Towards a theory of the credit-risk balance sheet

This article designs what it calls a Credit-Risk Balance Sheet (the risk being that of default by customers), a tool which, in principle, can contribute to revealing, controlling and managing the bad debt risk arising from a company¿s commercial credit, whose amount can represent a significant proportion of both its current and total assets.To construct it, we start from the duality observed in any credit transaction of this nature, whose basic identity can be summed up as Credit = Risk. ¿Credit¿ is granted by a company to its customer, and can be ranked by quality (we suggest the credit scoring system) and ¿risk¿ can either be assumed (interiorised) by the company itself or transferred to third parties (exteriorised).What provides the approach that leads to us being able to talk with confidence of a real Credit-Risk Balance Sheet with its methodological robustness is that the dual vision of the credit transaction is not, as we demonstrate, merely a classificatory duality (a double risk-credit classification of reality) but rather a true causal relationship, that is, a risk-credit causal duality.Once said Credit-Risk Balance Sheet (which bears a certain structural similarity with the classic net asset balance sheet) has been built, and its methodological coherence demonstrated, its properties ¿static and dynamic¿ are studied.Analysis of the temporal evolution of the Credit-Risk Balance Sheet and of its applications will be the object of subsequent works.

Cotton manufacturers as bankers: the textile trade and credit in spain, 1840-1913

[cat] La historiografia ha assenyalat que en el segle XIX el crèdit que els fabricants cotoners catalans oferien als seus clients era de caràcter informal i, per tant, impossible de ser transferit al sistema bancari. Això hauria tingut un efecte negatiu en la rendibilitat de les empreses cotoneres. A partir de l’anàlisi de diversos arxius empresarials, així com de fonts judicials i notarials, aquest treball confirma aquesta descripció dels fets però proposa una interpretació més optimista. Els fabricants feien de banquers dels seus clients perquè eren els millor situats per a exercir aquesta funció. Havien construït una bona estructura d’informació, gestionaven eficientment el risc creditici i obtenien beneficis d’aquesta activitat.

Cotton manufacturers as bankers: the textile trade and credit in spain, 1840-1913

[cat] La historiografia ha assenyalat que en el segle XIX el crèdit que els fabricants cotoners catalans oferien als seus clients era de caràcter informal i, per tant, impossible de ser transferit al sistema bancari. Això hauria tingut un efecte negatiu en la rendibilitat de les empreses cotoneres. A partir de l’anàlisi de diversos arxius empresarials, així com de fonts judicials i notarials, aquest treball confirma aquesta descripció dels fets però proposa una interpretació més optimista. Els fabricants feien de banquers dels seus clients perquè eren els millor situats per a exercir aquesta funció. Havien construït una bona estructura d’informació, gestionaven eficientment el risc creditici i obtenien beneficis d’aquesta activitat.

Lymphocyte populations in liver biopsy specimens from patients with chronic liver disease

The characterisation of lymphocytes from liver biopsies indicates that 'activated' T lymphocytes are present in the liver in alcohol induced hepatitis, chronic active hepatitis (HBS+ve and -ve), and in primary biliary cirrhosis but not in inactive cirrhosis, chronic persistent hepatitis, extrahepatic and drug induced cholestasis. A greater percentage of lymphocytes bear Fc-receptors in chronic active hepatitis than in alcohol induced hepatitis or cholestatic liver disease. The concentration of 'activated' T cells in the peripheral blood in all groups studied was within the normal range, suggesting that the 'activated' T cells found in the liver were reacting to either native or foreign antigens within the liver. The data on Fc-receptor bearing cells are consistent with the involvement of antibody assisted K cell mediated cytotoxicity in chronic active hepatitis.

Portal web para la empresa Ruben's instalaciones y excavaciones

Este proyecto consiste en el desarrollo de un portal web para una empresa de construcción. Estará formado por una parte pública de cara al cliente que contiene diversa información de la empresa y una sección para contactar con la empresa. Además, tendrá una parte privada de gestión de ciertos aspectos de la empresa como presupuestos y pagos, además de un módulo de estadísticas para el seguimiento. El desarrollo se ha considerado necesario debido al contexto actual y a las carencias detectadas en la empresa.

Magic SMTP

Desarrollo de un API por el protocolo SMTP. A través de este API los clientes podrán conectar sus programas cliente de correo electrónico. Conectando los clientes podrán enviar emails y ver estadísticas de los propios envíos a través de la interfaz web Eolica. Se trata de dar un valor añadido a clientes que hacen sus campañas o envíos de email a través de sus clientes de correo electrónico.

La actividad productiva de la fábrica de harinas “La Montserrat” (Girona) en el año agrícola de 1903-1904 = The Production Activities at the Company Harinera “La Montserrat” (Girona) over the Agricultural Year 1903-1904

Harinera La Montserrat, S.A, a company involved in the manufacturing and trading of cereals and flour, was founded in Girona in 1898 by José Ensesa y Cía., Sociedad en Comandita. With the objective to determine how the product activity of this business was structured, we have studied in detail the operations that were carried out over the agricultural year 1903-1904. We have focused on three main aspects. Firstly, the purchasing of wheat (origin, transportation, prices); secondly, the production of flour (using internal and external wheat, profits); and thirdly, its distribution (customers, destination). Finally, we have analyzed the profit and loos account for this period in order to find out if this business was profitable

Implantació de la metodologia àgil SCRUM en el manteniment de sistemes CRM

L'objectiu d'aquest projecte és definir una metodologia de treball àgil en el manteniment de sistemes CRM basada en la metodologia de desenvolupament de software SCRUM. A partir de l'estudi d'aquesta metodologia i de la definició dels processos de manteniment d'un sistema CRM, el projecte adapta aquests processos i proposa una nova metodologia que millorarà el rendiment, l'eficiència i la satisfacció tant dels equips de treball que participen en l'execució d’aquests processos com dels clients finals.

On the tractability of the piecewise-linear approximation for general discrete-choice network revenue management

The choice network revenue management (RM) model incorporates customer purchase behavioras customers purchasing products with certain probabilities that are a function of the offeredassortment of products, and is the appropriate model for airline and hotel network revenuemanagement, dynamic sales of bundles, and dynamic assortment optimization. The underlyingstochastic dynamic program is intractable and even its certainty-equivalence approximation, inthe form of a linear program called Choice Deterministic Linear Program (CDLP) is difficultto solve in most cases. The separation problem for CDLP is NP-complete for MNL with justtwo segments when their consideration sets overlap; the affine approximation of the dynamicprogram is NP-complete for even a single-segment MNL. This is in contrast to the independentclass(perfect-segmentation) case where even the piecewise-linear approximation has been shownto be tractable. In this paper we investigate the piecewise-linear approximation for network RMunder a general discrete-choice model of demand. We show that the gap between the CDLP andthe piecewise-linear bounds is within a factor of at most 2. We then show that the piecewiselinearapproximation is polynomially-time solvable for a fixed consideration set size, bringing itinto the realm of tractability for small consideration sets; small consideration sets are a reasonablemodeling tradeoff in many practical applications. Our solution relies on showing that forany discrete-choice model the separation problem for the linear program of the piecewise-linearapproximation can be solved exactly by a Lagrangian relaxation. We give modeling extensionsand show by numerical experiments the improvements from using piecewise-linear approximationfunctions.

Implantació d'una plataforma informàtica en una entitat financera fusionada

Els darrers anys han estat molt convulsos en el món financer. De tots és coneguda la crisi, immobiliària en un primer moment, i financera més tard. Reestructuracions, fusions, absorcions, intervencions i nacionalitzacions han estat a l’ordre del dia en el món de les entitats financeres els últims 3 anys. El mapa financer ha passat de més de 50 entitats a poc menys de 10 en tan sols 3 anys. Els departaments de tecnologia de bancs i caixes no han estat aliens a aquests moviments. Tot i estar relativament al marge del negoci financer de l’entitat, cada fusió ha atorgat un paper protagonista a tota la plantilla informàtica. Ja que cada reestructuració ha suposat un gran esforç per integrar entitats molt diferents entre si en una de sola. Intentant que l’impacte a clients i a usuaris fos el menor possible. Caixa Manlleu és un exemple proper de la reestructuració del món financer, i ha protagonitzat, juntament amb Caixa Sabadell i Caixa Terrassa, la creació d’Unnim. Aquest cas real serà la base del treball. El projecte consisteix en la creació d’una plataforma informàtica per a la nova entitat resultant de la fusió. Una plataforma amb un doble objectiu: d’una banda, que reculli el millor de les tres plataformes d’origen i que compleixi tots els requestis que la nova entitat exigeix per tal que els usuaris puguin continuar fent les tasques diàries. I de l’altra, una plataforma que posi al dia i actualitzi tecnològicament l’entitat amb el mínim cost possible. Així doncs, cal analitzar per separat cadascuna de les 3 plataformes existents, inventariar les aplicacions comunes i les departamentals, així com les llicències de software vigents existents i no caducades. Decidir quines aplicacions es faran servir, si se’n poden aprofitar o si per contra en calen de noves. També cal analitzar quins equips informàtics (terminals) es necessitaran per tal de treure el màxim rendiment de la plataforma. Entre les conclusions obtingudes en el projecte, cal destacar els grans avantatges d’utilitzar aplicacions virtualitzades en lloc de les tradicionals aplicacions instal·lades físicament a cada terminal. Faciliten la feina i el manteniment, estalvien recursos i fan guanyar temps. A més a més s’aconsegueix una plataforma àgil, lleugera i ràpida.

Spanish E-Consumer Segmentation and Positioning in Virtual Supermarkets Sector

This article analyses different factors that influence the purchasing behaviour of online supermarket customers. These factors are related to both the appearance of the website as well as the processes that take place when making the purchase. Based on these analyses, the various groups of consumers with homogenous behaviour are studied and positioned according to their attitudes. The analysis also allows the quality of the service offered by this kind of establishment to be defined, as well as the main dimensions in which it develops. In the conclusions, factors which should influence the manager of an online supermarket to improve the quality of its service are given

Conjugation of a Ru(II) Arene Complex to Neomycin or to Guanidinoneomycin Leads to Compounds with Differential Cytotoxicities and Accumulation between Cancer and Normal Cells

A straightforward methodology for the synthesis of conjugates between a cytotoxic organometallic ruthenium(II) complex and amino- and guanidinoglycosides, as potential RNA-targeted anticancer compounds, is described. Under microwave irradiation, the imidazole ligand incorporated on the aminoglycoside moiety (neamine or neomycin) was found to replace one triphenylphosphine ligand from the ruthenium precursor [(η6-p-cym)RuCl(PPh3)2]+, allowing the assembly of the target conjugates. The guanidinylated analogue was easily prepared from the neomycin-ruthenium conjugate by reaction with N,N′-di-Boc-N″-triflylguanidine, a powerful guanidinylating reagent that was compatible with the integrity of the metal complex. All conjugates were purified by semipreparative high-performance liquid chromatography (HPLC) and characterized by electrospray ionization (ESI) and matrix-assisted laser desorptionionization time-of-flight (MALDI-TOF) mass spectrometry (MS) and NMR spectroscopy. The cytotoxicity of the compounds was tested in MCF-7 (breast) and DU-145 (prostate) human cancer cells, as well as in the normal HEK293 (Human Embryonic Kidney) cell line, revealing a dependence on the nature of the glycoside moiety and the type of cell (cancer or healthy). Indeed, the neomycinruthenium conjugate (2) displayed moderate antiproliferative activity in both cancer cell lines (IC50 ≈ 80 μM), whereas the neamine conjugate (4) was inactive (IC50 ≈ 200 μM). However, the guanidinylated analogue of the neomycinruthenium conjugate (3) required much lower concentrations than the parent conjugate for equal effect (IC50 = 7.17 μM in DU-145 and IC50 = 11.33 μM in MCF-7). Although the same ranking in antiproliferative activity was found in the nontumorigenic cell line (3 2 > 4), IC50 values indicate that aminoglycoside-containing conjugates are about 2-fold more cytotoxic in normal cells (e.g., IC50 = 49.4 μM for 2) than in cancer cells, whereas an opposite tendency was found with the guanidinylated conjugate, since its cytotoxicity in the normal cell line (IC50 = 12.75 μM for 3) was similar or even lower than that found in MCF-7 and DU-145 cancer cell lines, respectively. Cell uptake studies performed by ICP-MS with conjugates 2 and 3 revealed that guanidinylation of the neomycin moiety had a positive effect on accumulation (about 3-fold higher in DU-145 and 4-fold higher in HEK293), which correlates well with the higher antiproliferative activity of 3. Interestingly, despite the slightly higher accumulation in the normal cell than in the cancer cell line (about 1.4-fold), guanidinoneomycinruthenium conjugate (3) was more cytotoxic to cancer cells (about 1.8-fold), whereas the opposite tendency applied for neomycinruthenium conjugate (2). Such differences in cytotoxic activity and cellular accumulation between cancer and normal cells open the way to the creation of more selective, less toxic anticancer metallodrugs by conjugating cytotoxic metal-based complexes such as ruthenium(II) arene derivatives to guanidinoglycosides.

A Secure Mobile-based Authentication System

Financial information is extremely sensitive. Hence, electronic banking must provide a robust system to authenticate its customers and let them access their data remotely. On the other hand, such system must be usable, affordable, and portable.We propose a challengeresponse based one-time password (OTP) scheme that uses symmetriccryptography in combination with a hardware security module. The proposed protocol safeguards passwords from keyloggers and phishing attacks.Besides, this solution provides convenient mobility for users who want to bank online anytime and anywhere, not just from their owntrusted computers.

Measuring service quality in sport management: an application of the SERVQUAL scale

The aim of this study is to provide an instrument for measuring service quality in sports enterprises from the point of view of the customers. For this purpose we intend to elaborate an enquiry starting out from a more general scale called SERVIQUAL. We have limited our research project to sports enterprises where the customer participates actively, i.e., we have excluded sports clubs and other organizations which offer sport as entertainment. Our choice is mainly due to the fact that few studies have been carried out in this area and that sports has been earning an increasing amount of adepts during the last decades in Spain. The DELPHI method has been applied with the collaboration of a panel of experts in order to evaluate the viability and adequacy of the modified SERVQUAL scale.

Courtship and mating behaviour of the Mediterranean corn borer, Sesamia nonagrioides (Lepidoptera: Noctuidae)

Se describe la secuencia de cortejo y apareamiento de machos y hembras de Sesamia nonagrioides (Lefèbvre) en el laboratorio. Esta secuencia no varió en presencia o ausencia de plantas de maíz. Se estudió la capacidad de atracción de un sexo sobre el otro atando el individuo de un sexo y dejando libre al complementario. La secuencia de cortejo y apareo de las hembras atadas fue la misma que la de las no atadas, pero los machos atados permanecieron absolutamente inactivos. La edad de los adultos (1 día versus 2 días) no afectó al porcentaje de apareamiento. Se encontraron diferencias en la hora del inicio de la llamada de las hembras y en la edad de las hembras en la primera llamada entre la población estudiada y lo descrito para una población griega, diferencias que podrían estar relacionadas con el origen geográfico. Se discute el papel de los penachos abdominales de los machos en el vuelo de cortejo, rechazándose que estimulen el comportamiento de llamada de las hembras o que las atraigan. Cuando no se aplicaron feromonas, el porcentaje de apareamiento en el laboratorio o en el campo no varió cuando aumentó la densidad de la población. Sin embargo, en los campos en que se aplicó confusión sexual, el porcentaje de apareamiento aumentó al aumentar la densidad de adultos. En la discusión se aportan algunas consecuencias para la investigación de la composición de las feromonas y su uso para el seguimiento de plagas y el control mediante confusión sexual.