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The article clarifies the wage–employment relation in a developing country. Several years ago, many articles in the United States indicated that the relation between increasing wages and increasing unemployment is unclear. These articles from the United States are insufficient to be applicable to all countries, especially developing countries such as Colombia where institutions and the wage–employment relation differ from those in the United States.

A meta-analysis methodology was used as 28 estimates of long-run wage–employment elasticity in Colombia from 1998 to 2016 were analyzed.

This article provides insights into how real wages affect employment. Despite publication biases, results showed that a 1% increase in wages results in a 0.11% decline in employment in the long run.

Due to the publication bias, it is not considered how variables such as sectors, estimation strategies (panel data, partial adjustment, cointegration and non-linear least squares, among others), formal/informal urban sectors, government services and transportation, and qualified and unskilled workers affect the true elasticity value.

This paper includes implications for public policy because the results are important to minimum wages policy in a developing country.

There are no studies regarding the wage–employment relation in a developing country. The empirical results obtained in this article are useful for regulators, policy makers and researchers to understand whether employment is affected by real wages.

This article analyzes the determinants of credit constraints and their effects on the productivity of micro-firms in Colombia.

An Endogenous Switching Regression Model (ESRM) is estimated to analyze credit constraint impact on economic performance.

The results show that owner characteristics such as age and gender decrease the likelihood of being constrained. Firms' characteristics, such as legal status, the formality of the employees, commercial property and savings, are important for reducing credit constraints.

This article discusses how formal credit restrictions harm the economic performance of Colombia's micro-firms. The results show that the productivity of the micro firms in Colombia could increase, on average, by U$ 825 USD when all types of restrictions are eliminated.

The purpose of this paper is to discuss sheepskin effects in Colombia based on repeated cross‐section or pseudo panel data using cohorts in seven larges cities in Colombia.

A Pseudo Panel Data methodology is used as the basis for determining and testing sheepskin effects using labor market microdata in Colombia in the time period from 1996 to 2000.

Empirical evidence suggests that there are additional salary increases of 14 percent for individuals who hold a secondary degree and approximately 26 percent for holders of university degrees in Colombia.

Testing sheepskin effects based on pseudo panel data using cohorts.

The purpose of this paper is to develop and empirically test the conditions that describe adjustment velocities to reach equilibrium under Cournot's duopoly model.

The paper uses a vector error correction (VEC) framework as the basis for determining and testing adjustment velocities using data about cellphone service in Colombia in the time period from 1995 to 2001.

Empirical evidence suggests the following: first of all, companies operating in the cellphone market behave as cournot's competitors and have constant marginal costs; secondly, cellphone companies operating in the eastern zone of Colombia are in long‐term equilibrium; and lastly, equilibrium adjustment velocities are statistically significant. As predicted by theory, in terms of welfare, the existence of equilibrium in Cournot's model implies that cellphone users in the eastern zone of Colombia enjoy a small consumer surplus.

Testing the microeconomic implications of the equilibrium dynamics of Cournot's model, using a VEC framework.

The purpose of this paper is to discuss the role of Markovian transitions related to the economic convergence among countries. Thus, the paper aims to develop an overview of several classical approaches, including an analysis of fallacies exposed through the literature.

The number of modes in the distribution of the RGDPL for 100 countries in the period from 1986 to 2000 is calculated. Next, the results obtained from the relevant transition matrices are discussed and the existence of twin peaks in the distribution of income is analyzed. Finally, the adequacy of both Markovian and (time) homogeneity hypotheses in connection with the stochastic process that underlies income distribution is studied.

The results across the period 1986‐2000 show the evolution of countries into convergence clubs, instead of the existence of economic convergence.

The paper discusses two important issues on the convergence hypothesis. First, the discretization process really matters. If quartiles or quintiles are used the ergodic distribution does not show twin peaks because the process shows an equiprobabilistic ergodic (stationary) distribution in the long term. Second, the twin peaks results need a Markov (time) homogeneous chain as a model for the underlying income process, and then Chapman‐Kolmogorov's equation must be satisfied. However, the paper finds empirical evidences of failure in such an argument.

This paper aims to identify future scenarios and convergent technologies regarding the plantain chain in the region of Quindío, Colombia. It proposes the definition of key variables, convergent technologies, future objectives, future scenarios and hypotheses based on stakeholders’ and experts’ opinions collected through questionnaires, surveys and workshops.

The present analysis seeks to identify and anticipate the future routes for the improvement of scientific, technological, innovative and skills management of the plantain agroindustrial chain in the region of Quindío, Colombia using the foresight-by-scenarios and, Delphi methodologies and finally validating the results with artificial intelligence code and natural language processing.

After the analysis of 100 initial variables, the results suggested the identification of five key variables defined by the stakeholders and matrix-based multiplication applied to a classification (MICMAC) analysis such as “weather,” “financing and economy,” “grouping and associativity,” “crop” and “territorial planning and raw material.” Moreover, the definition of four future objectives along with the matrix of alliances and conflicts, tactics, objectives and recommendations (MACTOR) analysis suggested scenarios according to the probability. The most possible, probable and desirable scenario, was the cooccurrence of the five proposed hypotheses. Furthermore, the Delphi analysis allowed us to define nine subgroups from 116 subtopics including: “plantain varieties,” “plantain agroindustry,” “waste use” and “crop,” among others.

Due to the specificity of the analyzed agro-chain, the study only encompasses the plantain and banana sectors. However, the implications are related to the generation of projects in the selected technologies.

This paper includes implications for the development of prospective studies combining two or more different methodologies such as foresight-by-scenarios and Delphi method at the same time and further comparing the results with artificial intelligence analysis.

The generation of public policies in the sector and input for governmental analysis and tools for decision-making with a well-grounded, systematic and rational point of view.

This work describes for the first time, the implementation of the Delphi method regarding an important agroindustry sector such as plantain and banana prospective study. Furthermore, it explains the alignment of two methodologies; foresight-by-scenarios and the Delphi method related to the sectorial approaches, and convergent technologies and innovations, respectively. Moreover, a complementary bibliometric analysis with global terms related to the plantain or banana agroindustry was also included. In a novel way, we also applied an artificial intelligence code using Python software to contrast the results previously obtained in the foresight-by-scenarios method.

This study aims to explore the strategic decisions at innovation level implemented by firms to thrive and transform themselves during crises. This study also aims to provide insights to answer the question: Why do some firms decide to implement certain types of innovation during a crisis?

This research was carried out through a multiple case study involving 22 firms. The methods were implemented in three steps to increase rigor and the replication of the study: identification and selection of cases, data collection through interviews triangulated with online information and analysis based on aggregating themes and finding patterns.

In the face of the COVID-19 pandemic, the companies analyzed focused their activities mainly on developing new features or functionalities for their products or services. Most of the firms implemented innovations across nearly all ten categories outlined by Keeley et al. (2013). Many of the implemented innovations involved personalized and superior service enhancements, process efficiency optimizations, channel diversification initiatives and new ways to collaborate to generate value. In general, the main drivers that led firms to decide to implement these innovations include reducing costs, enhancing operational efficiency, generating new revenue streams, augmenting sales and enhancing client relationships.

This research significantly advances the convergence of innovation, strategy and crisis in three impactful ways. First, it constructs a pragmatic and evidence-based framework, consolidating the primary catalysts, innovation categories and strategies adopted by firms in response to the challenges posed by the COVID-19 crisis. Second, it offers insights for guiding decision-making processes related to innovation, presenting actionable recommendations derived from the study’s findings. Thirdly, this study highlights critical perspectives that can guide governmental intervention, facilitating the formulation of more tailored and effective policies to assist companies during crisis periods.

This study centers on developing countries, specifically examining Colombian firms, considering their unique characteristics and priorities. Surprisingly, there is a scarcity of studies delving into the innovation and transformation of firms during the COVID-19 crisis in nations sharing cultural, economic and political similarities with Colombia.

This study draws on financial slack, agency, and critical mass theories to investigate risky firms’ ESG engagement, board gender diversity’s moderating role between firm risk and ESG engagement, market reaction to risky firms’ ESG engagement, and board gender diversity’s role in moderating market reaction to risky firms’ ESG engagement.

The study uses a sample of 44,129 firm-year observations between 2005 and 2019 across nine industries and 61 countries. We adopt Refinitiv’s (LSEG Workspace database) scheme in assessing firm ESG performance.

We find that firm risk is significantly and negatively associated with ESG performance. Board gender diversity (1) negatively moderates between firm risk and the environmental pillar (2) negatively moderates between firm risk and the social pillar, (3) negatively moderates between firm risk and CSR strategy metric of governance pillar but positively moderates between firm risk and management metric of the governance pillar. We show that as the number of female director increases, their moderating effect between firms’ risk and ESG performance becomes stronger. The existence of a critical mass of female directors on the board alleviates the market’s negative reaction to ESG engagements.

Although plenty of prior studies focused on board gender diversity’s role in driving firm outcomes, its role in risky firms’ ESG engagement is yet to be explored. It is imperative to investigate risky firms’ engagement in ESG because these firms face more financial distress and are more concerned about their short-term survival whilst investing in ESG is specifically sensitive to the accessibility of slack resources. Consequently, risky firms may have less flexibility to initiate ESG activities or cease them.

The theoretical framework of this study focuses on the trends towards experiential tourism and new communication channels in the tourist sector. The specific areas of action that are covered in this research work focus on: a definition of experiential tourism, an analysis of markets as a resource of experiential tourism and communication strategies and the use of social media by the markets of Madrid to interact with the new experiential consumer.

This paper is arranged as follows: first, a review of the documents on new tourist sector trends towards the demand of experiential tourism, on marketing 2.0 and on social media has been carried out; second, communication strategies of the food markets seen as tourist resources are described herein, including results of the research in the use of social media; and finally, conclusions of the study are developed.

According to the conceptual approach and after reviewing the documents cited in this paper, it is possible to conclude that food markets are tourist resources that shall be exploited as “experiential providers” for a market niche that is increasingly demanding and expects to have a “tourist experience”. The present paper contributes to the literature on experiential tourism, including new communication strategies as a tool to contact experiential tourists. Accordingly, an analysis is carried out of a specific product/resource, such as the food markets of Madrid as resources or experiential leisure centers, and a study on product strategies (offer of experiences) and communication strategies on their experiential tourism offer fundamentally based on social media and websites.

Although this work represents an in-depth study of the food markets analyzed, the research could be extended to other markets or to other cities that are also working with markets as experiential tourism resources, though not in a structured design as in Madrid.

This work is different from previous studies for several reasons. In the first place, food markets are integrated as elements for the study of experiential tourism as tourist resources, and second, commercial interaction and other types of productive activities in urban centers are considered. In particular, social relations and collaboration between small retailers in markets, their managers and the institutions responsible for tourism management in the city of Madrid are barely analyzed in the literature. This includes the collaboration between public (Madrid City Council), cultural and business institutions (Madrid Fusión and Gastrofestival), hospitality and other businesses (established in the food markets) to promote cultural experiences and historic tourism.

The performed study has several implications for employers and policymakers. As historical, cultural and experiential tourism are growing trends throughout the world, new tourist consumer profiles must be analyzed. There are new groups of tourists looking for unique experiences and “local” activities, eager to visit renovated urban historical centers with a developed experiential leisure offer. This tourist activity facilitates the rebirth of the traditional food markets and promotes the creation of jobs and new opportunities for traditional businesses as shown in the present case study focused on the markets of Madrid.

The present paper contributes to the literature on experiential tourism, including new communication strategies as a tool to contact experiential tourists. Accordingly, an analysis is carried out of a specific product/resource, such as the food markets of Madrid as resources or experiential leisure centers, and a study on product strategies (offer of experiences) and communication strategies on their experiential tourism offer fundamentally based on social media and websites. The role played by food markets in the creation of an experiential tourism offer in Madrid and the communication strategies generated by them is described in this research. This study not only sheds light on the changes undergone by the tourist demand, specifically urban tourism but also it helps understand some of the strategies that big tourist cities are implementing in historic centers to reduce the risks of mass tourism.