The Internet has changed the way companies and persons communicate. This paper considers the diffusion of Internet in Chile. Using traditional methods in marketing, particularly the Bass model, the potential number of Internet users and the characteristics of the diffusion process are estimated,...

Statistical procedures for missing data have improved significantly in the last years. This study put the missing data in context and makes a revision of the recent literature for the case that the missing data problem is ignorable. In an application, based in real data of a psychographic...

This study considers different methodologies for times series prediction of Sales. Given the specification of a bivariate autoregressive time series model for Sales and GDP, the paper derives classical models of prediction, such as a regression model, a regression model with error correction, a...

This study analyzes the needs and preferences of firms in the first-job market. To this end, an application to the case of commercial engineers in Chile is considered by means of a conjoint study. Partial utilities of the firms associated to different levels of attributes of the applicants are...

This article provides a stylized framework to assess alternative institutional designs for investment regulation, in the context of mandatory defined contribution pension fund systems with individual accounts and competition among managers. We illustrate short-term, long-term and competitive...

We present a synthesis of the major political and economic events that have influenced the development of laws and capital markets in Chile, and their impact on the evolution of Chilean conglomerates through time. We find that laws and regulations in Chile have been extremely «path dependent»,...

In this paper we provide an accurate descriptive analysis of consolidated ownership and capital structures in Chilean conglomerates, emphasizing the implications of these structures for corporate governance. We avoid double counting investments made through pyramid schemes, and consider the...

Corporate Governance relates to mechanisms through which providers of resources to the firm get their share of resources in return. Adequate governance practices help develop capital markets and assist market forces in attaining efficient contracts. Convincing evidence exists that well developed...

We study optimal portfolios for defined contribution (possibly mandatory) pension systems, which maximize expected pensions subject to a risk level. By explicitly considering the present value of future individual contributions and changing the risk-return numeraire to future pension units we...

The creation of fully funded, privately managed pension systems may have significant positive direct effects on savings, growth and welfare. However, the indirect link, via capital market development, may be as important. This hypothesis is verified with evidence from emerging economies that...