No abstract

The present paper proposes the use of a life cycle investment benchmark (called actual position benchmark or apb) in the asset types allowed in the consar rules for Mexican pension funds (Siefores). Its mean-variance efficiency is tested against the equally weighted, the minimum variance and max Sharpe ratio (msr) portfolios with a daily backtest from April 2008 to April 2013 and a 10-year daily Monte Carlo simulation. The results suggest that even though the msr portfolio gives the highest accumulated return, the apb is an acceptable benchmark by its stable and statistically equal Sharpe ratio, its max drawdown behavior, and its statistically equal return against the former.

The highly competitive environment in which companies move means that they are constantly searching for initiatives that increase their legitimacy. The consideration of corporate social responsibility within the strategy of the company, means that it can be considered as a vehicle to legitimize companies in the face of society. Therefore, this research aims to analyze the relationship between corporate social responsibility and social legitimacy. For this, a case study will be carried out on 4 companies (three Spanish and one Mexican) included in the MERCO Responsibility and Corporate Governance Ranking, Fortune World’s Most Admired Companies and Fortune Global 500 for the period 2017-2018. The research reveals the existence of a positive relationship between social legitimacy and corporate social responsibility with business results, obtaining as a main conclusion that legitimacy represents within the company an intangible and key resource that must be managed so as not to lose it.

En este trabajo se presenta un análisis que proporciona una mejor toma de decisiones en un entorno de incertidumbre, dentro de la organización en el área de gestión de los recursos humanos (RRhh). En este proceso se busca minimizar l a incertidumbre mediante el uso de criterios cuantitativos y cualitativos. Haciendo uso de fuzzy logic se toma como criterio de cálculo el uso de las distancias de Hamming y Euclidiana promoviendo una toma de decisiones más eficiente y eficaz, lo que llevará a las empresas a una posición competitiva al contar con capital intelectual sobresaliente.

El objetivo de este artículo es identificar los factores financieros que determinan la rentabilidad de los bancos que operan en México. Para alcanzar dicho objetivo se emplea la herramienta de estadística multivariable de análisis factorial. Los resultados muestran que los factores financieros que contribuyen a la rentabilidad son: 1) Margen financiero ajustado por riesgos crediticios; y 2) Gastos de administración y promoción.