An application of capital allocation principles to operational risk

The cost of operational risk refers to the capital needed to a fford the loss generated by ordinary activities of a firm. In this work we demonstrate how allocation principles can be used to the subdivision of the aggregate capital so that the firm can distribute this cost across its various constituents that generate operational risk. Several capital allocation principles are revised. Proportional allocation allows to calculate a relative risk premium to be charged to each unit. An example of fraud risk in the banking sector is presented and some correlation scenarios between business lines are compared. Keywords: solvency, quantile, value at risk, copulas

Organisational Values as "Attractors of Chaos": An Emerging Cultural Change to Manage Organisational Complexity

Business organisations are excellent representations of what in physics and mathematics are designated "chaotic" systems. Because a culture of innovation will be vital for organisational survival in the 21st century, the present paper proposes that viewing organisations in terms of "complexity theory" may assist leaders in fine-tuning managerial philosophies that provide orderly management emphasizing stability within a culture of organised chaos, for it is on the "boundary of chaos" that the greatest creativity occurs. It is argued that 21st century companies, as chaotic social systems, will no longer be effectively managed by rigid objectives (MBO) nor by instructions (MBI). Their capacity for self-organisation will be derived essentially from how their members accept a shared set of values or principles for action (MBV). Complexity theory deals with systems that show complex structures in time or space, often hiding simple deterministic rules. This theory holds that once these rules are found, it is possible to make effective predictions and even to control the apparent complexity. The state of chaos that self-organises, thanks to the appearance of the "strange attractor", is the ideal basis for creativity and innovation in the company. In this self-organised state of chaos, members are not confined to narrow roles, and gradually develop their capacity for differentiation and relationships, growing continuously toward their maximum potential contribution to the efficiency of the organisation. In this way, values act as organisers or "attractors" of disorder, which in the theory of chaos are equations represented by unusually regular geometric configurations that predict the long-term behaviour of complex systems. In business organisations (as in all kinds of social systems) the starting principles end up as the final principles in the long term. An attractor is a model representation of the behavioral results of a system. The attractor is not a force of attraction or a goal-oriented presence in the system; it simply depicts where the system is headed based on its rules of motion. Thus, in a culture that cultivates or shares values of autonomy, responsibility, independence, innovation, creativity, and proaction, the risk of short-term chaos is mitigated by an overall long-term sense of direction. A more suitable approach to manage the internal and external complexities that organisations are currently confronting is to alter their dominant culture under the principles of MBV.

Organisational values as "attractors of chaos": An emerging cultural change to manage organisational complexity

Business organisations are excellent representations of what in physics and mathematics are designated "chaotic" systems. Because a culture of innovation will be vital for organisational survival in the 21st century, the present paper proposes that viewing organisations in terms of "complexity theory" may assist leaders in fine-tuning managerial philosophies that provide orderly management emphasizing stability within a culture of organised chaos, for it is on the "boundary of chaos" that the greatest creativity occurs. It is argued that 21st century companies, as chaotic social systems, will no longer be effectively managed by rigid objectives (MBO) nor by instructions (MBI). Their capacity for self-organisation will be derived essentially from how their members accept a shared set of values or principles for action (MBV). Complexity theory deals with systems that show complex structures in time or space, often hiding simple deterministic rules. This theory holds that once these rules are found, it is possible to make effective predictions and even to control the apparent complexity. The state of chaos that self-organises, thanks to the appearance of the "strange attractor", is the ideal basis for creativity and innovation in the company. In this self-organised state of chaos, members are not confined to narrow roles, and gradually develop their capacity for differentiation and relationships, growing continuously toward their maximum potential contribution to the efficiency of the organisation. In this way, values act as organisers or "attractors" of disorder, which in the theory of chaos are equations represented by unusually regular geometric configurations that predict the long-term behaviour of complex systems. In business organisations (as in all kinds of social systems) the starting principles end up as the final principles in the long term. An attractor is a model representation of the behavioral results of a system. The attractor is not a force of attraction or a goal-oriented presence in the system; it simply depicts where the system is headed based on its rules of motion. Thus, in a culture that cultivates or shares values of autonomy, responsibility, independence, innovation, creativity, and proaction, the risk of short-term chaos is mitigated by an overall long-term sense of direction. A more suitable approach to manage the internal and external complexities that organisations are currently confronting is to alter their dominant culture under the principles of MBV.

La psicogeografía cultural del desarrollo humano

El objetivo del artículo es presentar las bases teóricas y conceptuales de una disciplina a medio camino entre la psicología, la geografía y la antropología: la “psicogeografía cultural del desarrollo humano” (PCDH). Entendiendo por PCDH el estudio del desarrollo psicológico humano dentro de ciertas “geografías vitales y psicológicas” como un río, montaña o valle; una institución social como la escuela o la familia; ciertos artefactos como una bandera, un libro o un mapa; ideologías como el nacionalismo o liberalismo; relaciones sociales entre, por ejemplo, padre e hijo y ciertas actividades realizadas

Una aproximació al coneixement del medi natural, social i cultural de l'educació primària a partir de la comprensió de la diversitat i la pluri identitat.

Projecte de recerca col·laborativa entre professors d’universitat, mestres i membres del Centre de Recursos Pedagògics del Gironés, realitzada durant l'any 2005. L'objectiu ha estat innovar el coneixement del medi natural, social i cultural. Davant l’actual procés de globalització de la societat que ha implicat, entre d’ altres coses, l’arribada de forts corrents migratoris i la presència d’alumnes d’arreu del món a les escoles catalanes, i en especial a les comarques de Girona, es revisa el Coneixement del Medi com una de les vies tradicionals i necessàries de l’adquisició de la identitat, treballant alhora l’acceptació de la diversitat cultural i de punts de vista que aquesta pot aportar. Els objectius fixats pel treball han estat elaborar una proposta didáctica interdisciplinar, oberta i flexible, per a treballar als diferents cicles de l'Educació Infantil i Primària, experimentant-la en diferents escoles; generar la plana web www.coneixmedi.net que recull les experiències i aportacions de les diferents escoles que hi participen i facilita la comunicació entre els alumnes dels centres; valorar els resultats de l'experiència, fent èmfasi en les percepcions dels nens i nenes participants i en la repercusió dins de l'escola i en d'altres centres i finalment validar un model d'innovació basat en la col·laboració i l'ús de recursos compartits. El pla general de funcionament s’ha articulat seguint el cicle bàsic de la recerca-acció. Entre els resultats obtinguts destaquen molt positivament l’elaboració de nou material basat en el treball de la diversitat, el coneixement de les actituds que es donen en els mestres, les famílies o els alumnes davant de la diversitat i l’alt nivell de participació i d’implicació de la major part dels membres del grup en la proposta i els intercanvis d’experiències i de reflexions generades.

Sensitivity of simulation results to competing SAM updates

Recently there has been a renewed research interest in the properties of non survey updates of input-output tables and social accounting matrices (SAM). Along with the venerable and well known scaling RAS method, several alternative new procedures related to entropy minimization and other metrics have been suggested, tested and used in the literature. Whether these procedures will eventually substitute or merely complement the RAS approach is still an open question without a definite answer. The performance of many of the updating procedures has been tested using some kind of proximity or closeness measure to a reference input-output table or SAM. The first goal of this paper, in contrast, is the proposal of checking the operational performance of updating mechanisms by way of comparing the simulation results that ensue from adopting alternative databases for calibration of a reference applied general equilibrium model. The second goal is to introduce a new updatin! g procedure based on information retrieval principles. This new procedure is then compared as far as performance is concerned to two well-known updating approaches: RAS and cross-entropy. The rationale for the suggested cross validation is that the driving force for having more up to date databases is to be able to conduct more current, and hopefully more credible, policy analyses.

Catalan Policies and Experiences on Cooperative Repositories

The Centre de Supercomputació de Catalunya (CESCA) together with the Consorci de Biblioteques Universitàries de Catalunya (CBUC) started in 1999 a cooperative repository, named TDR, to file in digital format the full-text of the read thesis at the universities of our country to spread them worldwide in open access preserving the intellectual copyright of the authors. This became operational in 2001 and today it is a service fully consolidated not only among the Catalan universities, but also used by other Spanish universities. Since then, there are four additional cooperative repositories which have been created: RECERCAT, for research papers; RACO, for scientific, cultural and erudite Catalan magazines; PADICAT, for archiving Catalan web sites; and MDC, for Catalan digital collections of pictures, maps, posters, old magazines... These five repositories have some common characteristics: they are open access, that is, they are accessible on the internet for free; they mostly comply with the Open Archive Initiative interoperability protocol for facilitating the efficient dissemination of content; and they have been built in a cooperative manner so that it is easy to adopt common procedures and to share the repository developing and managing costs, it permits more visibility of the indexed documents throughout the search engines, and a better provision for long-term preservation can be made. In this paper we present the common policy established for the Catalan cooperative repositories, we describe the five of them briefly, and we comment on the results obtained of our 6-year experience since the first one became operational.

Communication, cultural identities and the Olympic Games: the Barcelona’92 experience

This document includes the results of the research undertaken by the author on the media planning and coverage of the Barcelona'92 and its cultural implications.

L' esport a la Televisió de Catalunya: la creació d'un canal esportiu-cultural: Canal 33

Aquest treball es va presentar a l’Assignatura de Campus “Esport, Olimpisme i Societat” del curs 1995/96 i tracta de l'evolució de la programació esportiva a la Televisió de Catalunya des de la seva creació, així com dels orígens i història del Canal 33.

The Cultural Olympiad of Barcelona in 1992: Good points and bad points. Lessons for the Future

This text was presented at the Symposium “Olympic Arts and Culture Festivals: Recent Experiences and Future Design”, held in Chicago on the 23-24 June 2008. It provides with an analysis of good and bad points of the Cultural Olympiad of Barcelona’92 in order to discover, from that past experience, any lessons for future Cultural Olympiads and Olympic Movement cultural policy in general, as well as to rethink, in a critical way, Catalan cultural policies.

La Olimpiada Cultural de Barcelona en 1992: luces y sombras. Lecciones para el futuro

Este texto fue presentado en el Simposio “Olympic Arts and Culture Festivals: Recent Experiences and Future Design”, celebrado en Chicago del 23 al 24 de junio de 2008. Proporciona un análisis de las luces y sombras de la Olimpiada Cultural de Barcelona’92 con el fin de descubrir, a partir de esa experiencia previa, cualquier lección para las Olimpíadas Culturales futuras y la política cultural del movimiento olímpico en general, así como repensar, de una manera crítica, las políticas culturales catalanas.

The Cultural Olympiad: objectives, programme and development

Working paper analysing the Cultural Olympiad of Barcelona in 1992. This was published as a chapter of the book entitled "Olympic Games, media and cultural exchanges: the experience of the last four summer Olympic Games" and edited by M. Ladrón de Guevara and M. Bardají.

Earnings management and cultural values

Using theory and empirical data from social psychology to measure for cultural differences between countries, we study the effect of individualism as defined by Hofstede (1980) and egalitarianism as defined by Schwartz (1994, 1999, 2004) on earnings management. We find a significant influence of both cultural measures. In line with Licht et al. (2004), who argue that individualistic societies may be less susceptible to corruption, we find that countries scoring high on individualism tend to have lower levels of earnings management. In addition, we find that egalitarianism, defined as a society's cultural orientation with respect to intolerance for abuses of market and political power, is negatively related with earnings management. Our results are robust to different specifications and controls. The main message of this paper is that besides formal institutions, cultural differences are relevant to explain earnings management behaviour. We think that our work adds to the understanding of the importance of cultural values in managerial behaviour across countries contributing to the literature on earnings management and law and institutions.

Trans-Atlantic Pedagogy for Teaching Pre-Service Teachers ICT: Bringing forward cultural issues

Projecte de recerca elaborat a partir d’una estada a la Universitat de Toronto, Canadà, des d’octubre del 2006 a febrer del 2007. El projecte Barchito és un projecte Interrnacional que va involucrar tres universitats: La Universitat Autònoma de Barcelona, la Universitat de Toronto (Canadà) i la Universitat de Roosevelt (USA). El seu objectiu principal era posar en contacte estudiants de les tres universitats (de tres cursos diferents) per discutir al voltant de temes com ara l'ensenyament/aprenentatge i elements culturals de cada país. Aquest projecte presenta la natura de l'experiència des de la visió dels participants: alumnat i professorat. Superant diferències inicials de llengua, els participants van aprendre d'altra cultura, van aprendre sobre altres maneres d'ensenyar i van aprendre, en definitiva, sobre ells mateixos. L'eina d'aprenentatge col.laboratiu els va ajudar a sobrepassar el context immediat, emprant per això, l'eina tecnològica anomenada: Knowledge Forum.