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Hosted by:
Venue: Swissotel LimaVenue: Swissotel Lima
Hosted by
www.balas.org
Balas 2014 Call for PapersLocal Responses to Global Challenges: Lessons from smaller economies
April 9-12, 2014 – North West, Mt. Hope, Trinidad and TobagoHyatt Regency Hotel, Port of Spain
Hosted by Arthur Lok Jack Graduate School of Business, University of West Indies
Whether you are an advocate of globalization, semi-globalization or localization, the reality in business is that dynamic and unpredictable market forces, fast paced technological developments, social movements, and climate change do have a profound impact in the strategy and the organization of your business.
What are the most significant Global Challenges for Business? What opportunities these Global Challenges present to the LATAM and Caribbean Region? How companies in the region have been able to embrace the chaos, uncertainty and ambiguity of markets and technologies for their own advantage? How companies read, understand, and develop foresight using their operating atmosphere and other contexts as sources of inspiration? These are pressing questions our academic community has must tackle.
One of the most important aspects of the conference is to explore, compare and contrast how the local responses to global challenges change relative to the size and resource base of a country or regional economy.
Papers in all areas of business and economics are invited. We especially invite those that explore the challenges of size and resources for economic growth and the role that business, governments and NGOs play in addressing these challenges.
2014 THEME TRACKS• Size Matters: The Effects of Globalization on Small Economies• The Role of the State and State Owned Enterprises in the development of business
GENERAL LATIN AMERICAN BUSINESS TRACKS• Accounting, Taxation, and Management Information and Control Systems• Consumer Behavior • Corporate Finance • Culture, Social, and Ethical Issues • Economic Environment and Regional Integration • Entrepreneurship • Financial Markets, Investment and Risk• Human Resource Management• Information Technology Management• Management Education and Teaching Cases• Marketing Management • Strategies for Global Competitiveness• Supply-Chain and Operations Management Paper Submission Deadline 1 November 2013More information at balas.org or by email at [email protected]
Annual Conference BALAS 20132
Contents
President’s Welcome 3
Host School Welcome by the President 4
Program Chair’s Welcome 5
BALAS Executive Committee 2013 6
BALAS 2013 Institutional Members 7
Track Chairs List 8
Reviewers List 9
Conference Schedule Overview 12
Conference Schedule 13
Author Index 21
Hotel Floor Map 23
Sponsors’ Recognition 24
Free markets and Social Inclusion: Towards a common goal 3
President’s Welcome
Dear BALAS Conference Attendees,
Welcome to Lima and to the 2013 BALAS Conference!
Your ESAN hosts—Jorge Talavera, Nancy Matos and Mariella Olivos—have worked diligently to organize a timely, interesting and engaging conference around the theme of free markets and social inclusion.
As I step down from my two-year tenure as BALAS president, I can only say it has been an honor and a privilege to have served in that capacity. When I assumed office I formulated one bold goal: to increase the visibility, credibility, prestige and impact of BALAS among its constituencies.
Happily, we have been able to achieve that. Membership—both individual and institutional—is strong, as is our financial position. BALAS continues a “special issue” publications relationship with the Journal of Business Research and with Academia, we will be shortly launching a Working Paper Series thanks to former BALAS president Robert Grosse, and we have successfully re-engaged a number of BALAS stalwarts from years past and designated them as “BALAS Fellows” outstanding scholars in the field, beginning with six last year.
Whatever positive contribution I have made as president can only be attributed to the collaboration, collegiality, commitment, and creativity of an outstanding executive committee and an equally outstanding executive director, Victoria Jones, who has toiled long, hard, and passionately to make BALAS what it is today.
Incoming president Luis Sanz of INCAE is a true gentleman and a scholar who knows BALAS well. Under his tenure, BALAS will surely ascend to even greater heights.
In the meantime, we are happy you are here to partake of the conference and savor Peru’s rich culture and unsurpassed cuisine. Far too many conferences are scholarly but not fun---BALAS strives to achieve both….and we do! So learn, share, network, and enjoy!
Jerry Haar
BALAS President
Annual Conference BALAS 20134
Host School Welcomeby the President
Dear BALAS participant,
We offer you our warmest welcome to Lima-Peru and the 2013 Annual Conference of the Business Association of Latin American Studies.
Esan University was founded in 1963 under the auspices of the governments of Peru and the United States that entrusted its start up to Stanford University. ESAN University was the First Graduate School of Business in Latin America and currently offers high quality Programs in Business, MBA, Bachelor Degrees, through the School of Management and Economics, the School of Engineering and the School of Law and Social Sciences and programs in Executive Education. Our institution is high oriented to research in Management Sciences and this occasion hosting the BALAS Conference is a reaffirmation of our commitment with the advance of the education and research in management that will support and will improve the best practices and innovation in our region. Thanks to all the academicians and contributors who are presenting their papers.
As President of ESAN University I would like to express again my gratitude to all of you for coming to the BALAS 2013 Conference we are honored to host this renowned conference.
Best wishes and enjoy the attractions of our country!
Jorge TalaveraPresident, ESAN University
Free markets and Social Inclusion: Towards a common goal 5
Program Chair’s Welcome
Dear BALAS participants,
On behalf of ESAN University we are proud to be your hosts in the context of our 50th Anniversary celebration; and have assumed the responsibility of organizing BALAS 2013 Annual Conference.
One of the themes of our conference is “Free Markets and Social Inclusion: Towards a common goal” that reflects the Economic model of development that our country has successfully achieved in these years. The other theme is “Asia Pacific with Latin America”.
I would like to express my gratitude to the Track chairs and Reviewers who have contributed their time and expertise for the development and success of the BALAS Annual Conference.
We must also thank our Key Speakers at the plenary “Asia Pacific with Latin America” Juan Carlos Capuñay – Director of APEC and specialized forums in TLC; Alfredo Ferrero Diez Canseco – Former Minister of External Trade and Tourism; Pablo de la Flor- Former Peruvian Vice Minister of International Trade and our team that dedicated time and were responsible for the logistics and infrastructure of the conference.
Once again welcome to BALAS 2013 in Lima-Peru. We are convinced that you will benefit from attending this year’s Annual Conference and we are delighted to share our beautiful country with you.
Sincerely,
Nancy Matos,BALAS 2013 Program Chair
Annual Conference BALAS 20136
BALASExecutive Committee 2013
President – Jerry Haar, FIU
Immediate Past-President/Awards – Esteban R. Brenes, INCAE
VP of Membership/Nominations and President-Elect – Luis Sanz, INCAE
Central America & Caribbean – Miguel Carrillo, Arthur Lok Jack
Brazil – Jorge Carneiro, PUC - Rio
US/Canada – Stephen Salter - UTEP
Northern South America – Maria Helena Jean, IESA
Europe - Xavier Mendoza, ESADE
Mexico - María Merino, ITAM
Southern South America – Carlos Alsua, UAI
Treasurer – Sergio Olavarrieta, USACH
Executive Secretary –Victoria Jones, Seattle University
2013 Program Chairs – Jorge Talavera and Nancy Matos, ESAN
Free markets and Social Inclusion: Towards a common goal 7
BALAS 2013Institutional Members
Arthur Lok Jack Graduate School
Boler School of Business - John Carroll University
Bringham Young University
CENTRUM - Pontificia Universidad Catolica del Peru
CESA
COPPEAD
EGADE - ITESM Campus Monterey
ESADE
ESAN
ESPAE ESPOL
Florida International University
IDE Centro De Transferencia Y Desarrollo De Tecnología
IESA
INCAE
INSPER
ITAM
Northeastern University
ORT
PUC Rio
Seattle University
UAI
Univ. Sergio Arboleda
Universidad CNCI de Mexico
Universidad de Chile
Universidad De La Salle, Buitra
Universidad De Las Americas Puebla
Universidad Del Norte
Universidad San Francisco de Quito
University of Puerto Rico
University of San Diego
University of Texas at San Antonio
UTEP
Annual Conference BALAS 20138
Track Chair’s List
Track Track Chair
Free Markets and Social Inclusion (2013 theme track)
Kety Jauregui, ESAN
Accounting, Taxation, and Management Information and Control Systems
Stephen Salter, UT El Paso and Ervin Black, BYU
Consumer Behavior Jose Mauro Hernandez, Centro Universitario da FEI
Corporate Finance Rafael Schiozer, FGV
Culture, Social, and Ethical Issues Chris Robertson, NEU
Economic Environment and Regional Integration Robert Grosse, George Mason University
Entrepreneurship John Sargent, UT Pan American
Financial Markets, Investment and Risk Urbi Garay, IESA
Human Resource Management Carlos Alsua, UAI
Information Technology Management Jose Robles. ESAN
Management Education and Teaching Cases Jorge Alfonso Gonzales, ITESM
Marketing Management Sergio Olivarietta, Universidad de Chile
Strategies for Global Competitiveness Xavier Mendoza, ESADE
Supply-Chain and Operations Management Henrique Correa, Rollins College
Free markets and Social Inclusion: Towards a common goal 9
Reviewers ListName Institutional Affiliation
Alexandre Pignanelli EAESP/FGVAlexandre Di Miceli da Silveira University of Sao PauloAli Kazeminia ESADE Business SchoolAna Maria Majano INCAE Business SchoolAndre Carvalhal Pontifical Catholic University of Rio de JaneiroAndrea Maria Accioly Fonseca Minardi Insper Instituto de Ensino e PesquisaAngela da Rocha Pontifical Catholic University of Rio de JaneiroAristides Alfredo Vara-Horna Universidad de San Martín de PorresArnoldo J. Rodriguez Webster UniversityBento Alves Costa Falcudades Alves FariaCarlos Alsua Universidad Adolfo IbáñezCarlos Correa FDCCarlos Z. Jaramillo IESA / Department of FinanceCarlos Alberto Rodriguez Maillard EGADECarmen Leonor Martinez-Lopez City University of New York/BMCCChris Robertson Northeastern UniversityChris Skousen Utah State University/School of AccountancyClaudio Bonilla University of ChileConstanza Bianchi Queensland University of TechnologyDane Blevins University of Texas at DallasDario Moreira Pinto Junior UNIVERSITY CENTER OF BARRA MANSA - UBMDenise Silva Ferreira Juvenal Prefeitura da Cidade do Rio de JaneiroDiego Carlos Cueto Universidad ESANEdgardo Bravo Universidad ESANEdmundo Lizarzaburu Eduardo Basso Junior Universidade Luterana do Brasil - Porto AlegreEduardo Kazuo Kayo Unviersity of Sao PauloEduardo Pablo Tulane University / IESAEliana Mariela Werbin Economics Faculty - National University od CordobaElizabeth Robles University of Puerto Rico/Department of ManagementEnrique Louffat Universidad EsanErich Brockmann University of New OrleansErvin Black Brigham Young University
Esteban Brenes INCAE/Catedra Steve Aronson de Estrategia y Agrone-gocios
Evandro Luiz Lopes Universidade Nove de JulhoFabrizio Noboa Universidad San Francisco de Quito
Flávio Régio Brambilla Universidade de Santa Cruz do Sul (UNISC) & Universi-dade Luterana do Brasil (ULBRA)
Flávio Bressan Pontificia Universidade Católica de Campinas - PUC-Campinas
Gary Braun U of Texas at El PasoGetulio Akabane Anhanguera Educacional
Annual Conference BALAS 201310
Name Institutional AffiliationGina Maria Pipoli UNIVERSIDAD DEL PACIFICOGiorgio Gotti University of Texas at El Paso
Gyorgy Varga Irineu GianesiFCE/BrasilInsper
Jacobo Ramirez Copenhagen Business School CBS
Jairo Laser Procianoy Escola de Administração/Universidade Federal do Rio Grande do Sul/Departamento de Finanças
Jan Brinckmann ESADE Business School, Ramon Llull UniversityJeri Rubin University of Alaska AnchorageJerry Haar FIU College of Business, Mgmt & International BusinessJessie Olien University of North Carolina, CharlotteJoao Turrioni UF ItajubaJohn Sargent UTPA
Jorge Andres Rodriguez Rodriguez ESADE Business School-Ramon Llull University-Opera-tions management and Innovation
Jorge Ayala University of Puerto RicoJorge Alfonso González ITESMJorge Guillen ESANJose Luis Ruiz Universidad de ChileJose Afonso Mazzon PPGA/FEA/USPJose Mauro C. Hernandez Centro Universitário da FEIJudith Cavazos UPAEPLelis Balestrin Espartel PUCRSLilian Cristina Schreiner USPLourdes Susaeta IESE Business SchoolLucas Barros University of Sao PauloLucien Jacques Geargeoura FAGEN / Universidade Federal de UberlândiaLuis Andrés Araya Castillo Department of Administration, University of ChileLuis Felipe Scavarda PUC/RioLuiz Brito EAESP/FGVLuiz Di Serio EAESP/FGVMarcos Primo UFPEMarcus Vinicius Braga Alves Marquette UniversityMargarete Kalinowski ESADE Business School
Maria Melina Segura INCAE/Catedra Steve Aronson de Estrategia y Agrone-gocios
Marta Olívia Rovedder de Oliveira Escola de Administração/Universidade Federal do Rio Grande do Sul/Departamento de Marketing
Martha Corrales EGADE Business School
Martin Ernesto Quadro Economics Faculty - National University of Cordoba (Argentina)
Mauro José Oliveira Centro Universitário da FEIMaximiliano González UniandesMichael Abebe The University of Texas-Pan AmericanMichael J. Pisani Central Michigan UniversityMiguel Ramos The University of Texas at El Paso
Free markets and Social Inclusion: Towards a common goal 11
Name Institutional AffiliationMohammed Anower Hossain University of Applied Sciences and Arts DortmundNorma Ortiz IESA / Department of FinancePablo Farias University of ChilePaulo Cauchick Miguel UFSCPaulo Henrique Prado Federal University of ParanaPedro Parada ESADE Business School, Ramon Llull UniversityPeter Wanke COPPEAD/UFRJ
Rafael F. Schiozer Fundacao Getulio Vargas / Business School (Sao Paulo, Brazil)
Raquel de Freitas Oliveira Central Bank of BrazilRicardo Fernando Paiz Universidad del Valle de GuatemalaRicardo Ratner Rochman FGV-EESPRoberto Martins UFSCarRonald Freeze Emporia State UniversitySergio Olavarrieta Universidad de ChileSergio Roberto da Silva FGV-EAESP-Fundacao Getulio Vargas-SP-BRASILSibin Wu University of Texas-Pan AmericanTania Modesto Veludo de Oliveira EAESP-FGVTheodoro Agostinho Peters filho FEI University/B.A. DepartmentTugba Kalafatoglu ESADE Business SchollUrbi Alain Garay IESAVagner Cavenaghi FEB/UNESPVictoria Jones Seattle UniversityVinicio Souza Almeida UFRN/PPGAWashington Luiz Pereira Soares UNISANTA - UNIVERSIDADE SANTA CECÍLIAWilliam Eid Junior FGV/EAESP
Xavier Mendoza ESADE Business School / Ramon Llull University / Strate-gy and General Management
Annual Conference BALAS 201312
Conference Schedule OverviewRegistration
opens at8:30am
Swissotel Foyer9 a.m. 10 a.m. 11 a.m. 12 m. 1 p.m. 2 p.m. 3 p.m. 4 p.m. 5 p.m. 6 p.m. 7 p.m. 8 p.m.
Wednesday March 20, 2013Hotel Foyer 10:30a -11:00a
Coffee Break
Inka I11:00a - 12:30p
Consumer Behavior
2:00p - 3:30pAccounting, Taxation, and Management
Information and Control Systems
3:45p - 5:00pPanel Strategy
and Agribusiness
5:15p - 6:30pPanel-”Devel-oping effective
Models to raising funds for Univer-
sities in LA”
Inka II11:00a - 12:30pCulture, Social,
and Ethical Issues
2:00p - 3:30pFree Markets
and Social Inclusion
3:45p - 5:00pPanel - Meet the
Editors
5:15p - 6:30pPanel - Interna-tional Partner-
ships for Business Education
Inka III
11:00a - 12:30pFinancial Markets,
Investment and Risk - fund flows
2:00p - 3:30pMarketing
Management
3:45p - 5:00pPanel - Entre-
preneurship Education
Paracas Ballroom
9:00a - 10:30aWelcome Session
12:30p - 2:00pLunch
6:30p - 8:00pWelcome Cocktail
Restaurant
7:30p - 9:00pSub-group Meeting
- Institutional Representatives
Thursday March 21, 2013Hotel Foyer 10:30a - 11:00a
Coffee Break
Inka I
9:00a - 10:30aFinancial Markets,
Investment and Risk I
2:00p - 3:30pCorporate Finance I
3:45p - 5:00pPanel - Academy of International
Business
5:15p - 6:30pPanel - Entrepre-
neurship
Inka II
9:00a - 10:30aHuman
Resource Management I
2:00p - 3:30pEntrepreneur-
ship
3:45p - 5:00pPanel - Mergers and acquisitions in Latin Amer-
ica: Bridging cultures and
setting trends”
5:15p - 6:30pPanel - Service International-
ization
Inka III
9:00a - 10:30aManagement
Education and Teaching
Cases II
2:00p - 3:30pStrategies for
Global Competitiveness
3:45p - 5:00pPanel - Small
Economies, Big Opportunities
Paracas Ballroom
11:00a - 12:30pPlenary
12:30p - 2:00pLunch
7:30p - 9:00pCelebration Dinner
Friday March 22, 2013Hotel Foyer 10:30a - 11:00a
Coffee Break
Inka I
11:00a - 12:30pFinancial
Markets, Invest-ment and Risk II
Inka II
9:00a - 10:30aEntrepreneur-ship - interna-
tional
11:00a - 12:30pManagement Education and
Teaching Cases I
Inka III
9:00a - 10:30aInformation Technology
Management
11:00a - 12:30pHuman Resource
Management II
Paracas Ballroom
12:30p - 1:30pLunch
1:30p - 2:30pAnnual
Membershp Meeting
Free markets and Social Inclusion: Towards a common goal 13
Conference Schedule
Wednesday, March 20, 2013
9:00am
10105 9:00 am to 10:30 am Paracas BallroomWELCOME SESSION
10:30am
10201 10:30 am to 11:00 am Hotel FoyerCOFFEE BREAK
11:00am
10302 11:00 am to 12:30 pm Inka ICONSUMER BEHAVIOR
Track: Consumer Behavior“A Customer Satisfaction-Based Strategic Planning Method for Tourism Companies: Coping with Different Levels of Customer Loyalty.” Carlos Mello Moyano, UNISC - Universidade de Santa Cruz do Sul; Jorge Lengler; Carlos Alberto Callegaro, IUMA - Instituto Universal de Marketing em Agronegócio; Vanderlei Becker Ribeiro, UNISC - Universidade de Santa Cruz do Sul“Newspapers in the Digital Age: Antecedent Factors of Information Media Use.” Roberto Nogueira, Coppead/UFRJ; Paula Chimenti, Coppead/UFRJ; Jose Afonso Mazzon, PPGA/FEA/USP; Bianca Carvalho da Silva, Coppead/UFRJ; Luiz Felipe Hupsel Vaz, Coppead/UFRJ; Marco Aurélio de Souza Rodrigues, Coppead/UFRJ“Why Should I Accept Ads on my Mobile Phone? Factors Affecting Acceptance by Brazilian Teenagers.” Marcel Correia Lima, Pontifical Catholic University of Rio de Janeiro; Luis Fernando Hor-Meyll, Pontifical Catholic University of Rio de Janeiro; Jorge Brantes Ferreira, Pontifical Catholic University of Rio de Janeiro
10303 11:00 am to 12:30 pm Inka IICULTURE, SOCIAL, AND ETHICAL ISSUES
Track: Culture, Social, and Ethical Issues“Concern for Mother Nature. A women´s issue?” Nancy Matos, ESAN; Silvia González, ITESM, Mexico“Doing good in a macho world: critical perspectives on the gendered dimension of organizational responsibility.” Pilar Acosta, ESCP Europe; Mar Perezts, EM Lyon Business School“Leadership in Latin America: Insights into Complexities across Societies.” Nathalie Castano, Wayne State University; Mary Sully de Luque; Tara Wernsing, IE Business School; Enrique Ogliastri, INCAE; Rachel Gabel, Universidad del Pacífico; Jose Antonio Robles-Flores, Universidad ESAN; ROSA MARÍA FUCHS, UNIVERSIDAD DEL PACÍFICO
10304 11:00 am to 12:30 pm Inka IIIFINANCIAL MARKETS, INVESTMENT AND RISK - FUND FLOWS
Track: Financial Markets, Investment and Risk“Fund flows and performance in Brazil.” Luis Berggrun, Universidad Icesi; Edmundo Lizarzaburu“Mutual Fund Flow and Past Information: Is the Brazilian Investor Smart?” Gyorgy Varga, FCE/Brasil
Annual Conference BALAS 201314
12:30pm
10405 12:30 pm to 2:00 pm Paracas 2LUNCH
2:00pm
10502 2:00 pm to 3:30 pm Inka IACCOUNTING, TAXATION, AND MANAGEMENT INFORMATION AND CONTROL
SYSTEMSTrack: Accounting, Taxation, and Management Information and Control Systems“Grupo Maseca Risk Assessment and Risk Management.” Arnoldo J Rodriguez, Webster University; Brad Scott, Webster University; David Porras, Webster University“The Stock Market’s Reaction to Accounting Information: The Case of the Latin American Integrated Market.” Mauricio Melgarejo, INCAE Business School; Eduardo Montiel, INCAE Business School; Luis Javier Sanz Campos, INCAE Business School“The relationship between the level of maturity of the Strategic Purchasing Model and performance: An empirical study of Chilean organizations.” Ricardo Úbeda Sales, Universidad Adolfo Ibáñez; Carlos Alsua, Universidad Adolfo Ibáñez
10503 2:00 pm to 3:30 pm Inka IIFREE MARKETS AND SOCIAL INCLUSIONTrack: Free Markets and Social Inclusion“Innovations in Organizing Networks of Family Farmers in Brazil.” ZILMA BORGES SOUZA, Fundação Getulio Vargas; LUCIEL HENRIQUE DE OLIVEIRA, FGV/EAESP- Escola de Administração de Empresas de São Paulo“Public spaces and their effect on social cohesion: Public policy experience in Mexico.” Delfino Vargas, UNAM; Maria Merino, ITAM“Carbon Footprint Across the Coffee Value Chain: The Case of Costa Rican Coffee.” David Felipe Navichoc, CIMS-INCAE Business School; Bernard Kilian, INCAE Business School; Lloyd Rivera, CIMS-INCAE Business School
10504 2:00 pm to 3:30 pm Inka IIIMARKETING MANAGEMENT
Track: Marketing Management“How does proximity affect marketing cooperation? A study of agribusiness clusters in a Latin-American emerging economy.” Cristian Geldes, Universidad de La Serena; Christian Felzensztein, Universidad Adolfo Ibañez; Ekaterina Turkina, HEC Montreal, Canada; Aurelia Durand, HEC Montreal, Canada“Marketing and Sales organization in a “Brand-Focused Professional” multinational.” Teresa Cometto, Facultad de Administración y Ciencias Sociales, Universidad ORT Uruguay; Gaston J. Labadie, Facultad de Administracion y Ciencias Sociales/Universidad ORT Uruguay; Miguel Palacios, Executive Education ESCP Europe“Trust Formation in Online Services in Latin America: The Effect of Reputation and Familiarity, and the Moderating Role of Experience and Internet Penetration.” Eduardo Torres, Universidad de Chile; Cristobal Barra; Sergio Olavarrieta, Universidad de Chile
Free markets and Social Inclusion: Towards a common goal 15
3:45pm
10602 3:45 pm to 5:00 pm Inka IPANEL - STRATEGY AND AGRIBUSINESS
10603 3:45 pm to 5:00 pm Inka IIPANEL - MEET THE EDITORS
10604 3:45 pm to 5:00 pm Inka IIIPANEL - ENTREPRENEURSHIP EDUCATION
Track: Panel Entrepreneurship Education and CLADEA Entrepreneurship NetworkEducational experience in EntrepreneurshipAlejandro Lagunes, ITESM Puebla, Mexico and Armando Borda, Universidad ESAN Lima, Peru Tecnologico de Monterrey was founded in 1943. The educational model that was used during its first 35 years always intended to generate the required personnel by the established industries. However, because of the difficult economy that the country was facing during that time, this model would give a major turn in 1978 when the Entrepreneur Program was created. From this program several projects spawned to support entrepreneurship, such as: Academic Programs, Business Incubators and Accelerators, Technology Parks, Centers of enterprising families, among others, resulting in the consolidation of the Entrepreneurship environment at ITESM in 2008.CLADEA Latin American Entrepreneurship Network (Red Latinoamericana de Emprendimiento)The Network was launched in November 2009 in Guayaquil, Ecuador during Cladea Annual meeting. It was created to meet the needs of entrepreneurs under structured and systematic knowledge conditions. The primary objective of the network is to promote entrepreneurship and continuous innovation among students, alumni, researchers, professors and professionals from Latin American institutions, this is achieved through multilateral cooperative actions in order to shape a network of international entrepreneurs. To date, CLADEA Latin American Network of Entrepreneurship has 24 member institutions and along with its members it is developing 6 lines of new investigations related to the entrepreneurship subject. BALAS attendees are invited to know about CLADEA Latin American Entrepreneurship Network new projects.ESAN was founded as a graduate school of business in 1963 and as University in 2003. While traditionally the focus of the university was the training and education of highly qualified professionals to manage established companies, recently we have developed several initiatives to encourage our students, at both undergraduate and graduate levels, to pursue their own ideas and become high impact entrepreneurs. As part of these initiatives, we aim to generate an environment that not only facilitates the creation of new businesses but also strengths the capabilities of the ventures recently created. Current experience will be shared.
5:15pm
10702 5:15 pm to 6:30 pm Inka IPANEL “Developing effective Models to raising funds for Universities in LA”
Ajay Vinze, Ph.D. Associate Dean International ProgramsArizona State University | W. P. Carey School of Business
10703 5:15 pm to 6:30 pm Inka IIPANEL - INTERNATIONAL PARTNERSHIPS FOR BUSINESS EDUCATION
Annual Conference BALAS 201316
6:30pm
10805 6:30 pm to 8:00 pm Hotel FoyerWELCOME COCKTAIL
7:30pm
10906 7:30 pm to 9:00 pm hotel lobby with invitationSUB-GROUP MEETING - INSTITUTIONAL REPRESENTATIVES
Thursday, March 21, 2013
9:00am
20102 9:00 am to 10:30 am Inka IFINANCIAL MARKETS, INVESTMENT AND RISK I
Track: Financial Markets, Investment and Risk“Innovative Approaches for Financing Public-Private Partnerships in Latin America: Best Practices.” Sergio Rafael Bravo Orellana, Universidad ESAN/Instituto de Regulación y Finanzas“The impact of political risk on the sovereign spread: The case of Latin America and the Euro Zone.” Norma Ortiz, IESA / Department of Finance; Carlos Z Jaramillo, IESA / Department of Finance“Will I be paid after a Loss? Evaluating Conventional Versus Index Insurance Contracts in Ecuadorean Agriculture.” María José Castillo, Escuela Superior Politécnica del Litoral - ESPAE Graduate School of Management; Stephen Boucher, University of California - Agricultural and Resource Economics Department; Michael R. Carter, University of California - Agricultural and Resource Economics Department
20103 9:00 am to 10:30 am Inka IIHUMAN RESOURCE MANAGEMENT I
Track: Human Resource Management“Dispositional and Situational Differences in Motives to Engage in Organizational Citizenship Behaviors.” Felipe Guzmán, Universidad Adolfo Ibáñez/Centro de Innovación Emprendimiento y Tecnología; Alvaro Espejo, Universidad Adolfo Ibáñez / Escuela de Negocios“Impact of intimate partner violence against women in presenteeism and absenteeism in Lima-Peru: estimated cost based on wages.” Aristides Alfredo Vara-Horna, Universidad de San Martín de Porres“Variables that would influence on customer oriented management and salespeople performance.” leslier maureen valenzuela, universidad de Chile/ Facultad de Economía y Negocios/ Departamento de Administración; pedro ignacio leiva, Universidad de Chile/Facultad de Economía y Negocios/ Departamento de Administración
20104 9:00 am to 10:30 am Inka IIIMANAGEMENT EDUCATION AND TEACHING CASES II
Track: Management Education and Teaching Cases“Florida Ice & Farm: Sustainability Champion from an Emerging Economy.” John C. Ickis, INCAE Business School; Andrea María Prado, INCAE Business School; Ximena García-Rada, INCAE Business School“Quetsol: Energy and Development.” Felipe Perez Pineda, INCAE Business School; Ana Maria Majano, INCAE Business School; Pablo Roberto Blanco, CLACDS, INCAE Business School
Free markets and Social Inclusion: Towards a common goal 17
“Super Selectos: Winning the war against multinationals?” Esteban Brenes, INCAE/Catedra Steve Aronson de Estrategia y Agronegocios; Daniel Montoya, INCAE/Catedra Steve Aronson de Estrategia y Agronegocios“The Expropriation of Repsol-YPF.” Pin Ramón José, IESE Business School; Enrique Rodriguez Fernandez-Hidalgo, IESE Business School; Rodrigo Costamagna, IESE Business School; Lourdes Susaeta, IESE Business School
10:30am
20201 10:30 am to 11:00 am Hotel FoyerCOFFEE BREAK
11:00am
20305 11:00 am to 12:30 pm Paracas BallroomPLENARY
“Asia Pacific with Latin America” Juan Carlos Capuñay – Director of APEC and specialized forums in TLCAlfredo Ferrero Diez Canseco – Former Minister of External Trade and TourismPablo de la Flor - Former Peruvian Vice Minister of International Trade
12:30pm
20405 12:30 pm to 2:00 pm Paracas 2LUNCH
2:00pm
20502 2:00 pm to 3:30 pm Inka ICORPORATE FINANCE
Track: Corporate Finance“An investigation of the partial adjustment effect of Brazilian IPOs.” Rafael Plantier Castanho, Insper Instituto de Ensino e Pesquisa; Andrea Maria Accioly Fonseca Minardi, Insper Instituto de Ensino e Pesquisa; Rodrigo Menon Simões Moita, Insper Instituto de Ensino e Pesquisa“Private valuation of compensation stock options.” Diego Carlos Cueto, Universidad ESAN“Cultural Distance and its Effect on Cross-Border Entry Mode: Latin American Evidence.” Eduardo Pablo, Tulane University / IESA; Urbi Alain Garay, IESA; Maximiliano González, Uniandes
20503 2:00 pm to 3:30 pm Inka IIENTREPRENEURSHIP
Track: Entrepreneurship“Entrepreneurial Intentions among University Students: A Structural Equation Modeling Analysis.” Edgar Eugenio Izquierdo, ESPAE- ESPOL“Innovation Capability in Latin American Firms.” Esteban Brenes, INCAE/Catedra Steve Aronson de Estrategia y Agronegocios; Juan Carlos Barahona, INCAE; Rowan Gibson“The performance of technology-based start ups: A comparative study in Brazil.” Luis Carlos Padrão, Faculdade de Gestão e Negócios/Universidade Federal de Uberlândia/Organizações e Estratégia; Tales Andreassi, EAESP/Fundação Getúlio Vargas/Business Administration
Annual Conference BALAS 201318
20504 2:00 pm to 3:30 pm Inka IIISTRATEGIES FOR GLOBAL COMPETITIVENESS
Track: Strategies for Global Competitiveness“Exporting to your neighbours - the internationalization of young Costa Rican and Finnish firms.” Luis Lopez, INCAE; Maija Renko, University of Illinois at Chicago; Sumit Kundu, Florida International University; Luciano Ciravegna, University of London; INCAE“Inquiry into the Conceptual Dimensions of the Performance of Project Portfolio Management.” Pedro Bruno Barros de Souza, BNDES - Banco Nacional de Desenvolvimento Econômico e Social; Jorge Manoel Teixeira Carneiro, Pontifical Catholic University of Rio de Janeiro“Latin America in the Wine Market:The Country of Origin Effect on Consumers` Preferences.” Christian Felzensztein, Universidad Adolfo Ibañez; Carlos Rodriguez, Universidad Adolfo Ibañez
3:45pm
20602 3:45 pm to 5:00 pm Inka IPANEL - ACADEMY OF INTERNATIONAL BUSINESS
20603 3:45 pm to 5:00 pm Inka IIPANEL - MERGERS AND ACQUISITIONS IN LATIN AMERICA: BRIDGING CULTURES
AND SETTING TRENDS”
20604 3:45 pm to 5:00 pm Inka IIIPANEL - SMALL ECONOMIES, BIG OPPORTUNITIES
5:15pm
20702 5:15 pm to 6:30 pm Inka IPANEL - ENTREPRENEURSHIP
20703 5:15 pm to 6:30 pm Inka IIPANEL - SERVICE INTERNATIONALIZATION
7:30pm
20805 7:30 pm to 9:00 pm Paracas 2CELEBRATION DINNER
Free markets and Social Inclusion: Towards a common goal 19
Friday, March 22, 2013
9:00am
30103 9:00 am to 10:30 am Inka IIENTREPRENEURSHIP - INTERNATIONAL
Track: Entrepreneurship“Causal Recipes for Internationalization speed – an exploratory study.” Luis Lopez, Incae Business School; Luciano Ciravegna, University of London; INCAE; Sumit Kundu, Florida International University“Exporting from Latin America – insights from Chilean entrepreneurial firms.” Luciano Ciravegna, University of London; INCAE; Christian Felzensztein, Universidad Adolfo Ibañez; Paul Robson, Royal Holloway, University of London; José Ernesto Amorós Espinosa, Universidad del Desarrollo, Chile30104 9:00 am to 10:30 am Inka III
INFORMATION TECHNOLOGY MANAGEMENTTrack: Information Technology Management“From Knowledge Management to Absorptive Capacity: The ECITON Case on Business Model Innovation.” Martha Corrales, EGADE Business School“Technological Customer Relationship Management (CRM): An Enterprises Business Partnership.” Flávio Régio Brambilla, Universidade de Santa Cruz do Sul (UNISC) & Universidade Luterana do Brasil (ULBRA); Gustavo Dalmarco, UNILASALLE
10:30am
30201 10:30 am to 11:00 am Hotel FoyerCOFFEE BREAK
11:00am
30302 11:00 am to 12:30 pm Inka IFINANCIAL MARKETS, INVESTMENT AND RISK II
Track: Financial Markets, Investment and Risk“Market Segmentation: Venezuelan ADRs.” Urbi Alain Garay, IESA; Maximiliano González, Uniandes“Portfolio Selection with Bayesian Risk in Brazilian Stock Market.” Melquíades Lima Júnior, IFRN; Vinicio Souza Almeida, UFRN/PPGA; Rodrigo Ferreira, UFPE“Study of Market Sentiment and Capital Investment of Brazilian companies.” Claudia Yoshinaga; Alcides Araujo; Hugo Freitas; William Eid Junior, Sao Paulo School of Business - Getulio Vargas Foundation
30303 11:00 am to 12:30 pm Inka IIMANAGEMENT EDUCATION AND TEACHING CASES I
Track: Management Education and Teaching Cases“Are we really having an impact? A comprehensive approach to assess improvements on critical thinking at an MBA Program.” Luis Noel Alfaro Gramajo, INCAE Business School; Felipe Perez Pineda, INCAE Business School; Carlos Quintanilla, INCAE Business School; Luis Javier Sanz Campos, INCAE Business School
Annual Conference BALAS 201320
“The International Expansion of Marcopolo (A): Adventures in China.” Bruno de Góes, Temple University; Angela da Rocha, Pontifical Catholic University of Rio de Janeiro“The International Expansion of Marcopolo (B): Manufacturing in ‘The Other Side of the World’.” Angela da Rocha, Pontifical Catholic University of Rio de Janeiro; Rebecca Arkader, Federal University of Rio de Janeiro; Bruno de Góes, Temple University“Using a Simulation to Teach Management Accounting.” Stephen Brian Salter, University of Texas at El Paso; Juan Claudio Lopez, Universidad Alberto Hurtado; Howard Dottin, Arthur Lok Jack Graduate School of Business
30304 11:00 am to 12:30 pm Inka IIIHUMAN RESOURCE MANAGEMENT II
Track: Human Resource Management“Knowledge Management in Project-Oriented Organizations.” ANA CAROLINA MESSIAS SHINODA, UNIVERSITY OF SAO PAULO; ANTONIO CESAR AMARU MAXIMIANO, UNIVERSITY OF SAO PAULO; ROBERTO SBRAGIA, UNIVERSITY OF SAO PAULO“Sustainable Human Resource Management in Peruvian companies.” GINA MARIA PIPOLI, UNIVERSIDAD DEL PACIFICO; ROSA MARÍA FUCHS, UNIVERSIDAD DEL PACÍFICO“The Impact of HRM Practices on Organizational Performance: A General Model and a Test for Uruguay.” Adriana Cassoni, /Facultad de Administracion y Ciencias Sociales/Universidad ORT Uruguay; Gaston J. Labadie, Facultad de Administracion y Ciencias Sociales/Universidad ORT Uruguay“The importance of people management to the culture of innovation in a Brazilian service firm.” Clarissa Côrtes Pires, Aeronautics Technological Institute - ITA; Ligia María Soto Urbina, Instituto Tecnológico de Aeronáutica - ITA / Production Engineering
12:30pm
30405 12:30 pm to 1:30 pm Paracas 2LUNCH
30505 1:30 pm to 2:30 pm Paracas 2ANNUAL MEMBERSHIP MEETING
2:30pm
30505 1:30 pm to 2:30 pm Inka ISub-group meeting – executive committee
Free markets and Social Inclusion: Towards a common goal 21
Author IndexAAcosta, Pilar, 004Alfaro Gramajo, Luis Noel, 036Almeida, Vinicio Souza, 035Alsua, Carlos, 007Amorós Espinosa, José Ernesto, 032Andreassi, Tales, 024Araujo, Alcides, 035Arkader, Rebecca, 036
BBarahona, Juan Carlos, 024Barra, Cristobal, 009Berggrun, Luis, 005Blanco, Pablo Roberto, 019Boucher, Stephen, 017Brambilla, Flávio Régio, 033Bravo Orellana, Sergio Rafael, 017Brenes, Esteban, 010, 019, 024
CCallegaro, Carlos Alberto, 003Carillo, Miguel, 028Carneiro, Jorge Manoel Teixeira, 025Carter, Michael R., 017Cassoni, Adriana, 037Castanho, Rafael Plantier, 023Castano, Nathalie, 004Castillo, María José, 017Chimenti, Paula, 003Ciravegna, Luciano, 025, 032Cometto, Teresa, 009Corrales, Martha, 033Costamagna, Rodrigo, 019Cueto, Diego Carlos, 023
Dda Rocha, Angela, 036da Silva, Bianca Carvalho, 003Dalmarco, Gustavo, 033de Góes, Bruno, 036de Luque, Mary Sully, 004DE OLIVEIRA, LUCIEL HENRIQUE, 008Dottin, Howard, 036Durand, Aurelia, 009
EEid Junior, William, 035Espejo, Alvaro, 018
FFelzensztein, Christian, 009, 025, 032Ferreira, Jorge Brantes, 003Ferreira, Rodrigo, 035Freitas, Hugo, 035Fuchs, Rosa María, 004, 037
GGabel, Rachel, 004Garay, Urbi Alain, 023, 035García-Rada, Ximena, 019Geldes, Cristian, 009Gibson, Rowan, 024González, Maximiliano, 023, 035González, Silvia, 004Grosse, Robert, 026Guzmán, Felipe, 018
HHaar, Jerry, 029Hor-Meyll, Luis Fernando, 003Hupsel Vaz, Luiz Felipe, 003
IIckis, John C., 019Izquierdo, Edgar Eugenio, 024
JJaramillo, Carlos Z, 017José, Pin Ramón, 019
KKilian, Bernard, 008Kundu, Sumit, 025, 032
LLabadie, Gaston J., 009, 037leiva, pedro ignacio, 018Lengler, Jorge, 003Leone, Vitor, 035Lima, Marcel Correia, 003
Annual Conference BALAS 201322
Lima Júnior, Melquíades, 035Lizarzaburu, Edmundo, 005Lopez, Juan Claudio, 036Lopez, Luis, 025Lopez, Luis, 032
MMajano, Ana Maria, 019Matos, Nancy, 004Maximiano, Antonio Cesar Amaru, 037Mazzon, Jose Afonso, 003Medeiros, Otavio Ribeiro, 035Melgarejo, Mauricio, 007Mello Moyano, Carlos, 003Mendoza, Xavier, 030Merino, Maria, 008Minardi, Andrea Maria Accioly Fonseca, 023Moita, Rodrigo Menon Simões, 023Montiel, Eduardo, 007Montoya, Daniel, 019
NNavichoc, David Felipe, 008Nogueira, Roberto, 003
OOgliastri, Enrique, 004Olavarrieta, Sergio, 009, 011Ortiz, Norma, 017
PPablo, Eduardo, 023Padrão, Luis Carlos, 024Palacios, Miguel, 009Perez Pineda, Felipe, 019, 036Perezts, Mar, 004Pipoli, Gina Maria, 037Pires, Clarissa Côrtes, 037Porras, David, 007Prado, Andrea María, 019
QQuintanilla, Carlos, 036
RRees, Gareth, 027Renko, Maija, 025
Ribeiro, Vanderlei Becker, 003Rivera, Lloyd, 008Robertson, Chris, 027Robles-Flores, Jose Antonio, 004Robson, Paul, 032Rodrigues, Marco Aurélio de Souza, 003Rodriguez, Arnoldo J, 007Rodriguez, Carlos, 025Rodriguez Fernandez-Hidalgo, Enrique, 019
SSalter, Stephen Brian, 036Sanz Campos, Luis Javier, 007, 036Sarathy, Ravi, 027Sbragia, Roberto, 037Scott, Brad, 007Shinoda, Ana Carolina Messias, 037Souza, Pedro Bruno Barros de, 025Souza, Zilma Borges, 008Susaeta, Lourdes, 019
TTalavera, Jorge, 012, 013Torres, Eduardo, 009Turkina, Ekaterina, 009
UUrbina, Ligia María Soto, 037
VValenzuela, Leslier Maureen, 018Vara-Horna, Aristides Alfredo, 018Varga, Gyorgy, 005Vargas, Delfino, 008
WWernsing, Tara, 004
YYoshinaga, Claudia, 035
UÚbeda Sales, Ricardo, 007
Free markets and Social Inclusion: Towards a common goal 23
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The CFA ChArTer is A globAlly reCognized, grAduATe-level invesTmenT CredenTiAl. Earning it demonstrates a commitment to professional integrity and expertise in the broad range of skills needed for a career in the investment profession.
To find out more about the CFA charter, please visit www.cfainstitute.org/programs/cfaprogram.
© 2013 CFA Institute
“Charterholders stand out from the crowd because they have demonstrated that they have tenacity and are able to go through a rigorous program and study hard: it shows a certain type of personality that definitely performs well.”
Ana Cecilia Reyes Esparza, CFAMexico City, MEXICO
BALAS_2013.indd 1 3/7/13 3:10 PM
Free markets and Social Inclusion: Towards a common goal 25
Notes
Annual Conference BALAS 201326
Notes
Free markets and Social Inclusion: Towards a common goal 27
Notes
Annual Conference BALAS 201328
Notes
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Exhibitors:
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