Artículos Economía y Negocios

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The optimism effect on country productivity and innovation activities
(2024) Mahn, Daniel; Wang, Cong; Kent, Danielle; Heaton, Chris
This study focuses on how optimism translates into innovation outcomes. While the link has been estab lished at a microeconomic level, its translation to an aggregate economic effect is still an open question. Empirical analysis draws from a yearly sample of 42 (mainly OECD) countries between 2000 and 2020 to test the effect of economic optimism on R&D measures from both the consumer’s and producer’s points of view at the aggregate level. Using modern econometric techniques that address potential endogeneity issues, the results suggest that economic optimism supports an increase in innovation activity and economic perfor mance but not an increase in innovation outcomes, such as more patent production. The implication is that an economically optimistic environment is an important contribution to a nation’s entrepreneurial ecosys tem. This novel insight shows that firms need not specifically recruit optimistic individuals to reap the bene fits of the optimism effect. Policies that encourage economic optimism can orchestrate an environment in which the benefits of the optimism effect are realized, independent of the individual personality traits of its citizens.
What drives solar energy adoption in developing countries? Evidence from household surveys across countries
(2024) Mahn, Daniel; Best, Rohan; Wang, Cong; Abiona, Olukorede
This study investigates household solar energy uptake in developing countries by combining household surveys for 11 countries with area-level data. We use data from World Bank surveys for countries in Africa, Asia, and Central America. Our probit regressions use up to 36,653 household observations and cover actual uptake rather than intentions. The main result shows that households further from capital cities are less likely to have solar home systems. Furthermore, there are strong links between assets and solar uptake across solar types such as solar home systems, solar lighting systems, and solar lanterns. This is an important finding given the small number of prior studies that use actual uptake data for developing countries and the mixed results from prior literature. We do not find evidence that households in sunnier areas are more likely to have solar home systems across countries. This study motivates policymakers to consider greater support for households far from capital cities, in sunnier regions, and with low levels of assets
Unveiling the Shadow: Theorizing the Impact of Narcissistic Leadership on Sales Teams
(2024) Bullemore, Jorge
This study investigates the dual nature of narcissistic leadership within sales teams, revealing its potential to both inspire ambitious goals and undermine team cohesion and performance. By integrating a comprehensive literature review, the research outlines the characteristic behaviors of narcissistic leaders, such as arrogance and a lack of empathy, and their impact on team dynamics, including reduced cohesion, increased conflict, and impaired team performance. The paper proposes strategies to mitigate these negative effects, such as leadership development programs, team-based performance evaluations, and fostering a culture of empathy. It highlights the importance of understanding and addressing the complexities of narcissistic leadership to cultivate healthier, more productive team environments. The findings call for further research into the long-term effects of narcissistic leadership and the development of effective management strategies
When given two choices, take both! Social impact assessment in social entrepreneurship
(2024) Muñoz, Pablo; Gamble, Edward N.
This paper examines how social entrepreneurs construct impact arguments as they begin to assess social impact. We examined the experiences of 68 social entrepreneurs in Chile and discovered that the construction of arguments for the purpose of thinking about and experiencing impact is different than the arguments constructed to establish dialogues around it. We explain this dual argument construction as arguments for worth and arguments for legitimacy. We expand scholarship on argumentation by clarifying social entrepreneurs’ efforts to pursue adherence facing competing demands and reinforcing their willingness and ability to engage with social impact assessment. We advance the understanding of social impact assessment in social entrepreneurship across three areas: tensions, accountability and performance and extend Nicholls’ general theory by explaining what precedes the discursive space where the assessment of social impact reconciles facticity and validity to establish materiality.
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.
Understanding the role of personal experiences and contextual variables in shaping risk reduction preferences
(2023) Barrientos, Manuel; Vásquez Lavín, Felipe; Rosales, Constanza; Bratti , Luna
This article explores how preferences for risk reduction during the COVID-19 pandemic are influenced by personal experiences and contextual variables such as having a close friend or relative who has been infected by the virus (closeness), the severity of the illness (severity), people’s own perceptions of being in a risky group (risk group), change in employment status due to the pandemic (employment situation), and vaccination status (vaccination status and altruistic vaccination). We conducted a choice experiment (CE) in Chile, Colombia, and Costa Rica. The attributes of the experiment were risk reduction, latency, and cost. Then, we estimated a mixed logit model to capture preference heterogeneity across the countries. The attributes presented in the CE were statistically significant, with the expected sign in each country. The variables closeness and employment situation presented homogeneous behavior in each country; however, severity, risk group, and vaccination status showed mixed results. We found that preferences were more heterogeneous for the attributes of the CE than for the personal experiences and contextual variables. Understanding the impact of these variables is essential for generating more effective risk reduction policies. For instance, methodologies such as the value of statistical life base their calculations on society’s valuation of risk reduction. We provide evidence that the preferences for risk reduction vary due to the everyday situations that individuals face in the context of the pandemic. The latter may cause distortions in the values used to evaluate policies aimed at mitigating the outbreak.
Trans‑contextual work: doing entrepreneurial contexts in the periphery
(2023) Muñoz, Pablo; Kimmitt, Jonathan; Spigel, Ben
This study explores how entrepreneurs “do” contexts in peripheral areas. Through the examination of changes in roles, practices, and relationships across peripheral areas in Chile, we found that substantive transformations result from the momentary repurposing of systems of provision, types of interdependencies, and sources of reliance within public, community, and family contexts. Drawing from the perspective of interstitial spaces and extensive data, this is done through three interwoven interaction rituals: support seeking, neighboring, and nesting. We abductively theorize the connection between these rituals as trans-contextual work. As entrepreneurs do contexts through trans-contextual work new entrepreneurial ideas, practices and artifacts begin to reorganize community resources and transform the commune’s social into an entrepreneurial life. Our research expands the current understanding of contextual change in peripheral areas and contextualization in entrepreneurship more broadly.
The role of individual capabilities, workplace, and national culture on corporate entrepreneurship: A gender perspective
(2023) Ruiz, Linda Elizabeth; Amorós, José Ernesto; Guerrero, Maribel
This cross-country study proposes conceptualizing and measuring the engagementof a gendered workforce in corporate entrepreneurship by examining the infuence of individual capabilities, workplace environment perception, and national culture. The study uses information from the Global Entrepreneurship Monitor and World Bank from 22 countries among a sample of employees managing projects within established frms. Results reafrm the importance of having a job that fully aligns with the interests of employees regarding their gender; in this case, the perception of having a meaningful job and having the autonomy to develop novel activities are strong determinants. However, gender diferences may be more pronounced when considering work-life balance satisfaction. These fndings enrich the literature on corporate entrepreneurship and gender and establish important insights for corporations wanting to develop a workplace environment promoting entrepreneurial activity.
The economics impacts of long-run droughts: Challenges, gaps, and way forward
(2023) Fernández , Francisco J.; Vásquez Lavín, Felipe; Ponce, Roberto D.; Garreaud , René; Hernández, Francisco; Link , Oscar; Zambrano, Francisco; Hanemann, Michael
Quantifying drought's economic impacts has been key for decision-making to build future strategies and improve the development and implementation of proactive plans. However, climate change is changing drought frequency, intensity, and durability. These changes imply modifications of their economic impact, as longer droughts result in greater cumulative economic losses for water users. Though the longer the drought lasts, other factors also play a crucial role in its economic outcomes, such as Infrastructure capacity (IC), the Amount of Water in Storage (AWS) in reservoirs and aquifers, and short- and long-term responses to it. This study proposes and applies an analytical framework for the economic assessment of long-run droughts, assessing and explaining central Chile megadrought economic effects through the factors that begin to influence the economic impact level in this setting. High levels of both IC and the AWS, as well as short- and long-term responses of water users, allow for high resilience to long-run droughts, tolerating extraordinary water disruption in its society with relatively low total economic impacts. Despite this adaptability, long-term droughts bring places to a water-critical threshold where long-term adaptation strategies may be less flexible than short-term strategies, escalating the adverse economic effects. This fact suggests that the economic evaluation of megadrought needs to focus on future tipping points (substantial water scarcity). The tipping point depends on the IC, how water users manage the AWS, and adaptation strategies. Establishing the tipping point should be a priority for future interdisciplinary research.
Re‑viewing the entrepreneurial university: strategic challenges and theory building opportunities
(2023) Guerrero, Maribel; Fayolle, Alain; Di Guardo, Maria Chiara; Lamine, Wadid; Mian, Sarfraz
Influenced by the neo-liberal economic perspective, in which universities are evaluated based on their contribution to society, the term “Entrepreneurial University” (EU) emerged in the early 1980s. The entrepreneurial university has evolved as a “natural” incubator supporting entrepreneurship, innovation, and sustainability in the university community (e.g., students, alumni, staff, and academics) and beyond civic engagement. Over the last four decades, academic debates on why and how higher education organizations could play this key role have become increasingly important in the business and management literature. It has motivated several special issues published in multidisciplinary academic journals, literature reviews, and theoretical-empirical contributions. However, there is a defragmentation of the literature given the unique nature of each entrepreneurial university during the current decade and the forced transformation of entrepreneurial organizations due to new (technological and health) paradigms. Therefore, this new decade opens the door for re-viewing the theoretical foundations and empirical evidence of entrepreneurial universities. Inspired by these universities’ challenges, this special issue represented a unique opportunity to build a novel theory that provides an updated theoretical view of the entrepreneurial university phenomenon (e.g., re-conceptualization, re-view missions, re-view business models, re-view metrics), as well as to offer new insights about how the new paradigms have transformed core entrepreneurial university activities (education, research, technology transfer, and entrepreneurship), strategies, and interconnectedness with ecosystems. This introductory paper encouraged an in-depth multidisciplinary conversation within the management and related research community from different socio-economic settings to make theoretical and empirical contributions. As a result, six papers have contributed to this special issue and provide several implications for different stakeholders.
La Eficiencia de la producción de quinua en zonas altoandinas: el caso de Puno-Perú
(2023) Ataucusi, Yiem; Mercado, Waldemar; Ponce, Roberto D.; Orihuela, Carlos; Luna, Hugo; Ortiz, Hatzel; Mogollon, Raymundo
El objetivo de esta investigación es evaluar la eficiencia técnica y económica en la producción de quinua en el Departamento de Puno, Perú, mediante el uso del modelo de la función de producción estocástica. Para ello, se aplicaron encuestas presenciales a 461 productores, los cuales fueron segmentados según su práctica cultural (quechua y aymara) y su zona agroecológica (Circunlacustre, Suni y Puna). Los resultados indican que los aymaras son más eficientes que los quechuas. A nivel de zonas agroecológicas, la zona Suni presenta mayor eficiencia técnica del productor de quinua (0.74) en comparación con otras zonas. El promedio de todas ellas fue 0.68. Además, se encontró que en zonas donde predominan prácticas productivas tradicionales, la eficiencia técnica explica mejor la relación entre los insumos y los productores, ya que en su mayoría estos se sienten motivados a garantizar su seguridad alimentaria, en tanto, lograr eficiencia en costos no sería propósito de las economías familiares altoandinas, pues pocos productores se motivan a maximizar beneficios monetarios.
Is this a family business? Effectiveness of implementing family businesses branding strategies on a radio platform
(2023) Alonso-Dos-Santos, Manuel; Llanos-Contreras, Orlando; Ibáñez, María José; Farias-Nazel, Pablo
Understanding how family firms can use their family image to their advantage in communication strategies is an opportunity for business continuity. This study identifies the effects of family hotels' corporate brand strategy through radio advertising on customer perceptions and attitudes using family image communication literature and radio advertising research. Online experiment using radio ads from these hotels and a survey of 1002 participants from Chile and Spain were conducted. The results suggest that strategies improving the firm's ability to communicate the family image results in better consumer response in terms of expectation, perceived quality, visit intention, and willingness to pay more. We conclude that radio ads are an effective channel for communicating family firm images. Managers can take advantage of monetizing the benefits of family firm images through radio ads.
Intrahousehold bargaining power and time allocation for multiple activities
(2023) Cardenas Retamal, Roberto; Barrientos Cifuentes, Manuel; Vásquez Lavín, Felipe; Ponce, Roberto D.
During the last decades, important policies have been implemented to incorporate women into the labor market, reduce persistent gender inequalities, and balance the time allocation between paid and unpaid work. We assess the Chilean case considering couples’ time allocation with an explicit consideration of intrahousehold bargaining power (relative wages and education). The Chilean case is interesting because we use the first urban national survey of time use, which could help understand gender differences in labor participation. We estimate a demand model, specifically a Multiple Discrete-Continuous Extreme Value (MDCEV) model considering six time-consuming activities on weekdays and weekends. In addition, we assess two hypothetical scenarios, namely, a proxy to childcare availability policy and an increase in women’s relative wages. We found that bargaining indicators are related to how individuals allocate their time, particularly the inverse relationship between the time allocated to housework and paid work. Moreover, we found that increasing women’s bargaining power in terms of wages could produce stronger labor force participation increments. Finally, our simulations show that while women can bridge the gap between paid and unpaid work, they continue to spend more time on domestic activities than men.
Modelamiento hidro-económico de los efectos del cambio climático y política en la agricultura andina
(2023) Crispin Cunya, Marianella; Ponce, Roberto D.; Rendon Schneir, Eric; Arias Montevechio, Esteban Eduardo
El cambio climático viene afectando de manera diferenciada a la agricultura, en particular, en la zona andina, dada su alta exposición, sensibilidad y baja capacidad adaptativa. Se evaluó la respuesta adaptativa de la agricultura andina frente a una variación de la disponibilidad hídrica debido al cambio climático en base al modelo hidro-económico que integra dos módulos: el modelamiento hidrológico en base al SWAT y un modelo económico de optimización en base al PMP. Se determinó una alta vulnerabilidad agrícola frente al cambio climático situación que podría revertirse al aplicar una política agraria en base al uso eficiente del agua.
Female underperformance hypothesis revisited: methodological review and empirical testing.
(2023) Ibañez, María José; Vásquez Lavín, Felipe; Ponce, Roberto D.
Comparison between the performance of female and male-managed firms has long been a subject of research interest. Although the argument is that firms run by women have lower performance than those run by men, there is no agreement on the effects of managerial gender on companies’ financial outcomes. This study conducts a methodological review of quantitative research on the relationship between female business leadership and firm performance from 2010 to 2020. This review identifies the most frequently used dependent and explanatory variables and econometric models in the literature. Most studies have not considered endogeneity bias in their model specifications; therefore, these results could be biased and unreliable. We select empirical models to test the female underperformance hypothesis using a sample of Chilean firms. Our findings suggest that managers’ gender does not significantly affect business performance when endogeneity is addressed. Our methodological review reveals a significant gap in the research on female managers and firm performance in the Latin American context, and the empirical test provides new evidence in this vein.
Entrepreneurial growth aspirations during the COVID-19 pandemic: the role of ICT infrastructure quality versus policy response
(2024) Guerrero, Maribel; Mickiewicz, Tomasz; Qin, Fei
We posit that the quality of information and communication technology (ICT) infrastructure and the effectiveness of crisis-specific policy response are essential for entrepreneurial growth aspirations during major external shocks. Enhancing the quality of ICT infrastructure is a relevant strategy for building ecosystems that are resilient to multiple types of crises. It enhances entrepreneurs’ growth ambitions during the crisis, and makes them less reliant on crisis-specific response policies adopted by governments. We provide empirical support for this, utiliz-ing Global Entrepreneurship Monitor (GEM) data from the pandemic period in Chile.
Developing teams in a virtual environment: a generative approach
(2023) Pavez, Ignacio; Neves, Ernesto
At the beginning of 2020, the operations of the Finance Hub of the Americas (FHoA) at pharmaceutical company GlaxoSmithKline (GSK) were suddenly forced to shift entirely from face-to-face to remote work. To handle this challenge, an FHoA team started a team development process aimed at strengthening teamwork in virtual environments. The intervention was grounded in the principles of generative leadership and dialogic organization development. Through a scholar-practitioner collaboration that focused on identifying the drivers of the successful transition to remote work, we build a three-step process of team development using the metaphor of organic growth: (1) sowing, (2) nurturing, and (3) flourishing. Using GSK’s example, we illustrate how this process became a simple but powerful strategy to help teams thrive in a virtual environment. The core of the process uses generative questions to configure a structured but adaptable process that can be easily implemented in different contexts and situations.
Evaluando las condiciones de racionalidad y plausibilidad en la valoración de conservar la biodiversidad de un país megabiodiverso: El caso del Manu en Perú
(2023) Dávila, José; Vásquez Lavín, Felipe; Orihuela, Carlos Enrique; Ponce, Roberto D.; Lavado-Solis, Karol; Paredes-Vilca, Oscar; Mogollón Ñañez, Raymundo; Díaz, Sabrina
Según la NOAA, los resultados de una valoración económica son aplicables como política pública si cumplen dos condiciones: racionalidad y plausibilidad. En el presente estudio, se realiza la valoración económica de conservar la biodiversidad del Parque Nacional del Manu en Perú (país megabiodiverso), a partir de tres representaciones: especies, hábitat y funcionalidad. Se identificó la presencia de sensibilidad al alcance en la mayor parte de atributos empleados. Al incluir características socioeconómicas se identificó que el género y los niveles salariales afectan las preferencias. Los resultados muestran que las especies de flora amenazada y la funcionalidad cumplen con ambas condiciones.
Reconceptualising Franchisee Performance: A configurational approach in a base-of-the-pyramid context
(2024) Newbery, Robert; McKague, Kevin; Muñoz, Pablo; Kimmitt, Jonathan
This paper proposes and tests a new conceptual framing for franchisee performance that draws on institutional complexity to explore the interaction of corporate, market and relational logics of performance. Extant research draws on corporate and market logics to explain performance, however, this does not explain individual franchisee performance in complex institutional environments such as Base-of-the-Pyramid (BoP) markets where relational logics may be more important, limiting explanations of how franchisee outlets perform. Drawing on data from a network of 58 franchise outlets in the context of Kenya, we conduct a configurational analysis related to sales outcomes. We leverage fsQCA to map out the conditions under which franchisees exhibit higher sales performance. Results show that three different configurations can lead to increased sales performance. Our results paint a nuanced picture of combinations of factors that result in franchisee success with relevance to the BoP context and beyond.
How founders harness tensions in hybrid venture development
(2024) Muñoz, Pablo; Farny, Steffen; Kibler, Ewald; Salmivaara, Virva
Although the simultaneous presence of multiple ambitions is inherent in hybrid venturing, pursuing social and/or environmental missions while securing commercial viability can generate ambivalence amongst stakeholders. In this study, we draw on the notion of ‘holism’ to show how venture founders both embrace tensioned ambitions and sustain hybridity during critical venture development phases. Based on six years of data on The People’s Supermarket in the UK, we identify three distinct practices––fantasising, bartering, and conjuring––used by founders to harness tensions productively, without compromising their venture’s multiple ambitions. These practices demonstrate founders’ ability to maintain a venture’s hybrid nature throughout the ideation, organisational, and scale-up phases, thereby shedding light on the application of ‘holism’ within the realm of hybrid venturing.

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