<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>2007-8064</journal-id>
<journal-title><![CDATA[Entreciencias: diálogos en la sociedad del conocimiento]]></journal-title>
<abbrev-journal-title><![CDATA[Entreciencias: diálogos soc. conoc.]]></abbrev-journal-title>
<issn>2007-8064</issn>
<publisher>
<publisher-name><![CDATA[Universidad Nacional Autónoma de México, Escuela Nacional de Estudios Superiores]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S2007-80642020000100307</article-id>
<article-id pub-id-type="doi">10.22201/enesl.20078064e.2020.22.72640</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[Determinantes de la estructura de largo plazo del mercado de Afores en México: un análisis de supervivencia]]></article-title>
<article-title xml:lang="en"><![CDATA[Determinants of the long term structure of the retirement fund administrator market in Mexico: a survival analysis]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Arteaga García]]></surname>
<given-names><![CDATA[Julio César]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Moreno Treviño]]></surname>
<given-names><![CDATA[Jorge Omar]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidad Autónoma de Nuevo León Facultad de Economía ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>12</month>
<year>2020</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>12</month>
<year>2020</year>
</pub-date>
<volume>8</volume>
<numero>22</numero>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S2007-80642020000100307&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S2007-80642020000100307&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S2007-80642020000100307&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[RESUMEN  Objetivo:  analizar la evolución de los competidores en el mercado de las Administradoras de Fondos para el Retiro (Afores) en México, identificando los determinantes de permanencia en el mercado.  Método:  se analizan las tasas de salida de las Afores desde el inicio de sus funciones (diciembre 1997) usando el modelo de Cox de riesgos proporcionales de supervivencia para estimar la contribución de cofactores como tamaño, importancia relativa en el mercado, y usando el análisis envolvente de datos (DEA, por sus siglas en inglés) para identificar la eficiencia global de la industria y las eficiencias particulares de cada institución.  Resultados:  los factores que determinan la supervivencia son: la eficiencia tecnológica global del mercado, el tamaño absoluto de las Afores y si la salida del mercado es liquidación.  Limitaciones:  el estudio considera únicamente factores observados a las eficiencias tecnológicas de cada Afore, y no tiene acceso a información interna que podría ayudar a identificar mejor los determinantes de eficiencia.  Principales hallazgos:  tamaño absoluto y eficiencia global predominan para explicar la permanencia de una Afore en el mercado sobre otros determinantes, como su participación relativa, asociación a un banco, participación relativa en la industria, tipo de entrada, o la reforma al sistema implementada en 2008.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[ABSTRACT  Purpose:  To analyze the evolution of competitors in the market of Retirement Fund Administrators (Afores in its Spanish acronym) in Mexico identifying the determinants of permanence in the market.  Methodology:  We analyze Afores&#8217; exit rates from the beginning of market functions (December 1997) using the Cox model of proportional survival risks to estimate the contribution of cofactors such as size, relative importance in the market. We also use Data Envelope Analysis (DEA) to identify the overall efficiency of the industry and the particular efficiency of each institution.  Results:  The factors that determine survival are the global technological efficiency of the market, the absolute size of Afores and if the market exit is by liquidation.  Limitations:  The study only considers observed factors related to the technological efficiency of each Afore and does not have access to internal information that could help to better identify the determinants of efficiency.  Findings:  Absolute size and overall market efficiency predominate to explain the permanence of an Afore in the market over other determinants such as its relative participation, association with a bank, relative participation in the industry, type of entry, or the system reform implemented in 2008.]]></p></abstract>
<kwd-group>
<kwd lng="es"><![CDATA[estructura de mercado]]></kwd>
<kwd lng="es"><![CDATA[competencia]]></kwd>
<kwd lng="es"><![CDATA[Afores]]></kwd>
<kwd lng="es"><![CDATA[análisis de supervivencia]]></kwd>
<kwd lng="en"><![CDATA[Market structure]]></kwd>
<kwd lng="en"><![CDATA[competition]]></kwd>
<kwd lng="en"><![CDATA[pension funds]]></kwd>
<kwd lng="en"><![CDATA[survival analysis]]></kwd>
</kwd-group>
</article-meta>
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