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TantaliteProductioninZimbabweandtheRoleofWorldPriceTrendsinthePastThreeDecades.CONFERENCEPAPERMAY2011

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The Inst i tute for Business and Finance Research

VOLUME 6, NUMBER 2 2011

ISSN 1931-0285 CD

ISSN 1941-9589 ONLINE

San Jos e , Costa Rica May 24-27 , 2011

The IBFR .ORG

GLOBAL CONFERENCE ON BUSINESS AND FINANCEPROCEEDINGS

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TABLE OF CONTENTS ENGLISH PROCEEDINGS .............................................................................................................1 CORPORATE POLICY: THE IMPACT UPON CEO ROLES .........................................................................2

PATRICIA B. ABELS, THE UNIVERSITY OF FINDLAY JOSEPH T. MARTELLI, THE UNIVERSITY OF FINDLAY

LIVE-CASE STUDY LEARNING OUTCOMES: A COMPARISON BETWEEN STUDENTS WITH AND WITHOUT PRIOR INTERNSHIP EXPERIENCE ...........................................................................................................7

FARIDEH A. FARAZMAND, LYNN UNIVERSITY ROBERT D. GREEN, LYNN UNIVERSITY

APPLYING GRADIENT ESTIMATION TECHNIQUE TO ESTIMATE GRADIENTS OF EUROPEAN CALL FOLLOWING VARIANCE-GAMMA................................................................................................................. 12

LINGYAN CAO, UNIVERSITY OF MARYLAND ZHENG-FENG GUO, INTERNATIONAL MONETARY FUND

BECOMING A LEADER: WHAT DOES IT TAKE? ................................................................................. 19

JOSEPH T. MARTELLI, THE UNIVERSITY OF FINDLAY PATRICIA B. ABELS, THE UNIVERSITY OF FINDLAY

REVISITING THE EFFECT OF DIVERSIFICATION ON FIRM PERFORMANCE ................................................. 24

ZHENG-FENG GUO, INTERNATIONAL MONETARY FUND LINGYAN CAO, UNIVERSITY OF MARYLAND

THE QUALITY OF RELATIONAL EXCHANGES AND ITS IMPACT ON MARKETING STRATEGIES A BUYER'S PERSPECTIVE IN FOOD INDUSTRY IN SLOVENIA .............................................................................. 28

MATJAZ IRSIC, UNIVERSITY OF MARIBOR SLOVENIA FORECASTING THE ECONOMIC GROWTH ...................................................................................... 29

TIBERIU STOICA, BUCHAREST ACADEMY OF ECONOMIC STUDIES ACCOUNTING NORMALIZATION: A CONCEPTUAL FRAMEWORK SYSTEM ................................................. 35

IONICA HOLBAN (ONCIOIU), ACADEMY OF ECONOMIES STUDIES FROM BUCHAREST LAURA SARAC ALDEA, ACADEMY OF ECONOMIES STUDIES FROM BUCHAREST

THE IMPACT OF THE ROMANIAN AGRO TOURISM IN THE SMALL AND MEDIUM ENTERPRISES DEVELOPMENT PROCESS ............................................................................................................................ 41

IONICA HOLBAN (ONCIOIU), ACADEMY OF ECONOMIES STUDIES FROM BUCHAREST FLORIN RAZVAN ONCIOIU, UNIVERSITY OF AGRONOMIC SCIENCES AND VETERINARY MEDICINE OF BUCHAREST MATEI AGATON DAN, TOMIS UNIVERSITY FROM CONSTANTA

CHALLENGES FOR THE DEVELOPMENT OF INTANGIBLE ASSETS IN THE ROMANIAN SMALL AND MEDIUM ENTERPRISES ....................................................................................................................... 46

IONICA HOLBAN (ONCIOIU), ACADEMY OF ECONOMIES STUDIES FROM BUCHAREST DANIELA SIMONA NENCIU, DIMITRIE CANTEMIR UNIVERSITY FROM CONSTANTA DAN BALAMACI, THE FREE UNIVERSITY FROM MOLDOVA

PUBLIC RELATIONS VERSUS ADVERTISING IN THE KNOWLEDGE-BASED ECONOMY ..................................... 51

IONICA HOLBAN (ONCIOIU), ACADEMY OF ECONOMIES STUDIES FROM BUCHAREST MARIANA FORFOLEA, FREE INTERNATIONAL UNIVERSITY FROM MOLDOVA MIHAIL SILVIU POCORA, ALEXANDRU IOAN CUZA POLICE ACADEMY

THE MANAGEMENT OF CONFLICTS IN THE KNOWLEDGE-BASED ORGANIZATION ....................................... 55

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IONICA HOLBAN (ONCIOIU), ACADEMY OF ECONOMIES STUDIES FROM BUCHAREST NELU MOCANU, TOMIS UNIVERSITY FROM CONSTANTA

ENVIRONMENTAL ECONOMICS DATA ANALYSIS AND STATISTICAL EXPERIMENTS MANAGEMENT .................... 60

IONICA HOLBAN (ONCIOIU), ACADEMY OF ECONOMIES STUDIES FROM BUCHAREST MARIANA PANAITESCU, CONSTANTA MARITIME UNIVERSITY ANCA NEDEA, FREE INTERNATIONAL UNIVERSITY FROM MOLDOVA GABRIELA CLAUDIA ONCIOIU, LUCIAN BLAGA HIGH SCHOOL FROM CONSTANTA

MANDATING USE TAX COLLECTION BY INTERNET VENDORS: A CONSTITUTIONAL AND POLICY ANALYSIS ........ 68

SARA LINTON, ROOSEVELT UNIVERSITY IP V 6: THE NEXT INTERNET PROTOCOL ...................................................................................... 73

SARA LINTON, ROOSEVELT UNIVERSITY CUSTOMER LOYALTY: A COMPARISON STUDY OF RETAIL STORES ........................................................ 79

MEI-LIEN LI, LYNN UNIVERSITY BOCA RATON, FLORIDA ROBERT D. GREEN, LYNN UNIVERSITY BOCA RATON, FLORIDA FARIDEH A. FARAZMAND, LYNN UNIVERSITY BOCA RATON, FLORIDA ERIKA GRODZKI, LYNN UNIVERSITY BOCA RATON, FLORIDA

ORGANIZATIONAL LEADERSHIP A CODE OF MULTIPLE COLORS: THE RISING OF FEMALE LEADERS ................. 85

MAHMOUD A. ELGAMAL, KUWAIT UNIVERSITY HOLISTIC MODELLING OF THE STRATEGY OF INTERNATIONALISATION: QUANTITATIVE INDICATOR OF THE GRADUALIST APPROACH ......................................................................................................... 88

RUBN FERNNDEZ-ORTIZ, UNIVERSIDAD DE LA RIOJA MNICA CLAVEL SAN EMETERIO, UNIVERSIDAD DE LA RIOJA LEONOR GONZLEZ MENORCA, UNIVERSIDAD DE LA RIOJA

INTERNATIONALISATION OF THE COMPANIES OF THE WINE-PRODUCING SECTOR: ANALYSIS THE UPPSALA MODEL ....................................................................................................................................... 89

MNICA CLAVEL SAN EMETERIO, UNIVERSIDAD DE LA RIOJA RUBN FERNNDEZ-ORTIZ, UNIVERSIDAD DE LA RIOJA LEONOR GONZLEZ MENORCA, UNIVERSIDAD DE LA RIOJA

GLOBAL START-UP PROFILE FROM A RESOURCE AND CAPACITY APPROACH: APPLICATION TO THE SPANISH WINE-PRODUCING SECTOR ....................................................................................................... 90

LEONOR GONZLEZ MENORCA, UNIVERSIDAD DE LA RIOJA RUBN FERNNDEZ-ORTIZ, UNIVERSIDAD DE LA RIOJA MNICA CLAVEL SAN EMETERIO, UNIVERSIDAD DE LA RIOJA

HEDGING, HEDGE ACCOUNTING AND SPECULATION: EXPLORATORY STUDY BASED ON A SAMPLE OF WESTERN CANADIAN OIL AND GAS COMPANIES ........................................................................................... 91

RIKARD SMISTAD, MOUNT ROYAL UNIVERSITY IGOR PUSTYLNICK, SMC UNIVERSITY

THE ROLE OF INFORMATION AND COMMUNICATION TECHNOLOGY (ICT) IN QUALITY SERVICES IMPROVEMENT 105

KOZETA SEVRANI, UNIVERSITY OF TIRANA KLODIANA GORICA, UNIVERSITY OF TIRANA

INTERACTIVE HUMAN REOURCES EDUCATION SOLUTIONS - THE PROVEN PATH TO SUCCESS ..................... 112

ELVIRA NICA, THE ACADEMY OF ECONOMIC STUDIES, BUCHAREST INCREASING THE EFFECTIVENESS OF PUBLIC ORDER EMPLOYEES BY EMPOWERING TRAINING PROCESS CO-FINANCED BY THE EUROPEAN FUND ......................................................................................... 117

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ELVIRA NICA, THE ACADEMY OF ECONOMIC STUDIES, BUCHAREST CATALINA CARMEN HUBA (STEFANESCU), ACADEMY OF ECONOMIC STUDIES IN BUCHAREST ALEXANDRA MIRONESCU, ROMANIAN-AMERICAN UNIVERSITY

INSTILLING CONFIDENCE IN EMPLOYEES IN ORDER TO INCREASE LOYALTY AND EMPLOYEE RETENTION ....... 122

ELVIRA NICA, THE ACADEMY OF ECONOMIC STUDIES, BUCHAREST VIOREL LEFTER, THE ACADEMY OF ECONOMIC STUDIES, BUCHAREST GHEORGHE H. POPESCU, DIMITRIE CANTEMIR UNIVERSITY, BUCHAREST

MANAGING HUMAN RESOURCES SUSTAINABILITY RISKS IN A DYNAMICALLY CHANGING ENVIRONMENT ......... 127

ELVIRA NICA, THE ACADEMY OF ECONOMIC STUDIES, BUCHAREST PETRONELLA NEACSU MATEI, THE BUCHAREST ACADEMY OF ECONOMIC STUDIES ALEXANDRA MIRONESCU, ROMANIAN-AMERICAN UNIVERSITY

DIMENSIONING PROFIT THROUGH TEAM SYNERGY PROMOTION ........................................................ 132

FLORINA LILIANA STAN, UNIVERSITY OF AGRICULTURAL SCIENCES AND VETERINARY MEDICINE, BUCHAREST THE QUANTITATIVE EMPOWERMENT OF BUILDING MATERIALS SALES AS A SYNERGIC OUTPUT OF SMES REDESIGN STRATEGIES ......................................................................................................... 137

LAURENTIU PESTRITU, THE ACADEMY OF ECONOMIC STUDIES BUCHAREST TERMINATION OF SUPPLIER-BUYER RELATIONSHIP ....................................................................... 142

ROMULUS RADULESCU, THE ACADEMY OF ECONOMIC STUDIES BUCHAREST LAURENTIU PESTRITU, THE ACADEMY OF ECONOMIC STUDIES BUCHAREST

RESTRUCTURING OF FINANCIAL CONDITIONS OF A PROJECT IN FINANCIAL DISTRESS .............................. 150

IGOR PUSTYLNICK, SMC UNIVERSITY, ZUG, SWITZERLAND CHALLENGES FACED IN SUPPLIER RELATIONSHIP MANAGEMENT: PERSPECTIVES FROM PRACTITIONERS ....... 159

FESTUS OLORUNNIWO, TENNESSEE STATE UNIVERSITY JOEL JOLAYEMI, TENNESSEE STATE UNIVERSITY CHUNXING FAN, TENNESSEE STATE UNIVERSITY XIAOMING LI, TENNESSEE STATE UNIVERSITY

THE TRADE-OFF OF LIFO: TAX BENEFIT VERSUS THE COST OF INVENTORY RESERVES ............................. 164

LESLIE BOBB, NEW YORK INSTITUTE OF TECHNOLOGY PETER HARRIS, NEW YORK INSTITUTE OF TECHNOLOGY KEVIN OSULLIVAN, NEW YORK INSTITUTE OF TECHNOLOGY

AN ANALYSIS OF US SAVINGS AND LOAN PROFITABILITY IN LIGHT OF THE CURRENT FINANCIAL CRISIS ........ 165

MINE AYSEN DOYRAN, LEHMAN COLLEGE CUNY COST ACCOUNTING AND INFORMATION SYSTEMS REQUIRED FOR MANUFACTURING COMPANIES IN A COMPETITIVE AND DYNAMIC ENVIRONMENT ................................................................................ 166

SAMUEL KOHN, NEW YORK INSTITUTE OF TECHNOLOGY PETER HARRIS, NEW YORK INSTITUTE OF TECHNOLOGY

UNIVERSITY IMAGE: ESSENCE, MEANING, THEORETICAL AND EMPIRICAL INVESTIGATION .......................... 167

GRETA DRUTEIKIENE, VILNIUS UNIVERSITY FOREIGN EXCHANGE EXPOSURE: A SURVEY ................................................................................ 175

PETER HARRIS, NEW YORK INSTITUTE OF TECHNOLOGY, USA SAMUEL KOHN, NEW YORK INSTITUTE OF TECHNOLOGY, USA J.K. YUN, NEW YORK INSTITUTE OF TECHNOLOGY, USA

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THE CURRENT AND FUTURE STATE OF LIFO: A CRITIQUE OF ITS DISADVANTAGES AND AVAILABLE OPPORTUNITIES ................................................................................................................. 176

PETER HARRIS, NEW YORK INSTITUTE OF TECHNOLOGY, USA THE ROLE OF CREDIT AGENCIES IN THE FINANCIAL CRISIS: THEIR DEFENSES AND RECOMMENDATIONS ........ 177

PETER HARRIS, NEW YORK INSTITUTE OF TECHNOLOGY, USA ADELA DEERSON, NEW YORK INSTITUTE OF TECHNOLOGY JAMES DUNNE, NEW YORK INSTITUTE OF TECHNOLOGY N. HAYES, NEW YORK INSTITUTE OF TECHNOLOGY

MISAPPLICATION OF FOR-PROFIT BUSINESS MODELS TO HIGHER EDUCATION ....................................... 178

KOOROS MASKOOKI, WESTERN NEW MEXICO UNIVERSITY STATISTICAL SPECIFICATION AND TESTS OF EFFICIENCY IN FOREIGN EXCHANGE MARKETS ...................... 179

PETER HARRIS, NEW YORK INSTITUTE OF TECHNOLOGY, USA PAUL R. KUTASOVIC, NEW YORK INSTITUTE OF TECHNOLOGY SCOTT LIU, NEW YORK INSTITUTE OF TECHNOLOGY JOHN MALINDRETOS, NEW YORK INSTITUTE OF TECHNOLOGY

CORPORATE SOCIAL RESPONSIBILITY AND SHAREHOLDER VALUE: THE ENVIRONMENTAL CONSCIOUSNESS OF INVESTORS ....................................................................................................................... 180

CAROLINE FLAMMER, KEAN UNIVERSITY CASE STUDY ON IFRS AND US GAAP FINANCIAL REPORTING ............................................................. 181

KATHERINE KINKELA, NEW YORK INSTITUTE OF TECHNOLOGY STEVEN SHAPIRO, NEW YORK INSTITUTE OF TECHNOLOGY

AN IMPROVED MATHEMATICAL PROGRAMMING FORMULATION FOR MULTI-ATTRIBUTE CHOICE BEHAVIOR ..... 182

ASHIS KUMAR CHATTERJEE, INDIAN INSTITUTE OF MANGEMENT, CALCUTTA SOUMOJIT KUMAR, INDIAN INSTITUTE OF MANAGEMENT, CALCUTTA

INTERNAL AUDITING DEVELOPMENTS: COSO STUDIES KEY RISK ASSESSMENT AS A COMPONENT OF ENTERPRISE RISK MANAGEMENT ............................................................................................................. 183

KATHERINE KINKELA, NEW YORK INSTITUTE OF TECHNOLOGY THE GLOBAL SUPPLY CHAIN IN THE DIGITAL AGE: TRANSFORMATIVE FACTORS AFFECTING INDUSTRIAL VENDING ..................................................................................................................................... 184

GABRIEL MANRIQUE, WINONA STATE UNIVERSITY CECILIA MANRIQUE, UNIVERSITY OF WISCONSIN-LA CROSSE

SOCIAL NETWORKING: INTEGRATING STUDENT AND UNIVERSITY PROFESSOR UTILIZATION ...................... 191

ANGELINA I. T. KISER, UNIVERSITY OF THE INCARNATE WORD TIM PORTER, UNIVERSITY OF THE INCARNATE WORD

SHARING OF TACIT KNOWLEDGE IN ORGANIZATIONS IN THE CZECH REPUBLIC ...................................... 197

LUDMILA MLDKOV, UNIVERSITY OF ECONOMICS PRAGUE TEACHING ETHICAL BUSINESS PRACTICES IN A MULTICULTURAL CLASSROOM: UNDERSTANDING DIFFERENCES TO FIND COMMON GROUND ........................................................................................................ 208

KARIN CARUSO, SOUTHERN NEW HAMPSHIRE UNIVERSITY J. STEPHANIE COLLINS, SOUTHERN NEW HAMPSHIRE UNIVERSITY SUSAN SCHRAGLE-LAW, SOUTHERN NEW HAMPSHIRE UNIVERSITY JEANNEMARIE THORPE, SOUTHERN NEW HAMPSHIRE UNIVERSITY

NAXALITE TERRORISM AND ITS EFFECTS ON THE GLOBAL FINANCIAL MARKETS ..................................... 216

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AMY CHEETHAM, CONNECTICUT COLLEGE TANTALITE PRODUCTION IN ZIMBABWE AND THE ROLE OF WORLD PRICE TRENDS IN THE PAST THREE DECADES ..................................................................................................................................... 226

LYMAN MLAMBO, INSTITUTE OF MINING RESEARCH, UNIVERSITY OF ZIMBABWE MOTIVE MUNGONI, DEPARTMENT OF MINING ENGINEERING, UNIVERSITY OF ZIMBABWE

THREES A CROWD, BUT LOWERS PRICES:THE EFFECT OF GEOGRAPHIC DENSITY ON RETAIL GASOLINE PRICES ..................................................................................................................................... 236

DANIEL N.K. JOHNSON, COLORADO COLLEGE KRISTINA M. LYBECKER, COLORADO COLLEGE DEVIN NADAR, COLORADO COLLEGE

CHANGES IN OPERATIONS MANAGEMENT OF PRIVATIZED SPANISH FIRMS............................................. 237

KOLDO ZABALZA, UNIVERSITY OF THE BASQUE COUNTRY JESS MATEY, UNIVERSITY OF THE BASQUE COUNTRY

BLENDED TEAMWORK. THE FACEBOOK EXPERIENCE ...................................................................... 238

MARA DOLORES SNCHEZ FERNNDEZ, UNIVERSITY OF A CORUA USING DYNAMIC CONTEX FOR KNOWLEDGE CREATION PROCESS IN FASHION INDUSTY ............................ 239

FARHAD HASSANI MEHRABAN, KINGS COLLEGE LONDON TESTING THE VALIDITY OF OHSON MODEL (1995) ON THE ITALIAN STOCK EXCHANGE ............................ 240

ANTONELLA SILVESTRI, UNIVERSITY OF CALABRIA STEFANIA VELTRI, UNIVERSITY OF CALABRIA

INTEGRATING SUSTAINABILITY CONCEPTS INTO A MANAGEMENT SCIENCE COURSE ................................ 250

MICHAEL GODFREY, UNIVERSITY OF WISCONSIN OSHKOSH ANDREW MANIKAS, UNIVERSITY OF WISCONSIN OSHKOSH

HOUSEHOLDS RESPONSE TO ECONOMIC CRISIS ........................................................................... 263

PETR JAKUBK, EUROPEAN CENTRAL BANK AND CHARLES UNIVERSITY IN PRAGUE THE PREDOMINANT ROLE OF TECHNICAL ANALYSIS IN THE FOREIGN EXCHANGE MARKET ........................ 280

BERNARDO QUINTANILLA GARCA, UNIVERSIDAD AUTNOMA DEL CARMEN JESS CUAUHTMOC TLLEZ GAYTN, UNIVERSIDAD AUTNOMA DEL CARMEN LAWRENCE A WOLFSKILL, SAM HOUSTON UNIVERSITY

THE IMPACT OF RACE ON FACULTY SALARIES ............................................................................. 286

JAVED ASHRAF, UNIVERSITY OF ST. THOMAS BETWEEN CHANGE AND CONTINUITY: THE EVOLVING DYNAMICS IN THE PROCESS OF BUSINESS INTERNATIONALIZATION ....................................................................................................... 289

GRAZIELLA SICOLI, UNIVERSITY OF CALABRIA, ITALY MANAGEMENT OF THE CONDITIONS PRECEDENT TO A FINANCIAL CRISIS ............................................. 297

JANICE M. BARROW, KENNESAW STATE UNIVERSITY THE ROLE OF A QUALITY SYSTEM IN PERFORMANCE IMPROVEMENT IS ISO 9001 UP-TO-DATE?................. 304

ANTERO OLLILA, AALTO UNIVERSITY SAS 70 TO SSAE 16 / ISAE 3402: AN INSIGHT INTO OUTSOURCING SECURITY AND PROCESS CONTROLS, AND SIGNIFICANCE OF NEW SERVICE AUDIT STANDARDS....................................................................... 315

ANKITA SINHA, INDIAN INSTITUTE OF INFORMATION TECHNOLOGY ALLAHABAD

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ANKITA JAISWAL, INDIAN INSTITUTE OF INFORMATION TECHNOLOGY ALLAHABAD RAHUL GUPTA, INDIAN INSTITUTE OF INFORMATION TECHNOLOGY ALLAHABAD VIJAY K. CHAURASIYA, INDIAN INSTITUTE OF INFORMATION TECHNOLOGY ALLAHABAD

HUNTING FOR TRUE GREEN CONSUMERS: A MULTICULTURAL INVESTIGATION OF CONSUMERS GENUINE WILLINGNESS TO SHARE THE RESPONSIBILITY OF SAVING THE ENVIRONMENT ...................................... 325

SAMAR M. BAQER, KUWAIT UNIVERSITY AN ANALYSIS OF CO2 AND GDP ................................................................................................ 338

PEG HORAN, WAGNER COLLEGE JEAN-CLAUDE DARN, WAGNER COLLEGE

CONCEPT THINKING ............................................................................................................. 347

MIKKO SSKILAHTI, UNIVERSITY OF LAPLAND PORTRAIT OF A COMPANY: DEFINED BENEFIT PENSION PLAN SPONSORS ............................................ 352

KAREN C. CASTRO-GONZLEZ, UNIVERSITY OF PUERTO RICO AN EXPLORATORY STUDY OF EVOLUTIONARY ALGORITHM PARAMETERS ............................................. 362

ANDREW MANIKAS, UNIVERSITY OF WISCONSIN OSHKOSH MICHAEL GODFREY, UNIVERSITY OF WISCONSIN OSHKOSH

MANAGING CLOUD ADOPTION ................................................................................................. 372

PETER GCZY, NATIONAL INSTITUTE OF ADVANCED INDUSTRIAL SCIENCE AND TECHNOLOGY (AIST) NORIAKI IZUMI, NATIONAL INSTITUTE OF ADVANCED INDUSTRIAL SCIENCE AND TECHNOLOGY (AIST) KITI HASIDA, NATIONAL INSTITUTE OF ADVANCED INDUSTRIAL SCIENCE AND TECHNOLOGY (AIST)

AN EMPIRICAL ANALYSIS OF JAMAICAS IMPORT DEMAND FUNCTION: 1996 - 2010 ................................ 373

KIRA HIBBERT, STETSON UNIVERSITY RANJINI L. THAVER, STETSON UNIVERSITY MARK HUTCHINSON, STETSON UNIVERSITY

THE IMPACT OF ECONOMIC LIBERALIZATION ON SOUTH AFRICA'S DISAGGREGATED IMPORT DEMAND FUNCTION WITH NIGERIA .................................................................................................................... 382

RANJINI L. THAVER, STETSON UNIVERSITY E. M. EKANAYAKE, BETHUNE-COOKMAN UNIVERSITY DANIEL R. PLANTE, STETSON UNIVERSITY

MAPPING THE PARIS-METROPOLE: CULTURAL PLANNING AND CITIZEN POLITICS IN AN AGE OF DEMOCRATIC DISTRUST ......................................................................................................................... 388

LARA SOFIA ROMERO, STANFORD UNIVERSITY RAFAEL ROMERO, STATE UNIVERSITY OF NEW YORK INSTITUTE OF TECHNOLOGY

MODEL FOR INFORMATION ANALYSIS AND DECISION MAKING IN SELECTING A NEW BRANCH LOCATION AT THE NATIONAL TERRITORY SCALE - GENETIC ALGORITHMS ................................................................... 393

VICTOR IOANE, THE ACADEMY OF ECONOMIC STUDIES BUCHAREST LAURENTIU PESTRITU, THE ACADEMY OF ECONOMIC STUDIES BUCHAREST

PRINCIPAL AND AGENT PROBLEM ON INSOLVENCY ........................................................................ 402

TATIANA SKERLKOV, UNIVERSITY OF ECONOMICS, PRAGUE ARE BUYBACKS INCREASING EPS? ............................................................................................ 408

MARGARET (PEG) HORAN, WAGNER COLLEGE ASSESSMENT OF ENTERPRISES PERFORMANCE USING THE ANALYSIS OF VALUE CREATION ...................... 419

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ILEANA IULIA ISTUDOR, UNIVERSITY VALAHIA FROM TARGOVISTE, ROMANIA FLORINA MOCANU, UNIVERSITY VALAHIA FROM TARGOVISTE, ROMANIA

STRATEGIC PLANNING DIMENSIONS IN ITALIAN UNIVERSITIES ........................................................... 427

GIOVANNI BRONZETTI, UNIVERSITY OF CALABRIA ROMILDA MAZZOTTA, UNIVERSITY OF CALABRIA MARIA TERESA NARDO, UNIVERSITY OF CALABRIA

GLOBALIZATION DETERMINANT FACTOR OF THE VULNERABILITY ENTERPRISES RESULT ......................... 440

ILEANA IULIA ISTUDOR, UNIVERSITY VALAHIA FROM TARGOVISTE, ROMANIA FLORINA MOCANU, UNIVERSITY VALAHIA FROM TARGOVISTE, ROMANIA

A CRITICAL ANALYSIS OF LEGAL CONTROL OF BANKING CAPITALIZATION IN NIGERIA ............................. 448

OLABODE O. AYORINDE, OBAFEMI AWOLOWO, UNIVERSITY, ILE-IFE, NIGERIA RAPE CULTURE: PERFORMANCE AND PROFITS ............................................................................ 460

FLORINA LILIANA STAN, UNIVERSITY OF AGRICULTURAL SCIENCES AND VETERINARY MEDICINE, BUCHAREST ASSESSING THE IMPACT OF THE SUSU SCHEME IN GHANA: THE VERDICT OF CONTRIBUTORS .................. 465

MICHAEL ADUSEI, GHANA BAPTIST UNIVERSITY COLLEGE SARPONG APPIAH, CHRISTIAN SERVICE UNIVERSITY COLLEGE

LEARNING AND STUDY STRATEGIES GENDER DIFFERENCES IN ACADEMIC PERFORMANCE .................... 475

RICHARD GRIFFIN, UNIVERSITY OF TENNESSEE AT MARTIN ANGELINA S. MACKEWN, UNIVERSITY OF TENNESSEE AT MARTIN ERNEST MOSER, UNIVERSITY OF TENNESSEE AT MARTIN K. W. VANVUREN, UNIVERSITY OF TENNESSEE AT MARTIN

INFORMATION CONTENT OF CHANGES IN PENSION PLAN FUNDING STATUS AND LONG-TERM DEBT ............. 483

KAREN C. CASTRO-GONZLEZ, UNIVERSITY OF PUERTO RICO ESTIMATION OF OPERATIVE RISK FOR FRAUD IN THE VEHICLE INSURANCE SECTOR, APPLYING THE LOSS DISTRIBUTION AGGREGATED (LDA) .......................................................................................... 495

JORGE ANIBAL RESTREPO MORALES, TECNOLGICO DE ANTIOQUIA SANTIAGO MEDINA HURTADO, TECNOLGICO DE ANTIOQUIA

MINORITY BANKS PROFITS, REGULATORY CONSTRAINT LESSONS AND FIRREA SECTION 308 ..................... 500

JOHN A. COLE, NORTH CAROLINA A&T STATE UNIVERSITY LUCY J. REUBEN, DUKE UNIVERSITY

TOURISM DEVELOPMENT AND ECONOMIC GROWTH IN DEVELOPING COUNTRIES .................................... 520

E. M. EKANAYAKE, BETHUNE-COOKMAN UNIVERSITY AUBREY E. LONG, BETHUNE-COOKMAN UNIVERSITY

BLACK BANKS AND THEIR REGULATION FARM CREDIT SYSTEM LESSONS ............................................ 527

JOHN A. COLE, NORTH CAROLINA A&T STATE UNIVERSITY BUSINESS AND LIBRARY FACULTY TEAM TO REPURPOSE LIBRARY E-BOOK DATABASE LICENSE AS FREE TEXTBOOK ALTERNATIVE FOR UNDERGRADUATE STUDENTS ........................................................... 538

ANDY LYNCH, SOUTHERN NEW HAMPSHIRE UNIVERSITY BROOKE RATTO, SOUTHERN NEW HAMPSHIRE UNIVERSITY

ACCRUALS FOR LATIN AMERICAN FIRMS .................................................................................... 545

CARLOS OMAR TREJO-PECH, UNIVERSIDAD PANAMERICANA AT GUADALAJARA, MXICO MAGDY NOGUERA, SOUTHEASTERN LOUISIANA UNIVERSITY, USA

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NGEL SAMANIEGO-ALCNTAR, ITESO, JESUIST UNIVERSITY, AT GUADALAJARA, MXICO RICHARD N. WELDON, UNIVERSITY OF FLORIDA, USA

FACTORS AFFECTING THE IMPLEMENTATION OF STAFF DISCIPLINE SYSTEM IN TURKEY: COMPARISON OF TWO COMPANIES APPLICATION ...................................................................................................... 556

DIDEM PASAOGLU HAMSIOGLU, ANADOLU UNIVERSITY PUBLIC-SECTOR ETHICS AND GOOD GOVERNANCE THE STRATEGIC ROLE OF CONTROL FROM THE PERSPECTIVE OF ACCOUNTABILITY CONSIDERATIONS AND PROPOSALS ................................................................ 568

UBALDO COMITE, UNIVERSITY OF CALABRIA AND UNIVERSITY E-CAMPUS, ITALY FAMILIARITY AND SOCIAL RELATIONSHIPS BETWEEN MEMBERS OF VIRTUAL TEAMS ................................ 577

HARRI VIROLAINEN, TURKU UNIVERSITY-PORI UNIT IMPLEMENTING SOLARIS CONTAINERS TO INCREASE PERFORMANCE AND SCALABILITY OF IMS FINANCIAL AND ERP ................................................................................................................................ 582

GENTI DACI, POLYTECHNIC UNIVERSITY OF TIRANA IMPLICATIONS OF TECHNICAL EDUCATION FOR ECONOMIC COMPETITIVENESS IN AN URBAN ENVIRONMENT .. 588

JOSEPH OBRIEN, WAGNER COLLEGE CORPORATE CODES OF CONDUCT AND BUSINESS PRINCIPLES IN LIGHT OF THE GOLDMAN SACHS ............... 592 LAWSUIT SETTLEMENT ......................................................................................................... 592

MARION S. MOGIELNICKI, MONTCLAIR STATE UNIVERSITY IMPROVEMENTS OF CRYPTOGRAPHIC STRUCTURED LOG FILE SYSTEMS TO PROVIDE HIGHER DATA INTEGRITY ON IMS SYSTEMS ..................................................................................................................... 602

GENTI DACI, POLYTECHNIC UNIVERSITY OF TIRANA MEGI SHYLE, POLYTECHNIC UNIVERSITY OF TIRANA

THE DETERMINANTS OF CASH FOR LATIN AMERICAN FIRMS ............................................................. 610

CARLOS OMAR TREJO-PECH, UNIVERSIDAD PANAMERICANA AT GUADALAJARA, MXICO MAGDY NOGUERA, SOUTHEASTERN LOUISIANA UNIVERSITY, USA

THE EFFECTS OF EXCHANGE RATE VOLATILITY ON SOUTH AFRICAS TRADE WITH THE EUROPEAN UNION .... 620

E. M. EKANAYAKE, BETHUNE-COOKMAN UNIVERSITY RANJINI L THAVER, STETSON UNIVERSITY DANIEL R. PLANTE, STETSON UNIVERSITY

AUDITING DUE DILIGENCE IN LAW AND ETHICS: THE PONZI FEEDER FUND CASES ................................ 628

ALBERT D. SPALDING, JR., WAYNE STATE UNIVERSITY IN SEARCH OF PROFITS: THE CASE OF PHILIPPINE PASSENGER AIRLINES ............................................. 629

WILFRED S. MANUELA JR., ATENEO DE MANILA UNIVERSITY A STUDY OF ECONOMIC INDICATORS WHICH AFFECT THE RETURNS OF REAL ESTATE INVESTMENT TRUSTS IN TAIWAN ........................................................................................................................... 637

TZU-YI YANG, HWA HSIA INSTITUTE OF TECHNOLOGY YU-TAI YANG, CHUNG YUAN CHRISTIAN UNIVERSITY CHI-HSIANG WAN, HWA HSIA INSTITUTE OF TECHNOLOGY BARRY BISHOP, GOLDEN GATE UNIVERSITY

FOREIGN DIRECT INVESTMENT FLOWS: AN EXAMINATION OF ITS DISTRIBUTION AMONG MIDDLE- AND LOW- INCOME COUNTRIES ............................................................................................................. 639

GABRIEL MANRIQUE, FASTENAL COMPANY AND WINONA STATE UNIVERSITY

ix

VAL VLAD, PENNSYLVANIA STATE UNIVERSITY-ERIE HARMONIZATION OF NATIONAL FISCAL POLICIES OF THE EU MEMBER STATES ...................................... 649

PAUL LUCIAN, UNIVERSITY OF SIBIU, ROMANIA DANCIU LUCIAN ALEXANDRU, UNIVERSITY OF SIBIU, ROMANIA

THE USE OF FINANCIAL INFORMATION IN STOCK EXCHANGE DECISION MAKING INVESTMENT IN TANZANIA: A CASE OF IRINGA REGION ....................................................................................................... 653

A.S. NORMAN, TUMAINI UNIVERSITY AND KAMPALA INTERNATIONAL UNIVERSITY DID CONFIDENCE KILL THE TRIFFIN PLAN? ................................................................................. 662

CAROL M. CONNELL, CITY UNIVERSITY OF NEW YORK BROOKLYN COLLEGE ADOPTATION OF INTERNET BANKING IN UAE: FACTORS UNDERLYING ADOPTION CHARACTERISTICS ........... 668

SOMKIAT MANSUMITRCHAI, ALHOSN UNIVERSITY CANDY CHIU, ALHOSN UNIVERSITY

SUSTAINING BRANDS WITH CHANGING ENVIRONMENTAL DYNAMICS. .................................................. 682

ALI MEDABESH, JAZAN UNIVERSITY MOHAMMED GHOUSE MOHIUDDIN, JAZAN UNIVERSITY

CORPORATE GOVERNANCE IN THE NIGERIAN FINANCIAL SECTOR: THE EFFICACY OF INTERNAL CONTROL AND EXTERNAL AUDIT ................................................................................................................ 691

BABALOLA ADEYEMI, CRAWFORD UNIVERSITY ADESOJI ADENUGBA, CRAWFORD UNIVERSITY

IMPLICATIONS OF MICROFINANCING ON THE ECONOMY:THE NIGERIAN CASE ........................................ 699

BABALOLA ADEYEMI, CRAWFORD UNIVERSITY ADESOJI ADENUGBA, CRAWFORD UNIVERSITY

CUSTOMERS PERCEPTION OF INTERNATIONAL FRANCHISING AND ITS IMPACT ON A GROWING MARKET: THE CASE OF SAUDI ARABIA ......................................................................................................... 707

MOHAMMED A. SADI, KING FAHD UNIVERSITY OF PETROLEUM & MINERALS, SAUDI ARABIA KASHIF J. SYED, KING FAHD UNIVERSITY OF PETROLEUM & MINERALS, SAUDI ARABIA QAMAR IFTIKHAR, MOHAMMED SAEED AL-GHAMDI

INVESTING IN EDUCATION IN LATIN AMERICA AND CARIBBEAN THE ROLE OF INTERNATIONAL FINANCIAL CORPORATION ................................................................................................................... 717

ELVIS MUJACEVIC, UNIVERSITY OF RIJEKA ANA VIZJAK, UNIVERSITY OF RIJEKA ANDREA CINDRIC, UNIVERSITY OF RIJEKA

ANALYSIS AND ASSESSMENT OF THE EUROPEAN BANK FOR THE RECONSTRUCTION AND DEVELOPMENT OF THE TOURISM PROJECTS IN EUROPE AND CENTRAL ASIA ...................................................................... 728

ELVIS MUJACEVIC, UNIVERSITY OF RIJEKA ANA VIZJAK, UNIVERSITY OF RIJEKA PETAR JOKIC, UNIVERSITY OF RIJEKA

SPANISH PROCEEDINGS ......................................................................................................... 742 FACTORES DE CONTINGENCIA QUE INCIDEN EN LA PROFESIONALIZACIN Y COMPETITIVIDAD DE LAS EMPRESAS FAMILIARES DEL SECTOR INDUSTRIAL DE TIJUANA, B.C., MXICO ..................................................... 743

ALFONSO VEGA LPEZ, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA MARA VIRGINIA FLORES ORTIZ, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA MARA MARCELA SOLS QUINTEROS, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA

ANLISIS ESTRATGICO EN LAS PEQUEAS EMPRESAS DE LA CONSTRUCCIN EN PUEBLA MXICO ............ 754

x

RAFAELA MARTNEZ MNDEZ, BENEMRITA UNIVERSIDAD AUTNOMA DE PUEBLA ADMINISTRACIN DE PRCTICAS DE CONOCIMIENTO COLABORATIVO EN LAS CADENAS DE SUMINISTROS: CASO ELECTRICS, S.A. ................................................................................................................. 755

JORGE HERNNDEZ PALOMINO, INSTITUTO TECNOLGICO DE CIUDAD JUREZ JOS DE JESS ESPINOZA, INSTITUTO TECNOLGICO DE CIUDAD JUREZ JOS LUIS ANAYA CARRASCO, INSTITUTO TECNOLGICO DE CIUDAD JUREZ MANUEL AGUILAR ARELLANO, INSTITUTO TECNOLGICO DE CIUDAD JUREZ

UNA ACTIVIDAD PARA EL DESARROLLO DE COMPETENCIAS: INDIANA JONES O LA CAZA DEL TESORO .......... 759

MARIA ELENA COBAS COBIELLA,UNIVERSITAT DE VALNCIA RAQUEL GUILLN CATALN, UNIVERSITAT DE VALNCIA MNICA MALDONADO DEVIS,UNIVERSITAT DE VALNCIA

EVALUACIN DE LA OFERTA DEL TRANSPORTE TERRESTRE DE CARGA EN LOS PUERTOS Y LA ZONA INDUSTRIAL DE LA CIUDAD DE CARTAGENA ................................................................................................ 764

JOS MORELOS GMEZ, UNIVERSIDAD DE CARTAGENA JUAN CARLOS VERGARA SCHMALBACH, UNIVERSIDAD DE CARTAGENA TOMS JOS FONTALVO HERRERA, UNIVERSIDAD DE CARTAGENA

JERARQUA DE MOTIVADORES PARA LA COMPRA, EN AMAS DE CASA DE CLASE MEDIA, COMO INSUMO PARA LA ESTRATEGIA COMERCIAL ....................................................................................................... 769

ADOLFO RAFAEL RODRGUEZ SANTOYO, UNIVERSIDAD DE GUANAJUATO GERMN RODRGUEZ FRAS, UNIVERSIDAD DE GUANAJUATO EDUARDO BARRERA ARIAS, UNIVERSIDAD DE GUANAJUATO

PROPUESTA DE UN INDICADOR DE SALUD FINANCIERA Y SU EFECTO EN LA PREDICCIN DEL FRACASO EMPRESARIAL .................................................................................................................... 770

ANTONINA MDICA-MILO, UNIVERSIDAD DE ORIENTE - VENEZUELA J. SAMUEL BAIXAULI S., UNIVERSIDAD DE MURCIA - ESPAA SUSANA LVAREZ D., UNIVERSIDAD DE MURCIA - ESPAA

LOS RETOS DE LAS EMPRESAS FAMILIARES ANTE SU CONTINUIDAD: CASO TEHUACN ............................. 771

HILARIO DAZ GUZMN, UPAEP MIGUEL NGEL CORONA J., UNIVERSIDAD IBEROAMERICANA YSICA MAYETT M., UPAEP

IMPACTO DE LA RSE EN EL DESARROLLO DE LAS ORGANIZACIONES .................................................... 784

MARA DOLORES SNCHEZ FERNNDEZ, UNIVERSIDAD DE A CORUA COMPETENCIAS Y GESTIN DE RIESGOS DE LOS ACTORES DE PROYECTOS ........................................... 785

ZOLTN VERES, ESCUELA SUPERIOR DE ESTUDIOS ECONMICOS DE BUDAPEST, HUNGRA LSZL SAJTOS, UNIVERSIDAD DE AUCKLAND, NUEVA ZELANDA

COMPETITIVIDAD EN MEDIOS DE PUBLICIDAD COMPLEMENTARIA EN MXICO (CASO ISA CORPORATIVO S.A. DE C.V.) ............................................................................................................................... 796

OMAR ERNESTO TERN VARELA, CENTRO UNIVERSITARIO UAEM AMECAMECA GILBERTO CERVANTES MORENO, EGRESADO DE LA ESCA UNIDAD TEPEPAN IPN LUIS BRUNETT PREZ, CENTRO UNIVERSITARIO UAEM AMECAMECA ENRIQUE ESPINOSA AYALA, CENTRO UNIVERSITARIO UAEM AMECAMECA

DERECHOS DE PROPIEDAD INTELECTUAL RELACIONADOS CON EL COMERCIO: (DENOMINACIN DE ORIGEN)... 802

OMAR ERNESTO TERN VARELA, CENTRO UNIVERSITARIO UAEM AMECAMECA BRENDA LISSETTE ALCNTARA HERNNDEZ, ESCA UNIDAD TEPEPAN IPN IRIS NAYELI ALCNTARA HERNNDEZ, EGRESADA DE LA BARRA NACIONAL DE ABOGADOS

xi

OFLIA MRQUEZ MOLINA, CENTRO UNIVERSITARIO UAEM AMECAMECA IMPLICACIONES AMBIENTALES DE LA POLTICA FISCAL EN MXICO..................................................... 807

ROBERTO GONZLEZ ACOLT, UNIVERSIDAD AUTNOMA DE AGUASCALIENTES FELIPE DE JESS SALVADOR LEAL MEDINA, UNIVERSIDAD AUTNOMA DE AGUASCALIENTES BOGAR GARCA MARTNEZ, UNIVERSIDAD AUTNOMA DE AGUASCALIENTES

PLANES DE DESARROLLO DE LAS POLTICAS PBLICAS EN EL DESARROLLO ENDGENO TERRITORIAL Y LAS MICRO, PEQUEAS Y MEDIANAS EMPRESAS (MIPYMES), BAJO EL CONTEXTO DE SU ESTRUCTURA JURDICA ... 812

OMAR ERNESTO TERN VARELA, CENTRO UNIVERSITARIO UAEM AMECAMECA CONCEPCIN ESTFANA LPEZ RAMREZ, CENTRO UNIVERSITARIO UAEM AMECAMECA RANULFO PREZ GARCS, CENTRO UNIVERSITARIO UAEM AMECAMECA MARA DE LOURDES HERNNDEZ ARAGN, CENTRO UNIVERSITARIO UAEM AMECAMECA

EL COMPROMISO ORGANIZACIONAL DEL PERSONAL DOCENTE Y ADMINISTRATIVO DE UNA UNIVERSIDAD PBLICA ..................................................................................................................................... 818

SONIA ELIZABETH MALDONADO-RADILLO, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA ANA MA. GUILLN JIMNEZ, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA RAFAEL ERNESTO CARRANZA PRIETO, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA

AUTONOMIA FINANCIERA DE LOS MUNICIPIOS EN MEXICO 1989-2008 ................................................. 823

MANUEL DIAZ FLORES, UNIVERSIDAD AUTNOMA DE AGUASCALIENTES ROBERTO GONZLEZ ACOLT, UNIVERSIDAD AUTNOMA DE AGUASCALIENTES

FACTORES DE SATISFACCIN DENTRO DEL CLIMA LABORAL DE UNA PYME ........................................... 828

ARMANDINA MARGARITA OLLOQUI LPEZ, UNIVERSIDAD AUTNOMA DE COAHUILA-MXICO MARICELA CAROLINA PEA CRDENAS, UNIVERSIDAD AUTNOMA DE COAHUILA-MXICO EUGENIA MIROSLAVA RAMOS IRUEGAS, UNIVERSIDAD AUTNOMA DE COAHUILA-MXICO

OBTENCIN DE PRECIOS IMPLCITOS PARA ATRIBUTOS DETERMINANTES EN LA VALORACIN DE UNA VIVIENDA ..................................................................................................................................... 834

JULIA M. NEZ TABALES, UNIVERSIDAD DE CRDOBA (ESPAA) JOS M CARIDAD Y OCERIN, UNIVERSIDAD DE CRDOBA (ESPAA) NURIA CEULAR VILLAMANDOS, UNIVERSIDAD DE CRDOBA (ESPAA) FRANCISCO JOS REY CARMONA, UNIVERSIDAD DE CRDOBA (ESPAA)

ANLISIS PORMENORIZADO DE LOS DETERMINANTES INTERNOS EXPLICATIVOS DE LA ACTIVIDAD EXPORTADORA DE UNA EMPRESA ................................................................................................................ 835

JULIA M. NEZ TABALES, UNIVERSIDAD DE CRDOBA (ESPAA) LVARO ESPEJO LEN, UNIVERSIDAD DE CRDOBA (ESPAA) FERNANDO J. FUENTES GARCA, UNIVERSIDAD DE CRDOBA (ESPAA)

SITUACIN ACTUAL Y PERSPECTIVAS ESTRATGICAS DEL SECTOR DEL VINO ESPAOL ............................ 836

JULIA M. NEZ TABALES, UNIVERSIDAD DE CRDOBA (ESPAA) LVARO ESPEJO LEN, UNIVERSIDAD DE CRDOBA (ESPAA) FERNANDO J. FUENTES GARCA, UNIVERSIDAD DE CRDOBA (ESPAA)

PERSONAL ADMINISTRATIVO, SATISFACCIN LABORAL Y VARIABLES SOCIODEMOGRFICAS DE UNA DEPENDENCIA DE EDUCACIN SUPERIOR ...................................................................................................... 837

JORGE FERNANDO KU CRUZ, UNIVERSIDAD TECNOLGICA REGIONAL DEL SUR IDENTIFICACIN DE PERFILES ESTRATGICOS EXITOSOS PARA LA CONTINUIDAD DE NEGOCIOS .................. 847

JOS ANTONIO TELLO VILA, UNIVERSIDAD DE TALCA CAROLINA GONZLEZ VARGAS, UNIVERSIDAD DE TALCA

xii

FACTORES QUE HAN DETERMINADO LA COMPETITIVIDAD A TRAVS DEL MODELO DE LA 5TA. HLICE SISTMICA EN LA INDUSTRIA MAQUILADORA DEL SECTOR ELECTRNICO EN TIJUANA, BAJA CALIFORNIA, MXICO ........ 862

RODOLFO MARTNEZ GUTIRREZ, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA, MXICO MARA MARCELA SOLS QUINTEROS, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA, MXICO SANTOS LEYVA LPEZ, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA, MXICO

MOTIVACIN LABORAL EN EMPLEADOS ADMINISTRATIVOS DE LA UNIVERSIDAD JUREZ AUTNOMA DE TABASCO ..................................................................................................................................... 871

MARA DEL CARMEN ANCONA ALCOCER, UNIVERSIDAD JUREZ AUTNOMA DE TABASCO MANUELA DEL SOCORRO CAMACHO GMEZ, UNIVERSIDAD JUREZ AUTNOMA DE TABASCO CECILIA GARCA-MUOZ APARICIO, UNIVERSIDAD JUREZ AUTNOMA DE TABASCO

APLICACIN DE HERRAMIENTAS DE CALIDAD PARA EL INCREMENTO DE LA PRODUCTIVIDAD EN LA EMPRESA SOLUCIONES COPISER .......................................................................................................... 879

SANDRA PATRICIA DE LA GARZA CIENFUEGOS, UNIVERSIDAD AUTNOMA DE COAHUILA ROBERTO GERARDO ADN SNCHEZ, UNIVERSIDAD AUTNOMA DE COAHUILA MANUEL DE JESS VZQUEZ FRANCO, UNIVERSIDAD AUTNOMA DE COAHUILA

PROYECTOS DE VINCULACIN ESCUELA-EMPRESA COMO ESTRATEGIA DE APOYO EN LA CALIDAD DEL PROCESO ENSEANZA APRENDIZAJE DE LA EDUCACIN SUPERIOR ................................................................ 884

VELIA VERNICA FERREIRO MARTNEZ, UNIVERSIDAD AUTNOMA DEL ESTADO BAJA CALIFORNIA. JANETTE BRITO LAREDO, UNIVERSIDAD AUTNOMA DEL ESTADO BAJA CALIFORNIA. ADRIANA ISABEL GARAMBULLO, UNIVERSIDAD AUTNOMA DEL ESTADO BAJA CALIFORNIA. CAROLINA MARTNEZ LPEZ, UNIVERSIDAD AUTNOMA DEL ESTADO BAJA CALIFORNIA.

EVALUACIN DEL MODELO COLOMBIANO DE DESCENTRALIZACIN ADMINISTRATIVA Y AUTONOMA REGIONAL 885

MARY LUZ ORDOEZ SANTOS, UNIVERSIDAD DE PAMPLONA, COLOMBIA POTENCIALIDAD DE ASOCIATIVIDAD DE HOTELES DEL CENTRO HISTRICO DE LA CIUDAD DE CARTAGENA DE INDIAS- COLOMBIA .............................................................................................................. 896

JUAN CARLOS VERGARA SCHMALBACH, UNIVERSIDAD DE CARTAGENA JOS MORELOS GMEZ, UNIVERSIDAD DE CARTAGENA TOMS JOS FONTALVO HERRERA, UNIVERSIDAD DE CARTAGENA

LIDERAZGO GERENCIAL PROMOTOR DE UN CLIMA LABORAL SATISFACTORIO ........................................ 898

MA. GUADALUPE DIAZ DIAZ, UNIVERSIDAD AUTNOMA DE COAHUILA SANDRA PATRICIA DE LA GARZA CIENFUEGOS,UNIVERSIDAD AUTNOMA DE COAHUILA HERLIM JUDITH AGUIRRE GARCA, UNIVERSIDAD AUTNOMA DE COAHUILA

IMPLEMENTACION DE ALTERNATIVAS DE MEJORA EN UNA EMPRESA DEDICADA A LA COMERCIALIZACION Y DISTRIBUCION DE PRODUCTOS FERRETEROS ............................................................................... 904

IRN JOSU ROSAS RAMREZ, INSTITUTO TECNOLGICO DE ORIZABA, MXICO (ITO) MARA CRISTINA SNCHEZ ROMERO, INSTITUTO TECNOLGICO DE ORIZABA (ITO)

ANLISIS DEL DESARROLLO SOCIAL DE CIUDAD DEL CARMEN, CAMPECHE, DESDE UNA PERSPECTIVA ECONMICA ..................................................................................................................................... 910

CARMELA MONTIEL CABRERA, UNIVERSIDAD AUTNOMA DEL CARMEN PERCEPCIN MULTINIVEL DE LA CALIDAD DEL SERVICIO EDUCATIVO UNIVERSITARIO .............................. 917

OSCAR REYES SNCHEZ, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA MARCELA REYES PAZOS, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA-GUADALUPE VICTORIA

LA ADMINISTRACION DE ASPECTOS FINANCIEROS Y LA INTERNACIONALIZACION DE LAS PYMES COMO BASE DE SU DESARROLLO EN AGUASCALIENTES MEXICO ................................................................................ 927

JESS SALVADOR VIVANCO FLORIDO, UNIVERSIDAD AUTNOMA DE AGUASCALIENTES

xiii

LUIS AGUILERA ENRQUEZ, UNIVERSIDAD AUTNOMA DE AGUASCALIENTES MARTHA GONZLEZ ADAME, UNIVERSIDAD AUTNOMA DE AGUASCALIENTES

ANLISIS DE LOS SISTEMAS DE COLAS EN ENTIDADES FINANCIERAS MEDIANTE DINMICA DE SISTEMAS ......... 932

JUAN CARLOS VERGARA SCHMALBACH, UNIVERSIDAD DE CARTAGENA VCTOR QUESADA IBARGEN, UNIVERSIDAD DE CARTAGENA

EL MARKETING AGROINDUSTRIAL EN MXICO .............................................................................. 934

ANA LAURA PRIEGO PREZ, UNIVERSIDAD JUREZ AUTNOMA DE TABASCO RANDOM WALK ESTRATEGIA DIDCTICA APLICABLE EN LA ENSEANZA DE LAS FINANZAS ........................ 935

GLORIA ALICIA NIEVES BERNAL, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA RAFAEL CRUZ CASANOVA, INSTITUTO TECNOLGICO DE MEXICALI MARA BELN MURILLO PEDRAZA, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA CLAUDIA VIVIANA LVAREZ VEGA, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA ERNESTO ALONSO PREZ MALDONADO, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA

ANLISIS DEL IMPACTO ACADMICO DE LA IMPLEMENTACIN DE LA PLATAFORMA MOODLE EN EL CESUES.... 939

LILIN IVETTHE SALADO RODRGUEZ, CESUES REYNA ISABEL OCHOA LANDN, CESUES ERIKA PATRICIA LVAREZ FLORES, CESUES

LA VOLATILIDAD DEL PESO MEXICANO Y SU EFECTO EN LOS RENDIMIENTOS Y RIESGO DE LA BOLSA MEXICANA DE VALORES ...................................................................................................................... 944

RAL DE JESS GUTIRREZ, UNIVERSIDAD AUTNOMA DEL ESTADO DE MXICO APLICACIN DE VARIABLES DE LA MERCADOTECNIA DE SERVICIOS PARA VIEDOS CON POTENCIAL TURSTICO ..................................................................................................................................... 945

JORGE ANTONIO VALDERRAMA MARTNEZ, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA RICARDO VERJN QUIONES, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA JOS GABRIEL RUIZ ANDRADE,UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA

PROPUESTA DE UN ESQUEMA ANALTICO PARA EL ESTUDIO DE LA COOPERACIN INTEREMPRESARIAL ......... 950

MA. ZCHITL ARAIZA GARZA, UNIVERSIDAD AUTNOMA DE COAHUILA CARMEN ESTELA CARLOS ORNELAS, INSTITUTO TECNOLGICO DE AGUASCALIENTES NIDIA HERNNDEZ CASTRO, UNIVERSIDAD AUTNOMA DE COAHUILA MA. DE LOS NGELES SILVA OLVERA, INSTITUTO TECNOLGICO DE AGUASCALIENTES

LA PRODUCCION Y EL MARKETING DEL VINO: ANALISIS DE LAS TENDENCIAS MUNDIALES Y SUS POSIBILIDADES DE APLICACIN A CONTEXTOS LOCALES ........................................................................................ 956

JORGE ANTONIO VALDERRAMA MARTNEZ, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA RICARDO VERJN QUIONES, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA MARGARITA RAMREZ TORRES, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA

PERCEPCIN DE ALUMNOS Y PROFESORES SOBRE LA IMPORTANCIA DE LOS ESTUDIOS UNIVERSITARIOS EN LA UNIVERSIDAD TECNOLGICA DE SAN JUAN DEL RO ...................................................................... 961

RAFAEL ALBERTTI GONZLEZ NERI, UNIVERSIDAD TECNOLGICA DE SAN JUAN DEL RO JOVITA GEORGINA NERI VEGA, UNIVERSIDAD AUTNOMA DE QUERTARO RAFAEL GONZLEZ ZARZA, UNIVERSIDAD AUTNOMA DE QUERTARO ARON IVN GONZLEZ NERI, UNIVERSIDAD AUTNOMA DE QUERTARO

INDUSTRIA AUTOMOTRIZ Y LOS AUTOS VERDES ........................................................................... 965

RICARDO MELGOZA RAMOS, UNIVERSIDAD AUTNOMA DE CD. JUREZ JULIN ALBERTO LVAREZ HERNNDEZ, UNIVERSIDAD AUTNOMA DE CD. JUREZ LYDIA NESBITT VALENZUELA, UNIVERSIDAD AUTNOMA DE CD. JUREZ

xiv

GABRIELA VELASCO, UNIVERSIDAD AUTNOMA DE CD. JUREZ EL MTODO DE CASOS EN LOS POSGRADOS DE MXICO .................................................................. 974

MANUELA DEL SOCORRO CAMACHO GMEZ, UNIVERSIDAD JUREZ AUTNOMA DE TABASCO CANDELARIA GUZMN FERNNDEZ, UNIVERSIDAD JUREZ AUTNOMA DE TABASCO JENNER PRIEGO PADRN, UNIVERSIDAD JUREZ AUTNOMA DE TABASCO

COMPROMISO LABORAL EN LAS MIPYMES DEDICADAS A LA VENTA DE INSUMOS O SERVICIOS A LA MAQUILADORA EXPORTADORA ................................................................................................................... 981

JAVIER ZEPEDA MIRANDA, UNIVERSIDAD TECNOLGICA DE CIUDAD JUREZ CONSUELO CATALINA FERNNDEZ GAXIOLA, UNIVERSIDAD TECNOLGICA DE CIUDAD JUREZ MARTHA ANAYACIN CORONADO GRANADOS, UNIVERSIDAD TECNOLGICA DE CIUDAD JUREZ MARA DE LOS NGELES LPEZ MARTNEZ, UNIVERSIDAD TECNOLGICA DE CIUDAD JUREZ JOS LUIS VENEGAS MENDIOLA, UNIVERSIDAD TECNOLGICA DE CIUDAD JUREZ JOAQUN GODOY MENDOZA, UNIVERSIDAD TECNOLGICA DE CIUDAD JUREZ

UNA PROPUESTA ALTERNATIVA PARA FORTALECER LAS FINANZAS PBLICAS MEXICANAS ........................ 986

OSCAR PRIEGO HERNANDEZ, UNIVERSIDAD JUREZ AUTNOMA DE TABASCO EVALUACIN DE LA COMPETITIVIDAD Y USO DE TIC EN LAS INSTITUCIONES EDUCACIN DEL VALLE DE TECOMN, COLIMA, MXICO................................................................................................... 987

OSCAR MARES BAUELOS, UNIVERSIDAD DE COLIMA JESS MARTN SANTOS VIRGEN, UNIVERSIDAD DE COLIMA ARQUMEDES ARCEGA PONCE, UNIVERSIDAD DE COLIMA ALFREDO SALVADOR CRDENAS VILLALPANDO, UNIVERSIDAD DE COLIMA PORFIRIO RODRGUEZ ESPINOSA, UNIVERSIDAD DE COLIMA

COMPROBACIN DE RANDOM WALK EN EL MERCADO BURSTIL DE COLOMBIA ..................................... 997

JUAN BENJAMN DUARTE DUARTE, UNIVERSIDAD INDUSTRIAL DE SANTANDER-COLOMBIA JUAN MANUEL MASCAREAS PREZ-IIGO, UNIVERSIDAD COMPLUTENSE DE MADRID-ESPAA

EL CICLO DE VIDA DEL CLSTER AUTOMOTRIZ EN AGUASCALIENTES ................................................. 1002

BOGAR GARCA MARTNEZ, UNIVERSIDAD AUTNOMA DE AGUASCALIENTES ROBERTO GONZLEZ ACOLT, UNIVERSIDAD AUTNOMA DE AGUASCALIENTES FELIPE DE JESS SALVADOR LEAL MEDINA, UNIVERSIDAD AUTNOMA DE AGUASCALIENTES

TURISMO SUSTENTABLE EN CUATRO CIENEGAS DE CARRANZA COAHUILA MEXICO UNA ALTERNATIVA DE DESARROLLO .................................................................................................................... 1008

VERNICA DE LEN ESTAVILLO, UNIVERSIDAD AUTNOMA DE COAHUILA FERNANDO AGEROS SNCHEZ, UNIVERSIDAD AUTNOMA DE COAHUILA

BENEFICIOS DEL USO DE LA MEZCLA PROMOCIONAL EN LAS MYPIMES DE LA INDUSTRIA DEL CALZADO DE LA CIUDAD DE TICUL, YUCATN ................................................................................................. 1013

ARMINDA PATRICIA VARGAS TN, UNIVERSIDAD TECNOLGICA REGIONAL DEL SUR DE TEKAX LUIS FERNANDO BEZ GONZLEZ, UNIVERSIDAD TECNOLGICA REGIONAL DEL SUR DE TEKAX ROBERTO JOEL BRITO VILLANUEVA, UNIVERSIDAD TECNOLGICA REGIONAL DEL SUR DE TEKAX

ADMINISTRACIN FISCAL PARA PRODUCTORES DE LIMN DE TECOMN, COLIMA, MXICO ....................... 1023

TOBAS LVAREZ LUNA, UNIVERSIDAD DE COLIMA JESS MARTN SANTOS VIRGEN, UNIVERSIDAD DE COLIMA PORFIRIO RODRGUEZ ESPINOSA, UNIVERSIDAD DE COLIMA ALFREDO SALVADOR CRDENAS VILLALPANDO, UNIVERSIDAD DE COLIMA OSCAR MARES BAUELOS, UNIVERSIDAD DE COLIMA

IDENTIFICACIN DEL TIPO DE LIDERAZGO EN UN CENTRO AUTOMOTRIZ: UN DIAGNOSTICO Y UNA CRITICA .. 1035

xv

EDUARDO F. MACIAS-NEGRETE, INSTITUTO TECNOLGICO DE CIUDAD JUREZ. ESTHER A. ENRQUEZ-PREZ, INSTITUTO TECNOLGICO DE CIUDAD JUREZ EDUARDO ZEPEDA, INSTITUTO TECNOLGICO DE CIUDAD JUREZ.

DESERCIN DE LOS ESTUDIOS DE POSTGRADO EN VENEZUELA: APROXIMACIONES A SUS FACTORES VINCULANTES ................................................................................................................... 1045

GABRIEL AGUILAR, UNIVERSIDAD DEL ZULIA-VENEZUELA RUBN ARAUJO COBARRUBIO, UNIVERSIDAD DEL ZULIA-VENEZUELA CATERINA CLEMENZA, UNIVERSIDAD DEL ZULIA-VENEZUELA

CARACTERIZACIN METODOLGICA PARA EVALUAR EL IMPACTO DE LOS SISTEMAS DE GESTIN DE LA CALIDAD ISO 9001, EN LAS UTILIDADES OPERATIVAS DE LAS EMPRESAS DE LA ZONA INDUSTRIAL MAMONAL ............ 1046

TOMS JOS FONTALVO HERRERA, UNIVERSIDAD DE CARTAGENA JOS MORELOS GMEZ, UNIVERSIDAD DE CARTAGENA ADEL ALFONSO MENDOZA MENDOZA, UNIVERSIDAD LIBRE DE BARRANQUILLA

FACTORES QUE AFECTAN EL COMPROMISO DE LOS EMPLEADOS EN UNA EMPRESA INTERNACIONAL EN EL AREA DE CD. JUAREZ ................................................................................................................. 1051

ALBERTO CRDENAS VALENZUELA, INSTITUTO TECNOLGICO DE CIUDAD JUREZ OSCAR ALBERTO CRDENAS MORALES, EMPRESA JPMORGAN CHASE VASTERA, MXICO JORGE ARMANDO CRDENAS MORALES, INSTITUTO TECNOLGICO DE CIUDAD JUREZ, KAREN PAOLA DE LA ROSA ANDAZOLA, INSTITUTO TECNOLGICO DE CIUDAD JUREZ) IRMA LETICIA MORALES GONZLEZ, INSTITUTO TECNOLGICO DE CD. JUREZ

EMPRESA UNIPERSONAL: UNA REFORMA PARA LA COMPETITIVIDAD DEL EMPRESARIO MEXICANO .............. 1057

JORGE ARMANDO CRDENAS MORALES., INSTITUTO TECNOLGICO DE CD. JUREZ LORENZO FUENTES MIRAMONTES, UNIVERSIDAD AUTNOMA DE CD. JUREZ IRMA LETICIA MORALES GONZLEZ, INSTITUTO TECNOLGICO DE CD. JUREZ ALBERTO CRDENAS VALENZUELA, INSTITUTO TECNOLGICO DE CD. JUREZ

CAUSAS Y SNTOMAS DE LA QUIEBRA BANCARIA ANLISIS CON PLS-PM .............................................. 1069

CARLOS SERRANO-CINCA, UNIVERSITY OF ZARAGOZA, SPAIN Y. FUERTES-CALLN, UNIVERSITY OF ZARAGOZA, SPAIN B. GUTIRREZ-NIETO, UNIVERSITY OF ZARAGOZA, SPAIN B. CULLAR-FERNNDEZ, UNIVERSITY OF ZARAGOZA, SPAIN

LA CREACIN DEL CENTRO DESARROLLO EMPRESARIAL UABC, Y SU IMPACTO EN LAS MICRO, PEQUEAS Y MEDIANAS EMPRESAS DEL VALLE DE MEXICALI ............................................................................ 1075

MARCELA REYES PAZOS, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA, CAMPUS MEXICALI ALFREDO PADILLA LPEZ, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA, CAMPUS MEXICALI OSCAR REYES SNCHEZ, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA, CAMPUS MEXICALI

CAPITAL INTELECTUAL: LA INNOVACIN INDICADOR DEL CAPITAL ESTRUCTURAL EN EMPRESAS DEL SECTOR MANUFACTURERO EN AGUASCALIENTES ................................................................................... 1080

MARTHA GONZLEZ ADAME, UNIVERSIDAD AUTNOMA DE AGUASCALIENTES HAYDE AGUILAR ROMERO, UNIVERSIDAD AUTNOMA DE AGUASCALIENTES GONZALO MALDONADO GUZMN, UNIVERSIDAD AUTNOMA DE AGUASCALIENTES

METODOLOGIA PARA ESTIMAR EL COSTO DEL PATRIMONIO EN EMPRESAS COLOMBIANAS QUE NO COTIZAN EN BOLSA ............................................................................................................................ 1089

JAVIER FUENTES, UNIVERSIDAD EXTERNADO DE COLOMBIA CARLOS ANDRS LPEZ, UNIVERSIDAD EXTERNADO DE COLOMBIA ANA MARA PARDO, UNIVERSIDAD EXTERNADO DE COLOMBIA RAFAEL CAMARGO, UNIVERSIDAD EXTERNADO DE COLOMBIA FERNANDO LIZARAZO, UNIVERSIDAD EXTERNADO DE COLOMBIA

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SISTEMA DE SOPORTE DE DECISIONES PARA LA CADENA DE ABASTECIMIENTO DE PORCELANA SANITARIA EN COLOMBIA ....................................................................................................................... 1102

CAROLINA SALDAA CORTS, UNIVERSIDAD EXTERNADO DE COLOMBIA. BOGOT CARLOS IVAN GONZALEZ URIBE, CIGUCON SAS-TUNJA

ESTILOS DE APRENDIZAJE Y EL USO DE TECNOLOGAS EN EL DESARROLLO DE COMPETENCIAS PROFESIONALES DEL LICENCIADO EN ADMINISTRACIN DE EMPRESAS EN LA UABC .................................................... 1103

MARA CONCEPCIN RAMREZ BARN, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA UN ENFOQUE ESTRATEGICO PARA LA SOBREVIVENCIA DE LAS PYME EN LA COMARCA LAGUNERA ............. 1116

MANUEL MEDINA ELIZONDO, UNIVERSIDAD AUTNOMA DE COAHUILA-TORREN VCTOR MANUEL MOLINA MOREJN, UNIVERSIDAD AUTNOMA DE COAHUILA-TORREN MARA DEL CARMEN ARMENTEROS ACOSTA, UNIVERSIDAD AUTNOMA DE COAHUILA-TORREN SANDRA LPEZ CHAVARRA, UNIVERSIDAD AUTNOMA DE COAHUILA-TORREN

LOS RETOS DEL EMPRENDEDOR: LA PROBLEMTICA DE ABRIR Y MANTENER UN NUEVO NEGOCIO .............. 1119

LUIS LENIN HERRERA DAZ DE LEN, UNIVERSIDAD AUTNOMA DE AGUASCALIENTES ANA IRIS ACERO PADILLA, UNIVERSIDAD AUTNOMA DE AGUASCALIENTES HAYDE AGUILAR ROMERO, UNIVERSIDAD AUTNOMA DE AGUASCALIENTES

LOS CANALES DE DISTRIBUCIN COMO FACTOR DE COMPETITIVIDAD PARA EL PRODUCTOR DE TRIGO DEL VALLE DE MEXICALI, BAJA CALIFORNIA, MXICO.................................................................................. 1120

LEONEL ROSILES LPEZ, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA BLANCA ROSA GARCA RIVERA, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA CRUZ ELDA MACAS TERN, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA SANTIAGO PREZ ALCAL, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA

EL PRECIO FACTOR DE COMPETITIVIDAD PARA EL PRODUCTOR DE TRIGO DEL VALLE DE MEXICALI, BAJA CALIFORNIA, MXICO .......................................................................................................... 1125

LEONEL ROSILES LPEZ, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA BLANCA ROSA GARCA RIVERA, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA CRUZ ELDA MACAS TERN, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA SANTIAGO PREZ ALCAL, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA

BENEFICIOS DE LA CERTIFICACIN DE LOS PROGRAMAS EDUCATIVOS DE CONTADURA Y ADMINISTRACIN DE LA UNIVERSIDAD VERACRUZANA ................................................................................................. 1131

MINERVA PARRA USCANGA, UNIVERSIDAD VERACRUZANA HCTOR JULIN VARGAS RUBN, UNIVERSIDAD VERACRUZANA CELIA DEL PILAR GARRIDO VARGAS, UNIVERSIDAD VERACRUZANA PATRICIA ARIETA MELGAREJO, UNIVERSIDAD VERACRUZANA LUIS ALEJANDRO GASCA HERRERA, UNIVERSIDAD VERACRUZANA

METODOLOGA PARA LA IMPLEMENTACIN DE PROGRAMAS DE EMPRENDEDORES A TRAVS DE LA VINCULACIN DE LAS UNIVERSIDADES Y LAS ESCUELAS DE NIVEL BSICO, PARA FOMENTAR LA CULTURA EMPRENDEDORA EN LA NIEZ ......................................................................................................................... 1136

FRANCISCO MEZA HERNNDEZ, UNIVERSIDAD AUTNOMA DEL ESTADO DE BAJA CALIFORNIA-CAMPUS MEXICALI SANTIAGO PREZ ALCAL, UNIVERSIDAD AUTNOMA DEL ESTADO DE BAJA CALIFORNIA-CAMPUS MEXICALI ADELAIDA FIGUEROA VILLANUEVA, UNIVERSIDAD AUTNOMA DEL ESTADO DE BAJA CALIFORNIA-CAMPUS MEXICALI GLORIA MUOZ DEL REAL, UNIVERSIDAD AUTNOMA DEL ESTADO DE BAJA CALIFORNIA-CAMPUS MEXICALI

GESTIN DE STAKEHOLDERS: IMPACTO DE UN PROGRAMA DE RESPONSABILIDAD SOCIAL CORPORATIVA EN ENFERMOS DE DIABETES EN CHIHUAHUA, MXICO ....................................................................... 1141

OSCAR JAVIER MONTIEL MNDEZ, UNIVERSIDAD AUTNOMA DE CD. JUREZ (UACJ) JESS CARLOS MARTNEZ RUIZ, UNIVERSIDAD AUTNOMA DE CHIHUAHUA (UACH) MARTHA GRACIELA URBINA MARTNEZ, UNIVERSIDAD AUTNOMA DE CHIHUAHUA (UACH)

xvii

ZOILA ARMBULA MONREAL, CENTRO DE BACHILLERATO TECNOLGICO INDUSTRIAL Y DE SERVICIOS 114 (C.B.T.I.S. NO. 114) UNIVERSITARIOS SOCIALMENTE RESPONSABLES Y EDUCACIN ........................................................ 1151

LUCILA PEZ TIRADO, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA RAQUEL OLIVIA ROA RIVERA, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA ROSALBA RAQUEL HERNNDEZ MEDINA, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA PATRICIA GUADALUPE GARCA CABRALES, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA

EL DESARROLLO DE CAPACIDADES TECNOLGICAS Y LA VINCULACIN CON INSTITUCIONES EDUCATIVAS Y GUBERNAMENTALES EN LAS PYMES DE LA INDUSTRIA METALMECNICA DE LA REGIN CENTRO DE COAHUILA, MXICO ........................................................................................................................... 1161

ELVIRA VELARDE LPEZ, UNIVERSIDAD AUTNOMA DE COAHUILA-MXICO EDNA DE LA GARZA MARTNEZ, UNIVERSIDAD AUTNOMA DE COAHUILA-MXICO EUNICE CORONADO ROJAS, UNIVERSIDAD AUTNOMA DE COAHUILA-MXICO

MODELO DE COMPETITIVIDAD BASADO EN EL CONOCIMIENTO: EL CASO DE LAS PYMES DEL SECTOR DE TECNOLOGAS DE INFORMACIN EN BAJA CALIFORNIA ................................................................. 1167

EDUARDO AHUMADA-TELLO, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA JUAN MANUEL ALBERTO PERUSQUIA VELASCO,UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA MARTHA ELENA LPEZ REGALADO, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA ROBERT EFRAN ZRATE CORNEJO, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA ALFONSO VEGA LPEZ, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA

LAS PRCTICAS DE GESTIN DE LA INNOVACIN EN LAS MICRO, PEQUEAS Y MEDIANAS EMPRESAS: RESULTADOS DEL ESTUDIO DE CAMPO EN PIEDRAS NEGRAS COAHUILA, MXICO ................................... 1178

MARA DEL CARMEN ARMENTEROS ACOSTA, UNIVERSIDAD AUTNOMA DE COAHUILA MANUEL MEDINA ELIZONDO, UNIVERSIDAD AUTNOMA DE COAHUILA LAURA L. BALLESTEROS MIRN, UNIVERSIDAD AUTNOMA DE COAHUILA VCTOR MANUEL MOLINA MOREJN,UNIVERSIDAD AUTNOMA DE COAHUILA

ESTRATEGIA LDICA DE ENSEANZA-APRENDIZAJE: CASO SISTEMA DE MARATONES DEL CONOCIMIENTO DE LA UNIVERSIDAD VERACRUZANA Y LA ASOCIACIN NACIONAL DE FACULTADES Y ESCUELAS DE CONTADURA Y ADMINISTRACIN (ANFECA) .................................................................................................. 1185

PATRICIA ARIETA MELGAREJO, UNIVERSIDAD VERACRUZANA NANCY ARACELY OLIVARES RUZ, UNIVERSIDAD VERACRUZANA ELDA MAGDALENA LPEZ CASTRO, UNIVERSIDAD VERACRUZANA HCTOR JULIN VARGAS RUBN, UNIVERSIDAD VERACRUZANA MINERVA PARRA USCANGA, UNIVERSIDAD VERACRUZANA

ANLISIS JERRQUICO EN LA EVALUACION INTEGRAL A PROVEEDORES ............................................. 1196

JOS LUIS ANAYA CARRASCO, INSTITUTO TECNOLGICO DE CIUDAD JUREZ JORGE HERNNDEZ PALOMINO, INSTITUTO TECNOLGICO DE CIUDAD JUREZ JOS DE JESS ESPINOZA, INSTITUTO TECNOLGICO DE CIUDAD JUREZ MANUEL AGUILAR ARELLANO, INSTITUTO TECNOLGICO DE CIUDAD JUREZ

LA CAPACITACION COMO HERRAMIENTA PARA LA VENTAJA COMPETITIVA DENTRO DE UNA EMPRESA ARNESERA: UN ANALISIS MICRO Y UNO SISTEMICO ...................................................................................... 1207

ESTHER A. ENRQUEZ-PREZ, INSTITUTO TECNOLGICO DE CIUDAD JUREZ EDUARDO F. MACIAS-NEGRETE, INSTITUTO TECNOLGICO DE CIUDAD JUREZ ERICK GMEZ-AGUILAR, INSTITUTO TECNOLGICO DE CIUDAD JUREZ

LA EDUCACIN SUPERIOR EN MXICO EN INVESTIGACIN CIENTFICA CUALITATIVA CONCEPTUAL EN ADMINISTRACIN; BASES, CUESTIONAMIENTOS Y PROPUESTA ......................................................... 1215

GERMN RODRGUEZ FRAS, UNIVERSIDAD DE GUANAJUATO VCTOR LUIS MURO SALINAS, UNIVERSIDAD DE GUANAJUATO

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ADOLFO RAFAEL RODRGUEZ SANTOYO, UNIVERSIDAD DE GUANAJUATO FACTORES NO FINANCIEROS DETERMINANTES EN LAS DECISIONES DE INVERSION ................................. 1216

MARIO CHAN, UNIVERSIDAD TECNOLGICA REGIONAL DEL SUR EL DESARROLLO HUMANO EN COLOMBIA DESDE LA PERSPECTIVA DE MANFRED MAX NEEF ...................... 1226

IRIS MARA VLEZ OSORIO, UNIVERSIDAD ICESI ESTRATEGIAS DE COMERCIALIZACIN DEL TURISMO CINEGETICO EN EL ESTADO DE AGUASCALIENTES ........ 1236

ARACELI GUTIRREZ GUZMN, UNIVERSIDAD AUTNOMA DE AGUASCALIENTES HAYDE AGUILAR ROMERO, UNIVERSIDAD AUTNOMA DE AGUASCALIENTES JUAN CARLOS MORENO AGUILERA, UNIVERSIDAD AUTNOMA DE AGUASCALIENTES

CARACTERIZACIN DE LAS METODOLOGAS UTILIZADAS PARA LA MEDICIN DE LA SATISFACCIN DE LOS CLIENTES EN LAS CLNICAS Y HOSPITALES DE BUCARAMANGA Y SU REA METROPOLITANA ..................... 1242

ELIDIA ESTHER GALVIZ MUOZ, UNIVERSIDAD INDUSTRIAL DE SANTANDER NSTOR RAL ORTZ PIMIENTO, UNIVERSIDAD INDUSTRIAL DE SANTANDER

XITOS Y FRACASOS EN LA PLANIFICACIN TURSTICA: EL CASO DEL ESTADO DE CHIHUAHUA, MXICO ...... 1246

JULIN ALBERTO LVAREZ HERNNDEZ, UNIVERSIDAD AUTNOMA DE CIUDAD JUREZ JESS ALBERTO RODRGUEZ ALONSO, UNIVERSIDAD AUTNOMA DE CIUDAD JUREZ LAURA ESTELA ANGUIANO HERRERA, UNIVERSIDAD AUTNOMA DE JUREZ

FACTORES DEL CAPITAL SOCIAL QUE FACILITAN LA COOPERACIN ENTRE LAS PEQUEAS EMPRESAS: CASO DE LA INDUSTRIA METALMECNICA DE LA REGIN CENTRO DE ESTADO DE COAHUILA EN MXICO ................. 1255

MA. ZCHITL ARAIZA GARZA, UNIVERSIDAD AUTNOMA DE COAHUILA NIDIA HERNNDEZ CASTRO, UNIVERSIDAD AUTNOMA DE COAHUILA DARIELA SARA SNCHEZ CAMPOS, UNIVERSIDAD AUTNOMA DE COAHUILA

COMPARACION DEL NIVEL DE EMPRENDIMIENTO DE LOS ALUMNOS DE DOS UNIVERSIDADES TECNOLOGICAS . 1261

MARIO CHAN, UNIVERSIDAD TECNOLGICA REGIONAL DEL SUR JUAN BALAM, UNIVERSIDAD TECNOLGICA REGIONAL DEL SUR

PROPUESTA DE UN MODELO PARA MEJORAR LA COMPETITIVIDAD EN EL SERVICIO DE LOS GUAS DE TURISTAS EN LA CIUDAD DE CANCN, Q. ROO ............................................................................................. 1273

LUCILA ZRRAGA CANO, UNIVERSIDAD DEL CARIBE, CANCN Q. ROO. VCTOR MANUEL MOLINA MOREJN, UNIVERSIDAD AUTNOMA DE COAHUILA, TORREN, MXICO. JOS GABRIEL RUZ ANDRADE, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA ENRIQUE CORONA SANDOVAL, UNIVERSIDAD DEL CARIBE, CANCN Q. ROO

EL IMPACTO DE LAS NUEVAS TENDENCIAS DE MODERNIZACION DE LA ADMINISTRACION PUBLICA FEDERAL (APF) ENLA ATENCION AL CIUDADANO EN LA DELEGACION DE SEMARNAT EN BAJA CALIFORNIA ....................... 1278

JUAN CARLOS AVITIA, UNIVERSIDAD AUTNOMA DEL ESTADO DE BAJA CALIFORNIA SOSIMA CARRILLO, UNIVERSIDAD AUTNOMA DEL ESTADO DE BAJA CALIFORNIA ANA CECILIA BUSTAMANTE VALENZUELA, UNIVERSIDAD AUTNOMA DEL ESTADO DE BAJA CALIFORNIA JULIO CSAR LEN PRIENTO, UNIVERSIDAD AUTNOMA DEL ESTADO DE BAJA CALIFORNIA

INNOVACIN SOBRE LA COORDINACIN DEL PROFESORADO DEL CENTRO DE ESTUDIOS SUPERIORES DEL ESTADO DE SONORA (CESUES) .......................................................................................................... 1290

EMMA VANESSA CASAS MEDINA, CENTRO DE ESTUDIOS SUPERIORES DEL ESTADO DE SONORA NORMA LORENA ARENAS MOZQUEDA, CENTRO DE ESTUDIOS SUPERIORES DEL ESTADO DE SONORA

EVALUACIN DEL SERVICIO SOCIAL PLAN DE ESTUDIOS 2001 DE LA UNIDAD ACADMICA HERMOSILLO DEL CESUES ........................................................................................................................... 1295

EMMA VANESSA CASAS MEDINA, CENTRO DE ESTUDIOS SUPERIORES DEL ESTADO DE SONORA

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NORMA LORENA ARENAS MOZQUEDA, CENTRO DE ESTUDIOS SUPERIORES DEL ESTADO DE SONORA EVALUACIN DE UN PROGRAMA SOCIAL PARA ADULTOS MAYORES EN EL GOBIERNO DE CHIHUAHUA, MXICO. .................................................................................................................................... 1301

FLOR ROCO RAMREZ MARTNEZ, UNIVERSIDAD NACIONAL AUTNOMA DE MXICO LUIS FLORES PADILLA, UNIVERSIDAD AUTNOMA DE CIUDAD JUREZ FERNANDO URIARTE ZAZUETA, GOBIERNO DEL ESTADO DE CHIHUAHUA JUANA TREJO FRANCO, UNIVERSIDAD AUTNOMA DE CIUDAD JUREZ CARMEN PATRICIA JIMNEZ TERRAZAS, UNIVERSIDAD AUTNOMA DE CIUDAD JUREZ

ESTRATEGIAS DE LOS PEQUEOS PRODUCTORES AGRCOLAS PARA INSERTARSE EN LAS CADENAS DE SUPERMERCADOS ............................................................................................................... 1302

GERARDO VERA MUOZ, BENEMRITA UNIVERSIDAD AUTNOMA DE PUEBLA CARLOS ARTURO TORRES GASTEL, UNIVERSIDAD VERACRUZANA MONSERRAT VERA MUOZ, BENEMRITA UNIVERSIDAD AUTNOMA DE PUEBLA

CARACTERIZACIN DEL NIVEL DE DESEMPEO EN LA GESTIN DE LOS PROCESOS EN IPS - CLNICAS Y HOSPITALES DE BUCARAMANGA Y SU AMB................................................................................. 1303

LUPITA SERRANO GMEZ, UNIVERSIDAD PONTIFICIA BOLIVARIANA NSTOR RAL ORTZ PIMIENTO, UNIVERSIDAD INDUSTRIAL DE SANTANDER

DIAGNOSTICO PARA QUE EL PRODUCTOR AGRCOLA DEL ESTADO DE COLIMA PARTICIPE EN EL MERCADO EXPORTADOR ................................................................................................................... 1309

AURELIO DENIZ GUIZAR, UNIVERSIDAD DE COLIMA JESUS OTONIEL SOSA RODRIGUEZ, UNIVERSIDAD DE COLIMA OSCAR BERNARDO REYES REAL, UNIVERSIDAD DE COLIMA

LA ACTIVIDAD OVINOCAPRINA EVALUADA A TRAVES DE LA CADENA DE VALOR .................................... 1321

GLORIA MUOZ DEL REAL, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA LOURDES PATRICIA ESCOBAR PREZ, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA JUAN BENITO VELA REYNA, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA

LAS CERTIFICACIONES DE CALIDAD ISO 9001 DE 2000 COMO ESTRATEGIA PARA GENERAR VENTAJA COMPETITIVA EN EL SECTOR INDUSTRIAL DE IBAGU ................................................................... 1322

LUIS IGNACIO LPEZ VILLEGAS, UNIVERSIDAD NACIONAL DE COLOMBIA MARIO MONTOYA, UNIVERSIDAD NACIONAL DE COLOMBIA

LA REALIDAD VIRTUAL INMERSIVA UNA PROPUESTA DE IMPLEMENTACIN EN LA FACULTAD DE CIENCIAS ADMINISTRATIVAS- DEL HOMOSAPIENS AL HOMOVIDENS? ............................................................... 1326

RICARDO CHING WESMAN, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA ADELAIDA FIGUEROA VILLANUEVA, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA SOSIMA CARRILLO, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA RUTH CATALINA ROS GONZLEZ, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA RAQUEL OLIVIA ROA RIVERA, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA JULIETA SALDIVAR GONZALEZ, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA

AMBIGEDAD DE ROL EN INVESTIGADORES MEXICANOS ................................................................. 1332

DENEB EL MAGAA MEDINA, UNIVERSIDAD JUREZ AUTNOMA DE TABASCO EDITH GEORGINA SURDEZ PREZ, UNIVERSIDAD JUREZ AUTNOMA DE TABASCO CARLOS DAVID ZETINA PREZ, UNIVERSIDAD JUREZ AUTNOMA DE TABASCO

RESULTADOS .................................................................................................................. 1337 RESPONSABILIDAD SOCIAL AL PAGO DE CONTRIBUCIONES .............................................................. 1343

ALMA DELIA INDA, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA RAL GONZLEZ NEZ, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA

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EL DESAFO DE LAS COMPETENCIAS GERENCIALES Y LA COMPETITIVIDAD DE LOS NEGOCIOS INTERNACIONALES EN EL INSTITUTO DE ESTUDIOS UNIVERSITARIOS, (IEU) PUEBLA (MX) ................................................ 1349

ELAS SOSA SNCHEZ, BENEMRITA UNIVERSIDAD AUTNOMA DE PUEBLA, MXICO. ADRIANA SOTO AGUILAR, BENEMRITA UNIVERSIDAD AUTNOMA DE PUEBLA, MEXICO

FACTORES QUE IMPACTAN EN EL CRECIMIENTO DE LA PRODUCTIVIDAD EN LA INDUSTRIA DE MAQUINADOS DE CD JUAREZ .......................................................................................................................... 1359

LETICIA MORALES GONZLEZ, INSTITUTO TECNOLGICO DE CIUDAD JUREZ KAREN PAOLA DE LA ROSA ANDOSLA, INSTITUTO TECNOLGICO DE CIUDAD JUREZ MANUEL A. RODRGUEZ MEDINA, INSTITUTO TECNOLGICO DE CIUDAD. JUREZ ALBERTO CRDENAS VALENZUELA, INSTITUTO TECNOLGICO DE CIUDAD JUREZ

EL SUPERETE: FORMA COMERCIAL EMERGENTE EN CARTAGENA DE INDIAS COLOMBIA ........................... 1369

EMPERATRIZ LONDOO ALDANA, UNIVERSIDAD DE CARTAGENA MARA EUGENIA NAVAS ROS, UNIVERSIDAD DE CARTAGENA

DIAGNSTICO DEL CLIMA LABORAL EN UNA EMPRESA PYMES DEL SECTOR SERVICIOS:CASO DISTRIBUIDORA JULIE............................................................................................................................ 1370

NEMECIO LORENZO VALENZUELA SALAZAR, UNIVERSIDAD AUTNOMA DE COAHUILA JULIN MARTNEZ ESPINOSA, UNIVERSIDAD AUTNOMA DE COAHUILA CLARA PATRICIA BUENTELLO MARTNEZ, UNIVERSIDAD AUTNOMA DE COAHUILA ESPERANZA GUADALUPE RAMREZ OJEDA, UNIVERSIDAD AUTNOMA DE COAHUILA

VALORACIN DE EMPRESAS EN CRISIS ...................................................................................... 1378

ELBAR RAMREZ, UNIVERSIDAD NACIONAL DE COLOMBIA MARGOT CAJIGAS ROMERO, UNIVERSIDAD AUTNOMA DE OCCIDENTE, UNIVERSIDAD NACIONAL DE COLOMBIA PEDRO JIMNEZ ESTVEZ, UNIVERSIDAD DE CASTILLA-LA MANCHA

DETERMINACIN DE LOS FACTORES INFLUYENTES SOBRE LOS NDICES DE REPROBACIN Y EFICIENCIA TERMINAL MEDIANTE LA METODOLOGA MTS EN UNA INSTITUCIN DE EDUCACIN SUPERIOR (IES). ........... 1384

MANUEL A. RODRGUEZ MEDINA, INSTITUTO TECNOLGICO DE CD. JUREZ MANUEL IVN RODRGUEZ BORBN, NUEVO MXICO STATE UNIVERSITY JORGE HERNNDEZ PALOMINO, INSTITUTO TECNOLGICO DE CD. JUREZ JOS LUIS LPEZ GALVN, INSTITUTO TECNOLGICO DE CIUDAD JUREZ

APROXIMACIN SOCIOECONMICA EN UNA COOPERATIVA DE PRODUCCIN PESQUERA .......................... 1391 DIVERSIDAD Y SUSTENTABILIDAD ORGANIZATIVA ........................................................................ 1391

ROSILUZ CEBALLOS POVEDANO, UNIVERSIDAD DEL CARIBE INNOVACION Y CAMBIO ORGANIZACIONAL EN SIEMENS-MXICO ....................................................... 1395

MA. DEL CARMEN DOMNGUEZ ROS, BENEMRITA UNIVERSIDAD AUTNOMA DE PUEBLA MICHELE ALEXANDRA CORONA DOMNGUEZ, BENEMRITA UNIVERSIDAD AUTNOMA DE PUEBLA

ANALISIS DE LOS DETERMINANTES DE LA PARTICIPACION FEMENINA EN EL MERCADO LABORAL DE LA CIUDAD DE LA SERENA, CHILE .............................................................................................................. 1403

ERICO WULF BETANCOURT, UNIVERSIDAD DE LA SERENA NORMA ISO 9001: 2008 Y EL PROGRAMA INSTITUCIONAL DE TUTORAS: MODELO DE CONVERGENCIA PARA LA MEJORA DE LA CALIDAD EDUCATIVA INSTITUCIONAL-CASO DE XITO EN CESUES UAM MAGDALENA ........... 1416

REFUGIO SAMANIEGO BADILLA, CENTRO DE ESTUDIOS SUPERIORES DEL ESTADO DE SONORA UNIDAD MAGDALENA ESTADO DE POSICIN FINANCIERA AMBIENTAL ........................................................................... 1421

MARA ANTONIETA MONSERRAT VERA MUOZ, BENEMRITA: UNIVERSIDAD AUTNOMA DE PUEBLA GERARDO VERA MUOZ, BENEMRITA UNIVERSIDAD AUTNOMA DE PUEBLA

xxi

ANA CECILIA RIVERA JIMNEZ, BENEMRITA UNIVERSIDAD AUTNOMA DE PUEBLA IMPACTO DEL TRATADO DE LIBRE COMERCIO DE AMRICA DEL NORTE, LA UNIN EUROPEA Y EL TRATADO DE LIBRE COMERCIO PARA REPBLICA DOMINICANA Y CENTRO AMRICA EN LAS EXPORTACIONES DE PUERTO RICO .................................................................................................................................... 1433

AILN PADILLA GONZLEZ, UNIVERSIDAD INTERAMERICANA DE PUERTO RICO NECESIDAD ESTRATGICA DE INTERNACIONALIZACIN ANTE LA REALIDAD EXPORTADORA DE LAS COOPERATIVAS OLECOLAS DE CASTILLA-LA MANCHA-MXICO MERCADO POTENCIAL ................................................ 1447

JOS MANUEL QUESADA RUBIO, UNIVERSIDAD DE GRANADA FRANCISCO MAY HERNNDEZ, UNIVERSIDAD DEL CARIBE CANCN IGNACIO RUIZ GUERRA, FUNDACIN CAJA RURAL DE TOLEDO & UNIVERSIDAD DE CASTILLA-LA MANCHA

APORTACIN E IMPORTANCIA DE LAS FRANQUICIAS EN LA ECONOMA MEXICANA: REALIDAD O FANTASIA? . 1463

FRANCISCO MAY HERNNDEZ, UNIVERSIDAD DEL CARIBE CANCN EL CONOCIMIENTO DEL IDIOMA EXTRANJERO COMO ESTRATEGIA COMPETITIVA: CASO FACULTAD DE CIENCIAS ADMINSITRATIVAS .............................................................................................................. 1473

MARA BELN MURILLO PEDRAZA, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA CLAUDIA VIVIANA LVAREZ VEGA, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA GLORIA ALICIA NIEVES BERNAL, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA RAQUEL OLIVIA ROA RIVERA, UNIVERSIDAD AUTNOMA DE BAJA CALIFORNIA

LA ORALIDAD EN LOS JUICIOS MERCANTILES COMO SOLUCIN A LA GARANTA DE PRONTITUD Y EXPEDITEZ EN LA IMPARTICIN DE JUSTICIA ................................................................................................ 1474

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MIGUEL CERVANTES DE LA ROSA, UNIVERSIDAD DE GUADALAJARA MARA GUADALUPE REYES SERRANO, UNIVERSIDAD DE GUADALAJARA

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ENGLISH PROCEEDINGS

Global Conference on Business and Finance Proceedings Volume 6 Number 2 2011

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CORPORATE POLICY: THE IMPACT UPON CEO ROLES

Patricia B. Abels, The University of Findlay Joseph T. Martelli, The University of Findlay

ABSTRACT

Corporate scandals, fraudulent financial reporting and recent turmoil in the United States have heightened stakeholders attention concerning corporate governance policies. The corporate demise has devastated the public confidence in these powerful firms. Boards of Directors have a fiduciary responsibility to protect the interests of shareholders from the conflicting interests of management. In response, the Federal government, the Security and Exchange Commission, the American stock exchanges and shareholders have requested public companies to reform its governance structure into a two-tier system. Concentrating on the agency and stewardship theories, this paper investigates the compliance status within the largest 500 firms in the United States. The analysis reveals the most frequent title held by the Chief Executive Officer in 2008 is CEO/Chairman and 60.6 percent of CEOs serve in the capacity of Chairman. The analysis further reveals that in 2010, the most frequent title held by the Chief Executive Officer is CEO/President and 38.4 percent of CEOs serve in the capacity of Chairman. There is little evidence to support that a two-tier system improves profits, sales revenue or shareholder returns. However, the practice of a two-tier system appears to becoming a reality within the United States, whether on a voluntary or mandatory basis. JEL: C1; K2; L5; M1 KEYWORDS: Descriptive study, governance regulation, duality policy, board of directors INTRODUCTION Corporate scandals, fraudulent financial reporting and recent turmoil in the United States (US) have heightened stakeholders attention concerning corporate governance policies, e.g. Enron and WorldCom. The corporate demise has devastated public confidence in these powerful firms. In order to re-establish the publics confidence, President George W. Bush signed into law the Sarbanes Oxley Act (SOX) in 2002. The act intends to regulate the financial activity and corporate governance of public companies. The board of directors has a fiduciary responsibility to protect the interests of shareholders from the conflicting interests of management. Duality positions can permit CEOs to exercise control over the board of directors, which weakens the oversight power of the board. In response, the Federal government, the Security and Exchange Commission, the American stock exchanges and shareholders have requested public companies to reform its governance structure into a two-tier system. Concentrating on the agency and stewardship theories, this paper investigates the two-tier compliance status within the largest 500 firms in the US, as reported by Fortune Magazine in 2008 and 2010. The discussion begins by examining the legislation fueling the change to implement a two-tier governance system within public organizations. Following is a discussion of the theories (agency and stewardship) that explain the relationship between management and shareholders. The research design is quantitative and descriptive and analyzes the conformity within the US concerning the governance structures practiced within the largest 500 US firms. There is a discussion addressing the results of the analysis followed by concluding remarks.


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LITERATURE REVIEW Legislation The organizational structure of a corporation defines a firms policies and its relationships between the board of directors, management, stockholders and stakeholders. The board of directors has a fiduciary responsibility to protect the interests of shareholders and legally the board of directors should work as a fiduciary agent to protect the shareholder from conflicts of interest with management. CEOs are responsible for running the daily activities of corporations whereas Chairmen are responsible for the board of directors, including corporate governance, senior management recruitment and CEO succession (Lublin, 2009). The foundation of corporate governance relies on the disclosures that enhance trust in corporations by allowing public confidence to increase within those organizations. The control mechanism, which governs the activities of management and overseen by the board of directors, is termed corporate governance (Bozec, 2005). The monitoring function of the board of directors has intensified because of the mayhem of recent corporate scandals. The board of directors has a responsibility to shareholders, which includes monitoring the actions of management and taking any necessary corrective actions against management, such as dismissal (Fairchild and Li, 2005). The most important external party of a corporation is its shareholders (Van Ees, Gabrielsson and Huse, 2009). In the eyes of stakeholders, the independence of the board of directors diminishes when a CEO holds the title Chairman. As a result, companies are beginning to split the role of CEO and Chairman. In order to re-establish the publics confidence level in public companies, President George W. Bush has signed into law the Sarbanes-Oxley Act (SOX) in 2002. The act did have an overwhelming approval in the House and in the Senate (SOX, 2002). The Securities and Exchange Commission (SEC) regulates corporate compliance of SOX. All publicly traded companies exchanging in the US markets that have registered debt securities or equity ownership must comply with the requirements of SOX (SOX, 2002). The act has increased the accountability of both the board of directors and the management team. The act requires management to supply additional supplementary disclosures that ensures the accuracy and representation of the financial reports. The New York Stock Exchange (NYSE) and the National Association of Security Dealers Automated Quotations (NASDAQ) considered the adoption of an amendment to the regulation that would mandate and forbid a dual CEO role. The stock exchanges expectations are to make the board of directors appear more independent in the eyes of investors while at the same time strengthening a corporations corporate governance policy. The amendment requires board membership of listed public companies to be predominately composed of independent directors, not management (SEC, 2003). In order to provide adequate information sought by shareholders, an amendment proposal by the SEC surrounding corporate governance transpired. The 2009 amendment enhances the corporate disclosure policies surrounding the corporate leadership structure. The proposal restricts CEOs from also serving as Chairman of the board of directors. Under the proposal, public corporations need to justify and disclose the reason why the firm has selected a CEO and Chairman combined position instead of implementing separate roles (SEC, 2009). Theory: The prime rationalization of the agency theory was to explain the relationship between the principal (stockholders) and its agents (management). Underlying the agency theory, the owners of the corporation elect agents to perform the daily operating decisions on their behalf (Abdullah and Valentine, 2009). A relationship exists between principal and agent through delegation, which conceivably could create a conflict of interest (Hendry and Kiel, 2004). The agency theory assumes that a principal or agent


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opts for the best alternative that increases his or her own personal benefit (Davis, Schoorman and Donaldson, 1997; Kochhar, 1996). Agency theory expects an agents behavior to be opportunistic and self-serving with motivation that satisfies their personal goals (Podrug, Filipovic and Milic, 2010). The conflict creates an opportunity and financial incentive for dual CEOs to neglect the best interests of principals (Kochhar, 1996). CEO duality undermines the oversight power of the board of directors, since management dominates the board (McGrath, 2009; Nicholson and Kiel, 2007). The stewardship theory disputes the self-serving interest of agents as suggested under the agency theory (Hendry and Kiel, 2004). The theory proposes that stewards (management) are inclined and motivated to conduct themselves in a manner that prioritizes the interests of shareholders (Davis, Schoorman and Donaldson, 1997). The stewardship theory challenges the agency theory because stewards (management) are inclined to implement decisions benefiting the entire organization rather than for personal gratification (Filipovic, Podrug and Kristo, 2010; Hendry and Kiel, 2004; Nicholson and Kiel, 2007). Management selects the alternative considered pro-organizational instead of self-serving in nature (Davis, Schoorman and Donaldson, 1997). The agency theory considers duality as a hindrance to firm performance because independence is lacking and agency costs are increasing within firms. The separation of duality positions does restrict CEO authority to influence the board of directors (Finkelstein and Mooney, 2003). On the other hand, proponents of the stewardship theory consider dual representation enhances firm performance because the organization is more efficient and effective in reaching the goals within organizations. The agency theory has been the prevailing paradigm and the stewardship theory should be a complimentary model rather than superior model to agency theory (Anderson, Melanson and Maly, 2007). DATA AND METHODOLOGY The research design selected was a quantitative and descriptive research in order to analyze compliance with a two-tier governance structure within the US. The investigation seeks to uncover the status of the extent in which CEO duality exist within the US. Secondary data acquired from various business-related databases and other online sources permitted a complete coverage of the 500 cases under analysis for this study. The 500 cases selected were the top revenue-producing firms within the US based upon the 2008 Fortune 500 listing. For comparison purposes, the newly appointed CEOs in 2010 were included for firms that had remained on the Fortune listing with the original 2008 firms. The selection process permitted CEOs managing the top 500 companies in the US to be included in the study along with newly appointed CEOs. The collection of data resulted in 100 percent of the CEO population for 2008 and 2010 to be included in the study. In order to establish the principal industry sector for companies under analysis, the North American Industry Classification System (NAICS) at the two-digit level was the product classification system used. Descriptive statistics permitted the analyzing and summarizing of the reported observations. EMPIRICAL RESULTS The analysis revealed the most frequent title held by a Chief Executive Officer in 2008 was CEO/Chairman and 60.6 percent of Fortune 500 CEOs served in the capacity of Chairman. The analysis further revealed that in 2010, the most frequent title held by a Chief Executive Officer was CEO/President and 38.4 percent of Fortune 500 CEOs served in the capacity of Chairman. The decline in CEO duality was consistent with the agency theory. There was little evidence to support that a two-tier system improved profits, sales revenue or shareholder returns. However, the board of directors has a legal fiduciary responsibility under common law to protect principals from conflicting interest of management. The practice of a two-tier system appears to becoming a reality within the US, whether on a voluntary or mandatory basis.


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CONCLUSION Government, SEC, stock exchanges and shareholders alike have suggested that companies in the U.S. should convert and implement a two-tier system for corporate governance. Legislation has been introduced that would forbid CEOs from also serving as Chairmen; and the SEC has pushed a move which would require public corporations to justify its board leadership structures (News Editor, 2009). Additionally, the NYSE and the NASDAQ have considered the adoption of a new regulation that would mandate and forbid a dual CEO role. Investors have submitted proxy proposals that would also ban this type of dual policy. The stock exchanges expectations are to make the board of directors appear more independent in the eyes of investors (News Editor, 2009). REFERENCES Abdullah, H., and Valentine, B. (2009), Fundamental and ethics theories of corporate governance. Middle Eastern Finance and Economics, 4, 88-96. Anderson, D., Melanson, S., and Maly, J. (2007), The evolution of corporate governance: Power redistribution brings boards to life. Corporate Governance: An International Review, 15, 5, 780-797. Bozec, R. (2005), Boards of directors, market discipline and firm performance. Journal of Business, Finance and Accounting, 32, 9, 1921-1960. Davis, J. H., Schoorman, F. D., and Donaldson, L. (1997), Toward a stewardship theory of management. The Academy of Management Review, 22, 1, 20-47. Fairchild, L., and Li, J. (2005), Director quality and firm performance. The Financial Review, 40, 257-279. Filipovic, D., Podrug, N., and Kristo, M. (2010), Assessment of relations between stewardship and stakeholder theory. DAAAM International, 21, 1, 1229-1230. Finkelstein, S., and Mooney, A. (2003), Not the usual suspects: How to use board process to make boards better. Academy of Management Executives, 17, 2, 101-113. Hendry, K., and Kiel, G. (2004), The role of the board in firm strategy: Integrating agency and organisational control perspectives. Corporate Governance: An International Review, 12, 4, 500-520. Kochhar, R. (1996), Explaining firm capital structure: The role of agency theory vs. transaction cost economics. Strategic Management Journal, 17, 9, 713-728. Lublin, J. (2009), Chairman-CEO split gains allies. The Wall Street Journal. Retrieved January 15, 2011, from WSJ.com: http://online.wsj.com McGrath, J. (2009), How CEOs work. Retrieved January 15, 2011, from HowStuffWorks.com: http://money.howstuffworks.com/ceo.htm News Editor, (2009), Separation anxiety: splitting the chair, CEO roles. Directorship Boardroom Intelligence, ava

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