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The authors derive a risk lower bound in estimating the threshold parameter without knowing whether the threshold regression model is continuous or not. The bound goes to zero as the sample size n grows only at the cube-root rate. Motivated by this finding, the authors develop a continuity test for the threshold regression model and a bootstrap to compute its p-values. The validity of the bootstrap is established, and its finite-sample property is explored through Monte Carlo simulations.

This paper examines a nonparametric CUSUM-type test for common trends in large panel data sets with individual fixed effects. We consider, as in Zhang, Su, and Phillips (2012), a partial linear regression model with unknown functional form for the trend component, although our test does not involve local smoothings. This conveniently forgoes the need to choose a bandwidth parameter, which due to a lack of a clear and sensible information criteria is difficult for testing purposes. We are able to do so after making use that the number of individuals increases with no limit. After removing the parametric component of the model, when the errors are homoscedastic, our test statistic converges to a Gaussian process whose critical values are easily tabulated. We also examine the consequences of having heteroscedasticity as well as discussing the problem of how to compute valid critical values due to the very complicated covariance structure of the limiting process. Finally, we present a small Monte Carlo experiment to shed some light on the finite sample performance of the test.

The objective of this study focuses on the characterization of the Latin American entrepreneurial profile from a psychological perspective. In order to do this, a journey through time was carried out in the study of the entrepreneurial subject, from the great classics to the contemporary era, the era of knowledge, innovation, technology, and revolution. In the Latin American context, the role of the entrepreneur is limited due to vulnerable institutions, corruption, populism, and socioeconomic inequity. However, the new information and communication technologies constitute an ideal route for growth in the region. The fundamental element is the psychological profile of the entrepreneur, which is made up of a set of personal characteristics, among which innovation, achievement motivation, self-efficacy, moderate propensity for risk, creativity, perseverance, proactivity, flexibility, locus of control stand out, internal, adaptability, responsibility, ability to recognize opportunities, autonomy, commitment, handling problems and managerial skills. Finally, case studies from countries such as Mexico, Peru, and Chile are presented. It is a documentary study which reflects that Latin American entrepreneurs share the same psychological attributes as those who live in developed countries. However, obstacles arising from the lack of environment and public policies are imposed on entrepreneurial activity. The culture of a country and the formative role of education can become limiting or enhancing factors; therefore, it is necessary to bet on beliefs and convictions attached to innovation, which strengthen the psychological attributes of the entrepreneurial spirit.

Entrepreneurship and family businesses are fundamental factors in economic activity since, through the generation of new ideas, it is possible to generate new businesses that trigger employment, innovation, and economic growth. Recently, an emphasis on seeing both research streams from a kaleidoscope perspective has given new insights into the development and evolution of this area. Thus, exploring the differentiation between true and false entrepreneurs seems vital for today's efficient allocation of resources. A theoretical model is proposed, including micro, meso, and macro analytical spheres, adding the behavioral aspects that determine whether a person is a true or false entrepreneur and the effects that can have on the business. To observe the viability of the approach, the case of an enterprise, called “family business S,” is examined. Specifically, the results show the feasibility of applying the analytical proposal to observe the positive and negative behaviors of the family business. In the case of S, these are false entrepreneurs, given that free time and unemployment were the main reasons for starting the company, but they lacked the will and long-term vision. Also, a novel view on how to diagnose a real entrepreneur for taking over a family business is proposed, where a clinical history approach might help in the succession process.

Through the metaphor of navigation, we offer the reader a journey that goes from the literature review about the main theories of creativity throughout the last century to the present, to later address it for Latin America, outlining some reflections on its current context, as well as what the future holds. The literature review shows that, unlike the Western Hemisphere, creativity as a line of research in our region has been somewhat neglected, without being given its rightful place, generally very little addressed. Therefore, it is proposed to get back on track, rescuing what has been done and through an exercise of reflection, proposing new lines of research linked to creativity itself, to innovation, and also toward entrepreneurship.