Conflicto de intereses: agencias de rating, reguladores, países y empresas

Les agencies de qualificació de riscos son una peça fonamental en el engranatge del sistema financer internacional. Arreu de la crisi financera es detecten conflictes d’interès entre aquestes i la resta de agents econòmics, generat per un canvi en el model de cobro. El document explica com s’ha generat aquest problema, la resposta del mercat i de les pròpies agencies de rating i exposa també les noves propostes regulatòries per a corregir-lo.

Select-divide-and-conquer method for large-scale configuration interaction

A select-divide-and-conquer variational method to approximate configuration interaction (CI) is presented. Given an orthonormal set made up of occupied orbitals (Hartree-Fock or similar) and suitable correlation orbitals (natural or localized orbitals), a large N-electron target space S is split into subspaces S0,S1,S2,...,SR. S0, of dimension d0, contains all configurations K with attributes (energy contributions, etc.) above thresholds T0={T0egy, T0etc.}; the CI coefficients in S0 remain always free to vary. S1 accommodates KS with attributes above T1≤T0. An eigenproblem of dimension d0+d1 for S0+S 1 is solved first, after which the last d1 rows and columns are contracted into a single row and column, thus freezing the last d1 CI coefficients hereinafter. The process is repeated with successive Sj(j≥2) chosen so that corresponding CI matrices fit random access memory (RAM). Davidson's eigensolver is used R times. The final energy eigenvalue (lowest or excited one) is always above the corresponding exact eigenvalue in S. Threshold values {Tj;j=0, 1, 2,...,R} regulate accuracy; for large-dimensional S, high accuracy requires S 0+S1 to be solved outside RAM. From there on, however, usually a few Davidson iterations in RAM are needed for each step, so that Hamiltonian matrix-element evaluation becomes rate determining. One μhartree accuracy is achieved for an eigenproblem of order 24 × 106, involving 1.2 × 1012 nonzero matrix elements, and 8.4×109 Slater determinants

Gènere i identitats en la construcció d'una comunitat colonial a Empúries (segles VI-V a.C.)

El projecte de recerca ha analitzat la complexitat ètnica, social i de gènere de l’assentament colonial d’Empúries a partir d’un exhaustiu estudi contextual dels materials ceràmics d’ús quotidià provinents de diferents sectors excavats als anys vuitanta a la Neàpolis empuritana (N-7000, N-5000 i N-1000). Aquests sectors datats els segles V i IV a.C., corresponen a un moment en el qual s’està construint una identitat colonial diferenciada en l’espai emporità. La comparació dels aixovars domèstics usats quotidianament pels habitants d’aquest tres sectors situats en punts distants de la Neàpolis mostra que estem davant d’un assentament colonial molt heterogeni, on conflueixen materialitats, tradicions tecnològiques i pràctiques quotidianes iberes, gregues i híbrides. Els estudis de materials confirmen que no va existir una segregació espacial entre poblacions d’origen grec i iber en aquest assentament i suggereixen la cohabitació de gent –tant d’homes com de dones- d’origen grec i iber a les diferents àrees estudiades d’aquest assentament portuari. En el registre material ceràmic de totes les zones estudiades s’observa un predomini dels productes ceràmics de tradició grega (colonials o àtics) en els serveis de taula, però no així en els estris utilitzats a la cuina, que són majoritàriament de tradició ibera. També els materials ceràmics relacionats amb l’emmagatzematge domèstic i amb el transport i el comerç (àmfores) són predominantment ibers. Aquest patró suggereix que els ibers que van cohabitar amb els grecs al port emporità no van assumir en tots els casos posicions subalternes, sinó que tingueren un rol rellevant en la gestió econòmica i comercial d’aquest espai portuari.

Taller d’animació per ordinador

Avui en dia l’art de l’animació ens envolta per tot arreu; es mostra, a més, com una eina eficaç, pràctica i expressiva dins del procés comunicatiu, ja sigui a través de la pura expressió artística o com una eina comunicativa en un món dominat per les telecomunicacions. La proposta d’aquest taller es basa a apropar els alumnes inscrits al món de l’animació amb un fi pràctic per tal que el puguin transformar en una eina més que complementi els tallers que ells mateixos imparteixen, tant a través d’un repàs sobre l’evolució d’aquest art com d’una explicació de les seves normes i la seva tècnica. Cal entendre en aquest cas l’animació no com un art aliè sinó com una eina que pot agrupar i fàcilment aplicable a diferents disciplines, com ara el dibuix, la pintura, el disseny, la fotografia, el cinema o la música, que la converteix, per tant, en un art que s’enriqueix quan agrupa no solament diferents categories artístiques sinó també a persones de diferents bagatges. Es tracta d’un taller adreçat a persones que ja hagin adquirit un nivell artístic mínim i un coneixement d’usuari de l’entorn informàtic, és a dir, professionals que vulguin desenvolupar aquests coneixements en altres àmbits presents en l’actualitat de les comunicacions, com són les animacions per Internet, sèries animades, la publicitat, els llibres electrònics, etcètera. Aquest projecte sorgeix del taller desenvolupat per l’experta en animació Sílvia Ortega, que es va impartir al nostre col·lectiu en demanda a una necessitat que sorgeix de les aules dels tallers artístics dels centres peni tenciaris, tant per donar un ensenyament de qualitat com per apropar-nos a una realitat tecnològica dels nostres temps de la qual no podem quedar fora. El treball que us presentem s’ha fet prenent com a base la sessió que vam tenir amb Sílvia Ortega, Sergi del Rio i Càstor Bordes.

Organizational resources and intrapreneurial activities: a cross-country study

The importance of entrepreneurship for social and economic growth is generally accepted. In addition, intrapreneurship or corporate entrepreneurship is recognized as one of the key elements for organizational development. In this context, corporate culture and, specifically, entrepreneurial competences are considered to be catalysts for intrapreneurship. The main purpose of this paper is to analyse the influence of resources and capabilities on the probability of becoming an intrapreneur. Using data obtained from the Global Entrepreneurship Monitor (GEM) for 39 countries, and a logistic model, the study shows that entrepreneurial resources and capabilities, such as previous entrepreneurial experience, entrepreneurial competences and the ability to detect business opportunities, influence intrapreneurial behaviour. The contributions of this research are both conceptual (advancing corporate entrepreneurship theory) and practical (relating to the design of policies to foster intrapreneurial activities).

Studying the micro-angels approach to micro-investment decisions

Purpose: The paper analyzes the micro-angels investment behaviour, looking both to the criteria used in the selection of their investment projects and to the characteristics of their guidance role during the investment period. Design/Methodology/Approach: The paper focuses on a double bottom line movement of French micro-angels clubs that has been operating since 1983. Our primary source of data is an online survey carried out during March 2012, asking members of clubs all over France for different aspects of their procedures. Findings: Our findings suggest that micro-angels are interested in small, socially or environmentally friendly projects having the potential to contribute to the development of their neighbourhood. We find that women are even more interested than men in such projects. Educated micro-angels value entrepreneurial motivation and understanding of the project more than less-educated micro-angels. We also point out the factors that micro-angels consider important in accompanying enterprises. Here we find that gender makes little difference. However, retired micro-angels value financial diagnosis made conjointly with entrepreneurs, while both active micro-angels and educated micro-angels value more the use of their network to help micro-entrepreneurs. Practical/Social Implications: Given the potential benefits of micro-angels investing and guiding the development of micro-enterprises, a social micro-angel investment on a major scale in developing countries could help in tackling some of the problems faced by the development of microfinance, such as the over-indebtedness of micro-entrepreneurs. Practitioners and new initiatives would gain from understanding what adaptations need to be made. Originality/value: We expect to add to the venture capital theory to take into account non-economic motives.

Multimarket contact externalities: the effect of rival's multimarket contacts on focal firm performance

Given that firms develop their activities in a network of multiple players, interfirm rivalry is not only a matter of direct competitors, but also of indirect competition. In spite of this, the literature on competitive dynamics tends to focus on analyzing rivalry as an exclusive function of the competitive relationship between a focal firm and its direct rivals. In this article, we extend competitive dynamics literature by considering how focal firms are affected by the relationships of their rivals with third-party firms. Specifically, we study the effect that the multimarket contacts of rivals produces on the performance of the focal firm. Additionally, we incorporate the idea that there are different strategic options for operating in an industry that affect the intensity of multimarket contact externalities. Our results show that multimarket contact among firms causes externalities that indirectly affect firms that are not directly involved in this competitive relationship. We find that multimarket contact externalities differ between and within strategic groups.

Market rewards to patterns on increasing earnings: do cash flow patterns, accruals manipulation and real activities manipulation matter?

This study explores whether firms have differential price-earnings multiples associated with their means of achieving a sequential pattern of increasing positive earnings. Our main findings show that market participants assign higher price-earnings multiples to firms when their pattern of increasing earnings is supported by the same pattern of increasing cash flows. Market participants assign lower price-earnings multiples to firms suspect of having engaged in accrual-based earnings management, sales manipulation, and overproduction to achieve the earnings pattern. We find, however, that market participants do not penalize firms suspect of having achieved the earnings pattern through the opportunistic reduction of discretionary expenses.

MasterMind

Desarrollo de una aplicación en Android que sea totalmente funcional. En este caso nos hemos propuesto desarrollar el juego MasterMind, un clásico de los juegos de mesa, pero adaptándolo a las nuevas tecnologías que nos permitirán darle una orientación social al estilo de Apalabrados o Mezcladitos.

Updated survival data of the phase iii clinical trial of novottf-100a versus best standard chemotherapy for recurrent glioblastoma

NovoTTF-100A (TTF) is a portable device delivering low-intensity, intermediate-frequency, alternating electric fields using noninvasive, disposable scalp electrodes. TTF interferes with tumor cell division, and it has been approved by the US Food and Drug Administration (FDA) for the treatment of recurrent glioblastoma (rGBM) based on data from a phase III trial. This presentation describes the updated survival data 2 years after completing recruitment. Adults with rGBM (KPS ≥ 70) were randomized (stratified by surgery and center) to either continuous TTF (20-24 h/day, 7 days/week) or efficacious chemotherapy based on best physician choice (BPC). The primary endpoint was overall survival (OS), and secondary endpoints were PFS6, 1-year survival, and QOL. Patients were randomized (28 US and European centers) to either TTF alone (n ¼ 120) or BPC (n ¼ 117). Patient characteristics were balanced, median age was 54 years (range, 23-80 years), and median KPS was 80 (range, 50-100). One quarter of the patients had debulking surgery, and over half of the patients were at their second or later recurrence. OS in the intent-to-treat (ITT) population was equivalent in TTF versus BPC patients (median OS, 6.6vs. 6.0 months; n ¼ 237; p ¼ 0.26; HR ¼ 0.86). With a median follow-up of 33.6 months, long-term survival in the TTF group was higher than that in the BPC group at 2, 3, and 4 years of follow-up (9.3% vs. 6.6%; 8.4% vs. 1.4%; 8.4% vs. 0.0%, respectively). Analysis of patients who received at least one treatment course demonstrated a survival benefit for TTF patients compared to BPC patients (median OS, 7.8 vs. 6.0 months; n ¼ 93 vs. n ¼ 117; p ¼ 0.012; HR ¼ 0.69). In this group, 1-year survival was 28% vs. 20%, and PFS6 was 26.2% vs. 15.2% (p ¼ 0.034). TTF, a noninvasive, novel cancer treatment modality shows significant therapeutic efficacy with promising long-term survival results. The impact of TTF was more pronounced when comparing only patients who received the minimal treatment course. A large-scale phase III trial in newly diagnosed GBM is ongoing.

Sensing, uptake and response to c4-dicarboxylic acids in pseudomonas aeruginosa pao1

C4-dicarboxylates are one of the preferred carbon and energy sources for the growth of P. aeruginosa, a ubiquitous and metabolically versatile bacterium. However, despite their importance, C4-dicarboxylates sensing and uptake systems were poorly understood in P. aeruginosa and only little information was available in the literature. In our work, the C4-dicarboxylate transport (Dct) system in P. aeruginosa was found to be composed of a novel two-component system, called DctB/DctD, regulating together with the sigma factor RpoN the expression of two newly identified C4-dicarboxylate transporters: DctA and DctPQM. Inactivation of the dct A, dctB or dctD gene caused a growth defect of the strain in minimal media supplemented with succinate, fumarate or malate, indicating their major role in Dct. However, residual growth of the dctA mutant in these media suggested the presence of redundant C4-dicarboxylate transporter(s). Tn5 insertion mutagenesis of the kdctA mutant, combined with a screening for growth on succinate, led to the identification of a second Dct system, the DctPQM transporter, belonging to the tripartite ATP-independent periplasmic (TRAP) family of carriers. AdctAAdctPQM double mutant showed no growth on malate and fumarate albeit residual growth on succinate suggested that additional transporters for succinate are present. Competition experiments demonstrated that the DctPQM carrier was more efficient than the DctA carrier for the utilization of succinate at μΜ concentrations, whereas DctA was the major transporter at mM concentrations. For the first time, high- and low-affinity uptake systems for succinate (DctA and DctPQM) are reported to function co-ordinately to transport C4- dicarboxylates. Most probably, the presence of redundant uptake systems contributes to the versatility of this bacterium. Next, the regulation of the Dct system was investigated. While performing a parallel study about the carbon catabolite repression (CCR) phenomenon in P. aeruginosa, a link between the CCR cascade (CbrAB/CrcZ/Crc) and the Dct system was observed. Crc is a translational repressor acting when preferred carbon sources (like C4-dicarboxylates) are present. CrcZ is a small RNA acting as a functional antagonist of Crc and induced by the CbrA/CbrB two-component system when non preferred carbon sources (like mannitol) are utilized. Novel targets of the CbrAB/CrcZ/Crc system in P. aeruginosa were identified using transcriptome analysis; among them dctA and dctPQM were detected. CCR is regulating the dct transporter genes expression depending on the succinate concentrations in the medium of growth; this modulation of CCR is possible because, at the same time, succinate concentrations tune CCR. In a medium containing high succinate concentrations, CrcZ levels were low and therefore Crc inhibited the translation of mRNA targets. Whereas in a medium containing low succinate concentrations, the subsequent increase of CrcZ levels sequestered Crc, inhibiting its activity. This model shows for the first time that CCR possesses a feedback-based circuitry, a very important type of regulatory loop that confers the best adaptive response under changing environmental conditions. The expression of the dct transporter genes is also found to be regulated by the RNA chaperone protein Hfq. Hfq has the same post-transcriptional effect than Crc at high concentration of succinate, i.e. inhibiting dctP and dctR and indirectly favouring dctA expression. Moreover, an additional indirect positive regulation of dctP expression by Hfq was found. Finally, a metabolome approach was performed to investigate the internal signals modulating CCR via induction of CbrA activity in P. aeruginosa PAOl and P. putida KT2442. The results of the analysis are currently under study in the laboratory. - Les acides C4-dicarboxyliques font partie des sources de carbone et d'énergie préférés de P. aeruginosa, une bactérie versatile et ubiquitaire. Néanmoins, malgré leur importance, comment la présence des acides C4-dicarboxyliques dans le milieu est sentie par la bactérie et comment ils sont transportés dans la cellule chez P. aeruginosa n'étaient pas connus. De plus, peu d'informations sur ces procédés ont été répertoriées dans la littérature. Grace à notre travail, le système de transport des acides C4-dicarboxyliques (Dct) chez P. aeruginosa a pu être caractérisé. En effet, il est composé d'un nouveau système à deux composants, nommé DctB/DctD, qui régule, en combinaison avec le facteur sigma alternatif RpoN, l'expression des deux nouveaux transporteurs des acides C4-dicarboxyliques: DctA et DctPQM. L'inactivation des gènes dctA, dctB or dctD cause un défaut de croissance des souches mutantes dans un milieu minimum contenant du succinate, fumarate ou malate; confirmation de leur rôle dans le Dct. Cependant, une croissance résiduelle du mutant dctA dans ces milieux suggérerait une redondance des transporteurs d'acides Grdicarboxyliques. Une expérience de mutagenèse dans la souche AdctA, utilisant le transposon Tn5, combiné avec un criblage génétique sur la croissance dans le succinate, nous a permis d'identifier le deuxième transporteur DctPQM. DctPQM appartient à la famille des transporteurs TRAP (tripartite ATP-independent periplasmic). Un double mutant AdctAAdctPQM ne pousse pas dans du malate ou fumarate mais par contre présente une croissance résiduelle dans le succinate suggérant l'existence de transporteurs supplémentaires pour le succinate. En réalisant des expériences de compétitions nous avons démontré que le transporteur DctPQM est plus efficace que le transporteur DctA pour l'utilisation de succinate à une concentration de l'ordre du μΜ. Par contre, DctA est le transporteur le plus important pour une concentration de succinate de l'ordre du raM. Pour la première fois, deux systèmes de transport, un avec une forte- et un avec une faible-affinité (DctA et DctPQM) pour le succinate, sont coordonnés dans leur activité de transport des acides C4- dicarboxyliques, probablement contribuant à la versatilité de la bactérie. Ensuite, nous avons étudié la régulation du system Dct. En effectuant, en parallèle, une étude sur le phénomène de la répression catabolique (RC) chez P. aeruginosa, un lien entre la RC et le système Dct a été observé. La cascade des régulateurs formant la RC est composée de CbrA/CbrB, CrcZ et Crc. Crc est un répresseur traductionnel qui agit quand des sources de carbone préférées (comme les acides C4-dicarboxyliques) sont présentes dans le milieu. CrcZ est un petit ARN non-codant qui agit comme antagoniste de Crc. L'expression de CrcZ est induite par le système à deux composants CbrA/CbrB lorsque une source de carbone non-préférée est utilisée (comme le mannitol). Des nouvelles cibles du système CbrAB/CrcZ/Crc chez P. aeruginosa ont été identifiées grâce à une analyse du transcriptome des souches mutantes des régulateurs de la cascade. Parmi les cibles identifiées, les gènes dctA et dctPQM étaient présents. La RC régule l'expression des transporteurs dct en fonction de la concentration de succinate dans le milieu de croissance. Cette régulation est possible parce que, en même temps, les acides C4- dicarboxyliques régulent la RC. Dans un milieu contenant une grande concentration du succinate, le niveau d'expression de CrcZ est faible, donc Crc peut inhiber l'expression de ces ARN messagers cibles. Par contre, dans un milieu avec une faible concentration de succinate, l'augmentation de l'expression de CrcZ titre Crc et inhibe son activité. Ce modèle de régulation rétroactive est très important pour le phénomène de la RC, parce qu'il permet à la bactérie d'accorder une meilleure réponse à un changement environnemental. L'expression des gènes codant pour les transporteurs dct sont aussi régulés par la protéine chaperonne d'ARN Hfq. Hfq semble avoir le même effet traductionnelle que Crc, lorsqu'il y a une forte concentration de succinate. Nous avons ainsi observé une régulation négative de l'expression du gène dct Ρ et dctR, qui code pour un répresseur de la transcription de dctA. Nous avons aussi observé une régulation positive de la transcription de dctP par Hfq, probablement de façon indirecte. Enfin, une analyse du metabolome a était utilisée pour chercher les signaux internes modulant la RC et, en particulier, l'activité de la protéine senseur CbrA chez P. aeruginosa PAOl et P. putida KT2442. Les résultats de l'analyse sont en cours d'étude dans le laboratoire.

La campaña institucional “rumanos en Europa”, como fenómeno integrador ante la inmigración en España e Italia

La inmigración rumana en España e Italia ha constituido un fenómeno único, tanto por su magnitud como por el corto espacio de tiempo en el que se ha producido. Sin embargo, existe una evidente percepción negativa de los españoles e italianos hacia los rumanos, que se debe en una medida considerable al discurso mediático. Dadas las situaciones, el Gobierno rumano llevó a cabo una campaña institucional, para corregir la imagen generalizada hacia los ciudadanos rumanos, que tuvo dos propósitos: la integración y la aceptación. El presente trabajo representa un proyecto de investigación de los efectos de dicha campaña entre los inmigrantes rumanos y las comunidades autóctonas de los dos países: Italia y España. El diseño de la investigación se centra en dos ciudades con un número elevado de inmigrantes rumanos, como son Barcelona y Milano. Se utiliza el análisis cualitativo, representado por los grupos de discusión, para indagar las opiniones, los sentimientos de afinidad, indiferencia o rechazo del público objeto hacia la campaña.

IKEA- Una compañía multinacional en la época de la globalización. La influencia de la cultura en la comunicación publicitaria

El fenómeno de la globalización es cada vez más presente en la vida cotidiana. Juntocon este proceso, se han desarrollado las compañías multinacionales. El reto de estas compañías es de sobrevivir en medios distintos y de adaptarse a cada público, que tiene sus especificidades.Las estrategias de comunicación se crean conforme con las exigencias de cada mercado local.¿Cuál es el papel de la cultura en el proceso de creación de las campañas de comunicación de las compañías multinacionales? ¿Qué indicios nos dan los eslóganes publicitarios sobre la relaciónque se establece entre la identidad del producto y las influencias culturales

Los retos presentes y futuros de las agencias de medios en España

La revolución tecnológica en la que estamos inmersos está afectando a los consumidores, a las marcas y muy especialmente a los medios de comunicación, lo que obliga a las agencias de medios a reformular tanto susestructuras organizativas como los servicios que ofrecen a los anunciantes. En un momento además caracterizado por una grave crisis económica que hace que las inversiones publicitarias de hoy en día estén retrocediendo hasta niveles de hace cinco años atrás.En esta investigación realizaré un análisis retrospectivo de este tipo de agencias desde los años 70 hasta nuestros días, analizando los factores que han impulsado a que las agencias de medios estén cambiando, continuando de este modo con la línea de investigación abierta por el Dr. Francisco Javier Pérez-Latre de la Universidad de Navarra y autor de la tesis “Centrales deCompra de Medios”.

Female stereotypes in household appliances advertising and their social role in Spain: the perpetuation of a no- longer-existing female condition

The following dissertation proposes a qualitative approach on the matter ofadvertising, society and construction of identity, based on the effect of householdappliances commercials in constructing female identity of Spanish women today.Conclusions will be drawn based on a juxtaposition of social background andadvertising content and on how Spanish women of today perceive the evolution offemale imagery depicted in advertisements. The aim is to demonstrate how muchcommercials mirrors society and how far it reinforces paradigms no longer existing