894 resultados para Liquidity Risks


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Inversiones ABC S.A.S es una empresa colombiana situada en la ciudad de Bogotá, la cual ofrece servicios cambiarios y de intermediación financiera al segmento específico de las empresas de transporte terrestre de carga en la capital del país. La actividad principal de la empresa consiste en el cambio de cheques y la compra de facturas (factoring). Derivados de dicha actividad se ofrecen los siguientes servicios; servicio por ventanilla, servicio puerta a puerta (a domicilio) y consignaciones y giros en bancos y otras entidades como Efecty, Super giros, Western Union (giros y finanzas) y demás casas de giros presentes actualmente en el país. Con base en lo anterior, es posible afirmar que la liquidez constituye en elemento fundamental para el óptimo funcionamiento de los procesos de la compañía. Sin embargo, la tenencia de altas sumas de dinero en efectivo supone también una serie de riesgos asociados a la problemática de inseguridad en la capital del país. Anteriormente, se han presentado asaltos a la sede principal los cuales generalmente resultan en pérdidas económicas que afectan los resultados de la compañía al igual que acciones violentas contra los empleados que atentan contra su integridad física. 1 Teniendo en cuenta que la inseguridad en Bogotá es una amenaza constante, que afecta la operación de la empresa y podría inclusive amenazar su perdurabilidad, el presente trabajo tiene como fin determinar estrategias viables que permitan a la compañía contrarrestar el accionar delictivo de los grupos criminales que amenazan su operación.

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This article addresses the effects of the prohibition against naked CDS buying implemented by the European Union in November 2012. Three aspects of market quality are analyzed: liquidity, volatility, and price informativeness. Overall, our results suggest that the ban produced negative effects on liquidity and price informativeness. First, we find that in territories within the scope of the EU regulation, the bid–ask spreads on sovereign CDS contracts rose after the ban, but fell for countries outside its bounds. Open interest declined for both groups of CDS reference entities in our sample, but significantly more in the constraint group. Price delay increased more prominently for countries affected by the ban, whereas price precision decreased for these countries while increasing for CDSs written on other sovereign reference entities. Most notably, our findings indicate that hese negative effects were more pronounced amid reference entities exhibiting lower credit risk. With respect to volatility, the evidence suggests that the ban was successful in stabilizing the CDS market in that volatility decreased, particularly for contracts written on riskier CDS entities.

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Esse artigo pretende discutir como as transformações tecnológicas vêm influenciando a ciência geográfica, especificamente com o advento das geotecnologias. Diante de inúmeras potencialidades e aplicações na análise e gestão territorial, nós devemos refletir sobre seu real significado, que certamente ultrapassa o caráter meramente técnico. É necessário compreender a vasta dimensão social, política e econômica que abrangem. Atualmente as técnicas são cada vez mais utilizadas, aceitas e menos compreendidas, o que pode implicar riscos para a sociedade em função de interpretações equivocadas e muitas vezes desprovidas de princípios éticos. Vinte anos após a “unificação” do mundo com a queda do Muro de Berlim, o cenário sociocultural e político se redefine em um paradigma de contradições. As inovações tecnológicas funcionam como um instrumento emblemático subordinado ao mercado financeiro e a globalização marca a atual fase do capitalismo, que segue seu curso encontrando as limitações inerentes à tecnologia em que se sustenta. This paper intends to discuss how the technological changes have affected the geographical science, specifically with the advent of geotechnologies. Up against with great potential and applications in analysis and land management, we must to reflect on its real meaning, which certainly goes beyond the merely technical. It’s necessary to understand the broad social, political and economic dimension wich inclued. Currently, the techniques are increasingly used, accepted and least understood, which may to implicate a risk to society due to misinterpretation and often devoid of ethical principles. Twenty years after the "unification" of the world with the fall of the Berlin Wall, the cultural and political landscape was altered in a paradigm of contradictions. Technological innovations work as a emblematic instrument subordinate to financial markets and globalization marks the current phase of capitalism, which runs its course finding the limitations inherent in the technology which supports.

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Changing or creating an organisation means creating a new process. Each process involves many risks that need to be identified and managed. The main risks considered here are procedural and legal risks. The former are related to the risks of errors that may occur during processes, while the latter are related to the compliance of processes with regulations. Managing the risks implies proposing changes to the processes that allow the desired result: an optimised process. In order to manage a company and optimise it in the best possible way, not only should the organisational aspect, risk management and legal compliance be taken into account, but it is important that they are all analysed simultaneously with the aim of finding the right balance that satisfies them all. This is the aim of this thesis, to provide methods and tools to balance these three characteristics, and to enable this type of optimisation, ICT support is used. This work isn’t a thesis in computer science or law, but rather an interdisciplinary thesis. Most of the work done so far is vertical and in a specific domain. The particularity and aim of this thesis is not to carry out an in-depth analysis of a particular aspect, but rather to combine several important aspects, normally analysed separately, which however have an impact and influence each other. In order to carry out this kind of interdisciplinary analysis, the knowledge base of both areas was involved and the combination and collaboration of different experts in the various fields was necessary. Although the methodology described is generic and can be applied to all sectors, the case study considered is a new type of healthcare service that allows patients in acute disease to be hospitalised to their home. This provide the possibility to perform experiments using real hospital database.

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Nowadays, cities deal with unprecedented pollution and overpopulation problems, and Internet of Things (IoT) technologies are supporting them in facing these issues and becoming increasingly smart. IoT sensors embedded in public infrastructure can provide granular data on the urban environment, and help public authorities to make their cities more sustainable and efficient. Nonetheless, this pervasive data collection also raises high surveillance risks, jeopardizing privacy and data protection rights. Against this backdrop, this thesis addresses how IoT surveillance technologies can be implemented in a legally compliant and ethically acceptable fashion in smart cities. An interdisciplinary approach is embraced to investigate this question, combining doctrinal legal research (on privacy, data protection, criminal procedure) with insights from philosophy, governance, and urban studies. The fundamental normative argument of this work is that surveillance constitutes a necessary feature of modern information societies. Nonetheless, as the complexity of surveillance phenomena increases, there emerges a need to develop more fine-attuned proportionality assessments to ensure a legitimate implementation of monitoring technologies. This research tackles this gap from different perspectives, analyzing the EU data protection legislation and the United States and European case law on privacy expectations and surveillance. Specifically, a coherent multi-factor test assessing privacy expectations in public IoT environments and a surveillance taxonomy are proposed to inform proportionality assessments of surveillance initiatives in smart cities. These insights are also applied to four use cases: facial recognition technologies, drones, environmental policing, and smart nudging. Lastly, the investigation examines competing data governance models in the digital domain and the smart city, reviewing the EU upcoming data governance framework. It is argued that, despite the stated policy goals, the balance of interests may often favor corporate strategies in data sharing, to the detriment of common good uses of data in the urban context.

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Contaminants of emerging concern are increasingly detected in the water cycle, with endocrine-disrupting chemicals (EDCs) receiving attention due to their potential to cause adverse health effects even at low concentrations. Although the EU has recently introduced some EDCs into drinking water legislation, most drinking water treatment plants (DWTPs) are not designed to remove EDCs, making their detection and removal in DWTPs an important challenge. The aim of this doctoral project was to investigate hormones and phenolic compounds as suspected EDCs in drinking waters across the Romagna area (Italy). The main objectives were to assess the occurrence of considered contaminants in source and drinking water from three DWTPs, characterize the effectiveness of removal by different water treatment processes, and evaluate the potential biological impact on drinking water and human health. Specifically, a complementary approach of target chemical analysis and effect-based methods was adopted to explore drinking water quality, treatment efficacy, and biological potential. This study found that nonylphenol (NP) was prevalent in all samples, followed by BPA. Sporadic contamination of hormones was found only in source waters. Although the measured EDC concentrations in drinking water did not exceed threshold guideline values, the potential role of DWTPs as an additional source of EDC contamination should be considered. Significant increases in BPA and NP levels were observed during water treatment steps, which were also reflected in estrogenic and mutagenic responses in water samples after the ultrafiltration. This highlights the need to monitor water quality during various treatment processes to improve the efficiency of DWTPs. Biological assessments on finished water did not reveal any bioactivity, except for few treated water samples that exhibited estrogenic responses. Overall, the data emphasize the high quality of produced drinking water and the value of applying integrated chemical analysis and in vitro bioassays for water quality assessment.

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Agriculture market instability impedes achieving the global goal of sustainable and resilient food systems. Currently, the support to producers reaches the mammoth USD 540 billion a year and is projected to reach USD 1.8 trillion by 2030. This gigantic increase requires a repurposing agricultural support strategy (RASS), considering the market country-specific circumstances. These circumstances may vary with geographic locations, marketing structures, and product value chains. The fruit production system is crucial for health-conscious consumers and profit-oriented producers for food and nutritional security. Export is one of the main driving forces behind the expansion of the fruit sector, and during the year 2010-2018, trade significantly outpaced production increases. The previous literature states that irregular and unpredictable behaviour — Chaos — can arise from entirely rational economic decision-making within markets. Different markets' direct/indirect linkages through trade create trade hubs, and uncertainty may function as an avenue to transmit adverse shocks and increase vulnerability rather than contribute to resilience. Therefore, distinguishing Chaos into an endogenous and exogenous pattern of behaviour is cradled to formulate an effective RASS for resilient food systems and to understand global food crises. The present research is aimed at studying the market dynamics of three regional trade hubs, i.e., Brazil (South America), Italy (Europe), and Pakistan (Asia), each representing advanced to traditional value chains to control uncertainty (risks). The present research encompasses 1) a systematic review to highlight the research dynamism and identify grey-areas of research. Based on the findings, we have investigated the 2) nonlinear impacts of climate-induced price responsiveness in monopsony markets. Once we highlighted the importance of marketing structures/arrangements, 3) we developed a risk transmission framework to address the co-evolving impacts in complex dynamic interactions.

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Interpreting involves occupational health risks that can affect interpreters’ health both on the physiological and psychological level. The aim of this study is to raise awareness about occupational health risks for interpreters and the importance of protecting interpreter’s health. In interpreting studies health risks are usually discussed with regard to professional interpreting and according to the traditional distinctions between signed and spoken language, interpreting modes and settings. This exploratory study is an attempt to gather a body of knowledge on occupational health risks for interpreters and possible remedies independently of professional status and the above-mentioned distinctions. This was done by means of a review of relevant interpreting literature and the systematic exploration of materials produced or published by professional associations of interpreters, selected according to pre-defined criteria. The results were organised into macro-categories of occupational health risks and the items retrieved from the selected materials were inserted in a database.

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This article analyzes food insecurity and hunger in Brazilian families with children under five years of age. This was a nationally representative cross-sectional study using data from the National Demographic and Health Survey on Women and Children (PNDS-2006), in which the outcome variable was moderate to severe food insecurity, measured by the Brazilian Food Insecurity Scale (EBIA). Prevalence estimates and prevalence ratios were generated with 95% confidence intervals. The results showed a high prevalence of moderate to severe food insecurity, concentrated in the North and Northeast regions (30.7%), in economic classes D and E (34%), and in beneficiaries of conditional cash transfer programs (36.5%). Multivariate analysis showed that the socioeconomic relative risks (beneficiaries of conditional cash transfers), regional relative risks (North and Northeast regions), and economic relative risks (classes D and E) were 1.8, 2.0 and 2.4, respectively. Aggregation of the three risks showed 48% of families with moderate to severe food insecurity, meaning that adults and children were going hungry during the three months preceding the survey.

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Seizures in some 30% to 40% of patients with epilepsy fail to respond to antiepileptic drugs or other treatments. While much has been made of the risks of new drug therapies, not enough attention has been given to the risks of uncontrolled and progressive epilepsy. This critical review summarizes known risks associated with refractory epilepsy, provides practical clinical recommendations, and indicates areas for future research. Eight international epilepsy experts from Europe, the United States, and South America met on May 4, 2013, to present, review, and discuss relevant concepts, data, and literature on the consequences of refractory epilepsy. While patients with refractory epilepsy represent the minority of the population with epilepsy, they require the overwhelming majority of time, effort, and focus from treating physicians. They also represent the greatest economic and psychosocial burdens. Diagnostic procedures and medical/surgical treatments are not without risks. Overlooked, however, is that these risks are usually smaller than the risks of long-term, uncontrolled seizures. Refractory epilepsy may be progressive, carrying risks of structural damage to the brain and nervous system, comorbidities (osteoporosis, fractures), and increased mortality (from suicide, accidents, sudden unexpected death in epilepsy, pneumonia, vascular disease), as well as psychological (depression, anxiety), educational, social (stigma, driving), and vocational consequences. Adding to this burden is neuropsychiatric impairment caused by underlying epileptogenic processes (essential comorbidities), which appears to be independent of the effects of ongoing seizures themselves. Tolerating persistent seizures or chronic medicinal adverse effects has risks and consequences that often outweigh risks of seemingly more aggressive treatments. Future research should focus not only on controlling seizures but also on preventing these consequences.

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Mining activities pose severe environmental risks worldwide, generating extreme pH conditions and high concentrations of heavy metals, which can have major impacts on the survival of organisms. In this work, pyrosequencing of the V3 region of the 16S rDNA was used to analyze the bacterial communities in soil samples from a Brazilian copper mine. For the analysis, soil samples were collected from the slopes (geotechnical structures) and the surrounding drainage of the Sossego mine (comprising the Sossego and Sequeirinho deposits). The results revealed complex bacterial diversity, and there was no influence of deposit geographic location on the composition of the communities. However, the environment type played an important role in bacterial community divergence; the composition and frequency of OTUs in the slope samples were different from those of the surrounding drainage samples, and Acidobacteria, Chloroflexi, Firmicutes, and Gammaproteobacteria were responsible for the observed difference. Chemical analysis indicated that both types of sample presented a high metal content, while the amounts of organic matter and water were higher in the surrounding drainage samples. Non-metric multidimensional scaling (N-MDS) analysis identified organic matter and water as important distinguishing factors between the bacterial communities from the two types of mine environment. Although habitat-specific OTUs were found in both environments, they were more abundant in the surrounding drainage samples (around 50 %), and contributed to the higher bacterial diversity found in this habitat. The slope samples were dominated by a smaller number of phyla, especially Firmicutes. The bacterial communities from the slope and surrounding drainage samples were different in structure and composition, and the organic matter and water present in these environments contributed to the observed differences.

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In Brazil, malaria remains a disease of major epidemiological importance because of the high number of cases in the Amazonian Region. Plasmodium spp infections during pregnancy are a significant public health problem with substantial risks for the pregnant woman, the foetus and the newborn child. In Brazil, the control of malaria during pregnancy is primarily achieved by prompt and effective treatment of the acute episodes. Thus, to assure rapid diagnosis and treatment for pregnant women with malaria, one of the recommended strategy for low transmission areas by World Health Organization and as part of a strategy by the Ministry of Health, the National Malaria Control Program has focused on integrative measures with woman and reproductive health. Here, we discuss the approach for the prevention and management of malaria during pregnancy in Brazil over the last 10 years (2003-2012) using morbidity data from Malaria Health Information System. Improving the efficiency and quality of healthcare and education and the consolidation of prevention programmes will be challenges in the control of malaria during pregnancy in the next decade.

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Current literature has elucidated a new phenotype, metabolically healthy obese (MHO), with risks of cardiovascular disease similar to that of normal weight individuals. Few studies have examined the MHO phenotype in an aging population, especially in association with subclinical CVD. This cross sectional study population consisted of 208 octogenarians and older. Anthropometrics, biochemical, and radiological parameters were measured to assess obesity, metabolic health (assessed by the National Cholesterol Education Program -Adult Treatment Panel (NCEP-ATP III) criteria), and subclinical measures of CVD. The prevalence of MHO was 13.5% (N = 28). No significant association with MHO was noted for age, coronary artery calcium score, cIMT, or hs-CRP > 3 mg/dl (p = NS). Our results suggest that the MHO phenotype exists in the elderly; however, subclinical CVD measures were not different in sub-group analysis suggesting traditional metabolic risk factor algorithms may not be accurate in the very elderly.