Pricing of Liquidity Risks in London Stock Exchange

This thesis aims to investigate pricing of liquidity risks in London Stock Exchange. Liquidity Adjusted Capital Asset Pricing Model i.e. LCAPM developed by Acharya and Pedersen (2005) is being applied to test the influence of various liquidity risks on stock returns in London Stock Exchange. The Liquidity Adjusted Capital Asset Pricing model provides a unified framework for the testing of liquidity risks. All the common stocks listed and delisted for the period of 2000 to 2014 are included in the data sample. The study has incorporated three different measures of liquidity – Percent Quoted Spread, Amihud (2002) and Turnover. The reason behind the application of three different liquidity measures is the multi-dimensional nature of liquidity. Firm fixed effects panel regression is applied for the estimation of LCAPM. However, the results are robust according to Fama-Macbeth regressions. The results of the study indicates that liquidity risks in the form of (i) level of liquidity, (ii) commonality in liquidity (iii) flight to liquidity, (iv) depressed wealth effect and market return as well as aggregate liquidity risk are priced at London Stock Exchange. However, the results are sensitive to the choice of liquidity measures.

Design and Material Selection of High-Speed Rotating Electrical Machines

The increasing emphasis on energy efficiency is starting to yield results in the reduction in greenhouse gas emissions; however, the effort is still far from sufficient. Therefore, new technical solutions that will enhance the efficiency of power generation systems are required to maintain the sustainable growth rate, without spoiling the environment. A reduction in greenhouse gas emissions is only possible with new low-carbon technologies, which enable high efficiencies. The role of the rotating electrical machine development is significant in the reduction of global emissions. A high proportion of the produced and consumed electrical energy is related to electrical machines. One of the technical solutions that enables high system efficiency on both the energy production and consumption sides is high-speed electrical machines. This type of electrical machines has a high system overall efficiency, a small footprint, and a high power density compared with conventional machines. Therefore, high-speed electrical machines are favoured by the manufacturers producing, for example, microturbines, compressors, gas compression applications, and air blowers. High-speed machine technology is challenging from the design point of view, and a lot of research is in progress both in academia and industry regarding the solution development. The solid technical basis is of importance in order to make an impact in the industry considering the climate change. This work describes the multidisciplinary design principles and material development in high-speed electrical machines. First, high-speed permanent magnet synchronous machines with six slots, two poles, and tooth-coil windings are discussed in this doctoral dissertation. These machines have unique features, which help in solving rotordynamic problems and reducing the manufacturing costs. Second, the materials for the high-speed machines are discussed in this work. The materials are among the key limiting factors in electrical machines, and to overcome this limit, an in-depth analysis of the material properties and behavior is required. Moreover, high-speed machines are sometimes operating in a harsh environment because they need to be as close as possible to the rotating tool and fully exploit their advantages. This sets extra requirements for the materials applied.

Resolución N° 134 ¿Cuál es el control de legalidad de la Cámara de Comercio de Bogotá frente a las actas sobre las cuales se alega falsedad ideológica o material? - la denominación del acta no determina la naturaleza de la reunión

Servicios registrales

Resolución N° 18 ¿En que consiste la presunción de autenticidad en materia de actas contentivas de decisiones sociales? ¿Es la Cámara de Comercio competente para evaluar la validez material de un acta presentada para registro?

Servicios registrales

Resolución N° 113 ¿Cuál es el alcance del control de legalidad de las cámaras de comercio respecto de los nombramientos? ¿Qué naturaleza tiene dicho control- es formal o material? ¿Es competente la Cámara respecto del control sobre presuntas falsedades del documento presentado para registro?

Servicios registrales

Resolución N° 05 ¿Puede la cámara de comercio pronunciarse respecto del contenido de un acta cuando se alega falsedad material e ideológica de la misma? ¿Cuáles son los elementos sobre los cuales la cámara de comercio puede pronunciarse cuando evalúa un acta?

Servicios registrales

Material 2 - Vasos en línea

Desarrollo empresarial y creación de empresa

Material hoja 20 usos del clip

Desarrollo empresarial y creación de empresa

Material para el participante

Desarrollo empresarial y creación de empresa

Material participante Cápsula ¿Cómo conseguir y conservar un buen socio?

Desarrollo empresarial y creación de empresa

Material participante taller

Desarrollo empresarial y creación de empresa

Material Pigmalion - Supera tus límites para crear empresa

Desarrollo empresarial y creación de empresa

Material Pigmalion - Supera tus límites para crear empresa

Desarrollo empresarial y creación de empresa

Material Taller 1 - Empresario Integral

Desarrollo empresarial y creación de empresa