Externado University of Colombia

Under the Colombian prior consultation experience, it is normal for agreements with ethnic communities to deal with labor relations and capital contributions to strengthen communities’ self-government and to carry out productive projects. On the other hand, it is less common for these protected groups to obtain benefits from services or products that involve the development of measures subject to consultation. Here, the importance of considering the adaptation of the current Colombian energy regulation is raised by applying energy justice theory to situations where communities coexist with the energy projects and are disaggregated from the energy supply. Noting that these types of actions will be essential to accomplish the purposes of the energy transition and support the transformation to carbon–neutral economies, we will be aiming to respond to highly complex scenarios, typical of regions that accumulate a prominent social debt, mainly related to poverty reduction.

A market model with liquidity risk associated with agent trading is considered. The dynamics of prices for risky assets are described in this context, and the corresponding nonlinear partial differential equation for derivatives pricing is derived. The use of physically informed neural networks is proposed for the resolution of this equation.

In this paper we implement a portfolio optimization model that integrates the robust portfolio optimization approach and the Bayesian approach with the purpose of modeling the uncertainty of the estimated parameters in the expected returns and in the covariance matrix. The proposed model is implemented using the Wishart and Gamma distribution functions to model the uncertainty with ellipsoidal or quadratic type sets. To do that, we choose a portfolio made up of the shares of the USA DJI index. The results confirm the advantages of the robust approach compared to the traditional mean-variance model, both in performance evaluation and in its diversification.

In this paper, we introduce a competitive algorithmic trading strategy for the Colombian US dollar inter-bank bulk order-driven market, SET-FX. The strategy is underpinned by an evolutionary predictive model constructed with the Tree-based Pipeline Optimization Tool (TPOT). TPOT is a strongly-typed genetic programming-based automated machine learning tool that employs the Non-dominated Sorting Genetic Algorithm II (NSGA-II), a multi-objective evolutionary algorithm. It aims to discover machine learning models that balance maximum accuracy with minimum complexity.

This paper enhances the performance of an algorithmic trading system or strategy, based on technical indicators, by integrating a classification model that discriminates between potential winning and losing trades of the strategy. The features used as input for the machine learning model are generated from technical indicators at the moment a trade is opened, and are obtained through a market simulation using Open, High, Low, Close data in the Eurodollar currency. For the search process of the appropriate classification model, two mechanisms are proposed. These are based on auto-machine learning and evolutionary algorithms, using the Tree-Based Pipeline Optimization Tool (TPOT) library, and an approach based on the Elitist Non-dominated Sorting Genetic Algorithm (NSGA-II) and TPOT. Here, the multi-objective search is guided by the accuracy metric and the System Quality Number (SQN), a metric used to evaluate trading systems. In the conducted experiments, the classification models chosen by NSGA-II significantly enhanced the performance of the trading strategy, with 32.5% of the out-of-sample models showing positive returns and exhibiting similar in-sample and out-of-sample behavior. In contrast, with TPOT, the classifiers found tended to perform well in-sample but not consistently out-of-sample. The final strategy chosen by NSGA-II had 60–61% profitable trades both in-sample and out-of-sample, while TPOT resulted in 98% and 62%, respectively.

This paper presents the Hierarchical Risk Parity (HRP) model and its implementation using assets of Latin American companies listed as ADRs on the NYSE. Two portfolios are optimized: HRP and Mean-Variance (MV). The in-sample results show better performance for the HRP portfolio; however, in the out-of-sample analysis, the MV portfolio outperforms with a higher Sharpe ratio and diversification ratio.

El objetivo de este texto es comprender los procesos de crecimiento informal en la zona metropolitana de Bogotá, en particular su relación con la movilidad residencial intrametropolitana en el periodo reciente. Con este fin se realizó una medición de la informalidad urbana en diecisiete municipios de la zona metropolitana de Bogotá a partir del cruce de múltiples fuentes de información y se analizaron las dinámicas de movilidad residencial a partir de los datos censales. Se identificó un conjunto de dinámicas complejas que superan la idea de la mera suburbanización desde el centro. Movimientos centrípetos desde el departamento de Cundinamarca, del cual Bogotá es capital, y desde el resto del país; movimientos centrífugos desde Bogotá y movilidades residenciales al interior de la zona metropolitana, configuran una compleja red de interdependencias en el territorio de análisis. A nivel metropolitano se replican los mismos patrones de segregación que al interior de Bogotá, solo que en peores condiciones de localización.

IP licensing is traditionally used for various purposes, such as to raise capital, expand market reach, or enable an alternative manufacturing source. The terms of an IP license agreement can vary widely but typically include the scope of the license, the territory in which the license is valid, the duration of the license, the royalty rate, the payment terms, and dispute resolution procedures, among others. IP licensing can be a complex process, but it can be a valuable way to monetize IP rights and bring inventions to market. As a result, the importance of licensing as an effective tool to settle IP infringement has been growing in recent years. One of the most recent settlement cases involving a considerable dispute between two major players in the smartphone market had a Colombian court at its focal point. This fact might appear strange since most of the leading cases are brought before US or European tribunals. As far as Colombia is concerned, the case had its beginning with grant of patent NC2019/0003681 to Ericsson on 10 September 2019. The Colombian IP office granted a patent for an essential technology to implement the so-called ‘5G technology’ in electronic devices that could be considered a standard essential patent (SEP).

Strategic management accounting is the last stage of evolution in management accounting, seeking to contribute strategic information to support strategic decision-making and strategic management; this information is obtained from the application of several strategic management accounting techniques for collecting superior information. This paper aims to determine the role of strategic management accounting in the financial performance of low-cost airlines, seeking to encourage its adoption, implementation, and use for these types of companies. It relies on a literature review regarding strategic management accounting and the airline industry, especially with documents obtained from Scopus and Web of Science. Besides, a questionnaire was applied to experts in this industry, along with the application of a spline regression model for data analysis. The study revealed that the contribution of strategic management accounting in the financial performance of the analyzed low-cost airlines is influenced by decision-making and decision-implementation processes, management accountants who provide external, non-financial, and forward-looking information are the main actors in the adoption, implementation, and the use of strategic management accounting in the analyzed low-cost airlines.

Este artículo analiza, con una perspectiva crítica, las tres sentencias emitidas por la Corte Constitucional colombiana y los proyectos de ley de regulación de la gestación subrogada presentados desde 2016. Para ello, se describen los aspectos generales, con énfasis en el uso del lenguaje en las distintas fuentes, para mostrar algunas de las consecuencias prácticas. En particular, se pretende destacar la reelaboración del discurso en el derecho, que ha servido para legitimar lo que puede ser definido como una forma de explotación reproductiva.

A wealth of scholarly work has contributed to make visible and describe the place of indigenous peoples and knowledge in sustainability transitions. We follow suit, exploring if, and how, indigenous peoples and knowledges take part in the construction of hybrid socio-technical systems, i.e. socio-technical systems where heterogeneous knowledges already coexist and give rise to the emergence of specific and nuanced socio-technical patterns. We address the question: What are the types of interaction between techno-scientific and indigenous/local knowledges in socio-technical configurations aiming at sustainability? Our inquiry focuses on knowledge circulation patterns in hybrid socio-technical systems. Conceptually, we build on epistemic diversity and hybridisation as means to reflect on socio-technical systems. Empirically, we carry on a theory-driven literature review and ground a model on the backdrop of the MLP perspective. Results show that hybrid socio-technical systems present overlapping socio-technical assemblages coexisting in constructive tension. Such tension stems from the manyfold possible directionalities that take place in the social production of hybrid-oriented and non-hybrid-oriented performativity of knowledges. This paradoxical nature implies that each encounter performs a potential tension within the broader web of relations in the system. In terms of sustainability transitions, hybrid socio-technical systems pose particular knowledge governance challenges. Its paradoxical nature risks enabling contradictory, non-viable or illegitimate transition pathways towards sustainability.

El propósito de este trabajo fue poner en evidencia los principales puntos de conexión entre el populismo y las relaciones internacionales, tomando como caso de estudio la política exterior turca durante el gobierno de Tayyip Erdoğan (2003-2020). De esa manera, se vinculó la teoría que da cuenta del populismo como un elemento emancipador y la política exterior como una política pública que da respuesta a las demandas intermésticas. Posteriormente se examinaron, bajo la lupa teórica, algunos fragmentos discursivos del mandatario, en el entendido de que las palabras se transforman en acciones políticas, intentado entrelazar el populismo como marco constitutivo de sus alocuciones, la política exterior como su campo de acción y las relaciones internacionales como su contexto de producción, para comprender qué clase de política exterior llevó a cabo el gobierno de Erdoğan durante ese periodo.

La causalidad es una de las categorías dogmáticas del juicio de responsabilidad patrimonial que más ha sido estudiada por la jurisprudencia y la doctrina, en la medida que su conceptualización trae consigo problemáticas de orden epistemológico, razón por la que existe bastante literatura que, en el campo del mundo empírico, pretende solucionar sus dificultades. Así, el intento de justificar la existencia de un requisito fáctico a través del cual se determine en qué casos es procedente o no una pretensión indemnizatoria, es un asunto que está siendo reevaluado por sus obstáculos prácticos. En ese orden, en respuesta a las críticas señaladas, la imputación es una figura que tiene por objeto soslayar los problemas argumentativos de la causalidad fáctica, por medio de la argumentación que brindan los deberes jurídicos como requisito para endilgar un daño a su agente. Con todo, tanto la causalidad como la imputación no son teorías pacíficas, de hecho, en la práctica aún hay posiciones disímiles, por lo que sus aplicaciones cambian de un ordenamiento a otro. Así, el objeto del presente trabajo es describir el estado actual de la discusión sobre la imputación dentro de los juicios de responsabilidad.

Colombia oficializó la intención de diseñar e implementar una política exterior feminista (pef) el 5 de octubre de 2022. Dada la novedad del tema, en el país persisten las dudas, miedos y estigmas derivados de un profundo desconocimiento de lo que implica. En este artículo se aborda la siguiente pregunta: ¿cuáles son los antecedentes e implicaciones del anuncio de una pef en Colombia? Se reconstruyen los orígenes de la pef en gobiernos anteriores y se analizan la visión que se tiene de la implementación de una pef, los beneficios y desventajas, a quiénes incluye y excluye, y los principales desafíos. El artículo ofrece una interpretación preliminar del caso colombiano con base en el concepto de doble nivel (two-level game), el cual evidencia que cualquier alteración interna termina impactando la política internacional, y viceversa. De igual forma, se parte del feminismo en las relaciones internacionales para el análisis. Para explicar la pef colombiana, el artículo hace un rastreo (con base en fuentessecundarias y discursos) que identifica los orígenes de la pef y detalla los retos de su implementación en el gobierno de Gustavo Petro. Así, se contribuye a las discusiones sobre la implementación de estrategias de política exterior en países por fuera del “norte global”.

The improvement of the conversion efficiency of the photovoltaic panels, the efficiency of the inverters for connection to the electrical grid, and the dynamism of the distribution systems have had a direct impact on how energy is being generated in the residential, industrial, commercial, and transport sectors. This article shows an experimental study related to the analysis of a Building Integrated Photovoltaic (BIPV) system and its performance. A monitoring process was applied during three years to evaluate the energy production, CO2 emissions and economical savings. The paper presents the energy performance results of a 9.5 kW BIPV system installed in the El Paso residential area, located in Colombia (in the city of Girardot, at 74.7799 longitude and 4.3828 latitude). The main results during the first 3 years of monitoring (March 2019-March 2022) show that the average energy generation of the system has been 9,910.5 kWh/year; the environmental impact has been 3,645.38 kgCO2-equ. for the first three years of operation and the economic savings by generating clean energy have been 4,776.24 USD.

The measures taken to contain the spread of the Covid-19 virus affected the world economy and in particular the tourism sector. The stoppage of activities resulted in a drastic drop in its operations, also impacting on the perception that tourism actors have in the process of economic recovery. The research sought to identify the perception of the actors in the tourism sector chain about the impacts generated by Covid-19 in the Jericó and Jardín municipalities, located southwest of Medellín-Colombia, with a qualitative and interpretive approach which tends to understand , interpretation and perception of the realities of tourism service providers. The design was crosssectional, not experimental, and the phenomenological method was used. Direct effects were evident mainly in the sustainability and permanence of the companies in the sector, financial and income weakness, which generated unemployment in the region. Finally, the tourism companies located in these two municipalities do not have action and response plans to these external threats, which leads to decisions such as reducing staff, closing and liquidating the companies in the short term and the feeling of not having the support of public institutions.