Juan Benjamín Duarte Duarte

Juan Benjamín Duarte Duarte
Industrial University of Santander | UIS · Industrial and Employer Studies

PhD

About

57
Publications
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99
Citations
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June 2001 - present
Industrial University of Santander
Position
  • Professor (Full)

Publications

Publications (57)
Article
Full-text available
The tourism sector has an essential role in the sustainable development of a country. Therefore, in this research we propose a methodology to identify tourist routes that integrate the most important Points Of Interest in a region taking up as criteria profile characteristics in common between the sites evaluated using clustering techniques. To att...
Article
Full-text available
El presente trabajo determina el efecto de aplicar una estrategia de evaluación continua en la asignatura Finanzas y Presupuestos en la Universidad Industrial de Santander. Para ello se diseña un estudio longitudinal con el que se determina si la estrategia contribuye al proceso de formación del estudiante. El estudio estadístico parte de la aplica...
Article
Full-text available
El quehacer universitario debe fortalecer las competencias profesionales mediante eficientes estrategias educativas. Por ello, el objetivo del presente trabajo es identificar dichas estrategias con un estudio transversal mediante la aplicación de una encuesta a estudiantes con una pregunta abierta relacionada a la educación por competencias; que es...
Conference Paper
El Mercado Integrado Latinoamericano – MILA – fue creado con el fin de fomentar el desarrollo de los mercados de renta variable de los países miembros, a través de un único mediador para la realización de transacciones entre los diferentes mercados de valores, eliminando barreras transaccionales, que promuevan un mayor flujo de capitales entre las...
Preprint
Full-text available
En el presente documento se presenta de manera compacta los diferentes temas abordados en la asignatura Finanzas y Presupuestos, así mismo, cada tema es acompañado con un ejercicios prácticos y finaliza con un cuestionario.
Article
Full-text available
En este artículo se presenta un procedimiento que permite apoyar el proceso de decisión de los inversionistas al seleccionar un portafolio que cumpla con sus expectativas económicas y con aquellas relacionadas con Responsabilidad Social Empresarial (RSE). Para ello, se consideran criterios de rentabilidad y riesgo como medidas económicas, que abord...
Poster
Full-text available
Con el objetivo formar profesionales íntegros en Colombia, es necesario fortalecer la formación por competencias ya que estas integran conocimientos, habilidades, actitudes y valores que permite a una persona desenvolverse de manera eficaz en diversos contextos y desempeñar adecuadamente una función, actividad o tarea. Por tanto, el presente trabaj...
Conference Paper
Full-text available
El sector turismo ocupa un lugar importante en el desarrollo sostenible de un país, por tal motivo el objetivo de la presente investigación es identificar diferentes perfiles de potencial turístico en los principales municipios de Santander. Con este fin, se llevó a cabo una aplicación de aprendizaje automático a partir de la selección y construcci...
Conference Paper
Full-text available
The objective of this article is to evaluate the rationality in the stock markets based on behavioral biases, using the main indexes of the stock exchanges of Brasil (IBOVESPA), México (IPC), Chile (IPSA) y Colombia (COLCAP), during the period between January 3, 2000 to August 17, 2016, divided into three sub periods: pre crisis (2000 - 2008), cris...
Conference Paper
Full-text available
The productive world demands that the university work responds to the society requirements. Therefore, it is fundamental to strengthen the competencies through of effective educational strategies. Then, the objective of the present work is identified academic strategies in order to improve academic development to Industrial Engineering students rol...
Conference Paper
Full-text available
The tourism sector has an important place in the sustainable development of a country; therefore, the objective of this research is to characterize the factors and the methodologies most used in the evaluation of such sites by researchers worldwide. To reach this aim, a literature review focused on the methodologies used for the selection and evalu...
Preprint
Full-text available
The tourism sector has an important place in the sustainable development of a country; therefore, the objective of this research is to characterize the factors and the methodologies most used in the evaluation of such sites by researchers worldwide. To reach this aim, a literature review focused on the methodologies used for the selection and evalu...
Article
Full-text available
The main objective of this article is to develop a Cellular Automaton Model in which more than one type of stockbroker interact, and where the use and exchange of information between investors describe the complexity measured through the estimation of the Hurst exponent. This exponent represents an efficient or random market when it has a value equ...
Conference Paper
Full-text available
El objetivo del presente artículo es evaluar la racionalidad en los mercados bursátiles a partir de sesgos del comportamiento, utilizando los principales índices de las bolsas de valores de Colombia (Colcap), Estados Unidos (S&P 500) y España (Ibex 35), durante el periodo comprendido entre enero de 2000 y agosto de 2016, dividido en tres sub period...
Article
Full-text available
El objetivo principal de este artículo es desarrollar un modelo autómata celular en el que interactúen más de un tipo de agentes bursátiles, donde el uso y el intercambio de información entre los inversores describen la complejidad medida a través de la estimación del coeficiente de Hurst, que representa un mercado eficiente o aleatorio al tener un...
Article
Full-text available
El objetivo principal del presente trabajo es evaluar las metodologías para la construcción de mercados bursátiles artificiales, determinando, primero, un modelo generador de precios para el mercado colombiano; segundo, simulando el modelo autómata conductual propuesto por Fan en 2009; y, tercero, aplicando un modelo racional propuesto mediante la...
Article
Full-text available
La presente investigación busca evaluar el nivel de complejidad del mercado latinoamericano, mediante la construcción de un modelo autómata celular. Para ello se estudian seis índices bursátiles: COLCAP, IPSA, MERVAL, MEXBOL, SPBLPGPT e IBOV, en el periodo 2004-2016. Estas series son analizadas a partir de su comportamiento estadístico, el ajuste d...
Conference Paper
Full-text available
In recent years, scholars, politicians, and analysts have wondered whether it makes sense for some countries to renounce their currencies in order to adopt the currency of another country or to create a regional currency (Edwards, 2006). According to Bichara (2001), in order to initiate an advanced macroeconomic policy coordination or a single mone...
Conference Paper
Full-text available
This paper identifies and analyzes behavioral biases which affect the decisions making process of Industrial engineering students at Universidad Técnica Federico Santa María UTFSM, Chile, taking as methodology a survey which was organize with information used in other studies in different countries. After the application of the tool we identified t...
Article
Full-text available
This research investigates whether the major stock markets in Latin America (Brazil, Mexico, Chile, Colombia, Peru and Argentina) exhibited herd behavior over the period January 2, 2002 to June 30, 2014, using the variation in the returns overall and by sector in the most representative stock market index in each country, using the model proposed b...
Article
Full-text available
This research investigates whether the major stock markets in Latin America (Brazil, Mexico, Chile, Colombia, Peru and Argentina) exhibited herd behavior over the period January 2, 2002 to June 30, 2014, using the variation in the returns overall and by sector in the most representative stock market index in each country, using the model proposed b...
Preprint
Full-text available
The primary objective of this paper is to show the methodology assessment to construct artificial stock markets, determining: first, a Colombian price generator model; second, modifying the cellular automaton model developed by Fan in 2009; third, building a rational automaton model, adapting the Alexander Filters methodology. The models are compar...
Article
Full-text available
In recent years the behavior of the agents and what motivates them to make their investment decisions; ithas been the focus of study by many researchers in the fields of economics, finance and related fields. Withthis in mind, this article seeks to test empirically one of these behaviors, the herd effect, using the modelsproposed by Christie y Huan...
Article
Full-text available
In recent years the behavior of the agents and what motivates them to make their investment decisions; it has been the focus of study by many researchers in the fields of economics, finance and related fields. With this in mind, this article seeks to test empirically one of these behaviors, the herd effect, using the models proposed by Christie y H...
Article
Full-text available
The supply of proppants to unconventional reservoirs is one of the biggest challenges that oil companies are facing in order to complete wells on time while minimizing costs. With this in mind, this article seeks to propose alternatives for supplying proppants to wells and to develop an evaluation using Monte Carlo simulation, which is one of the b...
Article
Full-text available
This paper presents a procedure to support the decision making process of the investors to select a portfolio that meets their expectations, when they are related with both economic and corporate social responsibility (CSR) criteria. Rentability and risk criteria were considered as economic measures; which addressed from the method of constraints r...
Article
Full-text available
This article seeks to contrast the weak form efficiency of the Brazilian, US, and Mexican stock indexes, based on the assumption that an efficient market is not predictable. With this goal in mind, we assessed predictability using runs tests and automatic variance ratio, in the 1995-2014 period. The results shed light on the fact that, in recent ye...
Article
Full-text available
En este artículo se presenta un procedimiento que permite apoyar el proceso de decisión de los inversionistas al seleccionar un portafolio que cumpla con sus expectativas económicas y con aquellas relacionadas con Responsabilidad Social Empresarial (RSE). Para ello, se consideran criterios de rentabilidad y riesgo como medidas económicas que, abor-...
Article
Full-text available
Efficient markets are those in which it is not possible to predict the returns on assets. However, the adaptive markets hypothesis (AMH) states that efficiency is not a static feature of markets, but varies in time according to market conditions and the behavior of its agents. This paper seeks to test the predictability of the Colombian market, usi...
Article
En el presente trabajo de investigación se examina la causalidad existente entre los principales índices bursátiles de América Latina (Argentina, Brasil, Chile, Colombia, México y Perú) y el Standard & Poor”™s 500 de Estados Unidos (S&P500), mediante la Prueba de Causalidad de Granger, para el período de julio 2001-no- viembre 2010, teniendo la par...
Article
Full-text available
Between October, 2004 and August, 2005, a price war between the country’s major cement companies and Cementos Andino (a company that sought to protect its 9% share of the market with pricing strategies, its marketing activity and its geographical position) took place in Colombia. It is not yet clear who initiated this situation that resulted in the...
Conference Paper
Full-text available
RESUMEN Cuando los mercados se comportan eficientemente, los precios de sus activos siguen una caminata aleatoria y dependen solamente de la información disponible, por tanto no es posible predecir sus precios. Este trabajo tiene como propósito evaluar la predictibilidad del mercado colombiano, para verificar su eficiencia; para este propósito se u...
Article
Full-text available
This paper aims to test weak-form efficiency in the top five Latin American stock markets, using two approaches. Firstly, by evaluating the normality of the series using basic statistics, then by using the Jarque-Bera test and Chi-Square goodness of fit test, contrasting the RW1 (Runs test and BDS test), RW2 (Alexander filters with genetic algorith...
Conference Paper
Full-text available
El presente trabajo analiza la existencia de burbujas financieras en el mercado bursátil de Colombia, específicamente en el Índice General de la Bolsa de Valores de Colombia (IGBC). Usando como metodología la verificación de estacionariedad y cointegración siguiendo a Blanchard (1979), durante un periodo de 14 años (enero de 2000 a marzo de 2014)....
Article
Full-text available
This paper aims to test weak-form efficiency in the top five Latin American stock markets, using two approaches. Firstly, by evaluating the normality of the series using basic statistics, then by using the Jarque-Bera test and Chi-Square goodness of fit test, contrasting the RW1 (Runs test and BDS test), RW2 (Alexander filters with genetic algorith...
Article
Full-text available
Uno de los supuestos básicos de los modelos de valoración de activos (CAPM y APT), es la eficiencia de los mercados. El presente trabajo busca comprobar este requisito en su forma débil, tanto al Índice General de la Bolsa de Valores de Colombia como a las acciones más representativas del mercado colombiano. Para tal fin se comprueba por diferentes...
Conference Paper
Full-text available
The main purpose of this research is to present the state of art about the application of Artificial Neural Networks for time series forecasting stock indexes and associated shares of major Latin American countries: Brazil, Mexico, Colombia, Argentina, Chile and Peru. A review of published papers in each country are made in order to extract the mai...
Article
Full-text available
En el presente trabajo se estudia la contrastación de la eficiencia demercados bursátiles en los últimos quince años, para ello se acude a la revisión de artículos de la base de datos ScienceDirect caracterizando los resultados de forma porcentual. Se encuentra que el 60 % de los trabajos rechaza la eficiencia del mercado, el 35 % presenta evidenci...
Article
Full-text available
This research examines causality among the major Latin American stockmarkets (Argentina, Brazil, Chile, Colombia, Mexico and Peru) and Standard & Poor's 500 [S&P500] Index of the United States, forthe July 2001-November 2010 period, using the Granger Causality Test to analyze causality during upward and downward subperiods of the North American ind...
Article
Full-text available
The efficient market hypothesis states that financial asset returns follow a random walk and depend on the information made available to the market instantly, therefore they can not be predicted. On the other hand, the Fractal market hypothesis says that prices depend of each behavior investor and his investment horizon, producing chaotic behavior...
Article
Full-text available
The efficient stock market hypothesis is one of the basic assumptions of asset pricing models such as the Capital Asset Pricing Model and Arbitrage Pricing Theory and states that financial asset prices can not be predicted since they behave randomly. Conversely, the fractal market hypothesis states that prices have chaotic structure and could be pr...
Article
Full-text available
This paper assesses the existence of the size effect on the most important stock markets in Latin America (Argentina, Brazil, Chile, Colombia, Mexico and Peru) for the period between 2002 and 2012, using the cross-section contrast methodology of the size effect in the CAPM context. Results show that there is reversed effect in some of the Latin Ame...
Article
This paper assesses the existence of the size effect on the most important stock markets in Latin America (Argentina, Brazil, Chile, Colombia, Mexico and Peru) for the period between 2002 and 2012, using the cross-section contrast methodology of the size effect in the CAPM context. Results show that there is reversed effect in some of the Latin Ame...
Conference Paper
Full-text available
In this paper we evaluate the Mexico stock market efficiency from empirical testing of anomalies, both the Price and Quotes Index (IPC) and their three main actions (AMXL, WALMEXV and FEMSAUBD). The methodology focuses on estimating binary multivariate regression models for the period between January 2002 and April 2013. This work differs from prev...
Article
Full-text available
In this paper we analyze the historical returns of the companies listed on the Colombian stock exchange, from January 2004 until June 2012, in order to determine the possible presence of a risk premium in smaller companies relative to larger ones. This premium is known as Size Effect and it has been found that it is significant after adjusting of r...
Article
Full-text available
One of the assumptions of the models of asset pricing is the assumption of efficient stock markets, in this paper we study the evolution of research carried out in the last fifteen years on the efficiency of the main world stock markets, going for it to databases like ScienceDirect, finding that it exist diversity in the efficiency of markets depen...
Conference Paper
Full-text available
The market efficiency hypothesis introduced by Fama (1965) raises the inability to obtain profits in a market systematically since the behavior of financial assets follows a random walk model. This paper investigates the Random Walk type RW3 for the stock market in Colombia, including the latter by the General Index of the Stock Exchange of Colombi...
Conference Paper
Full-text available
In this document are proposed a procedure to estimate the systematic risk coefficient (beta) for sectors, industries and companies listed or not in financial markets in emerging countries. The exposed methodology is a combination of the Capital Asset Pricing Model (CAPM) and the relative valuation. The main contribution of this paper, suggests the...
Conference Paper
Full-text available
In this paper it fits ARIMA and GARCH models, for the major financial series Colombian stock market,until those which do not exhibit significant autocorrelation in the residuals. This, in order to allow the use of verification tools chaotic behavior in stock markets, which implies non-linearity in prices and dependence in the short term compared to...
Article
Full-text available
This paper establishes a methodology for estimating the cost when a break down occurs in the industrial sector_ The model was developed taking into account the international background of the topic and the currently legal system concerning the quality of electrical service in Colombia, The methodology is composed of seventeen costs items from which...
Article
Full-text available
This paper presents a methodological proposal to solve the location of industrial and enterprise installation problem. This malter arises when a company is about to expand its commercial operations or when a new enterprise is to be created. The model contains two phases: the first one is based on the heurístic method of location factors ponderation...
Article
Full-text available
The present paper describes the steps earried out fo make an eleetronie seale prototype withserial eommunieation port, whieh will serve as a referenee to develop improved seales to supportpractices in the laboratory 01 Quality Control and Experiment design 01 the Department 01Industrial and Business studies.

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Projects (6)
Project
1. Diagnosticar mediante un análisis multivariado, el estado de satisfacción de los usuarios de la materia de finanzas y presupuestos, con respecto a las ayudas pedagógicas de esta asignatura. 2. Diseñar y Desarrollar el material teórico-práctico para el contenido oficial de la asignatura Finanzas y Presupuestos, haciendo uso de las TIC´s 3. Validar el material teórico-práctico de la asignatura mediante una prueba piloto con docentes en el área y estudiantes. 4. Socializar resultados del proyecto con el fin de darlos a conocer a la comunidad académica.