Fundamentos antropológicos para el diálogo transcultural: la ética comunicativa de Ludwig Feuerbach

Cinquenes Jornades de Foment de la Investigació de la FCHS (Any 1999-2000

El resultat de la participació de les associacions en el govern d’un ens públic

Quartes Jornades de Foment de la Investigació de la FCHS (Any 1998-1999

Divulgación de información sobre riesgos y coste de los recursos propios: un enfoque bayesiano

El objetivo de este artículo es analizar la relación entre la divulgación de información sobre riesgo y el coste de capital de los recursos propios de empresas que cotizan en el mercado de capitales español. Este estudio utiliza un conjunto de 71 empresas que cotizaron en la Bolsa de Madrid entre 2010 y 2015; todas son empresas no financieras de las que había previsiones de beneficios. El problema se ha analizado bajo un enfoque de regresión lineal Bayesiana. Los resultados del estudio muestran que el coste de capital de los recursos propios y la información de riesgo divulgada no están relacionados cuando se toma la información de riesgos de manera global. Sin embargo, cuando la información de riesgo se divide en riesgos financieros y no financieros, se encuentra una relación positiva entre los riesgos financieros y el coste de capital de los recursos propios.This paper aims to analyze the relationship between risk information disclosure and the cost of equity of companies in the Spanish capital market. This study uses a set of 71 firms listed on Madrid stock exchange between 2010 and 2015; all of them are non-financial listed companies for which profit forecasts existed. The problem was analyzed using a Bayesian linear regression approach. The results show that cost of equity and disclosed risk information are not related if a global view of the latter is adopted. However, a positive relationship between financial risks and the cost of equity occurs when risk information is divided into financial and non-financial risks

Increment of specific heat capacity of solar salt with SiO2 nanoparticles

Thermal energy storage (TES) is extremely important in concentrated solar power (CSP) plants since it represents the main difference and advantage of CSP plants with respect to other renewable energy sources such as wind, photovoltaic, etc. CSP represents a low-carbon emission renewable source of energy, and TES allows CSP plants to have energy availability and dispatchability using available industrial technologies. Molten salts are used in CSP plants as a TES material because of their high operational temperature and stability of up to 500°C. Their main drawbacks are their relative poor thermal properties and energy storage density. A simple cost-effective way to improve thermal properties of fluids is to dope them with nanoparticles, thus obtaining the so-called salt-based nanofluids. In this work, solar salt used in CSP plants (60% NaNO3 + 40% KNO3) was doped with silica nanoparticles at different solid mass concentrations (from 0.5% to 2%). Specific heat was measured by means of differential scanning calorimetry (DSC). A maximum increase of 25.03% was found at an optimal concentration of 1 wt.% of nanoparticles. The size distribution of nanoparticle clusters present in the salt at each concentration was evaluated by means of scanning electron microscopy (SEM) and image processing, as well as by means of dynamic light scattering (DLS). The cluster size and the specific surface available depended on the solid content, and a relationship between the specific heat increment and the available particle surface area was obtained. It was proved that the mechanism involved in the specific heat increment is based on a surface phenomenon. Stability of samples was tested for several thermal cycles and thermogravimetric analysis at high temperature was carried out, the samples being stable.Universitat Jaume I (project P1-1B2013-43

Risk information disclosure and its impact on analyst forecast accuracy

Este artigo tem como objetivo analisar a influência da divulgação de informações de risco na precisão das previsões de lucro de analistas financeiros para o mercado de ações espanhol. Para isso, foi realizada uma análise de regressão com dados em painel de uma amostra de empresas não financeiras listadas na Bolsa de Madri de 2010 a 2015. Os resultados mostram que as informações de risco não ajudam a reduzir os níveis de incerteza de analistas. Além disso, a análise separada das informações de risco verificadas e não verificadas confirma que não há relação entre as informações de risco publicadas e a percepção dos analistas sobre os níveis de risco das empresas.This paper aims to analyse the influence of risk information disclosure on the accuracy of financial analysts’ earnings forecasts for the Spanish stock market. To do this, we performed a regression analysis with panel data on a sample comprised of non-financial firms listed on the Madrid Stock Exchange from 2010 to 2015. The results of the study show that risk information disclosed by firms does not help to reduce analysts’ uncertainty levels nor enable them to make more accurate forecasts of future profits. Furthermore, separately testing verified and unverified risk information disclosure confirms that there is no relationship between the risk information disclosed and the perception that analysts have on companies’ levels of risk.Este trabajo tiene como objetivo analizar la influencia de la divulgación de información de riesgo en la precisión de las previsiones de beneficios de los analistas financieros para el mercado de valores español. Para ello, se ha realizado un análisis de regresión con datos de panel para una muestra de empresas no financieras que cotizan en la Bolsa de Madrid de 2010 a 2015. Los resultados muestran que la información de riesgo no ayuda a reducir los niveles de incertidumbre de los analistas. Adicionalmente, el análisis por separado de la información de riesgos verificada y no verificada confirma que no existe relación entre la información de riesgos publicada y la percepción que los analistas tienen sobre los niveles de riesgo de las empresas

L1CAM binds ErbB receptors through Ig-like domains coupling cell adhesion and neuregulin signalling.

During nervous system development different cell-to-cell communication mechanisms operate in parallel guiding migrating neurons and growing axons to generate complex arrays of neural circuits. How such a system works in coordination is not well understood. Cross-regulatory interactions between different signalling pathways and redundancy between them can increase precision and fidelity of guidance systems. Immunoglobulin superfamily proteins of the NCAM and L1 families couple specific substrate recognition and cell adhesion with the activation of receptor tyrosine kinases. Thus it has been shown that L1CAM-mediated cell adhesion promotes the activation of the EGFR (erbB1) from Drosophila to humans. Here we explore the specificity of the molecular interaction between L1CAM and the erbB receptor family. We show that L1CAM binds physically erbB receptors in both heterologous systems and the mammalian developing brain. Different Ig-like domains located in the extracellular part of L1CAM can support this interaction. Interestingly, binding of L1CAM to erbB enhances its response to neuregulins. During development this may synergize with the activation of erbB receptors through L1CAM homophilic interactions, conferring diffusible neuregulins specificity for cells or axons that interact with the substrate through L1CAM

Climate-related prudential regulation tools in the context of sustainable and responsible investment: a systematic review

Several major economies have already committed to achieving a carbon-neutral economy by 2050, in accordance with the Paris Agreement. The banking system in all countries has a key role to play in supporting the transition to a low-carbon economy, and academia has been researching the prudential regulation tools that will enable the incorporation of climate risk management into banking. However, no studies to date have attempted to systematize research on Climate-related Prudential Regulation Tools. This study conducts a systematic review of the English-language peer-reviewed literature produced on this topic in the period since the 2007–2008 financial crisis, revealing the state of the art and the research gaps. The thematic synthesis carried out in this study shows the experience of some countries in the implementation of these tools and the advancement of academic knowledge in this field. These findings can serve as a reference for the further development of a harmonized international framework to address climate risk in banking

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Introducción a la matemática de las operaciones financieras

Departament de Finances i Comptabilitat. Codi assignatura: FC1003; EC1003; AE100