAM.

Details

Academia Revista Latinoamericana de Administración, vol. 28 no. 1
Type: Research Article
ISSN: 1012-8255

Article
Publication date: 18 September 2020

Saima Karim and Muhammad Ilyas

The aim of this study is to investigate the effect of foreign institutional investors (FII) on the contribution of cash and dividend to firm's value in the context of Japan.

Abstract

Purpose

The aim of this study is to investigate the effect of foreign institutional investors (FII) on the contribution of cash and dividend to firm's value in the context of Japan.

Design/methodology/approach

This study used a sample of 1,929 nonfinancial firms listed in Tokyo Stock Exchange in the period from 2002 to 2016. For data analysis, pooled OLS regression with firm and year fixed effect is applied. Further, the p-value of difference is used to test the null hypothesis of equal coefficients.

Findings

The findings depict that cash holdings contribute more to firm's value when ownership by FII is high. Contrarily, dividends contribute more to firm's value when ownership by FII is low. The results remain consistent after using excess cash holdings instead of cash holdings and after re-estimating the main regression model in the presence of top 30% and bottom 30% ownership level.

Research limitations/implications

This study is limited to Japanese nonfinancial sector. The results implied that firms where the probability of managerial agency cost and expropriation of cash is high, the presence of FII mitigates the agency cost and positively influences the contribution of cash to firm's value. Overall, this research highlighted the disciplinary and monitoring role of FII in Japan.

Originality/value

This study provides new insights on the monitoring and governance role of foreign institutions, showing that FII promote better cash management and utilization, which significantly affects the contribution of cash holdings to firm's value.

Details

Managerial Finance, vol. 47 no. 3
Type: Research Article
ISSN: 0307-4358

Keywords

Article
Publication date: 24 August 2021

Miguel Cordova, Dinorá Eliete Floriani, Maria Alejandra Gonzalez-Perez, Michel Hermans, Santiago Mingo, Fabiola Monje-Cueto, Karla Maria Nava-Aguirre, Carlos Adrian Rodriguez and Erica Salvaj

This paper aims to provide insights into the internationalization strategic responses to the COVID-19 pandemic by higher education institutions (HEIs) in Latin America.

Abstract

Purpose

This paper aims to provide insights into the internationalization strategic responses to the COVID-19 pandemic by higher education institutions (HEIs) in Latin America.

Design/methodology/approach

This study is based on information from eight leading Latin American private universities. The data were obtained from official sources such as institutional communications and university administrators.

Findings

The authors identify two main issues that HEIs should consider while responding to the pandemic. First, greater attention and resource allocation to the universities' main local stakeholders can affect traditional internationalization activities. Second, a focus on revitalizing foreign partnerships and strengthening “virtual internationalization” can help maintain and eventually increase international presence.

Research limitations/implications

While this study analyses how these Latin American HEIs responded during the initial stages of the COVID-19 outbreak, it is important to conduct follow-up studies to shed light on how HEIs are adapting to the COVID-19 crisis as it continues to unfold.

Originality/value

This study is based on unique information gathered from leading private, not-for-profit HEIs in Latin America, which, contrary to state-owned HEIs or other private institutions in developed economies, have exhibited different means and conditions to respond to the coronavirus outbreak. Finally, the authors contribute to the literature on the internationalization of HEIs by discussing the role of a significant disruptive event on the internationalization of higher education and, particularly, business schools.

Propósito

Este artículo discute las respuestas estratégicas de internacionalización frente a la pandemia del COVID-19 implementadas por Instituciones de Educación Superior (IES) en América Latina.

Diseño/metodología/aproximación

Este estudio se basa en información de ocho universidades privadas líderes en América Latina. La información fue obtenida de fuentes oficiales tales como comunicados institucionales y autoridades.

Hallazgos

Identificamos dos temas principales que las IES deben considerar mientras responden al COVID-19. Primero, una mayor atención y reubicación de recursos hacia los principales grupos de interés local puede afectar las actividades tradicionales de internacionalización. Segundo, revitalizar las alianzas extranjeras y fortalecer la “internacionalización virtual” puede ayudar a mantener y eventualmente incrementar la presencia internacional.

Limitaciones de investigación/implicaciones

Si bien este estudio analiza cómo un grupo de IES Latinoamericanas respondieron durante las etapas iniciales del COVID-19, es importante continuar analizando cómo las IES se siguen adaptando a medida que la crisis COVID-19 avanza.

Originalidad/valor

Este estudio se basa en datos únicos obtenidos de IES privadas, sin fines de lucro, y líderes en América Latina que, al contrario de las universidades públicas u otras IES en economías desarrolladas, exhiben medios y condiciones diferentes para responder a la expansión del coronavirus. Finalmente, este trabajo contribuye a la literatura sobre internacionalización de IES mediante la discusión del rol de un evento disruptivo de escala mundial en la internacionalización de universidades y, particularmente, escuelas de negocios.

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