Matemática Financiera. Material didáctico

Material didáctico para la asignatura Matemática Financiera del Grado en Administración y Dirección de Empresa

Curso de matemática financiera. Teoría y ejercicios

Teoría y ejercicios de Matemática Financiera para el grado de Administración y Dirección de Empresa

Basics on the Theory of Interest: Applications to the Spanish financial market

This manuscript is intended for readers who are interested in knowing the basic concepts and mathematical tools that are currently used in financial markets. It is aimed at both university students who will require this knowledge when they start working in these markets and professionals who already work in them. The book comprises four units. Unit 1, Financial transactions and financial regimes, deals with the time value of money as a main idea, as well as other related concepts such as financial capital, financial equivalence, simple and compound interest, annual effective interest rate, etc. Unit 2 is devoted to Annuities. In particular, level or constant annuities and varying annuities, both in geometric and in arithmetic progression are explained. A sound grounding of the first two units is essential to understand Unit 3 and Unit 4 which analyze Loans and Bonds, respectively. The manuscript concludes with some information sources. Practically all the concepts introduced in the book are followed by illustrative examples. On the one hand, academic examples addressed to understand the theoretical foundations are stated. Additionally, the examples are supplemented with real examples taken from the financial market so that the reader can understand their practical and professional application. In this regards, all real applications considered are based on the Spanish financial market. Furthermore, in order to assimilate properly the concepts in each unit, a set of problems to be solved is proposed, alongside a list of the correct answers. The recommended approach for using this book is to read each unit, work on the embedded examples, and then to practice by solving the set of problems

High-power test device for package thermal assessment and validation of thermal measuremetn tecniques

This paper describes the structure and thermal behavior of a high-power thermal test chip (up to 200 W/cm2) designed for power electronics package assessment, which has also been used for the validation of thermal measurement techniques. In particular, we show two application examples where the proposed device allowed the assessment of different power substrate technologies, and the validation of temperature measurement techniques used to characterize the high frequency behavior of circuits and devices in the frequency domain using the heterodyne technique.Postprint (published version

Apuntes de matemática de las operaciones financieras

En principio, todos somos conscientes del diferente valor que tiene el dinero según el momento en que se disponga de él, de forma que es preferible cobrar 1.000€ al final de cada mes que 12.000€ al final del año. Sin embargo, muchas veces, en la práctica y de forma inconsciente, se suman cantidades monetarias situadas en distintos momentos del tiempo (lo habitual es que se diga que se percibe un sueldo anual de 12.000€). En general, se hace poco hincapié en el momento concreto de la percepción del dinero y se centra la atención únicamente en las cantidades monetarias. Justamente uno de los objetivos que nos hemos propuesto los autores de este manual es que los alumnos de los grados relacionados con la economía y la empresa, que en el futuro participarán en los mercados financieros, traten con cierta profundidad el mundo de la matemática financiera y aprendan a valorar cantidades monetarias disponibles en diferentes instantes temporales y, con ello, productos financieros. A partir de la idea básica del valor temporal del dinero, se estará en disposición de entender el significado de términos como capitalizar, actualizar, tipo de interés nominal, TAE, TIR, etc., y se habrá adquirido la capacidad de analizar distintos productos financieros, negociar con entidades financieras sobre las condiciones de una determinada operación, plantearse las mejores opciones de financiación para un particular o una empresa, analizar la viabilidad de distintos proyectos de inversión, etc

Los fondos de inversión como producto financiero alternativo a los planes de pensiones

Los fondos de inversión pueden suponer, para ciertos trabajadores, una mejor alternativa que los planes de pensiones para planificar la jubilación. Además, los fondos de inversión tienen la ventaja añadida de gozar de una liquidez muy superior a la de los planes de pensiones

Comparación de planes de pensiones y planes individuales de ahorro sistemático en un entorno de tipos de interés nulos

El presente trabajo tiene por objeto la comparación del producto financiero más tradicional y contratado en España para completar la pensión pública de jubilación, el plan de pensiones, con otro producto que, teniendo el mismo objetivo, ofrece diferentes ventajas fiscales, el plan individual de ahorro sistemático (...

ISGylation controls exosome secretion by promoting lysosomal degradation of MVB proteins

Exosomes are vesicles secreted to the extracellular environment through fusion with the plasma membrane of specific endosomes called multivesicular bodies (MVB) and mediate cell-to-cell communication in many biological processes. Posttranslational modifications are involved in the sorting of specific proteins into exosomes. Here we identify ISGylation as a ubiquitin-like modification that controls exosome release. ISGylation induction decreases MVB numbers and impairs exosome secretion. Using ISG15-knockout mice and mice expressing the enzymatically inactive form of the de-ISGylase USP18, we demonstrate in vitro and in vivo that ISG15 conjugation regulates exosome secretion. ISG15 conjugation triggers MVB co-localization with lysosomes and promotes the aggregation and degradation of MVB proteins. Accordingly, inhibition of lysosomal function or autophagy restores exosome secretion. Specifically, ISGylation of the MVB protein TSG101 induces its aggregation and degradation, being sufficient to impair exosome secretion. These results identify ISGylation as a novel ubiquitin-like modifier in the control of exosome production.We thank Dr K. Knobeloch, Dr A. Garcia-Sastre and Dr M.A. Alonso for providing reagents, and Dr S. Bartlett for assistance with English editing. C.E. is thankful to electron microscopy facility (campus Casanova), CCiT-University of Barcelona. This study was supported by grants SAF2014-55579-R from the Spanish Ministry of Economy and Competitiveness, INDISNET-S2011/BMD-2332 from the Comunidad de Madrid, Cardiovascular Network RD12-0042-0056 and PIE13/00041 from Instituto de Salud Carlos III (Fondo de Investigacion Sanitaria del Instituto de Salud Carlos III and co-funding by Fondo Europeo de Desarrollo Regional FEDER), ERC-2011-AdG 294340-GENTRIS and COST-Action BM1202 to F.S.-M.; grant SAF2014-54623-R, FIS grant PI11/00127 (Fondo de Investigacion Sanitaria del Instituto de Salud Carlos III and Ministry of Health of Spain, State secretary of R+D and FEDER/FSE) and Bayer Group Grants4Grants (ID 2013-08-0982) to S.G.; and grant BFU2015-66785-P from the Spanish Ministry of Economy and Competitiveness to C.E.; Centro Nacional de Investigaciones Cardiovasculares (CNIC) is supported by the Spanish Ministry of Economy and Competitiveness (MINECO) and the Pro-CNIC Foundation, and is a Severo Ochoa Center of Excellence (MINECO award SEV-2015-0505). C.V.-B. was supported by FPU programme (Spanish Ministry of Education). M. M. is supported by MS14/00219 from Instituto de Salud Carlos III.S

Miro-1 links mitochondria and microtubule dynein motors to control lymphocyte migration and polarity

The recruitment of leukocytes to sites of inflammation is crucial for a functional immune response. In the present work, we explored the role of mitochondria in lymphocyte adhesion, polarity, and migration. We show that during adhesion to the activated endothelium under physiological flow conditions, lymphocyte mitochondria redistribute to the adhesion zone together with the microtubule-organizing center (MTOC) in an integrin-dependent manner. Mitochondrial redistribution and efficient lymphocyte adhesion to the endothelium require the function of Miro-1, an adaptor molecule that couples mitochondria to microtubules. Our data demonstrate that Miro-1 associates with the dynein complex. Moreover, mitochondria accumulate around the MTOC in response to the chemokine CXCL12/SDF-1α this redistribution is regulated by Miro-1. CXCL12-dependent cell polarization and migration are reduced in Miro-1-silenced cells, due to impaired myosin II activation at the cell uropod and diminished actin polymerization. These data point to a key role of Miro-1 in the control of lymphocyte adhesion and migration through the regulation of mitochondrial redistribution.This study was supported by SAF2011-25834 from the Spanish Ministry of Science and Innovation, INDISNET-S2011/BMD-2332 from the Comunidad de Madrid, Red Cardiovascular RD 12-0042-0056 from Instituto Salud Carlos III (ISCIII), and ERC-2011-AdG 294340- GENTRIS. J.M.G.-G. received salary support from the Miguel Servet (CP11/00145) ISCIII program. R.V.-B. was supported by a Juan de la Cierva postdoctoral contract from the Spanish Ministry of Economy and Competiveness (JCI-2011-09663

Microbial metabolites are associated with a high adherence to a Mediterranean dietary pattern using a 1h-nmr-based untargeted metabolomics approach

The study of biomarkers of dietary patterns including the Mediterranean diet (MedDiet) is scarce and could improve the assessment of these patterns. Moreover, it could provide a better understanding of health benefits of dietary patterns in nutritional epidemiology. We aimed to determine a robust and accurate biomarker associated with a high adherence to a MedDiet pattern that included dietary assessment and its biological effect. In this cross-sectional study, we included 56 and 63 individuals with high (H-MDA) and low (L-MDA) MedDiet adherence categories, respectively, all from the Prevención con Dieta Mediterránea trial. A 1H-NMR-based untargeted metabolomics approach was applied to urine samples. Multivariate statistical analyses were conducted to determine the metabolite differences between groups. A stepwise logistic regression and receiver operating characteristic curves were used to build and evaluate the prediction model for H-MDA. Thirty-four metabolites were identified as discriminant between H-MDA and L-MDA. The fingerprint associated with H-MDA included higher excretion of proline betaine and phenylacetylglutamine, among others, and decreased amounts of metabolites related to glucose metabolism. Three microbial metabolites - phenylacetylglutamine, p-cresol and 4-hydroxyphenylacetate - were included in the prediction model of H-MDA (95% specificity, 95% sensitivity and 97% area under the curve). The model composed of microbial metabolites was the biomarker that defined high adherence to a Mediterranean dietary pattern. The overall metabolite profiling identified reflects the metabolic modulation produced by H-MDA. The proposed biomarker may be a better tool for assessing and aiding nutritional epidemiology in future associations between H-MDA and the prevention or amelioration of chronic diseases