Valoración de Intrumentos Financieros : Valoración de los Intrumentos de renta variable (Acciones Comunes) de la empresa Amarales en el año 2016

En este trabajo de seminario de Graduación será abordado el tema Valoración de instrumentos financieros, enfatizando en la valoración de los instrumentos de renta variable (acciones comunes) de la empresa Amarales en el año 2016 mediante el método de valuación de crecimiento cero, sin embargo en principio se aclarará en qué consiste el mercado financiero, posteriormente se desarrollará un caso práctico en donde se utilizará el método antes mencionado, este mismo asume que los rendimientos que se espera recibir por las acciones de una empresa permanecerán sin crecimiento en el futuro. El propósito es dar a conocer al mercado financiero como una buena opción para aquellos que desean invertir sus ahorros y hacerlos más productivos, así como también para quienes tengan necesidades de financiamiento ya que a través de este mercado también pueden obtenerlo. Este trabajo se elaboró desarrollando cada uno de los objetivos planteados, para ello se consultaron varios libros de diferentes autores que dan sus propias aportaciones y definiciones acerca de la temática del trabajo, respecto al caso práctico se realizó un planteamiento en donde se calculará el precio de las acciones comunes de la empresa Amarales, S.A y los rendimientos que se esperan recibir durante un período de 7 años por una cantidad determinada de acciones. Al final los resultados fueron satisfactorios ya que se logró hacer el cálculo del valor de las acciones y también se realizó el cálculo de los rendimientos totales que se espera recibir por las acciones de la empresa antes mencionada. Al final se logra presentar al mercado financiero como alternativa eficaz para canalizar el ahorro hacia la inversión y que además funciona como un intermediario que traslada los recursos de sectores menos productivos hacia otros sectores que pueden ser mucho más productivos, contribuyendo a la dinamización de la economía y por ende al crecimiento económico del país

A Convolutional Network for Sleep Stages Classification

[Abstract]: Sleep stages classification is a crucial task in the context of sleep studies. It involves the simultaneous analysis of multiple signals recorded during sleep. However, it is complex and tedious, and even the trained expert can spend several hours scoring a single night recording. Multiple automatic methods have tried to solve these problems in the past, most of them by classifying a feature vector that is engineered for a specific dataset. In this work, we avoid this bias using a deep learning model that learns relevant features without human intervention. Particularly, we propose an ensemble of 5 convolutional networks that achieves a kappa index of 0.83 when classifying a dataset of 500 sleep recordings

Caribbean Corals in Crisis: Record Thermal Stress, Bleaching, and Mortality in 2005

BACKGROUND The rising temperature of the world's oceans has become a major threat to coral reefs globally as the severity and frequency of mass coral bleaching and mortality events increase. In 2005, high ocean temperatures in the tropical Atlantic and Caribbean resulted in the most severe bleaching event ever recorded in the basin. METHODOLOGY/PRINCIPAL FINDINGS Satellite-based tools provided warnings for coral reef managers and scientists, guiding both the timing and location of researchers' field observations as anomalously warm conditions developed and spread across the greater Caribbean region from June to October 2005. Field surveys of bleaching and mortality exceeded prior efforts in detail and extent, and provided a new standard for documenting the effects of bleaching and for testing nowcast and forecast products. Collaborators from 22 countries undertook the most comprehensive documentation of basin-scale bleaching to date and found that over 80% of corals bleached and over 40% died at many sites. The most severe bleaching coincided with waters nearest a western Atlantic warm pool that was centered off the northern end of the Lesser Antilles. CONCLUSIONS/SIGNIFICANCE Thermal stress during the 2005 event exceeded any observed from the Caribbean in the prior 20 years, and regionally-averaged temperatures were the warmest in over 150 years. Comparison of satellite data against field surveys demonstrated a significant predictive relationship between accumulated heat stress (measured using NOAA Coral Reef Watch's Degree Heating Weeks) and bleaching intensity. This severe, widespread bleaching and mortality will undoubtedly have long-term consequences for reef ecosystems and suggests a troubled future for tropical marine ecosystems under a warming climate.This work was partially supported by salaries from the NOAA Coral Reef Conservation Program to the NOAA Coral Reef Conservation Program authors. NOAA provided funding to Caribbean ReefCheck investigators to undertake surveys of bleaching and mortality. Otherwise, no funding from outside authors' institutions was necessary for the undertaking of this study. The funders had no role in study design, data collection and analysis, decision to publish, or preparation of the manuscript

An environmental dependence of the physical and structural properties in the Hydra cluster galaxies

The nearby Hydra cluster (∼50 Mpc) is an ideal laboratory to understand, in detail, the influence of the environment on the morphology and quenching of galaxies in dense environments. We study the Hydra cluster galaxies in the inner regions (1R200) of the cluster using data from the Southern Photometric Local Universe Survey, which uses 12 narrow and broad-band filters in the visible region of the spectrum. We analyse structural (Sérsic index, effective radius) and physical (colours, stellar masses, and star formation rates) properties. Based on this analysis, we find that ∼88 per cent of the Hydra cluster galaxies are quenched. Using the Dressler–Schectman test approach, we also find that the cluster shows possible substructures. Our analysis of the phase-space diagram together with density-based spatial clustering algorithm indicates that Hydra shows an additional substructure that appears to be in front of the cluster centre, which is still falling into it. Our results, thus, suggest that the Hydra cluster might not be relaxed. We analyse the median Sérsic index as a function of wavelength and find that for red [(u − r) ≥2.3] and early-type galaxies it displays a slight increase towards redder filters (13 and 18 per cent, for red and early type, respectively), whereas for blue + green [(u − r)<2.3] galaxies it remains constant. Late-type galaxies show a small decrease of the median Sérsic index towards redder filters. Also, the Sérsic index of galaxies, and thus their structural properties, do not significantly vary as a function of clustercentric distance and density within the cluster; and this is the case regardless of the filter.CL-D acknowledges scholarship from CONICYT-PFCHA/Doctorado Nacional/2019-21191938. CL-D and AM acknowledge support from FONDECYT Regular grant 1181797. CL-D acknowledges also the support given by the ‘Vicerrectoría de Investigacion de la Universidad de La Serena’ program ‘Apoyo al fortalecimiento de grupos de investigacion’. CL-D and AC acknowledges to Steven Bamford and Boris Haeussler with the MegaMorph project. CL-D and DP acknowledge support from fellowship ‘Becas Doctorales Institucionales ULS’, granted by the ‘Vicerrectoría de Investigacion y Postgrado de la Universidad de La Serena’. AM and DP acknowledge funding from the Max Planck Society through a ‘Partner Group’ grant. DP acknowledges support from FONDECYT Regular grant 1181264. This work has used the computing facilities of the Laboratory of Astroinformatics (Instituto de Astronomia, Geofísica e Ciencias Atmosféricas, Departamento de Astronomia/USP, NAT/Unicsul), whose purchase was made possible by FAPESP (grant 2009/54006-4) and the INCT-A. YJ acknowledges financial support from CONICYT PAI (Concurso Nacional de Inserción en la Academia 2017) No. 79170132 and FONDECYT Iniciación 2018 No. 11180558. LS thanks the FAPESP scholarship grant 2016/21664-2. AAC acknowledges support from FAPERJ (grant E26/203.186/2016), CNPq (grants 304971/2016-2 and 401669/2016-5), and the Universidad de Alicante (contract UATALENTO18-02). AMB thanks the FAPESP scholarship grant 2014/11806-9. RA acknowedges support from ANID FONDECYT Regular grant 1202007

Cut-offs and response criteria for the Hospital Universitario la Princesa Index (HUPI) and their comparison to widely-used indices of disease activity in rheumatoid arthritis

Objective To estimate cut-off points and to establish response criteria for the Hospital Universitario La Princesa Index (HUPI) in patients with chronic polyarthritis. Methods Two cohorts, one of early arthritis (Princesa Early Arthritis Register Longitudinal PEARL] study) and other of long-term rheumatoid arthritis (Estudio de la Morbilidad y Expresión Clínica de la Artritis Reumatoide EMECAR]) including altogether 1200 patients were used to determine cut-off values for remission, and for low, moderate and high activity through receiver operating curve (ROC) analysis. The areas under ROC (AUC) were compared to those of validated indexes (SDAI, CDAI, DAS28). ROC analysis was also applied to establish minimal and relevant clinical improvement for HUPI. Results The best cut-off points for HUPI are 2, 5 and 9, classifying RA activity as remission if =2, low disease activity if >2 and =5), moderate if >5 and <9 and high if =9. HUPI''s AUC to discriminate between low-moderate activity was 0.909 and between moderate-high activity 0.887. DAS28''s AUCs were 0.887 and 0.846, respectively; both indices had higher accuracy than SDAI (AUCs: 0.832 and 0.756) and CDAI (AUCs: 0.789 and 0.728). HUPI discriminates remission better than DAS28-ESR in early arthritis, but similarly to SDAI. The HUPI cut-off for minimal clinical improvement was established at 2 and for relevant clinical improvement at 4. Response criteria were established based on these cut-off values. Conclusions The cut-offs proposed for HUPI perform adequately in patients with either early or long term arthritis

Childhood acute leukemias are frequent in Mexico City: descriptive epidemiology

<p>Abstract</p> <p>Background</p> <p>Worldwide, acute leukemia is the most common type of childhood cancer. It is particularly common in the Hispanic populations residing in the United States, Costa Rica, and Mexico City. The objective of this study was to determine the incidence of acute leukemia in children who were diagnosed and treated in public hospitals in Mexico City.</p> <p>Methods</p> <p>Included in this study were those children, under 15 years of age and residents of Mexico City, who were diagnosed in 2006 and 2007 with leukemia, as determined by using the International Classification of Childhood Cancer. The average annual incidence rates (AAIR), and the standardized average annual incidence rates (SAAIR) per million children were calculated. We calculated crude, age- and sex-specific incidence rates and adjusted for age by the direct method with the world population as standard. We determined if there were a correlation between the incidence of acute leukemias in the various boroughs of Mexico City and either the number of agricultural hectares, the average number of persons per household, or the municipal human development index for Mexico (used as a reference of socio-economic level).</p> <p>Results</p> <p>Although a total of 610 new cases of leukemia were registered during 2006-2007, only 228 fit the criteria for inclusion in this study. The overall SAAIR was 57.6 per million children (95% CI, 46.9-68.3); acute lymphoblastic leukemia (ALL) was the most frequent type of leukemia, constituting 85.1% of the cases (SAAIR: 49.5 per million), followed by acute myeloblastic leukemia at 12.3% (SAAIR: 6.9 per million), and chronic myeloid leukemia at 1.7% (SAAIR: 0.9 per million). The 1-4 years age group had the highest SAAIR for ALL (77.7 per million). For cases of ALL, 73.2% had precursor B-cell immunophenotype (SAAIR: 35.8 per million) and 12.4% had T-cell immunophenotype (SAAIR 6.3 per million). The peak ages for ALL were 2-6 years and 8-10 years. More than half the children (58.8%) were classified as high risk. There was a positive correlation between the average number of persons per household and the incidence of the pre-B immunophenotype (Pearson's r, 0.789; P = 0.02).</p> <p>Conclusions</p> <p>The frequency of ALL in Mexico City is among the highest in the world, similar to those found for Hispanics in the United States and in Costa Rica.</p

Staging Parkinson’s Disease According to the MNCD (Motor/Non-motor/Cognition/Dependency) Classification Correlates with Disease Severity and Quality of Life

Background: Recently, a novel simple classification called MNCD, based on 4 axes (Motor; Non-motor; Cognition; Dependency) and 5 stages, has been proposed to classify Parkinson's disease (PD). Objective: Our aim was to apply the MNCD classification in a cohort of PD patients for the first time and also to analyze the correlation with quality of life (QoL) and disease severity. Methods: Data from the baseline visit of PD patients recruited from 35 centers in Spain from the COPPADIS cohort from January 2016 to November 2017 were used to apply the MNCD classification. Three instruments were used to assess QoL: 1) the 39-item Parkinson's disease Questionnaire [PDQ-39]); PQ-10; the EUROHIS-QOL 8-item index (EUROHIS-QOL8). Results: Four hundred and thirty-nine PD patients (62.05 +/- 7.84 years old; 59% males) were included. MNCD stage was: stage 1, 8.4% (N = 37); stage 2, 62% (N = 272); stage 3, 28.2% (N = 124); stage 4-5, 1.4% (N = 6). A more advanced MNCD stage was associated with a higher score on the PDQ39SI (p < 0.0001) and a lower score on the PQ-10 (p < 0.0001) and EUROHIS-QOL8 (p < 0.0001). In many other aspects of the disease, such as disease duration, levodopa equivalent daily dose, motor symptoms, non-motor symptoms, and autonomy for activities of daily living, an association between the stage and severity was observed, with data indicating a progressive worsening related to disease progression throughout the proposed stages. Conclusion: Staging PD according to the MNCD classification correlated with QoL and disease severity. The MNCD could be a proper tool to monitor the progression of PD

Dependence of atmospheric muon flux on seawater depth measured with the first KM3NeT detection units: The KM3NeT Collaboration

KM3NeT is a research infrastructure located in the Mediterranean Sea, that will consist of two deep-sea Cherenkov neutrino detectors. With one detector (ARCA), the KM3NeT Collaboration aims at identifying and studying TeV–PeV astrophysical neutrino sources. With the other detector (ORCA), the neutrino mass ordering will be determined by studying GeV-scale atmospheric neutrino oscillations. The first KM3NeT detection units were deployed at the Italian and French sites between 2015 and 2017. In this paper, a description of the detector is presented, together with a summary of the procedures used to calibrate the detector in-situ. Finally, the measurement of the atmospheric muon flux between 2232–3386 m seawater depth is obtained