Herramienta para el desarrollo del mercado de futuros de renta fija en Colombia a través de coberturas

El mercado de derivados es un determinante del desarrollo y madurez de los mercados de capitales en el mundo -- Aunque muchos asocian la palabra “derivados” con alto riesgo, la realidad es que estos pueden ser utilizados como herramienta de cobertura, especulación y arbitraje, por lo que se puede decir que estos, en especial los derivados estandarizados, juegan un papel importante dentro de la gestión de riesgos de los portafolios de inversión -- De ahí la importancia de brindarles a los agentes una herramienta por medio de la cual conozcan sus ventajas y utilidad en especial para el mercado de TES tasa fija en Colombia, el cual ha venido funcionando desde el año 2008 con un crecimiento lento, baja liquidez y profundidad, lo que ha generado poco interés por parte de los agentes debido a varios factores en los cuales no se ha trabajado a profundidad -- A partir de esta problemática, se presenta el desarrollo de los futuros de TES tasa fija en el mercado de capitales colombiano y se plantean las soluciones encaminadas al desarrollo del mismo observando la experiencia en el mercado mexicano, que ha servido de modelo para su implementación en Colombia, y la utilidad que tienen como herramienta de cobertura para la gestión de riesgos de portafolios de inversión

Opciones reales en la gerencia de proyectos

Teniendo en cuenta el escaso conocimiento y utilización de las opciones reales a la hora de realizar la evaluación financiera de un proyecto, se evidencia una oportunidad de elaborar un estado del arte de esta metodología con el fin de comparar las ventajas y las desventajas respecto a los métodos tradicionales más utilizados -- Para el desarrollo de la investigación se recurrió a información secundaria dentro de las bases de datos de la universidad EAFIT y su biblioteca, donde se encontraron artículos y material académico que arrojaron datos significativos que contribuyeron al cumplimiento de los objetivos -- Dentro de los resultados se encentra que el VPN y la TIR son las metodologías más comunes para la evaluación de proyectos en gran medida por su sencilla aplicación -- Por otro lado, las opciones reales son poco utilizadas por desconocimiento y por la aparente complejidad de su aplicación -- La mayor desventaja que presentan las metodologías tradicionales es que son estáticas, rígidas, orientadas al corto plazo y no manejan eficazmente la incertidumbre, mientras que las opciones reales tienen en cuenta la flexibilidad estratégica incorporada en un proyecto

Plataforma de información financiera como herramienta de apoyo para la gestión y toma de decisiones en las Pymes

Las pymes se encuentran envueltas en problemas derivados en distorsiones del sistema empresarial, que incide en la mortalidad de las mismas: la falta de criterios para la toma de decisiones asertivas, lo cual tiene un impacto directo también en la economía en general, y contribuye al aumento del desempleo, la desaceleración económica y, finalmente, a la reducción de la calidad de vida de la sociedad -- El objetivo general de esta investigación consiste en proponer una plataforma de información financiera integral que se constituya en una herramienta de análisis para las pymes en Medellín, Colombia -- Para resolverlo, se desarrollan los siguientes objetivos específicos: 1. Diagnosticar la gestión empresarial en la toma de decisiones -- 2. Describir la información financiera necesaria para la toma de decisiones empresariales -- 3. Indicar los aspectos constitutivos de una plataforma financiera para la gestión empresarial -- Para mitigar esta problemática, la implementación del sistema de información financiero propuesto contribuye al entorno competitivo de las pymes, lo cual permite automatizar procesos, estabilidad laboral y empresarial, reducción de costos, accesibilidad a nuevas tecnologías y crear las bases para la toma de decisiones, con la finalidad de mejorar la competitividad de las micro, pequeñas y medianas empresas

How do customers of a financial services institution judge its communications

Communications are important for relationships within a marketing channel from both a theoretical and managerial perspective. Yet it is a problematic area for scholars. Thus, this research addresses the problem of how do customers of a financial services institution perceive communications with an ideal institution? This study's case research methodology used in-depth interviews with 34 carefully selected customers of a building society. The factors that make up customers' attitudes about corporate communications for an ideal financial services institution were identified and actual perceptions were compared against that ideal. The findings confirmed the importance of communications for customers in a relationship with a financial services provider and suggested communication priorities for customers in this context. In addition, the findings suggested sources of communication dissatisfaction for customers. These findings build upon the literature that speculates about customer perceptions of communications with organizations but provides little evidence to support hypotheses. The contributions arose from the emphasis on the customers' own attitudes and the patterns found within them.

Value-oriented process modeling : integrating financial perspectives into business process re-design

Purpose – Financial information about costs and return on investments are of key importance to strategic decision-making but also in the context of process improvement or business engineering. In this paper we propose a value-oriented approach to business process modeling based on key concepts and metrics from operations and financial management, to aid decision making in process re-design projects on the basis of process models. Design/methodology/approach – We suggest a theoretically founded extension to current process modeling approaches, and delineate a framework as well as methodical support to incorporate financial information into process re-design. We use two case studies to evaluate the suggested approach. Findings – Based on two case studies, we show that the value-oriented process modeling approach facilitates and improves managerial decision-making in the context of process re-design. Research limitations / implications – We present design work and two case studies. More research is needed to more thoroughly evaluate the presented approach in a variety of real-life process modeling settings. Practical implications – We show how our approach enables decision makers to make investment decisions in process re-design projects, and also how other decisions, for instance in the context of enterprise architecture design, can be facilitated. Originality/value – This study reports on an attempt to integrate financial considerations into the act of process modeling, in order to provide more comprehensive decision making support in process re-design projects.

The Financial Benefit For Insurers : Mediate in Personal Injuries Disputes

Resolving insurance disputes can focus only on quantum. Where insurers adopt integrative solutions they can enjoy cost savings and higher customer satisfaction. An integratively managed process can expand the negotiation options. The potential inherent in plaintiff’s emotions to resolve matters on an emotional basis, rather than an economic one, is explored. Using research, the author demonstrates how mediations are more likely to obtain integrative outcomes than unmediated conferences. Using a combination of governmental reports, published studies and academic publications, the paper demonstrates how mediation is more likely to foster an environment where the parties communicate and cooperate. Research is employed to demonstrate where mediators can reduce hostilities, in circumstances where negotiating parties alone would likely fail. Generally the paper constructs an argument to support the proposition that mediation can offer insurers an effective mechanism to reduce costs and increase customer satisfaction. INTRODUCTION Mediation can offer insurers an effective mechanism to reduce costs and increase customer satisfaction. This paper will first demonstrate the differences between distributive and integrative outcomes. It is argued insurer’s interest can be far better served through obtaining an integrative solution. The paper explains how the mediator can assist both parties to obtain an integrative outcome. Simultaneously the paper explores the extreme difficulties conference participants face in obtaining an integrative outcome without a mediator in an adversarial climate. The mediator’s ability to assist in the facilitation of integrative information exchange, defuse hostilities and reality check expectations is discussed. The mediator’s ability to facilitate in this area is compared to the inability of conference participants to achieve similar results. This paper concludes, the potential financial benefit offered by integrative solutions, combined with the ability of mediation to deliver such outcomes where unmediated conferences cannot deliver, leads to the recommendation that insurers opt for a mediation to best serve their commercial interests.

Financial accounting: building accounting knowledge

Financial Accounting: Building Accounting Knowledge is a new textbook written for the first financial accounting subject that a student majoring in accounting is required to study. Based on the successful introductory accounting textbook, 'Accounting: building business skills', this text will provide students and academics with a well written and accessible textbook on the principles of financial accounting, with ample illustrations and applications to business. The text maintains the balance between a 'user' and 'preparer' perspective effectively by integrating real financial information and business decision choices throughout the chapters. Through the use of real company information and financial statements students will quickly appreciate the use of accounting information. The textbook clearly outlines to students how accounting information communicates the financing, operating, and investing activities of a business. The text builds a strong conceptual understanding and develops skills in the application of accounting principles and techniques, providing students with a solid foundation for studying accounting.