From the transformation to the bancarization of the spanishsaving banks: an analysis of the results pursued

This research arises due to the current restructuring process in which is immersed the Spanish banking sector. The above mentioned process is carried out to try to reduce the doubts on the viability of the bank companies to average and long term and to be able to return again the confidence in the sector. Though the economic and financial crisis has concerned the whole banking sector, the subsector of the Spanish savings banks is the one that has experienced a major number of integrations (articulated by means of mergers, absorptions and across Institutional Protection Schemes -IPSs-), and the one that has met submitted to the bancarization process. Considering what has been said, the present paper analyses Spanish saving banks to try to discern whether thanks to that process the objectives pursued by the bank rearrangement have been fulfilled. To do this, the evolution of some important financial variables will be studied over a long period of time (1999-2012). The results suggest that not all the savings banks have seen improved their ratios of efficiency, solvency, financial gap and social work, which indicates that there is still much to be done in order to rectify the problems affecting the studied sector.

Determining factors of the innovative behavior of cooperatives: an analysis of the case of Castilla y León

Cooperatives have a long historical experience in the Spanish economy and have demonstrated their ability to compete against traditional firms in the market. To maintain this capability, while taking advantage of the competitive advantages associated with their idiosyncrasies as social economy enterprises, they should take into consideration that the economy is increasingly globalized and increasingly knowledge-based, especially with regards to technological content. As a consequence, the innovative capacity appears to be a key aspect in order to be able to challenge competitors. This article characterizes the innovative behavior of cooperatives in the region of Castile and Leon and analyses the internal and external factors affecting their innovative performance, based on data from a survey of 581 cooperatives. The results of the empirical analysis, which is performed by multivariate binary logistic regression on various types of innovation, lead us to identify the size of the organizations, the existence of planning, the R & D activities and the human capital as the main determining factors.

Indicadores de sostenibilidad ambiental en el periurbano de la ciudad de Mar del Plata, Argentina

Los indicadores de sostenibilidad conforman herramientas útiles para la toma de decisiones. Las ciudades latinoamericanas, y especialmente las áreas de expansión sin planificación adecuada, enfrentan desafíos cada vez mayores para revertir problemáticas que amenazan su sostenibilidad. El presente trabajo evalúa de manera preliminar, la sostenibilidad ambiental del periurbano de Mar del Plata (Argentina) tomando como referencia algunos de los indicadores propuestos por el modelo del Banco Interamericano de Desarrollo en la Iniciativa Ciudades Emergentes y Sostenibles. Se construyó un índice sintético (Índice de Sostenibilidad Ambiental, ISA) que integra trece indicadores agrupados en ocho temas. Las situaciones más críticas (ISA: 0,45-0,558) se identifican fundamentalmente en zonas en las que se desarrollan actividades rurales y en las que se localizan asentamientos de carácter precario. El estudio realizado profundiza en el conocimiento de la dimensión ambiental de la sostenibilidad, enfatizando en el análisis de los contrastes internos del periurbano marplatense.

La capilla del Cristo de las Descalzas Reales de Madrid: arte y liturgia en el siglo XVI

Estudio de la capilla del Cristo de las Descalzas Reales de Madrid que analiza la historia de la obra, sus aspectos artísticos y su significado. Las circunstancias de la fundación del monasterio explican la función de la capilla como escenario de las especiales ceremonias litúrgicas del Viernes Santo y del Domingo de Resurrección instauradas en razón de su origen, lo que permite asimismo fijar su ejecución entre las obras de su etapa fundacional, probablemente entre 1560 y 1565, diseñada por artistas de los talleres reales. Se aporta noticia documental sobre Diego de Urbina y Juan de Cerecedo como pintores al servicio de Juana de Austria en ese momento.

La parroquia de San Miguel de Sagra y San Gil de Madrid en el siglo XVI. Aportaciones documentales

Una serie de documentos inéditos relativos a la antigua parroquia de San Miguel de Sagra y San Gil, localizada muy próxima a la entrada principal del Alcázar de Madrid, así como su posterior derribo y traslado en 1548 con nuevo edificio en el lado suroriental del Palacio, permite profundizar en un proyecto urbano largo tiempo madurado y culminado en la conformación de un espacio abierto y regularizado, emblemático y representativo, que resultó ser la plaza situada frente a la portada principal del Alcázar.

Los puestos de libros en las gradas de San Felipe el Real de Madrid en el siglo XVIII

During the Eighteenth Century, the loggia or gradas of the Church of San Felipe el Real in Madrid combined its traditional character as a popular market-place for leaflets, broadsides and flyers with a new commercial space for a motley variety of works responding to the diverse changes in mentality parallel to the creation of a new, independent, public opinion. The study of the works sold in these very dynamic book stalls, a true commercial crossroads of the old and the new, could serve as a seismograph of the significant collision between ideas and ways of life that took place under the apparent stability of the last century of the ancien regime.

A relevância do justo valor: entidades com títulos cotados nas bolsas de Lisboa e de Madrid

Dissertação de Mestrado, Contabilidade, Faculdade de Economia, Universidade do Algarve, 2015

Volatility and VaR Forecasting in the Madrid Stock Exchange

This paper provides an empirical study to assess the forecasting performance of a wide range of models for predicting volatility and VaR in the Madrid Stock Exchange. The models performance was measured by using different loss functions and criteria. The results show that FIAPARCH processes capture and forecast more accurately the dynamics of IBEX-35 returns volatility. It is also observed that assuming a heavy-tailed distribution does not improve models ability for predicting volatility. However, when the aim is forecasting VaR, we find evidence of that the Student’s t FIAPARCH outperforms the models it nests the lower the target quantile.

Banco de competências: ferramenta de apoio à decisão de capacitação das coleções de microrganismos da Embrapa.

Este trabalho teve como objetivo destacar a importância do banco de competências como ferramenta de Tecnologia da Informação no apoio ao processo decisório de capacitação e treinamento das equipes dos projetos GESTCOL e Rede de Recursos Genéticos Microbianos da Embrapa, como um passo rumo à Gestão do Conhecimento dentro dos projetos da Embrapa.

Análise do efeito de implementação de armazenamento térmico em banco de gelo e armazenamento elétrico em baterias Sódio-Enxofre (NaS) sobre o custo de exploração de edifícios de serviços

Trabalho Final de Mestrado para obtenção do grau de Mestre em Engenharia Mecânica

Assistência e apoio no Gabinete de Relações Internacionais Universidade CEU San Pablo, Madrid

O presente relatório foca-se na descrição do estágio realizado no Gabinete de Relações Internacionais na Universidad CEU San Pablo em Madrid no âmbito do mestrado em Empreendedorismo e Internacionalização. A primeira parte do relatório visa uma análise geral do Processo de Bolonha, dando especial atenção ao programa Erasmus. Depois disto, consta a descrição das tarefas realizadas durante o estágio internacional. Por último, irá encontrar-se a apreciação final deste trabalho e do estágio.

Contingent convertible debt: The case study of Banco Comercial Português

A Work Project, presented as part of the requirements for the Award of a Masters Degree in Finance from the NOVA – School of Business and Economics