This paper presents a new approach to real options. The current options-based models have provided new insights into capital-budgeting decisions. Unfortunately they are not widely used by corporate managers and practitioners as they are formally complex, rather difficult to understand and rest...

This paper analyzes the relations among different concepts such as earnings, profit, interest, rate, consumption, dividend, installment, cash flow, capital. It aims atembracing these notions in a unique conceptual "umbrella" , consisting of five perspectives: (1) accounting, (2) economic theory,...

Two measures of excess profit (residual income) are currently available in the literature: the standard one, of which Economic Value Added (EVA) (Stewart, 1991) is a major instantiation, and Systemic Value Added (SVA) (Magni, 2003, 2004, 2005), also named lost-capital residual income (Magni,...

En este trabajo se examinan los determinantes del recaudo del impuesto predial en el Distrito de Cartagena de Indias, Colombia, en el periodo 1984-2010. Este tributo representa el 33% de los ingresos corrientes del Distrito; con el impuesto de industria y comercio constituye la principal fuente...

This paper shows that the Internal-Rate-of-Return (IRR) approach is unreliable, and that the recently introduced Average-Internal-Rate-of-Return (AIRR) model constitutes the basis for an alternative theoretical paradigm of rate of return. To this end, we divide the paper into two parts: a pars...

Desde mediados de la década de 1980, las ciudades han sido revalorizadas como soportes territoriales de los procesos de innovación y crecimiento económico. Las ciudades grandes y diversificadas son categorizadas como “incubadoras de innovaciones”. Sin embargo, las recientes estrategias de...

Este documento analiza los principales determinantes del desempeño innovador en las firmas manufactureras de la Región Caribe colombiana. Se construye un modelo de regresión a tres niveles que relaciona variables a nivel firma, sector y región. La hipótesis central es que algunos de los...

The present exercise is oriented to analyze the interaction and equilibrium in the higher education market and firms behavior under non-profit constraint for public and private institutions. The model suggest three different equilibrium in which differences in size and quality are explained...

En este estudio se analiza el comportamiento de la deserción escolar en la Institución Educativa Benkos Biohó, del corregimiento de Palenque, en el 2007. Además, se analiza la situación de la deserción escolar del municipio de Mahates y del departamento de Bolívar. Se indaga, mediante...

This document presents the results of the analysis of environmental conditions and how they might influence the performance of the shipbuilding industry in Colombia, Specifically, one that serves the needs river development in the context of recovery of the navigability of Magdalena River.