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Your search keyword '"Álvarez‐García, José"' showing total 55 results
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55 results on '"Álvarez‐García, José"'

1. Non-Commodity Agricultural Price Hedging with Minimum Tracking Error Portfolios: The Case of Mexican Hass Avocado

Author

Oscar V. De la Torre-Torres, María de la Cruz del Río-Rama, and Álvarez-García José

Subjects
Hass avocado, non-commodity price hedging, agricultural futures, minimum tracking error, active portfolio management, basis risk, Agriculture (General), S1-972
Abstract

The present paper tests the use of an agricultural futures minimum tracking error portfolio to replicate the price of the Mexican Hass avocado (a non-commodity). The motivation is that this portfolio could be used to balance the basis risk that the avocado price hedge issuer could face. By performing a backtest of a theoretical avocado producer from January 2000 to September 2023, the results show that the avocado producer could hedge the avocado price by 94%, with the hedge offered by a theoretical financial or government institution. Also, this issuer could balance the risk of such a hedge by buying a coffee–sugar futures portfolio. The cointegrated or long-term relationship shows that using such a futures portfolio is useful for Mexican Hass avocado price hedging. This paper stands as one of the first in testing futures portfolios to offer a synthetic hedge of non-commodities through a commodities’ futures portfolio.

Published
2024
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36. An Empowerment Scale Analysis of Mexican MSMEs: Modeling with Covariance Structures

Author

Del Río-Rama, María de la Cruz, Ríos, Martha, Álvarez-García, José, Sánchez-Fernández, María Dolores, Del Río-Rama, María de la Cruz, Ríos, Martha, Álvarez-García, José, and Sánchez-Fernández, María Dolores

Abstract

[Abstract] Trained human capital is a source of incalculable resources, with an impact on the results of companies. For this reason, companies must carefully consider three aspects: empowerment with the consideration of the cognitive state of their collaborators; training and compensation; and fluidity in information sharing. Although granting empowerment to collaborators has been shown to be beneficial for organizations, its adoption has not been popularized. Therefore, it remains a construct that needs to be studied and understood, considering that it is influenced by the organizational culture of companies. In this research, the main objective was to examine the factor structure of the empowerment scale from the perspective of the owner or manager of the micro, small and medium-sized companies of Guanajuato, Mexico; using the dimensions of psychological empowerment; fluidity in information sharing; as well as training and compensation. The methodology is based on the Mathematical Economy; application of mathematical methods to represent theories and analyze problems in economics. This investigation used an exploratory and confirmatory factor analysis (CFA) to validate the proposed measurement scale. The sample is made up of 222 valid questionnaires. The CFA provided evidence that the model that best fits the data is a second-order model made up of two dimensions: self-efficacy and influence on the company’s results, which carry the psychological empowerment construct. These results make clear that although information is necessary to train human capital, cognitive variables are more important in the empowerment of human capital

Published
2020

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