The role of rehabilitation of building in the urban integration, social cohesion and environmental responsibility

In the framework ofthe National Research Plan2008-2011, our research poses estrategy for the design and evaluation of plans and programmes of urban integrated regeneration. The objective is to develop a study on the role of rehabilitation of buildings in concepts like urban integration, social cohesion and environmental responsibility. The research proposes a methodological tool for evaluating urban regeneration processes from a holistic perspective that can serve as a guide for governments and technical teams to address intervention in consolidated urban areas with physical and socio-economic problems. The development of the tool has inevitably led to delve into different areas where you can intervene but has not lost sight of the complex interplay of factors involved in the process.It is an open source tool to visualize Urban Integrated Rehabilitation processes.

Use of Headed Reinforcement Bars in Contruction. A Theoretical Approach to Determine the Dimensions of Anchorage Plates and Experimental Tests on Knee Joints Subjected to a Closing Moment

In order to reduce costs and time while improving quality, durability and sustainability in structural concrete constructions, a widely used material nowadays, special care must be taken in some crucial phases of the project and execution, including the structure design and calculation, the dosage, dumping and curing of concrete: another important aspect is the proper design and execution of assembly plans and construction details. The framework, a name designating the whole reinforcement bars cage already assembled as shown in the drawings, can be made up of several components and implies higher or lower industrialization degree. The framework costs constitute about one third of the price per cubic meter placed in concrete works. The best solutions from all points of view are clearly those involving an easier processing to achieve the same goal, and consequently carrying a high degree of industrialization, meaning quality and safety in the work. This thesis aims to provide an indepth analysis of a relatively new type of anchoring by plate known as headed reinforcement bars, which can potentially replace standard or L-shaped hooks, improving the cleaning of construction details and enabling a faster, more flexible, and therefore a more economical assembly. A literature review on the topic and an overview of typical applications is provided, followed by some examples of specific applications in real projects. Since a strict theoretical formulation used to provide the design plate dimensions has not yet been put forward, an equation is proposed for the side-face blowout strength of the anchorage, based on the capacity of concrete to carry concentrated loads in cases in which no transverse reinforcement is provided. The correlation of the calculated ultimate load with experimental results available in the literature is given. Besides, the proposed formulation can be expanded to cases in which a certain development length is available: using a software for nonlinear finite element analysis oriented to the study of reinforced concrete, numerical tests on the bond-bearing interaction are performed. The thesis ends with a testing of eight corner joints subjected to a closing moment, held in the Structures Laboratory of the Polytechnic University of Madrid, aiming to check whether the design of such plates as stated is adequate for these elements and whether an element with plate-anchored reinforcement is equivalent to one with a traditional construction detail.

Exploring strategic farming choices to respond to mitigation and adaptation to climate change

Las alteraciones del sistema climático debido al aumento de concentraciones de gases de efecto invernadero (GEI) en la atmósfera, tendrán implicaciones importantes para la agricultura, el medio ambiente y la sociedad. La agricultura es una fuente importante de emisiones de gases de efecto invernadero (globalmente contribuye al 12% del total de GEI), y al mismo tiempo puede ser parte de la solución para mitigar las emisiones y adaptarse al cambio climático. Las acciones frente al desafío del cambio climático deben priorizar estrategias de adaptación y mitigación en la agricultura dentro de la agenda para el desarrollo de políticas. La agricultura es por tanto crucial para la conservación y el uso sostenible de los recursos naturales, que ya están sometidos a impactos del cambio climático, al mismo tiempo que debe suministrar alimentos para una población creciente. Por tanto, es necesaria una coordinación entre las actuales estrategias de política climática y agrícola. El concepto de agricultura climáticamente inteligente ha surgido para integrar todos estos servicios de la producción agraria. Al evaluar opciones para reducir las amenazas del cambio climático para la agricultura y el medio ambiente, surgen dos preguntas de investigación: • ¿Qué información es necesaria para definir prácticas agrarias inteligentes? • ¿Qué factores influyen en la implementación de las prácticas agrarias inteligentes? Esta Tesis trata de proporcionar información relevante sobre estas cuestiones generales con el fin de apoyar el desarrollo de la política climática. Se centra en sistemas agrícolas Mediterráneos. Esta Tesis integra diferentes métodos y herramientas para evaluar las alternativas de gestión agrícola y políticas con potencial para responder a las necesidades de mitigación y adaptación al cambio climático. La investigación incluye enfoques cuantitativos y cualitativos e integra variables agronómicas, de clima y socioeconómicas a escala local y regional. La investigación aporta una recopilación de datos sobre evidencia experimental existente, y un estudio integrado sobre el comportamiento de los agricultores y las posibles alternativas de cambio (por ejemplo, la tecnología, la gestión agrícola y la política climática). Los casos de estudio de esta Tesis - el humedal de Doñana (S España) y la región de Aragón (NE España) - permiten ilustrar dos sistemas Mediterráneos representativos, donde el uso intensivo de la agricultura y las condiciones semiáridas son ya una preocupación. Por este motivo, la adopción de estrategias de mitigación y adaptación puede desempeñar un papel muy importante a la hora de encontrar un equilibrio entre la equidad, la seguridad económica y el medio ambiente en los escenarios de cambio climático. La metodología multidisciplinar de esta tesis incluye una amplia gama de enfoques y métodos para la recopilación y el análisis de datos. La toma de datos se apoya en la revisión bibliográfica de evidencia experimental, bases de datos públicas nacionales e internacionales y datos primarios recopilados mediante entrevistas semi-estructuradas con los grupos de interés (administraciones públicas, responsables políticos, asesores agrícolas, científicos y agricultores) y encuestas con agricultores. Los métodos de análisis incluyen: meta-análisis, modelos de gestión de recursos hídricos (modelo WAAPA), análisis multicriterio para la toma de decisiones, métodos estadísticos (modelos de regresión logística y de Poisson) y herramientas para el desarrollo de políticas basadas en la ciencia. El meta-análisis identifica los umbrales críticos de temperatura que repercuten en el crecimiento y el desarrollo de los tres cultivos principales para la seguridad alimentaria (arroz, maíz y trigo). El modelo WAAPA evalúa el efecto del cambio climático en la gestión del agua para la agricultura de acuerdo a diferentes alternativas políticas y escenarios climáticos. El análisis multicriterio evalúa la viabilidad de las prácticas agrícolas de mitigación en dos escenarios climáticos de acuerdo a la percepción de diferentes expertos. Los métodos estadísticos analizan los determinantes y las barreras para la adopción de prácticas agrícolas de mitigación. Las herramientas para el desarrollo de políticas basadas en la ciencia muestran el potencial y el coste para reducir GEI mediante las prácticas agrícolas. En general, los resultados de esta Tesis proporcionan información sobre la adaptación y la mitigación del cambio climático a nivel de explotación para desarrollar una política climática más integrada y ayudar a los agricultores en la toma de decisiones. Los resultados muestran las temperaturas umbral y la respuesta del arroz, el maíz y el trigo a temperaturas extremas, siendo estos valores de gran utilidad para futuros estudios de impacto y adaptación. Los resultados obtenidos también aportan una serie de estrategias flexibles para la adaptación y la mitigación a escala local, proporcionando a su vez una mejor comprensión sobre las barreras y los incentivos para su adopción. La capacidad de mejorar la disponibilidad de agua y el potencial y el coste de reducción de GEI se han estimado para estas estrategias en los casos de estudio. Estos resultados podrían ayudar en el desarrollo de planes locales de adaptación y políticas regionales de mitigación, especialmente en las regiones Mediterráneas. ABSTRACT Alterations in the climatic system due to increased atmospheric concentrations of greenhouse gas emissions (GHG) are expected to have important implications for agriculture, the environment and society. Agriculture is an important source of GHG emissions (12 % of global anthropogenic GHG), but it is also part of the solution to mitigate emissions and to adapt to climate change. Responses to face the challenge of climate change should place agricultural adaptation and mitigation strategies at the heart of the climate change agenda. Agriculture is crucial for the conservation and sustainable use of natural resources, which already stand under pressure due to climate change impacts, increased population, pollution and fragmented and uncoordinated climate policy strategies. The concept of climate smart agriculture has emerged to encompass all these issues as a whole. When assessing choices aimed at reducing threats to agriculture and the environment under climate change, two research questions arise: • What information defines smart farming choices? • What drives the implementation of smart farming choices? This Thesis aims to provide information on these broad questions in order to support climate policy development focusing in some Mediterranean agricultural systems. This Thesis integrates methods and tools to evaluate potential farming and policy choices to respond to mitigation and adaptation to climate change. The assessment involves both quantitative and qualitative approaches and integrates agronomic, climate and socioeconomic variables at local and regional scale. The assessment includes the collection of data on previous experimental evidence, and the integration of farmer behaviour and policy choices (e.g., technology, agricultural management and climate policy). The case study areas -- the Doñana coastal wetland (S Spain) and the Aragón region (NE Spain) – illustrate two representative Mediterranean regions where the intensive use of agriculture and the semi-arid conditions are already a concern. Thus the adoption of mitigation and adaptation measures can play a significant role for reaching a balance among equity, economic security and the environment under climate change scenarios. The multidisciplinary methodology of this Thesis includes a wide range of approaches for collecting and analysing data. The data collection process include revision of existing experimental evidence, public databases and the contribution of primary data gathering by semi-structured interviews with relevant stakeholders (i.e., public administrations, policy makers, agricultural advisors, scientist and farmers among others) and surveys given to farmers. The analytical methods include meta-analysis, water availability models (WAAPA model), decision making analysis (MCA, multi-criteria analysis), statistical approaches (Logistic and Poisson regression models) and science-base policy tools (MACC, marginal abatement cost curves and SOC abatement wedges). The meta-analysis identifies the critical temperature thresholds which impact on the growth and development of three major crops (i.e., rice, maize and wheat). The WAAPA model assesses the effect of climate change for agricultural water management under different policy choices and climate scenarios. The multi-criteria analysis evaluates the feasibility of mitigation farming practices under two climate scenarios according to the expert views. The statistical approaches analyses the drivers and the barriers for the adoption of mitigation farming practices. The science-base policy tools illustrate the mitigation potential and cost effectiveness of the farming practices. Overall, the results of this Thesis provide information to adapt to, and mitigate of, climate change at farm level to support the development of a comprehensive climate policy and to assist farmers. The findings show the key temperature thresholds and response to extreme temperature effects for rice, maize and wheat, so such responses can be included into crop impact and adaptation models. A portfolio of flexible adaptation and mitigation choices at local scale are identified. The results also provide a better understanding of the stakeholders oppose or support to adopt the choices which could be used to incorporate in local adaptation plans and mitigation regional policy. The findings include estimations for the farming and policy choices on the capacity to improve water supply reliability, abatement potential and cost-effective in Mediterranean regions.

Del plan a la realidad: gobernanza y toma de decisiones en los procesos de regeneración urbana. El caso de Boston = From plan to reality: governance and decision-making in urban regeneration processes in Boston

En las últimas tres décadas, las dinámicas de restructuración económica a nivel global han redefinido radicalmente el papel de las ciudades. La transición del keynesianismo al neoliberalismo ha provocado un cambio en las políticas urbanas de los gobiernos municipales, que han abandonado progresivamente las tareas de regulación y redistribución para centrarse en la promoción del crecimiento económico y la competitividad. En este contexto, muchas voces críticas han señalado que la regeneración urbana se ha convertido en un vehículo de extracción de valor de la ciudad y está provocando la expulsión de los ciudadanos más vulnerables. Sin embargo, la regeneración de áreas consolidadas supone también una oportunidad de mejora de las condiciones de vida de la población residente, y es una política necesaria para controlar la expansión de la ciudad y reducir las necesidades de desplazamiento, promoviendo así ciudades más sostenibles. Partiendo de la hipótesis de que la gobernanza de los procesos de regeneración urbana es clave en el resultado final de las operaciones y determina el modelo de ciudad resultante, el objetivo de esta investigación es verificar si la regeneración urbana es necesariamente un mecanismo de extracción de valor o si puede mejorar la calidad de vida en las ciudades a través de la participación de los ciudadanos. Para ello, propone un marco de análisis del proceso de toma de decisiones en los planes de regeneración urbana y su impacto en los resultados de los planes, tomando como caso de estudio la ciudad de Boston, que desde los años 1990 trata de convertirse en una “ciudad de los barrios”, fomentando la participación ciudadana al tiempo que se posiciona en la escena económica global. El análisis se centra en dos operaciones de regeneración iniciadas a finales de los años 1990. Por un lado, el caso de Jackson Square nos permite comprender el papel de la sociedad civil y el tercer sector en la regeneración de los barrios más desfavorecidos, en un claro ejemplo de urbanismo “desde abajo” (bottom-up planning). Por otro, la reconversión del frente marítimo de South Boston para la construcción del Distrito de Innovación nos acerca a las grandes operaciones de regeneración urbana con fines de estímulo económico, tradicionalmente vinculadas a los centros financieros (downtown) y dirigidas por las élites gubernamentales y económicas (la growth machine) a través de procesos más tecnocráticos (top-down planning). La metodología utilizada consiste en el análisis cualitativo de los procesos de toma de decisiones y la relación entre los agentes implicados, así como de la evaluación de la implementación de dichas decisiones y su influencia en el modelo urbano resultante. El análisis de los casos permite afirmar que la gobernanza de los procesos de regeneración urbana influye decisivamente en el resultado final de las intervenciones; sin embargo, la participación de la comunidad local en la toma de decisiones no es suficiente para que el resultado de la regeneración urbana contrarreste los efectos de la neoliberalización, especialmente si se limita a la fase de planeamiento y no se extiende a la fase de ejecución, y si no está apoyada por una movilización política de mayor alcance que asegure una acción pública redistributiva. Asimismo, puede afirmarse que los procesos de regeneración urbana suponen una redefinición del modelo de ciudad, dado que la elección de los espacios de intervención tiene consecuencias sobre el equilibrio territorial de la ciudad. Los resultados de esta investigación tienen implicaciones para la disciplina del planeamiento urbano. Por una parte, se confirma la vigencia del paradigma del “urbanismo negociado”, si bien bajo discursos de liderazgo público y sin apelación al protagonismo del sector privado. Por otra parte, la planificación colaborativa en un contexto de “responsabilización” de las organizaciones comunitarias puede desactivar la potencia política de la participación ciudadana y servir como “amortiguador” hacia el gobierno local. Asimismo, la sustitución del planeamiento general como instrumento de definición de la ciudad futura por una planificación oportunista basada en la actuación en áreas estratégicas que tiren del resto de la ciudad, no permite definir un modelo coherente y consensuado de la ciudad que se desea colectivamente, ni permite utilizar el planeamiento como mecanismo de redistribución. ABSTRACT In the past three decades, the dynamics of global economic restructuring have radically redefined the role of cities. The transition from keynesianism to neoliberalism has caused a shift in local governments’ urban policies, which have progressively abandoned the tasks of regulation and redistribution to focus on promoting economic growth and competitiveness. In this context, many critics have pointed out that urban regeneration has become a vehicle for extracting value from the city and is causing the expulsion of the most vulnerable citizens. However, regeneration of consolidated areas is also an opportunity to improve the living conditions of the resident population, and is a necessary policy to control the expansion of the city and reduce the need for transportation, thus promoting more sustainable cities. Assuming that the governance of urban regeneration processes is key to the final outcome of the plans and determines the resulting city model, the goal of this research is to verify whether urban regeneration is necessarily a value extraction mechanism or if it can improve the quality of life in cities through citizens’ participation. It proposes a framework for analysis of decision-making in urban regeneration processes and their impact on the results of the plans, taking as a case study the city of Boston, which since the 1990s is trying to become a "city of neighborhoods", encouraging citizen participation, while seeking to position itself in the global economic scene. The analysis focuses on two redevelopment plans initiated in the late 1990s. The Jackson Square case allows us to understand the role of civil society and the third sector in the regeneration of disadvantaged neighborhoods, in a clear example of bottom-up planning. On the contrary, the conversion of the South Boston waterfront to build the Innovation District takes us to the big redevelopment efforts with economic stimulus’ goals, traditionally linked to downtowns and led by government and economic elites (the local “growth machine”) through more technocratic processes (top-down planning). The research is based on a qualitative analysis of the processes of decision making and the relationship between those involved, as well as the evaluation of the implementation of those decisions and their influence on the resulting urban model. The analysis suggests that the governance of urban regeneration processes decisively influences the outcome of interventions; however, community engagement in the decision-making process is not enough for the result of the urban regeneration to counteract the effects of neoliberalization, especially if it is limited to the planning phase and does not extend to the implementation of the projects, and if it is not supported by a broader political mobilization to ensure a redistributive public action. Moreover, urban regeneration processes redefine the urban model, since the choice of intervention areas has important consequences for the territorial balance of the city. The results of this study have implications for the discipline of urban planning. On the one hand, it confirms the validity of the "negotiated planning" paradigm, albeit under public leadership discourse and without a direct appeal to the leadership role of the private sector. On the other hand, collaborative planning in a context of "responsibilization" of community based organizations can deactivate the political power of citizen participation and serve as a "buffer" towards the local government. Furthermore, the replacement of comprehensive planning, as a tool for defining the city's future, by an opportunistic planning based on intervention in strategic areas that are supposed to induce change in the rest of the city, does not allow a coherent and consensual urban model that is collectively desired, nor it allows to use planning as a redistribution mechanism.

De la isla de Menorca a las costas sur y este de Inglaterra: análisis del prototipo de torre Martello = From the island of Minorca to the south and east coasts of England: analysis of the prototype of the Martello tower

Esta tesis doctoral desarrolla una investigación original sobre las torres defensivas de Menorca y las torres Martello de las costas sur y este de Inglaterra. Con respecto a las torres menorquinas, se distinguen las de Alcaufar y Punta Prima, construidas por ingenieros militares españoles, en 1786; de las levantadas por el ejército británico durante su último periodo de dominación de la isla, entre 1798 y 1802. Estos ingenieros reales británicos construyen las torres Martello en las costas inglesas, entre 1805 y 1812; y otras, semejantes a ellas, en el resto de su Imperio, hasta mediados del siglo XIX. La falta de estudios que relacionen las torres defensivas de Menorca y las Martello inglesas dentro del marco disciplinario de la construcción, ha constituido la justificación de esta investigación. La hipótesis de trabajo plantea un objetivo principal: el estudio y análisis comparativo entre ellas, que se desarrolla en varios niveles de análisis: morfológico, físico-constructivo, de visibilidades; pero también territorial, histórico y poliorcético. Esta tesis cuestiona, en consecuencia, la idea tradicionalmente aceptada de que las torres Martello tomaran la torre de Mortella, en Córcega, o cualquiera de las denominadas torres "preMartello", como referencia para crear su prototipo. La metodología empleada combina los trabajos de gabinete con una intensa labor de campo, en la que se documentaron cincuenta y siete torres, catorce en Menorca y cuarenta y tres en Inglaterra. Se han redactado sus correspondientes fichas de datos, que incluyen aspectos generales - morfológicos y constructivos -, así como documentación fotográfica. Se han elaborado los levantamientos morfológicos de siete de estas torres, aquellas que por sus particularidades constructivas, o bien representan un determinado tipo de torre, o bien se distinguen del resto. Del mismo modo, se han desarrollado los levantamientos físico-constructivos y la caracterización de materiales de las cuatro torres más relevantes para este estudio: las menorquinas Alcaufar y Punta Prima, y las torres 24 y C, que ejemplifican, respectivamente, las levantadas en las costas sur y este de Inglaterra. El sistemático método de trabajo llevado a cabo ha favorecido la investigación y ha ayudado a obtener conclusiones que verifican la hipótesis planteada en la tesis y cumplen los objetivos establecidos al comienzo de la misma. ABSTRACT This doctoral thesis develops an original research on the defensive towers of Minorca, and the Martello towers on the south and east coasts of England. Regarding the Minorcan towers, Alcaufar and Punta Prima, built by the Spanish military engineers in 1786, must be distinguished from those erected by the British Army during its last period of domination of the island between 1798 and 1802. These Royal Engineers build the Martello towers on the English coasts between 1805 and 1812; and others, similar to them, in the rest of their Empire until the middle of the 19th century. The lack of studies linking these Minorcan and English towers, within the disciplinary framework of construction, has been the justification for this research. The hypothesis poses a main goal: the study and comparative analysis of them, which takes place at several levels of analysis: morphological, constructive, of visibilities; but also territorial, historical and poliorcetic. Consequently, this thesis questions the traditionally accepted notion that the Martello towers took the Corsican Mortella Tower, or any of the so-called “preMartello” towers as a reference to create their prototype. The methodology combines the cabinet works with significant fieldwork, in which fifty seven towers were documented, fourteen in Minorca and forty three in England. The corresponding data sheets were drafted including general aspects - morphological and constructive-, and photographic documentation. Morphological survey plans were developed for seven of these towers due to their construction peculiarities, which either denote a specific type of tower or makes it stand out from the rest. Likewise, constructive survey plans and material characterisation sheets of the four more relevant towers in this study were developed: the Minorcan Alcaufar and Punta Prima, and towers 24 and C, both respectively exemplifying those built on the south and east coasts of England. The systematic method of work encouraged the research and helped to draw conclusions that both confirm the hypothesis raised in the thesis and meet the objectives established at the beginning of it.

Fostering English-taught higher education programs in a Spanish university: the "TechEnglish" innovative project

In recent years, coinciding with adjustments to the Bologna process, many European universities have attempted to improve their international profile by increasing course offerings in English. According to the Institute of International Education (IIE), Spain has notably increased its English-taught higher education programs, ranking fifth in the list of European countries by number of English-taught Master's programs in 2013. This article presents the goals and preliminary results of an on-going innovative education project (TechEnglish) that aims to promote course offerings in English at the Technical University of Madrid (Universidad Politécnica de Madrid, UPM). The UPM is the oldest and largest of all Technical Universities in Spain. It offers graduate and postgraduate programs that cover all the engineering disciplines as well as architecture. Currently, the UPM has no specific bilingual/multilingual program to promote teaching in English, although there is an Educational Model Whitepaper (with a focus on undergraduate degrees) that promotes the development of activities like an International Semester or a unique shared curriculum. The TechEnglish project is an attempt to foster courses taught in English at 7 UPM Technical Schools, including students and 80 faculty members. Four tasks were identified: (1) to design a university wide framework to increase course offerings, (2) to identify administrative difficulties, (3) to increase visibility of courses offered, and (4) to disseminate the results of the project. First, to design a program we analyzed existing programs at other Spanish universities, and other projects and efforts already under way at the UPM. A total of 13 plans were analyzed and classified according to their relation with students (learning), professors (teaching), administration, course offerings, other actors/institutions within the university (e.g., language departments), funds and projects, dissemination activities, mobility plans and quality control. Second, to begin to identify administrative and organizational difficulties in the implementation of teaching in English, we first estimated the current and potential course offerings at the undergraduate level at the UPM using a survey (student, teacher and administrative demand, level of English and willingness to work in English). Third, to make the course offerings more attractive for both Spanish and international students we examined the way the most prestigious universities in Spain and in Europe try to improve the visibility of their academic offerings in English. Finally, to disseminate the results of the project we created a web page and a workspace on the Moodle education platform and prepared conferences and workshops within the UPM. Preliminary results show that increasing course offerings in English is an important step to promote the internationalization of the University. The main difficulties identified at the UPM were related to how to acknowledge/certify the departments, teachers or students involved in English courses, how students should register for the courses, how departments should split and schedule the courses (Spanish and English), and the lack of qualified personnel. A concerted effort could be made to increase the visibility of English-taught programs offered on-line.

Anisakis infection in allis shad, Alosa alosa (Linnaeus, 1758), and twaite shad, Alosa fallax (Lacépède, 1803), from Western Iberian Peninsula Rivers : zoonotic and ecological implications

Acknowledgments The authors would like to thank M. N. Cueto and J.M. Antonio (ECOBIOMAR) for their excellent technical support and also Rodrigo López for making the map of the study area. We also thank the personal of the Vigo IEO, for providing information about shad captures at sea collected on the basis of national program (AMDES) included in the European Data Collection Framework (DCF) project. We are also grateful to Comandancia Naval de Tui for providing fishing data. M. Bao is supported by a PhD grant from the University of Aberdeen and also by financial support of the contract from the EU Project PARASITE (grant number 312068). This study was partially supported by a PhD grant from the Portuguese Foundation for Science and Technology (FCT) SFRH/BD/44892/2008) and partially supported by the European Regional Development Fund (ERDF) through the COMPETE—Operational Competitiveness Programme and national funds through Foundation for Science and Technology (FCT), under the project BPEst-C/MAR/ LA0015/2013. The authors thank the staff of the Station of Hydrobiology of the USC BEncoro do Con^ due their participation in the surveys. This work has been partially supported by the project 10PXIB2111059PR of the Xunta de Galicia and the project MIGRANET of the Interreg IV BSUDOE (South-West Europe) Territorial Cooperation Programme (SOE2/P2/E288). D.J. Nachón is supported by a PhD grant from the Xunta de Galicia (PRE/2011/198)

Evidências internacionais dos efeitos da atuação de investidores institucionais na anomalia dos accruals

Os investidores institucionais, tais como os fundos de pensão, são entidades que administram recursos de numerosos grupos de pessoas, e que, por isso, tendem a gerir grandes carteiras de investimento e a ter incentivos para se tornar bem informados. Por isso, espera-se que eles sejam bons representantes da classe de investidores sofisticados, ou bem informados, e que o aumento de sua presença no mercado de capitais melhore a velocidade do ajuste do preço, contribuindo para evitar ineficiências do mercado, como, por exemplo, a anomalia dos accruals (Sloan, 1996), que é um atraso na revisão dos preços diante da informação sobre a magnitude dos accruals do lucro. Assim, o objetivo deste estudo é analisar, em diversos países, o impacto da participação de investidores institucionais sobre a anomalia dos accruals. São formuladas quatro hipóteses: (i) a proporção de informações sobre o desempenho futuro da empresa refletida no preço de sua ação é positivamente relacionada com o percentual de participação societária dos investidores institucionais; (ii) quanto maior for o percentual da participação societária de investidores institucionais, maior será a qualidade do lucro; (iii) quanto maior for a value relevance do lucro, maior será a anomalia dos accruals; e (iv) quanto maior for a participação societária dos investidores institucionais, menor será a anomalia dos accruals. Para se atingir os objetivos, a bibliografia sobre investidores institucionais, investidores sofisticados e anomalia dos accruals é analisada e cotejada com a literatura sobre value relevance e qualidade do lucro, em especial com o de Dechow e Dichev (2002). A pesquisa empírica utiliza dados de empresas não financeiras listadas nas bolsas de valores da Alemanha, do Brasil, da Espanha, dos Estados Unidos, da França, da Holanda, da Itália, do Reino Unido e da Suíça, e cobre o período de 2004 a 2013. A amostra contempla entre 2.314 e 4.076 empresas, totalizando entre 15.902 e 20.174 observações, a depender do modelo estimado. São realizadas regressões com dados em painel, uma abordagem de equações aparentemente não relacionadas (Seemingly Unrelated Regression - SUR) e a aplicação do teste de Mishkin (1983). Constata-se que nos Estados Unidos e na Itália os investidores institucionais são mais bem informados que os demais, e que na Alemanha, nos Estados Unidos, na França e no Reino Unido eles exercem um papel de monitoramento, pressionando por lucros de qualidade superior. Não se constata, porém, relação positiva entre value relevance do lucro e anomalia dos accruals, nem entre participação de investidores institucionais e esta anomalia. O estudo enriquece a discussão sobre o mercado ser eficiente a longo prazo, mas apresentar anomalias no curto prazo; enfatiza a importância de o investidor ser capaz de converter informações em previsão e avaliação; discute o vínculo entre o papel de monitoramento dos investidores institucionais e a qualidade do lucro; e avalia a relação entre a atuação destes investidores e o prices lead earnings.

As entidades fechadas de previdência complementar enquanto instrumentos de atuação do Estado na economia

Com as transformações ocorridas nas últimas décadas do século XX, notadamente a expansão financeira pela qual passou o capitalismo, o enfraquecimento fiscal dos Estados nacionais e o questionamento aos sistemas de previdência pública por repartição, ganham importância em todo o mundo os fundos de pensão. Estes fundos, ao lado de outros investidores institucionais, como seguradoras e fundos de investimentos, passam a cumprir papel central no mercado acionário e também no mercado de títulos públicos e privados. Com o objetivo de realizar lucros para pagar benefícios de aposentadoria para os seus participantes, os fundos de pensão arrecadam e concentram poupança privada pulverizada, transformando-a em um ativo poderoso. No Brasil, as Entidades Fechadas de Previdência Complementar nomenclatura jurídica dos fundos de pensão possuem um total de 702 bilhões de reais em ativos, que se concentram nas três maiores entidades do país: Previ, Petros e Funcef. Em comum, estes três fundos têm o fato de serem patrocinados por empresas estatais, o que, pela legislação vigente, dá ao Poder Executivo a competência de indicar metade de seus dirigentes, incluindo o seu presidente que possui voto de desempate. O presente trabalho pesquisou o papel que estas três EFPCs cumprem enquanto instrumento de atuação do Estado no domínio econômico, especialmente para o provimento de fundos para o desenvolvimento. Para isso, primeiramente, o estudo explora o movimento de expansão financeira do capitalismo e a crise no padrão de desenvolvimento brasileiro. Depois, investiga de maneira sistemática o arcabouço jurídico que regula os fundos de pensão; e, por fim, analisa a alocação dos seus investimentos e o perfil dos seus dirigentes.

O papel do terceiro facilitador na conciliação de conflitos previdenciários

A conciliação judicial de conflitos previdenciários envolve, em geral, uma proposta de acordo baseada na renúncia pelo indivíduo de parte dos valores do benefício em atraso em um processo no qual a decisão contrária ao entendimento do Instituto Nacional do Segurado Social (INSS) é muito provável. Como regra, há um notório desequilíbrio de poder envolvendo, de um lado, um litigante ocasional (indivíduo) e, de outro, um litigante habitual (INSS). O presente trabalho pretende discutir qual o papel do terceiro facilitador nesse contexto, de modo a legitimar a prática existente e avançar para uma mudança de paradigma. Para tanto, parte-se da tese de que a conciliação deve ser adequada ao conflito que se pretende tratar, cabendo ao terceiro facilitador atuar de acordo com as peculiaridades desse conflito. Desse modo, propõe-se que, para o tratamento do conflito previdenciário, o conceito de conciliador deve ser entendido em termos amplos, abrangendo não apenas o conciliador leigo, mas também o juiz conciliador e o Judiciário como conciliador interinstitucional. Embora cada uma dessas atuações possua características próprias, sustenta-se que o ponto em comum é o respeito a um devido processo legal mínimo que possibilite a existência de uma base adequada de poder e que permita, assim, a tomada de uma decisão informada pelas partes. Dessa forma, a flexibilidade instrumental própria da conciliação não impediria o estabelecimento de parâmetros mínimos da atuação do conciliador. Por isso, tendo como limite a tomada de uma decisão informada, o conciliador atuaria por meio de estratégias variadas, aproximando-se e distanciando-se das partes, com maior ou menor interferência, de acordo com as características do caso apresentado. Conclui-se que, com a atuação conjunta e coordenada das diversas espécies de conciliador é possível aprimorar qualitativamente a conciliação de conflitos previdenciários.

Human Resources (HR) in the Age of Technology: An Examination of the Relationship Between HR and Technology

Technology helps the Human Resources (HR) department drive for strategic relevance. These two departments are successfully collaborating on major projects in such business-critical areas as e-recruiting, self-service, training, compensation and talent management. Technology is critical in helping increase efficiency, increase attraction and retention, reduce administration and cut costs. In recent years, HR information systems (HRIS) have become more important than ever, this time as an essential part of a company's information security and knowledge fields. Ill-suited benefits and disorganized resources are history; now is the time for customized, dynamic plans and connected systems. Employees will appreciate the HRIS, business will benefit from the HRIS and the HR department will no longer have to be the ugly duckling of the company.

A Sound Investment for Employees and Their Employers: Retirement Planning, Reinvented

Offering competitive health and wellness benefit programs is ever challenging for companies, as industry leaders continually devise ways to innovate and deliver high-value programs to attract and retain employees. Financial stability is a form of wellness, and yet companies offer limited finance-related benefit offerings. Employees are commonly given access to retirement savings plans and college savings plans, and yet employers do not typically incorporate educational components into benefit programs. Research presented in this paper examines the financial issues impacting the lives of young workers in the United States and makes the case for a new recruitment and retention tool: a dynamic, practical benefit program designed to engage employees in their financial planning early and empower them to make informed decisions.

Astrophysical parameters of LS 2883 and implications for the PSR B1259-63 gamma-ray binary

Only a few binary systems with compact objects display TeV emission. The physical properties of the companion stars represent basic input for understanding the physical mechanisms behind the particle acceleration, emission, and absorption processes in these so-called gamma-ray binaries. Here we present high-resolution and high signal-to-noise optical spectra of LS 2883, the Be star forming a gamma-ray binary with the young non-accreting pulsar PSR B1259-63, showing it to rotate faster and be significantly earlier and more luminous than previously thought. Analysis of the interstellar lines suggests that the system is located at the same distance as (and thus is likely a member of) Cen OB1. Taking the distance to the association, d = 2.3 kpc, and a color excess of E(B – V) = 0.85 for LS 2883 results in MV ≈ –4.4. Because of fast rotation, LS 2883 is oblate (R eq sime 9.7 R ☉ and R pole sime 8.1 R ☉) and presents a temperature gradient (T eq≈ 27,500 K, log g eq = 3.7; T pole≈ 34,000 K, log g pole = 4.1). If the star did not rotate, it would have parameters corresponding to a late O-type star. We estimate its luminosity at log(L */L ☉) sime 4.79 and its mass at M * ≈ 30 M ☉. The mass function then implies an inclination of the binary system i orb ≈ 23°, slightly smaller than previous estimates. We discuss the implications of these new astrophysical parameters of LS 2883 for the production of high-energy and very high-energy gamma rays in the PSR B1259-63/LS 2883 gamma-ray binary system. In particular, the stellar properties are very important for prediction of the line-like bulk Comptonization component from the unshocked ultrarelativistic pulsar wind.

Cu-NirK from Haloferax mediterranei as an example of metalloprotein maturation and exportation via Tat system

The green Cu-NirK from Haloferax mediterranei (Cu-NirK) has been expressed, refolded and retrieved as a trimeric enzyme using an expression method developed for halophilic Archaea. This method utilizes Haloferax volcanii as a halophilic host and an expression vector with a constitutive and strong promoter. The enzymatic activity of recombinant Cu-NirK was detected in both cellular fractions (cytoplasmic fraction and membranes) and in the culture media. The characterization of the enzyme isolated from the cytoplasmic fraction as well as the culture media revealed important differences in the primary structure of both forms indicating that Hfx. mediterranei could carry out a maturation and exportation process within the cell before the protein is exported to the S-layer. Several conserved signals found in Cu-NirK from Hfx. mediterranei sequence indicate that these processes are closely related to the Tat system. Furthermore, the N-terminal sequence of the two Cu-NirK subunits constituting different isoforms revealed that translation of this protein could begin at two different points, identifying two possible start codons. The hypothesis proposed in this work for halophilic Cu-NirK processing and exportation via the Tat system represents the first approximation of this mechanism in the Halobacteriaceae family and in Prokarya in general.

Structures, Systems and Organizational Communication Processes in Franchises in times of crisis: the Spanish case

Current economic crisis together with the Internet revolution has had direct impacts on the franchise sector of Spain: in particular on its unique communication network. The aim of this research is to analyse how Spanish franchise companies have adapted to these changes through its corporate communications management. We want to determine whether the management of communications is ideal to the growth and consolidation of companies in the market. Corporate communications plans and organizational structures were analyzed to verify whether or not information technology (i.e. the use of the Internet) is maximized: the communications aspect being a critical area of company growth. We found that most franchise companies surveyed had adapted well to the changes in information technology, despite economic challenges. The Internet as a communications tool has been limited to its utility as a “bulletin board” for information. The marketing advantage of Internet communication, or its use as an avenue for customer exchange and exchange of goods and services has yet to be maximized. Future research may look into the details of how companies are able to maximize the communications-marketing advantage that Online/Internet can contribute to the franchise sector.