Contaduria y Administracion最新文献

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Multi-lender choice: Corporate bonds vs syndicated loans in mexican firms 多贷款人选择:墨西哥公司的公司债券与银团贷款
Contaduria y Administracion Pub Date : 2022-10-26 DOI: 10.22201/fca.24488410e.2023.4477
María De las Mercedes Adamuz Peña, Janko Hernández Cortés, Jorge Omar Moreno Treviño
{"title":"Multi-lender choice: Corporate bonds vs syndicated loans in mexican firms","authors":"María De las Mercedes Adamuz Peña, Janko Hernández Cortés, Jorge Omar Moreno Treviño","doi":"10.22201/fca.24488410e.2023.4477","DOIUrl":"https://doi.org/10.22201/fca.24488410e.2023.4477","url":null,"abstract":"We study the long-term financing choice between syndicated loans and Mexican firms' issuance of public debt. We restrict our attention to those firms that issue securities in capital markets. Our findings suggest that the firm's size, the quality of its collateral","PeriodicalId":52100,"journal":{"name":"Contaduria y Administracion","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-10-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43961314","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Is the omega ratio a good portfolio optimization criterion? 比率是一个好的投资组合优化标准吗?
Contaduria y Administracion Pub Date : 2022-10-18 DOI: 10.22201/fca.24488410e.2023.3432
Ángel Samaniego Alcántar
{"title":"Is the omega ratio a good portfolio optimization criterion?","authors":"Ángel Samaniego Alcántar","doi":"10.22201/fca.24488410e.2023.3432","DOIUrl":"https://doi.org/10.22201/fca.24488410e.2023.3432","url":null,"abstract":"<div class=\"page\" title=\"Page 1\"><div class=\"section\"><div class=\"layoutArea\"><div class=\"column\"><p class=\"Cuerpo\">The Omega ratio has been widely used in the literature to optimize and search for good performance in investment portfolios.  It considers both the downside and upside potential of the portfolio with respect to a predetermined threshold, which can be fixed or time varying. Mixed results have been obtained in different markets and periods. And when combined with other performance or risk measures, its results can be improved. The proposed model restricts the omega ratio to a value of less than 470, a maximum investment in each asset of 15%, with a target annual return equal to the return of the Dow Jones Industrial Average (DJIA) among the assets that make up the index. In the study period (2000-2020, rolling window with annual return per day) there is a 64% probability of outperforming the DJIA with an appraisal of 2.36, higher than the other models used (Upside potential, Downside potential, semi-variance and unconstrained Omega).</p></div></div></div></div>","PeriodicalId":52100,"journal":{"name":"Contaduria y Administracion","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-10-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41796307","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Hours ahead automed long short-term memory (LSTM) electricity load forecasting at substation level: Newcastle substation 变电站级的自动长短期记忆(LSTM)电力负荷预测:纽卡斯尔变电站
Contaduria y Administracion Pub Date : 2022-10-12 DOI: 10.22201/fca.24488410e.2023.3356
Wellcome Peujio Jiotsop Foze, A. Hernández-del-Valle
{"title":"Hours ahead automed long short-term memory (LSTM) electricity load forecasting at substation level: Newcastle substation","authors":"Wellcome Peujio Jiotsop Foze, A. Hernández-del-Valle","doi":"10.22201/fca.24488410e.2023.3356","DOIUrl":"https://doi.org/10.22201/fca.24488410e.2023.3356","url":null,"abstract":"Nowadays, electrical energy is of vital importance in our lives, every country needs this resource to develop its economy, factories, businesses, and homes are the basis of the economic structure of a country. In the city of Newcastle as in other cities are in constant development growing day by day in terms of industries, homes and businesses, these elements are the ones that consume all the electricity produced in Newcastle. Although Australia has strategically located substations that serve the function of supplying all existing loads with quality power, from time to time the load will exceed the capacity of these substations and will not be able to supply the loads that will arise in the future as the city grows. To find a solution to this problem, we use a deep learning model to improve accuracy. In this paper, a Long Short-Term Memory recurrent neural network (LSTM) is tested on a publicly available 30-minute dataset containing measured real power data for individual zone substations in the Ausgrid supply area data. The performance of the model is comprehensively compared with 4 different configurations of the LSTM. The proposed LSTM approach with 2 hidden layers and 50 neurons outperforms the other configurations with a mean absolute error (MAE) of 0.0050 in the short-term load forecasting task for substations.","PeriodicalId":52100,"journal":{"name":"Contaduria y Administracion","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-10-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47936733","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Internal audit function, political characteristics, and compliance with government accrual-based accounting standards in Indonesian local government 印尼地方政府内部审计职能、政治特征与政府权责发生制会计准则的遵从性
Contaduria y Administracion Pub Date : 2022-10-11 DOI: 10.22201/fca.24488410e.2023.3357
S. Sutaryo, S. Sahari, Shaharudin Jakpar, Sophee Sulong Balia
{"title":"Internal audit function, political characteristics, and compliance with government accrual-based accounting standards in Indonesian local government","authors":"S. Sutaryo, S. Sahari, Shaharudin Jakpar, Sophee Sulong Balia","doi":"10.22201/fca.24488410e.2023.3357","DOIUrl":"https://doi.org/10.22201/fca.24488410e.2023.3357","url":null,"abstract":"We investigate the effect of local government internal audit function and political characteristics on accounting compliance based on government accrual-based accounting standards in Indonesia while controlling for financial and local government characteristics. Our analysis is conducted for 2015-2018 with panel data regression, equipped with a robustness test using logistic regression. Our results show that internal audit function capability, maturity, expertise","PeriodicalId":52100,"journal":{"name":"Contaduria y Administracion","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-10-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48027943","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Volatilidad y creación de valor en el mercado integrado Latinoamericano 拉丁美洲一体化市场的波动性和价值创造
Contaduria y Administracion Pub Date : 2022-10-11 DOI: 10.22201/fca.24488410e.2023.3080
Sandra Gaitan Riaño, Jaime Ospina Mejía, Ana Maria Sierra Jaramillo
{"title":"Volatilidad y creación de valor en el mercado integrado Latinoamericano","authors":"Sandra Gaitan Riaño, Jaime Ospina Mejía, Ana Maria Sierra Jaramillo","doi":"10.22201/fca.24488410e.2023.3080","DOIUrl":"https://doi.org/10.22201/fca.24488410e.2023.3080","url":null,"abstract":"En la actualidad, la integración apunta a reducir la atomización del mercado al concentrar la liquidez y profundidad de cada uno de los actores que integran el Mercado Integrado Latinoamericano (MILA) en un solo lugar. Facilita la incorporación al mercado de capitales internacional, permitiendo el acceso a mayores fuentes de financiación diferentes a las tradicionales que ofrece la banca. Por esta razón se considera importante estudiar la relación entre la creación de valor y la volatilidad de las firmas que hacen parte del MILA durante el periodo comprendido entre 2007 y 2017. Para contrastar esta relación se utilizan diferentes modelos econométricos que permiten evidenciar una relación negativa y estadísticamente significativa entre la creación de valor para el accionista y la volatilidad. Esto implica que las compañías que generan más incertidumbre reflejada en una mayor volatilidad, medida en términos de los retornos diarios, presentan menor creación de valor para el accionista.","PeriodicalId":52100,"journal":{"name":"Contaduria y Administracion","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-10-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43646783","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Spillover de volatilidad entre el mercado de las criptomonedas, los mercados financieros y commodities 加密货币市场、金融市场和大宗商品之间的波动溢出
Contaduria y Administracion Pub Date : 2022-09-29 DOI: 10.22201/fca.24488410e.2023.3396
Erik Mauricio Muñoz Henríquez, F. A. Gálvez Gamboa
{"title":"Spillover de volatilidad entre el mercado de las criptomonedas, los mercados financieros y commodities","authors":"Erik Mauricio Muñoz Henríquez, F. A. Gálvez Gamboa","doi":"10.22201/fca.24488410e.2023.3396","DOIUrl":"https://doi.org/10.22201/fca.24488410e.2023.3396","url":null,"abstract":"El objetivo de este trabajo es analizar el efecto spillover entre el mercado de las criptomonedas, los mercados financieros y commodities, utilizando índices de volatilidad realizada de las diez criptomonedas con mayor capitalización de mercado y la volatilidad implícita de las cotizaciones del Oro (GVZ) y el Petróleo (OVX), y el mercado financiero norteamericano (VIX) y europeo (VSTOXX) a través del Spillover Index basado en un Vector Autorregresivo (VAR). Los resultados indican que Ethereum es el mayor transmisor de volatilidad, seguido por Cardamo, mientras que los mayores receptores de volatilidad son ChainLink y BinanceCoin. Además, demostramos a través de la utilización de la volatilidad implícita que la contribución de los mercados financieros al spillover no excede el 3%, incluso resultados menores se evidencian con ambos commodities. El análisis de impulso-respuesta muestra el mayor efecto sobre las criptomonedas proviene del VIX, junto con una respuesta negativa ante un shock en el OVX y GVZ.","PeriodicalId":52100,"journal":{"name":"Contaduria y Administracion","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-09-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43068649","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Influencia del entorno macroeconómico en la creación de empresas en Perú 宏观经济环境对秘鲁创业的影响
Contaduria y Administracion Pub Date : 2022-09-26 DOI: 10.22201/fca.24488410e.2022.3242
Juan Celestino León Mendoza
{"title":"Influencia del entorno macroeconómico en la creación de empresas en Perú","authors":"Juan Celestino León Mendoza","doi":"10.22201/fca.24488410e.2022.3242","DOIUrl":"https://doi.org/10.22201/fca.24488410e.2022.3242","url":null,"abstract":"En un escenario de grandes diferencias departamentales en la tasa de creación de empresas al interior del Perú, el objetivo del presente estudio consistió en especificar las variables del entorno macroeconómico que influyen en la creación de empresas a nivel de los departamentos peruanos. Para ello, se efectuaron regresiones econométricas con datos de panel balanceado utilizando tres métodos: Mínimos cuadrados ordinarios, el modelo de efectos fijos y el modelo de efectos aleatorios. Mediante la prueba F y el Test de Hausman se eligió al modelo de efectos aleatorios como el mejor. Según dicho modelo, la creación de empresas está influenciada, en sentido positivo, por: el producto interno bruto, el empleo laboral, el crédito financiero y el gasto de inversión pública. De esa manera se llegó a determinar la importancia que tiene el contexto macroeconómico en el proceso microeconómico de emprender nuevas empresas o negocios en el Perú.","PeriodicalId":52100,"journal":{"name":"Contaduria y Administracion","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-09-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47226830","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Critical factors to improve customer satisfaction and reduce operating costs in large and medium-sized manufacturing companies in Nuevo León and the impact caused by the COVID pandemic 新莱昂大中型制造公司提高客户满意度和降低运营成本的关键因素以及新冠肺炎疫情造成的影响
Contaduria y Administracion Pub Date : 2022-09-23 DOI: 10.22201/fca.24488410e.2022.4437
Jorge Manuel Quiroga Mireles, Jesús Fabián López Pérez
{"title":"Critical factors to improve customer satisfaction and reduce operating costs in large and medium-sized manufacturing companies in Nuevo León and the impact caused by the COVID pandemic","authors":"Jorge Manuel Quiroga Mireles, Jesús Fabián López Pérez","doi":"10.22201/fca.24488410e.2022.4437","DOIUrl":"https://doi.org/10.22201/fca.24488410e.2022.4437","url":null,"abstract":"The objective of this document is to determine how transportation, trained personnel, customs procedures, preventive maintenance and inventory reliability impact customer satisfaction and operating costs in large and medium-sized companies in the State of Nuevo Leon, Mexico; Likewise, how they were affected by the pandemic caused by COVID. To carry out this research, a measurement instrument was developed, being of a non-experimental, descriptive and longitudinal type, where the results are first evaluated before the pandemic and after the presence of COVID. To analyze the collected information, the structural equation model was used with the method of partial least squares with the SmartPLS3 software. The results are initially presented globally, and later two groups were formed by type of company, those with Mexican and foreign capital; In this way, the approaches of each group and the impact of the factors on the response variables can be evaluated. The results presented in this article are expected to guide companies to improve customer satisfaction and reduce operating costs with and without a pandemic.","PeriodicalId":52100,"journal":{"name":"Contaduria y Administracion","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-09-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41536923","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Análisis espacial comparativo 2021-2022 de la pandemia por covid-19 y sus efectos en la pobreza en México 2021-2022年covid-19大流行及其对墨西哥贫困影响的比较空间分析
Contaduria y Administracion Pub Date : 2022-09-22 DOI: 10.22201/fca.24488410e.2022.4820
José Arturo Cerón Vargas, Miguel Santiago Reyes Hernández, Fernando Muñoz Alonso, Jorge Alberto Gutiérrez Pozos
{"title":"Análisis espacial comparativo 2021-2022 de la pandemia por covid-19 y sus efectos en la pobreza en México","authors":"José Arturo Cerón Vargas, Miguel Santiago Reyes Hernández, Fernando Muñoz Alonso, Jorge Alberto Gutiérrez Pozos","doi":"10.22201/fca.24488410e.2022.4820","DOIUrl":"https://doi.org/10.22201/fca.24488410e.2022.4820","url":null,"abstract":"La hipótesis central del proyecto considera que la presencia y contagios del SARS-CoV-2 (COVID-2019) se ha estado desarrollando bajo un patrón sistemático, es decir, no de forma aleatoria; existiendo zonas específicas del país en donde se concentra, primordialmente por el tamaño de la población que habita en dichos municipios, pero adicional, correlacionado con variables del entorno (sociales y económicas) que han determinado la gravedad de los efectos de la enfermedad en dichos territorios. Los resultados de esta investigación permiten comparar e identificar “puntos calientes” de contagio por COVID-19 de enero 2021 a enero 2022, no sólo por el tamaño de la población, sino por las condiciones sociales en que vive dicha población y con ello, observar los impactos de la enfermedad en el tiempo.","PeriodicalId":52100,"journal":{"name":"Contaduria y Administracion","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-09-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47872681","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Organización industrial de la banca, regulación financiera y antimonopolios 银行、金融监管和反垄断的产业组织
Contaduria y Administracion Pub Date : 2022-09-22 DOI: 10.22201/fca.24488410e.2022.2893
Michel Eduardo Betancourt Gomez
{"title":"Organización industrial de la banca, regulación financiera y antimonopolios","authors":"Michel Eduardo Betancourt Gomez","doi":"10.22201/fca.24488410e.2022.2893","DOIUrl":"https://doi.org/10.22201/fca.24488410e.2022.2893","url":null,"abstract":"El objetivo de este artículo es examinar teóricamente la relación entre la regulación prudencial y antimonopolios de los bancos. Para esto se elabora un modelo teórico donde se consideran diferentes situaciones de regulación prudencial y se evalúan sus repercusiones sobre el poder de mercado y la organización industrial de los bancos. Cuando el poder de mercado es elevado significa que la regulación antimonopolios está siendo poco efectiva y, por lo tanto, existe poca competencia. Los resultados teóricos permiten concluir que el poder de mercado de un banco es más elevado cuando la regulación prudencial es rígida, lo que implica que existe un conflicto entre la regulación prudencial y la regulación antimonopolios. Por último, se ofrece evidencia empírica de esta situación para el caso de México y se propone un nuevo esquema de regulación para solucionar esta inconsistencia.","PeriodicalId":52100,"journal":{"name":"Contaduria y Administracion","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-09-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42289799","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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