La situación de la banca online en España

[email protected] [email protected] trabajo tiene como objetivo el estudio del entorno competitivo de la banca online en España, y su evolución durante el período 2001-2005. Del estudio se desprende que Internet ha acelerado la desintermediación del sector bancario y ha incrementado su intermediación por servicios, si bien, las entidades tradicionales seguirán dominando el sector. Además, el perfil sociodemográfico del usuario de banca electrónica difiere significativamente del perfil medio de la población. También, el hecho de que los bancos online en España sean filiales de bancos tradicionales cuestiona que Internet haya reducido las barreras de entrada al sector. Por último, si a esto le unimos la paulatina ampliación de las redes de oficinas de banca online, es previsible una convergencia con la banca tradicional

Ethical versus conventional banking: a case study

The 2008 financial crisis has changed the structure of banking, generating public distrust in the conventional financial system. An alternative has emerged as a result of this lack of confidence. This alternative is known as ethical banking. A growing number of investors, asset managers, and financial intermediaries have incorporated sustainability considerations into their business practices. This paper discusses the origins of ethical banking and describes its primary characteristics. The goal is to determine whether ethical banking can be as profitable as conventional banking despite only investing in projects based on social values. A comparative analysis is performed to identify differences between an ethical bank (Triodos Bank) and a conventional bank (Banco Santander). The analysis was conducted to study the financial activity of both banks over a four-year period (2012–2015). The balance sheets, profit and loss accounts, liquidity ratios, indebtedness, and returns provided by both banks were analyzed. The results indicate that ethical banking is less profitable than conventional banking. Nevertheless, customers are attracted to the social investments and financial transparency that characterize ethical banking. Over the study period, Triodos Bank experienced a greater increase in the number of employees and the volume of loans and deposits than did Banco Santander. Triodos Bank invests in social and environmental projects. This investment approach makes it less profitable than Banco Santander

"YAYA, un viaje por la cocina de mi abuela". Realización de un libro ilustrado

[ES] “Este no es un simple libro de cocina, es un viaje ilustrado que te llevará al corazón de las mejores recetas de mi abuela” Así se presenta mi propuesta de libro ilustrado, esta idea se mueve por una motivación personal que está íntimamente relacionada con el libro de recetas que mi abuela me escribió. Este libro, se caracteriza por ser una propuesta distinta a un libro de recetas convencional, se plantea como un recetario ilustrado dónde los dibujos son el principal atractivo y dónde se propone que la función de éste no sea únicamente instructiva y didáctica, sino que funcione al mismo tiempo como un libro visual y consiga suscitar en el receptor un especial interés por el contenido de las ilustraciones. Podremos encontrar 24 recetas ilustradas, propias de los lugares dónde mi abuela vivió, la Marina Alta y l’Horta Nord, seleccionadas mediante un estudio previo de la gastronomía mediterránea. Este recetario también funciona como una propuesta de autopromoción, con el que se pretende atraer a distintos públicos tanto amantes de la ilustración, como de la cocina e introducirse en el sector editorial.[EN] “This is not just a simple cookbook, this is an illustrated journey that will take you to the heart of the best recipes of my grandmother” That is how my illustrated book is presented, this idea is moved by a personal motivation that is closely related to the recipe book that my grandmother wrote me. This book is characterized by being a different proposal of a conventional cookbook, is presented as an illustrated cookbook where drawings are the main attraction and where its propose and function is not only instructive and educational, but works at the same time as a visual book and have the especial interest of get awaken in the receiver a special interest in the content of artwork. We will find 24 illustrated recipes, typical of the places where my grandmother lived, the “Marina Alta” and “l’Horta Nord”, selected by a previous study of Mediterranean gastronomy. This cookbook also works as a proposal for self-promotion, with which it aims to attract different audiences, lovers of illustration and cuisine and get into the publishing sector.Diranzo Sánchez, JA. (2016). "YAYA, un viaje por la cocina de mi abuela". Realización de un libro ilustrado. http://hdl.handle.net/10251/76365

The impact of scale effects on the prevailing internet-based banking model in the US

Internet-based banks use a technology-intensive production process that may benefit from scale effects as they grow larger. This paper analyzes whether the predominant Internet-primary bank in the USA generates technology-based economies of scale. There is evidence of both favorable and adverse technology-based scale effects. As the leading Internet-primary bank gets larger, the financial performance gap with traditional banks shrinks while some of its critical competitive advantages wear down. The results suggest that unless the prevailing Internet-primary bank preserves the distinctive advantages of the Internet-based business model as it improves financial performance, it might end up converging with its branching competitors

Market Efficiency and price discovery relationships between spot, futures and forward prices: The case of the Iberian Electricity Market (MIBEL)

This paper analyses the relationships between prices from three different markets within the Spanish zone of the Iberian Electricity Market (MIBEL), namely futures, spot and over the counter (OTC) forward markets. The study focuses on three items: (i) contrasting the Weak-form efficiency hypothesis of the markets involved in the study, (ii) analysing the Semi-strong-form efficient market hypothesis (EMH) of the MIBEL futures market and (iii) examining the price discovery relationships between the series of prices of the considered markets. The empirical results confirm that 1-month-, 1-quarter-, 1-year-ahead futures and spot markets satisfy, generally, the Weak-form efficiency hypothesis and that MIBEL futures market does not contradict the EMH in its Semi-strong-form. In addition, price discovery relationships have also been found. In particular, there is unidirectional causality from the futures market to the forward market and from the futures market to the spot market for 1-month- and 1-quarter-ahead maturities. This result may be indicative of the agents to use the price of the futures market as a valuable reference

Estudio de la rentabilidad de la banca online en España

En este trabajo se estudian las características y la viabilidad de la banca online que opera en España. El análisis económico-financiero de las entidades online y de entidades tradicionales comparables indica la existencia de dos modelos de negocio diferenciados dentro del segmento online. Además, dicho análisis muestra que a pesar de registrar tasas de crecimiento superiores, la banca online es menos rentable que la tradicional. Aunque la entidad online de mayor tamaño se encuentra en una mejor posición competitiva que la del resto de las entidades del segmento online, la baja rentabilidad de las entidades online no garantiza la supervivencia de los modelos de negocio de banca online en su forma actual.This paper studies the characteristics and viability of the Internet-primary banks in Spain. Financial statement analysis of Internet-primary and branching banks finds evidence of two distinct business models within the Internet-primary segment. Despite higher growth rates, Internet-primary banks are shown to underperform when compared to branching bank benchmarks. Although the largest Internet-primary bank in Spain is in a better competitive position than the rest of its class, the Internet-primary banks’ low profitability is no guarantee that they will exist as such in the future

Ethical Banking and Conventional Banking. Triodos Bank vs Banco Santander

La crisis financiera de 2008 ha provocado cambios en la estructura bancaria tradicional, generando una desconfianza por parte de los ciudadanos con el sistema financiero tradicional, como consecuencia de ello ha surgido otro tipo de banca, la Banca Ética. El objetivo de este trabajo es estudiar si la Banca Ética puede llegar a ser igual de rentable que la Banca Tradicional, invirtiendo principalmente en valores sociales. Para ello, se realiza un análisis comparativo entre la Banca Ética (Triodos Bank) y la Banca Tradicional (Banco Santander). Para alcanzar el objetivo propuesto se realiza un análisis económico centrado en la actividad financiera de ambas tipologías de bancos durante el período 2011-2017 y se analizan el Balance de Situación, la Cuenta de Pérdidas y Ganancias y las Ratios de Liquidez, Endeudamiento y Rentabilidad de ambos bancos. Se comprueba que la Banca Ética no llega a ser tan rentable como la Banca tradicional, pero ha conseguido atraer a los clientes con sus inversiones sociales y la transparencia total de sus acciones financieras.The financial crisis of 2008 has caused changes in the traditional banking structure, generating a distrust on the part of citizens with the traditional financial system, as a result of this has emerged another type of banking, Ethical Banking. The objective of this paper is to study if the Ethical Banking can be as profitable as the Conventional Banking, investing mainly in social values. For this purpose, a comparative analysis is carried out between the Ethical Banking (Triodos Bank) and the Conventional Bank (Banco Santander). To achieve the proposed objective, an economic analysis is carried out focused on the financial activity of both types of banks during 2011-2017 and the Balance Sheet, the Profit and Loss Account and the Liquidity, Indebtedness and Profitability Ratios are analyzed. Results shows that the Ethical Banking does not become as profitable as Conventional Banking, but it has managed to attract customers with its social investments and the total transparency of its financial actions.Escuela de Estudios CooperativosFac. de Ciencias Económicas y EmpresarialesTRUEpu

Tratamiento del choque femoroacetabular mediante miniabordaje anterior. Resultados a corto plazo

El tratamiento quirúrgico del choque femoroacetabular (CFA) es un práctica clínica cada vez más frecuente en nuestra especialidad. Objetivo. Analizar los resultados clínicos y radiológicos de una primera serie de pacientes diagnosticados de CFA intervenidos mediante miniabordaje anterior. Material y métodos. Estudio prospectivo de 30 pacientes con una edad media de 36,2 años y un seguimiento mínimo de 12 meses. La valoración clínica se ha realizado mediante las escalas SF-36, WOMAC y NAHS. Evaluamos la corrección radiológica de la deformidad y la progresión o no del grado de coxartrosis. Resultados. Se obtuvo una corrección adecuada de la deformidad en el 93% de los casos, 27 de los 30 pacientes presentaron una mejoría clínica significativa en los test realizados. La complicación más frecuente fue la meralgia parestésica del femorocutáneo (5 casos), 1 paciente precisó de sustitución protésica por evolución del grado de coxartrosis. Conclusiones. El tratamiento del CFA mediante mini abordaje anterior es un procedimiento seguro y reproducible. Permite la corrección de las anormalidades anatómicas y la obtención de resultados clínicos satisfactorios en una cohorte de pacientes jóvenes.Surgical treatment of femoroacetabular impingement (FAI) is an increasingly common clinical practice in our speciality. Aim. To analyze the clinical and radiological results of a first series of patients diagnosed with a FAI treated with anterior mini-open approach. Material and methods. Prospective study of 30 patients with a mean age of 36.2 years with a minimum follow-up of 12 months was made. Clinical assessment was performed using the SF-36, WOMAC and NAHS scales. We evaluate the correction of the radiologic deformity and progression of the osteoarthritis grade. Results. An adequate correction of the deformity in 93% of cases was obtained, 27 of the 30 patients showed significant clinical improvement in all tests performed. The most common complication was meralgia paresthesia of the femoro-cutaneous nerve (5 cases), 1 patient required prosthetic replacement for progression of the osteoarthritis grade. Conclusions. FAI treatment by mini-open approach is a safe and reproducible procedure. This technique allows correction of anatomical abnormalities and obtains satisfactory clinical outcomes in a cohort of young patients