Aby Grisly Huaman-Ñope, Arthur Giuseppe Serrato-Cherres, Maria Jeanett Ramos-Cavero and Franklin Cordova-Buiza
The study aimed to determine how reputational risk affects the stocks prices of companies listed on the Lima Stock Exchange.
Abstract
Purpose
The study aimed to determine how reputational risk affects the stocks prices of companies listed on the Lima Stock Exchange.
Design/methodology/approach
The study follows a documentary research with a quantitative approach. Companies from different sectors listed on the Lima Stock Exchange were taken as a sample.
Findings
The incidence between the reputational risk and the stock price of the companies listed on the stock market, as well as the impact on profitability indicators and income level were demonstrated. Additionally, it was determined that the cost of capital has a greater impact if the entity is financed from the issuance of bonds rather than by subsidiaries.
Originality/value
Companies that presented well-known events in Peru and those that caused damage to their corporate reputations were studied. Likewise, information from sources such as Monitor Empresarial de Reputación Corporativa, Peruvian Securities Market Regulator’s office and Lima Stock Exchange was documented in order to analyze the variations in financial indicators during the indicated events. Financial models such as CAPM and GORDON-SHAPIRO were also used.
Details
Keywords
Tomás López-Guzmán, Jesús Claudio Pérez Gálvez, Franklin Cordova Buiza and Miguel Jesús Medina-Viruel
The purpose of this paper is to conduct an analysis of the relationships existing among three basic constructs in the visitor’s decision-making process (motivation and…
Abstract
Purpose
The purpose of this paper is to conduct an analysis of the relationships existing among three basic constructs in the visitor’s decision-making process (motivation and satisfaction) in a tourist destination that is a World Heritage Site, such as the city of Lima (Peru). Bearing in mind the perception of heritage by the foreign visitors, four types of tourists were determined: alternative tourists, cultural tourists, emotional tourists and heritage tourists.
Design/methodology/approach
This research uses the multivariate technique of grouping cases (K-means clusters) to analyse the similarity existing among the surveyed persons. From the groups or segments obtained, statistics and measurements of association were applied, which provide the information necessary to study the possible trends of association existing between variables from a table of bidimensional contingencies. In the same way, nonparametric statistical procedures were used (Kruskal–Wallis H test and the Mann–Whitney U test) with the aim of analysing significant differences among groups of the sample.
Findings
The results show the existence of four diverse motivational dimensions among the foreign tourists to visit Lima: hedonic, cultural, convenience and circumstantial. Of the four dimensions, the cultural aspect is the most relevant. The results show the existence of a specific Ibero-American heritage and cultural identity.
Originality/value
This paper contributes to the academic literature on the links of the tourist with the historical and monumental heritage location(s) visited by the tourist and the tourist’s behaviour while visiting the site. In fact, it is one of the first investigations carried out on this subject in Latin America.