Cuadernos de Administración 2024-02-26T11:41:30-05:00 Revista Cuadernos de Administración Open Journal Systems <p>The <em><strong>Cuadernos de Administración</strong></em> journal is the official publication by the Universidad del Valle's Management Sciences Faculty. It is edited and published every 4 months. The journal publishes original papers and review and discussion articles in the areas of management and organizations, accounting, economics and international trade, marketing, and public policy. Since 1976, the journal aims to promote research in such fields of study by publishing high quality papers and setting up a space of international visibility for authors.</p> <p> </p> <p> </p> Determinants of dividend policy in small and medium-sized enterprises of an emerging market 2024-02-26T11:41:22-05:00 Diego Andrés Correa-Mejía Jaime Andrés Correa-García Carlos Eduardo Castaño-Ríos <p>This paper aims to analyze the determining factors of dividend policy in SMEs of an emerging economy such as Colombia. SMEs are very important for emerging economies, as they are great job creators and contribute to improving the quality of life of many families. This study is based on liquidity, profitability and indebtedness variables, to demonstrate their links with the dividend policy in this type of entities on which there is not enough empirical research in the Latin American context. A panel data with a total of 11,888 observations was estimated for the horizon 2017-2019. The results evidence that liquidity and profitability increase SMEs’ dividend policy. Indebtedness level indicators present a negative relationship. Overall, the results provide empirical evidence on this important financial decision in a scarcely studied business context and segment. Additionally, the factors influencing dividend policy for these firms have practical implications for regulators, investors, and financial analysts to strengthen their decision criteria in emerging economies. </p> 2023-11-30T00:00:00-05:00 Copyright (c) 2023 Diego Andrés Correa-Mejía, Jaime Andrés Correa-García, Carlos Eduardo Castaño-Ríos Aspects that influence extrinsic and intrinsic motivation to acquire an online language course of a foreign language 2024-02-26T11:41:18-05:00 Gerson Jaquin Cristancho Triana Laura Sofia Corredor Aponte <p>Learning a foreign language has become a necessity involving the professional and experiential development of people, for this reason this research aims to analyze whether extrinsic and intrinsic motivation is influenced by advertising actions and the aspects that are considered to buy an online language course. For this, descriptive research was developed, with a quantitative approach and a questionnaire was applied in digital format to 555 participants from the city of Bogota, who expressed an intention to study a foreign language learning programme on a virtual platform. From a confirmatory factor analysis and structural equations, the results suggest that intrinsic and extrinsic motivation are influenced by the advertising actions of the platforms, extrinsic motivation is not influenced by the aspects considered to acquire a language course and additionally intrinsic motivation affects the extrinsic motivation to choose such platforms. Future studies may focus on measuring the influence of attitudes and social networks on consumption. </p> 2023-12-06T00:00:00-05:00 Copyright (c) 2023 Gerson Jaquin Cristancho Triana, Laura Sofia Corredor Aponte Satisfaction in Business Relationships Between Companies and Dark Side Behaviour: A Literature Review 2024-02-26T11:41:15-05:00 Carlos Javier Ayala-Regalado <p>Buyer-seller relationships play a pivotal role in relationship marketing, as their effective management can yield significant benefits for companies. Satisfaction is the linchpin that sustains these business relationships over time, yet it can be influenced by various factors, particularly negative behaviors known as “dark side” behaviors. These behaviors encompass actions such as concealing information, opportunism, exploiting the counterparty, causing confusion, sharing customer information without consent, providing misleading information, breaching privacy, levying unjustified charges, and withholding information from customers. The primary objective of this research is to explore the link between dark-side behaviors and satisfaction in business relationships among companies. To achieve this goal, we conducted a comprehensive systematic literature review, scrutinizing 43 articles that aligned with our search criteria. After careful selection, we focused on 30 articles published between 2010 and 2023. Within these articles, we identified the prevailing theories, authors, research methodologies, and limitations, and we also unearthed promising avenues for future research. In conclusion, our findings indicate that there isn’t a singular interpretation of the term “dark side” in commercial relationships. Thus, there is a pressing need to develop tools and frameworks that can pinpoint specific manifestations of dark side behaviors, especially those driven by personal or corporate gain, regardless of the potential harm they may inflict on a business partner within a collaborative relationship.</p> 2023-12-13T00:00:00-05:00 Copyright (c) 2023 Carlos Javier Ayala-Regalado A Dynamic Approach to Performance for Software Development Projects 2024-02-26T11:41:12-05:00 María Isabel Díaz Vega Manuel José Ospina Ospina <p><br />This paper is based on analyzing the relationships between aspects that affect knowledge management and the performance of projects of micro and small companies dedicated to software development through a process of research, reflection, and application of system dynamics tools. For the realization, it was necessary to take data and models from a sector company and perform the analysis in two stages. In the first stage, an analysis was performed by reviewing the causal relationships through the first modeling of systemic thinking (feedback loops). In the second stage, modeling has been performed using Forrester diagrams. For the analysis, the variables for the study were identified, such as pending activities of a project, the productivity of the performed work, learning, and the development of code units that transform these requirements into functional programs. The result is the identification of variables, the relationships between them, and their incidence in the projects of micro and small companies dedicated to software development in Colombia. Likewise, the models used to evaluate the learning capacity and the knowledge management model should be analyzed to identify all types and areas that allow the development of projects. More factors affect this design than are currently known, so broader studies with a more complex model are recommended.<br /><br /></p> 2023-12-31T00:00:00-05:00 Copyright (c) 2023 Maria Isabel Diaz Vega, Manuel Jose Ospina Ospina Theoretical Model on the Online Purchase Intention of the Mexican Internet User 2024-02-26T11:41:04-05:00 Ana María del Rosario Alvarado Oregón Oscar Bernardo Reyes Real <p>The current research delves into the study of factors that can influence and motivate the use of e-commerce. To the extent that users perceive purchasing through the Internet as easy, useful, reliable, and convenient, their intention to make a purchase in the future will be greater. The aim of this study was to develop a theoretical model concerning the determining factors of online purchase intention. The model was developed through the analysis of theories that underpin models on factors influencing purchase intention, such as the Technology Acceptance Model (TAM) and the Theory of Planned Behavior (TPB). Both exploratory and descriptive approaches were employed. Furthermore, a measurable model was conceived through surveys employing Likert scale variables, exhibiting high predictive capability for explaining Internet usage adoption. The outcome achieved is a structural theoretical model of online purchase intention, comprising latent dependent variables and indicator items as explanatory variables within the Mexican context. This study fills a gap in the literature regarding e-commerce in Mexico, and, being open to validation, it provides insights for understanding the purchasing patterns of internet users.<br /><br /></p> 2023-12-31T00:00:00-05:00 Copyright (c) 2023 Ana María del Rosario Alvarado Oregón, Oscar Bernardo Reyes Real Logistic characterization of the dairy supply chain 2024-02-26T11:41:30-05:00 Tatiana Paola Salamanca Gómez Rafael Guillermo García-Cáceres Anny Astrid Espitia-Cubillos <p>The Colombian dairy supply chain is described and characterized in terms of its agents, interactions, stages and links, among other aspects that are relevant to the production and marketing of milk and dairy products. The characterization methodology comprises four steps: evaluation of the global and national production of the dairy supply chain, identification and description of its links and stages, assessment of the value added by its agents and links, and detailed analysis of its performance specificities. In addition, relevant weaknesses were observed in the upstream stage, which not only has the least economic leverage but is also the most vulnerable stage since it absorbs most of the risk in the chain. The current study revealed weakness in the upstream phase, which is the most vulnerable part of the chain, since it absorbs most of the risk and has the lowest financial leverage. As a consequence, it usually faces profitability problems. This is actually a common trend in the literature on the topic, as seen in previous agribusiness SC analyses, wherein similar weaknesses have been revealed.</p> 2023-10-08T00:00:00-05:00 Copyright (c) 2023 Tatiana Paola Salamanca Gómez , Rafael Guillermo García-Cáceres, Anny Astrid Espitia-Cubillos Guidelines for structuring photovoltaic solar energy projects in Colombia, focused on the department of Huila 2024-02-26T11:41:08-05:00 Camilo Andrés Jiménez Castrillón Juan Felipe Patarroyo Castrillón Derly Cibelly Lara Figueroa Rafael Armando Méndez Lozano <p>Despite international agreements reached at the United Nations Convention on Climate Change since 2015 concerning the transition to Non-Conventional Renewable Energy Sources (NCRE), Colombia, including the Department of Huila, has lagged behind other South American countries. This study aims to provide comprehensive project management guidelines for the development of photovoltaic solar energy projects in Huila and Colombia. The approach incorporates methodological elements from project management frameworks like PMI, PRINCE2, and SCRUM. The methodological design is mixed, involving a documentary analysis of energy demand and supply in Colombia and Huila, consideration of variables essential for photovoltaic solar project development, and integration of the aforementioned project management methodologies. The result is a proposal for methodological hybridization and the establishment of guidelines for structuring photovoltaic solar projects of various types, such as Distributed Generation (GD), Self-Generation and Small-Scale Power Generation (AGPE), Wholesale Power Generation (AGGE), and Large Generators. These guidelines are based on the project life cycle, procedures, activities defined in the proposed methodology, and the legal requirements stipulated in CREG 075 and CREG 174.</p> 2023-12-31T00:00:00-05:00 Copyright (c) 2023 Camilo Andres Jimenez Castrillon, Juan Felipe Patarroyo Castrillon, Rafael Armando Mendez Lozano, Derly Cibelly Lara Figueroa Organizational resilience factors in Bogotá-based businesses during the Covid-19 pandemic 2024-02-26T11:41:00-05:00 Pedro Nel Valbuena Yamile Andrea Montenegro Montenegro Mario Hernán González Boris Cendales <p><br />This article reports on descriptive case studies, and researched the factors of improvisation in organizational resilience in the context of the Covid-19 health emergency. A total of 23 businesses in the city of Bogotá, from different economic activities, participated in this study. Participants were managers, owners, legal representatives, or executives from those businesses. The research type is descriptive with a qualitative approach, aimed at identifying qualitative attributes based on responses or ratings using the Likert scale. A Likert-type questionnaire was used, rating seven resilience factors, whose indicators were defined by reviewing the literature on the subject. It was found that among the resilience factors, those with the lowest performance were the components of sustainability, corporate culture, and innovative ecosystem; the determinants of coping skills and leadership were the best performing; meanwhile, human talent and the elements of flexibility and adaptation played an intermediate role in sustaining the business amid the health emergency. The study corroborates the previously existing theory and shows the possible variation in the influence of improvisation factors depending on the size of the company, its structure and organization. This study may serve as an input for future research related to the determining factors in organizational resilience and the behavior of companies in the face of different types of crises.<br /><br /></p> 2023-12-31T00:00:00-05:00 Copyright (c) 2023 Yamile Andrea Montenegro, Pedro Nel Valbuena, Mario Hernan Gonzalez , Boris Cendales Supply chain in Peruvian companies Adaptability of logistics processes 2024-02-26T11:40:57-05:00 Jose Luis Merino Garcés Rosana Alejandra Meleán Romero Giuliana Del Pilar Saravia Ramos Irma Milagros Carhuancho Mendoza <p><br />The supply chain is considered a complex and systematic system consisting of a set of interrelated actors and processes through which companies receive sufficient information to satisfy customer needs and desires and meet production and quality standards. The objective of the research is to analyze the performance of supply chains in Peruvian companies, specifying the adaptation capacity of the logistics processes developed. It was based on the positivist paradigm with a quantitative approach. A data collection instrument was designed, emphasizing process management and logistics. The sample was represented by 343 collaborators from the logistics area. The performance of logistics and process management leads to supply chain efficiency between 38.6% and 54.3%, demonstrating the ability to adapt. The demand, the acquisition of inputs or materials, the administration of the space and the management of its processes merge in the chain to be a whole and generate an environment of technological development managed by human capital and whose objective is customer satisfaction. Efficient performance in supply chains will depend on correct logistics planning and process management to generate better organizational results, promote improvement, flexibility and correct resource management.<br /><br /></p> 2023-12-31T00:00:00-05:00 Copyright (c) 2023 Rosana Alejandra Melean Romero Criterios ASG: retos y oportunidades para la gestión sostenible 2023-12-31T21:11:26-05:00 Diego Alonso García Bonilla <p>La sostenibilidad de la empresa resulta ser una buena indicación de su viabilidad financiera, ya que hace énfasis en una perspectiva de negocio de largo plazo. En principio, las empresas cuya operación incorporan prácticas de sostenibilidad deberían superar a las que no lo hacen, pues priorizan oportunidades de inversión a largo plazo sobre los beneficios de corto, beneficiándose así de una mayor estabilidad y crecimiento de las ganancias y una menor volatilidad de los beneficios futuros. Debido a este enfoque, estas empresas tienen una mejor comprensión de su entorno competitivo y, por tanto, los beneficios de su mayor desempeño son compartidos con la sociedad.</p> <p>En este contexto, los Criterios ASG (Ambiental, Social y Gobernanza) como conjunto de estándares que evalúan el desempeño ético y sostenible en la empresa, representan un marco integral de medición -especialmente en los mercados de capitales- del rendimiento global en términos del impacto al medio ambiente, la relación con la sociedad y la efectividad de las prácticas de gobierno corporativo. Sin embargo, la adopción de criterios ASG frecuentemente se percibe como una visión reduccionista de la gestión sostenible. Aunque estos criterios proporcionan un marco útil para evaluar el desempeño en áreas específicas, esta simplificación podría soslayar la interconexión y la complejidad de los desafíos sostenibles. Así mismo, existe el riesgo de que las empresas acojan estos criterios como "cajas de verificación", donde cumplir con ciertos parámetros de evaluación se convierte en el objetivo final, en detrimento del desarrollo de modelos de negocio de largo plazo que integren las cuestiones propias de su sostenibilidad y las de su entorno.</p> <p>Finalmente, para abordar los retos actuales de la sostenibilidad empresarial de manera más efectiva, es imperativo que las empresas apliquen y apropien en su gestión los criterios ASG, sin dejar de adoptar enfoques más holísticos que consideren el impacto total de sus operaciones en el entorno -cada vez más complejo- y la sociedad. La sostenibilidad debe ser una parte integral de la cultura empresarial, arraigada en los valores y prácticas de la empresa, y no simples respuestas a las demandas externas o al desarrollo de estrategia de relaciones públicas que puedan desembocar en efectos adversos no deseados como el greenwashing en estos mercados.</p> 2023-12-31T00:00:00-05:00 Copyright (c) 2023 Diego Alonso García Resumen del Número 2023-12-31T21:02:56-05:00 Natalia Restrepo López <p>.</p> 2023-12-31T00:00:00-05:00 Copyright (c) 2023 Natalia Restrepo López