Third-party complaints and firm performance: an application in Spanish banking

This article focuses on the impact of third-party complaints on firm performance. We propose two research hypotheses, which are developed from the literature of dissatisfaction, emotions, and economics. The methodology is based on an event study to estimate variation in firm share returns in the stock market due to the publication of the Annual Complaints Service Report by the Bank of Spain; as well as a regression analysis to examine the impact of the number of complaints per branch on the variation obtained. The empirical focus is on a sample of eleven banks to which complaints were made and which were quoted on the Spanish Stock Exchange between 1992 and 2001. The results show a negative impact of the publication of these annual complaint reports on the share returns of the banks concerned. Additionally, these returns have a negative relationship with the number of complaints per branch.

Anisotropic magnetoresistance in nanocontacts

We present ab initio calculations of the evolution of anisotropic magnetoresistance (AMR) in Ni nanocontacts from the ballistic to the tunnel regime. We find an extraordinary enhancement of AMR, compared to bulk, in two scenarios. In systems without localized states, such as chemically pure break junctions, large AMR only occurs if the orbital polarization of the current is large, regardless of the anisotropy of the density of states. In systems that display localized states close to the Fermi energy, such as a single electron transistor with ferromagnetic electrodes, large AMR is related to the variation of the Fermi energy as a function of the magnetization direction.

3D geometry of growth strata in a fault-propagation fold: insights into space–time evolution of the Crevillente Fault (Abanilla-Alicante sector), Betic Cordillera, Spain

This work presents a 3D geometric model of growth strata cropping out in a fault-propagation fold associated with the Crevillente Fault (Abanilla-Alicante sector) from the Bajo Segura Basin (eastern Betic Cordillera, southern Spain). The analysis of this 3D model enables us to unravel the along-strike and along-section variations of the growth strata, providing constraints to assess the fold development, and hence, the fault kinematic evolution in space and time. We postulate that the observed along-strike dip variations are related to lateral variation in fault displacement. Along-section variations of the progressive unconformity opening angles indicate greater fault slip in the upper Tortonian–Messinian time span; from the Messinian on, quantitative analysis of the unconformity indicate a constant or lower tectonic activity of the Crevillente Fault (Abanilla-Alicante sector); the minor abundance of striated pebbles in the Pliocene-Quaternary units could be interpreted as a decrease in the stress magnitude and consequently in the tectonic activity of the fault. At a regional scale, comparison of the growth successions cropping out in the northern and southern limits of the Bajo Segura Basin points to a southward migration of deformation in the basin. This means that the Bajo Segura Fault became active after the Crevillente Fault (Abanilla-Alicante sector), for which activity on the latter was probably decreasing according to our data. Consequently, we propose that the seismic hazard at the northern limit of the Bajo Segura Basin should be lower than at the southern limit.

Nanoparticles of tungsten as low-cost monometallic catalyst for selective hydrogenation of 3-hexyne

Low-cost tungsten monometallic catalysts containing variable amounts of metal (4.5, 7.1 and 8.5%W) were prepared by impregnating alumina with ammonium metatungstate as an inexpensive precursor. The catalysts were characterized using ICP, XPS, XRD, TPR and hydrogen chemisorption. These techniques revealed mainly WO3-Al2O3 (W6+) species on the surface. The effects of the content of W nanoparticles and reaction temperature on activity and selectivity for the partial hydrogenation of 3-hexyne, a non-terminal alkyne, were assessed under moderate conditions of temperature and pressure. The monometallic catalysts prepared were found to be active and stereoselective for the production of (Z )-3-hexene, had the following order: 7.1WN/A > 8.5 WN/A ≥ 4.5 WN/A. Additionally, the performance of the synthesized xWN/A catalysts exhibited high sensitivity to temperature variation. In all cases, the maximum 3-hexyne total conversion and selectivity was achieved at 323 K. The performance of the catalysts was considered to be a consequence of two phenomena: a) the electronic effects, related to the high charge of W (+6), causing an intensive dipole moment in the hydrogen molecule (van der Waals forces) and leading to heterolytic bond rupture; the H+ and H- species generated approach a 3-hexyne adsorbate molecule and cause heterolytic rupture of the C≡C bond into C- = C+; and b) steric effects related to the high concentration of WO3 on 8.5WN/A that block the Al2O3 support. Catalyst deactivation was detected, starting at about 50 min of reaction time. Electrodeficient W6+ species are responsible for the formation of green oil at the surface level, blocking pores and active sites of the catalyst, particularly at low reaction temperatures (293 and 303 K). The resulting best catalyst, 7.1WN/A, has low fabrication cost and high selectivity for (Z )-3-hexene (94%) at 323 K. This selectivity is comparable to that of the classical and more expensive industrial Lindlar catalyst (5 wt% Pd). The alumina supported tungsten catalysts are low-cost potential replacements for the Lindlar industrial catalyst. These catalysts could also be used for preparing bimetallic W-Pd catalysts for selective hydrogenation of terminal and non-terminal alkynes.

Novel image processing approach to detect malaria

In this paper we present a novel image processing algorithm providing good preliminary capabilities for in vitro detection of malaria. The proposed concept is based upon analysis of the temporal variation of each pixel. Changes in dark pixels mean that inter cellular activity happened, indicating the presence of the malaria parasite inside the cell. Preliminary experimental results involving analysis of red blood cells being either healthy or infected with malaria parasites, validated the potential benefit of the proposed numerical approach.

Dynamic visual servo control of a 4-axis joint tool to track image trajectories during machining complex shapes

A large part of the new generation of computer numerical control systems has adopted an architecture based on robotic systems. This architecture improves the implementation of many manufacturing processes in terms of flexibility, efficiency, accuracy and velocity. This paper presents a 4-axis robot tool based on a joint structure whose primary use is to perform complex machining shapes in some non-contact processes. A new dynamic visual controller is proposed in order to control the 4-axis joint structure, where image information is used in the control loop to guide the robot tool in the machining task. In addition, this controller eliminates the chaotic joint behavior which appears during tracking of the quasi-repetitive trajectories required in machining processes. Moreover, this robot tool can be coupled to a manipulator robot in order to form a multi-robot platform for complex manufacturing tasks. Therefore, the robot tool could perform a machining task using a piece grasped from the workspace by a manipulator robot. This manipulator robot could be guided by using visual information given by the robot tool, thereby obtaining an intelligent multi-robot platform controlled by only one camera.

Costa Blanca: Public Space And Perceived Image as Key to Tourism Competitiveness

Los destinos turísticos tradicionales del litoral español se enfrentan a profundas transformaciones debidas a varios factores, entre los que se encuentran cambios notables en el comportamiento de la demanda y un intenso crecimiento de la competencia a todos los niveles, que puede poner en duda la pervivencia del modelo de desarrollo de estas áreas maduras. Lejos de ser una excepción, la situación que se describe para la Costa Blanca es extrapolable a otros destinos turísticos en otras regiones y en ámbitos urbanos, que se enfrentan al reto de incorporar nuevas estrategias de renovación, diversificación y reestructuración de su tejido urbano y turístico, como clave de reorientación de su ciclo de vida. A partir del estudio del caso de la Costa Blanca, pero con una vocación globalizadora, se tratan a continuación argumentos referidos a los cambios en la demanda turística y de ocio cotidiano, y cómo ello afecta a la necesidad de intervenir de un modo distinto en el diseño y gestión del tejido urbano que perciben los visitantes y residentes. Se percibe de forma clara que se ha de trabajar de un modo distinto tanto la escena urbana como el territorio turístico a partir de la potenciación de valores diferenciadores: por una adecuada intervención urbanística en los espacios públicos con acciones capaces de distinguir al destino de sus competidores, por la incorporación de nuevos elementos de atracción e innovación urbana, o por una gestión más eficiente de los servicios y las funciones urbanas de los destinos turísticos. A partir de varios indicadores se demuestra que la competitividad de los destinos tradicionales, sean áreas costeras o ciudades, ya no sólo reside en sus recursos patrimoniales, litorales o climáticos, sino que su valor diferenciador se vincula también a la calidad urbana percibida y a la capacidad de incorporar en las acciones de futuro las nuevas necesidades de residentes y visitantes, cada vez más exigentes e impredecibles.