Cambios de CEO y presidentes de directorio en el Perú : un enfoque para las empresas peruanas con mayor frecuencia de negociación en la BVL de 1992 al 2014

Esta investigación tiene como objetivo determinar si los anuncios de cambios de CEO y presidentes de Directorio de las empresas listadas en la Bolsa de Valores de Lima (BVL) afectan el valor de la firma en los días cercanos al anuncio. Fue la pronta salida de Steve Jobs como CEO de Apple Inc., a causa de una enfermedad mortal, lo que nos generó el cuestionamiento respecto a cuál sería el desempeño que tienen las acciones cuyas compañías pasan por eventos similares. Como se sabe, el mercado castigó la acción de Apple el día de la muerte de Steve Jobs, con caídas superiores al 2% el día del anuncio. ¿Tendrían los mercados desarrollados y emergentes el mismo comportamiento?, ¿los eventos de cambio de CEO generan las mismas reacciones en los países emergentes? Grande fue nuestra sorpresa al observar, a nivel local, cambios en la gerencia general como en Backus & Johnston (3/9/2013) sin un efecto significativo en el mercado, pues incluso el mercado no negoció dicho valor hasta el 19/9/2013. Con el objetivo de obtener una respuesta a las consultas inicialmente planteadas, se aplicó la metodología denominada Event Analysis, la cual ya ha sido utilizada para evaluar la existencia de retornos anormales ante cambios en CEO y presidentes de Directorio en mercados desarrollados como EE. UU., Países Bajos, Australia, España, etc., y también en mercados emergentes como Colombia, Chile y México. Nuestro estudio para el mercado peruano consistió en una muestra conformada por las cincuenta empresas cuyas acciones son las de mayor frecuencia de negociación en la BVL. Se tomó en consideración todos los eventos de cambio de CEO y presidentes de Directorio entre 1992 y el 2014. De acuerdo con los resultados de la investigación realizada, la existencia de retornos anormales en los cambios de CEO y presidentes de Directorio no son estadísticamente significativos, por lo que no podrían ser usado para generar estrategias del tipo Event-driven por parte de los hedge funds. La razón predominante es la alta volatilidad de los resultados y la poca profundidad del mercado que cuenta con poca liquidez; asimismo, el hecho de tener eventos relevantes que no son tomados en cuenta por el mercado.

NETCODE: an XOR-based warning dissemination scheme for vehicular wireless networks

The next generation of vehicles will be equipped with automated Accident Warning Systems (AWSs) capable of warning neighbouring vehicles about hazards that might lead to accidents. The key enabling technology for these systems is the Vehicular Ad-hoc Networks (VANET) but the dynamics of such networks make the crucial timely delivery of warning messages challenging. While most previously attempted implementations have used broadcast-based data dissemination schemes, these do not cope well as data traffic load or network density increases. This problem of sending warning messages in a timely manner is addressed by employing a network coding technique in this thesis. The proposed NETwork COded DissEmination (NETCODE) is a VANET-based AWS responsible for generating and sending warnings to the vehicles on the road. NETCODE offers an XOR-based data dissemination scheme that sends multiple warning in a single transmission and therefore, reduces the total number of transmissions required to send the same number of warnings that broadcast schemes send. Hence, it reduces contention and collisions in the network improving the delivery time of the warnings. The first part of this research (Chapters 3 and 4) asserts that in order to build a warning system, it is needful to ascertain the system requirements, information to be exchanged, and protocols best suited for communication between vehicles. Therefore, a study of these factors along with a review of existing proposals identifying their strength and weakness is carried out. Then an analysis of existing broadcast-based warning is conducted which concludes that although this is the most straightforward scheme, loading can result an effective collapse, resulting in unacceptably long transmission delays. The second part of this research (Chapter 5) proposes the NETCODE design, including the main contribution of this thesis, a pair of encoding and decoding algorithms that makes the use of an XOR-based technique to reduce transmission overheads and thus allows warnings to get delivered in time. The final part of this research (Chapters 6--8) evaluates the performance of the proposed scheme as to how it reduces the number of transmissions in the network in response to growing data traffic load and network density and investigates its capacity to detect potential accidents. The evaluations use a custom-built simulator to model real-world scenarios such as city areas, junctions, roundabouts, motorways and so on. The study shows that the reduction in the number of transmissions helps reduce competition in the network significantly and this allows vehicles to deliver warning messages more rapidly to their neighbours. It also examines the relative performance of NETCODE when handling both sudden event-driven and longer-term periodic messages in diverse scenarios under stress caused by increasing numbers of vehicles and transmissions per vehicle. This work confirms the thesis' primary contention that XOR-based network coding provides a potential solution on which a more efficient AWS data dissemination scheme can be built.

Genetic Programming meets Model-Driven Development

Genetic programming is known to provide good solutions for many problems like the evolution of network protocols and distributed algorithms. In such cases it is most likely a hardwired module of a design framework that assists the engineer to optimize specific aspects of the system to be developed. It provides its results in a fixed format through an internal interface. In this paper we show how the utility of genetic programming can be increased remarkably by isolating it as a component and integrating it into the model-driven software development process. Our genetic programming framework produces XMI-encoded UML models that can easily be loaded into widely available modeling tools which in turn posses code generation as well as additional analysis and test capabilities. We use the evolution of a distributed election algorithm as an example to illustrate how genetic programming can be combined with model-driven development. This example clearly illustrates the advantages of our approach – the generation of source code in different programming languages.

Binary integer programming formulations for scheduling in market-driven foundries

This paper describes the development and solution of binary integer formulations for production scheduling problems in market-driven foundries. This industrial sector is comprised of small and mid-sized companies with little or no automation, working with diversified production, involving several different metal alloy specifications in small tailor-made product lots. The characteristics and constraints involved in a typical production environment at these industries challenge the formulation of mathematical programming models that can be computationally solved when considering real applications. However, despite the interest on the part of these industries in counting on effective methods for production scheduling, there are few studies available on the subject. The computational tests prove the robustness and feasibility of proposed models in situations analogous to those found in production scheduling at the analyzed industrial sector. (C) 2010 Elsevier Ltd. All rights reserved.

A mixed-integer linear programming approach to the optimization of event-bus schedules: a scheduling application in the tourism sector

This paper deals with “The Enchanted Journey,” which is a daily event tour booked by Bollywood-film fans. During the tour, the participants visit original sites of famous Bollywood films at various locations in Switzerland; moreover, the tour includes stops for lunch and shopping. Each day, up to five buses operate the tour. For operational reasons, however, two or more buses cannot stay at the same location simultaneously. Further operative constraints include time windows for all activities and precedence constraints between some activities. The planning problem is how to compute a feasible schedule for each bus. We implement a two-step hierarchical approach. In the first step, we minimize the total waiting time; in the second step, we minimize the total travel time of all buses. We present a basic formulation of this problem as a mixed-integer linear program. We enhance this basic formulation by symmetry-breaking constraints, which reduces the search space without loss of generality. We report on computational results obtained with the Gurobi Solver. Our numerical results show that all relevant problem instances can be solved using the basic formulation within reasonable CPU time, and that the symmetry-breaking constraints reduce that CPU time considerably.

Model-Driven safety evaluation with state-event-based component failure annotations

Over the past years, the paradigm of component-based software engineering has been established in the construction of complex mission-critical systems. Due to this trend, there is a practical need for techniques that evaluate critical properties (such as safety, reliability, availability or performance) of these systems. In this paper, we review several high-level techniques for the evaluation of safety properties for component-based systems and we propose a new evaluation model (State Event Fault Trees) that extends safety analysis towards a lower abstraction level. This model possesses a state-event semantics and strong encapsulation, which is especially useful for the evaluation of component-based software systems. Finally, we compare the techniques and give suggestions for their combined usage

Stepwise refinement of interrupt-driven real-time programs

Embedded real-time programs rely on external interrupts to respond to events in their physical environment in a timely fashion. Formal program verification theories, such as the refinement calculus, are intended for development of sequential, block-structured code and do not allow for asynchronous control constructs such as interrupt service routines. In this article we extend the refinement calculus to support formal development of interrupt-dependent programs. To do this we: use a timed semantics, to support reasoning about the occurrence of interrupts within bounded time intervals; introduce a restricted form of concurrency, to model composition of interrupt service routines with the main program they may preempt; introduce a semantics for shared variables, to model contention for variables accessed by both interrupt service routines and the main program; and use real-time scheduling theory to discharge timing requirements on interruptible program code.

An MRF based abnormal event detection approach using motion and appearance features

Abnormal event detection has attracted a lot of attention in the computer vision research community during recent years due to the increased focus on automated surveillance systems to improve security in public places. Due to the scarcity of training data and the definition of an abnormality being dependent on context, abnormal event detection is generally formulated as a data-driven approach where activities are modeled in an unsupervised fashion during the training phase. In this work, we use a Gaussian mixture model (GMM) to cluster the activities during the training phase, and propose a Gaussian mixture model based Markov random field (GMM-MRF) to estimate the likelihood scores of new videos in the testing phase. Further-more, we propose two new features: optical acceleration, and the histogram of optical flow gradients; to detect the presence of any abnormal objects and speed violations in the scene. We show that our proposed method outperforms other state of the art abnormal event detection algorithms on publicly available UCSD dataset.

Nonlinear programming solutions for controlling the vibration pattern of stretched strings

The problem of controlling the vibration pattern of a driven string is considered. The basic question dealt with here is to find the control forces which reduce the energy of vibration of a driven string over a prescribed portion of its length while maintaining the energy outside that length above a desired value. The criterion of keeping the response outside the region of energy reduction as close to the original response as possible is introduced as an additional constraint. The slack unconstrained minimization technique (SLUMT) has been successfully applied to solve the above problem. The effect of varying the phase of the control forces (which results in a six-variable control problem) is then studied. The nonlinear programming techniques which have been effectively used to handle problems involving many variables and constraints therefore offer a powerful tool for the solution of vibration control problems.

Two techniques to improve the precision of a demand-driven null-dereference verification approach

The problem addressed in this paper is sound, scalable, demand-driven null-dereference verification for Java programs. Our approach consists conceptually of a base analysis, plus two major extensions for enhanced precision. The base analysis is a dataflow analysis wherein we propagate formulas in the backward direction from a given dereference, and compute a necessary condition at the entry of the program for the dereference to be potentially unsafe. The extensions are motivated by the presence of certain ``difficult'' constructs in real programs, e.g., virtual calls with too many candidate targets, and library method calls, which happen to need excessive analysis time to be analyzed fully. The base analysis is hence configured to skip such a difficult construct when it is encountered by dropping all information that has been tracked so far that could potentially be affected by the construct. Our extensions are essentially more precise ways to account for the effect of these constructs on information that is being tracked, without requiring full analysis of these constructs. The first extension is a novel scheme to transmit formulas along certain kinds of def-use edges, while the second extension is based on using manually constructed backward-direction summary functions of library methods. We have implemented our approach, and applied it on a set of real-life benchmarks. The base analysis is on average able to declare about 84% of dereferences in each benchmark as safe, while the two extensions push this number up to 91%. (C) 2014 Elsevier B.V. All rights reserved.

Dynamics of the cold-water event off the southeast coast of the United States in the summer of 2003

The cold-water event along the southeast coast of the United States in the summer of 2003 is studied using satellite data combined with in situ observations. The analysis suggests that the cooling is produced by wind-driven coastal upwelling, which breaks the thermocline barrier in the summer of 2003. The strong and persistent southwesterly winds in the summer of 2003 play an important role of lifting the bottom isotherms up to the surface and away from the coast, generating persistent surface cooling in July-August 2003. Once the thermocline barrier is broken, the stratification in the nearshore region is weakened substantially, allowing further coastal cooling of large magnitudes by episodic southerly wind bursts or passage of coastally trapped waves at periods of a few days. These short-period winds or waves would otherwise have no effects on the surface temperature because of the strong thermocline barrier in summer if not for the low-frequency cooling produced by the persistent southwesterly winds.