Valoración del costo de los recursos propios de las empresas. caso particular: empresas de servicios a la persona en Francia

El WACC o Coste Medio Ponderado de Capital es la tasa a la que se deben descontar los flujos para evaluar un proyecto o empresa. Para calcular esta tasa es necesario determinar el costo de la deuda y el costo de los recursos propios de la compañía; el costo de la deuda es la tasa actual del mercado que la empresa está pagando por su deuda, sin embargo el costo de los recursos propios podría ser difícil y más complejo de estimar ya que no existe un costo explícito. En este trabajo se presenta un panorama de las teorías propuestas a lo largo de la historia para calcular el costo de los recursos propios. Como caso particular, se estimará el costo de los recursos propios sin apalancamiento financiero de seis empresas francesas que no cotizan en bolsa y pertenecientes al sector de Servicios a la Persona (SAP). Para lograr lo anterior, se utilizará el Proceso de Análisis Jerárquico (AHP) y el Modelo de Valoración del Precio de los Activos Financieros (CAPM) con base en lo presentado por Martha Pachón (2013) en “Modelo alternativo para calcular el costo de los recursos propios”.

Caracterización de la exposición ocupacional a los gases, dióxido de azufre (so2), sulfuro de hidrógeno (h2s), y monóxido de carbono (co), y la percepción de salud de los trabajadores, en una empresa del sector hidrocarburo en Colombia

En el proceso de extracción de petróleo (crudo) deben realizarse tratamientos físicos y químicos en estaciones de recolección del hidrocarburo con el fin de garantizar su calidad antes de su entrega para el transporte y comercialización. Para la realización de esta actividad el personal operativo requerido (operadores) debe realizar diferentes actividades, tales como ronda operacional, verificación de sistemas de almacenamiento del crudo, agua residual del proceso e insumos químicos utilizados en su tratamiento y manipulación de facilidades en las estaciones de recolección, entre otras. Como resultados de las actividades rutinarias los operadores están expuestos a factores de riesgo químico asociados a gases y vapores orgánicos generados en los procesos de tratamiento del crudo. En el presente trabajo se realizaron mediciones de calidad de aire e higiene industrial en diferentes estaciones tratamiento de crudo, con el propósito de evaluar los niveles de exposición de los operadores a gases y vapores de hidrocarburos durante el proceso de tratamiento de crudo y dar respuesta a la siguiente pregunta: ¿existe relación entre la exposición ocupacional, las emisiones atmosféricas de gases (SO2, CO, H2S) y la percepción de afectación de la salud de los trabajadores que se encuentran expuestos durante la actividad laboral, en una empresa del sector de hidrocarburos? Se realizó un estudio de corte transversal, mediante la aplicación de cuestionarios sobre las condiciones de trabajo y de salud a 30 trabajadores que laboran en una estación de tratamiento de crudo de una compañía del sector de hidrocarburos. Los operadores objeto de estudio laboran en turnos rotativos, han estado vinculados con la compañía por más de dos años y tienen contrato directo, adicionalmente, se identificaron los factores de riesgos ambientales y ocupacionales para el grupo de trabajadores y se realizó una revisión de los informes de medición de higiene industrial y de calidad de aire de las estaciones donde labora el personal seleccionado con el fin de establecer si los resultados se relacionan. Los resultados obtenidos indican que el 100% de los trabajadores son de género masculino y se desempeñan en cargos de operadores, recorredores de pozos de crudo y supervisores. El 97% de los operadores tiene más de cuarenta años de edad y el 80% de los mismos ha laborado por más de 6 años en la compañía. Acerca de la percepción de los trabajadores sobre su estado de salud el 90% afirma que su salud es buena, el 97% respondió que no presenta problemas respiratorios, el 23% manifiesta que presenta trastornos dermatológicos y el 27% indican que presenta dolor de cabeza constante. De la revisión de los informes de calidad de aire disponibles se encontró que las mediciones de Dióxido de Azufre SO2, Monóxido de Carbono CO se encuentran dentro del rango definido como el de menor impacto para la salud humana. De los datos del informe se puede concluir que la calidad del aire es buena en el 100% de las áreas de influencia de las estaciones de tratamiento de crudo. Según los informes de higiene industrial el 34% de las instalaciones presenta concentraciones de Sulfuro de Hidrógeno (H2S) en el límite permisible para exposiciones crónicas en un promedio ponderado de tiempo (TLV-TWA) y el límite permisible para exposiciones agudas en un límite de exposición a corto plazo (TLV-STEL). Solo el 37% de los trabajadores objeto de este estudio percibe el riesgo por la exposición a factores de riesgo químicos y son claramente consientes que se encuentran expuestos a estos riesgos por la manipulación de productos químicos y exposición a sustancias químicas producto de sus actividades rutinarias, el 73% no percibe el riesgo de exposición por su actividad laboral. Se recomienda que la compañía fortalezca su esquema de vigilancia para generar alternativas que eleven los niveles de consciencia del riesgo del trabajador. Los factores de riesgo ambiental y ocupacional, de los gases y vapores generados se deben al proceso de tratamiento de crudo, están mutuamente relacionados dado que al generarse una emisión y/o escape no controlado como consecuencia se tiene una afectación directa al medio ambiente y a los trabajadores.

Análisis de los efectos de intervenciones públicas en la recuperación de centros urbanos : caso de estudio barrio las Cruces, Bogotá 2002-2014

En el presente estudio de caso se hace un análisis de los principales efectos socio-espaciales y económicos que tuvieron intervenciones públicas dirigidas a recuperar el centro de Bogotá, en el territorio específico del Barrio Las Cruces, durante los años 2002-2014. Para lograrlo, en un primer momento se hace un análisis conceptual de las relaciones existentes entre intervenciones urbanas y los efectos que estas producen en lo urbano y lo local; en un segundo se identifican los antecedentes que sirvieron para intervenir el barrio, y las intervenciones públicas que llevadas a cabo en éste durante el 2002 – 2014; y en un el tercero se analizan los efectos y las relaciones que tuvieron dichas intervenciones sobre las variables social, espacial y económica del barrio durante el periodo estudiado. Con el fin de verificar si la política de rehabilitación con la que se viene interviniendo dicha zona es coherente con las realidades locales.

L'accès à la Recherche Scientifique.

Texto en francés

Uso de la hoja de cálculo en la resolución de problemas sencillos de campo electrostático.

Resumen basado en el de la publicación

As práticas de supervisão e liderança dos coordenadores do departamento de Matemática e Ciências Experimentais na harmonização de um emergente mega departamento

A escola é uma organização cuja missão se traduz no aperfeiçoamento das práticas pedagógicas e na melhoria da qualidade do ensino e da aprendizagem (Lima, 2008) muito embora se veja confrontada diariamente com vários desafios de ordem política, social, económica e ideológica que obrigam todos os agentes educativos a encontrar formas para os ultrapassar (Nóvoa, 2009). Atualmente, o sucesso dos mega agrupamentos recentemente criados pela tutela emerge como um enorme desafio quanto à organização e nova dinâmica da escola como instituição, realçando o papel fundamental dos promotores e harmonizadores da mudança que constituem os órgãos de gestão e nomeadamente os de gestão intermédia, representados pelos coordenadores dos departamentos curriculares. Com efeito, é a eles que cabe o difícil e delicado papel de unir realidades diferentes coordenando-as, orientando-as e harmonizando-as respeitando simultaneamente as diferentes ambições e expetativas dos alunos quanto ao seu futuro, as culturas escolares e os professores que de um momento para o outro são obrigados a adaptarem-se a contextos sociais ainda mais heterogéneos. Desta forma, a tarefa dos coordenadores de departamento vê-se substancialmente acrescida e dificultada não só pelo aumento do número de docentes que constitui o departamento mas, mais ainda pela explosão das diferenças que surgem entre os vários docentes, as suas práticas e o universo de alunos do mega agrupamento que se deve constituir numa única comunidade escolar (Sergiovanni, 2004). No intuito de realçar o papel dos coordenadores na promoção da integração das duas escolas e na implementação da efetiva colaboração entre coordenadores e grupos disciplinares, objetivo geral deste trabalho, é proposta uma ação de formação na modalidade de projeto. Esta proposta resulta da análise das entrevistas realizadas aos coordenadores do mega departamento de Matemática e Ciências Experimentais do mega agrupamento onde a autora deste estudo exerce funções, e através das quais se procurava responder à questão: qual o papel dos coordenadores na promoção de integração das duas escolas e na implementação da efetiva colaboração entre os coordenadores e grupos disciplinares.

Museum of the City of São Paulo: A new paradigm of City Museums in the Era of Megalopolises

The City is a tomography of the present, indicating to the future, strata of past times. Nowadays city growth averages one million people every week; while back in 1950 there were eighty six cities with more than one million inhabitants, today they are four hundred all over the world. However the most significant effect of the urban process is, doubtless, the explosion of megacities. It took one century for the urban population – around three point four billion inhabitants – to surpass the number of people in the country, but United Nations projections indicate that by 2025, urban population will reach 61% of the total. Creating a new city museum in São Paulo requires that, in a first analysis, one should consider as geographic area of study some fifteen hundred square kilometres corresponding to the patrimonial intervention area. That is the area of the Municipality, politically divided into ninety six districts where eleven million people live, while approximately twenty million people live in the metropolitan area

Automatically constructing the semantic web

The storage and processing capacity realised by computing has lead to an explosion of data retention. We now reach the point of information overload and must begin to use computers to process more complex information. In particular, the proposition of the Semantic Web has given structure to this problem, but has yet realised practically. The largest of its problems is that of ontology construction; without a suitable automatic method most will have to be encoded by hand. In this paper we discus the current methods for semi and fully automatic construction and their current shortcomings. In particular we pay attention the application of ontologies to products and the particle application of the ontologies.

Electronic structure of point defects in controlled self-doping of the TiO2 (110) surface: Combined photoemission spectroscopy and density functional theory study

Point defects in metal oxides such as TiO2 are key to their applications in numerous technologies. The investigation of thermally induced nonstoichiometry in TiO2 is complicated by the difficulties in preparing and determining a desired degree of nonstoichiometry. We study controlled self-doping of TiO2 by adsorption of 1/8 and 1/16 monolayer Ti at the (110) surface using a combination of experimental and computational approaches to unravel the details of the adsorption process and the oxidation state of Ti. Upon adsorption of Ti, x-ray and ultraviolet photoemission spectroscopy (XPS and UPS) show formation of reduced Ti. Comparison of pure density functional theory (DFT) with experiment shows that pure DFT provides an inconsistent description of the electronic structure. To surmount this difficulty, we apply DFT corrected for on-site Coulomb interaction (DFT+U) to describe reduced Ti ions. The optimal value of U is 3 eV, determined from comparison of the computed Ti 3d electronic density of states with the UPS data. DFT+U and UPS show the appearance of a Ti 3d adsorbate-induced state at 1.3 eV above the valence band and 1.0 eV below the conduction band. The computations show that the adsorbed Ti atom is oxidized to Ti2+ and a fivefold coordinated surface Ti atom is reduced to Ti3+, while the remaining electron is distributed among other surface Ti atoms. The UPS data are best fitted with reduced Ti2+ and Ti3+ ions. These results demonstrate that the complexity of doped metal oxides is best understood with a combination of experiment and appropriate computations.

Introduction: towards a social archaeology of warfare

The recent explosion of interest in the archaeology of warfare is examined, and some possible reasons behind this trend are explored. Characteristics in the archaeology of warfare are identified in relation to prehistoric and historical archaeology and their contrasting sources of evidence. The androcentric tendency of the archaeology of warfare is discussed, and the major themes of the volume are introduced, including memorial landscapes, commemorative monuments and their conflicting meanings, and the social context of warfare.

Surface and interstitial Ti diffusion at the rutile TiO2(110) surface

Diffusion of Ti through the TiO2 (110) rutile surface plays a key role in the growth and reactivity of TiO2. To understand the fundamental aspects of this important process, we present an analysis of the diffusion of Ti adspecies at the stoichiometric TiO2(110) surface using complementary computational methodologies of density functional theory corrected for on-site Coulomb interactions (DFT+U) and a charge equilibration (QEq) atomistic potential to identify minimum energy pathways. We find that diffusion of Ti from the surface to subsurface (and vice versa) follows an intersticialcy exchange mechanism, involving exchange of surface Ti with the 6-fold coordinated Ti below the bridging oxygen rows. Diffusion in the subsurface between layers also follows an interstitialcy mechanism. The diffusion of Ti is discussed in light of continued attempts to understand the re-oxidation of non-stoichiometric TiO2(110) surfaces.

Major advances in fundamental dairy cattle nutrition

Fundamental nutrition seeks to describe the complex biochemical reactions involved in assimilation and processing of nutrients by various tissues and organs, and to quantify nutrient movement (flux) through those processes. Over the last 25 yr, considerable progress has been made in increasing our understanding of metabolism in dairy cattle. Major advances have been made at all levels of biological organization, including the whole animal, organ systems, tissues, cells, and molecules. At the whole-animal level, progress has been made in delineating metabolism during late pregnancy and the transition to lactation, as well as in whole-body use of energy-yielding substrates and amino acids for growth in young calves. An explosion of research using multicatheterization techniques has led to better quantitative descriptions of nutrient use by tissues of the portal-drained viscera (digestive tract, pancreas, and associated adipose tissues) and liver. Isolated tissue preparations have provided important information on the interrelationships among glucose, fatty acid, and amino acid metabolism in liver, adipose tissue, and mammary gland, as well as the regulation of these pathways during different physiological states. Finally, the last 25 yr has witnessed the birth of "molecular biology" approaches to understanding fundamental nutrition. Although measurements of mRNA abundance for proteins of interest already have provided new insights into regulation of metabolism, the next 25 yr will likely see remarkable advances as these techniques continue to be applied to problems of dairy cattle biology. Integration of the "omics" technologies (functional genomics, proteomics, and metabolomics) with measurements of tissue metabolism obtained by other methods is a particularly exciting prospect for the future. The result should be improved animal health and well being, more efficient dairy production, and better models to predict nutritional requirements and provide rations to meet those requirements.

Acquiring, managing and applying knowledge for environmental conservation

We are experiencing an explosion of knowledge with relevance to conserving biodiversity and protecting the environment necessary to sustain life on earth. Many science disciplines are involved in generating this ne, knowledge and real progress can be made when scientists collaborate across disciplines to generate both macro- and micro-environmental knowledge and then communicate and interact with specialists in sociology, economics and public policy. An important requirement is that the often complex scientific concepts and their voluminous supporting data are managed in such ways as to make them accessible across the many specializations involved. Horticultural science has much to contribute to the knowledge base for environmental conservation. While it seems that production horticulture has been slow to embrace knowledge and concepts that would reduce the heavy reliance on agricultural chemicals, the use of peat as a growing medium, and lead to more sustainable use of water and other resources, environmental horticulture is providing valuable opportunities to rescue or protect endangered species, educate the public about plants and plant science, and demonstrate environmental stewardship and sustainable production practices. Likewise, social horticulture is drawing, attention to the many contributions of horticultural foods and parks and gardens to human health and welfare. Overall, horticulture has a vital role to play in integrating, knowledge from other scientific, social, economic and political disciplines.

Nutrition Society Silver Medal Lecture Nutrigenetics and personalised nutrition: how far have we progressed and are we likely to get there?

Nutrigenetics and personalised nutrition are components of the concept that in the future genotyping will be used as a means of defining dietary recommendations to suit the individual. Over the last two decades there has been an explosion of research in this area, with often conflicting findings reported in the literature. Reviews of the literature in the area of apoE genotype and cardiovascular health, apoA5 genotype and postprandial lipaemia and perilipin and adiposity are used to demonstrate the complexities of genotype-phenotype associations and the aetiology of apparent between-study inconsistencies in the significance and size of effects. Furthermore, genetic research currently often takes a very reductionist approach, examining the interactions between individual genotypes and individual disease biomarkers and how they are modified by isolated dietary components or foods. Each individual possesses potentially hundreds of 'at-risk' gene variants and consumes a highly-complex diet. In order for nutrigenetics to become a useful public health tool, there is a great need to use mathematical and bioinformatic tools to develop strategies to examine the combined impact of multiple gene variants on a range of health outcomes and establish how these associations can be modified using combined dietary strategies.