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An open economy inserted in an environment with increasing participation of global value chains, such as the Chilean economy, requires information about how its business integrates into international markets. The contribution of this study is that it evaluates the stages and patterns of Chilean firms' internationalization by using a value chain activities framework, identifying four categories. The intensity of upstream and downstream business activities allows classifying the mode in each of the four categories. Members of the Sociedad de Fomento Fabril (SOFOFA) answered the survey design for this study. Results illustrate companies' behavior concerning international trade and foresight of further critical issues. [ABSTRACT FROM AUTHOR]

We analysed the effects of accrual-based earnings management and countries' institutional-financial development on stock liquidity of Latin American firms, specifically in MILA countries. We used a panel data composed of 478 companies between 2000 and 2016. Our results indicate that positive discretional accruals have a positive and non-linear impact on stock liquidity. This effect turns negative when positive discretionay accruals are higher than threshold values. Regardless of the direction of accounting manipulation, earnings management reduces stock liquidity. The IFRS adoption mitigates the effects of earnings management on stock liquidity. These findings suggest that IFRS are an effective control measure that limits discretionary use of accounting criteria by managers. Institutional and financial development of countries promotes stock liquidity. Only institutional development can mitigate the effect of EM on liquidity. These results are relevant for investors and policymakers due to their implications on firms' corporate governance, investment decisions and financial policy design. [ABSTRACT FROM AUTHOR]

This study examined the determinants of economic development for the 34 member countries of the Organization for Economic Cooperation and Development (OECD) and analysed efficient uses of economic development resource endowments. The methodology included econometric panel data modelling and stochastic frontier analysis, using the Cobb-Douglas production function and trans-logarithmic functional form to analyse data from 2003 to 2012. Economic growth was measured by the gross domestic product (GDP) of each economy. As a result, the determinants of economic development were presented and a ranking of efficiency was obtained for all OECD economies throughout the period of analysis. It was concluded that countries with higher economic growth levels have higher efficiency rankings. For example, countries with higher efficiency rankings were Luxembourg and the U.S.; Chile and Mexico were ranked lower. Finally, there was a positive relationship between growth levels and technical efficiency levels. [ABSTRACT FROM AUTHOR]

Background: Absenteism can generate important economic costs., Aim: To analyze the determinants of the time off work for sick leaves granted to workers of a regional health service., Material and Methods: Information about 2033 individuals, working at a health service, that were granted at least one sick leave during 2012, was analyzed. Personal identification was censored. Special emphasis was given to the type of health insurance system of the workers (public or private)., Results: Workers ascribed to the Chilean public health insurance system (FONASA) had 11 days more off work than their counterparts ascribed to private health insurance systems. A higher amount of time off work was observed among older subjects and women., Conclusions: Age, gender and the type of health insurance system influence the number of day off work due to sick leaves.