<?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>1657-6276</journal-id>
<journal-title><![CDATA[Pensamiento & Gestión]]></journal-title>
<abbrev-journal-title><![CDATA[Pensam. gest.]]></abbrev-journal-title>
<issn>1657-6276</issn>
<publisher>
<publisher-name><![CDATA[Fundación Universidad del Norte - Barranquilla, Colombia.]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S1657-62762021000100153</article-id>
<article-id pub-id-type="doi">10.14482/pege.50.362.292</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[¿El negocio de bebidas alcohólicas es rentable en Colombia?]]></article-title>
<article-title xml:lang="en"><![CDATA[Is the Alcoholic Beverage Business Profitable in Colombia?]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Rivera Godoy]]></surname>
<given-names><![CDATA[Jorge Alberto]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[García Muñoz]]></surname>
<given-names><![CDATA[Juliana]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Torres Duque]]></surname>
<given-names><![CDATA[Alejandro]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidad Santiago de Cali  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Colombia</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Universidad del Valle  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
</aff>
<aff id="Af3">
<institution><![CDATA[,alejandro.torres.duque@correounivalle.edu.co  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>06</month>
<year>2021</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>06</month>
<year>2021</year>
</pub-date>
<numero>50</numero>
<fpage>153</fpage>
<lpage>185</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_arttext&amp;pid=S1657-62762021000100153&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_abstract&amp;pid=S1657-62762021000100153&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_pdf&amp;pid=S1657-62762021000100153&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen Este artículo tuvo como objetivo evaluar el desempeño financiero del sector bebidas alcohólicas en Colombia en el periodo 2014-2018, siguiendo como metodología el análisis estático y de tendencias de indicadores contables y de valor económico agregado que miden su crecimiento, eficiencia, eficacia y efectividad. Se encontró que este sector creció y generó rentabilidades contables que fluctuaron en los tres primeros años y luego subieron, siguiendo la orientación de la eficacia en el control de costos y gastos, que fue ampliada por un apalancamiento financiero positivo. Además, se halló que este sector creó valor económico agregado (EVA) en cada uno de los años debido a que la rentabilidad del activo neto operacional fue superior al costo de capital y dejó un margen de utilidad residual. Estos hallazgos podrían complementarse con estudios semejantes para grupos homogéneos en tamaño, edad y zona geográfica.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract This article aimed to evaluate the financial performance of the alcoholic beverages sector in Colombia for the 2014-2018 period, following, as a methodology, the static and trend analysis of accounting and economic value-added indicators that measure its growth, efficiency, efficacy, and effectiveness. It was observed that this sector grew, and generated accounting returns that fluctuated in the first three years, and then rose, following the guidance of cost and expense control efficacy, which was augmented by positive inancial leverage. In addition, it was discovered that this sector created added economic value (EVA) every year because the return on net operating assets was higher than the cost of capital, leaving a residual profit margin. These indings could be complemented by similar studies for homogeneous groups in size, age, and geographical area.]]></p></abstract>
<kwd-group>
<kwd lng="es"><![CDATA[valor económico agregado]]></kwd>
<kwd lng="es"><![CDATA[valor de mercado agregado]]></kwd>
<kwd lng="es"><![CDATA[desempeño financiero]]></kwd>
<kwd lng="es"><![CDATA[indicadores financieros de eficiencia, efectividad y eficacia]]></kwd>
<kwd lng="es"><![CDATA[sector bebidas alcohólicas en Colombia]]></kwd>
<kwd lng="en"><![CDATA[economic value added]]></kwd>
<kwd lng="en"><![CDATA[market value added]]></kwd>
<kwd lng="en"><![CDATA[financial performance]]></kwd>
<kwd lng="en"><![CDATA[efficiency, effectiveness and efficacy financial indicators]]></kwd>
<kwd lng="en"><![CDATA[sector beverage alcohol in Colombia]]></kwd>
</kwd-group>
</article-meta>
</front><back>
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