Publicaciones e Investigación: Envíos recientes

Mostrando ítems 41-60 de 298

    • Empresariado en Colombia : perspectiva histórica y regional 

      Correa Restrepo, Juan Santiago (Routledge, 2014)

    • Testing contagion with propensity matching estimators : a three country empirical example 

      Cayón Fallon, Edgardo; Sarmiento Sabogal, Julio Alejandro (EuroJournals, 2014)
      We analyse the effect of the Global Financial Crisis (GFC) on portfolios of USD denominated sovereign bonds. We use propensity matching estimators in order to measure the average difference in the volatility of sovereign ...

    • Family involvement and dividend policy in closely held firms 

      González Ferrero, Maximiliano; Guzmán Vásquez, Alexander; Pombo Vejarano, Carlos; Trujillo Dávila , María Andrea (Sage Publications Inc, 2014-06-11)
      This article examines the effects of family involvement on dividend policy in closely held firms that face agency problems involving majority?minority shareholders. We argue that minority shareholders press for dividends ...

    • Internet-based corporate disclosure and market value : evidence from Latin America 

      Garay, Urbi; González Ferrero, Maximiliano; Guzmán Vásquez, Alexander; Trujillo Dávila , María Andrea (Elsevier BV, 2013-12)
      We examine the relationship between an Internet-based corporate disclosure index and firm value in the seven largest stock markets of Latin America. We find, after controlling for firms' characteristics, industry and country ...

    • Family firms and debt : risk aversion versus risk of losing control 

      González Ferrero, Maximiliano; Guzmán Vásquez, Alexander; Pombo Vejarano, Carlos; Trujillo Dávila , María Andrea (Elsevier Inc., 2013-11)
      This study examines the effect of family management, ownership, and control on capital structure for 523 Colombian firms between 1996 and 2006. The study finds that debt levels tend to be lower for younger firms when the ...

    • A relationship between the ordinary maximum entropy method and the method of maximum entropy in the mean 

      Gzyl, Henryk; ter Horst, Enrique (MDPI AG, 2014-02-24)
      There are two entropy-based methods to deal with linear inverse problems, which we shall call the ordinary method of maximum entropy (OME) and the method of maximum entropy in the mean (MEM). Not only does MEM use OME as ...

    • Financial autarchy as contagion prevention : the case of colombian pension funds 

      Cayón Fallon, Edgardo; Thorp, Susan (Routledge, 2014-12-05)
      Regulations restricting investment by pension funds in high-risk and foreign assets may quarantine member accounts from contagious transmissions during financial crises. We analyze contagion from U.S. equity markets to ...

    • Comment on article by Windle and Carvalho 

      ter Horst, Enrique; Molina, Germán (International Society for Bayesian Analysis, 2014)
      The article by Windle and Carvalho introduces a fast update procedure for covariance matrices through the introduction of higher frequency sources of information for the underlying process, demonstrated with a financial ...

    • Governance of family firms 

      Villalonga, Belén; Amit, Raphael; Trujillo Dávila , María Andrea; Guzmán Vásquez, Alexander (Annual Reviews, 2015)
      We review what the financial economics literature has to say about the unique ways in which the following three classic agency problems manifest themselves in family firms: (a) shareholders versus managers, (b) controlling ...

    • A Bayesian Beta Markov Random Field calibration of the term structure of implied risk neutral densities 

      Casarin, Roberto; Leisen, Fabrizio; Molina, Germán; ter Horst, Enrique (International Society for Bayesian Analysis, 2015-12)
      We build on the derivative pricing calibration literature, and propose a more general calibration model for implied risk neutral densities. Our model allows for the joint calibration of a set of densities at different ...

    • The role of family involvement on CEO turnover : evidence from colombian family firms 

      González Ferrero, Maximiliano; Guzmán Vásquez, Alexander; Pombo Vejarano, Carlos; Trujillo Dávila , María Andrea (Wiley-Blackwell Publishing Ltd, 2015)
      Manuscript Type Empirical Research Question/Issue We analyze CEO turnover in closely held firms with some level of ownership dispersion in a context of low investor protection. In particular, we examine the impact of ...

    • Application of the method of maximum entropy in the mean to classification problems 

      Gzyl, Henryk; ter Horst, Enrique; Molina, Germán (Elsevier BV, 2015-11-01)
      In this note we propose an application of the method of maximum entropy in the mean to solve a class of inverse problems comprising classification problems and feasibility problems appearing in optimization. Such problems ...

    • A test of the market efficiency of the Integrated Latin American Market (MILA) index in relation to changes in the price of oil 

      Hernández Gamarra, Katerin; Sarmiento Sabogal, Julio Alejandro; Cayón Fallon, Edgardo (Econjournals, 2015-04-16)
      The purpose of this paper is to study if there is a Granger causality relationship between the price of oil and the prices of the stocks that compose the Integrated Latin American Market (MILA) Index. Our analysis found ...

    • A spectral measure estimation problem in rheology 

      Gzyl, Henryk; ter Horst, Enrique; Molina, Germán (Elsevier BV, 2015-09-15)
      In this paper we consider an inverse problem appearing in rheology, consisting of determining a spectral measure over the set of relaxation times, that yields an observed collection of loss and storage moduli. Mathematically ...

    • Bayesian inference for a structural credit risk model with stochastic volatility and stochastic interest rates 

      Rodríguez, Abel; ter Horst, Enrique; Malone, Samuel W. (Oxford University Press, 2015)
      We develop a novel structural credit risk model that extends the original Merton model by allowing for stochastic interest rates and stochastic volatility. The model is estimated using Bayesian methods implemented via a ...

    • Imagen país de Colombia desde la perspectiva extranjera 

      Echeverri Cañas, Lina María; ter Horst, Enrique; Parra Sánchez, José Hernán (Consejo Superior de Investigaciones Científicas (CSIC). Departamento de Publicaciones, 2015)
      Colombia es un país con un posicionamiento histórico negativo en mercados internacionales. Si bien los gobiernos y los prescriptores han dedicado esfuerzos por mejorarla, la percepción del extranjero se mantiene polarizada, ...

    • The effects of the global financial crisis on the colombian local currency bonds prices : an event study 

      Cayón Fallon, Edgardo; Sarmiento Sabogal, Julio Alejandro; Shukla, Ravi K. (Emerald Publishing Limited, 2016-09-12)
      Purpose The purpose of this paper is to perform an event study using high frequency data on peso-denominated Colombian government bonds to measure the effects of news during the global financial crisis (GFC). Design/ ...

    • Admission criteria for MBA programs : a review 

      Dakduk, Silvana; Malavé, José; Torres, Carmen Cecilia; Montesinos Yufa, Hugo M.; Michelena, Laura (Sage Publications, Inc., 2016-11-01)
      This paper reports a review of studies on admission criteria for MBA programs. The method consisted in a literary review based on a systematic search in international databases (Emerald, ABI/INFORM Global, ProQuest Education ...

    • Elasticidades de demanda de un medicamento antidepresivo en Colombia como estrategia para evaluar poder de mercado 

      Cadena Lozano, Javier Bernardo; Ariza Garzón, Miller Janny; Pulido Cruz, Carlos Gerardo (Pontificia Universidad Javeriana, 2017-01-19)
      En este artículo se desarrolló un ejercicio de estimación de la elasticidad precio de la demanda de un medicamento “tipo” utilizado para el tratamiento de la depresión. Este trastorno afecta física y mentalmente a un gran ...

    • A test of the efficient market hypothesis with regard to the exchange rates and the yield to maturity in Colombia 

      Sarmiento Sabogal, Julio Alejandro; Hatemi J., Abdulnasser; Cayón Fallon, Edgardo (World Scientific and Engineering Academy and Society (WSEAS), 2016)
      This article investigates the informational efficiency of the Colombian stock market with regard to the information contained in the exchange rates as well as the yield to maturity. Since the underlying data is non-normal ...