Economía y Negocios

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A Bayesian quantile binary regression approach to estimate payments for environmental services
(2017) Vásquez Lavín, Felipe; Flores, Ricardo; Ibarnegaray, Verónica
Stated preference approaches, such as contingent valuation, focus mainly on the estimation of the mean or median willingness to pay (WTP) for an environmental good. Nevertheless, these two welfare measures may not be appropriate when there are social and political concerns associated with implementing a payment for environmental services (PES) scheme. In this paper the authors used a Bayesian estimation approach to estimate a quantile binary regression and the WTP distribution in the context of a contingent valuation PES application. Our results show that the use of other quantiles framed in the supermajority concept provides a reasonable interpretation of the technical nonmarket valuation studies in the PES area. We found that the values of the mean WTP are 10-37 times higher than the value that would support a supermajority of 70 per cent of the population.
A Business Case for Marine Protected Areas: Economic Valuation of the Reef Attributes of Cozumel Island
(2021) Lara-Pulido, José Alberto; Mojica, Ángela; Bruner, Aaron; Guevara-Sanginés, Alejandro; Simon, Cecilia; Vásquez Lavín, Felipe; González-Baca, Cristopher; Infanzón, María José
Tourism to Cozumel Island generates USD 762 million annually in local economic activity, and 111 visitors stay in local hotels for each inhabitant. The island’s coast is its principal attraction, yet water quality and reef health are threatened. This paper studies the link between the local economy and management of Arrecifes de Cozumel National Park, using a choice experiment to assess the economic value visitors assign to underwater visibility, biodiversity, and visitor congestion in reef areas. We found that, on average, tourists are willing to pay USD 190 per visit to avoid a projected decrease in biodiversity, USD 120 per visit to prevent a projected decline in visibility, and USD 98 to avoid high congestion during reef visits. We find high heterogeneity in willingness to pay estimates, which may be useful for targeting both conservation and marketing efforts. On the other hand, increasing the reef access fee from USD 2 to USD 6 could fully fund effective protected area management, with no substantial effect on visitors’ consumer surplus. Results suggest that a conservation surcharge could be added to all tours, with little impact on visitation, and that significantly increasing private sector collaboration and government spending on conservation would be good economic choices.
A comparative analysis of the internationalization of sub-national and central state-owned enterprises: shreds of evidence from Latin America
(2021) Finchelstein, Diego; González-Pérez, María Alejandra; Salvaj, Erica
Purpose In this exploratory multiple case study, we aim to compare the internationalization of two state-owned enterprises (SOEs) owned by subnational governments with three owned by central governments in Latin America. This study provides a contextualized answer to the question: What are the differences in the internationalization of subnationally owned SOEs compared to central SOEs? This study finds that the speed and diversification of these two types of SOEs’ internationalization differ because they have a different expansion logic. Subnationally owned SOEs have a gradual and diversified expansion following market rules. Central government’s SOEs are specialized and take more drastic steps in their internationalization, which relates to non-market factors. Design/methodology/approach This study builds an exploratory qualitative comparative case analysis that uses multiple sources of data and information to develop a comprehensive understanding of SOEs through process tracing. Findings The study posits some assumptions that are confirmed in the case analysis. This study finds relevant differences between sub-national (SSOEs) and central authority (CSOEs’) strategies. SSOEs’ fewer resources and needs to increase income push them to follow a gradual market-driven internationalization and to diversify abroad. CSOEs non-gradual growth is justified by non-market factors (i.e. national politics). CSOEs do not diversify abroad due to the broader set of constituencies they have to face. Research limitations/implications Given the exploratory comparative case study of this research, the findings are bounded by the particularities of the cases and their region (Latin America). This paper and its findings can be useful for theory building but it does not claim any generalization capacity. Originality/value This study adds complexity into the SOEs phenomenon by distinguishing between different types of SOEs. This paper contributes to the study of subnational phenomena and its effect in SOEs’ internationalization process, which is an understudied topic. To the authors’ best knowledge, this is among the first studies that explore subnational SOEs in Latin America.
A comparison of mixed logit and latent class models to estimate market segments for seafood faced with ocean acidification
(2022) Campos-Requena, Nelyda; Fernández, Francisco; Vásquez-Lavín, Felipe; Barrientos, Manuel; Gelcich, Stefan; Ponce Oliva, Roberto
This study uses a choice experiment to characterize market segments (consumer preferences heterogeneity) based on three attributes of seafood (mussels) that are affected by ocean acidification: shell appearance, meat color, and nutritional composition. Using a sample of 1,257 individuals from two main cities in Chile, we estimate both the Mixed Logit model and the Latent Class model. We use the individual-specific posterior (ISP) parameters ’distribution to categorize consumers’ heterogeneity based on the signs and intensity (i.e., like or dislike dimension) of these ISPs. We compare the pattern of preferences and whether people are classified within the same preference pattern in both models. In general, we observed that the models identify a different number of segments with various patterns of preferences. Moreover, the models classify the same people into different groups. Since the segmentation is sensitive to the chosen model, we discuss strengths, inconsistencies, biases, and best practices regarding methodological approaches to establishing market segments in choice experiments and future ocean acidification conditions
A Compass for Navigating Sharing Economy Business Models
(2018) Muñoz, Pablo; Cohen, Boyd
The sharing economy has emerged in recent years as a disruptive approach to traditional business models. While relevant and conceptually appealing, there is a lack of clarity about what distinguishes the sharing economy from other platform enterprises. In this paper, we seek to solve this problem. Drawing on a multi-year research program and a design-based methodology, in this paper we introduce a novel actionable framework and generative tool called the Sharing Business Model Compass. As an actionable framework, the Compass helps elucidate the multiple, innovative forms sharing economy businesses are adopting. As a generative tool it enables entrepreneurs, investors, incubators and incumbents interested in entering the sharing economy to create, present and evolve a compelling sharing business model as well as evaluate its extent of robustness, whilst embracing the complexity of this business space. We provide evidence on the current performance of the model and discuss implications for policy-makers, markets and competition, incumbents, and the very same ventures fueling the sharing economy. We conclude by discussing future design opportunities and challenges for the sharing space as whole
A configuration approach to reduce the risk of COVID-19 employees infection in the manufacturing firms: the role of machine automatization
(2022) Heredia Pérez, Jorge; Geldes, Cristian; Flores, Alejandro; Heredia, Walter; Carbajal Gamarra, Felix M.; Miranda Obando, Luisa
Does automation adoption mitigate the COVID-19 infection rate of employees? What resources and internal and external factors need to be configured with automation to mitigate COVID-19 contagion from employees successfully? According to the type of automation. What resources efficiently complement to mitigate the contagion rate from employers? From a fuzzyset qualitative comparative analysis (fsQCA) approach, we analyzed 759 manufacturing firms in Finland, drawn from the World Bank 2020 Enterprise Survey; this study addresses the multiple configurations that drive pandemic risk mitigation and management. We find that configurations under automation reduce the risk of employee infection. Our results show the critical role of automation in employee safety. We argue that access to government support and the development of technological innovation are necessary conditions for implementing measures to prevent and mitigate the risk of contagion in the employee. In addition, the first configuration states that manufacturing firms employing soft automation can successfully mitigate employee exposure. The second configuration states that high human resource flexibility successfully complements firms with complex automation to achieve high mitigation. Finally, the third configuration shows those manufacturing firms that employ low-tech automation (manual processes); in this manner, digitization enables successfully mitigating pandemic contagion. Moreover, it suggests recommendations for policymakers and managers.
A diagnostic framework for social impact bonds in emerging economies
(2019) Muñoz, Pablo; Kimmitt, Jonathan; Mu
A social impact bond (SIB) is a new type of outcome-based social investment mechanism for enterprises operating in the social economy. They have grown across the developed world, yet its complexity may prevent from fulfilling their promises. This is particularly the case when SIB-pertinent regulatory frameworks, actors and social problems are ill-defined as in the case of emerging economy contexts. In this paper we ask, how can policy agents better identify, prioritize and weight social issues in the early design of a social impact bond? We tackle this issue by applying design methods in the co-development of a SIB diagnostic framework for emerging economies. This is both a conceptual and an actionable artefact. As a conceptual artefact, it provides a holistic picture of the contextual circumstances influencing the emergence of a SIB. As a policy tool, it allows policy agents to assess and prioritize social issues and target groups and subsequently guiding policy decisions regarding investment allocation on social economy enterprises
A Free‐Market Environmentalist Enquiry on Spain’s Energy Transition along with Its Recent Increasing Electricity Prices
(2022) Wang, William Hongsong; Espinosa Loyola, Victor; Huerta de Soto, Jesús
This paper analyzes the Spanish energy transition’s general situation and its increasing electricity prices in recent years from a free‐market environmentalist (FME) approach. We hypoth‐esize and argue that high taxes, high government subsidies, and government industrial access re‐strictions breach private property rights, hindering Spain’s renewable energy (RE) development. Our paper discovers that Spain’s state‐interventionist policies have increased the cost of the energy and power industries, leading to electricity prices remaining relatively high before and after the outbreak of the COVID‐19 pandemic. After reviewing the literature on the FME approach and Spain’s case, a Box–Jenkins (ARIMA) model is used to clarify the economic performance of the Spanish electricity industry with a proposal for forecasting electricity prices. It is observed that Spain fails the EU and its national goal of providing an affordable energy price as a part of the green energy transition. Finally, free‐market environmental solutions and policy reforms are proposed to facilitate Spain’s energy transition.
A methodology for the analysis of soccer matches based on pagerank centrality
(2017) Rojas-Mora, Julio; Chávez-Bustamante, Felipe; del Río-Andrade, Julio; Medina-Valdebenito, Nicolás
Data analysis in sports has adopted many different approaches given its usefulness in quantitative and objective management. Several advances have been made considering the researches and technologies that have been developed up until now. It is possible to find many complex methodologies of sport performance analysis in order to have as much as information as possible to achieve success. Therefore, a wide variety of options are available for sport managers, coaches or anyone interested, including advances on information systems, data mining, machine learning and motion analysis. However, the cost of these powerful methodologies induces the search of cheaper techniques based on basic but proper notation methodology. The aim of this chapter is to provide an observational methodology for soccer match analysis. When paired with PageRank as the main indicator of performance, it allows for a deep analysis of the data and better decision-making and performance analysis in soccer. To show some insights about the proposed model, real data from past matches are presented and discussed. Results show graph visualization that sum up the whole match in terms of the flows of a network modelled with passes and recoveries from the players as weights of its edges. One implication of our research is to be a first approach in generalizing the PageRank algorithm to soccer team’s management, which could be extrapolated to other disciplines. It also points to the feasibility of making a quantitative analysis for sport managers with a reasonable cost-benefit ratio. This analysis opens the paths to further analysis that could include spatiotemporal variables.
A simple index of innovation with complexity
(2017) Fernandez Donoso, José
Patents are the main source of data on innovation. Since most of the innovative activity happens outside of the patenting system, and since patents −and innovations- have different quality, complexity, and impact on each market, unweighted sums of patents and proxies are an imperfect indicator of a country’s innovative activity. I generate two very simple indices of innovation (one dependent on the size of a country, and another that normalizes country-size), based on weighting patents and exports by a complexity measure. Each index captures the technological complexity of innovations inside and outside the intellectual property rights system. I empirically analyze the rankings of these innovation indices, and contrast the results with technological development, GDP, and the existing mainstream innovation index
A Sustainable Management Model for Cultural Creative Tourism Ecosystems
(2020) García Henche, Blanca; Salvaj, Erica; Cuesta-Valiño, Pedro; Salvaj, Erica
This article proposes a novel management model for cultural, creative, and historic tourism cities. The creation of the model is based on previous literature and in the study of Barrio de las Letras, in Madrid, to identify the key components to successfully develop creative tourism ecosystems. The model integrates the literature on city center management and, unlike previous studies, incorporates missing elements, such as the role of small businesses associations and collaboration networks among diverse stakeholders to develop a cultural–historic tourism ecosystem. This model represents a proposal that supports the coexistence of the private and public sector and sustainable governance models that integrate the inhabitants of city centers with the economic activity generated by urban tourism. The model was developed by an analysis of secondary sources, interviews with key informants, and questionnaires of entrepreneurs located in a recently invigorated cultural and historic neighborhood. The contribution of knowledge offered by this paper is the proposition of a management model that can aid town centers to create competitive cultural/creative/historic tourism ecosystems while still preserving the sustainability of their social/commercial fabric. Therefore, the collaboration of cultural organizations, hospitality industry and retail can promote cultural, creative, and sustainable management model of historic urban centers.
A translational framework for entrepreneurship research
(2022) Muñoz, Pablo; Dimov, Dimo
In this paper, we put forward a new translational research framework for entrepreneurship, which leverages translational research from biomedical sciences and design science to lay the ground for a new research ecosystem of entrepreneurship. Instead of describing, explaining and predicting, our framework places emphasis on framing, experimenting and interacting. It comprises three modes of translational research, which allow for moving discoveries made in basic entrepreneurship research to entrepreneurial practice (T1), entrepreneurial communities (T2) and entrepreneurship policy (T3). These are alternative modes of research, marking different scientific domains, that can ensure the outcomes of our basic science are understood, adapted to and adopted by stakeholders in the best way possible. This new ecosystem can expand our scope of action as entrepreneurship researchers, open new pathways to materialize the elusive “scholarly impact” and advance the conversation and practice of engaged scholarship.
Action ! Moving beyond the intendedly-rational logics of entrepreneurship
(2018) Lerner, Daniel A.; Hunt, Richard A.; Dimov, Dimo
Entrepreneurial action is central to entrepreneurship theory, and is broadly seen to arise as a consequence of intendedly rational logics (whether causal or effectual), reflecting reasoned judgment. But, is this always the case? While entrepreneurial action may often be the result of a judgmental decision (between alternative courses of action/inaction), the presumption that reasoned judgment encompasses all the motives, modes and mechanisms leading to entrepreneurial outcomes seems dubious. Building on an emerging literature that seeks to address the boundaries of reasoned entrepreneurial action, we develop the notion that non-deliberative impulse-driven behavioral logics can also be the basis for business venturing. Our framework offers a complementary perspective to the intendedly-rational, deliberate logics perspective, opening novel pathways for future research and theory-building.
Advancing People Skills for 21st Century Business Education in Chile
(Palgrave Macmillan, 2013) Lepeley, María Teresa; Albornoz, Carlos A.
In the 20th century business schools in Chile played an important role in the deep transition from a centralized economy to a free market system that propelled the country to become the 13th most competitive economy in the world. But the competiveness of the Chilean economy has decreased more recently, and this is a national concern for a broadly open economy. In the 21st century, Chilean business schools, although ranked among the best in Latin America, confront new challenges. Evidence shows a mismatch between the supply of business schools, in terms of the hard business skills graduates acquire and the demand for people or soft skills that labor markets seek in graduates. We propose a curricular change to advance from the traditional objective based business curriculum to a student competence centered curriculum that balances hard skills with the people skills graduates need to fuel innovation and entrepreneurship thus increasing employability and success in business careers.
Advancing sustainable entrepreneurship through substantive research
(2018) Muñoz, Pablo; Janssen, Frank; Nicolopoulou, Katerina; Hockerts, Kai
The purpose of this paper is to present an overview of the articles presented in the special issue “Advancing Sustainable Entrepreneurship Through Substantive Research”. The special issue is inspired by the need to understand determinants, processes and consequences of sustainable entrepreneurial action. It seeks to contribute to this emergent field by presenting a range of novel empirical studies and proposing avenues for future research
Advancing toward water security: addressing governance failures through a metagovernance of modes approach
(2022) Julio, Natalia; Figueroa, Ricardo; Ponce Oliva, Roberto
Water security (WS) is a desirable goal of ensuring a sufcient quantity and quality of water for life-supporting processesand the development of society. However, achieving WS is a complex challenge that must be addressed in an integrated andinterdisciplinary way. Integrated River Basin Management (IRBM) could be a means to achieve WS if it is supported by thedevelopment of an appropriate adaptive governance process that emphasizes more collaborative and coordinated actions andrecognizes river basins as complex social-ecological systems. In this paper, we analyze the relationship between WS and thehybrid conceptualization of hierarchical, market and network governance, namely metagovernance of modes. Here the threegovernance modes are best coordinated by a public metagovernor, who is a key actor in avoiding typical governance failures,helping it become an efective approach to implement adaptive river basin management. The context-specifc attribute ofmetagovernance of modes, and the situationally optimal mixtures that it provides, seem to make it the most suitable alterna-tive to deal with complexity, uncertainty and constant change. We propose that social-ecological components and processesin river basins must be integrated through sound combinations of these three governance modes, which could determine theadoption of a specifc adaptive management instrument, according to the problem to be solved. Further research is neededto understand how metagovernors could achieve better coordination and how to best address context-specifc interventionstrategies
Air Pollution and Hospitalization for Acute Complications of Diabetes in Chile
(2012) Dales, Robert E.; Cakmak, Sabit; Blanco Vidal, Claudia; Rubio, María Angélica
Exposure to air pollution has been shown to cause insulin resistance in mice. To determine the relevance to humans, we tested the association between daily air pollution concentrations and daily hospitalization for acute serious complications of diabetes, coma and ketoacidosis, in Santiago between 2001 and 2008, using generalized linear models with natural splines to control for long term trends. For an interquartile range (IQR) increase in air pollutant, the relative risks (95% CI) of hospitalization for diabetes were: 1.15 (1.10, 1.20) for carbon monoxide (IQR = 1.00); 1.07 (0.98, 1.16) for ozone (IQR = 63.50); 1.14 (1.06, 1.22) for sulfur dioxide (IQR = 5.88); 1.12(1.05, 1.20) for nitrogen dioxide (IQR = 27.94); 1.11 (1.07, 1.15) for particulate matter <= 10 mu m diameter(IQR = 34.00); and 1.11 (1.06, 1.16) for fine particulate matter <= 2.5 mu m diameter (IQR = 18.50). Results were similar when stratified by age, sex and season. Air pollution appears to increase the risk of acute complications of diabetes requiring hospitalization, suggesting that improvements in air quality may reduce morbidity from diabetes. Crown Copyright (C) 2012 Published by Elsevier Ltd. All rights reserved.
Aligning global efforts for a carbon neutral world: the race to zero campaign
(2022) Sevil, Angel; Muñoz, Gonzalo; Godoy-Faúndez, Alex
According to the United Nations, in order to avoid some of the worst outcomes of climate change, the world must achieve net zero carbon emissions by 2050 at the very latest. That is the aim of the Race to Zero Campaign. Since 2019, more than 10,000 organizations around the world have embraced Race to Zero, which has been able to successfully create a relevant, global, and diverse cross-sector partnership, tearing down the barriers that have emerged from uncertainty. Building on three key cross-partnership elements (strategic, institutional, and learning), combined with the uncertainties faced by the partners, we describe the resources and activities that have made that possible.
Aligning regional and business strategies: looking inside the Basque Country entrepreneurial innovation ecosystem
(2020) Guerrero, Maribel; Martínez-Chávez, M.
The current socio-economic scenarios have generated several challenges for any organisation. Regional authorities have designed policies that combine supply-demand needs and innovative entrepreneurship programs. The alignment between regional and business strategies has become critical to ensure the necessary resources, skills and capabilities in the region. This paper analyses the alignment of regional strategies (entrepreneurial innovation ecosystems) and business strategies (development of new entrepreneurial innovations). By adopting mixed theoretical approaches, we proposed a conceptual model to understand the role of institutional strategies on the definition of business strategies. Given the nature of this study, our methodological design combines a case study approach and an action research approach. Our results provide insights into the positive outcomes generated when regional strategies and business strategies are aligned.
Ambitious Entrepreneurship and Its Relationship with R&D Policy in Latin American Countries
(2021) Amorós, José Ernesto; Poblete Cazenave, Carlos; Mandakovic, Vesna
In this chapter, we explore how different R&D policies and related mechanisms are associated with high ambitions innovative entrepreneurship activities in the particular context of Latin America and the Caribbean. We use a longitudinal approach, with a multilevel mixed-effects logistic regression procedure. The data comes mainly from the Global Entrepreneurship Monitor (GEM) project, and the Global Competitiveness Index. The sample covers 14 countries from Latin America and the Caribbean between 2006–2017. The results provide empirical insights about the firm and individual characteristics that explain the likelihood of being an innovative and ambitious entrepreneur. We also find that narrowed policies in addition to an innovation-driven environment, also increase the creation of ambitious entrepreneurs. In this chapter, we discuss some implications for policymakers that want to enhance local entrepreneurial framework conditions.

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