Template-Type: ReDIF-Article 1.0 Author-Name: Eduardo E Sandoval Author-Name: Sandra P Borotto Title: THE EFFECT ON SHAREHOLDERS’ WEALTH IN COMPANIES OF THE AUTOMOTIVE INDUSTRY, AFTER THE VOLKSWAGEN ANNOUNCEMENT OF CHEATING IN THE GAS EMISSION CONTAMINANTS OF ITS VEHICLES, EFECTO EN LA RIQUEZA DE LOS ACCIONISTAS DE LAS COMPANIAS LIDERES DEL MERCADO AUTOMOTRIZ MUNDIAL TRAS EL ANUNCIO DE ENGANO DE VOLKSWAGEN EN LA EMISION DE GASES CONTAMINANTES DE SUS VEHICULOS Abstract: This article uses event study methodology, through the application of seemingly unrelated regressions (SUR), to estimate the effect of Volkswagen executives announcement about their cheating in gas emission contaminants of vehicles produced and sold by the company on the stock returns of Volkswagen as well as on the leading companies in the global automotive industry. Empirical results indicate significant negative abnormal returns of -17.41% for shareholders of Volkswagen on the day of announcement. In addition, two other companies were affected negatively, Daimler and BMW. Therefore, this announcement was quickly incorporated into the stock prices of these German companies which compete in the global automotive industry. This reflects the punishment exercised by global investors to the unethical behavior of the key executives of Volkswagen. The article ends with the implications of this type of behavior on shareholders' wealth and on other stakeholders of the companies Classification-JEL: G11, G14 Keywords: Cheating, Seemingly Unrelated Regressions, Abnormal Return Journal: Revista Internacional Administracion & Finanzas Pages: 1-16 Volume: 10 Issue: 2 Year: 2017 File-URL: http://www.theibfr2.com/RePEc/ibf/riafin/riaf-v10n2-2017/RIAF-V10N2-2017-1.pdf File-Format: Application/pdf Handle: RePEc:ibf:riafin:v:10:y:2017:i:2:p:1-16 Template-Type: ReDIF-Article 1.0 Author-Name: Kyria E. Echevarría Alicea Author-Name: Rosaliz Santiago Ortega Title: PERCEPTION OF EMPLOYEES WELL-BEING: A COMPARATIVE STUDY BY GENDER, PERCEPCION DEL BIENESTAR LABORAL DE LOS EMPLEADOS: ESTUDIO COMPARATIVO SEGUN SU GENERO Abstract: Well-being of employees is desirable within organizations goals. It is a positive indicator of the actions taken by any company to make the worker's experience in organizing something that encourages good performance and therefore achieve better results (Gómez, 2013). The purpose of this research was to measure the relation of overall labor well-being and gender. We establish the relationship between psychosocial well-being and gender and assess the relationship between collateral effects and gender. We explore the psychometric properties of the Labor Well-being General (qBLG) quietionnaire. The dependent variables of psychosocial well, collateral effects and general work well with the independent variable gender. We use gender because according Crespo (2014) sometimes females experience more stress and more physical and pain symptoms than men. We use the questionnaire General Labor Wellbeing (Blanch et al., 2010) which was authorized, for data collection. The research was descriptive and quantitative. We use a sampling method called snow ball exponential character. We find that general labor welfare and psychosocial wellness have no statistically significant differences by gender. However, collateral effects do have significant differences by gender. Classification-JEL: M00, M10 Keywords: Labor Well-Being, Psychosocial Well-Being, Collateral Effects Journal: Revista Internacional Administracion & Finanzas Pages: 17-27 Volume: 10 Issue: 2 Year: 2017 File-URL: http://www.theibfr2.com/RePEc/ibf/riafin/riaf-v10n2-2017/RIAF-V10N2-2017-2.pdf File-Format: Application/pdf Handle: RePEc:ibf:riafin:v:10:y:2017:i:2:p:17-27 Template-Type: ReDIF-Article 1.0 Author-Name: Juan Carlos Lezama Palomino Author-Name: Miguel Angel Laverde Sarmiento Author-Name: Carlos Arturo Gómez Restrepo Title: THE STOCK MARKET AND ITS IMPACT ON THE ECONOMY: A COLOMBIAN CASE STUDY 2001-2013, EL MERCADO DE VALORES Y SU INFLUENCIA EN LA ECONOMIA: ESTUDIO DEL CASO COLOMBIANO 2001-2013 Abstract: The aim of this paper is to present the results of research to measure the influence of behavior in the Colombian´s stock market. To complete this task, it is necessary to take the economic development as a reference. Therefore, five variables must be taken into account and theoretically explained through the implementation of the VAR model. This document contributes to the development of applied financial economics. We find a positive connection between the market and economic behavior. In addition, since the Colombian´s stock market is highly concentrated; it is evident that the 10 high trading companies affect GDP Classification-JEL: C01, C22, C51, G14 Keywords: Financial Economics, Stock Market, Economic Growth, VAR Model Journal: Revista Internacional Administracion & Finanzas Pages: 29-39 Volume: 10 Issue: 2 Year: 2017 File-URL: http://www.theibfr2.com/RePEc/ibf/riafin/riaf-v10n2-2017/RIAF-V10N2-2017-3.pdf File-Format: Application/pdf Handle: RePEc:ibf:riafin:v:10:y:2017:i:2:p:29-39 Template-Type: ReDIF-Article 1.0 Author-Name: Juan Carlos Alonso Author-Name: Mario Luis Perossa Author-Name: Pablo Waldman Author-Name: Santiago Gigler Title: THE EFFECTS OF INFORMATION ON STOCK INDEXES: THE CONTAGION OF THE 2007/2008 CRISIS FROM THE CORE COUNTRIES TO THE PERIPHERY, EL EFECTO DE LA INFORMACION SOBRE LOS INDICES BURSATILES: LA TRANSFERENCIA DE LA CRISIS 2007/2008 DE LOS PAISES CENTRALES A LA PERIFERIA Abstract: The impact of economic information on global markets puts pressure on prices of various assets. The imact occurs increasingly fast and an effect is realized in other markets. In the present study we analyzed the effects of the 2007/08 crisis originating in the US and its impact on the world. We found that stock markets of France, Spain, Japan, Chile, México and Argentina are highly correlated with the New York Stock Exchange. This occurred mainly in 2008, when the effects of the crisis were more pronounced Classification-JEL: F62, F65, G13, G14 Keywords: Effects of Information, Stock Indexes, Perfect Information, Available Information, Spread of Information Journal: Revista Internacional Administracion & Finanzas Pages: 41-52 Volume: 10 Issue: 2 Year: 2017 File-URL: http://www.theibfr2.com/RePEc/ibf/riafin/riaf-v10n2-2017/RIAF-V10N2-2017-4.pdf File-Format: Application/pdf Handle: RePEc:ibf:riafin:v:10:y:2017:i:2:p:41-52 Template-Type: ReDIF-Article 1.0 Author-Name: Deneb Eli Magana Medina Author-Name: Norma Aguilar Morales Author-Name: Silvia Patricia Aquino Zuniga Title: QUALITY IN HIGHER EDUCATION: PSYCHOMETRIC PROPERTIES OF A MEASUREMENT MODEL, CALIDAD EN LA EDUCACION SUPERIOR: UN MODELO DE MEDICION Abstract: The concept of quality in higher education has become a topic widely debated and on which there is no consensus. The objective of this research was to determine the psychometric properties of a measuring instrument for the concept of quality in higher education. We do this through teachers according to the theoretical model of Harvey and Green, developed by the ECUALE group. We developed the study with a quantitative approach and explanatory non-experimental design. A non-probabilistic sample was selected including 213 professors in the areas of administrative economic and education. The factorial model values obtained from: Chi2 = 33,960, p =. 008; CMIN/DF = 1933; RMSEA =.066 from which we conclude that structural equations model presented an acceptable global fit to the observed data Classification-JEL: I23 Keywords: Psychometric Properties, Quality, Higher Education Journal: Revista Internacional Administracion & Finanzas Pages: 53-66 Volume: 10 Issue: 2 Year: 2017 File-URL: http://www.theibfr2.com/RePEc/ibf/riafin/riaf-v10n2-2017/RIAF-V10N2-2017-5.pdf File-Format: Application/pdf Handle: RePEc:ibf:riafin:v:10:y:2017:i:2:p:53-66 Template-Type: ReDIF-Article 1.0 Author-Name: Alicia Hernandez Bonilla Author-Name: Juana Maria Saucedo Soto Author-Name: Maria de la Luz Rodriguez Garza Author-Name: Bernardo Amezcua Nunez Author-Name: Alicia de la Pena de Leon Author-Name: Ailed Samira Bustillos Quezada Title: TRIPADVISOR: A PLATFORM THAT ALLOWS TO EXPLORE EXPERIENCES AND OPINIONS OF TRAVELERS FROM THE CITY OF SALTILLO, COAHUILA, MEXICO TRIPADVISOR PLATAFORMA QUE PERMITE EXPLORAR EXPERIENCIAS Y OPINIONES DE VIAJEROS DE LA CIUDAD DE SALTILLO, COAHUILA MEXICO Abstract: People are in constant movement and lifestyles have been transformed by technology. Evaluating services and decision making are different now due to social networks and the internet. TripAdvisor is a platform for travelers that shares experiences and opinions around the globe. The use of this platform has been adopted in different sectors and the touristic sector has most beneficiated. This research defines if the platform of TripAdvisor has influence in young travelers in Saltillo City when planning their trips. The sample included 384 people from millennial generation (they spend most of their time on the internet) with 95% confidence level and a 5% margin of error. The results indicate no difference between men and women nor in the age range when grading different services of the platform. The only variable that has influence is income. Results from this research showed that 99% of the young travelers from Saltillo search the internet for trips and more than three quarters of these travelers stated that they used TripAdvisor Classification-JEL: M3 Keywords: Tourism, Internet, Decision Making, Tripadvisor Platform Journal: Revista Internacional Administracion & Finanzas Pages: 67-77 Volume: 10 Issue: 2 Year: 2017 File-URL: http://www.theibfr2.com/RePEc/ibf/riafin/riaf-v10n2-2017/RIAF-V10N2-2017-6.pdf File-Format: Application/pdf Handle: RePEc:ibf:riafin:v:10:y:2017:i:2:p:67-77 Template-Type: ReDIF-Article 1.0 Author-Name: Ramon Sebastian Acle Mena Author-Name: Jessica Yazmín Santos Diaz Author-Name: Abigail Claudio Morales Author-Name: Sandra Yesica Herrera Guzman Author-Name: Norma Angelica Santiesteban Lopez Title: MUSEUMS AS A CULTURAL DETONATOR OF TOURISM IN THE CITY OF PUEBLA LOS MUSEOS COMO POTENCIAL TURISTICO CULTURAL EN PUEBLA Abstract: The current research was done during the vacation period of Holy Week (March 21st –April 01st) of 2016 in the city of Puebla, under the scope of marketing and tourism. The paper focuses on the appearance that Puebla has not taken advantage of its cultural resources causing the city lack standing as a cultural destination in Mexico. The main objective of this paper was to determine the viability of this city to become an option as a cultural destination that includes the visits to museums. The study showed a theoretical framework that allowed explanation in the terms related to: cultural tourism, museums and the city of Puebla. We also designed a specific methodology that allowed a correlation of variables. The results will serve as reference so the tourism sector increases its cultural heritage Classification-JEL: M100, Z320, Z330 Keywords: Cultural Tourism, Museums, City of Puebla Journal: Revista Internacional Administracion & Finanzas Pages: 79-92 Volume: 10 Issue: 2 Year: 2017 File-URL: http://www.theibfr2.com/RePEc/ibf/riafin/riaf-v10n2-2017/RIAF-V10N2-2017-7.pdf File-Format: Application/pdf Handle: RePEc:ibf:riafin:v:10:y:2017:i:2:p:79-92 Template-Type: ReDIF-Article 1.0 Author-Name: German Narvaez Vasquez Author-Name: Cuauhtemoc Guerrero Dávalos Author-Name: Otto Villaprado Chavez Title: COMPETITIVENESS OF HOTEL SECTOR FROM THE THEORY OF RESOURCES AND CAPABILITIES LA COMPETITIVIDAD DEL SECTOR HOTELERO A PARTIR DE LA TEORIA DE LOS RECURSOS Y CAPACIDADES Abstract: This paper aims to identify key skills and resources that determine the competitiveness of hotels in the city of Morelia. It is based on the knowledge of concepts related to core competencies of the sector in Morelia, Michoacan framed the Theory of Resources and Capabilities, claims that the basis of competitive advantage focuses on the internal resources of the company. So, from enhanced contrasts with nonparametric statistical a fairly significant correlation of resources and capabilities to competitiveness was determined, using a sample of 337 hotels in the city of Morelia Classification-JEL: L80, M10 Keywords: Capacity, Resources, Competitiveness, Hotels Journal: Revista Internacional Administracion & Finanzas Pages: 93-105 Volume: 10 Issue: 2 Year: 2017 File-URL: http://www.theibfr2.com/RePEc/ibf/riafin/riaf-v10n2-2017/RIAF-V10N2-2017-8.pdf File-Format: Application/pdf Handle: RePEc:ibf:riafin:v:10:y:2017:i:2:p:93-105