Patrones de supervivencia para la gestión de los centros especiales de empleo

Sheltered Employment Centers (CEEs) are profitable firms that contract workers with disability to prepare them for incorporation in society. Due to their growth, competitiveness in the labor market and work in the framework of the social economy, these companies have attracted some interest recently. However, these enterprises have to face great challenges because they have to be competitive in the market in order to guarantee their survival.The objective of this paper is to analyze the survival of the Sheltered Employment Centers, to ascertain the key variables that condition their continuity in the market, or otherwise, their business failure. The initial sample is the total number of CEEs in Spain, 1.668 firms. The financial statements of all were extracted from 2013, the last period available. Then, the all CEEs were classified in tree groups (healthy, doubtful and distressed), according to their Altman Z’-score. A method of artificial intelligence (algorithm C 4.5) was used in order to obtain the basic patterns of each of the groups. The main contribution of this study is that we can know which CEEs survive with the ratios of debts over net sales, return on assets, and quick ratio and which one will have more difficulties to stay in the market. Moreover, the artificial intelligence methodology used is a new approach compared to traditional statistical techniques.  Los Centros Especiales de Empleo (CEEs) son empresas rentables que contratan a trabajadores con discapacidad para su normalización en la sociedad. Debido a su crecimiento, competitividad en el mercado de trabajo y a la labor que están desempeñando en el marco de la economía social, estas empresas han suscitado interés recientemente. Sin embargo, los CEEs se enfrentan a un gran desafío y es que deben ser competitivos en el mercado para garantizar su supervivencia.  El objetivo de este estudio es analizar la supervivencia de los CEEs españoles, determinando cuáles serían las variables clave que condicionan su continuidad en el mercado, o por el contrario, su fracaso empresarial. La muestra inicial es la totalidad de los CEEs de España, 1.668 empresas. Se recogió la información de sus estados financieros durante el último año disponible. A continuación se clasificaron los CEEs en tres grupos (sanos, dudosos y con elevadas probabilidades de insolvencia) en función de la puntación obtenida al utilizar el Z- score de Altman. Después, se elaboró un modelo de Inteligencia Artificial (algoritmo C4.5) para modelizar las características básicas de los CEEs de los tres grupos anteriormente mencionados. La principal contribución de este estudio es que con los ratios de deudas sobre ventas netas, la rentabilidad económica y el test ácido podemos predecir qué CEEs sobrevivirán y cuáles tendrán más dificultades para mantenerse en el mercado. Además, la metodología IA utilizada aporta un enfoque distinto al tradicional usando técnicas estadísticas. ABSTRACT Sheltered Employment Centers (CEEs) are profitable firms that contract workers with disability to prepare them for incorporation in society. Due to their growth, competitiveness in the labor market and work in the framework of the social economy, these companies have attracted some interest recently. However, these enterprises have to face great challenges because they have to be competitive in the market in order to guarantee their survival.The objective of this paper is to analyze the survival of the Sheltered Employment Centers, to ascertain the key variables that condition their continuity in the market, or otherwise, their business failure. The initial sample is the total number of CEEs in Spain, 1.668 firms. The financial statements of all were extracted from 2013, the last period available. Then, the all CEEs were classified in tree groups (healthy, doubtful and distressed), according to their Altman Z’-score. A method of artificial intelligence (algorithm C 4.5) was used in order to obtain the basic patterns of each of the groups. The main contribution of this study is that we can know which CEEs survive with the ratios of debts over net sales, return on assets, and quick ratio and which one will have more difficulties to stay in the market. Moreover, the artificial intelligence methodology used is a new approach compared to traditional statistical techniques. &nbsp

Research on Innovation and Strategic Risk Management in Manufacturing Firms

Chinese manufacturing companies in Bangladesh are committed to achieving optimal investment policy for investors in different industries. The purpose of this research is the strategic risk assessment; where the research approach involves collecting qualitative data through questionnaire survey and compute variables with programmed Rough Set Theory. Researchers have identified a set of key internal and external strategic uncertainties and also accessed the most important attributes from strategic risks. Here, Sector regulation, changing the tax law and organizational governance as the most degree of risk factors in strategic risk analysis. Overall, the focus of our research is to identify strategic risk attributes and proposed a risk assessment framework by demonstrating empirical study analysis of specific industries in Bangladesh those are directly invested by Chinese investors

La viabilidad económico-financiera de los centros especiales de empleo

Tesis de la Universidad Complutense de Madrid, Facultad de Ciencias Económicas y Empresariales, leída el 27/06/2017The main objective of this thesis is the economic and financial analysis of the Sheltered Employment Centers (CEEs) from Spain. The CEEs are profitable companies that recruit people with disabilities and this fact is their differentiating aspect in relation to other companies in the market. After a depth literature review, we have found that there are few studies about this type of companies and scant information about their economic and financial viability. There are two main theoretical criticisms which underpin the management of these companies: public subsidies are what determine its economic viability and that the poor professionalization of their managers calls into question its profitability in an unprotected market. Based on these two criticisms, this study aims to show whether they are consistent from an empirical point of view. The main objective of this thesis is divided into six specific objectives, which are the following ones: First objective of this thesis: to study the importance of CEEs for society and especially for people with disabilities. For this, descriptive analysis of CEEs according to their evolution, legal form, location, size and sector of activity are done. Second objective of this study: to analyse the survival of the CEEs, determining which would be the key variables affecting their survival in a competitive market or on the contrary their failure. Third objective of the study: to investigate if the profitability of the CEEs depends on public subsidies received for the labour integration of people with disabilities. CEEs with and without public subsidies are evaluated...El objetivo principal de esta tesis doctoral es el análisis económico-financiero de los Centros Especiales de Empleo (CEEs) de España. Los CEEs son empresas productivas que tienen como aspecto diferenciador, en relación a otras empresas del mercado, la contratación de personas con discapacidad. Después de una profunda revisión bibliográfica hemos constatado que no existen estudios detallados que analicen la viabilidad económico-financiera de todos los CEEs en España. Debido a la crisis económica, muchas de estas empresas están viendo reducidas sus ayudas públicas y, a pesar de las constricciones del mercado, siguen funcionando y creciendo. Nos preguntamos cuáles son las claves de su supervivencia mientras cada año entran en proceso concursal miles de empresas de todos los sectores. Desde un punto de vista teórico, hay dos críticas principales sobre la gestión de estas empresas: primero que las subvenciones públicas son las que determinan la viabilidad económica de los CEEs y segundo que la baja profesionalización de la gestión puede poner en duda su rentabilidad. Sobre la base de estas dos críticas, el objetivo principal de este estudio este estudio se divide en seis objetivos específicos, que son los siguientes: Primer objetivo de esta tesis: estudiar la relevancia de los CEEs en la sociedad y en la economía actual así como en la literatura académica. Para ello se realiza un análisis descriptivo de este tipo de empresas según su evolución, forma jurídica, localización, tamaño y sector de actividad, además de una revisión de la literatura. Segundo objetivo de este estudio: analizar la supervivencia de los CEEs, determinando cuáles serían las variables clave que condicionan su supervivencia en el mercado competitivo o por el contrario su fracaso. Tercer objetivo de esta tesis: analizar si la rentabilidad de los CEEs depende de las ayudas públicas recibidas para la integración laboral de las personas con discapacidad. Para conseguir este objetivo se analizan diferentes CEEs con y sin ayudas públicas...Fac. de Ciencias Económicas y EmpresarialesTRUEunpu