Commenting, sharing and tweeting news : Measuring online news participation

Social plugins for sharing news through Facebook and Twitter have become increasingly salient features on news sites. Together with the user comment feature, social plugins are the most common way for users to contribute. The wide use of multiple features has opened new areas to comprehensively study users’ participatory practices. However, how do these opportunities to participate vary between the participatory spaces that news sites affiliated with local, national broadsheet and tabloid news constitute? How are these opportunities appropriated by users in terms of participatory practices such as commenting and sharing news through Facebook and Twitter? In addition, what differences are there between news sites in these respects? To answer these questions, a quantitative content analysis has been conducted on 3,444 articles from nine Swedish online newspapers. Local newspapers are more likely to allow users to comment on articles than are national newspapers. Tweeting news is appropriated only on news sites affiliated with evening tabloids and national morning newspapers. Sharing news through Facebook is 20 times more common than tweeting news or commenting. The majority of news items do not attract any user interaction.

A study on situational awareness security and privacy of wearable health monitoring devices

Situational Awareness provides a user centric approach to security and privacy. The human factor is often recognised as the weakest link in security, therefore situational perception and risk awareness play a leading role in the adoption and implementation of security mechanisms. In this study we assess the understanding of security and privacy of users in possession of wearable devices. The findings demonstrate privacy complacency, as the majority of users trust the application and the wearable device manufacturer. Moreover the survey findings demonstrate a lack of understanding of security and privacy by the sample population. Finally the theoretical implications of the findings are discussed.

Security and privacy of resource constrained devices

The thesis aims to present a comprehensive and holistic overview on cybersecurity and privacy & data protection aspects related to IoT resource-constrained devices. Chapter 1 introduces the current technical landscape by providing a working definition and architecture taxonomy of ‘Internet of Things’ and ‘resource-constrained devices’, coupled with a threat landscape where each specific attack is linked to a layer of the taxonomy. Chapter 2 lays down the theoretical foundations for an interdisciplinary approach and a unified, holistic vision of cybersecurity, safety and privacy justified by the ‘IoT revolution’ through the so-called infraethical perspective. Chapter 3 investigates whether and to what extent the fast-evolving European cybersecurity regulatory framework addresses the security challenges brought about by the IoT by allocating legal responsibilities to the right parties. Chapters 4 and 5 focus, on the other hand, on ‘privacy’ understood by proxy as to include EU data protection. In particular, Chapter 4 addresses three legal challenges brought about by the ubiquitous IoT data and metadata processing to EU privacy and data protection legal frameworks i.e., the ePrivacy Directive and the GDPR. Chapter 5 casts light on the risk management tool enshrined in EU data protection law, that is, Data Protection Impact Assessment (DPIA) and proposes an original DPIA methodology for connected devices, building on the CNIL (French data protection authority) model.

Globalization and risk sharing

We study the effects of globalization on risk sharing and welfare. Like previous literature, weassume that countries cannot commit to repay their debts. Unlike previous literature, we assumethat countries cannot discriminate between domestic and foreign creditors when repaying theirdebts. This creates novel interactions between domestic and international trade in assets. (i)Increases in domestic trade raise the bene.ts of enforcement and facilitate international trade.In fact, in our setup countries can obtain international risk sharing even in the absence of defaultpenalties. (ii) Increases in foreign trade .i.e. globalization.raise the costs of enforcement andhamper domestic trade. As a result, globalization may worsen domestic risk sharing and lowerwelfare. We show how these e¤ects depend on various characteristics of tradable goods andexplore the roles of borrowing limits, debt renegotiations, and trade policy.

Information sharing in R&D collaboration - Context-dependency and means of governance

Tiedon jakaminen ja kommunikointi ovat tärkeitä toimintoja verkostoituneiden yritysten välillä ja ne käsitetäänkin yhteistyösuhteen yhtenä menestystekijänä ja kulmakivenä. Tiedon jakamiseen liittyviä haasteita ovat mm. yrityksen liiketoiminnalle kriittisen tiedon vuotaminen ja liiketoiminnan vaatima tiedon reaaliaikaisuus ja riittävä määrä. Tuotekehitysyhteistyössä haasteellista on tiedon jäsentymättömyys ja sitä kautta lisääntyvä tiedon jakamisen tarve, minkä lisäksi jaettava tieto on usein monimutkaista ja yksityiskohtaista. Lisäksi tuotteiden elinkaaret lyhenevät, ja ulkoistaminen ja yhteistyö ovat yhä kasvavia trendejä liiketoiminnassa. Yhdessä nämä tekijät johtavat siihen, että tiedon jakaminen on haastavaa eritoten verkostoituneiden yritysten välillä. Tässä tutkimuksessa tiedon jakamisen haasteisiin pyrittiin vastaamaan ottamalla lähtökohdaksi tiedon jakamisen tilanneriippuvuuden ymmärtäminen. Työssä vastattiin kahteen pääkysymykseen: Mikä on tiedon jakamisen tilanneriippuvuus ja miten sitä voidaan hallita? Tilanneriippuvuudella tarkoitetaan työssä niitä tekijöitä, jotka vaikuttavat siihen, miten yritys jakaa tietoa tuotekehityskumppaneidensa kanssa. Tiedon jakamisella puolestaan tarkoitetaan yrityksestä toiselle siirrettävää tietoa, jota tarvitaan tuotekehitysprojektin aikana. Työn empiirinen aineisto on kerätty laadullisella tutkimusotteella case- eli tapaustutkimuksena yhdessä telekommunikaatioalan yrityksessä jasen eri liiketoimintayksiköissä. Tutkimusjoukko käsitti 19 tuotekehitys- ja toimittajanhallintatehtävissä toimivaa johtajaa tai päällikköä. Työ nojaa pääasiassa hankintojen johtamisen tutkimuskenttään ja tilanneriippuvuuden selvittämiseksi paneuduttiin erityisesti verkostojen tutkimukseen. Työssä kuvattiin tiedon jakaminen yhtenä verkoston toimintona ja yhteistyöhön liittyvättiedon jakamisen hyödyt, haasteet ja riskit identifioitiin. Tämän lisäksi työssä kehitettiin verkoston tutkimismalleja ja yhdistettiin eri tasoilla tapahtuvaa verkoston tutkimusta. Työssä esitettiin malli verkoston toimintojen tutkimiseksija todettiin, että verkostotutkimusta pitäisi tehdä verkosto, ketju, yrityssuhde- ja yritystasolla. Malliin on myös hyvä yhdistää tuote- ja tehtäväkohtaiset ominaispiirteet. Kirjallisuuskatsauksen perusteella huomattiin, että tiedon jakamista on aiemmin tarkasteltu lähinnä tuote- ja yrityssuhteiden tasolla. Väitöskirjassa esitettiin lisää merkittäviä tekijöitä, jotka vaikuttavat tiedon jakamiseen. Näitä olivat mm. tuotekehitystehtävän luonne, teknologia-alueen kypsyys ja toimittajan kyvykkyys. Tiedon jakamisen luonnetta tarkasteltaessa erotettiin operatiivinen, projektin hallintaan ja tuotekehitykseen liittyvä tieto sekä yleinen, toimittajan hallintaan liittyvä strateginen tieto. Tulosten mukaan erityisesti tuotekehityksen määrittelyvaihe ja tapaamiset kasvotusten korostuivat yhteistyössä. Empirian avulla tutkittiin myös niitä tekijöitä, joilla tiedon jakamista voidaan hallita tilanneriippuvuuteen perustuen, koska aiemmin tiedon jakamisen hallintakeinoja tai menestystekijöitä ei ole liitetty suoranaisesti eri olosuhteisiin. Nämä hallintakeinot jaettiin yhteistyötason- ja tuotekehitysprojektitason tekijöihin. Yksi työn keskeisistä tuloksista on se, että huolimatta tiedon jakamisen haasteista, monet niistä voidaan eliminoida tunnistamalla vallitsevat olosuhteet ja panostamalla tiedon jakamisen hallintakeinoihin. Työn manageriaalinen hyöty koskee erityisesti yrityksiä, jotka suunnittelevat ja tekevät tuotekehitysyhteistyötä yrityskumppaniensa kanssa. Työssä esitellään keinoja tämän haasteellisen tehtäväkentän hallintaan ja todetaan, että yritysten pitäisikin kiinnittää entistä enemmän huomiota tiedon jakamisen ja kommunikaation hallintaan jo tuotekehitysyhteistyötä suunniteltaessa.

Formal and informal mechanisms for knowledge protection and sharing

The most important knowledge in firms is mostly tacit and embedded in individuals within the organization. This background knowledge that firms possess is used for creation of new knowledge and innovations. As firms today greatly concentrate on their core competencies, they need external knowledge from various collaboration partners. Thus, collaborative relationship governance, as well as control (use of appropriability mechanisms) over background (the input from each firm in innovative activities) and foreground knowledge (the output of collaboration activities) is needed in order to successfully create and capture value from innovative activities without losing core knowledge and competitiveness. Even though research has concentrated on knowledge protection and knowledge sharing, studies that combine both of these views and examine the effects of sharing and protection on value creation and capture have been rather limited. Studies have mainly focused on the protection of the output of innovation while forgetting the protection of the input of innovation. On the other hand, as the research concentrating on the output of innovation tends to favor formal mechanisms, informal mechanisms have remained more unknown to researchers as well as managers. This research aims to combine the perspectives of knowledge sharing and knowledge protection and their relationship with value creation and value capture. The sharing and protection are viewed from two points of view: the use of appropriability mechanisms, as well as governance of the collaborative relationship. The study consists of two parts. The first part introduces the research topic and discusses the overall results. The second part comprises six complementary research publications. Both qualitative and quantitative research methods are used in the study. In terms of results, the findings enhance understanding of the combined use of formal and informal mechanisms for knowledge protection and sharing. Informal mechanisms appear to be emphasized in the protection of background knowledge, and thus are prerequisites for innovation, whereas formal mechanisms are relied on more for protecting the results of innovative activities. However, the simultaneous use of the formal and informal mechanisms that are relevant to the particular industry and innovation context is recommendedthroughout the collaborative innovation process. Further, the study adds to the current knowledge on HRM as an appropriability mechanism: on the firm level its uses include assessing and hedging against employee-related risks such as knowledge leaking and knowledge leaving. A further contribution is to the research on HRM protection and its interrelations with other appropriability mechanisms, its constituents, and its potential use in the area of knowledge protection.

Fly pollination and pollinator sharing in two synchronopatric species: Cordia multispicata (Boraginaceae) and Borreria alata (Rubiaceae)

The floral biology of Cordia multispicata (Boraginaceae) and Borreria alata (Rubiaceae) was studied in natural populations in a fragment of the Atlantic forest in Pernambuco, northeastern Brazil. Both species flower during almost the whole year. Cordia multispicata is a shrubby species with white, distylous and tubular flowers. Borreria alata is a herbaceous species. Its flowers are whitish, tubular and have a polymorphism in relation to the size of their style. Floral anthesis in both species begins at 6:00 a.m. Sugar concentration in the nectar was about 16% in C. multispicata and 30% in B. alata. Nine species of flies, mainly of the genus Palpada (Syrphidae), were observed visiting flowers of the two species. Seven of them were observed visiting and pollinating flowers of both C. multispicata and B. alata. Two species visited only flowers of C. multispicata, whereas no fly was exclusive to B. alata flowers. Both species have similar flower morphology, flowering time, habitats in the forest and establish populations very close to each other. These facts can favour the pollinators’ sharing and increase pollinator attraction.

The Ontario Municipal Freedom of Information and Protection of Individual Privacy Act: an analysis of its application to school boards

In Canada freedom of information must be viewed in the context of governing -- how do you deal with an abundance of information while balancing a diversity of competing interests? How can you ensure people are informed enough to participate in crucial decision-making, yet willing enough to let some administrative matters be dealt with in camera without their involvement in every detail. In an age when taxpayers' coalition groups are on the rise, and the government is encouraging the establishment of Parent Council groups for schools, the issues and challenges presented by access to information and protection of privacy legislation are real ones. The province of Ontario's decision to extend freedom of information legislation to local governments does not ensure, or equate to, full public disclosure of all facts or necessarily guarantee complete public comprehension of an issue. The mere fact that local governments, like school boards, decide to collect, assemble or record some information and not to collect other information implies that a prior decision was made by "someone" on what was important to record or keep. That in itself means that not all the facts are going to be disclosed, regardless of the presence of legislation. The resulting lack of information can lead to public mistrust and lack of confidence in those who govern. This is completely contrary to the spirit of the legislation which was to provide interested members of the community with facts so that values like political accountability and trust could be ensured and meaningful criticism and input obtained on matters affecting the whole community. This thesis first reviews the historical reasons for adopting freedom of information legislation, reasons which are rooted in our parliamentary system of government. However, the same reasoning for enacting such legislation cannot be applied carte blanche to the municipal level of government in Ontario, or - ii - more specifially to the programs, policies or operations of a school board. The purpose of this thesis is to examine whether the Municipal Freedom of Information and Protection of Privacy Act, 1989 (MFIPPA) was a neccessary step to ensure greater openness from school boards. Based on a review of the Orders made by the Office of the Information and Privacy Commissioner/Ontario, it also assesses how successfully freedom of information legislation has been implemented at the municipal level of government. The Orders provide an opportunity to review what problems school boards have encountered, and what guidance the Commissioner has offered. Reference is made to a value framework as an administrative tool in critically analyzing the suitability of MFIPPA to school boards. The conclusion is drawn that MFIPPA appears to have inhibited rather than facilitated openness in local government. This may be attributed to several factors inclusive of the general uncertainty, confusion and discretion in interpreting various provisions and exemptions in the Act. Some of the uncertainty is due to the fact that an insufficient number of school board staff are familiar with the Act. The complexity of the Act and its legalistic procedures have over-formalized the processes of exchanging information. In addition there appears to be a concern among municipal officials that granting any access to information may be violating personal privacy rights of others. These concerns translate into indecision and extreme caution in responding to inquiries. The result is delay in responding to information requests and lack of uniformity in the responses given. However, the mandatory review of the legislation does afford an opportunity to address some of these problems and to make this complex Act more suitable for application to school boards. In order for the Act to function more efficiently and effectively legislative changes must be made to MFIPPA. It is important that the recommendations for improving the Act be adopted before the government extends this legislation to any other public entities.

Practical and Foundational Aspects of Secure Computation

Il y a des problemes qui semblent impossible a resoudre sans l'utilisation d'un tiers parti honnete. Comment est-ce que deux millionnaires peuvent savoir qui est le plus riche sans dire a l'autre la valeur de ses biens ? Que peut-on faire pour prevenir les collisions de satellites quand les trajectoires sont secretes ? Comment est-ce que les chercheurs peuvent apprendre les liens entre des medicaments et des maladies sans compromettre les droits prives du patient ? Comment est-ce qu'une organisation peut ecmpecher le gouvernement d'abuser de l'information dont il dispose en sachant que l'organisation doit n'avoir aucun acces a cette information ? Le Calcul multiparti, une branche de la cryptographie, etudie comment creer des protocoles pour realiser de telles taches sans l'utilisation d'un tiers parti honnete. Les protocoles doivent etre prives, corrects, efficaces et robustes. Un protocole est prive si un adversaire n'apprend rien de plus que ce que lui donnerait un tiers parti honnete. Un protocole est correct si un joueur honnete recoit ce que lui donnerait un tiers parti honnete. Un protocole devrait bien sur etre efficace. Etre robuste correspond au fait qu'un protocole marche meme si un petit ensemble des joueurs triche. On demontre que sous l'hypothese d'un canal de diusion simultane on peut echanger la robustesse pour la validite et le fait d'etre prive contre certains ensembles d'adversaires. Le calcul multiparti a quatre outils de base : le transfert inconscient, la mise en gage, le partage de secret et le brouillage de circuit. Les protocoles du calcul multiparti peuvent etre construits avec uniquements ces outils. On peut aussi construire les protocoles a partir d'hypoth eses calculatoires. Les protocoles construits a partir de ces outils sont souples et peuvent resister aux changements technologiques et a des ameliorations algorithmiques. Nous nous demandons si l'efficacite necessite des hypotheses de calcul. Nous demontrons que ce n'est pas le cas en construisant des protocoles efficaces a partir de ces outils de base. Cette these est constitue de quatre articles rediges en collaboration avec d'autres chercheurs. Ceci constitue la partie mature de ma recherche et sont mes contributions principales au cours de cette periode de temps. Dans le premier ouvrage presente dans cette these, nous etudions la capacite de mise en gage des canaux bruites. Nous demontrons tout d'abord une limite inferieure stricte qui implique que contrairement au transfert inconscient, il n'existe aucun protocole de taux constant pour les mises en gage de bit. Nous demontrons ensuite que, en limitant la facon dont les engagements peuvent etre ouverts, nous pouvons faire mieux et meme un taux constant dans certains cas. Ceci est fait en exploitant la notion de cover-free families . Dans le second article, nous demontrons que pour certains problemes, il existe un echange entre robustesse, la validite et le prive. Il s'effectue en utilisant le partage de secret veriable, une preuve a divulgation nulle, le concept de fantomes et une technique que nous appelons les balles et les bacs. Dans notre troisieme contribution, nous demontrons qu'un grand nombre de protocoles dans la litterature basee sur des hypotheses de calcul peuvent etre instancies a partir d'une primitive appelee Transfert Inconscient Veriable, via le concept de Transfert Inconscient Generalise. Le protocole utilise le partage de secret comme outils de base. Dans la derniere publication, nous counstruisons un protocole efficace avec un nombre constant de rondes pour le calcul a deux parties. L'efficacite du protocole derive du fait qu'on remplace le coeur d'un protocole standard par une primitive qui fonctionne plus ou moins bien mais qui est tres peu couteux. On protege le protocole contre les defauts en utilisant le concept de privacy amplication .

Influence of farmers educational level on comprehending, acting-upon and sharing of agro advisories

Although short messaging service (SMS) through mobile phones has quickly gained popularity among most other sectors in India, its potential is not fully realised in the agriculture sector as a cost effective service to reach farmers and elicit desirable action. Despite the cost effectiveness, mobile messaging has remained a challenge in the farming sector in terms of its end use and action as far as extension systems are concerned. While there could be many influencing factors affecting the utility of mobile messages, this study assumed that educational level of farmers could be a major factor. A telephone survey was conducted to ascertain the influence of farmers’ education on the level of utilisation of mobile-based advisories. Farmers with higher education level showed better comprehension of advisories, actedupon the advisories more promptly and shared the information with fellow farmers more often than those with lower education level. There was a significant association between comprehending, sharing and acting upon advisories. This has implications to achieve enhanced extension reach with higher efficiency in terms of cost and time.

Library Privacy Policies in 2015: Strategies for Renewed Relevance

In recent decades, library associations have advocated for the adoption of privacy and confidentiality policies as practical support to the Library Code of Ethics with a threefold purpose to (1) define and uphold privacy practices within the library, (2) convey privacy practices to patrons and, (3) protect against potential liability and public relations problems. The adoption of such policies has been instrumental in providing libraries with effective responses to surveillance initiatives such as warrantless requests and the USA PATRIOT ACT. Nevertheless, as reflected in recent news stories, the rapid emergence of data brokerage relationships and technologies and the increasing need for libraries to utilize third party vendor services have increased opportunities for data surveillers to access patrons’ personal information and reading habits, which are funneled and made available through multiple online library service platforms. Additionally, the advice that libraries should “contract for the same level of privacy reflected in their privacy policies” is no longer realistic given that the existence of multiple vendor contracts negotiated at arms length is likely to produce varying privacy terms and even varying definitions of what constitutes personal information (PII). These conditions sharply threaten the effectiveness and relevance of library privacy policies and privacy initiatives in that such policies increasingly offer false comfort by failing to reflect privacy weaknesses in the data sharing landscape and vendor contracts when library-vendor contracts fail to keep up with vendor data sharing capabilities. While some argue that library privacy ethics are antiquated and rendered obscure in the current online sharing economy PEW studies point to pronounced public discomfort with increasing privacy erosion. At the same time, new directions in FTC enforcement raise the possibility that public institutions’ privacy policies may serve as swords to unfair or deceptive commercial trade practices – offering the potential of renewed relevance for library privacy and confidentiality policies. This dual coin of public concern and the potential for enhanced FTC enforcement suggests that when crafting privacy polices libraries must now walk the knife’s edge by offering patrons both realistic notice about the limitations of protections the library can ensure while at the same time publicly holding vendors accountable to library privacy ethics and expectations. Potential solutions for how to walk this edge are developed and offered as a subject for further discussion to assist the modification of model policies for both public and academic libraries alike.

Global Standards: Recent Developments betweend the Poles of Privacy and Cloud Computing

The development of the Internet has made it possible to transfer data ‘around the globe at the click of a mouse’. Especially fresh business models such as cloud computing, the newest driver to illustrate the speed and breadth of the online environment, allow this data to be processed across national borders on a routine basis. A number of factors cause the Internet to blur the lines between public and private space: Firstly, globalization and the outsourcing of economic actors entrain an ever-growing exchange of personal data. Secondly, the security pressure in the name of the legitimate fight against terrorism opens the access to a significant amount of data for an increasing number of public authorities.And finally,the tools of the digital society accompany everyone at each stage of life by leaving permanent individual and borderless traces in both space and time. Therefore, calls from both the public and private sectors for an international legal framework for privacy and data protection have become louder. Companies such as Google and Facebook have also come under continuous pressure from governments and citizens to reform the use of data. Thus, Google was not alone in calling for the creation of ‘global privacystandards’. Efforts are underway to review established privacy foundation documents. There are similar efforts to look at standards in global approaches to privacy and data protection. The last remarkable steps were the Montreux Declaration, in which the privacycommissioners appealed to the United Nations ‘to prepare a binding legal instrument which clearly sets out in detail the rights to data protection and privacy as enforceable human rights’. This appeal was repeated in 2008 at the 30thinternational conference held in Strasbourg, at the 31stconference 2009 in Madrid and in 2010 at the 32ndconference in Jerusalem. In a globalized world, free data flow has become an everyday need. Thus, the aim of global harmonization should be that it doesn’t make any difference for data users or data subjects whether data processing takes place in one or in several countries. Concern has been expressed that data users might seek to avoid privacy controls by moving their operations to countries which have lower standards in their privacy laws or no such laws at all. To control that risk, some countries have implemented special controls into their domestic law. Again, such controls may interfere with the need for free international data flow. A formula has to be found to make sure that privacy at the international level does not prejudice this principle.

Online privacy concerns and legal assurance: a user perspective

Since the emergence of the Internet and Social Media, privacy concerns and need for regulation in this area have been a frequent subject on the agenda of numerous stakeholders and policy-makers worldwide. Contributing to this debate, this paper builds on the responses of 553 Internet users to uncover users’ current privacy concerns and their attitudes towards legal assurances in this context. Our findings suggest that users have a complex attitude towards these issues. While they express strong concerns about privacy when asked directly, they often have difficulties formulating the exact nature of these concerns. In the Facebook context, Facebook itself is often mentioned as the primary source of threat, closely followed by marketing organizations. Users feel ill-protected by existing legal framework, especially when using Social Networking Sites. Reasons include common beliefs that the law is unable to address complexities of the Internet; local character of laws; possibilities to disregard the law, particularly since enforcement is difficult. Overall, positive changes in legal framework are desirable, with many respondents willing to pay more in taxes to ensure progress in this area.

Vertical integration and information sharing — an empirical investigation in the German apparel industry

Despite the astounding success of the fast fashion retailers, the management practices leading to these results have not been subject to extensive research so far. Given this background, we analyze the impact of information sharing and vertical integration on the performance of 51 German apparel companies. We find that the positive impact of vertical integration is mediated by information sharing, i.e. that the ability to improve the information flow is a key success factor of vertically integrated apparel supply chains. Thus, the success of an expansion strategy based on vertical integration critically depends on effective ways to share logistical information.

Risk sharing with Multilateral Financial Institutions in infrastructure and energy project financing : effect on capital relief for commercial banks

(Matsukawa and Habeck, 2007) analyse the main instruments for risk mitigation in infrastructure financing with Multilateral Financial Institutions (MFIs). Their review coincided with the global financial crisis of 2007-08, and is highly relevant in current times considering the sovereign debt crisis, the lack of available capital and the increases in bank regulation in Western economies. The current macroeconomic environment has seen a slowdown in the level of finance for infrastructure projects, as they pose a higher credit risk given their requirements for long term investments. The rationale for this work is to look for innovative solutions that are focused on the credit risk mitigation of infrastructure and energy projects whilst optimizing the economic capital allocation for commercial banks. This objective is achieved through risk-sharing with MFIs and looking for capital relief in project finance transactions. This research finds out the answer to the main question: "What is the impact of risk-sharing with MFIs on project finance transactions to increase their efficiency and viability?", and is developed from the perspective of a commercial bank assessing the economic capital used and analysing the relevant variables for it: Probability of Default, Loss Given Default and Recovery Rates, (Altman, 2010). An overview of project finance for the infrastructure and energy sectors in terms of the volume of transactions worldwide is outlined, along with a summary of risk-sharing financing with MFIs. A review of the current regulatory framework beneath risk-sharing in structured finance with MFIs is also analysed. From here, the impact of risk-sharing and the diversification effect in infrastructure and energy projects is assessed, from the perspective of economic capital allocation for a commercial bank. CreditMetrics (J. P. Morgan, 1997) is applied over an existing well diversified portfolio of project finance infrastructure and energy investments, working with the main risk capital measures: economic capital, RAROC, and EVA. The conclusions of this research show that economic capital allocation on a portfolio of project finance along with risk-sharing with MFIs have a huge impact on capital relief whilst increasing performance profitability for commercial banks. There is an outstanding diversification effect due to the portfolio, which is combined with risk mitigation and an improvement in recovery rates through Partial Credit Guarantees issued by MFIs. A stress test scenario analysis is applied to the current assumptions and credit risk model, considering a downgrade in the rating for the commercial bank (lender) and an increase of default in emerging countries, presenting a direct impact on economic capital, through an increase in expected loss and a decrease in performance profitability. Getting capital relief through risk-sharing makes it more viable for commercial banks to finance infrastructure and energy projects, with the beneficial effect of a direct impact of these investments on GDP growth and employment. The main contribution of this work is to promote a strategic economic capital allocation in infrastructure and energy financing through innovative risk-sharing with MFIs and economic pricing to create economic value added for banks, and to allow the financing of more infrastructure and energy projects. This work suggests several topics for further research in relation to issues analysed. (Matsukawa and Habeck, 2007) analizan los principales instrumentos de mitigación de riesgos en las Instituciones Financieras Multilaterales (IFMs) para la financiación de infraestructuras. Su presentación coincidió con el inicio de la crisis financiera en Agosto de 2007, y sus consecuencias persisten en la actualidad, destacando la deuda soberana en economías desarrolladas y los problemas capitalización de los bancos. Este entorno macroeconómico ha ralentizado la financiación de proyectos de infraestructuras. El actual trabajo de investigación tiene su motivación en la búsqueda de soluciones para la financiación de proyectos de infraestructuras y de energía, mitigando los riesgos inherentes, con el objeto de reducir el consumo de capital económico en los bancos financiadores. Este objetivo se alcanza compartiendo el riesgo de la financiación con IFMs, a través de estructuras de risk-sharing. La investigación responde la pregunta: "Cuál es el impacto de risk-sharing con IFMs, en la financiación de proyectos para aumentar su eficiencia y viabilidad?". El trabajo se desarrolla desde el enfoque de un banco comercial, estimando el consumo de capital económico en la financiación de proyectos y analizando las principales variables del riesgo de crédito, Probability of Default, Loss Given Default and Recovery Rates, (Altman, 2010). La investigación presenta las cifras globales de Project Finance en los sectores de infraestructuras y de energía, y analiza el marco regulatorio internacional en relación al consumo de capital económico en la financiación de proyectos en los que participan IFMs. A continuación, el trabajo modeliza una cartera real, bien diversificada, de Project Finance de infraestructuras y de energía, aplicando la metodología CreditMet- rics (J. P. Morgan, 1997). Su objeto es estimar el consumo de capital económico y la rentabilidad de la cartera de proyectos a través del RAROC y EVA. La modelización permite estimar el efecto diversificación y la liberación de capital económico consecuencia del risk-sharing. Los resultados muestran el enorme impacto del efecto diversificación de la cartera, así como de las garantías parciales de las IFMs que mitigan riesgos, mejoran el recovery rate de los proyectos y reducen el consumo de capital económico para el banco comercial, mientras aumentan la rentabilidad, RAROC, y crean valor económico, EVA. En escenarios económicos de inestabilidad, empeoramiento del rating de los bancos, aumentos de default en los proyectos y de correlación en las carteras, hay un impacto directo en el capital económico y en la pérdida de rentabilidad. La liberación de capital económico, como se plantea en la presente investigación, permitirá financiar más proyectos de infraestructuras y de energía, lo que repercutirá en un mayor crecimiento económico y creación de empleo. La principal contribución de este trabajo es promover la gestión activa del capital económico en la financiación de infraestructuras y de proyectos energéticos, a través de estructuras innovadoras de risk-sharing con IFMs y de creación de valor económico en los bancos comerciales, lo que mejoraría su eficiencia y capitalización. La aportación metodológica del trabajo se convierte por su originalidad en una contribución, que sugiere y facilita nuevas líneas de investigación académica en las principales variables del riesgo de crédito que afectan al capital económico en la financiación de proyectos.