Family Business in Peru: Survival and Expansion under the Liberalization

It is argued that joint stock companies would be transformed from family firms to managerial firms with their development in size and scope. Such managerial firms would have many small shareholders; hence the ownership and management of the firm would be separated. However, in many developing countries including Peru, family businesses, in which families control both ownership and management, still play an important role in the national economy. After the liberalization of economy, which started in Peru in the 1990s, the national market has become more competitive due to the increase in participation of foreign capitals. To secure competitiveness, it is indispensable for family businesses to obtain management resources such as financial, human and technological resources from outside of the families. In order to do so without losing the control over ownership and management, Peruvian family businesses have incorporated companies with distinct characteristics to the extent that they can secure the control over ownership and management inside of their group. While keeping exclusive control of companies in traditional sectors, they actively seek alliance with other families and foreign capitals in competitive sectors. The management of companies with different degrees of control allows them to survive in today's rapidly changing business environment.

The Japan-Peru FTA : antecedents, significance and main features

The Economic Partnership Agreement (EPA) between Japan and Peru came into effect on March 1, 2012. This paper provides background information about this agreement's significance, mostly from a Peruvian point of view. It focuses on the following subjects: the statistical trends showing Peru's declining shares in Japan's trade and investment flows with Latin American countries between the mid-1970s and mid-2000s, the main explanatory factors of such a deterioration in Peru's economic position over that period, the changes of trade policy strategy in both countries since the 2000s, and the EPA negotiation process and some of its key results as featured in the text of the agreement.

Geothermometry, ore geochemistry and fluid flow in the Esperanza Vein, Huachocolpa District (Huancavelica, Peru)

The Esperanza Zn-Pb-Ag vein, owned by Compañía de Minas Buenaventura S.A.A., lies over 4000 to 4650 masl in the Western Cordillera of the Peruvian Central Andes. The Esperanza low sulphidation epithermal vein trends ~E-W along 1500 m; it dips to the South and can be followed to 350 m depth. As other veins of the district, like Teresita and Bienaventurada, it is hosted by intermediate to felsic volcanics (andesitic to dacitic compositions) of the Huachocolpa Group (Middle Miocene to Upper Pliocene). The mineralisation occurs mostly as open space filling related to fracture development during the Quechua III deformational event. Main ore minerals are sphalerite, galena, tetrahedrite, pyrite, chalcopyrite and Ag and Pb sulfosalts; quartz, barite and calcite are the main gangue minerals. Current production grades are ~5% Zn, ~8Oz/t Ag, ~3% Pb; usually very low Cu (mean ~0.04%).

Extreme pointer years in tree-ring records of central Spain as evidence of climatic events and the eruption of the Huaynaputina Volcano (Peru, 1600 AD)

The study of pointer years of numerous tree-ring chronologies of the central Iberian Peninsula (Sierra de Guadarrama) could provide complementary information about climate variability over the last 405 yr. In total, 64 pointer years have been identified: 30 negative (representing minimum growths) and 34 positive (representing maximum growths), the most significant of these being 1601, 1963 and 1996 for the negative ones, and 1734 and 1737 for the positive ones. Given that summer precipitation was found to be the most limiting factor for the growth of Pinus in the Sierra de Guadarrama in the second half of the 20th century, it is also an explanatory factor in almost 50% of the extreme growths. Furthermore, these pointer years and intervals are not evenly distributed throughout time. Both in the first half of the 17th and in the second half of 20th, they were more frequent and more extreme and these periods are the most notable for the frequency of negative pointer years in Central Spain. The interval 1600–1602 is of special significance, being one of the most unfavourable for tree growth in the centre of Spain, with 1601 representing the minimum index in the regional chronology. We infer that this special minimum annual increase was the effect of the eruption of Huaynaputina, which occurred in Peru at the beginning of 1600 AD. This is the first time that the effects of this eruption in the tree-ring records of Southern Europe have been demonstrated.