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Article

Valeria Scherger, Antonio Terceño and Hernán Vigier

The purpose of this paper is to develop a goodness index based on Hamming distance and ordered weighted averaging distance (OWAD), which is useful to make decisions. These…

Abstract

Purpose

The purpose of this paper is to develop a goodness index based on Hamming distance and ordered weighted averaging distance (OWAD), which is useful to make decisions. These alternative measures enrich the results of diagnostic fuzzy models and facilitate the experts’ task in decision-making. An application to a set of firms to verify the results is also presented.

Design/methodology/approach

The paper follows the basis of OWA operators to design a methodology to reduce the map of causes of business failure into monitoring key areas.

Findings

The present paper introduces two alternative measures to test the proposal of grouping. In the empirical application, the superiority of the minimum T-norm over other decision rules is verified. The ordered weighted averaging distance (OWAD) goodness index predicts a better adjustment over the index built using OWA and Hamming distance measures.

Practical implications

A useful mechanism to reduce the map of causes or diseases detected in key areas is added through this analysis. At the same time, these key areas can be disaggregated once some alert indicator is identified; this allows knowing the causes that require special attention. This application of OWA can encourage the development of suitable computer systems for monitoring the firm’s problems, alerting regarding failures and easing decision-making.

Originality/value

A comparison of grouping causes into key areas through a goodness index based on Hamming distance and OWAD is proposed. These contributions enrich the Vigier and Terceño (2008) model and could be applied to any model of fuzzy diagnosis to test the results.

Details

Kybernetes, vol. 46 no. 1
Type: Research Article
ISSN: 0368-492X

Keywords

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Article

Lisana B. Martinez, Valeria Scherger, M. Belén Guercio and Sofía Orazi

This paper analyses the evolution of the financial inclusion and its main determinants in seven Latin American countries.

Abstract

Purpose

This paper analyses the evolution of the financial inclusion and its main determinants in seven Latin American countries.

Design/methodology/approach

The database used is the Global Findex from the World Bank for the latest data released that includes the years 2011 and 2014. The variables used are formal financial accounts, formal savings and formal credit as proxies of financial inclusion for the years of study. Moreover, the use of debit and credit cards is considered. The methodologies applied are the mean difference tests, in order to contrast the hypotheses of the inclusion evolution and binary probit regressions models.

Findings

The results of the analysis show that there is a positive evolution in the use of financial instruments in the countries of the sample, especially in the use of formal accounts. On the other hand, considering the characteristics of the individuals, age, level of education and income positively affect their financial inclusion.

Originality/value

There are no similar works for the region of study that allow us to evaluate the evolution of financial inclusion considering the variables selected in the literature. It is possible to clearly fulfil the proposed objective, highlighting the importance of implementing financial inclusion policies in view of the low percentage of use of the instruments in the analyzed countries.

Propósito

Este trabajo analiza la evolución de la inclusión financiera y los principales determinantes que la afectan en siete países de América Latina.

Diseño/metodología/Enfoque

Se utiliza la base de datos Global Findex del Banco Mundial, considerando los últimos datos relevados para los años 2011 yrs 2014. Se usa las variables cuentas financieras formales, ahorro formal y crédito formal como proxies de la inclusión financiera en los años de estudio, como así también la tenencia de tarjetas de débito y crédito. Se aplican test de diferencias de medias a fin de contrastar las hipótesis propuestas de evolución de la inclusión y se estiman modelos de regresión binaria probit.

Resultados

Los resultados del análisis muestran que existe una evolución positiva en el grado de inclusión financiera. Se identifica un mayor uso de los instrumentos financieros en los países de la muestra, siendo la tenencia de cuentas en instituciones financieras formales la variable más significativa. Por otro lado, considerando las características de los individuos, se encuentra que la edad de las personas, el nivel de educación y de ingresos afectan positivamente a la inclusión financiera de los individuos.

Originalidad/valor

No existen trabajos similares para la región de estudio analizada que nos permitan evaluar la evolución de la inclusión financiera considerando las variables proxies seleccionadas de la literatura. Se logra cumplir el objetivo planteado, destacando la importancia de implementar políticas de inclusión financiera ante el bajo porcentaje de uso de los instrumentos en los países de la muestra.

Details

Academia Revista Latinoamericana de Administración, vol. 33 no. 2
Type: Research Article
ISSN: 1012-8255

Keywords

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Article

Lisana B. Martinez, Valeria Scherger and M. Belén Guercio

The purpose of this paper is to organize and present the literature related to firm’s capital structure across the years and find the most relevant publications and…

Abstract

Purpose

The purpose of this paper is to organize and present the literature related to firm’s capital structure across the years and find the most relevant publications and authors in the research area. Moreover, the authors pretend to fill the gap in the literature by studying different works and their compatibility with the main theories.

Design/methodology/approach

The systematic literature review is conducted by using the Scopus database. The methodology applied is through a concise searching considering keywords, the most cited papers, the latest publications and theories that explain small and medium enterprises (SMEs) capital structure.

Findings

Some key aspects about the capital structure of firms and SMEs are identified, such as documents per year, type of publications, the most used languages, the top journals, the most cited papers, the most productive and influential authors and the latest published papers.

Research limitations/implications

The information presented is only informative from the Scopus database. Hence, this work only gives a general orientation of the most relevant research and its tendency of this database. More exhaustive works could be done using different keywords and analyzing other firms’ characteristics.

Practical implications

This kind of study is effective in evaluating the scientific production and to find the most important contributions of the subject. Furthermore, this information is useful for researchers’ studies on SME capital structure to underline the research direction and to be acquainted with the literature tendency.

Originality/value

There are not similar works that delve into the literature respect to SME capital structure and compare the main theories in relation to empirical works. Therefore, a synthesized evolution of previous works related to the capital structure of firms and SMEs is presented.

Details

Journal of Small Business and Enterprise Development, vol. 26 no. 1
Type: Research Article
ISSN: 1462-6004

Keywords

Abstract

Details

Kybernetes, vol. 46 no. 1
Type: Research Article
ISSN: 0368-492X

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