ABSTRACT The objective of this research was to analyze the effects of digital transformation in the accounting and financial sector in Ecuador. To achieve this objective, three specific objectives were established, which were: to identify the changes that digital transformation has generated in accounting and financial processes in Ecuadorian companies from various industrial sectors, to analyze the perceptions of accountants and financiers about the adoption of digital technologies in their daily tasks and how it affects their work performance, and evaluate the effectiveness of the technological solutions implemented in the accounting and financial sector in Ecuador, in terms of efficiency, cost reduction and improvement in decision making. To carry out this research, a non-experimental cross-sectional research design was used and a questionnaire was applied to 150 accountants and financiers from different companies in Ecuador. The results of the research indicate that digital transformation has had a positive impact on the accounting and financial sector in Ecuador, since it has allowed greater efficiency in processes, cost reduction, and improved decision-making. Likewise, accountants and financiers perceive that the adoption of digital technologies in their daily tasks has improved their work performance and has allowed them to focus on more strategic tasks. Regarding the technological solutions implemented in the accounting and financial sector, it was found that the most used are accounting and finance software, business resource management systems and document management systems. These solutions have proven to be effective in improving processes and reducing costs.

RESUMEN La presente investigación tuvo como objetivo analizar los efectos de la transformación digital en el sector contable y financiero en Ecuador. Para lograr este objetivo se establecieron tres objetivos específicos, que fueron: identificar los cambios que la transformación digital ha generado en los procesos contables y financieros en empresas ecuatorianas de diversos sectores industriales, analizar las percepciones de los contadores y financieros sobre la adopción de tecnologías digitales en sus tareas cotidianas y cómo afecta a su desempeño laboral, y evaluar la efectividad de las soluciones tecnológicas implementadas en el sector contable y financiero en Ecuador, en términos de eficiencia, reducción de costos y mejora en la toma de decisiones. Para llevar a cabo esta investigación se utilizó un diseño de investigación no experimental de tipo transversal y se aplicó un cuestionario a 150 contadores y financieros de diferentes empresas de Ecuador. Los resultados de la investigación indican que la transformación digital ha tenido un impacto positivo en el sector contable y financiero en Ecuador, ya que ha permitido una mayor eficiencia en los procesos, reducción de costos y mejora en la toma de decisiones. Asimismo, los contadores y financieros perciben que la adopción de tecnologías digitales en sus tareas cotidianas ha mejorado su desempeño laboral y les ha permitido enfocarse en tareas más estratégicas. En cuanto a las soluciones tecnológicas implementadas en el sector contable y financiero, se encontró que las más utilizadas son el software de contabilidad y finanzas, los sistemas de gestión de recursos empresariales y los sistemas de gestión documental. Estas soluciones han demostrado ser efectivas en la mejora de los procesos y en la reducción de costos.

Resumen El propósito de toda organización es destacarse en la sociedad y aspirar por ende a la longevidad. El estudio tiene como objetivo describir la composición socioeconómica de las empresas activas consideradas como longevas con una edad igual o mayor a 25 años dentro de la Zona 4 de acuerdo el ordenamiento territorial del Ecuador para el año 2022. El análisis se desarrolló a través de un tipo de estudio descriptivo y transversal con un enfoque inductivo de base cuantitativa, realizado por medio de la indagación documental en bases de datos oficiales. De un total de 199 empresas analizadas, la investigación mostró que ninguna de ellas supera el siglo de edad y que la mayor parte de ellas son microempresas, lo cual evidencia en cierto estancamiento en el crecimiento de sus ingresos totales.

Abstract The purpose of every organization is to stand out in society and therefore aspire to longevity. The objective of the study is to describe the socioeconomic composition of active companies considered as long-lived with an age equal to or greater than 25 years within Zone 4 according to the territorial system of Ecuador in 2022. The analysis is developed through a descriptive and transversal study with an inductive quantitative basis approach carried out through the documentary inquiry in official databases. From a total of 199 companies analyzed, the investigation shows that none of them exceeds one hundred years and that most of them are microenterprises, which evidences some stagnation in the growth of their total income.

Abstract Objective: To estimate the direct costs of treating excess body weight in children and adolescents attending a public children’s hospital. Methods: This study analyzed the costs of the disease within the Brazilian Unified Health System (SUS) for 2,221 patients with excess body weight using a microcosting approach. The costs included operational expenses, consultations, and laboratory and imaging tests obtained from medical records for the period from 2009 to 2019. Healthcare expenses were obtained from the Table of Procedures, Medications, Orthoses/Prostheses, and Special Materials of SUS and from the hospital’s finance department. Results: Medical consultations accounted for 50.6% (R$703,503.00) of the total cost (R $1,388,449.40) of treatment over the period investigated. The cost of treating excess body weight was 11.8 times higher for children aged 5–18 years compared to children aged 2–5 years over the same period. Additionally, the cost of treating obesity was approximately 4.0 and 6.3 times higher than the cost of treating overweight children aged 2–5 and 5–18 years, respectively. Conclusion: The average annual cost of treating excess body weight was R$138,845.00. Weight status and age influenced the cost of treating this disease, with higher costs being observed for individuals with obesity and children over 5 years of age. Additionally, the important deficit in reimbursement by SUS and the small number of other health professionals highlight the need for restructuring this treatment model to ensure its effectiveness, including a substantial increase in government investment. Objective childrens s hospital Methods (SUS 2221 2 221 2,22 approach 200 2019 Procedures Medications OrthosesProstheses Orthoses Prostheses Orthoses/Prostheses hospitals department Results 506 50 6 50.6 R$703,503.00 R70350300 R 703 503 00 (R$703,503.00 $1,388,449.40 138844940 1 388 449 40 investigated 118 11 8 11. 518 18 5–1 25 2– Additionally 4 0 4. 63 3 6. respectively Conclusion R13884500 138 845 R$138,845.00 effectiveness investment 222 22 2,2 20 201 50. R$703,503.0 R7035030 70 (R$703,503.0 $1,388,449.4 13884494 38 44 51 5– R1388450 13 84 R$138,845.0 2, R$703,503. R703503 7 (R$703,503. $1,388,449. 1388449 R138845 R$138,845. R$703,503 R70350 (R$703,503 $1,388,449 138844 R13884 R$138,845 R$703,50 R7035 (R$703,50 $1,388,44 13884 R1388 R$138,84 R$703,5 R703 (R$703,5 $1,388,4 1388 R138 R$138,8 R$703, R70 (R$703, $1,388, R13 R$138, R$703 R7 (R$703 $1,388 R1 R$138 R$70 (R$70 $1,38 R$13 R$7 (R$7 $1,3 R$1 R$ (R$ $1, $1 $

ABSTRACT Drought is a significant abiotic constraint in Salvia miltiorrhiza production, particularly during seedling cultivation. Therefore, researching drought resistance is crucial. This study aimed to investigate the effects of drought stress on the agronomic and physiological characteristics of S. miltiorrhiza at the seedling stage, evaluate drought resistance of various germplasms, and identify drought resistance markers. To simulate drought stress, five different concentrations of polyethylene glycol (PEG) (0%, 5%, 10%, 15%, and 20%) were applied to four S. miltiorrhiza germplasms at the seedling stage. Agronomic traits, root morphology, and physiological and biochemical indicators were measured. The data were then analyzed using the membership function method, correlation analysis, and stepwise regression analysis. The results revealed that as the PEG concentration increased, the aboveground agronomic traits and underground root morphology of the four S. miltiorrhiza germplasms showed a decline. The activities of catalase and peroxidase initially increased and then decreased, while the contents of soluble sugar (SS), soluble protein, and proline increased compared to the control. Based on the membership function values of 16 morphological and physiological indicators, the drought resistance order of the four S. miltiorrhiza germplasms was as follows: Yudanshen VD > Yudanshen VA > Yudanshen VB > Yudanshen VC. Additionally, an optimal regression equation (D = 0.887X1 - 0.003X2 + 0.142X3) was developed through stepwise regression analysis, indicating that X1, X2, and X3 represent the maximum root length, root surface area, and SS content, respectively. Consequently, this study presents a comprehensive and reliable method for evaluating drought resistance in S. miltiorrhiza germplasm resources.

ABSTRACT The aim of this article is to address how household debt and contemporary credit markets seem to be the defining elements in the reshaping of social policy both in developing and developed countries. We start off by recalling how the implementation of income policies as the core of a new social protection paradigm has contributed to promote market-based finance. We take Brazil as a case study to illustrate how this new connection between state guaranteed income policies and credit markets has unfolded resulting in increasing household debt. We show evidence that the connection between household debt and state-provided monetary benefits is effective and significant. countries marketbased market based finance stateprovided provided significant

RESUMO O objetivo deste artigo é abordar como o endividamento das famílias e mercado de crédito contemporâneos surgem como os elementos definidores na reconfiguração da política social tanto nos países em desenvolvimento quanto nas economias avançadas. Começamos lembrando que a implementação de políticas de renda como núcleo de um novo paradigma de proteção social tem contribuído para promover expansão dos mercados financeiros. Tomamos o Brasil como um estudo de caso para ilustrar como essa nova conexão entre as políticas de transferência de renda (contributivas ou não contributivas) e os mercados de crédito se desdobrou resultando no aumento do endividamento das famílias. Mostramos evidências de que a conexão entre dívida e benefícios monetários assegurados pelo Estado é efetiva e significativa. avançadas financeiros contributivas significativa

Abstract Sustainable Corporate Finance is an important mechanism to address the climate crisis and its adverse effects on society and the environment. Environmental, Social and Governance (ESG) criteria have been proposed and implemented as a normative evaluation framework for companies in multiple sectors. However, ESG studies are not yet fully conclusive, but they serve to incorporate more than economic criteria to investment decisions in companies, and in this way, to focus on responsible investments. Among a variety of criteria, corporate responsibility and diversity in top management positions have gained significance today. Given this context, the aim of this study is to analyze the effect of including women in top leadership positions within high-cap companies and their impact on ESG indicators, with a particular focus on organizations in the industrial sector. A longitudinal study was conducted using balanced panel data of the companies that make up the Standard and Poor's 500, linear regression with random effects was estimated, as well as impact analysis using the Synthetic Difference in Difference (SDID). The results show a slight increase in the participation of women in top management (CEO), particularly in the last years (2020-2022). In addition, there is a statistically positive incidence between the participation of a female CEO in a better performance of the ESG indicators of the companies, with an impact of 0.2401 points, being the environmental criterion the most impacted with 0.6522 points.

Resumen Las finanzas corporativas sustentables son un mecanismo importante para hacer frente a la crisis climática y sus efectos adversos a la sociedad y el medio ambiente. Particularmente, se han propuesto e implementado los indicadores Ambiental, Social y Gobierno (ESG, por sus siglas en inglés) como un marco normativo de evaluación para las empresas de múltiples sectores. Los estudios realizados en materia de ESG aun no son concluyentes del todo, pero sirven para incorporar más que criterios económicos a las decisiones de inversión en las empresas y, de esta forma, orientarse en las inversiones responsables. Entre una variedad de criterios, la responsabilidad corporativa y la diversidad en posiciones de alta dirección ha cobrado relevancia en la actualidad. Dado lo anterior, el objetivo de este trabajo es analizar el efecto de la inclusión de mujeres en posiciones de liderazgo de alta dirección en las empresas de alta capitalización y su impacto en los indicadores ESG, realizando un especial énfasis en las organizaciones del sector industrial. Se realizó un estudio longitudinal a través de datos panel balanceados de las empresas que componen el índice Standard & Poor's 500, se estimó la regresión lineal con efectos aleatorios, así como del análisis de impacto mediante la Estimación Sintética de las Diferencias (SDID). Los resultados muestran un leve incremento en la participación de las mujeres en los altos mandos (CEO), particularmente en los últimos años (2020-2022). Además, existe una incidencia estadísticamente positiva entre la participación de una mujer CEO en un mejor desempeño de los indicadores ESG de las empresas, con un impacto de 0.2401 puntos, siendo el indicador ambiental el mayor impactado, con 0.6522 puntos.

Abstract The objective of this research is to determine a model to help municipalities estimate their performance in fiscal evaluations and implement actions to improve the results in their local management. The EVIEWS software was used to calculate the estimated model through multiple linear regression. The results indicate the fiscal capacity, tax autonomy, and property tax are the ones that best explain the fiscal performance of municipalities and also the impact that each of these indicators has on the final result of the evaluations.

Resumen La presente investigación tiene como objetivo la determinación de un modelo para ayudar a los municipios a estimar su desempeño en evaluaciones fiscales e implementar acciones para mejorar los resultados en su gestión local. Se utilizó el software EViews para el cálculo del modelo estimativo mediante una regresión lineal múltiple. Los resultados indican que la capacidad fiscal, la autonomía tributaria y el predial son las variables que mejor explican el desempeño fiscal de los municipios; además, muestran el impacto que tiene cada uno de estos indicadores en el resultado final de las evaluaciones.

Abstract: The objective of this article is to show that the administration and liquidation of the rents of former Jesuit colleges, known as temporalities, were connected to the Spanish crown’s new controls over old corporations. Its analysis is based on temporalities in the cities of Guadalajara, Zacatecas, Valladolid and Guanajuato between 1764 and 1792. The historiography has centered on the pedagogical transition undergone by these colleges, but has ignored what happened with their sources of financing. This article seeks to show how haciendas and rental houses untangled themselves from colleges and began to finance the state’s new needs. Two types of sources are used to analyze the problem: the triennial catalogs of the Archivum Romanum Societatis Iesu in Rome and the sources on temporalities held by the National Archive of Chile.

Resumen: El artículo tiene como propósito demostrar que la administración y liquidación de rentas de los antiguos colegios jesuitas, conocidos como temporalidades, están ligadas a un nuevo control de las antiguas corporaciones por parte de la Corona española. El análisis se hace a partir de las temporalidades de las ciudades de Guadalajara, Zacatecas, Valladolid y Guanajuato entre 1764 y 1792. La historiografía se ha centrado en la transición pedagógica que sufrieron los antiguos colegios, pero ha dejado de lado qué pasó con sus antiguas fuentes de financiamiento. Por ello, el artículo busca demostrar cómo las haciendas y casas de alquiler se desvincularon de los colegios y empezaron a financiar las nuevas necesidades del Estado. Se utilizan dos tipos de fuentes para analizar el problema. Los catálogos trienales del Archivum Romanum Societatis Iesu de Roma y las fuentes de temporalidades del Archivo Nacional de Chile.

ABSTRACT The aim of this paper is: first, to show that the relationship between Latin America and the International Monetary Fund (IMF) is a faithful reflection of a class struggle on a world scale, where the correlation of internal and external forces has been articulated over the years in favor of capital; second, to analyze the concrete possibilities that the region will face in the future if it intends to reverse this unfavorable history. The paper argues that the IMF has played a key role in the reconfiguration and extension of the dominance of international finance capital over the productive resources of Latin America by favoring the consolidation of a local capitalist class subordinated to the designs and power of transnational capital.

RESUMEN Los objetivos del presente trabajo son, por un lado, mostrar que la relación entre América Latina y el Fondo Monetario Internacional (FMI) es el fiel reflejo de una lucha de clases a escala mundial, donde la correlación de fuerzas internas y externas se ha articulado a lo largo de los años en favor del capital; por el otro, reflexionar sobre las posibilidades concretas que se presentan en la región ante el futuro si ésta pretende revertir esta nefasta historia. El artículo sostiene que el FMI ha cumplido un papel clave en la reconfiguración y la extensión del dominio del capital financiero internacional sobre los recursos productivos de América Latina, a partir de favorecer la consolidación de una clase capitalista local subordinada a los designios y el poder del capital trasnacional.

Resumen El objetivo fue estimar el impacto que tendrán los precios de garantía y de mercado del maíz blanco sobre el impuesto predial rústico para el 2023. Se utilizaron datos del Sistema de Información Agropecuaria y Pesquera (SIAP, 2022). El método utilizado es el deductivo y la investigación es de tipo explicativa y descriptiva. Los resultados indican que otorgar precios de garantía solo a productores de hasta 15 hectáreas y, excluir a los que sembraron más allá de esa superficie, afectará la recaudación. Entre los hallazgos se tiene la importancia de la siembra de maíz blanco para financiar obras públicas en comunidades rurales. Su originalidad radica relacionar la producción del maíz con el principal impuesto local de los gobiernos municipales: el predial. Por limitaciones no se pudo tener acceso al mecanismo de recaudación descentralizado, a partir de junio del presente año, para administrar dicho tributo.

Abstract The objective was to estimate the impact that the guarantee and market prices of white corn will have on the rustic property tax for 2023. Data from the Agricultural and Fisheries Information System (SIAP, 2022) were used. The method used is deductive and the research is explanatory and descriptive. The results indicate that granting guaranteed prices to producers of up to 15 hectares and excluding those who sowed beyond that area, will affect the collection. Among the findings is the importance of planting white corn to finance public works in rural communities. Its originality lies in the studied relationship production of corn with the main local tax of municipal governments: the predial. Due to limitations, it was impossible to have access to the decentralized collection mechanism, as of June of this year, to administer said tax.

ABSTRACT The changes brought about by globalization mean that young people are increasingly prepared not only intellectually, but also financially. From the point of view of financial education, its importance for the development of the quality of life of young people in higher education is described. The main objective of the research is to describe the results of researches that were conducted on financial education in young people of higher education taking into consideration researches published between the period of 2017-2022. The research corresponds to a documentary design. Scielo, Scopus, Dialnet, Redalyc, Alicia and Google Scholar were searched. Some research has related the type of university career, the level of indebtedness, technological gap or use of ICT, materialism and gender inequality. The study leads to the conclusion that the development of financial education is fundamental in the training of higher education students because it will allow them to have knowledge that can be related between theory and practice.

RESUMEN Los cambios por la globalización generan que los jóvenes estén cada vez más preparados no solo a nivel intelectual, sino también financiero. Desde el punto de vista de la educación financiera se describe su importancia para el desarrollo de la calidad de vida de los jóvenes de educación superior. El objetivo principal de la investigación es describir los resultados de las investigaciones que se realizaron sobre educación financiera en jóvenes de educación superior teniendo en consideración investigaciones publicadas entre el periodo de 2017-2022. La investigación corresponde a un diseño documental. Se realizaron búsquedas en Scielo, Scopus, Dialnet, Redalyc, Alicia y Google Académico. En algunas investigaciones se ha relacionado el tipo de carrera universitaria, el nivel de endeudamiento, brecha tecnológica o uso de las TIC, materialismo y desigualdad de género. El estudio permite concluir que, es fundamental el desarrollo de la educación financiera en la formación de los estudiantes de educación superior porque les permitirá tener conocimientos que puedan relacionar entre la teoría y la práctica.

Abstract Technological developments are followed in the form of speed and new products in the large finance ecosystem. Particularly, we can easily observe the increasing importance of both new products and speed in the cryptocurrency markets. Examining the liquidity in cryptocurrency markets, which are open 24 hours a day, 7 days a week, draws attention as an important issue. Liquidity, in simple terms, refers to the ease of converting a financial instrument into cash. Bid-ask spread of a financial instrument is also considered as a measure of liquidity. This study employs Markov switching GARCH (MSGARCH) models to investigate the intraday volatility of the liquidity of Bitcoin under low volatile and high volatile regime periods. The study analyses the 5 minutes’ intraday bid-ask spread by different types of MSGARCH models with different numbers of regimes. The analysed period 01.01.2019 - 06.29.2021 contains 52,548 observations. The first results of the study provide evidence that low and high volatility periods can be explained by different models such as MS EGARCH, MS TGARCH, and MS GJRGARCH. Secondly, the two-regime MSGARCH and MS GJR GARCH models are the best models for explaining low and high volatility periods of intraday Bitcoin liquidity.

Resumen Los avances tecnológicos y los nuevos productos avanzan de forma rápida en el gran ecosistema financiero. En particular, podemos observar fácilmente la creciente importancia tanto de los nuevos productos como de la velocidad en los mercados de criptomonedas. Examinar la liquidez en los mercados de criptomonedas, que están abiertos las 24 horas del día, los 7 días de la semana, llama la atención como un tema importante. La liquidez, en términos simples, se refiere a la facilidad para convertir un instrumento financiero en efectivo. El diferencial entre oferta y demanda de un instrumento financiero también se considera una medida de liquidez. Este estudio emplea los modelos Markov Switching GARCH (MSGARCH) para investigar la volatilidad intradía de la liquidez de bitcoin en períodos de régimen de baja y alta volatilidad. El diferencial de oferta y demanda intradía de 5 minutos se analiza mediante diferentes tipos de modelos MSGARCH con diferentes números de regímenes. El período analizado del 01.01.2019 al 29.06.2021 contiene 52 548 observaciones. Los primeros resultados del estudio proporcionan evidencia de que los períodos de alta y baja volatilidad pueden explicarse mediante diferentes modelos como MS EGARCH, MS TGARCH y MS GJRGARCH. En segundo lugar, los modelos de dos regímenes MSGARCH y MS GJR GARCH son los mejores modelos para explicar los períodos de baja y alta volatilidad de la liquidez intradía de bitcoin.

RESUMEN La investigación aborda la articulación del contexto empresarial con la práctica laboral de los estudiantes de ciencias contables. La lógica de la investigación tuvo en cuenta la utilización de métodos científicos del nivel teórico, empírico y estadísticos-matemáticos. La contribución práctica consiste en la articulación del sistema de relaciones que se establece entre los sujetos participantes y el contexto empresarial en el que se desarrolla la práctica laboral de los estudiantes de la carrera Licenciatura en Contabilidad y Finanzas. La implementación de un sistema de tareas docentes en la disciplina Práctica Laboral Contable y Financiera posibilitó las interrelaciones entre las dimensiones del contenido, las relaciones internas entre los componentes de la tarea docente y el vínculo de la teoría con la práctica de los estudiantes en la empresa desde la cooperación y subordinación entre los sujetos. Se reafirma que los estudiantes deben tener conocimientos técnico-profesionales, pero también ético-profesionales; se impone que se formen con respeto, profesionalidad, laboriosidad, honestidad y responsabilidad para dar respuesta a los principales problemas de su profesión y estén preparados para enfrentar y resolver las nuevas situaciones que se presenten en su futuro desempeño laboral.

ABSTRACT The research addresses the articulation of the business context with the work practice of accounting science students. The logic of the research took into account the use of scientific methods at the theoretical, empirical and statistical-mathematical level. The practical contribution consists of the articulation of the system of relationships that is established between the participating subjects and the business context in which the work practice of the students of the Bachelor's Degree in Accounting and Finance is developed. The implementation of a system of teaching tasks in the discipline of Accounting and Financial Labor Practice made possible the interrelationships between the dimensions of the content, the internal relationships between the components of the teaching task and the link of the theory with the practice of the students in the company. from cooperation and subordination between subjects. It is reaffirmed that students must have technical-professional knowledge, but also ethical-professional knowledge; It is essential that they be trained with respect, professionalism, hard work, honesty and responsibility to respond to the main problems of their profession and be prepared to face and resolve new situations that arise in their future work performance.

The structure of climate finance flows from donors (multilateral sources) to recipients (sub-Saharan African countries) was studied. This is the first study to provide a comprehensive network structure of the climate finance flows into Africa, based on the global public climate finance governance system. Network theory and decision tree techniques were employed. The results obtained generally fit the multilateral funding units (MFUs) into two categories: central funding units (CFUs), which simultaneously attend to the climate-related projects of many African countries, and the boundary funding units (BFUs), which cater to only a few countries at once. An isolated region with no BFUs was identified. African countries within this group could be more exposed to climate financial risk as they rely on only the CFUs. In general, with the exception of mitigation REDD (reducing emissions from deforestation and forest degradation) climate finance, a disproportionate distribution of climate themes, with particular reference to adaptation finance, was observed across sub-Saharan Africa. This has real implications for equitable resource allocation of climate funds. The need for African-bred region-wide MFUs is recommended. SIGNIFICANCE: Insights from this analysis expose the presence of contagion effects within the sub-Saharan African climate finance network structure and, consequently, the flow of climate finance-related risks. This knowledge is critical for future planning as it can provide African governments and interested stakeholders with informed evidence upon which they can make reliable and justifiable decisions, such as shaping of sectoral strategies and improving of climate finance flow coordination.

SIGNIFICANCE: The move away from LIBOR to new risk-free rates is crucial in finance. In this Commentary, I examine South Africa's readiness for transitioning from JIBAR to these new rates, especially regarding interest rate derivatives. I delve into how this shift impacts pricing, unique to South Africa's market. Using a mathematical model based on a 2 x 2 Wishart process, I analyse caplet pricing considering backward- and forward-looking rates. Comparing these caplet types reveals the complexities of pricing in this changing financial landscape. The insights shed light on challenges and opportunities for South Africa and the finance sector as JIBAR nears its end, emphasising the need for robust mathematical strategies in navigating this transition.