Iván Andrés Ordóñez-Castaño

This article examines how the recognition, measurement, and disclosure of biological assets (BAs) under IAS 41 affect value creation in Colombian agribusinesses following IFRS adoption. Using EMIS Benchmark data for Colombia, we construct a panel of 157 agro-industrial firms that are neither subsidiaries of multinationals nor listed on the stock exchange; the panel covers 2012–2022, spanning the period before and after IFRS adoption. The database combines accounting and financial indicators with categorical variables capturing the scope of activities, valuation methods (historical cost, realisable value, present value, fair value), and disclosure policies for BAs. Value creation is proxied by EBITDA, return on equity (ROE), and return on assets (ROA). We estimate fixed-effects panel models for three IFRS groups. Results show that, in Group 1, defining the accounting scope and using fair value and present value as measurement bases are associated with higher firm value, while Groups 2 and 3 display positive but statistically weaker effects. Explicit disclosure is also associated with higher profitability, particularly for SMEs. These findings are consistent with agency and firm theories: when entrepreneurial activities are recognised, measured, and disclosed consistently and transparently, information asymmetry and agency costs fall, and accounting policies become a driver of organisational performance in agribusinesses in emerging markets. The results also support the assumptions of institutional theory, as external regulatory pressures from IFRS and internal pressures arising from relationships among firms in the agro-industrial sector shape and reinforce information disclosure practices.

Alternative tourism contributes to the sustainable development of tourism and to the participation of communities in managing tourism within their territories. For this reason, it is pertinent to study the concept, characteristics, and benefits of alternative tourism, as well as its relationship with tourism competitiveness, leading to a methodology for evaluating the potential of a territory as an alternative tourism destination. The main objective of this research is to design a Sustainable Development Index in Alternative Tourism (SDIAT) based on Colombia’s tourism competitiveness indicators, which are focused on the dimensions of sustainable development, as a tool to identify the capacities of a territory associated with the development of this type of tourism. The methodology includes the application of the Delphi technique through a multidisciplinary panel of 15 experts. Two rounds have been conducted for discussion and dissemination based on the experts’ opinions, allowing consensus validation of three dimensions with their weightings and relationships, along with 21 indicators proposed for the index, which are articulated with the measurement of tourism competitiveness. The contribution lies in generating a measurement proposal applicable to different contexts that supports tourism planning and informed decision-making by destination managers, contributing to the creation of inputs for public policy.

El libro El turismo: un reto profesional para la administración aborda la relación entre el turismo y la formación en administración de empresas, centrándose en el Valle del Cauca. A través de un análisis socioeconómico y académico, estudia cómo los profesionales de la administración pueden contribuir a fortalecer la competitividad, sostenibilidad e innovación en el sector turístico, destacando la importancia de nuevas competencias, la integración de la academia con el territorio y la creación de herramientas para una mejor toma de decisiones.

La Revista de Derecho es una publicación arbitrada, de carácter semestral, que tiene por objeto la divulgación de la producción intelectual internacional resultado de proyectos de investigación, en el campo del derecho y la ciencia política.

The study analysed the asymmetry in the disclosure of environmental criteria of the Global Reporting Initiative (GRI) standard based on financial and non-financial information in 37 companies in 19 sub-sectors of the Colombian economy that were assessed by MERCO (Business Monitor of Corporate Reputation) in 2017 and 2018 in terms of corporate reputation, responsibility, and corporate governance. It is based on the theories of agency, stakeholders, and legitimacy, whereby six hypotheses were postulated. The indicators of environmental criteria were retrieved from the website and sustainability reports of each company, using a dichotomous approach for collecting information on environmental activities. The hypotheses were contrasted with a binary choice and panel data models. The results showed that increasing quality and transparency in voluntarily disclosed information decreases its asymmetry, thereby meeting the information needs of stakeholders, providing confidence, and strengthening corporate social responsibility (CSR) activities. In addition, the most indebted and largest companies disclose less information on environmental activities, in contrast to companies with higher solvency. Overall, the study contributed with the calculation of an asymmetry ratio with the MERCO indicators and the use of the insolvency risk variable as an explanatory variable for disclosure. Additionally, it contributed to the field of study of CSR from the Latin American context.

Con base en las posturas de los autores de los diferentes capítulos, este libro pretende incorporar a la economía social y solidaria el concepto de desarrollo incluyente, para de esta manera y en este sentido, lograr entender a lo largo del escrito de qué forma estas dos variables se manifiestan en las prácticas y modelos de gestión en las organizaciones que han optado diferentes organizaciones y proyectos en países como Argentina, Colombia, Ecuador, México y Perú. El acercamiento de la economía social solidaria y el desarrollo incluyente en América Latina se hace bajo la mirada en cuatro momentos: conceptualización, la asociación a través de la economía solidaria, las características de las empresas solidarias y otras tendencias de la economía que pueden conciliarse con la economía social y solidaria. Este libro es una contribución al análisis de la administración y la economía social, que permite presentar la vigencia de las propuestas alternativas de desarrollo económico y social que afloran en el continente. Las ideas expuestas por los investigadores serán un valioso motivo para invitar a la reflexión y al diálogo entre académicos que se preocupen por entender los alcances y la importancia de la economía social.

Purpose: This research examines the likelihood that Panamanian and Colombian banks listed on their respective stock exchanges voluntarily disclose intangible liabilities based on such variables as their size, profitability, indebtedness, age and growth. The presented findings concur with agency theory, signalling theory and the owner-cost theory. Design/methodology/approach: The authors propose a probabilistic model to test the influence of size, profitability, indebtedness, age and growth on the disclosure of intangible liabilities. The dependent variable, the disclosure index, was constructed from a dichotomous approach using Harvey and Lusch's (1999) model, which has 24 characteristics, plus six that we added in our research. These were grouped into four categories: procedures, human activity, information and organisational structure. Findings: Banks in Panama and Colombia with a larger size, higher profitability, lower age and higher growth are more likely to disclose more information about their intangible liabilities. However, indebtedness does not serve as a determinant of the disclosure of these liabilities, even though its relationship is negative. Research limitations/implications: The limitation of the research was the voluntary disclosure of information about these liabilities on firms' websites. Practical implications: The contributions of this research are as follows. First, we used an intangible asset disclosure methodology to verify the disclosure of intangible liabilities, in line with Harvey and Lusch's model, as well as providing another six indicators, thereby producing an extended model. Second, being the first empirical research to study the disclosure of intangible liabilities in Panama and Colombia opens a door to future research on this topic. Social implications: This research provides a significant practical contribution to society because banks listed on public stock markets, understanding that undisclosed intangible liabilities lead to opportunity costs in their profitability, might tend to disclose more information, thus promoting greater transparency in the market. Originality/value: The main contribution of this research is applying an intangible asset disclosure methodology to the disclosure of intangible liabilities, following Harvey and Lusch's (1999) model, as well as the creation of an expanded model.

Este artículo analiza los recursos intangibles revelados por parte de las empresas que cotizan en el mercado de valores de Panamá. Se estudian los factores que pudieran explicar la revelación de estos recursos. La necesidad de mayor transparencia por parte de las empresas cotizadas en este mercado bursátil es creciente, sobre todo por las propias presiones del mercado en el sentido del valor que pudiera ser percibido con la divulgación de estos recursos. El estudio se realiza desde las perspectivas de la teoría de agencia, la señalización y coste del propietario. Se analizó una muestra de 61 empresas, donde se utilizó un índice con 145 indicadores para medir la revelación de los recursos intangibles. Estos están distribuidos en cinco categorías de capital: humano, estructural tecnológico, estructural organizativo, relacional del negocio y relacional social. Cada indicador representa un recurso intangible de la organización y con ellos se desarrollaron modelos para medir la probabilidad de revelación de información de capital humano y capital relacional, componentes del capital intelectual. Los resultados indican que, para las empresas con mayores volúmenes de activos, rentabilidad operacional, nivel de endeudamiento y tiempo en el mercado, la probabilidad de revelación de sus recursos intangibles aumenta.

Para lograr la inclusión económica de la gente, el acceso a capital de trabajo es un factor crítico en países en desarrollo. Uno de los primeros pasos es mediante la inclusión financiera, condición de la cual carecen la gran mayoría de las personas atrapadas en una espiral de pobreza. Los mecanismos establecidos para resolver esa situación es la financiación, con créditos denominados tradicional, microcrédito e informal.En las tres modalidades de financiación, el presente estudio encontró que son costosos; mucho más en la última. Sin embargo, el microcrédito, que es un producto para resolver el problema, no lo es; menos cuando se trata de personas con una necesidad tan clara de resolver su situación económica y con la intención de ser parte del sistema económico existente.Entorno, diciembre 2014, número 57: 56-69