186 research outputs found

    Monitoring credit risk in the social economy sector by means of a binary goal programming model

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    The final publication is available at Springer via http://dx.doi.org/10.1007/s11628-012-0173-7Monitoring the credit risk of firms in the social economy sector presents a considerable challenge, since it is difficult to calculate ratings with traditional methods such as logit or discriminant analysis, due to the relatively small number of firms in the sector and the low default rate among cooperatives. This paper intro- duces a goal programming model to overcome such constraints and to successfully manage credit risk using economic and financial information, as well as expert advice. After introducing the model, its application to a set of Spanish cooperative societies is described.García García, F.; Guijarro Martínez, F.; Moya Clemente, I. (2013). Monitoring credit risk in the social economy sector by means of a binary goal programming model. Service Business. 7(3):483-495. doi:10.1007/s11628-012-0173-7S48349573Alfares H, Duffuaa S (2009) Assigning cardinal weights in multi-criteria decision making based on ordinal rankings. J Multicriteria Decis Anal 15:125–133Altman EI (1968) Financial ratios, discriminant analysis and the prediction of corporate bankruptcy. J Financ 23:589–609Altman EI, Hadelman RG, Narayanan P (1977) Zeta analysis: a new model to identify bankruptcy risk of corporations. J Bank Financ 1:29–54Andenmatten A (1995) Evaluation du risque de défaillance des emetteurs d’obligations: Une approche par l’aide multicritère á la décision. Presses Polytechniques et Univertitaires Romandes, LausanneBeaver WH (1966) Financial ratios as predictors of failure. J Account Res 4:71–111Boritz JE, Kennedey DB (1995) Effectiveness of neural network types for prediction of business failure. 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Comput Oper Res 38:409–419Luoma M, Laitinen EK (1991) Survival analysis as a tool for firm failure prediction. Omega-Int J Manage S 19:673–678March I, Yagüe RM (2009) Desempeño en empresas de economía social. Un modelo para su medición. CIRIEC 64:105–131Martin D (1977) Early warning of bank failure: a logit regression approach. J Bank Financ 1:249–276Mateos A, Marín M, Marí S, Seguí E (2011) Los modelos de predicción del fracaso empresarial y su aplicabilidad en cooperativas agrarias. CIRIEC 70:179–208McKee T (2000) Developing a bankruptcy prediction model via rough sets theory. Int J Intell Syst Account Finan Manage 9:159–173Messier WF, Hansen JV (1988) Inducing rules for expert system development: an example using default and bankruptcy data. Manage Sci 34:1403–1415Ohlson JA (1980) Financial ratios and the probabilistic prediction of bankruptcy. J Account Res 18:109–131Peel MJ (1987) Timeliness of private firm reports predicting corporate failure. 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    Search for the rare decays B0J/ψγB^{0}\to J/\psi \gamma and Bs0J/ψγB^{0}_{s} \to J/\psi \gamma

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    A search for the rare decay of a B0B^{0} or Bs0B^{0}_{s} meson into the final state J/ψγJ/\psi\gamma is performed, using data collected by the LHCb experiment in pppp collisions at s=7\sqrt{s}=7 and 88 TeV, corresponding to an integrated luminosity of 3 fb1^{-1}. The observed number of signal candidates is consistent with a background-only hypothesis. Branching fraction values larger than 1.7×1061.7\times 10^{-6} for the B0J/ψγB^{0}\to J/\psi\gamma decay mode are excluded at 90% confidence level. For the Bs0J/ψγB^{0}_{s}\to J/\psi\gamma decay mode, branching fraction values larger than 7.4×1067.4\times 10^{-6} are excluded at 90% confidence level, this is the first branching fraction limit for this decay.Comment: All figures and tables, along with any supplementary material and additional information, are available at https://lhcbproject.web.cern.ch/lhcbproject/Publications/LHCbProjectPublic/LHCb-PAPER-2015-044.htm

    Evidence for the strangeness-changing weak decay ΞbΛb0π\Xi_b^-\to\Lambda_b^0\pi^-

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    Using a pppp collision data sample corresponding to an integrated luminosity of 3.0~fb1^{-1}, collected by the LHCb detector, we present the first search for the strangeness-changing weak decay ΞbΛb0π\Xi_b^-\to\Lambda_b^0\pi^-. No bb hadron decay of this type has been seen before. A signal for this decay, corresponding to a significance of 3.2 standard deviations, is reported. The relative rate is measured to be fΞbfΛb0B(ΞbΛb0π)=(5.7±1.80.9+0.8)×104{{f_{\Xi_b^-}}\over{f_{\Lambda_b^0}}}{\cal{B}}(\Xi_b^-\to\Lambda_b^0\pi^-) = (5.7\pm1.8^{+0.8}_{-0.9})\times10^{-4}, where fΞbf_{\Xi_b^-} and fΛb0f_{\Lambda_b^0} are the bΞbb\to\Xi_b^- and bΛb0b\to\Lambda_b^0 fragmentation fractions, and B(ΞbΛb0π){\cal{B}}(\Xi_b^-\to\Lambda_b^0\pi^-) is the branching fraction. Assuming fΞb/fΛb0f_{\Xi_b^-}/f_{\Lambda_b^0} is bounded between 0.1 and 0.3, the branching fraction B(ΞbΛb0π){\cal{B}}(\Xi_b^-\to\Lambda_b^0\pi^-) would lie in the range from (0.57±0.21)%(0.57\pm0.21)\% to (0.19±0.07)%(0.19\pm0.07)\%.Comment: 7 pages, 2 figures, All figures and tables, along with any supplementary material and additional information, are available at https://lhcbproject.web.cern.ch/lhcbproject/Publications/LHCbProjectPublic/LHCb-PAPER-2015-047.htm

    Measurements of long-range near-side angular correlations in sNN=5\sqrt{s_{\text{NN}}}=5TeV proton-lead collisions in the forward region

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    Two-particle angular correlations are studied in proton-lead collisions at a nucleon-nucleon centre-of-mass energy of sNN=5\sqrt{s_{\text{NN}}}=5TeV, collected with the LHCb detector at the LHC. The analysis is based on data recorded in two beam configurations, in which either the direction of the proton or that of the lead ion is analysed. The correlations are measured in the laboratory system as a function of relative pseudorapidity, Δη\Delta\eta, and relative azimuthal angle, Δϕ\Delta\phi, for events in different classes of event activity and for different bins of particle transverse momentum. In high-activity events a long-range correlation on the near side, Δϕ0\Delta\phi \approx 0, is observed in the pseudorapidity range 2.0<η<4.92.0<\eta<4.9. This measurement of long-range correlations on the near side in proton-lead collisions extends previous observations into the forward region up to η=4.9\eta=4.9. The correlation increases with growing event activity and is found to be more pronounced in the direction of the lead beam. However, the correlation in the direction of the lead and proton beams are found to be compatible when comparing events with similar absolute activity in the direction analysed.Comment: All figures and tables, along with any supplementary material and additional information, are available at https://lhcbproject.web.cern.ch/lhcbproject/Publications/LHCbProjectPublic/LHCb-PAPER-2015-040.htm

    Predicting the onset and persistence of episodes of depression in primary health care. The predictD-Spain study: Methodology

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    Background: The effects of putative risk factors on the onset and/or persistence of depression remain unclear. We aim to develop comprehensive models to predict the onset and persistence of episodes of depression in primary care. Here we explain the general methodology of the predictD-Spain study and evaluate the reliability of the questionnaires used. Methods: This is a prospective cohort study. A systematic random sample of general practice attendees aged 18 to 75 has been recruited in seven Spanish provinces. Depression is being measured with the CIDI at baseline, and at 6, 12, 24 and 36 months. A set of individual, environmental, genetic, professional and organizational risk factors are to be assessed at each follow-up point. In a separate reliability study, a proportional random sample of 401 participants completed the test-retest (251 researcher-administered and 150 self-administered) between October 2005 and February 2006. We have also checked 118,398 items for data entry from a random sample of 480 patients stratified by province. Results: All items and questionnaires had good test-retest reliability for both methods of administration, except for the use of recreational drugs over the previous six months. Cronbach's alphas were good and their factorial analyses coherent for the three scales evaluated (social support from family and friends, dissatisfaction with paid work, and dissatisfaction with unpaid work). There were 191 (0.16%) data entry errors. Conclusion: The items and questionnaires were reliable and data quality control was excellent. When we eventually obtain our risk index for the onset and persistence of depression, we will be able to determine the individual risk of each patient evaluated in primary health care.The research in Spain was funded by grants from the Spanish Ministry of Health (grant FIS references: PI04/1980, PI0/41771, PI04/2450, and PI06/1442), Andalusian Council of Health (grant references: 05/403, 06/278 and 08/0194), and the Spanish Ministry of Education and Science (grant reference SAF 2006/07192). The Malaga sample, as part of the predictD-International study, was also funded by a grant from The European Commission (reference QL4-CT2002-00683)

    Measurement of CP violation parameters in B-0 -> DK*(0) decays

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    An analysis of B-0 --> DK*(0) decays is presented, where D represents an admixture of D-0 and (D) over bar (0) mesons reconstructed in four separate final states: K-pi(+), pi K--(+), K+K- and pi(+)pi(-). The data sample corresponds to 3.0 fb(-1) of proton-proton collision, collected by the LHCb experiment. Measurements of several observables are performed, including CP asymmetries. The most precise determination is presented of r(B)(DK*(0)), the magnitude of the ratio of the amplitudes of the decay B-0 --> DK+pi(-) with a b --> u or a b --> c transition, in a K pi mass region of +/- 50 MeV/c(2) around the K*(892) mass and for an absolute value of the cosine of the K*(0) helicity angle larger than 0.4

    Measurement of CP asymmetry in B-s(0) -> D-s(-/+) K-/+ decays

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    We report on measurements of the time-dependent CP violating observables in B-s(0) -> D-s(-/+) K--/+ decays using a dataset corresponding to 1.0 fb(-1) of pp collisions recorded with the LHCb detector. We find the CP violating observables C-f = 0.53 +/- 0.25 +/- 0.04, A(f)(Delta Gamma) = 0.37 +/- 0.42 +/- 0.20, A((f) over bar)(Delta Gamma) = 0.20 +/- 0.41 +/- 0.20, S-f = -1.09 +/- 0.33 +/- 0.08, S-(f) over bar = -0.36 +/- 0.34 +/- 0.08, where the uncertainties are statistical and systematic, respectively. Using these observables together with a recent measurement of the B-s(0) mixing phase -2 beta(s) leads to the first extraction of the CKM angle gamma from B-s(0) -> D-s(-/+) K--/+ decays, finding gamma = (115(-43)(+28))degrees modulo 180 degrees at 68% CL, where the error contains both statistical and systematic uncertainties

    First Observation of a Baryonic B-c(+) Decay

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    A baryonic decay of the B-c(+) meson, B-c(+) -> J/psi p (p) over bar pi(+) is observed for the first time, with a significance of 7.3 standard deviations, in pp collision data collected with the LHCb detector and corresponding to an integrated luminosity of 3.0 fb(-1) taken at center-of-mass energies of 7 and 8 TeV. With the B-c(+) -> J/psi pi(+) decay as the normalization channel, the ratio of branching fractions is measured to be B(B-c(+) -> J/psi p (p) over bar pi(+)) /B(B-c(+) -> J/psi pi(+)) = 0.143(-0.034)(+0.039) (stat) +/- 0.013 (syst). The mass of the B-c(+) messon is determined as M(B-c(+)) = 6274.0 +/- 0.4 (sysst) MeV/c(2), using the B-c(+) -> J/psi p (p) over bar pi(+) channel

    Measurements of CP violation in the three-body phase space of charmless B-+/- decays

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    The charmless three- body decay modes B +/- -> K +/-pi(-)pi(-), B-+/- -> K-+/- (KK-)-K-+/-, B-+/- pi(-) K-K- and B-+/-pi(-)pi(-) are reconstructed using data, corresponding to an integrated luminosity of 3.0 fb(-1), collected by the LHCb detector. The inclusive CP asymmetries of these modes are measured to be [GRAPHICS] where the first uncertainty is statistical, the second systematic, and the third is due to the CP asymmetry of the B +/- J Psi K-+/- reference mode. The distributions of these asymmetries are also studied as functions of position in the Dalitz plot and suggest contributions from rescattering and resonance interference processes

    First Observation of a Baryonic B-c(+) Decay

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    A baryonic decay of the Bc+B_c^+ meson, Bc+J/ψppπ+B_c^+\to J/\psi p\overline{p}\pi^+, is observed for the first time, with a significance of 7.37.3 standard deviations, in pppp collision data collected with the LHCb detector and corresponding to an integrated luminosity of 3.03.0 fb1^{-1} taken at center-of-mass energies of 77 and 88 TeV\mathrm{TeV}. With the Bc+J/ψπ+B_c^+\to J/\psi \pi^+ decay as normalization channel, the ratio of branching fractions is measured to be \begin{equation*} \frac{\mathcal{B}(B_c^+\to J/\psi p\overline{p}\pi^+)}{\mathcal{B}(B_c^+\to J/\psi \pi^+)} = 0.143^{\,+\,0.039}_{\,-\,0.034}\,(\mathrm{stat})\pm0.013\,(\mathrm{syst}). \end{equation*} The mass of the Bc+B_c^+ meson is determined as M(Bc+)=6274.0±1.8(stat)±0.4(syst)MeV/c2M(B_c^+)=6274.0\pm1.8\,(\mathrm{stat})\pm0.4\,(\mathrm{syst})\,\mathrm{MeV}/c^2, using the Bc+J/ψppπ+B_c^+\to J/\psi p\overline{p}\pi^+ channel.Comment: 20 pages, 2 figure
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