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This paper explores the different dimensions of women's empowerment that can arise during the entrepreneurial process. It considers the changes in these dimensions as women advance in the development of their new ventures, differentiating characteristics according to the context (urban or rural). Another contribution refers to which empowerment factors developed by female entrepreneurs are key to reducing poverty. The proposal develops a multiple correspondence analysis and an ordered probit model, with data from the Global Entrepreneurship Monitor (GEM) Colombia. The results make it possible to identify what is needed to strengthen the empowerment of women through entrepreneurship, and the resources available for this. Furthermore, the relationship found between economic empowerment factors and family income provides evidence for the importance of empowerment for poverty reduction. [ABSTRACT FROM AUTHOR]

It is common to analyze deficiencies in employment quality by using the variables informal employment and underemployment. The former term is understood to capture the problem from the company perspective (demand) whereas the latter captures it from the worker perspective (supply). This paper examines how related those variables are to employment quality in the Colombian urban labor market. To do so, the determinants informal employment and underemployment are analyzed together using an econometric model that incorporates the correlation of the terms of error (bivariate probit model). A high correlation was found between the two variables and they, in turn, are related to low income levels, low educational levels, deficient work conditions, and low technological development sectors. This is the first paper on the Colombian labor market that analytically examines informal employment and underemployment together. [ABSTRACT FROM AUTHOR]

This paper analyzes the determinants of incumbent failure using the game theory. In the suggested schema, an entrant firm decides to confront a monopolist firm by offering second-generation technology. The firm with the monopoly offers first-generation technology so it must decide whether to enter second-generation technology into the market or not. The paper concludes that the share of the existing market and the expected magnitude of the demand that will remain with the older technology are barriers against an established firm deciding to invest in an innovation. The probability that an established firm would invest in such innovation is inverse to the entrant firm's probability of success, to the amount of the investment, and to the magnitude of the profits that the established firm would make with its current product if the entrant company is successful. The article illustrates the theoretical exposition by using the results of introducing mobile cellular telephony in the telecommunications industry in Colombia [ABSTRACT FROM AUTHOR]

Given the new trends in the higher education system in Colombia, this paper raises the question of how the introduction of credit systems may transform the management system of a university. To answer that question, the paper introduces the case of Universidad del Rosario, one of the most traditional universities in Colombia, transformed its institutional setting to implement this system years before the legal credit system requirement to do so even existed. Reviewing the unsystematic literature on this topic and introducing the concept of credit systems, the paper provides a model which systemizes managerial change due to credit systems into four categories: (i) governance and structure, (ii) culture/values and institutional identity, (iii) managerial practices and techniques, and (iv) the relationship with the environment (internal and external). The paper also presents concerns about cultural and institutional particularities which may affect and distort the expected impact of introducing a credit system, and it finally observes how important it would be to consider process dynamics when dealing with this topic. [ABSTRACT FROM AUTHOR]

To obtain strategic information about the different actors in the bio-industrial cluster in western Colombia, related to decision making and interventions that lead to the competitive development of the cluster and the region, a model based on technological innovation in similar schemes was designed to measure the critical fields and factors of competition. The paper presents: (i) the fields and factors that have an impact on development and competition in the cluster, and (ii) an analysis of evaluation and measuring schemes that have been developed for similar cases at an international, national and regional level. The paper presents a proposal for evaluating and tracking the fields and factors, based on constructing an theoretic framework, identifying tracking and evaluation systems, structuring the monitoring system, and defining and adapting the measuring model. The importance of some factors on development and competition is evidenced, as is the need to measure them and generate strategic information that will support decision making and public policy design. [ABSTRACT FROM AUTHOR]

This paper presents the results of an investigation into the application of the Capital Asset Pricing Model (CAPM) in the Colombian capital market. To construct optimal portfolios, CAPM optimization techniques were used that were based on the monthly performance of shares on the Colombian Stock Exchange between 1993 and 2003. The optimum portfolios were then valued, and their profitability was compared with the Colombian market average. Comparing this profitability with the market portfolio for different samples and periods gave uncertain results. It was also found that the optimum portfolio model is little used in Colombia. The paper concludes that improving the application of the optimum portfolio model depends on a higher level of profundización and efficiency in the Colombian capital market. Similarly, the proper use of optimizers by portfolio administrators, added to their experience and intuition, will improve their performance in the capital market. [ABSTRACT FROM AUTHOR]

The paper identifies advances in science, technology and innovation (STI) in Colombia between 1990 and 2005, and then explores: (i) the successes and failures of policies designed to stimulate advances, and (ii) the challenges facing the country when converting knowledge and, especially, innovation into primary sources of development and competition. The paper reviews neoclassical and evolutional contributions in terms of their relationship with technological change, growth and development, and looks at the literature on recent experiences of successful industrialization and national innovation systems. It then moves on to the implications for STI policy, using official information, domestic and international publications and a number of the authors' investigations to evaluate some of the efforts and results indicators related to innovation, production capacity, and scientific divulgation and articulation between actors in the scientific, technological and productive fields. The results show notable advances in science, but precarious results for technology and the links between actors in these fields. The paper then examines the political challenges. [ABSTRACT FROM AUTHOR]

This paper analyses the tax income consequences for the government of creating a tax reduction system based on investments. This type of policy is usually applied with a view to improving the general conditions of the economy, or as a model of investment for the future, but the net effect on tax collection for the government depends on the performance of businesses benefiting from the deductions. This investigation used economic, mathematical, statistical and dynamic tools to describe the optimization problems for businesses and the government (related to fiscal problems) within a neo-classical framework. The practical application is related to Colombia, and uses a calibration of the author's proposed variables. The paper concludes that it is convenient to apply this instrument, given the need to accelerate economic growth and solve a difficult fiscal situation at the same time. Furthermore, it establishes that tax benefits are unlikely to generate excessive levels of investment that would reduce tax collection at current values. However, measures may need to be introduced to control how benefits are granted and avoid opportunistic behavior. [ABSTRACT FROM AUTHOR]

Some of the dynamic capabilities on the basis of which a Colombian company could be eligible to become a Born Global company are taken into consideration in this paper, among which mention could be made of the bearing strategic alliances are having, how the market is being positioned, and organizational learning. On the basis of data collected through a survey being conducted of 297 manufacturing companies in the country in 2011, these dynamic capabilities have been sorted out by means of an artiicial neural networks model. According to indings, those companies which are undergoing a swift internationalization process are mainly told apart because they are supported on learning, socialization and an in-depth awareness of the market they are working with, allowing them to design competitive advantages. These indings are stretching out the Born Global company research to the business strategy field. [ABSTRACT FROM AUTHOR]

This paper analyses how the institutional processes, the school management as well as the contexts in which the school and the students are circumscribed, could impact the performance in the high-school graduation-year test (ICFES). A survey was applied with the purpose of know the actions and interactions among educative process actors. Factor Analysis and Hierarchical econometric models were used with the purpose of construct indexes and measure the impact of the considered variables. We found that school level variables, including management, explain a high percentage of the performance variability, while those constructed variables associated to student's characteristics have a low impact. And parent human capital and the initial student conditions are much more important than the teacher human capital. Contrary to the expected, it's not clear what kind of use and if to increase infrastructure resources favors the achievement. [ABSTRACT FROM AUTHOR]

This article examines different theoretical and empirical research papers on service quality and on measuring it locally and worldwide in the health sector, which have been reported in specialized publications since the early 1990s. Findings make the lack of consensus in defining and determining the dimensions that make up quality in health services evident and such dimensions are necessary for developing reliable measurement instruments that enable offering users better quality. To that regard, in Colombia diverse methodologies for measuring and evaluating the quality of health services have been tried out. SERVQUAL is the most used instrument for such purpose worldwide; notwithstanding, after applying it in Colombia, the results obtained did not allow any generalizations. That situation reveals the need to conduct research using other theoretical models, such as SERVPERF or the multidimensional hierarchical approach, which enable the development of valid, appropriate measurement scales for the local context. [ABSTRACT FROM AUTHOR]

The main objective of this paper is to develop conceptual models of cultural traits, Colombian characteristics, work behavior and processes, to determine the factors that resulted from a qualitative study on supporting attitudes and impeding attitudes regarding creativity in the workplace in certain Colombian companies. Data analysis of the interviewees' statements produced 16 categories, such as ownership, trust building, support, influence management standards, envy / jealousy, and voluntary creativity. Some of these categories were incorporated into the conceptual models. In addition, several of the interviewees explicitly referred to Colombian culture promoting or smothering creativity in the workplace. The authors conclude by saying that it is rare to find structured descriptions that indicate a link between cultural characteristics and forms of thinking, feeling or behaving, which have an effect on issues of administrative importance. These potential explanations suggest that cultural climates influence behavior and, therefore, it is necessary to explore their possible origins. [ABSTRACT FROM AUTHOR]

This paper explains how forms of governance are selected for the Colombian fuel distribution chain and it formulates some proposals aimed at improving efficiency. The conceptual context is based on contract and transaction cost theory. The hypotheses made are demonstrated in two manners: empirically and using a formal model. The empirical work is based on the study of contracts signed between wholesalers and retailers, as well as on a survey given to wholesale company managers. The information obtained was processed using econometric models. The authors found that the more wholesalers design more complete contracts, the less they are interested in vertical integration. That strategy has limitations because more complete contracts increase tracking costs. Vertical integration once again becomes interesting when the wholesaler seeks to differentiate its products. The authors' proposal is for retailers to encourage reliability strengthening measures and more complete contract designing, to limit such opportunism. [ABSTRACT FROM AUTHOR]

This paper seeks to contribute to understanding the role that banks play in financing new businesses, based on a survey made with bank managers in Bogotá, Medellín, Cali, and Barranquilla (Colombia). The main theoretical reference is the strategic risk capital investors model developed by Hellmann (2002) and by Hellmann, Lindsey, and Puri (2003). The authors also explore the validity of the SMB financing model by Berger and Udell (1998) and analyze the bank managers' opinions on the effect of financial resource availability on new businesses that have experienced the entry of foreign banks and the mergers of some credit institutions in recent years. The main findings are (a) that commercial banking seems to have been participating in risk capital investment in young businesses, mainly for the purpose of attracting clients to later offer them short-term loans; (b) that Berger and Udell's financing model appears to adjust well to the reality of young businesses, and (c) that most of the managers surveyed believe that commercial banking should play a more important role in the risk capital market. [ABSTRACT FROM AUTHOR]

Modeling and forecasting exchange rates is a big economic headache. This paper uses an artificial neuronal network model to represent the Colombian real exchange index dynamics because it describes the series dynamics better than a self-regressive linear model does, as may be appreciated in the result of the verosimilitud radius contrast. The model was accepted after applying a series of standard tests and contrasting the results against those obtained using a self-regressive linear model. The results indicated that the current value of a series solely depends on its previous value. [ABSTRACT FROM AUTHOR]

Within the context of the research financed by Universidad Nacional de Colombia, this paper reviews the specialized literature on human resource management in organizations. It determines the main theories that have served as a basis for research in this discipline and profiles the practical trends in human resource management as well as the academic debate at hand. It also highlights findings on how important persons are for building a sustained competitive advantage and how important the human resource management area is for obtaining organizational capabilities. [ABSTRACT FROM AUTHOR]

This paper presents an analysis and action model for broaching the problem of Colombian agroindustry competitiveness in the world market. The model is being built, from a long-term perspective, and its consistency is being empirically validated. The main proposition is that, to meet the conditions and requirements of the new market, Colombian agroindustry competitiveness is directly related to its capability to motivate, design, and start up agribusiness models from a territorial perspective. The analysis schema is structured on Santos' concept (1997) of a space of flows, configured by a productive sector called verticalities and of flows configured by the territory called horizontalities, as forces that articulate through a productive unit (businesses or business networks). Due to the above, territorial capability accumulation and productive specialization -by means of territorial agendas built by strategic actors- are the two driving ideas in this proposition. Yet, the two have a relation of condition and result, cause and effect. Applying the model demonstrates that a mere territorial perspective is not sufficient to achieve the entry of agroindustry into the world market and that territories find it difficult to develop competitiveness capabilities. [ABSTRACT FROM AUTHOR]

Introduction to Administration textbooks usually give simplistic definitions of administration, which do not correspond to the activities and duties that persons who perform management or administrative labors have. In addition, the concept of administration is made up of a series of unrelated loose ideas; for example, the role of managers, hierarchies in organizations or organizational culture. This paper reviews the definitions found in several such textbooks, from different theoretical perspectives and proposes a definition that relates to the various elements that comprise administration. [ABSTRACT FROM AUTHOR]

This paper explores the internationalization of SMEs in Antioquia to determine how the process is being conducted and how competitive the businesses have been during the process. The central question is: Are the SMEs competitive enough to consolidate a position in the international marketplace? The theoretical concepts used in the analysis are presented. The investigation is exploratory-descriptive. Two instruments were applied, using personal interviews with general managers and international business managers. The results show that export culture in Colombia (especially in Antioquia) is not well established. In fact, there is a certain resistance to changing the business mentality regards internationalization, especially amongst SMEs. [ABSTRACT FROM AUTHOR]

The paper compares the past 25 years of evolution in Colombian and Chilean higher education, with a view to establishing tendencies. and development perspectives. University education normative themes were used from both countries because, to a certain degree, they are an indication of the evolution of higher education systems, characterized by the proliferation of institutions, increased coverage, and diversification in the variety or types of higher education institutions. Financing and the level of investigation are also examined. There leads on to an evaluation of the perspectives of change, especially related to the self-evaluation and accreditation processes being implemented by higher education institutions. The conclusions highlight some common points that could be used a starting point by future investigations of this phenomenon in Latin America. [ABSTRACT FROM AUTHOR]