On Sovereign Credit Migration: A Study of Alternative Estimators and Rating Dynamics

This paper investigates the finite-sample behaviour of sovereign credit migration estimators and analyzes the properties of the rating process. Through bootstrap simulations, we compare a discrete multinomial estimator and two continuous hazard rate methods which differ in that one neglects time-heterogeneity in the rating process whereas the other accounts for it. The study is based on Moody's ratings 1981-2004 for 72 industrialized and emerging economies. Hazard rate estimators yield more accurate default probabilities. The time homogeneity assumption leads to underestimating the default probability and greater migration risk is inferred upon relaxing it. There is evidence of duration dependence and downgrade momentum effects in the rating process. These findings have important implications for economic and regulatory capital allocation and for the pricing of credit sensitive instruments.Sovereign credit risk; Rating transitions, Markov chain, Time heterogeneity, Rating momentum, Duration dependence.

Have Spanish companies built greater entrepreneurship after privatization?

This study analyses some of the strategic and organizational changes experienced in public firms following privatization in its double facet: sale of companies and deregulation. Specifically, we analyse the process of innovation in terms of products, processes and organization. We also look into the development of new businesses and strategic renewal, which in the end shape the entrepreneurial capacity of a company. A sample of Spanish firms which were privatized between 1985 and 2000 shows that after privatization, these companies have experienced a significant increase in entrepreneurship. These changes are even more appreciable when a high sector competition is added to the ownership shift. Once they join the private sector, their level of product, process and organizational innovation is higher. They also develop new businesses at national level, reinforce their international activity and embark on strategic renewal processes by shedding the lesser profitable businesses and modifying their competitive strategy so as to gain efficiency

MOOC and OER: identity management

Open educational resources (OER) and massive open online courses (MOOC) are new and emerging issues in the international higher education context. Under the exponential growth of the supply of courses and related publications, the purpose of this chapter is to foster scientific discussion on the socio-cultural and economic impacts, as well as its technological and pedagogical implications. Supported by the methodological typology of bibliographical studies, systematized interpretative-critical analysis based on review of the concepts, and principles guiding OER and MOOC, the authors' reflections show that the enlargement terminologies without epistemological delimitation have provoked theoretical and practical mistakes. In the final considerations, the authors systematize broader problematizations around the open educational practices in universities aimed to five dimensions: spatio-time-content, theoretical models, principles of pedagogical innovation, economic aspects, and fundamentals of collaborative culture.info:eu-repo/semantics/publishedVersio

HAVE SPANISH COMPANIES BUILT GREATER ENTREPRENEURSHIP AFTER PRIVATIZATION?

This study analyses some of the strategic and organizational changes experienced in public firms following privatization in its double facet: sale of companies and deregulation. Specifically, we analyse the process of innovation in terms of products, processes and organization. We also look into the development of new businesses and strategic renewal, which in the end shape the entrepreneurial capacity of a company. A sample of Spanish firms which were privatized between 1985 and 2000 shows that after privatization, these companies have experienced a significant increase in entrepreneurship. These changes are even more appreciable when a high sector competition is added to the ownership shift. Once they join the private sector, their level of product, process and organizational innovation is higher. They also develop new businesses at national level, reinforce their international activity and embark on strategic renewal processes by shedding the lesser profitable businesses and modifying their competitive strategy so as to gain efficiency.

Mídias digitais, fluência tecnológico-pedagógica e cultura participatória: a caminho da web-educação 4.0?

A tessitura das presentes proposições reflexivas é balizada pelos conceitos de cultura participatória e fluência tecnológico-pedagógica. Avançamos na elucidação crítico interpretativa permeando análise retrospectiva e prospectiva das características sinalizadoras dos avanços desde a Web 1.0 até a Web 4.0 problematizando contornos para área educacional.info:eu-repo/semantics/publishedVersio

Un canal abierto en la educación superior? MOOC y REA em el mundo digital

A inovação pedagógica mediada por tecnologias em redes no mundo digital é um desafio contemporâneo no ensino superior. Por isso, o objetivo é apresentar uma reflexão sobre a contribuição e organização didática dos Recursos Educacionais Abertos (REA) e Massive Open Online Courses (MOOC) na formação univer- sitária mediada por tecnologias educacionais no século XXI. Parametrizados pelos procedimentos qua- litativos típicos do estudo de caso, analisamos dados de dois MOOC internacionais que versavam sobre REA. Como resultados da participação ativa nos cursos, foram registrados planos de cursos, materiais didáticos, metodologia de avaliação, atividades de aprendizagem, interação entre participantes e partilha online. Evidenciaram-se elementos didáticos diversificados nos MOOC com ênfase em vídeos e variação entre carga horária, tipo e número de atividades semanais. Embora REA e MOOC já sejam possibilidades concretas para formação universitária online no mundo digital, inclusive, com grande demanda interna- cional, é necessário investir em políticas institucionais para consolidar a educação aberta.info:eu-repo/semantics/publishedVersio

Open educational resources: didactic transposition towards coauthorship and transformation of educational knowledge network

O propósito do presente texto é partilhar reflexões acerca das implicações didático-metodológicas durante o livre acesso, reutilização, remixagem e “repartilha” de Recursos Educacionais Abertos (REA). O princípio balizador da patente discussão é a docência investigativa que tem como um dos pilares a implementação da transposição didática para transformação e cocriação de conhecimento educacional em rede. Para tanto, explicitar as características dos REA, destacando a importância de modelos de licenciamento aberto, é um dos pontos de partida. Abordam-se, também, as especificidades dos REA na educação contemporânea em virtude das condições e contornos das conceções pedagógicas e trabalho docente requerido na organização didático-metodológica do percurso de ensino/ aprendizagem mediado por REA. Finalmente, as considerações conclusivas destacam que o (re)uso pedagógico dos REA pode gerar democratização e expansão do acesso ao conhecimento.The purpose of this paper is to share reflections on the didactic and methodological implications during free access, reuse, remixing and re-sharing of Open Educational Resources (OER). The first beacon of discussion is investigative teaching which has as one of its pillars the implementation of didactic transposition for transformation and co-creation of networked educational knowledge. To this end, a starting point is to explain the features of OER as to highlighting the importance of open licensing models. Also, this paper addresses the particularities of OER in contemporary education by virtue of the conditions and contours of pedagogical concepts and required teaching work in terms of didactic and methodological organization of the teaching/learning route mediated by OER. Finally, the concluding considerations highlight that the pedagogical (re)use of OER can generate democratization and expansion of access to knowledge.info:eu-repo/semantics/publishedVersio

Dos objetos de aprendizagem aos recursos educacionais (abertos)

Conferência Internacional realizada em Braga em 2015Analisa-se conceitos da didática e definições sobre recursos educacionais, objetos de aprendizagem e recursos educacionais abertos. Os resultados, oriundos da revisão bibliográfica, evidenciam: a) publicação acentuada a partir da proposição do conceito objetos de aprendizagem; b) terminologia dispersa para tratar do mesmo assunto; c) influência das tecnologias digitais na evolução dos recursos tecnicamente mais fechados para opções de acesso livre; d) publicações com formatos em sites e blogs para além dos artigos em periódicos e capítulos de livros; e) a produção conceitual sobre objetos de aprendizagem digitais impulsionou a criação de repositórios digitais; f) pouca evidência de aplicações práticas. Como conclusão, destaca-se que princípios de acesso, reutilização, remixagem e recompartilhamento resultam da história educacional caracterizada pela natureza teórico-prática dos recursos disponíveis. Sua consolidação implica análise efetiva sobre o potencial prático de implementação.info:eu-repo/semantics/publishedVersio

Emotional Intelligence, Satisfaction with Life and Burnout among University Students

AbstractThis research investigates the relationship between emotional intelligence, burnout and satisfaction with life among university students. Emotional intelligence is related to better adjustment or success in academic settings. High levels of emotional intelligence are associated with lower levels of anxiety, stress, burnout and with higher levels of satisfaction with life. The results led to the idea of a mediation model, academic burnout mediating the relationship between emotional intelligence and life satisfaction. Overall, the results of this study highlighted the possibility to identify students who are at risk regarding their high level of burnout or their low level of life satisfaction

Estrategias de lectura y escritura en jóvenes y adultos con bajo nivel de alfabetización

Las investigaciones realizadas desde el marco de la Psicología Cognitiva con niños hablantes de español muestran que, por las características fonéticas, fonológicas y ortográficas de nuestra lengua, el aprendizaje de la lectura y de la escritura está sesgado hacia estrategias fonológicas. Pero no se han realizado estudios en profundidad que hayan explorado este sesgo en poblaciones adultas que comienzan a alfabetizarse. El presente trabajo tiene por objeto estudiar las estrategias de lectura y escritura de jóvenes y adultos iletrados que están comenzando su proceso de alfabetización. Con este objetivo se administró una serie de pruebas de conciencia fonológica y una prueba de lectura y escritura de palabras a un grupo de 30 jóvenes y adultos iletrados. Los resultados obtenidos parecen indicar que en esta población el patrón de aprendizaje es el mismo que en los niños, en cuanto al predominio de estrategias fonológicas. Dichos resultados proporcionan nueva evidencia empírica que permite revisar la pertinencia del modelo de doble ruta en el procesamiento de palabras en lenguas de escritura transparente.The present work aims to explore reading and writing strategies of illiterate youth and adults who are beginning the process of literacy acquisition. Research with Spanish-speaking children made in the Cognitive Psychology framework showed that the phonetic, phonological and orthographic characteristics of our language biased toward phonological strategies in reading and writing acquisition. But there have been no detailed studies on this bias in adult populations that started to learn to read and write. To this end a set of tests of phonological awareness and reading and writing words abilities were administered to a group of 30 illiterate youths and adults. The results suggest that in this population the pattern of learning seems to be the same as in children, with regard to the prevalence of phonological strategies. These results provide new evidence that allows to review the relevance of the dual-route model of word processing in a language like Spanish.Fil: Benítez, María Elena. Consejo Nacional de Investigaciones Científicas y Técnicas. Oficina de Coordinación Administrativa Saavedra 15. Centro Interdisciplinario de Investigaciones En Psicología Matemática y Experimental Dr. Horacio J.a Rimoldi; ArgentinaFil: Borzone, Ana Maria. Consejo Nacional de Investigaciones Científicas y Técnicas; Argentin