Ownership governance practices and their influence on family businesses financial performance

Ownership was usually a system implicitly assumed in the dynamics of company management, but it deserved more attention than a periodic control in the yearly general shareholder´s assembly. Empowerment of owners was required given the magnitude of decisions made in terms of capital and business purpose, and not just delegating it to the Board or the CEO. Despite the relevance of the topic, a gap was identified in the literature of corporate governance in family business from the ownership dimension. This longitudinal study used a quantitative approach with an explanatory scope that which sought to answer the question: Do shareholders corporate governance practices and family control influence financial performance on businesses? 104 public companies were analyzed and 36.5% of them were identified as family businesses, data were used from National Registry of Values and Issuers, which also responded the country Code 'survey of Colombia in the period 2008 to 2014. Data was processed with Student's t test and Random Effects analysis as a panel data technique. Results shown that family and non-family businesses had significant differences in ownership governance practices, but no significant relationship were identified between corporate governance practices of shareholders or family control with financial performance. The theoretical contribution to the areas of corporate governance and family business was to opening a new scenario for the study of ownership governance; the practical contribution was giving rise to the design of a model of practices for shareholders, where they develop a more active role in terms of capital and strategy decisions that exceeded the decision limits of the Board of Directors; Finally, a contribution in public policy was created by supporting the need to highlight corporate governance practices at the owners level, with models that differentiate Family Business and others.La propiedad era generalmente un sistema implícito en la dinámica de la gestión de la empresa, pero merecía más atención que un control periódico en la asamblea general anual de accionistas. Se requería el empoderamiento de los propietarios dada la magnitud de las decisiones tomadas en términos de capital y propósito comercial, y no solo delegarlo en la Junta o el CEO. A pesar de la relevancia del tema, se identificó una brecha en la literatura de gobierno corporativo de la empresa familiar desde la dimensión de propiedad. Este estudio longitudinal utilizó un enfoque cuantitativo con un alcance explicativo que buscaba responder a la pregunta: ¿Las prácticas de gobierno corporativo de los accionistas y el control familiar influyen en el desempeño financiero de las empresas? Se analizaron 104 empresas públicas y el 36,5% de ellas se identificaron como empresas familiares, se utilizaron datos del Registro Nacional de Valores y Emisores, que también respondió a la encuesta del Código de país de Colombia en el período 2008 a 2014. Los datos se procesaron con la prueba t de Student y análisis de efectos aleatorios como técnica de datos de panel. Los resultados mostraron que las empresas familiares y no familiares tenían diferencias significativas en las prácticas de gobierno de propiedad, pero no se identificaron relaciones significativas entre las prácticas de gobierno corporativo de los accionistas o el control familiar con el desempeño financiero. La contribución teórica a las áreas de gobierno corporativo y empresa familiar fue abrir un nuevo escenario para el estudio del gobierno de propiedad; la contribución práctica fue dar lugar al diseño de un modelo de prácticas para los accionistas, donde desarrollen un papel más activo en términos de decisiones de capital y estrategia que exceden los límites de decisión de la Junta de Directiva; Finalmente, se creó una contribución en las políticas públicas al apoyar la necesidad de resaltar las prácticas de gobierno corporativo a nivel de los propietarios, con modelos que diferencien a las empresas familiares y otras.Tesi

A transição venezuelana na era pós-chavista: os desafios em matéria de segurança hemisférica

Venezuela is regarded today as the center of hemispheric attention, both for the complex humanitarian crisis to which the population is subjected and for having a government that protects and sponsors criminal and terrorist organizations. This complicates the project of political transition to democracy set up by the national democratic sector. Recent history shows that criminal organizations adapt easily to new political realities, becoming a first-order nontraditional threat. Therefore, this project should not be considered a task of the Venezuelan democratic sectors only since, within the framework of regional security, the international community has the same level of prominence in it.Venezuela es considerada hoy día un caso de atención hemisférica, tanto por la crisis humanitaria compleja a la que está sometida la población, como por la presencia de un Gobierno que ampara y patrocina a organizaciones criminales y terroristas; con ello complica el proyecto de transición política hacia la democracia planteado por el sector democrático nacional. La historia reciente muestra que las organizaciones criminales se adaptan con facilidad a las nuevas realidades políticas, convirtiéndose en una amenaza no tradicional de primer orden; en ese sentido, el proyecto de transición política hacia la democracia no debe considerarse únicamente como una labor exclusiva de los sectores democráticos venezolanos; en ella tiene igual nivel de protagonismo la comunidad internacional en el marco de la seguridad regional.A Venezuela é considerada hoje um caso de atenção hemisférica, tanto pela crise humanitária complexa a que a população está submetida quanto pela presença de um governo que ampara e patrocina organizações criminais e terroristas. Com isso, complica-se o projeto de transição política a uma democracia proposta pelo setor democrático nacional. A história recente mostra que as organizações criminais são adaptadas com facilidade às novas realidades políticas, convertendo-se em uma ameaça não tradicional de primeira ordem. Nesse sentido, o projeto de transição política à democracia não deve ser considerado unicamente como um trabalho exclusivo dos setores democráticos venezuelanos; nele, a comunidade internacional tem o mesmo nível de protagonismo no âmbito da segurança regional

Dynamic Price Competition: Theory and Evidence from Airline Markets

We introduce a model of dynamic pricing in perishable goods markets with competition and provide conditions for equilibrium uniqueness. Pricing dynamics are rich because both own and competitor scarcity affect future profits. We identify new competitive forces that can lead to misallocation due to selling units too quickly: the Bertrand scarcity trap. We empirically estimate our model using daily prices and bookings for competing U.S. airlines. We compare competitive equilibrium outcomes to those where firms use pricing heuristics based on observed internal pricing rules at a large airline. We find that pricing heuristics increase revenues (4-5%) and consumer surplus (3%)

A Novel Binaural Audio Device for Cross-Platform Situational Awareness and Recall

The goal is to create a lightweight integrated device consisting of a small camera, binaural microphones, a head orientation tracker, and a GPS unit mounted onto a pair of glasses. The device will allow the user to capture and record audio and video in the same manner that it was experienced organically by the user. This is enabled by the glasses-mounted camera and the small profile binaural microphones, which sit inside the ear without blocking the eardrum. The head orientation tracker and GPS unit are attached to the glasses and record positioning and orientation of the user for realistic playback. A Raspberry Pi will be used as the microcontroller for data retrieval and processing. Connections are made between the components on the chassis, and data are compiled and synchronized. Further, an Android device, web server, and SQL database will be used for storage and playback of the captured data. There are many applications and uses for such a device. In military training situations, realistic audio and video captured from a first-person perspective can be used to create the best training simulations where the recorded data could be played back during training. This methodology would provide the most realistic scenarios, as each person would hear and see the video exactly as if they experienced it firsthand. In a combat scenario, the recorded audio could be transmitted between soldiers so that each soldier knows the relative position and environment of every other soldier. Further, the device can assist users that struggle with short-term memory loss, a common side-effect of a large swath of medical conditions. If the user is having difficulties remembering a situation that happened, they can use their Android device to easily playback the recorded environment to assist them in remembering the details

Propiedades mecánicas de Recubrimientos de Ti-Si-N sintetizado por pulverización catódica reactiva

 Ti-Si-N coatings were deposited by DC reactive magnetron sputtering on stainless steel AISI 304 substrates varying the N2 flow, in order to study the effect on the structural, mechanical and tribological properties. The coatings were deposited using a 99.999 % purity Ti-Si (90- 10 at. %) target. Structural characterization was performed by X-ray diffraction (XRD), observing peaks corresponding to crystalline TiN. As there is no evidence of the formation of the Ti-Si-N , Ti-Si, Ti or Si free phases, it was determined that the compound consists of TiN crystal grains in an amorphous matrix of SiN. This result is supported by FTIR and EDS analysis. The mechanical properties were studied by nanoindentation, obtaining hardness values of approximately 23 GPa when low N2 flows were used. Se depositaron recubrimientos de Ti-Si-N mediante DC Magnetrón Sputtering reactivo, sobre sustratos de acero inoxidable AISI 304, variando el flujo de N2, con el fin de estudiar su efecto en las propiedades estructurales, mecánicas y tribológicas. Los recubrimientos se depositaron utilizando un blanco de Ti-Si (90-10 % at.) con 99,999% de pureza. La caracterización estructural se realizó por medio de Difracción de Rayos X (XRD), con lo cual se encontraron los picos correspondientes a cristalitos de TiN. Al no encontrar evidencias de la formación de las fases Ti-Si-N, Ti-Si, Ti o Si libre, se determinó que el compuesto está formado por granos cristalinos de TiN en una matriz amorfa de SiN. Dicho resultado está apoyado en análisis realizados por FTIR y EDS. Las propiedades mecánicas fueron estudiadas por medio de nanoindentación, obteniendo valores de dureza alrededor de 23 GPa cuando se utilizan bajos flujos de N2

Ownership Governance Practices and their Influence on Family Businesses Financial Performance

Ownership is usually a system assumed implicit in the dynamics of management of enterprises, but it actually deserves more attention than a periodic control in the yearly general shareholder´s assembly. Empowerment of owners is required given the magnitude of decisions they make in terms of capital and business purpose, and not just delegate it to the Board or the CEO. Despite the relevance of the topic, there is a gap in the literature of corporate governance in family business from the ownership dimension. This longitudinal study uses a quantitative approach with an explanatory scope that pretends to answer the question: Do shareholders corporate governance practices and family control influence financial performance on businesses? 104 public companies were analyzed and 36.5% of them were identified as family businesses, using data from National Registry of Values and Issuers, which also responded the country Code 'survey of Colombia in the period 2008 to 2014. Data was processed with student's t test and Random Effects analysis that is a panel data technique. Results shown that family and non-family businesses have significant differences in ownership governance practices, but no significant relationship were identified between corporate governance practices of shareholders or family control with financial performance. Keywords: shareholders, ownership, corporate governance, practices, family business, financial performance JEL Classifications:  G30, G34, L25 DOI: https://doi.org/10.32479/ijefi.917

Análisis del recaudo y destinación específica de los recursos obtenidos por las multas impuestas a los contraventores del Código Nacional de Seguridad y Convivencia Ciudadana (ley 1801 de 2016) en la ciudad de Pereira, Risaralda

Analizar la gestión del recaudo y la destinación específica de los recursos obtenidos por las multas impuestas a los contraventores del Código Nacional de Seguridad y Convivencia Ciudadana (ley 1801 de 2016) en la ciudad de Pereira, RisaraldaPara las organizaciones públicas es importante tener en cuenta la correcta implementación de los procesos nuevos basados en la ley y más aún cuando se trata de un ingreso corriente nuevo que surge de una renta nueva sin incurrir en incumplimientos normativos; frente a lo anterior, el objetivo general de esta investigación es analizar la gestión del recaudo y la destinación específica de los recursos obtenidos por las multas impuestas a los contraventores del Código Nacional de Seguridad y Convivencia Ciudadana (ley 1801 de 2016) en la ciudad de Pereira, Risaralda. Se utilizó un alcance descriptivo con un enfoque cualitativo y como técnica para el levantamiento de la información se usó el estudio de caso y la revisión documental. Dentro de los resultados se destaca que se está fallando en la destinación de los recursos de la presente vigencia 2022 por desconocimiento de las actualizaciones normativas en términos de leyFor public organizations it´s important to have on mind the correct implementation of the new processes based on the law, and even more so when it comes to a new current income that arises from a new rent without incurring in regulatory breaches. Compared to the above, the general objective of this research is to analyze collection management and the specific destination of the resources obtain from the fines imposed to the contraveners of the National Code of Security and Citizen Coexistence (law 1801 of 2016) in the city of Pereira, Risaralda. A descriptive scope was used with a qualitative approach, and as technique for gathering information, the case study and the documentary review were used. Among the results it’s highlighted that it´s failing in the destination of the resources of the present validity 2022 due to ignorance of the updates in terms of la

Learning process and improvement of point-of-care ultrasound technique for subxiphoid visualization of the inferior vena cava

Background: Medical residents' training in ultrasonography usually follows the recommendations of the American College of Emergency Physicians (ACEP), even though these do not provide specific technical guidelines. Adequate training is considered to require 25 practical iterations in the majority of ultrasound procedures. However, the effectiveness of this approach has not been verified experimentally. We set out to determine the number of repetitions required for an acceptable ultrasound procedure of the inferior vena cava (IVC), as an important and emerging ultrasound procedure in cardiology. Methods: Using three human models, each of eight medical residents in the Emergency Medicine (EM) Program at the Universidad del Rosario performed 25 iterations of the recommended procedure, with image quality evaluation by an EM physician expert in the technique. Logistic regression analysis was used to determine the lowest number of repetitions required to achieve an adjusted probability of success of 80 and 90 %, respectively. Results: We obtained 200 ultrasound images. The percentage success by each resident ranged from 52 to 96 %. There was no statistical significance in the relation between gender and success (p = 0.83), but there was an association between year of residency and success (p  less than  0.001). The average time taken for each procedure was 17.3 s (SD 8.1); there was no association between the time taken and either repetition number or image quality. We demonstrate that eleven repetitions are required to achieve acceptable image quality in 80 %, and that 21 repetitions are required to achieve acceptable image quality in 90 %. Conclusions: This is the first study to formally evaluate the effectiveness of recommended training in ultrasound techniques. Our findings demonstrate that training comprising 25 procedural repetitions is easily sufficient to achieve optimal image quality, and they also provide empiric knowledge toward elucidating the times and minimum repetitions needed to acquire and improve ultrasonographic technique in novice operators to a level which fulfills quality requirements for interpretation. © 2016, Gómez Betancourt et al