RISK UNVEILED: A COMPREHENSIVE ANALYSIS OF FINANCIAL BUSINESS RISKS IN CALI'S DYNAMICS
Abstract
Small and medium enterprises (SMEs) play a pivotal role in economies worldwide, comprising a significant majority of business networks. In Colombia, for instance, SMEs constitute approximately 94% of the enterprise system, driving economic activity. However, despite their importance, these enterprises often lack the necessary support to thrive. Recent governmental policies have sought to address this issue by promoting SME development through loans and assistance programs.
This research addresses the pressing need to understand the risks faced by SMEs, a topic that has received limited attention. Additionally, many SMEs lack dedicated financial departments, making it challenging to monitor risk indicators effectively and make informed decisions to mitigate risks. Our study aims to provide evidence-based insights to help SMEs internalize processes for balancing risk indicators and achieving better risk control.
The study also recognizes the impact of globalization, financial volatility, and uncertainty on SMEs, emphasizing the importance of continuous improvement in various sectors of the economy. Furthermore, it highlights the role of consultants in diagnosing organizational issues and optimizing indicators, potentially leading to product/service diversification and enhanced profitability
Keywords:
: Small and Medium Enterprises (SMEs),, Risk Management, Financial Indicators, Globalization, Value Creation.Downloads
Published
Issue
Section
How to Cite
License
Copyright (c) 2023 Dr. Maria E, Gomez Rios, Dr. Carlos A. Rodriguez Gaviria
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
References
ALTMAN, Edward (2002). The Z-score formula for predicting bankruptcy was published in 1968 by Edward I. Altman, who was, at the time, an Assistant Professor of Finance at New York University Bankruptcy, Credit Risk and High Yield ‘Junk’ Bonds: A Compendium of Writings. Oxford, England and Malden, Massachusetts: Blackwell Publishing.
ÁVILA Bustos, Juan Carlos Ávila (2005). Medición y control de riesgos financieros en empresas del sector real. Bogotá.
BALLESTEROS Navarro, Juan Andrés y LOPEZ, Herrera Diego (2009). Propuesta de un modelo simplificado de detección del riesgo empresarial: estudio empírico aplicado al sector de la construcción (Pymes). Revista Iberoamericana de Contabilidad y Gestión. Pág. 1-27. España.
HINCAPIÉ Piñeres, Javier Eduardo (2007). Análisis de riesgo financiero para la micro, pequeña y mediana empresa del sector metalmecánico. Manizales.
JORION, Phillipe (2001). Valor En Riesgo. Ed. Mc Graw Hill, 2ª ed.
Miller, Merton H.(1994) Financial innovations and market volatility. Journal of Applied Economics, Nueva York,Número 4 (vol.1 1), p6gs. 205 a 210
San-Martín-Albizuri, N. & Rodríguez-Castellanos, A. (2011). La imprevisibilidad de las crisis: un análisis empírico sobre los índices de riesgo país. Innovar, 21(39), 161-178.
TORO D., Jairo (2012). "Las decisiones financieras en las gerencias de las PYMES. Estudio de caso - San Juan Pasto -
Colombia ", Revista digital OBSERVATORIO DE LA ECONOMIA LATINOAMERICANA, Nº 163, indexada en IDEAS-RePEc, recuperado de http://www.eumed.net/cursecon/ecolat/co/
TORO D., Jairo (2009). FINANCIAL DECISIONS OF MANAGERS OF PYMES IN MANIZALES. JOURNAL INTERNATIONAL OF BUSISNESS AND FINANCE, Vol. 4 (No. 2), p. 804-809. Recuperado de http://www.theibfr.com/ARCHIVE/ISSN-1941-9589-V4-N2-2009.pdf
Tudela& G. Young (2005). "A Merton-Model Approach To Assessing The Default Risk Of Uk Public Companies, "International Journal of Theoretical and Applied Finance (IJTAF), World Scientific Publishing Co. Pte. Ltd., vol. 8(06), pp 737-761.
WOLF, Martin. Why Globalization Works, Yale University Press, ISBN 0 – 300 – 10252 - 6.
ZORRILLA Salgado, Juan Pablo (2003). La administración de riesgos financieros en las Pymes de exportación en contribuciones a la economía. Veracruz
