Impacto del Plan Nacional de Lectura y Bibliotecas (PNLB) sobre el número de libros leídos en Colombia

El presente documento evalúa, a través de la metodología Propensity Score Mat-ching, el impacto que ha tenido el Plan Nacional de Lectura y Bibliotecas —PNLB— sobre la cantidad de libros que leen los colombianos. Las conclusiones arrojadas por el estudio permiten corroborar la veracidad de la hipótesis según la cual se afirma que, aquellos individuos pertenecientes a municipios beneficiados por el PNLB, tienen mejores hábitos de lectura que otros con características similares pero que no han sido objeto de atención. Así se proveen criterios objetivos que demuestran la conveniencia de fortalecer el programa en poblaciones ya beneficiadas, y de estimular a los municipios que aún no se han beneficiado del Plan, para que cumplan con los requerimientos exigidos de manera que puedan ser elegibles

The effects of contagion during the global financial crisis in government-regulated and sponsored assets in emerging markets

University of Technology, Sydney. Faculty of Business.The effects of financial contagion during the Global Financial Crisis (GFC) have been extensively studied in the finance literature. One of the key issues is the devastating effect of the crisis on wealth and asset prices. However, an important difference between this crisis and past crises was the relatively small and short duration of the effects of the crisis on emerging markets. Of particular interest was the resilience of government-regulated and -sponsored assets such as pension funds, state-owned enterprises, and international and local-currency government bonds. This thesis contributes to the literature on the effects of financial contagion by analysing four cases of government-regulated and -sponsored assets during different episodes of the GFC. The second chapter analyses contagion from US equity markets to emerging-market autarchic assets (Colombian private pension funds) during different episodes of the GFC. In this paper we test for contagion via changes in correlation between financial asset returns and via additional volatility spillovers. We propose a DCC-GJR GARCH framework where the S&P 500 is the source of transmission of contagion to the autarchic asset. We find no evidence of contagion measured as significant changes in correlation during the first two phases of the crises. In Chapter 3 we extend our analysis to government-sponsored assets (state-owned enterprises (SOEs)) and argue that these assets account for a substantial and increasing fraction of global foreign direct investment. While emerging-economy SOEs are often vehicles for state-directed economic growth policy, the performance of SOEs compared with private enterprises is an open question, particularly during crisis periods. We estimate a four-factor model of SOE returns of the BRIC economies for the period 2000–12 and show that certain SOEs offered some protection to investors during the financial crisis of 2007–09. We use quantile regressions since this approach is robust to the presence of outliers and their impact on the factors during crisis periods. The results obtained in this chapter provide empirical evidence for the special role of the state in protecting and stabilising state-owned enterprises. In Chapter 4 we analyse the effects of the GFC on government bonds. For this objective we use propensity matching estimation to measure the effect of the GFC on sovereign spreads using data from 43 countries. We estimate general underlying factor models allowing for multiple channels of contagion transmission then use estimates to select matching non-crisis benchmarks for nine portfolios of sovereign bonds. We found no significant changes in spreads on portfolios of local-currency emerging-market debt during the GFC. Finally, in Chapter 5 we use high-frequency Colombian government bond data and perform an event study on high-frequency data to measure the effect of the news originating from the GFC via a market-transmission mechanism. In order to avoid confounding effects, we compare the impact of news originating from the GFC with global, regional, and local news. Our results make an interesting contribution to understanding the extent of the resilience of emerging markets under the postulates of the coupling/decoupling hypothesis and market integration

Retos y experiencias empresariales (casos colombianos)

Este texto está fundamentado en la necesidad de contribuir a la formación universitaria y empresarial, a través de la exposición de casos de empresas colombianas, que con su experiencia y crecimiento se constituyen en una realidad, objeto de estudio, propicia para los cursos de marketing que ofrecen las instituciones y centros de estudio. Cada caso expone una problemática de mercadeo diferente y al final se cierra con una sección de reflexión como apoyo de la estrategia de enseñanza-aprendizaje

10 successful colombian executives working abroad

"10 Successful Colombian executives Working Abroad" gives us a portrait of how a group of Colombian executives was able to overcome language barriers and develop a convincing and fluid discourse which has allowed them to stand out and empower themselves i

Valoración Grupo Argos : investment Banking Práctica Empresarial

Working on investment banking has been a strong but incredible experience, since I have learned lot of things (PowerPoint, Excel, and basically how to work). Investment Banking is not a sector for everyone, that’s true; but if you are one of the lucky ones who can handle it, it is with no shadow of doubt the best experience you can have. I feel really grateful of working on IB (Investment Banking) because it completed me, I evaluated lots of industries and I learned about lots of companies, and of course increased my English writing and understanding skills a 100%. On the other hand, since I worked on a multinational company, I also learned about how is the approving process on every transaction, how actually linked is the Colombia subsidiary with the other LatAm and though I did not work in the other areas, my team and I worked with them and this position helped me to understanding what areas I liked and not, and how all of them complement each other to make a huge Multinational Bank.Strategic Evaluation. Competitive Positioning. Category & Geographical Opportunities. Operations (Assumptions for Valuation). Valuation Methods. Conclusions and recommendations. Bibliography. Appendix.Administrador de EmpresasPregrad

The inclusion of the performance sensitive debt in an emerging Economy – COLOMBIA

Execituve Summary. Introduction. The virtues of the inclusión of the Performance Sensitive Debt contract in the financing market. The Performance Sensitive Debt in the real sector. Colombia’s business sector. Conclusions. Bibliography. Graphics. Tables.Administrador de EmpresasThe performance sensitive debt is an exotic kind of debt, in which the interest rate is going to be fluctuating based on the financial ratios of the borrowers. The objective of the paper is to analyze an emerging market, as Colombia and the performance sensitive debt, remarking their virtues and disadvantages, to have in a conclusion how viable is in the short, medium and long term the inclusion of the performance sensitive debt.Pregrad

Nokia acquires alcatel lucent: academic case

En 2015, Nokia anunció la adquisición de su competidor francés AlcatelLucent en un acuerdo de acciones. A finales de 2015, Nokia anunció la estructura organizativa compuesta por cuatro grupos empresariales: redes móviles, redes fijas, Aplicaciones y análisis, y redes IP / ópticas. Tras la adquisición, Nokia ha ido evolucionando su estructura operativa, con cambios como la creación de nuevos grupos empresariales y cambios en las funciones de soporte, entre otros. Pero a pesar de la evolución natural del diseño organizativo de una gran corporación, el modelo de grupo empresarial seguido de la adquisición de Alcatel-Lucent no solo se mantuvo sino que también se fortaleció con la creación de nuevos BG. Sin embargo, en octubre de 2019, Nokia anunció que la política de pago de acciones se pausaría hasta nuevo aviso, debido a un retraso en la carrera de la última tecnología de banda ancha móvil llamada 5G frente a sus principales competidores.Introduction ; Telecom equipment industry ; Nokia Company background ; Alcatel Lucent Company background ; The acquisition of Alcatel Lucent ; Organizational design in a post merger integration process ; The organizational structure of Nokia after the acquisition ; Looking forwardMagíster en Administración de Empresas, CESA.In 2015, Nokia announced the acquisition of its French-based competitor AlcatelLucent in an all-stock agreement. By the end of 2015, Nokia announced the organizational structure composed of four business groups: Mobile Networks, Fixed Networks, Applications & Analytics, and IP/Optical Networks. After the acquisition, Nokia has been evolving its operational structure, with changes such as creation of new business groups and changes in the support functions, among others. But despite the natural evolution of the organizational design of a large corporation, the business group model followed the acquisition of Alcatel-Lucent was not only maintained but also strengthened with the creation of new BGs. In October 2019, however, Nokia announced the share payment policy to be paused until new notice, due to a lag in the race of the latest mobile broadband technology called 5G against its main competitors.Maestrí

Customer centered marketing for english proficiency certifications in five emerging countries of Latin America

Las certificaciones de dominio del inglés han estado en el mercado desde la década de 1960, cuando se crearon como consecuencia de la demanda de estudiantes extranjeros en las universidades de América del Norte. No hubo que promocionar ni comercializar, ya que era un requisito de las universidades para los candidatos que esperaban ingresar a diferentes programas de educación superior. Esta situación creó el entorno perfecto para las organizaciones que administran certificaciones de exámenes para generar estrategias de marketing centradas en el producto más que en el cliente, similar a lo que tradicionalmente ha sucedido con el marketing educativo.Abstract. Introduction. State of the art. Theoretical framework. Methodology. English proficiency certifications. Government supported English Proficiency Tests. IELTS (International English Language Testing System). TOEFL (The Test of English as Foreign Language). Independent English Proficiency Tests.TECS - Test of English Communication Skills. APTIS. TOEIC – Test of English for International Communication. ITEP. Country analysis. Brazil. Chile. Colombia. México. Perú. Porter 5 forces analysis for the english proficiency testing industry. Power of suppliers. Threat of new entrants. Power of buyer. Power of substitutes. Industry rivalry. Customer asset marketing diagnosis to english proficiency certifications. International Language Testing Organization, creators of the TECS. British Council, creators of the APTIS test. Boston Educational Service, developers of the ITEP. Conclusions and suggested strategy.Magíster en Administración de EmpresasEnglish Proficiency Certifications have been in the market since the 1960´s when they were created as a consequence of the demand of foreign students in the North American universities. Neither promotion nor marketing had to be undertaken since it was a requirement from Universities to candidates expecting to enter different higher education programs. This situation created the perfect environment for the organizations administering exam certifications to generate marketing strategies focused in the product more than the customer, similar to what has traditionally happened with education marketing.Maestrí

North American and European Plastic Equipment Processing Companies’ Relationships with Andean Markets

El propósito de esta investigación es establecer por qué las empresas norteamericanas, específicamente, el plástico empresas de maquinaria de procesamiento, no tienen estrategias agresivas para mejorar su desempeño en Países andinos mientras que la competencia europea tiene una mejor actitud hacia el desarrollo local operaciones El documento presenta las principales teorías que podrían explicar por qué las empresas norteamericanas Parece estar menos interesado en los mercados andinos. La contribución principal consiste en entrevistas con Ejecutivos superiores norteamericanos y europeos con capacidad de decisión y gestión responsabilidades en los mercados andinos. Las entrevistas ilustran hallazgos y patrones de comportamiento que apoyar las hipótesis del autor. Las conclusiones de esta investigación pueden usarse para sugerir posibles estudios similares en diferentes sectores industriales y para verificar si se trata de un sector industrial o cultural fenómeno.Literature review The potential of Andean Markets in the Plastic Industry Doing business in Andean Markets. Methodology Data collection and analysis The uppsala model and firm internationalization Results and discussion FIndings of the interviews undertaken a. Entry Models b. Andean Market Potential and Commitment c. Local Market Size d. Cultural Distance e. Host Country Level Factors: Risk Associated and The Andean Market Situation Conclusions and implications Limitations Opportunities for Further Studies Appendix a. Interview details and persons (Only for internal use not for publication) b. Interview format.Magíster en Administración de EmpresasThe purpose of this investigation is to establish why North American firms, specifically, plastic processing machinery firms, don’t have aggressive strategies to improve their performance in Andean countries while the European competition has a better attitude towards developing local operations. The document presents the main theories that might explain why North American firms seem to be less interested in Andean Markets.Maestrí

Acceptance of blended learning in executive education

This article evaluates the factors involved in the acceptance of Blended Learning (BL) with executives based on the Extended Unified Theory of Acceptance and Use of Technology (UTAUT2) model in executive education. The empirical analysis uses data from 307 responses to an online questionnaire by senior and middle-ranking managers. The confirmatory factor analysis and structural equation modeling demonstrated the applicability of the UTAUT2 model in BL in executive education. The results showed that hedonic motivation, performance expectancy, and effort expectancy predict the intention to adopt BL. Results also prove no significant effect on social influence and habits. The relevance of this article is to contribute to the understanding of the factors that influence the intention to adopt BL in a group not typically considered in higher education research