Escolar Documentos
Profissional Documentos
Cultura Documentos
Una publicacin de
Editorial
CENTRUM Catlica Graduate Business School
COMIT EDITORIAL
Fernando DAlessio
EDITORA EJECUTIVA
Carolina Pretell Es posible hacer negocios en cualquier parte del mundo. Lo difcil es
mantenerse al nivel del panorama empresarial mundial que cambia
JEFE DE INFORMACIN
Carlos Becerra de manera constante. Sin embargo, con el fin de evolucionar, crecer y
cbecerrag@pucp.edu.pe
tener xito, las economas necesitan cambiar y adaptarse en conjunto;
EDICIN Y ESTILO este axioma es vlido tanto para los pases desarrollados como para los
Roco Vega
aida.vega@pucp.pe pases en vas de desarrollo. El mismo razonamiento subyace del xito de
Special Edition 2015
una empresa nica. Como Jack Welch manifest de manera precisa: La
voluntad para cambiar es una fortaleza, incluso si esto significa sumergir
EDITOR EDICIN ESPECIAL
Vincent Charles parte de la empresa en una confusin total por un tiempo.
vcharles@pucp.pe
As such, successful global business partnerships depend on the adoption of a global perspective over the business
world. In this regard, it is of vital importance to count with the necessary knowledge to properly build on
international trade relations, analyzing the opportunities and challenges within the worlds markets. But what
exactly is this necessary knowledge?
Over time, development institutions such as the World Bank have directed their efforts towards developing
measurement tools, which would allow the evaluation of the regulatory environment of an economy in order to
assess whether this is conducive or not to the operation of business. The purpose of such an activity is easy to
uncover: the need to give some sort of predictability to the business environment in the endeavor to assist the
potential entrepreneurs to successfully establish their businesses.
Certainty, however, is highly uncertain. If one chases certainty, he will most likely fail. If one associates success
with certainty, he will definitely fail. Certainty makes the job easy and success is never the result of easy work,
but of work that demands to do our best. The ultimate competitive advantage and the truly necessary and,
fundamentally, possible-to-achieve knowledge is the entrepreneurs ability to continuously learn and to translate
the acquired lessons into practice.
Young minds to earning minds thrive to dream to become Steve Jobs to avoid jobs. Be the f irst in order to
win the battle might have been true before the globalization. Be sustainable in order to win the battle of
business is getting modernized. It is hoped that the present issue will lead to uncover some of the layers of the
unknown to know the market, where possible businesses flourish and plausible businesses hail. In the end, as
the great businessman Aristotle Onassis once stated: The secret of business is to know something that nobody
else knows.
Vincent Charles
Director de CENTRUM Investigacin
Director of CENTRUM Research
Tabla de Contenidos
ESPECIALES 8
19
Las Empresas de Verdad Necesitan
Megaciudades?
Does Business Really Need Megacities?
38
El Fin del Mtodo Cientfico en la Era Petabyte
de los Negocios?
The Demise of the Scientific Method in the Petabyte Age
of Business?
62
La Alianza del Pacfico: Una Integracin que
Despierta Inters Mundial
The Pacific Alliance: An Integration that Draws the
Worlds Attention
Table of Contents
INSTITUCIONALES 124
84
Vincent Charles
Profesor e Investigador Distinguido, Director de CENTRUM
Investigacin, CENTRUM Catlica Graduate Business School
Professor and Distinguished Researcher, Director of CENTRUM Research,
CENTRUM Catolica Graduate Business School
8
E
n trminos generales, cuando se
trata de aperturar un negocio en un
pas extranjero, los inversionistas
potenciales suelen mirar toda una serie
de indicadores que les permita mejorar
el proceso de toma de decisiones y escoger la
mejor opcin. De hecho, hay muchos estudios que
precisamente muestran lo que tiene importancia
y cunto pesa cada indicador cuando se toma tal
decisin. Las normas y reglamentos relativos al
ingreso y a las operaciones de los inversionistas
extranjeros, la eficiencia, la rentabilidad y la
sostenibilidad a largo plazo de los mercados meta,
las polticas comerciales y de privatizacin, entre
B
otros, son solo algunos de los factores considerados.
Por otra parte, los inversionistas buscan incentivos roadly speaking, when it comes to opening
para hacer la inversin, como reglamentos que a business in a foreign country, potential
nivel de impuestos es una parte integral del ndice de best examples in this regards is the Small Business Act
Hacer Negocios (Doing Business). Vamos a desarrollar (SBA), an overarching framework for the European Union
ms este punto en nuestro siguiente anlisis. policy on SMEs, aimed to improve the approach to
entrepreneurship in Europe, simplify the regulatory and
El Banco Mundial publica el ndice de Facilidad para policy environment for SMEs, and remove the remaining
Hacer Negocios2 , cuyo objetivo es medir el grado en barriers to their development1.
el que el entorno reglamentario de una economa
es propicio para la operacin de negocios en 189 Furthermore, given the above framework, it is often
pases a nivel mundial. El ndice de Hacer Negocios hard to decide where is best to start a business: in a
se basa en el promedio simple de la clasificacin country with a low tax rate but with higher corruption
basada en 10 factores (indicadores). Los datos de or in a country with high taxes but a stable and quite
estos factores se recopilan a travs de encuestas, predictable business environment. There are studies
cuya administracin se facilita gracias al trabajo de that show that when faced with such dilemmas, most
los abogados consultores de negocios y funcionarios of the investors decide to take the safe route, and that
gubernamentales, entre otros profesionales. means that their decision-making process gets biased in
the sense of allocating a greater importance to just how
De acuerdo con la metodologa empleada, el ndice attractive the local business environment of interest is. It
es una cifra global que incluye 10 factores que is this last point which is being addressed by the World
10
definen la facilidad para hacer negocios en un pas
determinado. Se calcula agregando la puntuacin
de distancia a la frontera de las diferentes Nuestro objetivo es clasificar
economas. La puntuacin de distancia a la frontera las economas de acuerdo a
utiliza las mejores prcticas reglamentarias para
hacer negocios como el factor y luego toma como los resultados obtenidos en
puntos de referencia las economas de acuerdo a los distintos factores.
ese factor. Para cada uno de los factores que forman
parte de la estadstica de la facilidad para hacer
negocios, se calcula la puntuacin de distancia a As such, our objective was to
la frontera y se agregan todos los resultados. La rank the economies according
puntuacin agregada se convierte en el ndice de
Facilidad para Hacer Negocios. 3 Los 10 factores
to the outcomes achieved in the
para los que se calcula la distancia a la frontera son various factors.
los siguientes:
Apertura de un negocio
Starting a Business
Getting Electricity
ENVELOPMENT-BASED APPROACH
Registering Property
(Rank-Oriented)
Getting Credit
Protecting Investors
Paying Taxes
Enforcing Contracts
Resolving Insolvency
la puntuacin, ms precisa ser la clasificacin de los work of lawyers, business consultants, and government
pases. Por consiguiente, los inversionistas potenciales officials, among other professionals.
tendrn acceso a informacin ms precisa.
According to the methodology employed, the index is an
Gracias a este impulso de tener un ndice que pueda aggregate figure that includes 10 factors which define the
proporcionar una mayor creacin de valor para ease of doing business in a given country. It is computed
los inversionistas potencialesy, posteriormente, by aggregating the distance to frontier scores of different
generar ms prosperidad para la poblacin por medio economies. The distance to frontier score uses the regulatory
de la atraccin de un mayor flujo de inversiones best practices for doing business as the factor and then
12 extranjeras directashemos considerado la benchmarks the economies according to that factor. For
posibilidad de desarrollar un ndice que pueda each of the factors that form a part of the statistic Ease of
capturar con mayor precisin la eficacia del clima de Doing Business, a distance to frontier score is computed and
los negocios de los 189 pases, teniendo en cuenta all the scores are aggregated. The aggregated score becomes
los mismos factores antes mencionados. Adems, el the Ease of Doing Business Index3. The 10 factors for which
resultado de esta investigacin se ha traducido en el the distance to frontier is computed include:
desarrollo de una nueva metodologa basada en el
anlisis envolvente de datos, segn lo representado Starting a Business
en la Figura 1. Dealing with Construction Permits
Getting Electricity
Por lo tanto, nuestro objetivo es clasificar las Registering Property
economas de acuerdo a los resultados obtenidos Getting Credit
en los distintos factores. Pero a diferencia de la Protecting Minority Investors
metodologa empleada por el Banco Mundial (es Paying Taxes
decir, una metodologa de pesos iguales, donde Trading Across Borders
cada variable tiene el mismo peso en cada uno de Enforcing Contracts
los 10 factores y cada factor tiene el mismo peso Resolving Insolvency
en el ndice global), a travs del Anlisis Envolvente Finally, a number of 189 countries are ranked as per
de Datos no se impondran pesos adhoc. El the index.
razonamiento detrs de esto es el siguiente:
con mltiples resultados para evaluar, diversos It is relevant to mention one particular point of interest,
pesos podran producir diferentes rdenes en la and that is, even if the relevant factors comprised by the
clasificacin; adems, la imposicin de los mismos Doing Business report focus on SMEs, in reality, many
pesos para cada economa no podra reflejar policymakersas well as researchers and multinational
sus preferencias o limitaciones individuales. companiesassociate the movement of these factors
Nuestra metodologa supera todas estas barreras. with the movement related to the flow of foreign direct
Asimismo, el modelo propuesto es invariante a las investments in the country. According to studies reported
unidades de medida e invariante ante una traslacion by the World Bank 2, countries with a higher Doing
del sistema de coordenadas empleado. Business ranking seem to have attracted more foreign
direct investments than the countries with a lower
Se realiz un anlisis adicional con el fin de Doing Business ranking, even when taking into account
poder revisar mejor las similitudes y diferencias differences across economies in other factors considered
entre el modelo del Banco Mundial y nuestro important for FDI. While this finding does not imply a
modelo propuesto. Como se puede observar en causal relationship, it is, however, indicative of the Doing
200
United 180
States New
Zeland 160
Envelopment Based Index
Iceland
Malaysia 140
Norway
Finland 120
100
Lithuania
belgium Georgia 80
Australia
United 60
Kingdom y = 0.935x + 6.1746
Korea, 40 R2 = 0.8742
Rep. Canada Hong Kong 20
Ireland SAR China
0
Taiwan Saudi 0 20 40 60 80 100 120 140 160 180 200
China Singapore Arabia
Doing Business Index
13
United Malaysia
States Macedonia
United FYR
Kingdom
Ireland New
Zeland
Iceland Denmark
Australia
Finland Norway
Hong Kong
SAR China Canada
Georgia Saudi
Korea, Arabia
Taiwan Rep.
Lithuania
China Singapore
-40 -20 0 20 40
40
Denmark
Belgium
Macedonia, FYR
36
Saudi Arabia 35
Belgium
14 Taiwan, China
30
Lithuania
Saudi Arabia
Macedonia, FYR
Finland
26
Ireland 25
25
Georgia
Korea, Rep.
Canada
20
Malaysia
Taiwan, China
Lithuania
19
Ireland
17
New Zealand
15
16
Canada 15
Iceland
United Kingdom
13
Finland
11
United Kingdom
12
Norway
10
10
Hong Kong SAR, China
Georgia
Korea, Rep.
Singapore
9
Malaysia
New Zealand
8
United States
Australia
Denmark
7
6
Iceland 5
5
3
4
United States
Singapore
Norway
1
0
1 3 5 7 9 11 13 15 17 19
Norway 1 9 United
United States 2 4 States
United States
Iceland 3 13
United
Australia 4 11 Kingdom Macedonia Malaysia
Singapore New FYR
5 Zealand 1
United Kingdom 6 Iceland 10 Ireland
Malaysia
Hong Kong SAR, China 7 Norway 2 New
Iceland Denmark Zealand
Canada 8 Finland 19
New Zealand 9 3
Lithuania Australia
Malaysia 10 Georgia United 6 Finland
Korea, Rep. 11 Australia Belgium Kingdom 7 Hong Kong SAR, Norway
Georgia Canada
12 8 China
Ireland 13 Korea Rep. United 15
Canada Georgia Korea Rep. Saudi
Finland 14 States 12
Ireland Arabia
Lithuania 15 17 Taiwan,
Taiwan, China 16 Saudi 16 China Lithuania
Taiwan, Arabia
Belgium 17 China Singapore 36
Singapore
Saudi Arabia 18 26
Macedonia, FYR 19 25
comprenden el ndice: pago de impuestos. factor has the same weight in the global index), through
Este factor registra las tasas y contribuciones Data Envelopment Analysis we would not impose ad-hoc
obligatorias que una empresa mediana promedio weights. The reasoning behind is the following: with multiple
paga en un ao calendario. Adems, tiene tres outcomes to evaluate, different weights could produce
componentes2: el nmero de pagos (incluyendo la different orderings in the ranking; furthermore, imposing
forma de pago, la frecuencia de pago, la frecuencia the same weights for every economy could fail to reflect
de registro y el nmero de entidades que their individual preferences or constraints. Our methodology
participan), el tiempo necesario para hacer estos overcomes all of these barriers. Moreover, the proposed
pagos y la tasa impositiva efectiva (anteriormente model is both unit invariant and translation invariant.
llamada nivel de tributacin) como un porcentaje
o proporcin de las ganancias comerciales. We performed a further analysis in order to have a better
look at both the similarities and differences between the 15
La Figura 5 representa los 10 primeros pases en World Banks model and our proposed one. As it can be seen
el pago de impuestos (donde a menor rango in Figure 2, the regression analysis shows a high correlation
between the models, while the S-curve analysis provides a
positive gesture by yielding that our model is unbiased.
La Regin Administrativa The newly derived scores allow us, thus, to compute the
Especial de Hong Kong final Ease of Doing Business Index, which we then use to
re-rank the 189 countries as shown in Figure 3.
(China) desciende tres
puestos. Figure 4 provides a glimpse of how the new ranking looks
like in the case of the first 20 countries, as compared to
the ranking available from the Open Source, that is, the
Hong Kong SAR (China) World Bank.
loses three places.
For instance, we can see that Norwaywhile being previously
reported by the World Bank as occupying the 9th position
numrico, mejor ser la situacin del pas) segn lo it is actually the country with the best Doing
informado por el Banco Mundial en 2015 (primera Business Index in 2015, and, as such, the
mitad de la figura, lado izquierdo), desde los Emiratos country with the best business climate. Similarly,
rabes Unidos en el primer puesto hasta Kiribati, Singapore, previously ranked in the 1st position,
que ocup el noveno lugar. La segunda mitad de la actually occupies the 4th place, according to the
cifra (lado derecho), por el contrario, representa a envelopment-based index.
los 10 primeros pases en el pago de impuestos
obtenidos mediante la aplicacin del ndice basado Let us go deeper into the analysis and have
en el anlisis envolvente. Como tal, podemos notar a further look at one the specific factors
que los Emiratos rabes y el Estado de Qatar no comprising the Index: Paying Taxes. This
registran modificaciones con respecto a su situacin factor records the fees and mandatory
anterior, ocupando el primer y segundo puesto, contributions that an average, medium-sized
respectivamente. La situacin empieza a cambiar company pays in a calendar year. Furthermore,
con Arabia Saudita: mientras que antes el pas it has three components2: the number of
estuvo ubicado en el tercer puesto, el ndice basado payments (including the method of payment,
en el anlisis envolvente lo reposiciona en el cuarto the frequency of payment, the frequency of
puesto. La Regin Administrativa Especial de Hong filing, and the number of agencies involved),
Strategia | Edicin Internacional
Kong (China) desciende tres puestos, del cuarto al the time required to make these payments,
sptimo puesto e Irlanda desciende cuatro puestos, and the actual tax rate (previously named
del sexto al dcimo puesto. Bahrin gana estatus, level of taxation) as a percentage or share of
puesto que pasa del sptimo puesto al tercer puesto the commercial profits.
en la nueva clasificacin. Lo mismo sucede con
Omn, un pas que se ubic previamente en el noveno Figure 5 depicts the top 10 countries
puesto y ahora ocupa el sexto puesto. Las cosas in Paying Taxes (where the lower the
son muy diferentes en lo que se refiere a Singapur, numerical rank, the better the situation of
Canad, y Kiribati. El Banco Mundial report que the country) as reported by the World Bank
estos pases ocuparon el quinto, octavo y dcimo in 2015 (first half of the figure, left side),
puesto, respectivamente. Sin embargo, mirando el from the United Arab Emirates placed in
lado derecho de la figura, podemos apreciar que ya the 1st position to Kiribati, occupying the 9th
no son parte de la nueva clasificacin, su lugar en place. The second half of the figure (right
la clasificacin debe haber sido reemplazado por side), on the other hand, depicts the top
Luxemburgo, Kuwait e Irlanda, respectivamente. 10 countries in Paying Taxes as obtained
De esta manera, los resultados obtenidos por el through the application of the envelopment-
modelo basado en el anlisis envolvente no solo based index. As such, we can notice that both
reorganizan las posiciones de los pases que figuran the United Arab Emirates and Qatar do not
16 register any modifications to their previous
status, occupying the 1st and 2nd position,
respectively. Things start changing with
Envelopment-based Index
Kiribati 16 Qatar
Oman 14
Bahrain
in the 3rd position, the envelopment-based index
12
Canada 10 Saudi Arabia re-positions it in the 4th position. Hong Kong SAR (China)
8
6 loses three places, from the 4th to the 7th position, and
Bahrain Luxembourg
4
2
Ireland loses four places, from the 6th to the 10th position.
Ireland 0 Oman Bahrain gains status, as it passes from the 7th position to
Singapore Hong Kong SAR,
the 3rd position in the new ranking. So does Oman, country
China previously positioned in the 9th place and now occupying
Hong Kong SAR, Kuwait
China the 6th place. Things are quite different in what concerns
Saudi Arabia Switzerland
Singapore, Canada, and Kiribati. These countries were
Qatar Ireland
United Arab Emirates reported by the World Bank as occupying the 5th, 8th, and
10th places, respectively. By looking at the right side of the
Figura 5. Los 10 primeros pases en pagar impuestos. figure, however, we can see that they are no longer a part
Figure 5. Top 10 countries in paying taxes. of the new ranking, their place in the ranking having been
en los primeros 10 pases, sino que replaced by Luxembourg, Kuwait, and Ireland, respectively.
tambin favorecen la entrada de As such, the scores yielded by our envelopment-based
nuevos pases (Luxemburgo, Kuwait model do not only re-arrange the positions of the countries
y Suiza) y permiten la salida de otros listed in the top 10, but also favor the entry of new ones
(Singapur, Canad y Kiribati). (Luxembourg, Kuwait, and Switzerland) while allowing the
exit of other ones (Singapore, Canada, and Kiribati).
Para simplificar la comprensin de lo
que parece ser un concepto complejo To simplify the understanding of what seems to be a
con un clculo enredado, recordemos complex concept with an entangled calculation, let us
la premisa fundamental del ndice de recall the fundamental premise of the Doing Business
Hacer Negocios que nos ha guiado Index, which has guided us through all along: any economic
todo el tiempo: cualquier actividad activity requires good rules, that is, legitimate, simple,
econmica requiere buenas normas, accessible, and effective rules. It is these rules that should
es decir, reglas legtimas, simples, establish and clarify property rights and reduce the cost
accesibles y eficaces. Estas reglas son of resolving disputes; rules that increase the predictability
las que deben establecer y clarificar of economic interactions and which, furthermore, protect
los derechos de propiedad y reducir el partners in a commercial contract against abuses2. In this
Bolivia
Argentina
Brazil
Colombia
Chile
Per
oportunidades de inversin.
Referencias
1
http://ec.europa.eu/growth/smes/business-friendly-environment/small-business-act/index_en.htm
2
La informacin acerca del ndice de Hacer Negocios desarrollado por el Banco Mundial y el material relacionado se ha recuperado de:
http://www.doingbusiness.org
3
http://economictimes.indiatimes.com/e/ease-of-doing-business/articleshow/46621096.cms
References
1
http://ec.europa.eu/growth/smes/business-friendly-environment/small-business-act/index_en.htm
2
The information on the Doing Business Index developed by the World Bank and other related material has been retrieved from:
http://www.doingbusiness.org
3
http://economictimes.indiatimes.com/e/ease-of-doing-business/articleshow/46621096.cms