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Managerial Decisions that Explain the Growth in Colombian Agribusiness

Decisiones gerenciales que explican el crecimiento de la agroindustria colombiana;
Decisões gerenciais que explicam o crescimento da agroindústria colombiana

dc.contributor.authorMelgarejo Molina, Zuray Andrea
dc.contributor.authorSimon Elorz, Katrin
dc.contributor.authorCalderon Diaz, Mayda Alejandra
dc.date.accessioned2024-01-23T16:14:28Z
dc.date.available2024-01-23T16:14:28Z
dc.date.created2023-05-10
dc.identifier.issn0120-6346
dc.identifier.urihttp://hdl.handle.net/11407/8265
dc.descriptionEconomic growth continues to be one of the most relevant and exciting subareas of economic and managerial decisions. Therefore, the relationship between economic growth and profitability is crucial. However, for business decisions, relevance focuses on the risk-return trade-off, which explains rationality in decision-making. Using a balanced panel data of 418 Agri-food Colombian firms from to 2008-2015 period, we add empirical evidence regarding the effect of the risk-return trade-off to explain the growth path. Firstly, the paper studies the influence of the growth measure for different business sizes. Secondly, the risk-return trade-off, based on the Sharpe ratio explains rational evidence in the growth decisions. The Sharpes ratio is an appropriate measure for ensuring the survival of companies and their long-term competitiveness. This finding also suggests that other contextual variables, such as age, size, or region, can explain the growth path. Finally, the study of growth by sub-period of the economic cycle is broken down to validate the profiles of these companies during periods of economic recession. As future lines of work, there is the study of the relationship between business efficiency or survival and the growth and profitability/risk parameters analyzed.eng
dc.descriptionEl crecimiento económico continúa siendo una de las subáreas más relevantes de la economía y gestión de empresas. La relación entre el crecimiento económico y la rentabilidad es un aspecto crucial. Sin embargo, para la toma de decisiones empresariales, la relevancia se centra en la dualidad rentabilidad/riesgo y que es la que explica la racionalidad en la toma de decisiones. A partir de un panel de datos balanceados de 418 empresas del sector agrícola en Colombia durante el período 2008-2015, se aporta evidencia empírica sobre el efecto del ratio rentabilidad-riesgo para explicar la ruta de crecimiento. En primer lugar, se identifica la influencia de la medida de crecimiento para diferentes tamaños empresariales. En segundo lugar, la relación entre rentabilidad y riesgo en función del Índice de Sharpe permite explicar la evidencia de racionalidad en las decisiones de crecimiento. La importancia de la dualidad rentabilidad-riesgo es una medida adecuada para garantizar la supervivencia de las empresas y su competitividad a largo plazo. Además, se infiere que otras variables de contexto como la edad, el tamaño o la región pueden explicar la ruta de crecimiento. Finalmente, el estudio del crecimiento para distintas fases del ciclo económico permite identificar los perfiles de estas empresas en períodos de recesión económica. Como líneas de trabajo futuras, está el estudio de la relación entre la eficiencia empresarial o supervivencia, y los parámetros de crecimiento y rentabilidad/riesgos analizados.spa
dc.descriptionO crescimento econômico continua sendo uma das subáreas mais relevantes da economia e gestão de empresas. A relação entre o crescimento econômico e a rentabilidade é um aspecto crucial. No entanto, para a tomada de decisões empresariais, a relevância se concentra na dualidade rentabilidade/risco, que é a que explica a racionalidade na tomada de decisões. A partir de um painel de dados balanceados de 418 empresas do setor agrícola na Colômbia durante o período de 2008-2015, é fornecida evidência empírica sobre o efeito do índice rentabilidade-risco para explicar a rota de crescimento. Em primeiro lugar, identifica-se a influência da medida de crescimento para diferentes tamanhos empresariais. Em segundo lugar, a relação entre rentabilidade e risco em função do Índice de Sharpe permite explicar a evidência de racionalidade nas decisões de crescimento. A importancia da dualidade rentabilidade- risco é uma medida adequada para garantir a sobrevivência das empresas e sua competitividade a longo prazo. Além disso, infere-se que outras variáveis de contexto, como a idade, o tamanho ou a região, podem explicar a rota de crescimento. Por fim, o estudo do crescimento para diferentes fases do ciclo econômico permite identificar os perfis dessas empresas em períodos de recessão econômica. Como linhas de trabalho futuras, está o estudo da relação entre a eficiência empresarial ou sobrevivência e os parâmetros de crescimento e rentabilidade/risco analisados.por
dc.formatPDF
dc.format.extentp. 1-23
dc.format.mediumElectrónico
dc.format.mimetypeapplication/pdf
dc.language.isoeng
dc.publisherUniversidad de Medellín
dc.relation.ispartofseriesSemestre Económico; Vol. 25 No. 59 (2022)
dc.relation.haspartSemestre Económico; Vol. 25 Núm. 59 julio-diciembre 2022
dc.relation.urihttps://revistas.udem.edu.co/index.php/economico/article/view/4252
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/4.0*
dc.sourceSemestre Económico; Vol. 25 No. 59 (2022): (julio-diciembre); 1-23
dc.subjectAgrifood industryeng
dc.subjectBusiness cycleeng
dc.subjectGrowtheng
dc.subjectRisk-returneng
dc.subjectSmall firmseng
dc.subjectIndustria agroalimentariaspa
dc.subjectCiclo económicospa
dc.subjectCrecimientospa
dc.subjectRentabilidad-riesgospa
dc.subjectPequeñas empresasspa
dc.subjectIndústria agroalimentarpor
dc.subjectCiclo económicopor
dc.subjectCrescimentopor
dc.subjectRentabilidade-riscopor
dc.subjectPequenas empresaspor
dc.titleManagerial Decisions that Explain the Growth in Colombian Agribusinesseng
dc.titleDecisiones gerenciales que explican el crecimiento de la agroindustria colombianaspa
dc.titleDecisões gerenciais que explicam o crescimento da agroindústria colombianapor
dc.typearticle
dc.identifier.doihttps://doi.org/10.22395/seec.v25n59a2
dc.relation.citationvolume25
dc.relation.citationissue59
dc.relation.citationstartpage1
dc.relation.citationendpage23
dc.audienceComunidad Universidad de Medellín
dc.publisher.facultyFacultad de Ciencias Económicas y Administrativas
dc.coverageLat: 06 15 00 N degrees minutes Lat: 6.2500 decimal degreesLong: 075 36 00 W degrees minutes Long: -75.6000 decimal degrees
dc.publisher.placeMedellín
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dc.rights.creativecommonsAttribution-NonCommercial-NoDerivatives 4.0 International*
dc.identifier.eissn2248-4345
dc.type.coarhttp://purl.org/coar/resource_type/c_6501
dc.type.versioninfo:eu-repo/semantics/publishedVersion
dc.type.localArtículo científico
dc.type.driverinfo:eu-repo/semantics/article
dc.identifier.reponamereponame:Repositorio Institucional Universidad de Medellín
dc.identifier.repourlrepourl:https://repository.udem.edu.co/
dc.identifier.instnameinstname:Universidad de Medellín


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