Publicaciones e Investigación: Recent submissions
Now showing items 61-80 of 316
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Family involvement and dividend policy in closely held firms
(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
(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
(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
(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
(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
(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
(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
(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
(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
(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
(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 ... -
Bayesian inference for a structural credit risk model with stochastic volatility and stochastic interest rates
(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
(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, ... -
A spectral measure estimation problem in rheology
(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 ... -
The effects of the global financial crisis on the colombian local currency bonds prices : an event study
(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
(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
(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
(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 ... -
Ferrocarriles y soberanía : el ferrocarril de Panamá, 1850-1903
(Instituto de Investigaciones Dr. José María Luis Mora, 2015-05-01)Este artículo estudia el proceso de construcción y operación del Ferrocarril de Panamá, el cual se constituyó como un proyecto pionero en el desarrollo ferroviario colombiano a mediados del siglo xix, brindando los ... -
Determinants of successful internationalisation processes in business schools
(Routledge, 2017-05-18)We analyse the internationalisation process in business schools as a response to the globalisation phenomena and argue that environmental pressures, isomorphic forces, the pool of internal resources and the alignment of ...