Small Business International Review <p><i class="ai ai-open-access ai-4x ai-fw ai-pull-left" style="color:#f6830a"></i>The journal <strong>Small Business International Review</strong> provides immediate <strong>open access</strong> to its content on the principle that making research freely available to the public supports a greater global exchange of knowledge.<strong> Authors are not asked to pay Article Processing Charges (APCs) for this journal in any case</strong>. The journal offers a permanent open call for papers. The articles can be sent using the platform of the journal or can be sent by attaching the document to the address <a href=""></a> indicating in the subject: '[SBIR] Article sent'. To submit your manuscript through the platform <a href="/index.php/sbir/login">click here</a>. Recently we changed the website improving the version of the 'Open Jornal System' platform, so maybe you are not familiar with this new interfaz. Please do not hesitate to contact us in case you have any question or any problem when submitting your article. Remember that we will be very pleased to support you.</p> <p>Explanatory note about the change of the <strong>Creative Commons License</strong>: <strong>Small Business International Review</strong> published its first two issues under a <a href="" rel="license">Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License(CC BY-NC-ND 4.0)</a>. But the editors after the knowledge of the <a title="DECLARATION OF MEXICO in favor of the latin american Non-Commercial Open Access Ecosystem" href="" target="_blank">DECLARATION OF MEXICO in favor of the latin american Non-Commercial Open Access Ecosystem</a>&nbsp;have decided to publish from that moment through a <a title="Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License (CC BY-NC-SA 4.0)" href="" target="_blank">Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License (CC BY-NC-SA 4.0)</a> as a result of it the Vol. 2, Num. 2 (2018) is under this new version of licence as well as all new issues from now.</p> Spanish Accounting and Business Administration Association - AECA en-US Small Business International Review 2531-0046 <p id="copyrightNotice">Authors who publish with this journal agree to the following terms:</p> <ol> <li class="show">Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a <a title="Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License (CC BY-NC-SA 4.0)" href="" target="_blank" rel="noopener">Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License (CC BY-NC-SA 4.0)</a> that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal, commercial uses are not permitted and, if you remix, transform, or build upon the material, you must distribute your contributions under the same license as the original.</li> <li class="show">Authors are able to enter into separate, additional contractual arrangements for the <span style="text-decoration: underline;">non-exclusive distribution</span> of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book, their personal web page or in any other open data base), duly noting the <em> <em>Small Business International Review</em> </em> as original source of material, including the authorship, the year of publication, number of issue, and the pages on which the information appears, as well as the link to the Journal’s web page using its assigned DOI <sup>®</sup> name.</li> <li class="show">Explanatory note about the change of the <strong>Creative Commons License</strong>: <strong>Small Business International Review</strong> published its first two issues under a <a href="" rel="license">Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License(CC BY-NC-ND 4.0)</a>. But the editors after the knowledge of the <a title="DECLARATION OF MEXICO in favor of the latin american Non-Commercial Open Access Ecosystem" href="" target="_blank" rel="noopener">DECLARATION OF MEXICO in favor of the latin american Non-Commercial Open Access Ecosystem</a>&nbsp;have decided to publish from that moment through a <a title="Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License (CC BY-NC-SA 4.0)" href="" target="_blank" rel="noopener">Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License (CC BY-NC-SA 4.0)</a> as a result of it the Vol. 2, Num. 2 (2018) is under this new version of licence as well as all new issues from now.</li> </ol> The discount rate in the business valuation process: an empirical study in Colombia Firms' valuation is an increasingly important activity in a globalized context with more dynamic and internationalized companies in search of value creation. Internationalization is increasingly affecting developing countries that are forced to deal with international M&A and the requirements of their increasingly specialized partners, such as is the case of Colombia. Normally, the use of ad-hoc update rates is required in the process. The main goal of this work is to increase our knoledge ion the use of the discount rate in the business valuation activity in Colombia. For this purpose, an exploratory study based on a survey of 32 Colombian experts in business valuation is included. Our main conclusions reveal that Colombian experts behave similarly to international valuers, although there is a large dispersion in the estimation of the discount rate. In this way, the research carried out can be of interest not only for professionals but also for academics and managers who participate in this process to offer information about the Colombian reality in an international context Alfonso Rojo-Ramírez César Augusto Palomino Rubio Domingo García Pérez de Lema José Domingo González Benítez Jose Zacarias Mayorga Sanchez Miguel Antonio Alba Suárez ##submission.copyrightStatement## 2019-01-01 2019-01-01 3 1 19 35 10.26784/sbir.v3i1.145 A Critical Analysis of Scenarios for Small and Medium Enterprisee in NAFTA renegotiations The aim of this paper is to set some scenarios for small and medium enterprises (SMEs) from a critical analysis of the provisions in the North American Free Trade Agreement (NAFTA) renegotiation, its challenges and opportunities. The critical analysis departs from the questionable position of the withdrawal from NAFTA and their consequences for SMEs of not giving continuity through a process of renegotiation among the three partners. The method used is the critical analysis based mainly in some sources of information, analysis of results of NAFTA, and the strategic examination of its challenges and opportunities for SMEs. Finally, the analysis establish some possible scenarios post-NAFTA renegotiation and some strategic proposals for the SMEs José G Vargas-Hernández Elsa Patricia Orozco Quijano Jorge Virchez ##submission.copyrightStatement## 2019-01-01 2019-01-01 3 1 1 18 10.26784/sbir.v3i1.151 The Dynamic Capabilities and the Entrepreneurial Orientation: Source of Innovation and Profitability in the Mexican SME In modern times, competitiveness is a challenge and opportunity for organizations. The globalization of markets and the introduction of new technologies in new business models, large companies and especially SMEs, require strategies that encourage them to strengthen their competitiveness and increase profitability. For this, SMEs are incorporating actions derived from the dynamic capabilities, among which the orientation towards entrepreneurship, organizational learning, R&D, and market strategies stand out. The main objective is to analyze if, the dynamic capabilities and the entrepreneurial orientation, have influence on the activities of innovation and the profitability that is manifested in the SME. The study focuses on a sample of 1,012 SMEs from the Northwest region of Mexico; the data collection was made through a structured survey directed to the company manager during the period from September to December 2016. The statistical technique based on the analysis of variance through the Structural Equation Method (SEM) with the support of Partial Least Square (PLS), it was used to test hypotheses. The results reveal that the dynamic capabilities have a strong influence on the variables: entrepreneurial orientation, innovative activity and the profitability of the SME. In addition, we found that entrepreneurial orientation and Innovation activities significantly influence the profitability of SMEs. The research contributes to the development of the literature of the dynamic capabilities and of the entrepreneurial orientation Luis Enrique Valdez Juárez Elva Alicia Ramos Escobar Edith Patricia Borboa Álvarez ##submission.copyrightStatement## 2019-01-01 2019-01-01 3 1 49 66 10.26784/sbir.v3i1.158 Analysis of relations between the types of innovations and performance in technological parks The need for companies to always innovate to stay competitive makes them invest in innovations. The impact of these innovations between them and the performance of innovations needs to be better explored and understood. This article analyzes the relationship between innovation types and performance in Brazilian technology parks. To reach the objective, a survey was conducted with 231 companies resident in the Brazilian technology parks and the analysis of the data obtained was done through the modeling of structural equations. As a result, it was identified that organizational innovations influence process and marketing innovations, process innovations influence product innovation and organizational performance, and marketing innovation influences organizational performance Lucas Bonacina Roldan William Neves Bastos ##submission.copyrightStatement## 2019-01-01 2019-01-01 3 1 36 48 10.26784/sbir.v3i1.172 Human Resources Practices and Firm Performance: Exploring the AMO Model in Spanish SMEs Human resource management has traditionally focused on large companies. However, in recent years there is great interest in characterizing small and medium-sized enterprises (SMEs), analyzing how human resources practices are implemented in them, and verifying the impact of such practices on business performance. In this way, using a sample of 1136 Spanish SMEs, our aim is to verify how human resources practices are implemented in this context and, in particular, to explore the orientation of these policies to the AMO model (ability, motivation, opportunity). Our results show that firm seniority, the nature of corporate control and the education level of manager are the contingent factors that have greater impact on the development of human resources practices. In addition, firms have higher performance when their human resources practices are oriented to the AMO model Gabriel Lozano-Reina Gregorio Sánchez Marín ##submission.copyrightStatement## 2019-01-01 2019-01-01 3 1 67 85 10.26784/sbir.v3i1.175 International financial inclusion: some multidimensional determinants The generalized access to financial services is a promising source of growth and social inclusion to reach “decent life for all”, just as is conceived in the development agenda in the Millennium Declaration and ratified in the 2030 agenda for sustainable development of the United Nations. Some groups in financial terms are more excluded than others: the poor, women, youngsters, and the inhabitants of far rural communities scarcely populated, tend to face a larger number of barriers to access these services. Recently created businesses and small ones face a greater number of insuperable obstacles. This paper analyzes the recent financial inclusion in the global scope, with special emphasis on SMEs. Its importance and meaning are deeply examined; some of its determinants are presented and tested, such as credit banking, through a model based on panel data. It is found that, given some country cultural traits linked to their risk aversion and long-term vision, achieving a larger financial inclusion on the credit side, depends not only on the access channels and the characteristics of the offered products, but on different demand aspects as some socioeconomic features of their potential customers. Lilianne Isabel Pavón Cuéllar ##submission.copyrightStatement## 2018-07-01 2018-07-01 3 1 1 14 10.26784/sbir.v2i2.125 Exploring the Relationships Between Innovation and Internationalization of SMEs Catalonia: Determinants of Innovation Capacity This document examines the determinants of innovation capacity and the relationship between it and the internationalization using multivariate technique linear regression The results suggests that there are four organizational variables (determinants), principally which favorably affect to innovation capacity of SMEs. And also, that innovation capacity is positively related to internationalization. The characteristics of the findings are discussed, taking into account the proposed research model Jorge Alejandro Pinilla Jara Alex Rialp Criado ##submission.copyrightStatement## 2018-07-01 2018-07-01 3 1 15 37 10.26784/sbir.v2i2.129 The impact of innovation and finance on the competitiveness of manufacturing SMEs Studies on competitiveness in SMEs, highlight some main factors that affect it. Given the frequency of appearance of innovation and finance among these factors, they have been considered for the realization of this study. For its part, manufacturing industry historically has been one of the most important economic sectors in the State of Aguascalientes, Mexico. Because of that, this research deals with the impact of innovation and finance in the competitiveness of manufacturing SMEs in Aguascalientes. According to this, 206 surveys were applied to those responsible for the administration of this kind of business organizations. The data obtained was used to carry out an analysis of reliability and validity of the scales applied, and also a multiple regression analysis was executed in order to evaluate the correlation between the variables used. The results provide empirical evidence that innovation and finance are important factors in the competitiveness of the companies studied. Jorge Rangel-Magdaleno ##submission.copyrightStatement## 2018-07-01 2018-07-01 3 1 38 53 10.26784/sbir.v2i2.142 Factors associated to competitive success in the academic Spin-off from Costa Rica Public University In this article, the factors associated to the competitive success of the academic Spin-off of the Costa Rican public universities are analyzed, a quantitative research was carried out in 44 academic Spin-off identified. The data were analyzed using univariate, multivariate statistical techniques and logistic regression. The results show that companies founded by academic entrepreneurs with an academically competitive profile within the university and with high personal motivations to undertake, as well as, companies that put into practice both factors associated with innovation and training; as, factors associated with intrapreneurial culture, are associated with competitive success. The multivariate analysis showed that companies founded by entrepreneurs with the desire to put into practice the acquired technical knowledge, that they seek to work for their own account and the companies that put into practice favoring that employees run risks in favor of the company, although sometimes Make mistakes, they are more likely to have competitive success. The results are especially useful for the managers of the academic Spin-off and the promotion agencies of these institutions so that they can design and promote strategies and policies that favor the growth and competitiveness of the academic Spin-off Mauricio Monge Agüero ##submission.copyrightStatement## 2018-07-01 2018-07-01 3 1 54 70 10.26784/sbir.v2i2.136 Competitiveness in small and medium sized businesses in the Metropolitan District of Quito The present investigation analyzes, knows and compares the level of competitiveness in the Small and Medium Enterprises of the prioritized sectors in the change of the productive matrix: Tourism, Food, Textile, Pharmaceutical, Metalworking, Clothing and Footwear in the Metropolitan District of Quito. This study is based on the competitiveness model proposed by the World Economic Forum (WEF). The study is non-experimental descriptive. The methods to obtain the data were the documentary analysis and surveys to obtain the soft data required by the WEF method. To determine the level of competitiveness and know the reality of SMEs, the characterization of the sectors was carried out, determining the importance of these for the transformation of the productive matrix, the competitiveness index according to the methodology is obtained with the calculation of 3 sub-indices, which are formed by 12 pillars and each pillar composed of variables established according to the sector analyzed. From the research of the current situation of SMEs and the determination of the level of sectoral competitiveness strategies for the national industry, with the vision of achieving better levels of competitiveness, these strategies are alienated to the change of the productive matrix, to search so that Ecuador stops being a producer of only raw material and becomes an exporter of final products with added value, benefiting both the business sector and Ecuador. The research could be extended by including the remaining sectors and the left provinces from Ecuador. Jaime Cadena Echeverría Mercedes Eugenia Aguilar Pedro Enrique Buitron ##submission.copyrightStatement## 2018-07-01 2018-07-01 3 1 71 94 10.26784/sbir.v2i2.102 The systemic competitiveness of manufacturing MSMEs at the micro level: the case of the manufacture of wooden furniture, Ecuador Competitiveness has been considered from traditional to modern economic theory as an element of differentiation between countries through their companies. The evolution of the concept of competitiveness was initiated by the classical economists in the year 1776 until current trends with Porter (1990) where a systemic analysis is used. In Ecuador there are no established parameters to determine the competitiveness of companies, there is a commercial dynamism where about 95% is covered by micro, small and medium enterprises, which makes it necessary to carry out this research that has the objective of measuring of the competitiveness in the micro level of the systemic approach, in the companies of manufacture of wooden furniture. For this purpose, the IDB's competitiveness map was used, adapted by Saavedra (2014); the main findings allow to determine that the companies studied have low competitiveness, the factors in which they stand out are Environmental management, Quality assurance, Production and operations and Strategic planning; The relationship between factors and competitiveness shows evidence of the importance of Human Resources to boost the competitiveness of companies in this sector Katina Vanessa Bermeo Pazmiño María Luisa Saavedra García ##submission.copyrightStatement## 2018-01-01 2018-01-01 3 1 1 15 10.26784/sbir.v2i1.20 Performance and internationalization effects of the use of ICT in diversified companies The relationship between Information and Communication Technologies (ICT) and business performance has been a topic of great importance for academics from different areas for several decades. In this sense, this study analyzes the impact of the use of ICT on the diversification strategy of small and medium enterprises (SMEs). From a sample of 95 companies in the Autonomous Community of the Basque Country, it is evident that diversified companies show a higher level of use of ICTs and that this resource affects positively the degree of international diversification and business performance. For the descriptive and correlational statistical analysis of the variables, the SPSS software version 21 was used Omar León Juan Ignacio Igartua Jaione Ganzarain ##submission.copyrightStatement## 2018-01-01 2018-01-01 3 1 16 28 10.26784/sbir.v2i1.22 Human and social capital as drivers of entrepreneurship The objective of this study is to determine whether human and social capital are drivers of entrepreneurship. The methodology involves the estimation of descriptive and inferential statistical techniques such as logistic regressions and correlations of variables. It is focused on information from the Global Entrepreneurship Monitor database for 2012 from Germany and Costa Rica. The results demonstrate that human and social capital, factors related to knowledge, have a positive statistical relationship with the propensity to become an entrepreneur. Little difference exists among knowledge-related factors across countries. They are mainly related to the cultural contexts, which affect the propensity to become an entrepreneur Carolina Madriz Juan Carlos Leiva Ralph Henn ##submission.copyrightStatement## 2018-01-01 2018-01-01 3 1 29 42 10.26784/sbir.v2i1.47 Strategic approach, entrepreneurial orientation and experience: factors that drive the development of technological capabilities in the automotive sector The level of technological capabilities that manages to develop an organization is of great relevance to generate competitive advantages. The study of technological capabilities has focused on analyzing its relationship with business performance, learning, internationalization, cooperation, among other strategies. This study focuses on the analysis of entrepreneurial orientation, the organization's strategic approach and experience, and its impact on the development of technological capabilities of enterprises in the automotive sector in the center region of Mexico. The results show that companies that want to improve their level of technological capabilities must establish a company philosophy focused on innovation, which leads to make decisions proactively, by continually scanning the environment and managing organizational knowledge to learn from the experiences. Alejandra Lopez-Salazar Rubén Molina-Sánchez Denise Gómez-Hernández ##submission.copyrightStatement## 2018-01-01 2018-01-01 3 1 43 57 10.26784/sbir.v2i1.25 Bibliometric analysis of the influence of corruption and regulation in entrepreneurship activity The difficulty of starting a business, in relation to red tape, has awaken interest of researchers from different scientific fields. But, added to the problem of red tape, we find that entrepreneurial activity is influenced by informal institutions such as corruption, which become visible in the entrepreneurial process. This research analyzes the scientific evolution in relation to the influence of corruption and regulation in the entrepreneurial activity according to the economic growth, under the approach of the Institutional Economic Theory. Through the analysis of the number of published works, the percentage of the same in the field of investigation and the index of citation of the same. Our first conclusions lead us to think that in recent years there is a special interest in the influence of corruption and regulation on entrepreneurship Gemma Fuentes-Calle Juan Carlos Díaz-Casero Ricardo Hernández Mogollón Antonio Fernández-Portillo Raul Rodriguez-Preciado ##submission.copyrightStatement## 2018-01-01 2018-01-01 3 1 58 80 10.26784/sbir.v2i1.91 Social representations on the meaning of entrepreneurship in rural women and men The generation of new entrepreneurships has become one of the objectives of development policy at the global level, these objectives are oriented to the development of small and medium enterprises, and they give a special importance to entrepreneurship in rural areas. There are many studies on this subject, however, there are few studies that examine the meaning of entrepreneurship for the people who carry it out. This article aims to describe the social representations about the meaning of entrepreneurship and the rural entrepreneurial motivation of men and women, at the same time, it aims to compare the results according to gender. The sample was consisted of 21 women and 21 men from rural areas of a commune in the Region of Araucanía in Chile. Natural semantic networks technique was used and the results show common contents in the social representations, therefore it is argued that there are no differences according to gender Viviana Karela Moliné Alvarez ##submission.copyrightStatement## 2017-07-01 2017-07-01 3 1 1 10 10.26784/sbir.v1i1.2 Determining factors explaining access to bank financing: an empirical study in Peruvian companies This study analyses the causes of credit rationing in micro and small Peruvian companies. Given that in Peru there is a special problem in access to credit since the financial system is not fully developed and the possibilities of access to bank credit are lower than in other economies. For this, an empirical study is developed through a survey of a sample of 158 micro and small Peruvian companies. Our work produces robust results in terms of factors that influence the access to financing of micro and small enterprises in Peru. In this way, tangible and intangible factors are identified, such as quality certification, good management systems, planning within the company, innovation activities, highly qualified and experienced managers who can give signals to the borrowers of the good condition of the business, and the projects it presents. Identifying the factors that facilitate access to credit for companies will help them to improve their competitiveness, as well as government agencies to know what policies to develop to facilitate access to credit and greater efficiency of the financial system Salustiano Eduardo Rocca Espinoza Antonio Duréndez Gómez-Guillamón ##submission.copyrightStatement## 2017-07-01 2017-07-01 3 1 11 34 10.26784/sbir.v1i1.3 Why do SMEs outsource their accounting and fiscal tasks? Our study tries to identify the most relevant reasons that move small Spanish companies to outsource the tasks of accounting and tax preparation, and what has really led them to make that decision. The identification of these motives allows us to evaluate the strategic or tactical approach that this decision makes in the small companies and independent entrepreneurs. Based on the approaches of the Theory of Economic Transaction Costs (TCE) and the Resource-Based View (RBV), a set of reasons are defined for outsourcing and we test whether or not the company has acted consistently with these Perceptions. The fear of possible economic sanctions is revealed as the main reason that leads small businesses to outsource accounting and tax preparation tasks. Those who fear sanctions but do not outsource, do so for economic reasons. This is produced by the perception that such tasks are considered as administrative and not as fundamental for decision making, so that, before them, they take a more tactical approach (close to the TCE) than strategic (more tipycal of the RBV) Javier Orti Baquerizo ##submission.copyrightStatement## 2017-07-01 2017-07-01 3 1 71 87 10.26784/sbir.v1i1.4 Relational Administration through e-tutoring to help new companies This article briefly systematizes some of the contributions of the Relational Administration that organizer as non-economic assistance to entrepreneurs can be facilitated by public administrations. It focuses on the main contributions that appear through the e-tutoring or management of private professionals and the predictable institutional modernization that reverts to a management support; serving in turn of incentive to the creation of new companies. Also, some conclusions are given on the opinion of the entrepreneurs before a process of improvement of the state intervention space considering outsourcing a source of utility through the private professionals. Statistical confirmation of the hypotheses was carried out a regression model; and the data came from 138 companies in Spain were used. As future lines of research, an additional study analyzing the interrelation of independent variables in PYMES and large companies could help to improve the rigor of the results obtained in this work Francisco Acosta Hernandez Antonio Juan Briones Peñalver Francisco Campuzano Bolarín ##submission.copyrightStatement## 2017-07-01 2017-07-01 3 1 35 52 10.26784/sbir.v1i1.5 Competitive advantages in manufacturing companies as a result of production systems and innovation Is so important for the manufacture organizations, to get in this moment some special characteristics for clearly establish, differences between them and the competition. So is important to advance in their development, and demonstrate the strength of this company for compete and success; even in adverse times; the objective of this research is, to determine if the development of competitive advantages to have relation, whit the production systems situation as well as the innovation, in manufacturer companies in Aguascalientes, México. This research did show that in this moment, the advantages development, in influenced against the production systems and the innovation in the manufacture factories Salomón Montejano García Rocio Montserrat Campos García Ricardo García Ramírez ##submission.copyrightStatement## 2017-07-01 2017-07-01 3 1 53 70 10.26784/sbir.v1i1.7