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.

A third cluster of red supergiants in the vicinity of the massive cluster RSGC3

Context. Recent studies have shown that the area around the massive, obscured cluster RSGC3 may harbour several clusters of red supergiants. Aims. We analyse a clump of photometrically selected red supergiant candidates 20′ south of RSGC3 in order to confirm the existence of another of these clusters. Methods. Using medium-resolution infrared spectroscopy around 2.27 μm, we derived spectral types and velocities along the line of sight for the selected candidates, confirming their nature and possible association. Results. We find a compact clump of eight red supergiants and four other candidates at some distance, all of them spectroscopically confirmed red supergiants. The majority of these objects must form an open cluster, which we name Alicante 10. Because of the high reddening and strong field contamination, the cluster sequence is not clearly seen in 2MASS or GPS-UKIDSS. From the observed sources, we derive E(J − KS) = 2.6 and d ≈ 6 kpc. Conclusions. Although the cluster is smaller than RSGC3, it has an initial mass in excess of 10 000 M⊙, and it seems to be part of the RSGC3 complex. With the new members this association already has 35 spectroscopically confirmed red supergiants, confirming its place as one of the most active sites of recent stellar formation in the Galaxy.

Antonio Maura y el papel del II Reich en las negociaciones hispano-francesas sobre Marruecos de 1903-1904

En la primera parte del artículo se aborda el problema que ha de afrontar el estadista Antonio Maura al convertirse en el jefe del gobierno español, a finales de 1903 y consistente en concluir el proceso de negociación sobre Marruecos entablado con Francia desde 1901. Se resalta el carácter continuista del ideario colonial de Maura con respecto al del anterior líder conservador, Silvela, y la preponderancia de cuestiones como la seguridad nacional como motivadoras de dicho ideario. En la segunda parte, se explica la apelación del gobierno maurista a una ayuda por parte de Alemania, en función de movimientos previos de la diplomacia germana que se había interesado por controlar una parte del Marruecos español, o por conseguir compensaciones en Fernando Po. Finalmente se analiza el intento de Berlín de instrumentalizar al gobierno Maura en el curso de las conversaciones hispano-francesas sobre el Imperio jerifiano.

Looking Forward to a Dynamic Third Age - Comparative Survey Report

BALL (Be Active Through Lifelong Learning) is an Erasmus + project of the European Union with the chief objective of analysing the degree of Preparation for Retirement among European citizens. The team working for this project, funded by the EU, is composed by organizations with broad experience at work with the third age from three European countries, Poland, Iceland and Spain, and the results obtained from these three contexts aim to provide a clear picture about the state of the art in preparation for retirement nowadays. The main objective of the project is to develop innovative guidelines and recommendations for use at lifelong learning centres; universities; companies; unions; associations; local and regional authorities who need and wish to prepare and encourage individuals under their auspices to prepare for the third age. The project defines the age group of 50 to 70 (the “baby boomer” generation) as the target group for such early preparations. The project and its outcomes will be used to raise awareness of these important issues and disseminate the results throughout the European Educational Area and the worldwide U3A network.

Transfer in third language phonology: Does L3 typological proximity play a role?

Les investigacions recents sobre la transferència i l'adquisició d’una L3 han indagat sobre les interferències lingüístiques quan hi ha més d'una font de transferència. Els participants en aquest estudi de cas van ser parlants d’espanyol i d’anglès, que apreninen una tercera llengua, el català, tipològicament més pròxima a l’espanyol. Aquest estudi va investigar la producció dels bilingües del català fosc /ɫ/, un segment que no és present en espanyol ja que tots els laterals es produeixen com una clara /l/, i que, tanmateix, es realitza en anglès en posició final després de vocal. Contràriament al model que planteja la proximitat d'idiomes prèviament adquirids com un dels factors determinants per a la transferència de competències, l’estudi va mostrar que la proximitat tipològica a un dels L1 no és determinista per a la transferència en el nivell fonològic en l’aprenentatge d’una L3, ja que els participants produeixen laterals catalanes similars a /ɫ/. En aquest estudi de cas es constata, d’acord amb el Model de Millora Acumulativa, com es transfereix aquest segment fonològic des de l’anglés al català.