118 resultados para risky asset
Resumo:
L’objectiu d’aquest treball és descriure els riscos i les possibilitats d’Internet i les Web 2.0 i la importància de com utilitzem Internet, les xarxes socials i els jocs de rol massius en línia (MMORPG). A la recerca han participat 34 estudiants universitaris, els quals han respost un qüestionari per determinar els usos, abusos, les conductes de risc i la possible addicció a Internet o a alguna aplicació 2.0. Per últim, hi ha una proposta de disseny d’un projecte per a la sensibilització d’educadors/es socials entorn d’aquestes eines.
Resumo:
Teniendo en cuenta que la imagen turística ha sido reconocida como uno de los elementos más influyentes para la competitividad de los destinos turísticos, el principal objetivo de este artículo es construir un marco conceptual que muestre la influencia de la red relacional del destino en su imagen emitida. En este contexto, se asume que la imagen tu rística es una construcción social resultante de lainteracción de los distintos agentes que intervienen en el destino turístico (administraciones públicas, instituciones locales, empresas turísticas, etc.); y se propone un modelo teórico para mostrar los efectos de la red relacional del destino turístico en la calidad de la imagen turística creada en términos de conocimiento generado y, por tanto, en su competitividad
Resumo:
Markets, in the real world, are not efficient zero-sum games where hypotheses of the CAPM are fulfilled. Then, it is easy to conclude the market portfolio is not located on Markowitz"s efficient frontier, and passive investments (and indexing) are not optimal but biased. In this paper, we define and analyze biases suffered by passive investors: the sample, construction, efficiency and active biases and tracking error are presented. We propose Minimum Risk Indices (MRI) as an alternative to deal with to market index biases, and to provide investors with portfolios closer to the efficient frontier, that is, more optimal investment possibilities. MRI (using a Parametric Value-at-Risk Minimization approach) are calculated for three stock markets achieving interesting results. Our indices are less risky and more profitable than current Market Indices in the Argentinean and Spanish markets, facing that way the Efficient Market Hypothesis. Two innovations must be outlined: an error dimension has been included in the backtesting and the Sharpe"s Ratio has been used to select the"best" MRI
Resumo:
Today, most software development teams use free and open source software (FOSS) components, because it increases the speed and the quality of the development. Many open source components are the de facto standard of their category. However, FOSS has licensing restrictions, and corporate organizations usually maintain a list of allowed and forbidden licenses. But how do you enforce this policy? How can you make sure that ALL files in your source depot, either belong to you, or fit your licensing policy? A first, preventive approach is to train and increase the awareness of the development team to these licensing issues. Depending on the size of the team, it may be costly but necessary. However, this does not ensure that a single individual will not commit a forbidden icon or library, and jeopardize the legal status of the whole release... if not the company, since software is becoming more and more a critical asset. Another approach is to verify what is included in the source repository, and check whether it belongs to the open-source world. This can be done on-the-fly, whenever a new file is added into the source depot. It can also be part of the release process, as a verification step before publishing the release. In both cases, there are some tools and databases to automate the detection process. We will present the various options regarding FOSS detection, how this process can be integrated in the "software factory", and how the results can be displayed in a usable and efficient way.
Resumo:
In this paper we will develop a methodology for obtaining pricing expressions for financial instruments whose underlying asset can be described through a simple continuous-time random walk (CTRW) market model. Our approach is very natural to the issue because it is based in the use of renewal equations, and therefore it enhances the potential use of CTRW techniques in finance. We solve these equations for typical contract specifications, in a particular but exemplifying case. We also show how a formal general solution can be found for more exotic derivatives, and we compare prices for alternative models of the underlying. Finally, we recover the celebrated results for the Wiener process under certain limits.
Resumo:
Markets, in the real world, are not efficient zero-sum games where hypotheses of the CAPM are fulfilled. Then, it is easy to conclude the market portfolio is not located on Markowitz"s efficient frontier, and passive investments (and indexing) are not optimal but biased. In this paper, we define and analyze biases suffered by passive investors: the sample, construction, efficiency and active biases and tracking error are presented. We propose Minimum Risk Indices (MRI) as an alternative to deal with to market index biases, and to provide investors with portfolios closer to the efficient frontier, that is, more optimal investment possibilities. MRI (using a Parametric Value-at-Risk Minimization approach) are calculated for three stock markets achieving interesting results. Our indices are less risky and more profitable than current Market Indices in the Argentinean and Spanish markets, facing that way the Efficient Market Hypothesis. Two innovations must be outlined: an error dimension has been included in the backtesting and the Sharpe"s Ratio has been used to select the"best" MRI
Resumo:
Estamos viviendo desde la entrada al siglo XXI una explosión acelerada de las tecnologías, de las TIC’s, las redes sociales en internet, etc. que están modificando enormemente los hábitos de consumo y los principios de la sociedad. A todo ello, hay que añadir la situación de crisis económica general que existe en el mundo, y que afecta enormemente a las empresas y al tejido empresarial de un país. En este entorno, las compañías deben basar sus estrategias en estar cerca del cliente y ser capaces de visualizar necesidades no cubiertas. Sobre todo, las empresas deben transformarse para crear organizaciones humanizadas capaces de generar innovación y adaptarse rápidamente a los nuevos entornos que van surgiendo. Para poder hacer frente a esta nueva situación las empresas deben poner en valor el talento de todas las personas que forman parte de la organización. El activo más importante y escaso, para poder desarrollar estrategias triunfadoras. El trabajo pretende resumir la situación actual para las empresas, recoger todas las ideas y nuevas tendencias que existen en cuanto a la gestión del talento, la organización del trabajo y la creación de estructuras que permitan innovar. A lo largo del trabajo se van desarrollando las diferentes herramientas, sistemas y disciplinas que están a disposición de las empresas para crear un entorno que favorezca la innovación, como camino para mantenerse en el mercado global.
Resumo:
The aim of this study was to devise a method for computing a composite indicator that measures the regional degree of exposure to external knowledge sources. On the basis of this indicator, we propose a typology of regions according to their potential capacity to access extra-local items of knowledge, which might help them to recombine complementary elements of such an asset to produce a higher number of new ideas. Building on various research streams that have been relatively independent to date, we summarize a non-exhaustive instrumental list of recent studies that motivates our approach and the construction of our complex indicator, which can be used to appraise the extent to which each region is in an optimal position to access external innovative resources.
Resumo:
In this paper, we scrutinize the cross-sectional relation between idiosyncratic volatility and stock returns. As a novelty, the idiosyncratic volatility is obtained by conditioning upon macro-finance factors as well as upon traditional asset pricing factors. The macro-finance factors are constructed from a large pool of macroeconomic and financial variables. Cleaning for macro-finance e§ects reverses the puzzling negative relation between returns and idiosyncratic volatility documented previously. Portfolio analysis shows that the effects from macro-finance factors are economically strong. The relation between idiosyncratic volatility and returns does not vary with the NBER business cycles. The empirical results are highly robust. Keywords: Idiosyncratic volatility puzzle; Macro-finance predictors; Factor analysis; Business cycle. JEL Classifications: G12; G14
Resumo:
The fundamental debt of E. O’Neill’s Mourning Becomes Electra to Aeschylus, and to a lesser degree to Sophocles and Euripides, has been always recognised but, according to the author’s hypothesis, O’Neill might have taken advantage of the Platonic image of the cave in order to magnify his both Greek and American drama. It is certainly a risky hypothesis that stricto sensu cannot be proved, but it is also reader’s right to evaluate the plausibility and the possible dramatic benefit derived from such a reading. Besides indicating to what degree some of the essential themes of Platonic philosophy concerning darkness, light or the flight from the prison of the material world are not extraneous to O’Neill’s work, the author proves he was aware of the Platonic image of the cave thanks to its capital importance in the work of some of his intellectual mentors such as F. Nietzsche or Oscar Wilde. Nevertheless, the most significant aim of the author’s article is to emphasize both the dramatic benefits and the logical reflections derived, as said before, from reading little by little O’Neill’s drama bearing in mind the above mentioned Platonic parameter.
Resumo:
[cat] ¿Podem convertir l’Èdip rei de Sòfocles en una història d’amor com ho fa Berkoff a Greek?. Tot i que alguns crítics llegeixen Greek només com un drama provocador que de cap manera intenta justificar l’incest, directors, actors i crítics resten finalment captivats per la impactant història d’amor entre Eddy i la seva esposa-mare. Això demostraria que l’adaptació de Berkoff, pensada per a il·lustrar la degradació social de la Gran Bretanya dels 80s, esdevé una proposta arriscada, car significa negar de fet la consciència tràgica dels homes i dones contemporanis. Tanmateix, si aquest és el cas, lectors i espectadors, a banda de l’indubtable plaer d’assistir a la representació de Greek, poden preguntar-se, fins i tot des d’una perspectiva no fonamentalista de la tradició clàssica, si té sentit inspirar-se en el text de Sòfocles, el qual mostra precisament la gran consciència tràgica dels grecs.
Resumo:
The basketball refereeing has undergone many changes in the last ten years. This article claims to combine some conceptual and methodological basis to define the meanings for the so called ‘modern refereeing’. Indeed, this research is concerned to the analysis of the new communication skills as an inseparable asset to the arbitration task, characterized by the dialogue, the administration of 'soft power', the emotional management and the adoption of a renewed and empathic attitude towards all the components of the game. Finally, this paper will propose the concretion of some specific communicative characteristics of the basketball refereeing in the XXI century.
Resumo:
El software lliure està tenint últimament un pes cada cop més important en les empreses, però encara és el gran desconegut per a molta gent. Des de la seva creació als anys 80 fins ara, hi ha hagut un creixement exponencial de software lliure de gran qualitat, oferint eines per a tot tipus de necessitats, eines ofimàtiques, gestors de correu, sistemes de fitxer, sistemes operatius…. Tot aquest moviment no ha passat desapercebut per a molts usuaris i empreses, que s’han aprofitat d’ell per cobrir les seves necessitats. Pel que fa a les empreses, cada cop n’hi ha més que en petita o gran mesura, utilitzen el software lliure, ja sigui per el seu menor cost d’adquisició, o bé per la seva gran fiabilitat o per que és fàcilment adaptable o per no establir cap lligam tecnològic, en definitiva per tenir més llibertat. En el moment de la creació d’una nova empresa, on es parteix de zero en tota la tecnologia informàtica, és el moment menys costòs d’implementar l’arquitectura informàtica amb software lliure, és quan l’impacte que té sobre l’empresa, usuaris i clients és menor. En les empreses que ja tenen un sistema informàtic, caldrà establir un pla de migració, ja sigui total o parcial. La finalitat d’aquest projecte no és la de dir quin software és millor que l’altre o de dir quin s’ha d’instal•lar, sinó el de donar a conèixer el món del software lliure, mostrar part d’aquest software, fer alguna comparativa de software lliure amb software propietari, donant idees i un conjunt de solucions per a empreses, per què una empresa pugui agafar idees d’implementació d’algunes de les solucions informàtiques exposades o seguir algun dels consells proposats. Actualment ja hi ha moltes empreses que utilitzen software lliure. Algunes només n’utilitzen una petita part en les seves instal•lacions, ja que el fet de que una empresa funcioni al 100% amb software lliure, tot i que n’hi comença ha haver, de moment ho considero una mica arriscat, però que en poc temps, aquest fet serà cada cop més habitual.