Template-Type: ReDIF-Article 1.0
Author-Name: Eduardo Sandoval
Author-Name: Angelo Benvenuto 
Title: ES EL RIESGO CAMBIARIO PRECIADO EN EL MERCADO ACCIONARIO CHILENO? UN ESTUDIO EMPIRICO BASADO EN LA TEORIA DE PRECIOS POR ARBITRAJE
Abstract: Using the approach of Burmeister and McElroy (1988), we jointly estimate the factor sensitivities and risk premia that important macroeconomic surprises have on the stock return generating process in the Chilean equity market, which are assumed generated by the APT. As a new contribution we test whether surprises on the exchange rate are priced and probe the exogeneity of the portfolio excess returns that captures the unobserved surprise factor. The empirical results show evidence in favor of January effect, no rejection of the APT restrictions on the linear factor model, positive and statistically significant risk premia for surprises associated to the relative price of copper-oil, exchange rate (peso-USD, peso-pound, peso-yen) and the Monthly Economic Activity Index growth. A negative and statistically significant risk premia for inflation surprises is found. However, we found mixed results for other exchange rate proxies. Finally the CAPM model is rejected in favor of the APT.
Classification-JEL: G12
Keywords: APT, macroeconomic surprises, exchange rate.
Journal: Revista Internacional Administracion & Finanzas
Pages: 1-27
Volume: 3
Issue: 2
Year: 2010
File-URL: http://www.theibfr2.com/RePEc/ibf/riafin/riaf-v3n2-2010/RIAF-V3N2-2010-1.pdf
File-Format: Application/pdf
Handle: RePEc:ibf:riafin:v:3:y:2010:i:2:p:1-27

Template-Type: ReDIF-Article 1.0
Author-Name: Christian Camilo Vargas R  
Title: CRITERIOS DIFUSOS EN LA SELECCION DE CARTERAS
Abstract: Active portfolio management recognizes the subjective nature of optimal asset distribution in a portfolio. While agent’s interest can guide the selection of optimal asset distribution. There is a gap between optimal assets selection through models that consider market risk and portfolio selection and the agent’s own selection of a portfolio that maximizes his/her expectations. Agents also consider expected return and portfolio risk to investor expectations. This study aims to finds ways to incorporate the investors’ expectation on expected return and portfolio risk.
Classification-JEL: G11, G1, G13, G15
Keywords: indifference curve, efficient frontier, compliance, utility, multivalency.
Journal: Revista Internacional Administracion & Finanzas
Pages: 29-44
Volume: 3
Issue: 2
Year: 2010
File-URL: http://www.theibfr2.com/RePEc/ibf/riafin/riaf-v3n2-2010/RIAF-V3N2-2010-2.pdf
File-Format: Application/pdf
Handle: RePEc:ibf:riafin:v:3:y:2010:i:2:p:29-44

Template-Type: ReDIF-Article 1.0
Author-Name: Ma. Cruz Lozano Ramirez  
Title: INFLUENCIA DE LA COMUNICACIÓN EN LA IMPLEMENTACIÓN DE PROCESOS DE APRENDIZAJE
Abstract: In this paper, 145 top executives in sale and service industries in the State of Aguascalientes, Mexico were interviewed to determine the relationship between communication and learning. The study seeks to indentify how communication influences the learning process. The results suggest that communication do impact the learning process, and that induction and continuous training are important in the achievement of corporate goals.
Classification-JEL: C72, D82, D83
Keywords: training, communication, learning process
Journal: Revista Internacional Administracion & Finanzas
Pages: 45-61
Volume: 3
Issue: 2
Year: 2010
File-URL: http://www.theibfr2.com/RePEc/ibf/riafin/riaf-v3n2-2010/RIAF-V3N2-2010-3.pdf
File-Format: Application/pdf
Handle: RePEc:ibf:riafin:v:3:y:2010:i:2:p:45-61

Template-Type: ReDIF-Article 1.0
Author-Name: Angelica Ivonne Enriquez Perez
Author-Name:  Jorge Hernandez Palomino
Title: DESARROLLO DE HABILIDADES DE INTELIGENCIA EMOCIONAL CON TECNICAS ERICKSONIANAS.
Abstract: In this study, Ericksonian Technique are used to measure emotional intelligence in industrial engineering students in technological institutes in Mexico. A sample of 24 students were asked to voluntarily participate in this study and an experimental group and a control group were created. The experimental group was introduced to Ericksonian techniques and their test performance was analyzed using the Copper Emotional intelligence test. The results suggest that there is as significant relationship between Ericksonian growth and utilization of emotional intelligence.
Classification-JEL: A10
Keywords: Emotional Intelligence, Ericksonian techniques, teaching, higher education
Journal: Revista Internacional Administracion & Finanzas
Pages: 63-73
Volume: 3
Issue: 2
Year: 2010
File-URL: http://www.theibfr2.com/RePEc/ibf/riafin/riaf-v3n2-2010/RIAF-V3N2-2010-4.pdf
File-Format: Application/pdf
Handle: RePEc:ibf:riafin:v:3:y:2010:i:2:p:63-73

Template-Type: ReDIF-Article 1.0
Author-Name: Lucila Zarraga Cano
Author-Name: Enrique Corona Sandoval 
Title: LAS EXPECTATIVAS DE LOS TURISTAS CUANDO CONTRATAN LOS SERVICIOS DE LOS GUIAS DE TURISTAS: UN ENFOQUE CUALITATIVO
Abstract: In this study, tourist’s perception of tour guide’s service in Cancun is analyzed. The study seeks to determine the variables that impact the overall perception of quality when a tourist hires the service of a tour guide. 400 tourists were asked to complete a 23 –question survey during the high season of 2009 in Cancun. The Cronbach's alpha was used to measure the coefficient of reliability , and the Kaiser-Meyer- Olkin model was used to assess the appropriateness of using factor analysis on the data. The results suggests that when it comes to tangible variables, uniform, and affiliation are relevant. As per knowledge-based variables, knowledge about the subject, language competency, ability to clearly answer questions, and friendliness are relevant
Classification-JEL: J21, J23, M31, M54
Keywords: tourism industry, tour guides, expectations, competitive advantages
Journal: Revista Internacional Administracion & Finanzas
Pages: 75-89
Volume: 3
Issue: 2
Year: 2010
File-URL: http://www.theibfr2.com/RePEc/ibf/riafin/riaf-v3n2-2010/RIAF-V3N2-2010-5.pdf
File-Format: Application/pdf
Handle: RePEc:ibf:riafin:v:3:y:2010:i:2:p:75-89

Template-Type: ReDIF-Article 1.0
Author-Name: Omaira Cecilia Martinez Moreno
Author-Name: Jose Gabriel Ruiz Andrade
Author-Name: Maria Guadalupe Velazquez Romero 
Title: OFERTA Y COMPETITIVIDAD TURISTICA DEL POBLADO DE POPOTLA Y SU IMPACTO EN EL DESARROLLO LOCAL
Abstract: Mexico enjoys a strong tourism industry, which contributes significantly to the nation’s economic development. The diversity of its natural and cultural resources appeals to a wide range of visitors. Some areas in Mexico are more developed than others. In this study, Popotla, Rosarito is analyzed to determine its potential as a sustainable tourism destination. The Secretary of Tourism (SECTUR) methodology is used to conduct the study. The results suggest that Popotla has the potential to become a competing tourist destination. The study also suggests that infrastructure and use of resources need improvement in order to develop Popotla as a tourist destination. Suggestions and recommendations for future research are provided
Classification-JEL: O18, M31, M38
Keywords: tourism, economic development, government policy, Popotla
Journal: Revista Internacional Administracion & Finanzas
Pages: 91-102
Volume: 3
Issue: 2
Year: 2010
File-URL: http://www.theibfr2.com/RePEc/ibf/riafin/riaf-v3n2-2010/RIAF-V3N2-2010-6.pdf
File-Format: Application/pdf
Handle: RePEc:ibf:riafin:v:3:y:2010:i:2:p:91-102

Template-Type: ReDIF-Article 1.0
Author-Name: Virginia Guadalupe Lopez Torres
Author-Name: Ma. Enselmina Marin Vargas
Author-Name: Robert Efrain Zarate Cornejo 
Title: RIESGOS DE TRABAJO EN UNA PLANTA MAQUILADORA: UN ANALISIS LONGITUDINAL
Abstract: Occupational safety and work accidents are a major concern in the maquiladora industry. Businesses are required by law to follow safety and health legislation. Due to the nature of maquiladoras in Mexico, manufactures must closely monitor accident occurrences and compliance in order to reduce insurance and production costs. During the period 2006-2008, a Mexico maquiladora experienced a higher than normal number of incapacitating work related accidents. The study seeks to determine which factors contributed the increased number of incidents and to provide strategies to reduce accident occurrence. Statistical tests and the Ishikawa diagram were used in the analysis. The results suggests that workers negligence, insufficient training, and working physical conditions such as noise exceeding 90 decibels, and illumination contributed to the increase in work accidents
Classification-JEL: J3, J28, D24
Keywords: occupational safety, production costs, Ishikawa diagram
Journal: Revista Internacional Administracion & Finanzas
Pages: 103-115
Volume: 3
Issue: 2
Year: 2010
File-URL: http://www.theibfr2.com/RePEc/ibf/riafin/riaf-v3n2-2010/RIAF-V3N2-2010-7.pdf
File-Format: Application/pdf
Handle: RePEc:ibf:riafin:v:3:y:2010:i:2:p:103-115

Template-Type: ReDIF-Article 1.0
Author-Name: Francisco Jose May Hernandez  
Title: LA EFECTIVIDAD DEL PLAN NACIONAL DE FRANQUICIAS PARA LAS MIPYME EN MEXICO, CASO MUNICIPIO BENITO JUAREZ, QUINTANA ROO
Abstract: Extensive research is available on the economic and social impact of small and medium size business (MiPyMe) in developed and developing nations. In Mexico, small and medium size businesses (MiPyMe) rely more and more on franchises to create new jobs, and provide economic development. The Mexican Plan Nacional de Franquicias estimates that nine out of 10 small to medium size business will operate under a franchise by 2020. Little research exists about survival rate of MiPyMe operating under a franchise, government support for MiPyMe franchises, and tax implications. This study seeks to shed some light in the current and future condition of franchises and MiPyMe
Classification-JEL: K00, O32, E62, H25
Keywords: Franchise, trade, economic development, small and medium size businesses
Journal: Revista Internacional Administracion & Finanzas
Pages: 117-130 
Volume: 3
Issue: 2
Year: 2010
File-URL: http://www.theibfr2.com/RePEc/ibf/riafin/riaf-v3n2-2010/RIAF-V3N2-2010-8.pdf
File-Format: Application/pdf
Handle: RePEc:ibf:riafin:v:3:y:2010:i:2:p:117-130

Template-Type: ReDIF-Article 1.0
Author-Name: Celsa Guadalupe Sanchez Velez
Author-Name:  Maria Eugenia Corella Torres
Title: LA PARTICIPACION DE LA BANCA COMERCIAL EN LAS MICROFINANZAS: EL CASO DE AMERICA LATINA
Abstract: El crecimiento del microfinanciamiento en el mundo durante las últimas décadas ha revolucionado los esquemas financieros tradicionales al demostrar que efectivamente puede contribuir al impulso de micronegocios y, en algunos casos, se ha probado que puede coadyuvar en el combate a la pobreza. El éxito de Instituciones Microfinancieras (IMF) sustentables, y en muchos casos con altas tasas de rentabilidad, está despertando el interés de intermediarios financieros tradicionales que ven una atractiva oportunidad de inversión en este sector. Existe una gran preocupación de que se privilegie la visión comercial, y se pierda paulatinamente el enfoque social de las microfinanzas. El objetivo del trabajo es profundizar en el conocimiento del modelo comercial de microfinanzas en América Latina y el Caribe, a través del estudio de los principales bancos de la región enfocados a este sector. En el documento se realiza un análisis comparativo, desde el punto de vista financiero y operativo, para identificar las tendencias de la banca en la región, y de esta manera contribuir con elementos objetivos en la discusión sobre si el desarrollo del modelo comercial implica abandonar la función social de las microfinanzas, o si es posible que instituciones con fines de lucro, además de ser rentables, puedan coadyuvar en la lucha contra la pobreza
Classification-JEL: 
Keywords: microfinanzas, banca comercial, rentabilidad, función social
Journal: Revista Internacional Administracion & Finanzas
Pages: 131-147
Volume: 3
Issue: 2
Year: 2010
File-URL: http://www.theibfr2.com/RePEc/ibf/riafin/riaf-v3n2-2010/RIAF-V3N2-2010-9.pdf
File-Format: Application/pdf
Handle: RePEc:ibf:riafin:v:3:y:2010:i:2:p:131-147