La calidad y su impacto sobre la rentabilidad y la volatilidad

El objetivo del presente estudio consiste en analizar el impacto que la publicación de la noticia de obtención de un certificado de calidad (ISO 9000) tiene sobre el valor de mercado de la empresa y sobre la volatilidad del precio de cotización de las acciones. La muestra utilizada incluye todas las empresas que, habiendo obtenido un certificado de calidad, han cotizado en el mercado secundario de valores español entre los años 1993 y 1999. Para medir el impacto de la obtención un certificado de calidad sobre los resultados se ha analizado los excesos de rentabilidad, mientras para medir la variación en la volatilidad se han realizado cuatro test, dos paramétricos, uno no paramétrico y una propuesta de test semiparamétrico. Los resultados indican que el mercado de capitales reacciona positivamente a la obtención de este certificado, provocando además un incremento en la volatilidad de los precios de cotización.

Influencia de la calidad sobre la rentabilidad y la volatilidad

El objetivo del presente estudio consiste en analizar el impacto que la publicación de la noticia de obtención de un certificado de calidad (ISO 9000) tiene sobre el valor de mercado de la empresa y sobre la volatilidad del precio de cotización de las acciones. Adicionalmente se examinan diversos factores determinantes del impacto de la obtención del certificado sobre la rentabilidad. La muestra utilizada incluye todas las empresas que, habiendo cotizado en el mercado continuo entre los años 1993 y 1999, han obtenido un certificado de calidad. Para medir el impacto de la obtención de un certificado de calidad sobre los resultados se ha analizado los excesos de rentabilidad, mientras que para medir la variación en la volatilidad se han realizado cuatro test, dos paramétricos, uno no paramétrico y una propuesta de test semiparamétrico. Los resultados indican que el mercado reacciona positivamente a la obtención de este certificado, provocando además un incremento en la volatilidad de los precios de cotización.

Checking the concurrence among macrobenthic organism distribution patterns at different taxonomic scales in relation to environmental factors

The interaction of both natural conditions and anthropogenic environmental impacts can lead to different soft-bottom macrobenthic distribution patterns. Soft-bottom macrobenthic community was analysed at different taxonomic scales in order to evaluate whether diverse subset of organisms respond to the variability of the environmental pressures (natural and human induced) showing or not similar distribution patterns. Therefore, this long-term survey had been focused on a heterogeneous area, where both anthropogenic and natural stress may affect the community. Three perpendicular transects to the coast were established and stations at 4, 10 and 15 m depths were sampled at each transect twice a year (summer- winter) from 2004 to 2009. Non-parametric multivariate techniques were used to analyse soft-bottom macrobenthic community distribution and its relation to the environmental factors. Similar distribution patterns between investigated taxonomic levels were detected and they were mainly related to depth.

Injury incidence in judokas at the Spanish National University Championship

Background and Study Aim: Understanding injury incidence rates will be a great help with regards to preventing potential future damages. It is for this reason that this study suggests studying a large number of variables. The purpose of research is the relationship of events (empirical variables) that are usually taken into account in developing injury prevention programs during the battles and training in judo tournament. Material and methods: In this research project, 57 male judokas taking part in the Spanish National University Championship in 2009 were asked to complete a retrospective questionnaire. We analysed the following events: the most commonly injured body regions, the medical diagnosis, how and when the injury happened, the type of injury, the side of the body and the type of medical attention received. For the statistical analysis, we used the SPSS statistics programme to apply the Chi-square test in order to determine the significance levels for non-parametric tests from p<.05. Results: Significant differences were found in the most commonly injured body region, the shoulder/clavicle (p<.05), and in the most common diagnosis, the sprain (p<.05). Impact injuries (p<.05) are the most common and training (p<.05) is the most dangerous time. About the type of injury, 78.38% are new injuries (p<.05) and 69.05% affect the right hand side of the body (p<.05). Doctors are the most consulted specialists, but the physiotherapists obtained the best marks. Have been out due to injury for over 21 days 36.36% of the participants, but not for the entire season. Conclusions: The most common diagnosis in university student judokas coincides with those of elite judokas, with the sprain being the most common. University student judokas have a higher rate of shoulder/clavicle injuries, while professional judokas are prone to a higher rate of knee injuries. Training is the most common moment in which injuries occur, both in university student judokas and professional judokas. New injuries are the most common types of injuries in university student judokas and, while doctors are the most consulted specialists, the physiotherapists obtained the best marks.

Delphi study for the design and validation of a questionnaire about digital competences in higher education

The study of digital competence remains an issue of interest for both the scientific community and the supranational political agenda. This study uses the Delphi method to validate the design of a questionnaire to determine the perceived importance of digital competence in higher education. The questionnaire was constructed from different framework documents in digital competence standards (NETS, ACLR, UNESCO). The triangulation of non-parametric techniques made it possible to consolidate the results obtained through the Delphi panel, the suitability of which was highlighted through the expert competence index (K). The resulting questionnaire emerges as a good tool for undertaking future national and international studies on digital competence in higher education.

Active Foreground Region Extraction and Tracking for Sports Video Annotation

Automatic video segmentation plays a vital role in sports videos annotation. This paper presents a fully automatic and computationally efficient algorithm for analysis of sports videos. Various methods of automatic shot boundary detection have been proposed to perform automatic video segmentation. These investigations mainly concentrate on detecting fades and dissolves for fast processing of the entire video scene without providing any additional feedback on object relativity within the shots. The goal of the proposed method is to identify regions that perform certain activities in a scene. The model uses some low-level feature video processing algorithms to extract the shot boundaries from a video scene and to identify dominant colours within these boundaries. An object classification method is used for clustering the seed distributions of the dominant colours to homogeneous regions. Using a simple tracking method a classification of these regions to active or static is performed. The efficiency of the proposed framework is demonstrated over a standard video benchmark with numerous types of sport events and the experimental results show that our algorithm can be used with high accuracy for automatic annotation of active regions for sport videos.

Social Services in Times of Economic and Social Crisis: The case of Spain

The financial and economic crisis which originated in 2008 has had a severe impact on the population of the Southern European countries. The economic policies of austerity and public deficit control, as well as the neo-liberal and conservative social policies are redefining the public social protection systems, in particular the Social Services. In order to get to understand the current situation, we shall explain how the Social Services were developed in Spain and analyse the causes and consequences of the economic crisis. The working hypothesis is that the greater the increase on the population’s needs, the more developed the Social Services should be. We carried out a descriptive analysis of the situation as far as the social impacts of the crisis per region are concerned. We tested the hypothesis through a parametric model of analysis of variance (one-way ANOVA) triangulating with the non-parametric Kruscal-Wallis test. The working hypothesis failed. The regions with better developed Social Services show a lower level of poverty and social exclusion. The challenges that the public Social Services system faces in times of crisis is three-fold: 1) re-modelling of local administration and transferring of the municipal Social Services responsibilities to the regional administration; 2) an increase of the population at risk of poverty and social exclusion 3) impact on social policies.

Control of Redundant Joint Structures Using Image Information During the Tracking of Non-Smooth Trajectories

Visual information is increasingly being used in a great number of applications in order to perform the guidance of joint structures. This paper proposes an image-based controller which allows the joint structure guidance when its number of degrees of freedom is greater than the required for the developed task. In this case, the controller solves the redundancy combining two different tasks: the primary task allows the correct guidance using image information, and the secondary task determines the most adequate joint structure posture solving the possible joint redundancy regarding the performed task in the image space. The method proposed to guide the joint structure also employs a smoothing Kalman filter not only to determine the moment when abrupt changes occur in the tracked trajectory, but also to estimate and compensate these changes using the proposed filter. Furthermore, a direct visual control approach is proposed which integrates the visual information provided by this smoothing Kalman filter. This last aspect permits the correct tracking when noisy measurements are obtained. All the contributions are integrated in an application which requires the tracking of the faces of Asperger children.

Comparative study of RPSALG algorithm for convex semi-infinite programming

The Remez penalty and smoothing algorithm (RPSALG) is a unified framework for penalty and smoothing methods for solving min-max convex semi-infinite programing problems, whose convergence was analyzed in a previous paper of three of the authors. In this paper we consider a partial implementation of RPSALG for solving ordinary convex semi-infinite programming problems. Each iteration of RPSALG involves two types of auxiliary optimization problems: the first one consists of obtaining an approximate solution of some discretized convex problem, while the second one requires to solve a non-convex optimization problem involving the parametric constraints as objective function with the parameter as variable. In this paper we tackle the latter problem with a variant of the cutting angle method called ECAM, a global optimization procedure for solving Lipschitz programming problems. We implement different variants of RPSALG which are compared with the unique publicly available SIP solver, NSIPS, on a battery of test problems.