STUDENTS SHOULD BE ABLE TO APPLY THE KNOWLEDGE PREVIOUSLY ACQUIRED ABOUT ENTREPRENEURSHIP CONCEPTS AND TO DEVELOP A PILOT-SCALE ENTREPRENEURSHIP PROJECT, CONSIDERING ALL ASPECTS TO DEVELOP AN ENGINEERING PROJECT. FOR THIS TASK, THEY MUST UNDERSTAND THE PROBLEMS FACED BY AN ENTREPRENEUR WHEN STARTING A COMPANY, MAKING A THOROUGH ANALYSIS OF THE MOST COMMON MISTAKES THAT ARE MADE, AND EXPLORING THE COMPONENTS THAT ALLOW US TO DEFINE A BUSINESS MODEL, INCLUDING THE MOST COMMON FORMATS AND KEY COMPONENTS, AS WELL AS HOW TO DESIGN AND RETHINK THEM. IT IS ESSENTIAL TO UNDERSTAND THE NEW COMPANY AS AN INTEGRATED WHOLE AND THE RELATIONSHIPS BETWEEN ITS COMPONENTS. IT IS ALSO RELEVANT TO UNDERSTAND THE ASPECTS ASSOCIATED WITH THE CREATION OF NEW COMPANIES IN A MORE AGILE AND CLOSE WAY TO THE CUSTOMER. WHEN CREATING A COMPANY, YOU DO NOT KNOW WHAT THE CUSTOMER?S RESPONSE WILL BE, SO BUILDING A PRODUCT OR SERVICE BASED ON A HYPOTHESIS ALWAYS INVOLVES A HIGH LEVEL OF RISK. THEREFORE, IT IS NECESSARY TO CREATE A COMPANY BASED ON CUSTOMER FEEDBACK, INSTITUTIONALIZING LEARNING AS AN AUTHENTIC GUIDE TO STARTUP DEVELOPMENT. IN THE PROPOSED METHODOLOGY, THE STUDENT IS SUPPORTED IN ALL THIS WORK THROUGH EXPLANATORY-ILLUSTRATIVE CLASSES AND COLLABORATIVE WORK, SUPPORTING THEM THROUGH THE DEVELOPMENT OF GUIDANCE THAT ALLOWS THEM TO IDENTIFY BUSINESS OPPORTUNITIES STEP-BY-STEP USING DIFFERENT TOOLS TO MOVE FROM ANALYSIS TO MARKET VALIDATION THAT CORRESPONDS TO THE NEW BUSINESS IDEA. STEPS INCLUDE THE ANALYSIS OF THE TECHNOLOGIES ASSOCIATED WITH THE BUSINESS IDEA; THE APPLICATION OF METHODOLOGIES FOR MARKET RESEARCH; SPECIALIZED READINGS; THE RECOGNITION OF THE DIFFERENT FORMS OF COMPANIES; THE IDENTIFICATION OF COMMERCIAL, TECHNICAL, AND FINANCIAL COMPONENTS; THE CREATION OF PROTOTYPES; AND THE CONSIDERATION OF DIFFERENT SOURCES OF FINANCING AVAILABLE IN THE MARKET. WITH ALL THE ABOVE, A COMPLETE BUSINESS MODEL MUST BE FORMULATED, WITH ALL THE ASSOCIATED SUPPORT PROJECTS, FOR THE FORMA

TIS PAPER ADDRESSES A METHOD TO SOLVE A MULTI-PERIOD PORTFOLIO SELECTION ON THE STOCK MARKET. TE PORTFOLIO PROBLEM SEEKS AN INVESTOR TO TRADE STOCKS WITH A FNITE BUDGET AND A GIVEN INTEGER NUMBER OF STOCKS TO HOLD IN A PORTFOLIO. TE TRADE MUST BE PERFORMED THROUGH A STOCKBROKER THAT CHARGES ITS RESPECTIVE TRANSACTION COST AND HAS ITS MINIMUM REQUIRED TRADE AMOUNT. A MATHEMATICAL MODEL HAS BEEN PROPOSED TO DEAL WITH THE CONSTRAINED PROBLEM. TE OBJECTIVE FUNCTION IS TO FND THE BEST RISK-RETURN RATE; THUS, SHARPE RATIO AND TREYNOR RATIO ARE USED AS OBJECTIVE FUNCTIONS. TE RETURNS ARE THE SAME FOR THESE RATIOS, BUT THE RISKS ARE NOT SHARPE CONSIDERING COVARIANCE AND TREYNOR SYSTEMATICAL RISK. TE RETURNS ARE PREDICTED USING A NEURAL NET WITH LONG-SHORT-TERM MEMORY (LSTM). TIS NEURAL NET IS COMPARED WITH SIMPLE FORECASTING METHODS THROUGH MEAN ABSOLUTE PERCENTAGE ERROR (MAPE). COMPUTATIONAL EXPERIMENTS SHOW THE QUALITY PREDICTION PERFORMED BY LSTM. TE HETEROSKEDASTIC RISK IS ESTIMATED BY GENERALIZED AUTOREGRESSIVE CONDITIONAL HETEROSKEDASTICITY (GARCH), ADJUSTING THE VARIANCE FOR EVERY PERIOD; THIS RISK MEASURE IS USED IN SHARPE RATIO. TE EXPERIMENT CONTEMPLATES A WEEKLY PORTFOLIO SELECTION WITH 5 AND 10 STOCKS IN 122 WEEKLY PERIODS FOR EACH CHILEAN MARKET RATIO. TE BEST PORTFOLIO IS SHARPE RATIO WITH TEN STOCKS, PERFORMING A 62.28% REAL RETURN BEATING THE MARKET, REPRESENTED BY THE SELECTIVE STOCK PRICE INDEX (IPSA). EVEN THE WORST PORTFOLIO, TREYNOR RATIO, OVERCOMES THE IPSA CUMULATIVE YIELD WITH TEN STOCKS.

THE DETERMINANTS OF CORPORATE BOND CREDIT SPREADS ARE INVESTIGATED IN CHILE AS AN EXAMPLE OF AN EMERGING MARKET WITH RELATIVELY FEW ACTORS AND THIN TRADING. BOTH MARKET-LEVEL AND FIRM-LEVEL FACTORS ARE CONSIDERED. THREE MODELS PREVIOUSLY USED TO ANALYZE THE HIGHLY DEVELOPED US MARKET ARE APPLIED TO CHILEAN INFLATION-INDEXED BOND TRADE DATA, AND THE RESULTS FOR THE TWO MARKETS ARE COMPARED. THE DETERMINANTS FOUND TO BE SIGNIFICANT FOR CHILE FORM THE BASIS FOR THE DESIGN OF A NEW MULTIFACTOR REGRESSION MODEL THAT IS USED TO EXPLAIN CHILEAN BOND SPREADS. THE RESULTS ARE EVALUATED WITH AN OUT-OF-SAMPLE TEST, AND THE ROOT-MEAN-SQUARE ERROR IS CALCULATED TO COMPARE THE MODEL?S RESULTS WITH THOSE OBTAINED BY THE METHOD COMMONLY APPLIED IN ILLIQUID MARKETS BY REPEATING THE LAST RECORDED TRANSACTION FOR DAYS ON WHICH NO DATA ARE AVAILABLE. THE PROPOSED FORMULATION IS FOUND TO REDUCE THE DEGREE OF ERROR.

LA PRESENTE INVESTIGACIÓN TIENE COMO OBJETIVO COMPROBAR SI CARACTERÍSTICAS DE LA COMPOSICIÓN DEL DIRECTORIO, TALES COMO PORCENTAJE DE MUJERES, INDEPENDENCIA DEL DIRECTORIO O TAMAÑO Y CONCENTRACIÓN DE PROPIEDAD DEL MERCADO INTEGRADO LATINOAMERICANO (MILA), CONTRIBUYEN EN EL DESEMPEÑO ECONÓMICO DE LAS EMPRESAS. COMO MEDIDAS DE DESEMPEÑO SE UTILIZARON LOS INDICADORES ROA, ROE Y Q DE TOBIN. ESTE ESTUDIO UTILIZA ANÁLISIS DE REGRESIÓN CON DATOS DE PANEL MEDIANTE EL MODELO TOBIT, CON PANELES DINÁMICOS Y ESTÁTICOS CON EFECTOS FIJOS A UNA MUESTRA DE 83 EMPRESAS. SE ENCONTRÓ EVIDENCIA DE QUE EL TAMAÑO DEL DIRECTORIO Y LA CONCENTRACIÓN DE LA PROPIEDAD INFLUYEN EN EL DESEMPEÑO DE LAS EMPRESAS.