Artículos Economía y Negocios

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  • Publication
    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.
  • Publication
    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.
  • Publication
    Human-animal mutualism in regenerative entrepreneurship
    (2024) Muñoz, Pablo; Hernández, Mauricio
    In this paper, we explore the micro-interactions through which a regenerative enterprise engages with proximate natural ecosystems in its attempt to repair and protect them. Through an ethnographic study of a regenerative farming enterprise in rural Southern Patagonia - Fundo Panguilemu - we discover a reciprocal relationship between the enterprise and animals, central to their regenerative efforts. This relationship is formed and actively maintained by the founders through three practices - joint rewilding, ambivalent relationality, and task interdependence. We leverage nature relatedness to conceptualize the relationship between these practices as human-animal mutualism in regenerative work. We advance regenerative entrepreneurship research by revealing novel human-nature interactions formed and fostered by a rural enterprise in the pursuit of local regeneration and expand our understanding of micro-level phenomena in rural entrepreneurship
  • Publication
    El plagio en estudiantes de pregrado: un abordaje desde las representaciones sociales
    (2022) Strocchi, María Verónica; Boysen, Paulina; Barros Iverson, Verónica; Castillo Rabanal, Isidora
    Este estudio busca dar cuenta del significado que los estudiantes asignan al plagio, mediante el abordaje de las representaciones sociales. El diseño de investigación respondió a un estudio mixto, centrándose este artículo en el análisis de datos cualitativos, efectuado a través del procedimiento de la Teoría Fundamentada. Los resultados permitieron identificar las diferentes categorías que conforman la representación de plagio que poseen los estudiantes. Cabe destacar, que predomina una valoración negativa de este fenómeno, que lo configura como un obstaculizador del desarrollo académico y profesional. No obstante, los alumnos reconocen que no siempre cuentan con los mecanismos para evitarlo.
  • Publication
    Use of medical services in Chile: How sensitive are the results to different econometric models?
    (2022) Chovar Vera, Alejandra; Vásquez Lavín, Felipe; Paraje Pisoni, Guillermo; Barrientos Cifuentes, Manuel
    Background We compared different econometric specifications to model the use of medical services in Chile, focussing on visits to general practitioners and specialist physicians. Methods The evaluated models are the Poisson, Negative Binomial, Zero Inflated Poisson and Negative Binomial, two-step Hurdle model, sample-selection Poisson, and Latent Class model. These models were estimated using Chilean data for the years 2009 and 2015, separated by gender. Results Unlike previous literature that supported the use of the latent class model, our results show that the latent class model is not always the model with the best goodness of fit. Furthermore, the model with the best fit is not necessarily the model with the best predictive power. For instance, depending on the year and medical services, either the latent class model or the sample-selection Poisson model performs better than the other models. The results also show that the selection of the econometric model may have implications for the estimated influence that variables such as age, income, or affiliation to the public versus private sector have on the use of medical services. Conclusion Using Chilean data, we have tested that the selection of an econometric method to model the use of medical services is not a problem with a unique answer. We recommend performing a sensitivity analysis of goodness of fit and predictive power between gender, healthcare services, or different years of datasets in future applications to be sure about the best model specification in each context.
  • Publication
    Local entrepreneurial ecosystems as configural narratives: A new way of seeing and evaluating antecedents and outcomes
    (2022) Muñoz, Pablo; Kibler, Ewald; Mandakovic, Vesna; Amorós, José Ernesto
    This paper develops and applies a new evaluative approach to local entrepreneuriale cosystems, as configural narratives. We examine how configurations of local entrepreneurial ecosystem attributes, as evaluated by local experts, support or hinder the emergence of new and innovative firms. Drawing on sociology of place, we present a novel configurational comparative analysis of local experts' evaluation of their ecosystems in Chile. Our proposed approach to entrepreneurial ecosystems helps us uncover two counterintuitive findings and so elaborateon interferences that have not yet been addressed through conventional concepts, methods and data. First, we reveal three distinct ecosystem types explaining different local levels of new firm activity: Active self-propelled, Indulged and Passive self-absorbed. The internal composition of these types change when only innovative and high growth firms are taken into consideration. Second, we show why, when seen as configural narratives, ecosystem attributes that have been assumed necessary play only a peripheral role. Our study demonstrates a split picture against seemingly similar outcomes and homogenous local contexts, contributing to the advancement of entrepreneurial ecosystem theory, observation and assessment.
  • Publication
    Attributional triadic relationships between end-users, specifiers, and vendors: Evidence from building supply retailers
    (2022) Bullemore, Jorge; Palomino-Tamayo, Walter; Wakabayashi Muroya, Jose Luis
    Purpose – This study proposes to evaluate product attributes in an unusual triad of actors: end-users, vendors, and specifiers. The differences in perceptions of product attributes between these triadic actors can bias strategic marketing decisions for functional and aesthetic products in a building supply retailer, which is understudied in the retail literature. Theoretical framework – The study uses the attribution theory approach and provides a new perspective to explain differences in attribute evaluations in this triad (end user-specifier-vendor). Design/methodology/approach – The hypotheses are tested in two countries’ functional and aesthetic building material categories. Attribute evaluations were performed using the ranking method and Borda count. We used ANOVA, linear discriminant analysis (LDA), and the Mahalanobis squared distance (MSD) for the estimations. Findings – The hypothesis tests confirmed the difference in attribute evaluations between end-users, vendors, and specifiers for functional products; however, as we hypothesized, no difference was found for aesthetic products. Practical & social implications of research – Our discussion will help retail practitioners avoid bias in marketing strategy. In the development of new products, manufacturing companies should consider differences between actors, especially in collaborative product developments. Originality/value – This study contributes to the literature by using an attribution theory approach and provides a new perspective to explain differences in attribute evaluations in this triad (end-user-specifier-vendor). We provide insights into allocating causes and responsibility in product attribute selection.
  • Publication
    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.
  • Publication
    New results on precautionary saving and nonlinear risks
    (2022) Vergara, Marcos; Bonilla, Claudio
    We study precautionary saving in a two-period model that allows for nonlinear risks and nonseparable preferences. Permitting nonlinear risk effects is important because they are common in the developing world or when worldwide shocks hit economies, like the COVID-19 pandemic. Allowing nonseparable preferences is also important because they admit the incorporation of intergenerational transfer, habit persistence and other specific features of intertemporal decision making. We decompose the risk shock using Davis’s (Int Econ Rev 30(1):131–136, 1989) compensation method and analyze the income and substitution effect of an increase in risk. We prove that the substitution effect is always negative and, therefore, the income effect must be positive and larger in size to have a precautionary net effect. We then apply the method to various sources of risk, such as income, interest rate and wealth risk. We analyze the magnitude of each effect and find the conditions required to guarantee precautionary saving in each case. Our results are presented as signs of covariances, which provides a new perspective on precautionary saving.
  • Publication
    Varieties of time in business sustainability: An integrative review and research agenda.
    (2023) Morales-Raya, Matilde; Muñoz, Pablo
    In this paper, we tackle the lack of clarity in the conceptualization and substantive use of time in business sustainability research. We do so by means of an integrative review that synthesizes 172 papers published over the last 20 years across seven subject areas within business and management research. From our review, we developed a typology that highlights three primary categories that differentiate various conceptualizations and uses of time in business sustainability literature: 1. Temporal resourcing, 2. Temporal structuring, and 3. Temporal prospecting for sustainability. The typology organizes a body of literature that remains scattered, provides conceptual clarity, and opens avenues for future empirical research and theorization in the space.
  • Publication
    The deterioration of self-worth in entrepreneurship
    (2023) Muñoz, Pablo; Barton, Marieshka; Braun, Susanne; Chowdhury, Farzana; Jayne-Little, Nicola; Komes, Jessica; Rowland, Joanne; Sykes, Katherine; Smith, Jason; Talbot-Jones, Clare; Taggart, Adele
    This paper explores the deterioration of self-worth in entrepreneurship. Using a 15-month participatory action research in the North of England, we found mismatches between expectations and experiences at three interacting levels—purpose, autonomy, and achievement—which surface as entrepreneurs reflect on execution, performance, and fulfillment experiences. Mismatches materialize as incongruence between the ideal states under pursuit and the actual experiences, which compound leading to a diminished sense of control, direction, and worthiness, which in turn further fuels a cycle of negative emotions, involving anxiety, isolation, shame, and guilt. We discuss implications for entrepreneurs’ mental health
  • Publication
    Possible versus desired diets: food legislation as additional stress for low-income mothers
    (2023) Donskoya, Raquel; Cardoso, Flavia
    Deciding what, where, when and how much to feed a child occu-pies much of a mother’s time, energy, and financial resources. This study aids our understanding of the effects of legislation promoting healthier eating on mothers from low socioeconomic groups and on their families. We interview mothers and nutrition experts in Santiago, Chile – the site of the most recent and comprehensive effort to change a population’s food habits via legislation. We introduce the notions of ‘desired diets’ – ideal diets promoted by health experts and public policy discourses that moralise food consumption and promote consumer responsibilisation for health- related issues; and ‘possible diets’ – diets that mothers can adapt to and habituate in the household, considering their life realities. We argue that the notions of possible and desired diets often find themselves at odds, leading to mothers facing moral scrutiny, anxiety, and stress, which affects their sense of self, shaping notions of ‘good mothering’
  • Publication
    Can transparency increase adverse selection? Evidence from an electronic platform for annuities
    (2023) Fajnzylber, Eduardo; Gabrielli, M. Florencia; Willington, Manuel
    We show that the introduction of an electronic platform in the Chilean annuity market with the objectives of bringing transparency and enhancing competition also exacerbated adverse selection. The longevity gap between male annuitants and non-annuitants increased around 24 months
  • Publication
    Estimating damages from bidding rings in first-price auctions
    (2023) Gabrielli, M. Florencia; Willington, Manuel
    Bidding rings typically coordinate to rig auctions and keep prices low. Despite bid rigging being pervasive,measuring its damages (i.e., the revenue loss suffered by the auctioneer) is a challenge for antitrust authorities.Indeed, most of the methods to quantify damages compare outcomes of auctions affected by the collusivebehavior with unaffected auctions, requiring data that is hard to obtain. We propose a model-based methodto estimate damages. Its main advantages are that only information on affected auctions is required and thatthe underlying assumptions of the economic model are explicit, so they can be challenged and eventuallymodified for damage reassessment. In a Monte Carlo exercise, we show that our methodology performs wellin moderate-size samples. We apply our method to data from the Ohio milk cartel and estimate damagessimilar to those found in previous studies, even when we discard information from non-affected markets.
  • Publication
    Outcomes-based contracts and the hidden turn to public value management
    (2023) Kimmitt, Jonathan; Muñoz, Pablo
    Despite long-standing criticisms of the paradigm, New Public Management (NPM) retains a strong influence over organizationsin public administration. Social Impact Bonds (SIB) are anoutcomes-orientedinvestment entity which has emerged from NPMwith grand promises of social change. Building on a longitudinal case study of a health-basedSIB, this paper identifies how key actors move away from NPMbyresisting such management principlesand shifttoward Public Value Management (PVM). The paper finds that this is possible when the public interest and performance objectives are designed with a public value orientation whilst other NPM principles shift over time through resistance and negotiation. The paper provides insight into how key actors re-organizeto embed public value in a financing and public service delivery structure that is often regarded as flawed and inefficient.The paper offers several contributions to public value literature, including the role of the state, as well as the emerging literature on SIBs and outcomes-based contracts.
  • Publication
    Was Covid-19 the end of B2B sales as we know it? understanding the new skills and competencies of the B2B sakes oersib after a disruption event such as Covid-19
    (2023) Bullemore, Jorge; Díaz Tautiva, Julián
    Purpose: The aim of this study is to examine despite Covid-19 pandemic, several companies managed to grow their sales. This leads us to our research questions: what selling competencies make best salespeople post Covid-19 disruption? And, which of the sales competencies make to be most important toward their job performance? Theoretical framework: The B2B selling abilities post Covid-19 as the subject of this study has been little research by the academy and without a dominant theoretical framework, but rather a partial vision. This article contributes to integrating the scarce academic literature, which, as we demonstrate, is mainly empirical, with a theoretical domain. Design/methodology/approach: The use of established generic scales capturing each of the constructs of interest by surveying Key Account Managers in a B2B industry setting. Descriptive statistics, psychometric properties, pairwise correlations, and partial least squares structural equation modeling (PLS-SEM) where deployed. Findings: The results suggests that there is a positive direct effect of salesperson bricolage, adaptive selling, resiliency, salesperson' self-efficacy, and psychological flexibility with salesperson post-disruption performance. Lastly, a negative indirect effect is found between learning orientation, salesperson creativity, and salesperson grit. Research, Practical & Social implications: The study has focused on the proposal of what are the new sales competencies that B2B key account managers must develop to achieve a better sales performance, so managers must train and coach their B2B Key Account Managers (KAM) considering the new abilities needed (salesperson bricolage, adaptive selling, resiliency, salesperson' self-efficacy, and psychological flexibility) for sales success. Originality/value: The value of this study is a novel effort to understand what skills are needed to succeed in the post Covid-19 B2B selling environment.
  • Publication
    Understanding the role of institutions and economic context on entrepreneurial value creation choice
    (2023) Diaz Tautiva, Julian Andres; Salvaj, Erica; Vásquez Lavín, Felipe; Ponce, Roberto D.
    Research background: The observable discrepancies in entrepreneurship activity across countries have motivated both researchers and policymakers to comprehend the sources of these variations. Certain scholars have suggested that the answer to this empirical puzzle lies in the macrolevel processes that influence entrepreneurial endeavours. Purpose of the article: As the understanding of macrolevel processes that shape entrepreneurial behaviour is limited, this research aims to answer how institutions and the economic context influence entrepreneurial value creation choices (i.e., for-profit, non-profit, and mixed). Methods: Using a cross-country sample of 7,891 entrepreneurs in 58 countries, we employ a multilevel ordered probit to evaluate a novel conceptual framework. Our analysis models the direct impact of the regulative framework, the normative pillar, and the cultural pillar, alongside the moderating influence of income inequality and economic uncertainty on value creation choices. Findings & value added: Our findings show that the regulative framework has a positive marginal effect on for-profit and mixed-value creation, but a negative effect on non-profit value creation. Meanwhile, the normative pillar has a negative marginal effect on for-profit and mixed-value creation, but a positive effect on non-profit value creation. The cultural pillar has a negative marginal effect on for-profit and mixed-value creation, but a positive effect on non-profit value creation. Furthermore, income inequality moderates positive the relationship between normative pillar and for-profit and mixed-value creation, while economic uncertainty moderates negative the relationship between normative pillar and for-profit and mixed-value creation. Our research contributes to the literature by providing a nuanced understanding of how institutional pillars can act as drivers or barriers for different entrepreneurial forms, evidence of how uncertainty interacts with institutional forces to shape value creation decisions, and insights into the distinctive attributes of different entrepreneurial forms. Our findings have implications for public policy development.
  • Publication
    “As if it were home”: An exploratory study of the role of homesickness among migrant entrepreneurs
    (2023) Poblete, Carlos; Mandakovic, Vesna; Apablaza, Mauricio
    A common pattern observed in the psychological literature on migrants is homesickness, yet there is a lack of research examining if this phenomenon has any effect in the entrepreneurship sphere. This study begins to fill this gap with an inductive approach examining the Venezuelan migratory wave in Chile. Methodologically, we conduct an oral history analysis of 18 Venezuelan entrepreneurs’ narratives to explore the reasons they built their entrepreneurial ventures and the mechanisms underlying this process. Based on our findings, we show that homesickness can become an enabler that links entrepreneurs with a (latent unsatisfied) demand by facilitating the entrepreneurial ideation process. This phenomenon occurs because the engagement between individuals is heightened when they experience homesickness. On the one hand, we notice that homesick entrepreneurs enhance three resources that contribute to the entrepreneurial ideation process: (1) rhetorical skills, (2) affective empathy, and (3) adaptive attitude. On the other hand, two features also facilitate interaction from the demand side: (1) customer persona and (2) cohesive community identity. Thus, our results suggest that migrant entrepreneurs gain trusted partners based on shared homesickness. Consequently, a more efficient and effective entrepreneurial ideation process is generated.
  • Publication
    When Tax-exempt nonprofits detract value from society
    (2022) Gamble,Edward N.; Muñoz, Pablo
    Nonprofits receive tax exemptions in return for social value creation and delivery. While the outcomes of these tax exemptions are often positive, there are value-detracting situations in which the cost of granting the tax exemption is likely to exceed its benefits. To date, explanations for these value-detracting situations remain scattered and discipline-centric. Therefore, the purpose of this paper is to clarify the conditions under which tax-exempt nonprofits detract value from society. We survey 15 years of tax-exempt nonprofit scholarship, across nine disciplines, and identify three value-detracting conditions: policy-making and regulation intemperance, nonprofit management and governance distraction, and detection and prosecution inconsistencies. These three conditions interact and reinforce each other, compounding the value destruction to society. Overall, our findings offer important policy insights regarding the unintended consequences of tax exemptions, and our framework can be used to identify negative-return situations.
  • Publication
    The role of passion diversity, compassion, and self‑compassion for team entrepreneurial passion
    (2023) Ginting‑Szczesny, Bernadetta A.; Kibler, Ewald; Cardon , Melissa S.; Kautonen, Teemu; Hakala, Henri
    Passion among entrepreneurial teams can contribute to team performance; yet we still have little understanding of the determinants of team passion. Drawing from the literature on social emotions, we theorize and empirically examine the influence of compassion and self-compassion of team members on the shared team entrepreneurial passion (TEP). Using an original sample of 326 individuals from 107 venture teams, we provide novel evidence that, in addition to team passion diversity, compassion and self-compassion significantly relate to TEP. Specifically, we demonstrate that compassion and self-compassion contribute to polyfocal TEP, which is more beneficial for team outcomes than monofocal TEP