La interfaz trabajo-familia se ha definido en términos de conflicto de roles, la interferencia, la satisfacción, la interdependencia, la facilitación, el enriquecimiento y el equilibrio. La presente investigación se centró en determinar si las transiciones de rol tienen relación con el equilibrio trabajo-vida familiar. Específicamente, se analizó si la preferencia de segmentación y la preferencia de integración de los dominios laborales y familiares moderan la relación entre las transiciones de rol y el equilibrio trabajo-vida familiar. La muestra evaluada fue de 311 directivos de las Instituciones de Educación Superior. La presente investigación tuvó un enfoque cuantitativo a través de la aplicación de ecuaciones estructurales y modelos estructurales moderados. Los hallazgos demostraron que la interacción entre las transiciones de rol laboral al rol familiar con el equilibrio trabajo-vida familiar tiene una relación negativa y no significativa. En tanto que las preferencias de segmentación y las preferencias de integración no moderan la relación entre las transiciones de rol laboral al rol familiar y el equilibrio trabajo-vida familiar. Por otro lado, la relación entre las transiciones de rol familiar al rol laboral es positiva pero no significativa, en tanto que la interacción entre las preferencias de segmentación y las transiciones de rol familiar a rol laboral con el equilibrio trabajo-vida familiar es negativa. Sin embargo, la preferencia de integración si modera la relación entre las transiciones de rol familiar al rol laboral y el equilibrio trabajo-vida familiar. / The work-family interface has been defined in terms of role conflict, interference, satisfaction, interdependence, facilitation, enrichment and balance. The present research focused on determining whether role transitions are related to work-family balance. Specifically, it was analyzed if the preference of segmentation and preference of integration of work and family domains moderate the relationship between role transitions and work life- balance. The sample constituted in 311 executives of Higher Education Institutions who were evaluated. The research design was of a quantitative and transversal type, using multivariate analysis techniques such as confirmatory factor analysis, structural equations and moderate structural models. The findings showed that the interaction between work role transitions to the family role with work-life balance has a negative and not significant relationship. In so far as segmentation and integration preferences do not moderate the relationship between work role transitions to the family role and work-life balance. On the other hand, the relationship between family role transitions to the work role is positive but not significant; but nevertheless the interaction between segmentation preferences and family role transitions to work roles with work-life balance is negative. However, the preference for integration does moderate the relationship between family role transitions to the work role and the workfamily balance.

El propósito de esta investigación fue analizar el gobierno corporativo desde la perspectiva de la dualidad CEO-Chairman y su relación con la eficacia del control del directorio. Esta relación se analizó a través de un enfoque cuantitativo de diseño no experimental, usando fuentes de datos primarias y secundarias. Se seleccionó una muestra de 347 empresas con ventas mayores a US$ 5’000,000, a las cuales se les suministró un cuestionario para medir la variable eficacia del control del directorio. Para medir la variable dualidad CEO-Chairman se hizo uso de información secundaria; así mismo, se realizó una verificación sobre el funcionamiento de la dualidad. Se encontró que la dualidad CEO-Chairman se relaciona de forma significativa con los constructos de la eficacia del control del Directorio reflejada como el desempeño de directorios independientes y la supervisión de riesgo. El resultado de la relación de dualidad CEO-Chairman y desempeño de directores independientes se muestra inverso, mientras que con la supervisión de riesgo este se vuelve directo. En conclusión, los resultados obtenidos aportan teóricamente al conocimiento respecto a las prácticas del buen gobierno corporativo. / The purpose of the present investigation was to analyze the CEO-Chairman duality and its relationship with the effectiveness of the control over the board of Directors; This was done through a quantitative approach to non-experimental design, using data from primary and secondary sources. A sample of 347 companies with sales over US$ 5’000,000 was selected, and a questionnaire was applied to their members of the board of directors, in order to measure the variable effectiveness of the control over the board. On the other hand, to measure the CEO-Chairman duality variable, secondary information was used, as well as a verification on the operation of said duality. It is concluded that the duality is significantly related to the performance evaluation constructs of independent directories and to risk supervision. With these results, new knowledge is generated about the principal-agent relationship in large Ecuadorian companies, which will help shareholders to make decisions about whether or not to adopt duality in their companies.

En la actualidad, las empresas interactúan en un entorno cada vez más dinámico y competitivo, donde la innovación y la eco-innovación son consideradas componentes esenciales de la estrategia. De manera particular, la eco-innovación impulsa el desarrollo sostenible de las empresas y busca mejorar su desempeño. En este sentido, la presente investigación se enfocó en explicar empíricamente el impacto de la eco-innovación en el desempeño de las empresas. Por esta razón, esta investigación adoptó un enfoque cuantitativo, explicativo, no experimental de corte transversal. Específicamente, se estudió el impacto que tienen la eco-innovación organizacional, de proceso y de producto en el desempeño medioambiental y en el desempeño de mercado y financiero de empresas manufactureras. El estudio fue realizado en el contexto de países en vías de desarrollo y utilizó una muestra de 214 empresas manufactureras localizadas en Colombia, Ecuador y Perú. El análisis estadístico de los datos fue realizado mediante un modelo de ecuaciones estructurales estimado por máxima verosimilitud. Los resultados sugieren que únicamente la ecoinnovación organizacional y la eco-innovación de proceso tiene un impacto directo positivo y significativo tanto en el desempeño medioambiental como en el desempeño de mercado y financiero de las empresas manufactureras, mientras la eco-innovación de producto no lo tiene. Asimismo, otro de los principales hallazgos es que la eco-innovación organizacional tiene un impacto indirecto y significativo en la eco-innovación de producto, en el desempeño medioambiental y en el desempeño de mercado y financiero. Finalmente, la eco-innovación de proceso no tiene un impacto indirecto y significativo en los dos tipos de desempeño indicados. / At present, companies interact in an increasingly dynamic and competitive environment, where innovation and eco-innovation are considered essential components of the strategy. In a particular way, eco-innovation promotes the sustainable development of companies and seeks to improve their performance. In this sense, the present research focused on explaining empirically the impact of eco-innovation on the performance of companies. For this reason, this research adopted a quantitative, explanatory, non-experimental, crosssectional approach. Specifically, the impact of organizational, process and product ecoinnovation on environmental performance and market and financial performance of manufacturing companies was studied. The study was conducted in the context of developing countries and used a sample of 214 manufacturing companies located in Colombia, Ecuador and Perú. The statistical analysis of the data was performed using a structural equation model estimated by maximum likelihood. The results suggest that only organizational eco-innovation and process ecoinnovation have a positive and significant direct impact on environmental performance as well as on the market and financial performance of manufacturing companies, while product eco-innovation does not have it. Likewise, another of the main findings is that organizational eco-innovation has an indirect and significant impact on product eco-innovation, environmental performance and market and financial performance. Finally, process ecoinnovation does not have an indirect and significant impact on the two types of performance indicated.

Among the critical issues facing policy and decision makers is how to improve the regional innovation systems (RISs), as such improvement enhances the development of organizational innovative capacities, encourages innovation performance (IP), and consequently helps achieve sustainable economic development. Results of the present study allowed the construction of the institutional map of an RIS, for understanding the role of formal and informal institutions that compose the institutional framework, which enable or hinder the IP within the organizations of the quadruple helix. The RIS of Medellin was used as an instrumental case study, and the research was conducted using a qualitative, cross-sectional design, semi-structured interviews as data collection method and thematic analysis as data processing method. Research findings remark the importance of innovation supportive culture, as the main informal institution affecting the IP, as well as the crucial role of the investment, incubation and acceleration of innovation projects, through formal institutional mechanisms enabled by private and public actors. Collaboration and interaction are the rationale behind the existence of an RIS; reason why when analyzing the institutions of an RIS it is logical to find that many of them are related to these particular factors. Findings also suggest that informal institutions exert a greater influence over the IP of organizations in an RIS, than formal ones, but both types of institutions are very important, and should be complementary.

En esta investigación se revisó la literatura reciente sobre el bienestar financiero y la calidad de vida subjetiva, así como evidencia sobre sus relaciones y variables asociadas. Se asume que las finanzas es uno de los dominios de la vida de un individuo, así como lo es la salud, la alimentación o la familia. De esta forma, se buscó establecer la relación entre la calidad de vida subjetiva, el bienestar financiero, la autopercepción de salud física y mental, y el status financiero en una muestra de trabajadores profesionales de la ciudad de Guayaquil, Ecuador. Como indicador de la calidad de vida subjetiva se usó la Escala de Satisfacción con la Vida, que corresponde a una medida de su componente cognitivo. Se realizó una revisión de la literatura de las variables relacionadas con los factores asociados con el bienestar financiero. Se observó que existe escasa evidencia científica tanto en Ecuador en particular como en Latinoamérica en general. En general los autores coinciden en que las personas enfrentan grandes desafíos con respecto a las alternativas para mejorar su bienestar financiero y su calidad de vida subjetiva. También se observó que existen algunos estudios que han aportado evidencia científica sobre la relación entre la calidad de vida subjetiva y la satisfacción con la alimentación, así como los principales predictores de la calidad de vida subjetiva, principalmente en la población de personas de 60 años o más, es decir, en adultos mayores. Además, en esta investigación se revisaron las diferentes técnicas econométricas aplicadas de acuerdo a la literatura, optándose por los modelos lineales generalizados como la técnica más adecuada para modelar las variables planteadas. Las principales escalas y sub escalas utilizadas en esta investigación fueron las siguientes: Escala de Satisfacción con la Vida; Escala de Angustia (Estrés)/Bienestar Financiero; Calidad de Vida Relacionada con la Salud; Escalas de Depresión, Ansiedad y Estrés; y Escala de Conducta hacia el Endeudamiento, con las sub-dimensiones de la Conducta Hedonista y Conducta Austera. Se utilizaron diferentes coeficientes de correlación para calcular la fuerza de la relación entre las variables, dependiendo de la tipología de las mismas (cuantitativas o continuas). Se usaron modelos lineales generalizados para las estimaciones de los modelos, principalmente por la flexibilidad para suponer la distribución del error estocástico. Se obtuvo una correlación positiva y significativa entre Satisfacción con la Vida y bienestar financiero. Además, se obtuvo que los factores determinantes del bienestar financiero fueron ingreso, número de niños viviendo en el hogar, variables relacionadas con la salud física y mental, y conducta hedonista. A partir de lo anterior, la principal conclusión de este estudio es que los resultados pueden servir como evidencia para el diseño de políticas públicas locales que contribuyan al bienestar financiero de los trabajadores profesionales de Guayaquil. Palabras Clave: Bienestar financiero, Calidad de vida, Trabajadores, Conducta hedonista, Políticas públicas. / In this research, we reviewed the recent literature on financial well-being and subjective quality of life, as well as evidence on their relationships and associated variables. It is assumed that finance is one of the domains of an individual's life, as is health, food or family. In this way, we sought to establish the relationship between subjective quality of life, financial well-being, self-perception of physical and mental health, and financial status in a sample of professional workers from the city of Guayaquil, Ecuador. As an indicator of subjective quality of life, the Life Satisfaction Scale was used, which corresponds to a measure of its cognitive component. A literature review of the variables related to the factors associated with financial well-being was conducted. It was observed that there is scarce scientific evidence both in Ecuador in particular and in Latin America in general. In general, the authors agree that people face great challenges with respect to alternatives to improve their financial well-being and their subjective quality of life. It was also observed that there are some studies that have provided scientific evidence on the relationship between subjective quality of life and satisfaction with food, as well as the main predictors of subjective quality of life, mainly in the population of people aged 60 or older more, that is, in older adults. In addition, this research reviewed the different econometric techniques applied according to the literature, opting for generalized linear models as the most appropriate technique for modeling the variables proposed. The main scales and subscales used in this investigation were the following: Satisfaction with Life Scale; Scale of Anguish (Stress) / Financial Well-Being; Quality of life related to health; Scales of Depression, Anxiety and Stress; and Scale of Conduct towards Indebtedness, with the sub-dimensions of the Hedonist Behavior and Austere Behavior. Different correlation coefficients were used to calculate the strength of the relationship between the variables, depending on the type of variables (quantitative or continuous). Generalized linear models were used for the estimates of the models, mainly because of the flexibility to assume the distribution of the stochastic error. A positive and significant correlation was obtained between Satisfaction with Life and financial well-being. In addition, it was found that the determinants of financial well-being were income, number of children living in the household, variables related to physical and mental health, and hedonistic behavior. Based on the foregoing, the main conclusion of this study is that the results can serve as evidence for the design of local public policies that contribute to the financial well-being of Guayaquil's professional workers. Keywords: Financial well-being, Quality of life, Workers, Hedonistic behavior, Public policies.

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.

Entrepreneurship in Latin-American is high compared to other regions. However, there is little innovation. (Lederman, Messina, Pienknagura, & Rigolini, 2014). Lumpkin and Dess (1996) highlighted that holding an Entrepreneurial Orientation (EO) relays on possessing five dimensions that contribute to a Firm Performance (FP). Therefore, a question arises about to what extent firms from emerging markets, such as Colombian companies, possess this orientation and to what extent EO has presented a positive relationship on their FP. In addition, to what extent these firms that implemented Knowledge Management (KM) practices have seen the EO-FP relationship influenced. Few studies are found that reflect the reality of firms from Latin-American markets in this context (Chen, Saarenketo, & Puumalainen, 2016; Martin & Javalgi, 2016) A quantitative, cross-sectional and correlational research was conducted in a sample of Medellin companies. This research found that there is a positive significant relationship between KM and FP on Colombian companies, although this relationship is fully mediated by EO. This should encourage managers from emerging economies to implement KM practices that have a positive effect on their Sales Growth. However, these practices ought be accompanied simultaneously with the promotion of EO. EO must be identified as a “strategic dimension” that companies recurrently present in a given period of time (J. G. Covin & Slevin, 1991). Also, EO does not remain constant over time; companies that possess it may show phases of high EO and low EO, based on their strategic reactions to environmental conditions (Wales, Monsen, & McKelvie, 2011). As KM practices influence positively firm innovation performance (Alegre, Sengupta, & Lapiedra, 2011), companies can expect better innovation performance when they implement KM practices. However, without EO, KM may not have any effect on a company’s Sales Growth, since it needs EO to mediate in such relationship. One of the limitations of this research is that the data collected is mainly from Medellin’s companies. Also, the small sample size of 90 observations may present another limitation. Similar studies from different countries in Latinamerica can be carried out and comparative analyses can be performed with this research in the Colombian context.

A fundamental assumption of rational choice model is that customers most of the time choose the best price that minimizes their expenses, but according the Behavioral Economics optimal consumer decision-making can be affected by multiple types of heuristics or behavioral biases. The purpose of this research was to determine and quantify the joint effect of overconfidence bias, framing bias, choice overload bias and smartphone addiction on the optimal usage under nonlinear pricing applied to mobile broadband customers in Ecuador. The analysis was quantitative, using information collected in the field and matched with billing information of 541 mobile customers. The quantitative research design included two steps. First step involved the construction of scales each behavioral bias (independent latent variables) and non-optimal usage (dependent variable); second step involved the estimation of relationship of independent variables with dependent variable. Findings evidenced that 71% mobile broadband customers deviated from the optimal level of use contracted under nonlinear pricing plan (naïve customers). Empirical results found that customers who demonstrated a certain degree of overconfidence bias, framing bias, smartphone addiction, and choice overload bias are more prone to choose wrongly their nonlinear pricing, under/overusing the minimum data allowance including in the plan. The results have important implications for business management, because if mobile firms can identify “naïve consumers” could take advantage from complex nonlinear pricing to maximize profits. For social perspective, the first concern should be the recognition of phenomena of behavioral bias is high enough in customers and can become a market failure under specific conditions, harming customers in particular women and aged users.

The research question of this study was identify the variables that determine the market value of a high-performance soccer player, in the five major leagues around the world (Premier League, Bundesliga, LaLiga, Serie A and Ligue 1). The research question allowed to establish a hierarchy-of-hypotheses (see Table 1). Consequently, there are nine major hypothesis, 45 sub-hypothesis, and 20 sub-sub-hypothesis. The sample was conformed by 335 soccer players for the main five soccer leagues, distributed according to the proportional affixation for random stratified sampling. . The information for 45 control variables and the endogenous variable for 335 ssocer players was collected from the transfermarkt.de. website that is an online community (crowd wisdom). The 45 control variables that arised from the literature systematic review had having to be grouped in these major major hypotheses (smaller clusters or groups). For this purpose, these variables was categorized in talent indicators and external variables. Through this categorization, the 45 control variables were grouped together in five clusters according to the similarity between them. Finally, nine smaller clusters or groups were formed using divisive hierarchical clusters according to the dissimilarity between the variables. More variables had to be incorporated for some groups because the operationalization process for six variables generated other variables. In that order was structured a hierarchy-of-hypotheses (HoH), 45 variables take place to nine major hypothesis (groups), 45 sub-hypothesis (variables that belong for each group), and 20 subsub-hypothesis (levels of each variable). To answer the research question taking into account model uncertainty (variable selection) in a framework with 35 billion potential models, it was used a hedonic regression framework, and implement Bayesian model averaging (BMA) through Markov vii chain Monte Carlo model composition (����3 ). To deal with endogeneity issues, instrumental variable Bayesian model averaging (IVBMA) was implemented as well. In the latter case, the potential endogeneity between Market value and Performance was addressed using Performance as an instrumental variable and Coach and Change of team as instruments. Using the BMA mechanism, there is evidence to support the sub-hypothesis H1m (PIP=1.000), H3a (PIP=1.000), H5c (PIP=1.000), H6b (PIP=1.000), H1b (PIP=0.993), and H3c (PIP=0.992). Therefore, four variables (Performance, National team, Age, Goals, and Recognition under-21) are a value-drivers that generate a positive effect on the market value of the soccer player; and one variable (Age squared) is a negative value-driver that generates a negative effect on the market value of the soccer player. Using the IVBMA mechanism, there is evidence to support the sub-hypothesis H1m (PIP=1.000), H3a (PIP=1.000), H5c (PIP=1.000), H6b (PIP=1.000), H3e (PIP=0.997), and the sub-sub-hypothesis H7b1 (PIP=1.000). Therefore, four variables (Performance, National team, Age, First division, and Recognition under-21) are a value-drivers that generate a positive effect on the market value of the soccer player; and one variable (Age squared) is a negative value-driver that generates a negative effect on the market value of the soccer player.

Recent cases of unethical behavior in organizations indicate the need to carry out empirical research to determine the existence of a relationship between ethics and leadership, demanded by society and prescribed by various academic theories. For this reason, through the conduction of non-experimental, cross-sectional, quantitative research, it is sought to make a process of falsification of the theoretical proposals that establish a relationship between the ethical position and leadership styles in the context of a municipal mayoralty. In the development of the research, the responses of 219 leaders were satisfactorily received, answering questions from two psychometric instruments of wide recognition and academic validity, the Ethics Position Questionnaire (Forsyth, 1980) and the Multifactor Leadership Questionnaire (Bass & Avolio, 1993). They were carried out both through an exploratory data analysis and a confirmatory factor analysis, and four models of structural equations that tested the existence of a relation between the ethical position and the styles of leadership; it was also possible to identify the influence exerted by the different ethical positions in each one of the styles of leadership in a local public administration. These findings facilitate the identification of ethical leadership models in local public organizations, and contribute towards the empirical demonstration of the current discussion on the relationship between ethics and leadership in organizations.