<?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>0186-1042</journal-id>
<journal-title><![CDATA[Contaduría y administración]]></journal-title>
<abbrev-journal-title><![CDATA[Contad. Adm]]></abbrev-journal-title>
<issn>0186-1042</issn>
<publisher>
<publisher-name><![CDATA[Universidad Nacional Autónoma de México, Facultad de Contaduría y Administración]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S0186-10422019000500003</article-id>
<article-id pub-id-type="doi">10.22201/fca.24488410e.2018.1599</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[Dinámica del sistema afianzador de México: una aplicación de diagramas de fase]]></article-title>
<article-title xml:lang="en"><![CDATA[Dynamics of the mixing system of mexico: An application of phase diagrams]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Gavira-Durón]]></surname>
<given-names><![CDATA[Nora]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Jiménez Preciado]]></surname>
<given-names><![CDATA[Ana Lorena]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Moreno Quezada]]></surname>
<given-names><![CDATA[Einar]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidad de las Américas  ]]></institution>
<addr-line><![CDATA[ Puebla]]></addr-line>
<country>Mexico</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Instituto Politécnico Nacional  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>12</month>
<year>2019</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>12</month>
<year>2019</year>
</pub-date>
<volume>64</volume>
<numero>4</numero>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S0186-10422019000500003&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S0186-10422019000500003&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S0186-10422019000500003&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen A partir de la implementación de Solvencia II en México, se generó un cambio significativo en la normatividad para aseguradoras y afianzadoras, lo que implicó incremento en sus costos y gastos, en particular para el sector afianzador, ya que les representa una mayor carga regulatoria con respecto a su Ley anterior; teniendo un impacto directo en el costo de las primas y la generación de utilidades. El objetivo del presente trabajo es analizar la dinámica entre el total de primas emitidas por el sector afianzador y la utilidad bruta reportada por las mismas; lo anterior permite determinar si la captación de primas es suficiente para incrementar las utilidades reportadas por el sector. Se utilizan diagramas de fase con la finalidad de comprender la dinámica temporal entre las variables y conocer sus trayectorias en relación al Estado Estacionario. A partir de la metodología propuesta se señala que las afianzadoras mexicanas, a pesar de sus utilidades, presentan comportamientos globalmente inestables, asimismo, se verifican los casos donde una mayor aversión al riesgo de las afianzadoras (representadas por las primas emitidas) no siempre reflejan mayores utilidades.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract Since the application of Solvency II in Mexico, it has been implanted significant changes in regulations for insurers and sureties, which implied an increase in costs and expenses, particularly for the surety sector, since it represents a more significant regulatory burden in regard to the previous Law. This new regulation has a direct impact on insurance premium and its profits. In that sense, the aim of this paper is to analyze the dynamics between total insurance premiums and net income reported of the surety sector in Mexico; this allow to determine whether the collection of insurance premiums is enough to increase net incomes. Phase diagrams are used to recognize the temporal dynamics between variables and know their trajectories in relation to the Steady State. Based on the proposed methodology, it is noted that surety companies present globally unstable behaviors. Likewise, it is verified cases where increased risk aversion of the sureties (represented by the premiums) do not always reflect higher earnings.]]></p></abstract>
<kwd-group>
<kwd lng="es"><![CDATA[Solvencia II]]></kwd>
<kwd lng="es"><![CDATA[Afianzadoras mexicanas]]></kwd>
<kwd lng="es"><![CDATA[Diagramas de fase]]></kwd>
<kwd lng="en"><![CDATA[Solvency II]]></kwd>
<kwd lng="en"><![CDATA[Mexican surety]]></kwd>
<kwd lng="en"><![CDATA[Phase diagrams]]></kwd>
</kwd-group>
</article-meta>
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