Modelos de presupuestación de capital en finanzas corporativas y utilidad de los mismos

La siguiente investigación describe una aproximación teórica al tema de los modelos de presupuestación de capital, el objetivo fundamental se basa en comprender su enfoque e importancia al momento de tomar decisiones de inversión por parte de los directores de una empresa, así como de prever los efectos de esta en un futuro. Al respecto, y sobre la base de que los modelos de presupuestación de capital son herramientas para analizar posibles erogaciones de capital por parte de una empresa, es necesario para efectos del presente proyecto de investigación, definir sus diferentes modelos desde lo teórico y metodológico, explicando los diferentes conceptos relacionados con el tema. Así mismo, se explican algunos de los indicadores financieros utilizados en las compañías para medir y estimar la “salud financiera” de la empresa, además de puntualizar su impacto en la perdurabilidad de las entidades, lo cual permite dar una visión más general sobre la importancia que trasciende de los indicadores financieros, generando un impacto positivo en la evolución o crecimiento de la organización. En complemento, la investigación aborda la presupuestación de capital de manera particular aplicado en la gestión empresarial, sean estas privadas o públicas (estatal y gubernamental). En este sentido, se abordan conceptos elaborados por diferentes académicos en los que se exponen algunas aproximaciones respecto al posible mejoramiento de la presupuestación para los sectores a los que pertenecen determinadas entidades. Finalmente, se presenta de manera explícita las conclusiones que surgieron a lo largo de la construcción del documento de investigación, con el fin de dar cumplimiento concreto al objetivo general del trabajo, el cual constituye una respuesta a la pregunta de investigación que se enunciará en el desarrollo del documento.

Preliminary Remarks on Old Spanish Auxiliares: haber, ser and estar

En aquest article s'intenta aportar una visió descriptiva del funcionament d'haber, ser i estar en construccions 'perifràstiques' del castellà medieval. Quant a les perífrasis 'AUX+ infinitiu', s'observa que no s'ajusten a una anàlisi del tipus 'SV que selecciona un SV'. D'altra banda, s'aporta evidència que afavoreix una visió de la derivació dels futurs i condicionals analítics on el verb [-finit] s'excorpora de l'auxiliar funcional per traslladar-se a CO. Finalment, s'estableix que les construccions 'haber/ser/estar+participi' poden ser analitzades com a verbs lèxics que subcategoritzen una oració reduïda el predicat de la qual és el participi. Això permet relacionar l'avantposició de participi amb la dels SA i la dels arguments interns. Els aspectes bàsics d'aquest canvi sintàctic que duu del castellà medieval i preclàssic a l'espanyol actual són: (a) la categoria lèxica SV dels verbs en qüestió es reanalitza com una categoria funcional SAsp i aquests verbs esdevenen auxiliars; (b) hi ha un canvi de subcabgorització, ja que aquests verbs deixen de subcategoritzar una oració reduïda per passar a subcategoritzar un SVmàx, i (c) la pèrdua de la projecció màxima SCONC1 comporta la desparició dels efectes de la llei Tobler-Mussafia, de la possibilitat d'avantposar el participi i també de la concordança de participi en els perfets compostos.

Manuel Brunet i Solà (1889-1956). El periodisme d'idees al servei de la "veritat personal"

This doctoral thesis deals with the intellectual biography of the writer and journalist Manuel Brunet (Vic, 1889, Figueres, 1956). It reconstructs the life and professional studies of the author, and the most important facets of his literature and journalism. In addition, it examines his literary texts. A special emphasis has been placed on the study of journalistic production of Brunet and on the analysis of the professional profile of the author. Examination and assessment of its production has been accurate, including a classification of the items and a comparison of his journalistic style with that of other contemporary authors, both Catalan (Josep Pla and Joseph M. de Sagarra), French (Charles Maurras and Léon Daudet) and English (GK Chesterton and Hilaire Belloc). The latter part of the work analysises the condition of "victor won" of Manuel Brunet after the Spanish Civil War, and how this author is an example of a whole generation of conservative Catalan nationalist witers who lived a difficult situation after the conflict.

Eliminación de compuestos causantes de olores mediante adsorbentes/catalizadores obtenidos a partir de lodos de depuradora

El aumento de la cantidad de lodos y las dificultades inherentes a su aplicación agrícola y/o disposición en vertederos, hace necesario encontrar nuevas alternativas para su gestión. A nivel europeo, hoy en día se tiende hacia la aplicación de tratamientos térmicos (incineración, pirólisis y gasificación) que permiten una valoración energética de los lodos, si bien generan un residuo sólido que sigue siendo necesario gestionar. El problema medioambiental provocado por (malos) olores resulta difícil de abordar de una manera genérica, teniendo en consideración la propia naturaleza del olor y sus posibles causas. Los olores en las EDARs son provocados básicamente por la degradación de la materia orgánica en condiciones anaeróbicas y se detectan en todas las operaciones unitarias en diferentes niveles de concentración. Esta tesis incidiendo en ambos aspectos, tiene por objeto investigar la valorización de lodos como materiales precursores de adsorbentes/ catalizadores para la eliminación de olores en el entorno de las EDARs, maximizando la reutilización de los lodos. Para la realización de los experimentos se han seleccionado lodos procedentes de tres EDARs situadas en la región de Girona (SC, SB, SL) que difieren en cuanto al tratamiento de los lodos. Ambas muestras han sido caracterizadas con el fin de determinar las diferencias más importantes en los lodos de partida. Los parámetros de caracterización incluyen el análisis de composición química (análisis elemental e inmediato, determinación contenido en cenizas, medida pH, DRX, FT-IR, SEM / EDX) así como análisis de superficie (adsorción de N2 y CO2). En primer lugar los lodos caracterizados han sido sometidos a diferentes tratamientos térmicos de gasificación y pirólisis y los adsorbentes/ catalizadores obtenidos se han probado como adsorbentes para la eliminación de H2S. Como consecuencia de este estudio, se ha desechado el uso de uno de lodos (SC) puesto que se obtenían resultados muy similares a (SB), a continuación el estudio se centró en el lodo de SL. Con este objetivo se han preparado 12 muestras 6 de ellas pirolizadas y 6 gasificadas en el rango de temperaturas que comprende 600-1100 ºC. Posteriormente las muestras han sido caracterizadas y se ha determinado la capacidad de eliminación (x/M) del H2S. Los resultados muestran que hemos sido capaces de obtener unos materiales que si bien, presentan un bajo desarrollo de porosidad dan lugar a valores de capacidades de eliminación elevados y comparables a carbones y materiales adsorbentes comerciales (Centaur, Sorbalit). Las elevadas eficiencias de eliminación se atribuyen básicamente a la presencia de especies catalíticamente activas tales como los óxidos mixtos de calcio y hierro determinados por DRX en las muestras tratadas térmicamente. El segundo bloque de resultados se centra la mejora de las propiedades texturales de estos materiales adsorbentes. Con este objetivo se llevaron acabo procesos de activación física con CO2 y química con H3PO4 e hidróxidos alcalinos (NaOH y KOH), que hasta el momento no se había probado con este tipo de precursores. Los resultados indican que la activación física (CO2) y química (H3PO4) no son unos buenos métodos para la obtención de adsorbentes altamente porosos con este tipo de materia prima bajo las condiciones probadas, sin embargo la activación con hidróxidos alcalinos da lugar a materiales adsorbentes con superficies específicas de hasta 1600 m2g-1. En el caso de la activación con hidróxidos, tanto el incremento de la relación agente activante/ precursor como el incremento de la temperatura producen un descenso del rendimiento, al mismo tiempo que incrementan el valor de SBET. Los materiales resultantes de la activación con hidróxidos alcalinos se han probado como adsorbentes/ catalizadores para la eliminación de H2S. Los resultados indican que un incremento del área superficial no es indicativo de un aumento de la capacidad de eliminación dada la naturaleza ácida de estos materiales obtenidos. Con el fin de contrarrestar el efecto ácido de estos materiales se han realizado los mismos ensayos añadiendo NaOH al lecho de reacción llegando a valores de x/M de hasta 450 mgg-1. Posteriormente también se han realizado ensayos de eliminación de NH3 con algunas de estas muestras, y los resultados obtenidos de x/M son del orden de carbones activados comerciales. Los materiales adsorbentes obtenidos tras la activación con hidróxidos alcalinos se convierten en materiales muy atractivos para ser utilizados como adsorbentes/ catalizadores de múltiples contaminantes (COVs, Hg...).

Contemporary organizational theory in the management of construction projects

The level of insolvencies in the construction industry is high, when compared to other industry sectors. Given the management expertise and experience that is available to the construction industry, it seems strange that, according to the literature, the major causes of failure are lack of financial control and poor management. This indicates that with a good cash flow management, companies could be kept operating and financially healthy. It is possible to prevent failure. Although there are financial models that can be used to predict failure, they are based on company accounts, which have been shown to be an unreliable source of data. There are models available for cash flow management and forecasting and these could be used as a starting point for managers in rethinking their cash flow management practices. The research reported here has reached the stage of formulating researchable questions for an in-depth study including issues such as how contractors manage their cash flow, how payment practices can be managed without damaging others in the supply chain and the relationships between companies" financial structures and the payment regimes to which they are subjected.

On the (un)-ambiguity of adjectival modification in Spanish determiner phrases: informing debates on the mental representations of L2 syntax.

This study contributes to a central debate within contemporary generative second language (L2) theorizing: the extent to which adult learners are (un)able to acquire new functional features that result in a L2 grammar that is mentally structured like the native target (see White, 2003). The adult acquisition of L2 nominal phi-features is explored, with focus on the syntactic and semantic reflexes in the related domain of adjective placement in two experimental groups: English-speaking intermediate (n = 21) and advanced (n = 24) learners of Spanish, as compared to a native-speaker control group (n = 15). Results show that, on some of the tasks, the intermediate L2 learners appear to have acquired the syntactic properties of the Spanish determiner phrase but, on other tasks, to show some delay with the semantic reflexes of prenominal and postnominal adjectives. Crucially, however, our data demonstrate full convergence by all advanced learners and thus provide evidence in contra the predictions of representational deficit accounts (e.g., Hawkins & Chan, 1997; Hawkins & Franceschina, 2004; Hawkins & Hattori, 2006).

Through Jewish eyes: polemical literature and the medieval papacy

Although the medieval papacy's stance towards the Jews is a well-established area of research, Jewish ideas about the papacy remain a surprisingly underdeveloped historical topic. This article explores such ideas through the genre of polemic and disputational literature. Jewish writers were keen to ensure the safety of their communities in western Europe and grateful for statements of papal protection. They fully acknowledged that popes had always played and would continue to play an important role in safeguarding their well-being and determining their future. Yet although contemporary and later writers often valued papal protection more highly than that of monarchs, emperors or clergy, they also knew that it had its carefully circumscribed limits. Furthermore, although they were respectful of the papacy's power, both spiritual and temporal, they were dismissive of the scriptural and theological formulations on which Christian claims for apostolic authority rested and highly critical of Christian beliefs about the papacy, in particular that of apostolic succession. Jewish ideas about both individual popes and the medieval papacy as an institution are therefore nuanced and complex; they deserve rigorous and wide-ranging investigation and it is hoped that this article will contribute to their better understanding.

Determinants and measures of export performance – comprehensive literature review

As one of the key indicators of the firm’s ability to leverage successfully its resources and capabilities in the international context, export performance has been one of the most extensively studied phenomena. A plethora of studies have been conducted pertaining to provide better understanding of the factors (firm- or environment-specific) and behaviours (e.g., export strategy) that make exporting a successful venture. Following a comprehensive literature review undertaking in this study the current state of the export performance literature could be summarisedas (i) methodologically fragmented in that there is a variety of analytical and methodological approaches, (ii) conceptually diverse, a large number of determinants have been identified as having direct or indirect influence on the firm’s export performance, and a large number of indicators have been used to conceptualise and operationalise the export performance measures, and (iii) inconclusive, the studies have produced inconsistent results of the impact of different determinants on export performance.

'The African Presence in Caribbean Literature' revisited: recovering the politics of imagined co-belonging 1930–2005

Working outward from Edward Kamau Brathwaite’s landmark 1974 essay, “The African Presence in Caribbean Literature,” this article explores the fuller history of the idea of Africa in anglophone Caribbean critical and literary works from the 1930s to the 2000s. It demonstrates that earlier, now forgotten Caribbean critics drew on imperfect and incomplete Caribbean literary imaginings of Africa to frame a counter-colonial politics of identity. The essay also brings back into view writings by Una Marson, Victor Stafford Reid, and Derek Walcott that expressed a different politics of solidarity based on the shared experience of colonial violence. Readings of recent literary works by Charlotte Williams and Nalo Hopkinson reveal the contemporary crafting of this relation around a heightened awareness of both presence and loss, history and imagination. Importantly, this gathering of sources and perspectives allows for an appreciation of the role that a reach toward Africa has played in articulations of Caribbeanness and its complex patterning of cultural co-belonging.

Order and disorder in fiction labyrinths: the librarians` representations in some contemporary cultural productions

This paper, first result of a larger research, proposes a query about some aspects of social representation of libraries and librarians, as they appear in literary and cinematographic productions. Little by little, this query, which arose from purposes of organizing catalogues, revealed elements that established different series, in which the narrative genre (literary or cinematographic) has no relevance to either libraries or librarians` representations. The presence of these elements seems to show some expectations and utopias in relation to the common knowledge, independently from narratives being located in the past, in the present or in the future, stimulating reflection on some medieval and baroque traditions about the library universe and its main characters, the librarians. The cinematographic material selected for research was The time machine, Farenheit 451, The day after tomorrow, Star Wars - episode II and the novels Martin Eden, The man without qualities, The time machine and La sombra del viento.

Dialectal Speech in Literature and Translation : Bachelor Degree Thesis in English Linguistics

This essay studies how dialectal speech is reflected in written literature and how this phenomenon functions in translation. With this purpose in mind, Styron's Sophie's Choice and Twain's The Adventures of Huckleberry Finn are analysed using samples of non-standard orthography which have been applied in order to reflect the dialect, or accent, of certain characters. In the same way, Lundgren's Swedish translation of Sophie's Choice and Ferres and Rolfe's Spanish version of The Adventures of Huckleberry Finn are analysed. The method consists of linguistically analysing a few text samples from each novel, establishing how dialect is represented through non-standard orthography, and thereafter, comparing the same samples with their translation into another language in order to establish whether dialectal features are visible also in the translated novels. It is concluded that non-standard orthography is applied in the novels in order to represent each possible linguistic level, including pronunciation, morphosyntax, and vocabulary. Furthermore, it is concluded that while Lundgren's translation intends to orthographically represent dialectal speech on most occasions where the original does so, Ferres and Rolfe's translation pays no attention to dialectology. The discussion following the data analysis establishes some possible reasons for the exclusion of dialectal features in the Spanish translation considered here. Finally, the reason for which this study contributes to the study of dialectology is declared.

Abilities and Cultural Understanding through Literature in the EFL Classroom : - A Literature Review

The English language can be seen as a lingua franca of contemporary times. Its spread and use in the globalized world has affected most levels of society and it can be argued that, in current times, English is synonymous with communication. This need for communication has shaped the English as a Foreign Language (EFL) syllabus, which is evident in the Swedish national steering documents for the educational system. For the upper secondary school these documents show an emphasis on communication, on cultural understanding, and also on the use of literature within the EFL classroom. The need to possess communicative abilities and cultural understanding, in connection with the use of literature, has sparked an interest to investigate if and how literature itself can be used as a tool to develop and improve EFL students’ communicative skills and cultural understanding. This literature review thesis analyzes five international research articles from different geographical parts of the Globe. The findings are categorized, compared, synthesized, and finally discussed in order to answer the research questions asked, and also compared with the English subject syllabus for the Swedish upper secondary school. The findings indicate that the analyzed articles share a consensus, to a varied degree, regarding the positive aspects of literature use in the EFL setting. The arguments are that communicative skills and cultural understanding are intertwined - enabling each other to exist, develop, and improve. One cannot exist fully without the other, and literature is a good tool to use to develop and improve these abilities. Literature can help develop all skills needed to acquire and produce both written and spoken English, and it also enables cultural understanding and a broadening of the mind. Where the articles differ somewhat is in the ideas of why literature is a good tool, how to implement literature in the classrooms, and what some of the negative aspects might be. The thesis also brings the lack of Swedish studies within EFL to the readers’ attention, as well as the need to do more research focusing on the students’ perspectives towards literature use in the EFL setting.