Special Article Introduction Hematopoietic stem cell transplantation is the only curative treatment for many disorders and international data shows a growing trend. Method We aimed to evaluate the temporal trends in HSCT transplant rates in Argentina. A time-series analysis was performed for the period 2009 to 2018 using the national database from the National Central Coordinating Institute for Ablations and Implants. Crude and standardized transplant rates were calculated. A permutation joinpoint regression model analysis was used to identify significant changes over time. Results Altogether, 8,474 transplants were reported to INCUCAI by 28 centers (autologous 67.5%); the main indication was multiple myeloma (30%). The WHO age-sex standardized HSCT rates for the entire country were 153.3 HSCT/10 million inhabitants (95% CI 141.7-165.8) in 2009 and 260.1 HSCT/10 million inhabitants (95% CI 245.5-275.5) in 2018. There was a large gap in HSCT rates among the states and regions. The transplant rate was higher for autologous transplants throughout the years. Within the allogeneic group, the related donor transplant rate was higher than the unrelated donor transplant rate. The joinpoint regression analysis of HSCT rates for the whole country over time showed an observed annual percentage change of 6.3% (95% CI 5.4-7.3; p< 0.01). No changes were observed for unrelated donors during the study period. Conclusions Age-sex standardized HSCT rates in Argentina are increasing, mainly due to autologous and family donor allogeneic transplants. A wide variation across the country was found, demonstrating differences in the access to transplantation among Argentine regions.

Resumen: El objetivo de este estudio es determinar la frecuencia de eventos adversos de la vacunación contra el COVID-19 en pacientes con LES que son atendidos en centros médicos de referencia en Paraguay. Este es un estudio observacional, transversal, descriptivo. Se incluyeron 52 pacientes con LES que recibieron al menos una dosis de la vacuna anticovid. De los cuales el 100% recibieron la primera dosis, el 92,3% la segunda dosis y el 15,38% la tercera dosis; el 44,6% recibió Sputnik-V; 16% Moderna; 12,5% Pfizer, 7,1% AstraZeneca, 3,6% Covaxin y 2,1% Hayat Vax, 8 pacientes recibieron su tercera dosis correspondiente a 3 de Pfizer, 3 de Moderna, 2 de AstraZeneca. En las 108 dosis aplicadas se registraron un total de 43 evento advserso, el 95,3% dentro de los primeros 5 días y el resto a los 5 días. El 51,2% presentó el evento advserso tras la primera dosis, el 39,5% tras la segunda dosis y el 9,3% tras la tercera dosis. La duración media de los síntomas fue de 2,3 días ±1,4. El efecto adverso más importante fue el dolor en el sitio de inyección, seguido de fiebre y fatiga. La exacerbación del LES también se registró como evento advserso en el 8,3%. Se registraron efectos adversos leves, se concluye que vacunación contra COVID-19 es segura para pacientes con LES.

Abstract: The aim of this study is to determine the frequency of adverse events of COVID-19 vaccination in patients with SLE who are attended at referral medical centers in Paraguay. This is an observational, cross-sectional, descriptive study. Fifty-two patients with SLE who received at least one dose of anticovid vaccine were included. Of which 100% received the first dose, 92.3% the second dose and 15.38% the third dose; 44.6% received SputnikV; 16% Moderna; 12.5% Pfizer, 7.1% AstraZeneca, 3.6% Covaxin and 2.1% Hayat Vax, 8 patients received their third dose corresponding to 3 from Pfizer, 3 from Moderna, 2 from AstraZeneca. In the 108 doses applied, a total of 43 adverse events were recorded, 95.3% within the first 5 days and the rest at 5 days. A total of 51.2% presented the adverse event after the first dose, 39.5% after the second dose and 9.3% after the third dose. The mean duration of symptoms was 2.3 days ±1.4. The most important adverse effect was pain at the injection site, followed by fever and fatigue. Exacerbation of SLE was also recorded as an adverse event in 8.3%. Mild adverse effects were recorded, it is concluded that vaccination against covid 19 is safe for patients with SLE.

Abstract Glycogen storage disease type I is an autosomal recessive disorder of carbohydrate metabolism that manifests mainly by hepatomegaly and hypoglycemia with short fasts. Despite strict therapy, patients present long-term renal and liver complications. Data of 36 patients,29 GSD Ia and 7 Ib from a high complexity Hospital in Argentina was collected retrospectively. Collected data included diagnosis, anthropometric, biochemical parameters, therapy and follow-up. Treatment increased Height SDS (p=0.012). Patients with good adherence to therapy presented better growth parameters (p=0.049). Instead, admissions were detrimental (p =0.031) and were more common in Ib patients (p=0.002). The early appearance of complications (liver adenomas and nephropathy) was related to sustained triglyceride values > 500mg / dl (p=0.009 and 0.046 respectively). With intensive dietary treatment, clinical and biochemical status improves but cannot be completely corrected in most patients. Growth improves with treatment and this is optimized with adequate adherence. We must take into account that with ageing, more complications will develop.

ABSTRACT This study aims to analyze the evolution of financial structure in Technology-Based Micro, Small and Medium-Sized Enterprises (MSMEs) throughout their business cycle. The papers analyzing financial structure in Technology-Based MSMEs focus on developed countries, with strong institutional environments, economic stability, and developed financial markets. This study contributes to bridging the literature gap in knowledge regarding financial structure in Technology-Based MSMEs in economies with small and underdeveloped financial markets and those with recurring economic crises. These issues intensify the limitations of access to financing for these companies and their potential growth. The importance of Technology-Based companies not only lies on their contribution to economic growth, but they are regarded as channels through which scientific knowledge is applied to products, processes, and services, improving the quality of life of society as a whole. The results evidenced in this study indicate the need to devise policies focused on encouraging access to funding in the various stages of the business cycle of Technology-Based MSMEs. A database with 89 Argentine Technology-Based MSMEs is used, applying an Ordered Logit model to analyze the variables affecting financial diversification in these companies. The results confirm the predictions of the financial growth cycle of small business theory, which argues that company size and age affect the probability of diversifying the financial structure. At the same time, this work found that these variables have a different effect depending on the stage in life cycle that a company is going through.

RESUMEN El objetivo de este trabajo es analizar la evolución de la estructura financiera de las micro, pequeñas y medianas empresas (MiPyMEs) de Base Tecnológica a lo largo de su ciclo de negocio. Los trabajos que analizan la estructura financiera de las MiPyMEs de Base Tecnológica se centran en países desarrollados, con fuertes entornos institucionales, estabilidad económica y mercados financieros desarrollados. Este trabajo contribuye a cubrir el vacío de la literatura sobre el conocimiento de la estructura financiera de las MiPyMEs de Base Tecnológica en economías con mercados financieros pequeños y poco desarrollados, y con crisis económicas recurrentes. Dichos problemas intensifican las limitaciones de acceso al financiamiento de estas empresas y a su potencial crecimiento. La importancia de las empresas de Base Tecnológica no solo radica en su aporte al crecimiento económico, sino que se consideran como canales por los cuales transita el conocimiento científico hacia productos, procesos y servicios, mejorando la calidad de vida de la sociedad en su conjunto. Los resultados evidenciados en este trabajo indican la necesidad de diseñar políticas centradas en incentivar el acceso al financiamiento en las distintas etapas del ciclo de negocios de las MiPyMEs de Base Tecnológica. Se utiliza una base de datos de 89 MiPyMEs de Base Tecnológica argentinas, aplicando un modelo Logit Ordenado para analizar las variables que afectan la diversificación financiera de estas empresas. Los resultados confirman las predicciones de la Teoría del Ciclo Financiero de Crecimiento de la Empresa, la cual sostiene que el tamaño y la antigüedad de la empresa afectan la probabilidad de diversificar la estructura financiera. A su vez, se encuentra que dichas variables tienen un efecto dispar en función de la etapa del ciclo de vida que la empresa esté transitando.

RESUMEN Los deslizamientos de tierra inducidos por lluvia representan un riesgo significativo para las comunidades y la infraestructura. Para mejorar la predicción de tales eventos, es imperativo investigar adecuadamente la dinámica generada por la lluvia que conduce a la fluidización, así como, cualquier deslizamiento interno que esté asociado y que se desarrolle a lo largo de los planos de falla dentro de los taludes arcillosos. Por lo tanto, para medir la variación estacional de la elipticidad de la onda Rayleigh, como un indicador de la deformación interna y de la transición del estado del material, el presente estudio adoptó la Relación Espectral Horizontal a Vertical (REHV) basada en el ruido ambiental. La técnica fue aplicada en un área de deslizamiento existente, donde se esperaba que ocurrieran variaciones en la rigidez del suelo y deslizamientos internos debidos a la lluvia. Para mejorar la interpretación de los resultados de la REHV y, por tanto, la predicción del deslizamiento generado por lluvia, la REHV fue calibrada en campo en una prueba de carga en pilote. La prueba en el permitió una comparación de los datos sísmicos generados por el movimiento del suelo a lo largo de los planos de falla. Las curvas REHV de esta prueba de campo mostraron dos picos de frecuencia sin cambios en la de la resonancia. En comparación con los datos obtenidos del deslizamiento de tierra, las curvas REHV resultantes mostraron tres patrones de frecuencia: ubicuo (2Hz), deslizamiento de tierra (4-8Hz) y plano (sin pico). Debido a que la recopilación de datos fue relativamente corta, las curvas REHV no mostraron ninguna respuesta a las variaciones estacionales inducidas por el deslizamiento de tierra. Sin embargo, la obtención de curvas REHV en un periodo de tiempo es una técnica prometedora que puede complementar otros métodos geofísicos para mejorar el monitoreo de deslizamientos de tierra.

ABSTRACT Rainfall-induced landslides pose a significant risk to communities and infrastructures. To improve the prediction of such events, it is imperative to adequately investigate the rainfall-dependent dynamics (leading to fluidization) and any associated internal sliding along shear planes within clayey slopes. Therefore, the present study adopted ambient noise analysis based on the Horizontal to Vertical Spectral Ratio (HVSR) method, to measure the seasonal variation of Rayleigh wave ellipticity as an indicator for the internal deformation and transition in the material state. The methodology was applied to an existing landslide, where variations in soil stiffness and internal sliding were expected to occur in response to rainfall. To improve the interpretation of the HVSR results (and hence the prediction of landslide' reactivation by rainfall), HVSR measurements were also conducted on a field-scale pile load test. The pile test allowed a comparison of the seismic data generated by the soil movement along shear planes. The HVSR curves of this field test showed two frequency peaks with no changes in the resonance. In comparison with the data obtained from the landslide, the resultant HVSR curves showed three frequency patterns: ubiquitous (2Hz), landslide (4-8Hz), and flat (no peak). However, the HVSR curves did not show any response to the expected seasonally induced variations in the landslide mass because of the relatively short data acquisition. Nevertheless, time-lapse HVSR is a promising technique that can complement other geophysical methods for improving landslide monitoring.

Abstract The effect of the cooling rate and the dilution in overlay welds with a duplex stainless steel, on a commercial low carbon steel sheet, by means of the semi-automatic welding process with shielding gas was studied. To study the effect of cooling rate and dilution, coupons were welded with 0.6; 0.9 and 1.8 kJ/mm (keeping the electrical parameters constant and varying the welding speed) with one and two layers. On the welded specimens, the chemical composition was measured, the phase content was quantified and the precipitation of intermetallic compounds was observed by optical microscopy, scanning electron and X-ray diffraction. The results show that, in the coupons welded with one layer, as the heat input increases, the ferrite content increases associated with the dilution decrease. On the other hand, in coupons welded with two layers (with low dilution values), the ferrite content decreases, associated with the cooling rate and the longer time available for the transformation of ferrite into austenite. The microstructural balance in Corrosion Resistance Alloy Overlay Welding with duplex stainless steels is controlled, mainly, by the degree of dilution for one layer and the heat provided for two layers.

Resumen Se estudió el efecto de la velocidad de enfriamiento y de la dilución en soldaduras de recubrimiento con un acero inoxidable dúplex, sobre una chapa de acero de bajo contenido de carbono, mediante el proceso de soldadura semiautomático con protección gaseosa. Para estudiar dichos efectos, se soldaron cupones con 0,6; 0,9 y 1,8 kJ/mm (manteniendo constante los parámetros eléctricos y variando la velocidad de soldadura) con una y dos capas. Se midió la composición química, se cuantificó el contenido de fases y se observó la precipitación de compuestos intermetálicos mediante microscopía óptica, electrónica de barrido y difracción de rayos X. Los resultados muestran que, en los cupones soldados con una capa, al aumentar el calor aportado, el contenido de ferrita aumenta asociado a la disminución de la dilución. Por otro lado, en los cupones soldados con dos capas (con bajos valores de dilución), el contenido de ferrita disminuye, asociado a la velocidad de enfriamiento y al mayor tiempo disponible para la transformación de ferrita en austenita. El equilibrio microestructural en recargues resistentes a la corrosión con aceros inoxidables dúplex está controlado, principalmente, por el grado de dilución para una capa y por el calor aportado para dos capas.

Resumen La inclusión financiera definida como el nivel de acceso y uso de servicios financieros constituye un tema incipiente en la literatura y de gran importancia para el desarrollo de sistemas económicos estables e inclusivos. El presente estudio propone analizar la forma en que se agrupan un conjunto de países de América Latina y Europa en cuanto a sus niveles de inclusión financiera y la trayectoria de estos grupos en los años 2011, 2014 y 2017, utilizando los datos de la base Global Findex. El método de análisis es de clúster jerárquicos. Se observa la persistencia de dos grandes conglomerados de países, de alta y baja inclusión financiera, y algunos grupos más dinámicos, con niveles intermedios de acceso y uso de servicios financieros. Mientras que el grupo de alta inclusión financiera, integrado por la mayoría de los países de Europa, se ha mostrado más homogéneo a través de los años, la agrupación de los países de América Latina ha sido más dinámica. Aquellos países que han implementado políticas públicas integradas, en cuanto a la promoción y financiación de la inclusión financiera, se han destacado por una mejor trayectoria en estos años. JEL: G23; O16; O17; C38; N26; N24.

Abstract Financial inclusion is defined as the level of access and use of financial services and is an incipient subject in literature. It is of major importance in the development of sustainable and inclusive economic systems. The present study aims to analyze the way in which a group of Latin American and European countries are clustered together in terms of their levels of financial inclusion and the performance of these groups between 2011, 2014 and 2017, using data from the Global Findex database. The analysis method is hierarchical clustering. It is observed that there are two large groups of countries, one of high and another of low financial inclusion, and some other more dynamic groups with intermediate levels of access and use of financial services. While the group with high financial inclusion, formed by most of the European countries, has been more homogeneous over the years, the clustering of Latin American countries has been more dynamic. Those countries that have implemented integrated public policies, in terms of the promotion and funding of financial inclusion, have had a remarkably better performance in these years. JEL: G23; O16; O17; C38; N26; N24.

RESUMEN: El objetivo de este trabajo es evaluar las decisiones de financiamiento de dos subsectores específicos del segmento de tecnologías de la información y la comunicación (TIC): el de desarrollo de videojuegos (VC) y el de software y servicios informáticos (SSI). Los datos utilizados incluyen 80 empresas argentinas relevadas durante el 2017. Los resultados muestran que la fuente principal de financiamiento en las diferentes etapas del ciclo de negocio son los fondos propios para todas las empresas de la muestra. Sin embargo, la participación de dichos fondos se reduce a medida que las empresas transitan las etapas de start up y de crecimiento. Además, se encuentra que la tipología de las fuentes externas con las que sustituyen el financiamiento propio difiere de acuerdo con el subsector analizado. En la etapa de start up, las empresas de SSI sustituyen fondos propios por subsidios públicos, a diferencia de las empresas de VC que utilizan el financiamiento de prestamistas privados. En la etapa de crecimiento, las empresas de SSI utilizan en mayor proporción financiamiento bancario, y las empresas de VC, subsidios públicos.

RÉSUMÉ: Le but de ce travail est d'évaluer les décisions de financement de deux sous-secteurs spécifiques du secteur des technologies de l'information et de la communication (TIC): celui du développement de jeux vidéo (VC) et de logiciels et celui des services informatiques (SSI). Les données utilisées incluent 80 entreprises argentines interrogées en 2017. Les résultats montrent que la principale source de financement aux différentes étapes du cycle économique est constituée par les fonds propres de toutes les entreprises de l'échantillon. Toutefois, la participation de ces fonds se réduit au fur et à mesure que les entreprises franchissent les étapes de démarrage et de croissance. En outre, on a constaté que la typologie des sources externes avec lesquelles elles remplacent leur propre financement diffère selon le sous-secteur analysé. Au stade du démarrage, les sociétés SSI substituent leurs fonds propres à des subventions publiques, contrairement aux sociétés VC qui utilisent des financements de prêteurs privés. Au stade de la croissance, les entreprises SSI ont davantage recours au financement bancaire et les entreprises VC aux subventions publiques.

ABSTRACT: This work seeks to evaluate the financing decisions of two specific subsectors of the information and communication technologies (IGT) segment: video games development (VC) and software and computer services (SCS). The data used includes 80 Argentinian companies surveyed during 2017. Results show that the main financing source at the different stages of the business cycle is the company's own funds for all the businesses in the sample. However, the participation of these funds is reduced as companies go through the start-up and growth stages. In addition, it is found that the typology of external sources with which they replace their own financing differs according to the subsector. In the start-up stage, SCS companies substitute their own funds for public subsidies, unlike VC companies, which use financing from private lenders. In the growth stage, SCS companies use bank financing to a greater extent, while VC companies request public subsidies.

RESUMO: O objetivo deste trabalho é avaliar as decisões de financiamento de dois subsetores específicos do setor de tecnologias da informação e da comunicação (TIC): o desenvolvimento de videogames e o de software e serviços informáticos (SSI). Os dados utilizados incluem 80 empresas argentinas e foram levantados durante 2017. Os resultados mostram que a fonte principal de financiamento nas diferentes etapas do ciclo de negócio são os fundos próprios para todas as empresas da amostra. Contudo, a participação desses fundos é reduzida à medida que as empresas passam pelas etapas de start up e de crescimento. Além disso, verifica-se que a tipologia das fontes externas com as quais substituem o financiamento próprio difere de acordo com o subsetor analisado. Na etapa de start up, as empresas de SSI substituem fundos próprios por incentivos públicos, à diferença das empresas de videogames que utilizam o financiamento de organismos de crédito privados. Na etapa de crescimento, as empresas de SSI utilizam, em maior proporção, financiamento bancário, e as empresas de videogames, incentivos públicos.

Abstract Reactivation of a landslide is usually accompanied by microseismic signals emitted from the deforming soil mass. The reproduction of similar signals in a physical model test conducted under control conditions can allow researchers to explore and test such complicated signals to improve the prediction of full-scale failure. The present study investigates the similarity between the slidequakes (microseismicity) naturally emitted from an existing colluvial landslide (Sobradinho, Brazil) in response to rainfalls and the emissions generated by a pullout test of an expander body (EB) pile in tropical soil under controlled conditions. The microseismic signals emitted from both experimental sites (i.e. the landslide and the EB pile test) were recorded and compared. Data were acquired by mini-arrays of four short-period seismometers. For the signal nomenclature, a typological scheme was adopted, in which sonograms/spectral contents of the signals were used. As a result, short duration microseismic signals were observed during the pullout test. In contrast, at the Sobradinho landslide, the testing detected signals of different characteristics whose source mechanisms have remained ambiguous, mainly because of the short duration of the data campaigns. However, at the landslide, propagating events were observed that might be attributed to the energies generated by the river bedload during the heavy rains. The present study offers some insight into the pre-collapse dynamic behavior of unstable slopes in clayey formations.

Abstract The application of geophysical monitoring technologies may offer an opportunity to understand the dynamic of slopes in response to factors triggering their instability. In this study, Ambient Noise Interferometry was used as a monitoring approach on a man-made reduced-scale vertical slope and on a natural-scale landslide in Sobradinho (Brazil), under the influence of mechanical stress and rainfall, respectively. For both experiments, we adopted similar data acquisition system and processing workflow. After preprocessing of ambient seismic noise, the time-lapse changes were determined in terms of relative velocity changes using the moving window cross spectral technique. For the vertical slope, terrestrial laser scanning was also performed to detect crack or fissure generation. The prototype experiment results showed a decreasing trend of relative velocity changes and reached a minimum value of -0.6% at the end of the experiment. No change was detected on the digital elevation model that was computed from terrestrial laser scanning images, due to the absence of centimeter scale superficial fissures. At natural scale (Sobradinho landslide), no significant variation in relative velocity changes was detected for the rainy and non-rainy days, mainly because of the inadequate change in the degree of saturation, which was found within a relatively short period of data acquisition.

RESUMO O volume de madeira das árvores em pé é uma informação essencial para as decisões de gestão. A crescente necessidade de otimizar a capacidade potencial das florestas mantendo sua conservação, requer a quantificação dos diferentes possíveis produtos de madeira possíveis. O objetivo era ajustar equações de afilamento para determinar volumes de diferentes produtos de madeira para hastes comerciais de Nothofagus alpina e N. obliqua. As árvores de ambas as espécies foram selecionadas ao acaso nas áreas de colheita do Parque Nacional Lanin (Argentina). As árvores foram derrubadas e cortadas em troncos comerciais, medindo o diâmetro com a casca em diferentes alturas até o início da coroa, e para cada árvore o diâmetro na altura do peito e altura total. Foram selecionadas cinco equações cônicas e foram empregados processos de regressão não-linear para ajustar. Obtivemos o volume através da integração da equação do perfil do caule e da rotação no seu espaço através do sólido da revolução. O modelo de Bennet e Swindel (1972) foi selecionado para as duas espécies de Nothofagus, obtendo parâmetros de equação semelhantes e observando-se diferenças no topo das hastes de árvores maiores. Portanto, o uso de um modelo integrado não é recomendado. Com as equações obtidas é possível: (i) estimar o volume em diferentes alturas e para diferentes diâmetros comerciais, e (ii) prever a altura em que ambas as espécies atingem um determinado diâmetro. O modelo apresentou algumas limitações estatísticas (por exemplo, multicolinearidade), no entanto, o ajuste da equação e a compreensão fácil das saídas o suportam como uma ferramenta útil em uma ampla gama de aplicações florestais.

ABSTRACT Timber volume of standing trees is essential information for management decisions. The increasing need to optimize the potential capacity of forests maintaining their conservation, requires the quantification of the different potential possible timber products. The aim was to adjust taper equations to determine volumes of different timber products for commercial stems of Nothofagus alpina and N. obliqua. Trees of both species were randomly selected in harvesting areas of Lanin National Park (Argentina). Trees were felled and cut into commercial logs, measuring diameter with bark at different heights up to the beginning of the crown, and for each tree the diameter at breast height and total height. Five taper equations were selected and non-linear regression processes were employed for the fittings. We obtained the volume through the integration of the stem profile equation and the rotation in the space thereof through solid of revolution. The Bennet and Swindel (1972) model was selected for both Nothofagus species, obtaining similar equation parameters and differences were observed at the top of the stems of larger trees. For this the use of an integrated model is not recommended. With the obtained equations it is possible to: (i) estimate volume at different heights and for different commercial diameters, and (ii) predict the height at which both species reach to a certain diameter. The model presented some statistical limitations (e.g. multicollinearity), however, the fitting of the equation and the easy understanding of the outputs support it as a useful tool in a broad range of forest applications.

RESUMEN El objetivo de este trabajo es analizar el efecto del grado de intensidad tecnológica asociado a las Pymes en el acceso al financiamiento. Por lo tanto, se estima un modelo Logit ordenado considerando un conjunto de variables independientes como el tamaño de la empresa, la antigüedad, la capacidad exportadora y la intensidad tecnológica asociada al sector. Los resultados obtenidos muestran que la intensidad tecnológica de la empresa resulta ser la variable que más impacta en la probabilidad de financiarse en el sector bancario. Esta conclusión es relevante para Argentina, dado que, a diferencia de otros países emergentes, las empresas no cuentan con instrumentos alternativos al financiamiento bancario que se adapten a las características propias de las Pymes de alta tecnología.

ABSTRACT The aim of this paper is to analyze whether the technological intensity level associated with the company affects financial access. The methodology applied is an ordered logit model considering a set of variables such as company size, age, export capacity and technological intensity associated to the company's sector. The results show that the technological intensity of the company turns out to be the variable that most affects the probability of financing itself in the banking sector. This conclusion is relevant to Argentina, given that, if compared to others emerging markets, SMEs do not have alternative instruments to bank financing suitable to the characteristics of high technological SMEs.

RESUMO O objetivo deste artigo é analisar o efeito do grau de intensidade tecnológica associada com as PME no acesso ao financiamento. Portanto, um modelo Logit ordenado e utilizado considerando um conjunto de variáveis independentes, tais como o tamanho da empresa, a experiência, a capacidade de exportação e a intensidade tecnológica associada ao setor. Os resultados mostram que a intensidade tecnológica da empresa passa a ser a variável que mais afeta a probabilidade de financiamento do sector bancário. Essa conclusão é relevante para a Argentina, uma vez que, ao contrário de outros países emergentes, as empresas não têm os instrumentos alternativos de financiamento bancário para atender as características das PME de alta tecnologia.

Abstract The aim of this study is to analyze whether the business success could be explained from the empowerment as a management tool and a set of specific variables of each company, such as age, sector, size and level of earned income. We work with an own database that gathers information from 120 companies of the city of La Ceiba, Honduras. Based on the theoretical framework of the Theory of Resources and Capabilities, probit and ordinal probit econometric models were applied. The results are consistent and show that the empowerment is a significant variable to business success, as the variables: age, size and level of income received.

Resumen El objetivo del presente estudio es analizar si el éxito empresarial puede ser explicado a partir del empowerment como herramienta de gestión y un conjunto de variables particulares de cada empresa, tales como: antigüedad, sector, tamaño y nivel de ingresos percibidos. Trabajamos con una base de datos propia que reúne información de 120 empresas de la ciudad de La Ceiba, Honduras. Basados en el marco teórico de referencia de la Teoría de Recursos y Capacidades, se aplicaron modelos econométricos probit y probit ordinal. Los resultados son consistentes y muestran que el empowerment es una variable significativa del éxito empresarial al igual las variables: antigüedad, tamaño y nivel de ingresos percibidos.