Template-Type: ReDIF-Article 1.0 Author-Name: Migue Angel Latorre Guillem Author-Name: Begona Herrero Piqueras Author-Name: Jose Emilio Farinos Vinas Title: DO ACQUISITIONS GENERATE LONG-TERM RETURNS FOR ACQUIRER COMPANIES?, ¿GENERAN LAS ADQUISICIONES RENDIMIENTOS A LARGO PLAZO PARA LAS EMPRESAS ADQUIRIENTES? Abstract: In this study we extend the previous empirical evidence on the impact that an announcement of acquisition has on the quotes of acquirers traded in the Spanish stock market. If the stock market is efficient, the announcement of an acquisition would be immediately incorporated in the price (quote) both of the target firm and the acquirer, reflecting if the operation generates or destroy value. However, evidence from other markets shows the existence of significant abnormal returns that extend over long periods of time after this sort of events. As the estimation and testing of long-run abnormal returns is under certain controversy we analyse the long-term after performance of a sample of Spanish listed acquirers employing a variety of methods in order to assure the robustness of our results. We find that acquirers gain long–term positive abnormal returns when the acquisition is paid with cash, it is a crossborder acquisition of an unrelated industry target firm, when the target is an unlisted firm and of a related industry. Nevertheless, we do not find significant long-run abnormal performance when we take into account the relative size of the target firm and the leverage Classification-JEL: G14, G34, L33 Keywords: Acquisitions, Listed and Unlisted Targets, Long-Term Abnormal Returns, Value Creation, Spanish Market Journal: Revista Internacional Administraction and Finanzas Pages: 1-18 Volume: 9 Issue: 7 Year: 2016 File-URL: http://www.theibfr2.com/RePEc/ibf/riafin/riaf-v9n7-2016/RIAF-V9N7-2016-1.pdf File-Format: Application/pdf Handle: RePEc:ibf:riafin:v:9:y:2016:i:7:p:1-18 Template-Type: ReDIF-Article 1.0 Author-Name: Nidia Estela Hernandez Castro Author-Name: Zochitl Araiza Garza Author-Name: Edna Isabel de la Garza Martinez Author-Name: Victor Arturo Barboza Alvarez Title: ANALYSIS OF THE DIMENSIONS OF ORGANIZATIONAL LEARNING IN CENTRAL REGION OF COAHUILA ENTERPRISES, ANALISIS DE LAS DIMENSIONES DEL APRENDIZAJE ORGANIZACIONAL EN EMPRESAS DE LA REGION CENTRO DE COAHUILA Abstract: this paper analyzes the dimensions of organizational learning in eight big enterprises from the metalworking industry in the central region of the state of Coahuila. The purpose is to identify if these dimensions have an effect on the development of organizational learning in enterprises. We used the instrument adapted by Mayorca, Ramírez, Viloria and Campos (2007), which consists of 43 items that group seven dimensions of organizational learning. The empirical study was descriptive and correlational. A cross section sample of 415 workers was used at the end of 2014. Both the relationship between these dimensions and the socio-demographic variables of the sample where studied. The study findings reveal statistically significant correlations in seven dimensions. We also found the dimensions of greatest influence in the enterprises central region of Coahuila, were Strategic management, Systems to Capture Learning, Team Learning and Connect to Environment Classification-JEL: L24 Keywords: Organizational Learning, Dimensions of Organizational Learning, Organizations Journal: Revista Internacional Administraction and Finanzas Pages: 19-31 Volume: 9 Issue: 7 Year: 2016 File-URL: http://www.theibfr2.com/RePEc/ibf/riafin/riaf-v9n7-2016/RIAF-V9N7-2016-2.pdf File-Format: Application/pdf Handle: RePEc:ibf:riafin:v:9:y:2016:i:7:p:19-31 Template-Type: ReDIF-Article 1.0 Author-Name: Edgar Armando Chavez-Moreno Author-Name: Randall Ramirez-Loria Author-Name: Maria Virginia Flores-Ortiz Author-Name: Alfonso Vega-Lopez Title: COMPARATIVE STUDY OF THE LEVEL 5 LEADERSHIP MODEL APPLIED TO MANAGING HUMAN TALENT IN PUBLIC ADMINISTRATION OF COSTA RICA, ESTUDIO COMPARATIVO DEL MODELO DE LIDERAZGO NIVEL 5 APLICADO A LA GESTION DEL TALENTO HUMANO EN LA ADMINISTRACION PUBLICA DE TRES MUNICIPALIDADES DE COSTA RICA Abstract: This research presents the results of an assessment using the measuring instrument Level 5 Leadership Collins (2005) to identify the degree of leadership in the public administration of the municipality of Pococí, Guácimo and Siquirres Costa Rica. We use the measuring g instrument to make a comparative study of the three municipalities. We present findings and recommendations to the relevant authorities and propose alternatives or solutions to help improve the performance of departments. Classification-JEL: H760, M120 Keywords: Leadership, Human Talent, Public Service Journal: Revista Internacional Administraction and Finanzas Pages: 33-47 Volume: 9 Issue: 7 Year: 2016 File-URL: http://www.theibfr2.com/RePEc/ibf/riafin/riaf-v9n7-2016/RIAF-V9N7-2016-3.pdf File-Format: Application/pdf Handle: RePEc:ibf:riafin:v:9:y:2016:i:7:p:33-37 Template-Type: ReDIF-Article 1.0 Author-Name: Roman Alberto Quijano Garcia Author-Name: Luis Alfredo Arguelles Ma Author-Name: Fidel Ramon Alcocer Martinez Author-Name: Mario Javier Fajardo Title: GENERATIONAL TRANSITION UNDER THE PERCEPTION OF THE LEADER AND SUCCESSORS OF FAMILY BUSINESSES, TRANSICION GENERACIONAL BAJO LA PERCEPCION DEL LIDER Y LOS SUCESORES DE EMPRESAS FAMILIARES Abstract: To achieve generational transition, studies suggest the necessity of adequate long term planning. However, few businesses decide to design, implement and evaluate strategies that improve their development and business permanence. Several factors, such as the leader´s personality, power structure, business experience and the construction of their own business culture converge to determine the way that family businesses manage and project their future. This investigation is non experimental descriptive, transectional and the instrument used in the work field to obtain data was an interview. The study´s main objective is to identify strategic plans formulated by the businesses and the perception of likely successors regarding generational transition, the factors that affect it and the strategies implemented by family businesses to achieve it. The results indicate that the variables under study respond to the founding associate´s perception regarding to the use of administrative tools and that successors know that an adequate generational transition is part of the continuity and evolution of business life Classification-JEL: M1, M19 Keywords: Strategic Management, Family Protocol, Leadership Journal: Revista Internacional Administraction and Finanzas Pages: 49-64 Volume: 9 Issue: 7 Year: 2016 File-URL: http://www.theibfr2.com/RePEc/ibf/riafin/riaf-v9n7-2016/RIAF-V9N7-2016-4.pdf File-Format: Application/pdf Handle: RePEc:ibf:riafin:v:9:y:2016:i:7:p:49-64 Template-Type: ReDIF-Article 1.0 Author-Name: Martin Romero Castillo Author-Name: Alfonso Cervantes Maldonado Title: ANALYSIS OF EFFECTS OF REGIONAL DISTRIBUTION OF MSMES IN THE STATE OF GUANAJUATO, MEXICO, ANALISIS DE EFECTOS DE LA DISTRIBUCION REGIONAL DE LAS MIPYMES EN EL ESTADO DE GUANAJUATO Abstract: This research is based on analyzing specific characteristics of the spatial distribution of micro, small and medium enterprises (MSMES). We examine the region where they are located and how this affects the economic growth at the regional level in the state of Guanajuato, Mexico. The methodology utilizes empirical analysis, through a survey of 396 MSMES randomly distributed in the regions of the State of Guanajuato, during the period of 2015. The results point towards large differences with regard to geographical aspects, population, economic and financial services among the regions were the MSMES are distributed. The central region, which concentrates two-thirds of the population and 70 per cent of economic activity in the State of Guanajuato, presents the best geographical conditions. It has flat areas and an efficient network of road infrastructure. Conversely, regions of the north and south of the State present great geographical contrasts, with small populations (less than 30% in both), limitations in their infrastructure and lower economic growth. The above differences are attributed to population and economic characteristics and the availability of regional financial institutions. We identify how these regional causes can affect the growth and continuity of MSMES in the State of Guanajuato Classification-JEL: M10, M20, R11 Keywords: Regional Distribution, Funding, MSMES Journal: Revista Internacional Administraction and Finanzas Pages: 65-85 Volume: 9 Issue: 7 Year: 2016 File-URL: http://www.theibfr2.com/RePEc/ibf/riafin/riaf-v9n7-2016/RIAF-V9N7-2016-5.pdf File-Format: Application/pdf Handle: RePEc:ibf:riafin:v:9:y:2016:i:7:p:65-85 Template-Type: ReDIF-Article 1.0 Author-Name: Luis Enrique Valdez Juarez Author-Name: Roberto Limon Ulloa Author-Name: Elva Alicia Ramos Escobar Title: ICT, INNOVATION AND EFFECTS ON COMPETITIVENESS OF SMEs, LAS TIC, LA INNOVACION Y LOS EFECTOS EN LA COMPETITIVIDAD DE LA PYME Abstract: Information and communication technologies (ICT) are a determining factor for innovation activities in small and medium enterprises (SMEs). These have become essential in day-to-day operations of organizations, mainly in corporate strategies and the achievement of competitiveness. The literature indicates that technological tools are generators of economic growth, competitive advantage and organizational growth, both for large corporate and small and medium-sized enterprises (SMEs). In this work, the sample is composed of 100 companies of the industrial sector and services of the city of Guaymas, Sonora (Mexico). The main objective of the work is to analyze the influence that ICT has on innovation as well as innovation influences on the technological competitiveness of SMEs. Statistical analysis is carried out through linear regression by OLS (Ordinary Least Squares). The findings indicate that the infrastructure and operation of ICTs have a positive and significant influence on innovation activities. Innovation results in a positive and significant influence on technological competitiveness in the SME Classification-JEL: O1, O2, O31, O32, O33 Keywords: ICT, Innovation, Competitiveness, SMEs Journal: Revista Internacional Administraction and Finanzas Pages: 87-108 Volume: 9 Issue: 7 Year: 2016 File-URL: http://www.theibfr2.com/RePEc/ibf/riafin/riaf-v9n7-2016/RIAF-V9N7-2016-6.pdf File-Format: Application/pdf Handle: RePEc:ibf:riafin:v:9:y:2016:i:7:p:87-108 Template-Type: ReDIF-Article 1.0 Author-Name: Maricela Carolina Pena Cardenas Author-Name: Adriana Guadalupe Chavez Macias Author-Name: Melisa Yamilet Alarcon Pena Title: THE ORGANIZATIONAL COMMITMENT OF WORKERS IN SMALL BUSINESSES, EL COMPROMISO ORGANIZACIONAL DE LOS TRABAJADORES EN PEQUENAS EMPRESAS Abstract: The commitment of people to the organization is an important asset and is an important element of human resource management. The goal of this paper was to identify the components of two organizational commitment and analyze their relationship in small enterprises in the metal – mechanical industry of Monclova, Coahuila. We examined 120 workers. A structured questionnaire for collection of data was used as developed by Meyer and Allen (1991). The questionnaire was a Likert scale, composed of 21 items which evaluated the Affective Commitment, Continuity and Normative. The analysis of reliability of the questionnaire yields a Coefficient Alpha of Cronbach’s equal to 0.898. Once the data were tabulated, we calculated frequencies, means, contingency coefficients and Significance Levels Classification-JEL: D23, M12 Keywords: Organizational Commitment, Affective Commitment, Commitment to Continuity, Normative Commitment Journal: Revista Internacional Administraction and Finanzas Pages: 109-119 Volume: 9 Issue: 7 Year: 2016 File-URL: http://www.theibfr2.com/RePEc/ibf/riafin/riaf-v9n7-2016/RIAF-V9N7-2016-7.pdf File-Format: Application/pdf Handle: RePEc:ibf:riafin:v:9:y:2016:i:7:p:109-119