Dear Chris,
I corrected it and give the same result...
MAIL=/usr/mail/${LOGNAME:?}
# variables de ambiente
COBDIR=/opt/microfocus/cobol
AS=usr/ccs/bin/as:$PATH
LD_LIBRARY_PATH=$COBDIR/lib:$LD_LIBRARY_PATH
PATH=/$COBDIR/bin:$PATH
export COBDIR LD_LIBRARY_PATH AS PATH