Sofia Mendez-Sandoval, Javier Alonso León Chavarria, Carlos Castro Mejía, Sebastián Vargas Cabezas and Eva Diana Quirós Orozco
This paper aimed to the enhancement of health-care services at a female penitentiary center in Costa Rica by implementing good documentation practices (GDocP) and good storage and…
Abstract
Purpose
This paper aimed to the enhancement of health-care services at a female penitentiary center in Costa Rica by implementing good documentation practices (GDocP) and good storage and distribution practices (GSDP) among the staff responsible for medications (SRM).
Design/methodology/approach
The methodology used in this project was qualitative, as it sought to deepen and reinforce the knowledge of the SRM about GDocP and GSDP in the Vilma Curling CAI to achieve its implementation. Additionally, different questionnaires were applied to measure the initial level of knowledge of GDocP and GSDP and the new skills acquired by the SRM at the end of the project.
Findings
Some improvement opportunities were identified in pharmaceutical service, management of the documentary system and knowledge of GDocP and GSDP among SRM. It is important to highlight the essential role of pharmacists, as experts in medical products, in health-care teams. Their participation significantly contributes to improving health outcomes for vulnerable populations, such as incarcerated women.
Research limitations/implications
Limitations included a small sample size, the security regulations to entry to the penitentiary center and limited information related to the implementation of GDocP and GSDP in such environment.
Originality/value
This project explores a poorly researched field such as the implementation of GDocP and GSDP and the impact that this could have on the pharmaceutical service of a penitentiary center.
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Luiz Ricardo Kabbach de Castro, Rafel Crespi-Cladera and Ruth V. Aguilera
The purpose of this study is to analyze the contribution of the paper by Martin and Gomez-Mejia and propose complementary approaches and ways to test their hypotheses.
Abstract
Purpose
The purpose of this study is to analyze the contribution of the paper by Martin and Gomez-Mejia and propose complementary approaches and ways to test their hypotheses.
Design/methodology/approach
This study compares different theoretical approaches that complement socioemotional wealth to explain manager’s decisions and firm performance.
Findings
The authors of this study argue that progress could be achieved by combining Martin and Gomez-Mejia’s propositions with elements of existing organizational theories that are grounded on economics such as the resource-based view, transactional cost and property rights.
Originality/value
This study provides a new perspective of the work of Martin and Gomez-Mejia published in this issue.
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Bartolomé Dey´‐Tortella, Luis R. Gomez‐Mejía, Julio O. de Castro and Robert M. Wiseman
Agency theoretic models have been used in the past to justify the use of stock options as an effective incentive alignment mechanism to create a common fate between principals and…
Abstract
Agency theoretic models have been used in the past to justify the use of stock options as an effective incentive alignment mechanism to create a common fate between principals and agents. In this paper, we use behavioral theory to reach the opposite conclusion – namely, that the design characteristics of the typical stock option plan foster perverse incentives for loss‐averse agents, leading to decisions with detrimental consequences for principals. We also consider alternative stock option designs and other equity‐based executive compensation plans and argue that they may suffer from the same problems as traditional stock option plans – namely, that loss‐averse executives will try to protect the endowed value of that equity through self‐serving decisions that do not enhance shareholder wealth.
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Nasaré Vieira Nogueira and Luiz Ricardo Kabbach de Castro
The purpose of this study is to examine the effects of ownership structure on merger and acquisition (M&A) decisions of Brazilian listed companies.
Abstract
Purpose
The purpose of this study is to examine the effects of ownership structure on merger and acquisition (M&A) decisions of Brazilian listed companies.
Design/methodology/approach
This paper is an applied and explanatory research based on secondary data. The sample is comprises non-financial companies listed on the BM&FBovespa between 1998 and 2007. Considering that the dependent variable is binary, the authors estimate panel data logistic regression models. Considering the existence of conflicts of interest among those who have the decision-making power and the supplier of capital for M&A transactions, they draw upon the Agency Theory to develop the theoretical hypotheses.
Findings
The results show that, for a sample of Brazilian non-financial companies listed on the BM&FBovespa (B3), from 1998 to 2007, Brazilian firms present, on average, a highly concentrated ownership structure and the major controlling shareholders are families or the State. These characteristics are negatively related to the likelihood of M&A transactions, as most of these controlling shareholders are reluctant to adopt mechanisms that reduce their control.
Research limitations/implications
With regard to the limitations, this study considered only the M&A definitions as stated by the Bureau van Dijk database. In this sense, future studies may analyze the effects of ownership structure based on other M&A definitions and typologies. In addition, the study is limited to the period from 1998 to 2007, which is prior to the international financial crisis. Future studies may extend the analysis period to include the post-crisis period (2008) to check if there are differences in M&A strategies before and after the crisis.
Practical implications
From a managerial perspective, the results show that minority shareholders have little or no influence over an M&A decision, so they cannot decide on the use of resources for fast growth and access to new markets through M&A. Thus, the investment decision must take into account the nature and the quality of the controlling shareholder.
Social implications
This study shows a significant and negative effect of ownership concentration on the likelihood of M&A transactions. In part, this result demonstrates the importance of understanding the behavior of controlling shareholders before inferring on other key aspects that the M&A literature tends to make fundamental in explaining M&A decisions in publicly traded companies, particularly, in an environment of low minority shareholder protection.
Originality/value
Previous studies have partly found that the M&A decision is motivated by individual advantages obtained from increasing the size of the firm, or from managerial hubris. The results show that these hypotheses do not hold in the Brazilian context. Moreover, the results indicate that M&A decisions are associated with the characteristics of the controlling shareholder, their level of ownership concentration and their typology, contributing to the agency debate on whether the incentive or the entrenchment effect prevails in the context of the agency problem between controlling and minority shareholders, particularly, in an institutional environment of low shareholder protection.
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This chapter analyses, from the perspective of inclusion, the possibilities of participation for families in basic education schools in Mexico. Based on the analysis of articles…
Abstract
This chapter analyses, from the perspective of inclusion, the possibilities of participation for families in basic education schools in Mexico. Based on the analysis of articles published between 2012 and 2022, complemented by an analysis of normative instruments, the main patterns related to policies, practices and cultures were explored. The outcomes highlight a lack of recognition and appreciation of the diversity of families, restricted spaces and forms for their participation and cultural patterns that hinder their inclusion. The bases to favour inclusion are recognised and four key axes are proposed for its strengthening.
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Maria Rita Blanco, Miguel Angel Sastre-Castillo and Maria Angeles Montoro-Sanchez
This article explores the influence of education and experience on the time to the top in family and non-family CEOs who work for Latin American family firms.
Abstract
Purpose
This article explores the influence of education and experience on the time to the top in family and non-family CEOs who work for Latin American family firms.
Design/methodology/approach
In order to achieve these objectives, this study draws upon human capital theory as well as career and family firm literature. The careers of 129 CEOs of family firms who form part of the América Economía ranking were analyzed and quantitative methods were used.
Findings
In Latin American family firms, family CEOs reach the top faster than their non-family counterparts. In addition, the influence of human capital variables on the way to the top differs between the two groups. For family CEOs, obtaining a graduate degree delays the way to the top, while for non-family ones, it reduces the time to the top. As regards experience, for promoted family CEOs, the greater the percentage of the career spent in the organization they lead, the shorter the time to the top. No support was found for either the influence of having worked for just one firm or having had elite graduate education abroad, in multilatina CEOs.
Practical implications
Individual career management suggestions for future CEOs as well as specific guidelines for talent managers are proposed
Originality/value
This is the first study to explore the influence of human capital indicators on the time to the top in Latin American family firm CEOs.
Propósito
Este artículo explora la influencia de la educación y la experiencia sobre el “time to the top” de los Gerentes Generales, miembros de la familia y no miembros, quienes trabajan para empresas familiares latinoamericanas.
Diseño/metodología/enfoque
Para lograr estos objetivos, este estudio se basa en la teoría de capital humano y la literatura sobre carreras y empresas familiares. Fueron analizadas las carreras de 129 Gerentes Generales de empresas familiares, integrantes del ranking América Economía, y se utilizaron métodos cuantitativos.
Resultados
En las empresas familiares latinoamericanas, los Gerentes Generales miembros de la familia llegan más rápido a la cima que los no miembros, y la influencia de las variables de capital humano en el “time to the top” difiere entre ambos grupos. Para los Gerentes Generales familiares, los estudios de posgrado retrasan el “time to the top”, mientras que, para los no familiares, lo reducen. En cuanto a la experiencia, para los Gerentes Generales que han sido promovidos, cuanto mayor es el porcentaje de carrera invertido en la organización, menor es el “time to the top”. No se obtuvo respaldo para las hipótesis sobre la influencia de trabajar en única firma o el posgrado de élite en el extranjero, en este último caso para los Gerentes Generales de multilatinas.
Implicancias prácticas
Se ofrecen sugerencias de gestión de carrera a nivel individual para futuros ejecutivos, así como lineamientos para los gerentes de talento.
Originalidad/valor
Este es el primer estudio que explora la influencia de los indicadores de capital humano sobre el “time to the top” de Gerentes Generales de empresas familiares latinoamericanas.
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Rojas-Trejos Carlos Alberto and González-Velasco Julián
Waste production is one of the most important problems that humankind faces. Human-based activities generate diverse waste types that have to be treated and disposed differently…
Abstract
Waste production is one of the most important problems that humankind faces. Human-based activities generate diverse waste types that have to be treated and disposed differently. This results in the need to build more facilities to manage the waste and to avoid further environmental damage. Colombia established a successful policy to close open dumps and to control pollution. Notwithstanding the advances that have been made in final disposal, it is necessary to extend the life of the final disposal sites and increase the closure of open landfills. Valle del Cauca is the third most populated Colombian province, and it is also considered the third province that generates more waste. This chapter addresses the problem of locating solid waste disposal centers in Valle del Cauca by applying the analytic hierarchy process (AHP) with fuzzy logic, a multicriteria method that compares opinions of a decision-making group. Additionally, each potential location area is characterized by considering industrial and environmental issues, societal dynamics, infrastructure and topography, costs, and taxes. After applying a variant of AHP, the decision-making group was able to find that Jamundi is the best location to open the disposal center. The method shows strong potential to identify and prioritize alternative locations for a diverse group of stakeholders. Most importantly, the methodology lets us structure better qualitative and quantitative data, as well as to link multiple levels to avoid choosing locations that will affect society, environment, and other stakeholders, without considering the trade-offs among diverse criteria considering benefits, opportunities, costs, and risks (BOCR).
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This chapter focuses on the international development plans implemented in Colombia during the regime of Gustavo Rojas Pinilla (1953–1957). It argues that foreign economists and…
Abstract
This chapter focuses on the international development plans implemented in Colombia during the regime of Gustavo Rojas Pinilla (1953–1957). It argues that foreign economists and international agencies, such as the World Bank, played a significant role in supporting and strengthening local leaders opposing the regime. By analyzing the creation of the Cauca Valley Corporation in 1955, through the intervention of the former chair of the Tennessee Valley Authority (TVA) David Lilienthal, this study provides two main contributions to the literature on economists and political economy under authoritarian rule. Firstly, it illuminates how local groups mobilized international economists to contrast Rojas. Secondly, it analyses the evolving relationship between World Bank advisors, David Lilienthal, and the regime. After describing the consolidation of political and economic interest groups and their global connections before Rojas coup d’état, it focuses on Rojas’ regime and on how it affected the implementation of the World Bank development started with the General Survey Mission in 1949. In the Cauca Department, local leaders invoked the World Bank and Lilienthal to implement a TVA model in opposition with the central government.
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Rosalina Torres-Ortega and Carlos Alberto Santamaria-Velasco
COVID-19 has spread so quickly and uninterruptedly that it has put great pressure on the capacities of emerging countries, especially the Latin America area. Its impacts that will…
Abstract
COVID-19 has spread so quickly and uninterruptedly that it has put great pressure on the capacities of emerging countries, especially the Latin America area. Its impacts that will have on businesses and entrepreneurs, it can be inferred that the duration of this crisis is still uncertain; thus, the aim on this chapter is to aggregate the current knowledge on how COVID-19 has impacted the entrepreneurship, and their expectations in the short and medium term. We examined 37 articles published between 2020 and 2021. To develop the discussion, we conducted descriptive review including year, affiliation of the first author, type of study, research methods in reviewed papers, and the origin of the empirical sample. We follow our thematic analysis within four broad categories: (1) crisis; (2) digitalization; (3) education; and (4) employment. Our results show that the call to address grand challenges, particularly relate to digitalization, public policies focused on supporting entrepreneurs and education in entrepreneurship in the Latin America context.