<?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>0123-5923</journal-id>
<journal-title><![CDATA[Estudios Gerenciales]]></journal-title>
<abbrev-journal-title><![CDATA[estud.gerenc.]]></abbrev-journal-title>
<issn>0123-5923</issn>
<publisher>
<publisher-name><![CDATA[Universidad Icesi]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S0123-59232022000400406</article-id>
<article-id pub-id-type="doi">10.18046/j.estger.2022.165.5136</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[La influencia del conflicto social y la licencia social para operar sobre el valor de la empresa]]></article-title>
<article-title xml:lang="en"><![CDATA[The Influence of Social Conflict and Social License to Operate on the Value of the Company]]></article-title>
<article-title xml:lang="pt"><![CDATA[A influência do conflito e da licença social para operar no valor da empresa]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[McDonald]]></surname>
<given-names><![CDATA[Robert]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Reyes]]></surname>
<given-names><![CDATA[Nancy Matos]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Rivera Camino]]></surname>
<given-names><![CDATA[Jaime]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidad San Ignacio de Loyola facultad de Economia ]]></institution>
<addr-line><![CDATA[Lima ]]></addr-line>
<country>Peru</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Universidad ESAN facultad Graduate School of Business ]]></institution>
<addr-line><![CDATA[Lima ]]></addr-line>
<country>Peru</country>
</aff>
<aff id="Af3">
<institution><![CDATA[,Universidad Carlos III de Madrid facultad Economía de la Empresa ]]></institution>
<addr-line><![CDATA[Madrid ]]></addr-line>
<country>Spain</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>12</month>
<year>2022</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>12</month>
<year>2022</year>
</pub-date>
<volume>38</volume>
<numero>165</numero>
<fpage>406</fpage>
<lpage>423</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_arttext&amp;pid=S0123-59232022000400406&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_abstract&amp;pid=S0123-59232022000400406&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_pdf&amp;pid=S0123-59232022000400406&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen A partir de información empírica del sector minero del Perú, se propone un modelo que relaciona el conflicto social, la licencia social para operar, y el valor de las empresas extractivas para contribuir a la comprensión de la dinámica socioempresarial del sector extractivo. Las variables que se utiliza en el modelo son el precio de las acciones mineras, el registro oficial de los conflictos, y las licencias sociales. Por medio de una regresión lineal multivariada, se encuentra que el incremento de los conflictos sociales disminuye el valor de las empresas, y que la licencia social para operar tiene un efecto positivo sobre esta variable; además, modera el impacto del conflicto en el valor de la empresa. El estudio confirma empíricamente las relaciones sociales y económicas entre empresas extractivas y comunidades, y orienta a directivos, políticos y autoridades sobre acciones para prevenir conflictos. También contribuye a cerrar la brecha de estudios empíricos en países con menor nivel de desarrollo. Clasificación JEL: C51; G12; P28.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract Based on empirical information from the Peruvian mining sector, a model is proposed that relates social conflict, social license to operate, and the value of extractive companies, in order to contribute to the understanding of socio-entrepreneurial dynamics of the extractive sector. The variables used in the model are the price of mining shares, the official record of conflicts, and social licenses. Using multivariate linear regression, it is found that the increase in social conflicts decreases the value of the companies and that the social license to operate has a positive effect on this variable; moreover, it moderates the impact of the conflict on the value of the company. The study empirically confirms the social and economic relationships between extractive companies and communities, and guides managers, politicians, and authorities to prevent conflicts. It also contributes to closing the gap of empirical studies in less advanced countries.]]></p></abstract>
<abstract abstract-type="short" xml:lang="pt"><p><![CDATA[Resumo Com base em informações empíricas do setor de mineração peruano, propõe-se um modelo que relaciona o conflito social, a licença social para operar e o valor das empresas extrativistas para contribuir para a compreensão da dinâmica social empresarial do setor extrativo. As variáveis utilizadas no modelo são o preço das ações de mineração, o registro oficial de conflitos e as licenças sociais. Por meio de uma regressão linear multivariada, verifica-se que o aumento dos conflitos sociais diminui o valor das empresas, e que a licença social para operar tem efeito positivo sobre essa variável; além disso, modera o impacto do conflito no valor da empresa. O estudo confirma empiricamente as relações sociais e econômicas entre empresas extrativistas e comunidades e orienta gestores, políticos e autoridades para prevenir conflitos. Contribui também para fechar a lacuna de estudos empíricos em países menos avançados.]]></p></abstract>
<kwd-group>
<kwd lng="es"><![CDATA[licencia social]]></kwd>
<kwd lng="es"><![CDATA[valor de la empresa]]></kwd>
<kwd lng="es"><![CDATA[conflicto social]]></kwd>
<kwd lng="es"><![CDATA[actividades extractivas]]></kwd>
<kwd lng="en"><![CDATA[social license]]></kwd>
<kwd lng="en"><![CDATA[company value]]></kwd>
<kwd lng="en"><![CDATA[social conflict]]></kwd>
<kwd lng="en"><![CDATA[extractive activities]]></kwd>
<kwd lng="pt"><![CDATA[licença social]]></kwd>
<kwd lng="pt"><![CDATA[valor da empresa]]></kwd>
<kwd lng="pt"><![CDATA[conflito social]]></kwd>
<kwd lng="pt"><![CDATA[atividades extrativistas]]></kwd>
</kwd-group>
</article-meta>
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