Administración Estratégica de Empresas (Dr.)

Permanent URI for this collectionhttp://98.81.228.127/handle/20.500.12404/779

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Subject: search.filters.subject.Valor--Finanzas

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    Dynamic Capabilities and Performance of Family Businesses in Emerging Economies
    (Pontificia Universidad Católica del Perú, 2024-09-10) Rossignoli Cevallos, Gina Lorena; Guevara Sánchez, Daniel Eduardo
    Dynamic capabilities analyze the sources and methods of better performance and wealth creation and capture by firms operating in environments of rapid technological changes. Based on this, the objective of this research was to analyze the relationship between absorptive, adaptive, and innovation capabilities on financial and non-financial performance of family businesses was analyzed in the context of emerging economies, a relationship that has not been analyzed in this context. Through the application of structural equation modeling in a sample of 235 family businesses of agricultural supplies and machinery, located in the G46 and G47 categories of the International Standard Industrial Classification – ISIC, the results allowed us to identify that absorptive capability has a positive influence on financial performance, while innovation capability has a positive influence on no-financial performance. No evidence was found that other capabilities were related to the performance of the organizations analyzed. In addition, it was shown that the size of the companies does not generate any moderating effect in the relationship between these variables. This study contributes to dynamic capabilities theory by exploring how absorptive and innovative capabilities influence financial and non- financial performance in a specific and underexplored context: family businesses in emerging economies. Furthermore, the importance of developing and enhancing absorptive and innovation capabilities is highlighted. This could lead to the implementation of training programs, investment in R&D, and adoption of knowledge management practices.
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    Impact of the inclusion of stochastic and conditional volatility of a commodity in real options valuation using the binomial options pricing model
    (Pontificia Universidad Católica del Perú, 2019-03-27) Pareja, Julian A.; Tuesta, Vicente
    In this dissertation it was described in detail the multiplicative quadrinomial tree numerical method with nonconstant volatility, based on a basis a proposal system of stochastic differential equations. The methodology allowed to estimate first, the value of the parameters based on an estimate conditional volatility process for a WTI oil commodity prices quoted in the Bloomberg platform, then they were derived and found their equivalent parameters in the proposed stochastic differential equations system, and finally the appropriate numerical method was constructed to include the volatility that was estimated. For the above, the first two moments of the proposed equations were derived to estimate the respective recombination between discrete and continuous processes and, as a result, a numerical methodological proposal was formally presented to value, with relative ease, both real and financial options, when the volatility was stochastic. The main findings showed that when in the proposed method the volatility approached to zero, the multiplicative binomial traditional method was a particular case, and that the results were comparable between these methodologies, as well as with the exact solution offered by the Black-Scholes model; Finally, the originality of the methodological proposal was that it allowed for the emulation in a simple way the presence of a nonconstant volatility in the price of the underlying asset, and it could be used to value all kinds of options both for a real world and in risk-neutral situations.