Search

Copyright of Tecnura is the property of Tecnura and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This paper explores the determinants of credit risk for the Colombian economy, a small emerging economy in Latin American. Using a sample of 28 large banks over the 2009–2019 period and the dynamic data panel approach, we find that the macroeconomic environment's deterioration affects the credit risk perception held by banks as measured through non-performing loans and loan loss provisions. On the other hand, a better political environment brought about by peace accords smoothed such an impact. Estimates indicate different reactions when distinguishing by loan type. Business credit depends heavily on unemployment, while consumer credit risk is more sensitive to the interest rate. In the case of mortgage loans, economic growth and the unemployment rate are the most critical variables to mitigate risk. These results shed light on the impact of the economic environment on credit lines with different features. [ABSTRACT FROM AUTHOR]

Knowledge is an important resource that can drive innovation in organizations. This study seeks to characterize the relationships that exist between the dimensions of knowledge management and the competencies to innovate. For this, an explanatory model is developed to evaluate the global effect that an adequate management of the acquisition, exchange, storage, application, and creation of knowledge on innovation. A data sample is constructed from a survey applied to 150 software development companies in the city of Medellín- Colombia and models were estimated through the methodology of structural equations. The findings allow us to affirm that knowledge management has a positive influence on innovations. In addition, knowledge management is more strongly explained by the creation, acquisition and application of knowledge. [ABSTRACT FROM AUTHOR]

The purpose of this article is to explore the central bank’s ability to management inflation forecast errors in Colombia. We present empirical evidence based on the Colombian experience with data from the period of 2008 to 2020. The communication channel selected for analysis is the press releases. The empirical evidence is divided into three steps: (i) regression analysis using an EGARCH model; (ii) use of VAR models; and (iii) variance decomposition analysis. The communications effects are significant for several months and that close to half of the forecast error variance can be explained by innovations in central bank communication. The results obtained allow monetary policymakers to develop more efficient strategies for anchoring expectations and strengthening the central bank credibility. [ABSTRACT FROM AUTHOR]