Regulación, Supervisión y Conservadurismo Contable: La Interacción de los Tres Pilares de Basilea II con la Calidad de los Resultados Reportados en la Banca Mundial

Accounting conservatism is a quality of earnings positively associated with the strength of banking regu- lation and supervision and also high market discipline, but there still remains the unresolved question of the way these three pillars of Basel II interact with each other. We analyse how regulatory and supervisory regimes in the banking industry clearly interact with market discipline measures, such as listing status, own- ership, market concentration and disclosure requirements between ten years before Basel II fails, drawing upon data from 14,651 bank year observations from 54 different countries. According to our findings, there is a clear correlation between the strength of the enforcement of regulation and supervision and accounting conservatism success in countries where market discipline fails. That is to say, the supervisory power reinforces the effect of listing status, ownership and concentration on con- servatism whereas the capital regulatory system mitigates the effect of market discipline on conservatism. We also evidence that in a powerful regulatory system, more disclosure requirements are associated in less conservatism policies in financial entities. Strong increases in regulation, its enforcement and supervisory power introduced in the Basel III mechanism is subject to the debate posed in this paper. The quality of accounting earnings can be improved to prevent bank failures through the application of strong Pillars I and II, i.e., regulation and supervision. Having said that, market discipline still remains a key factor in achieving financial stability.El conservadurismo contable es una cualidad de las ganancias asociada positivamente con la solidez de la regulación y supervisión bancaria y también con la alta disciplina del mercado, pero aún queda la cuestión sin resolver de la forma en que estos tres pilares de Basilea II interactúan entre sí. Analizamos cómo los regímenes regulatorios y de supervisión en la industria bancaria interactúan claramente con las medidas de disciplina del mercado, como si cotizan o no, la distinta estructura de propiedad, la concentración del mercado y los requisitos de divulgación en una muestra de 14.651 observaciones de 54 países diferentes durante los diez años anteriores al fallo de Basilea II. Según nuestros hallazgos, existe una clara correlación entre la fortaleza de la regulación y la supervisión bancaria y el nivel del conservadurismo contable en países donde la disciplina de mercado es débil. Es decir, el poder de supervisión refuerza el efecto del estatus de cotización, la propiedad y la concentración sobre el conservadurismo, mientras que el sistema de regulación de capital mitiga el efecto de la disciplina de mercado sobre el conservadurismo. También evidenciamos que, en un sistema regulatorio poderoso, más requisitos de divulgación están asociados con políticas menos conservadoras en las entidades financieras. Los resultados obtenidos contribuyen al debate sobre si los fuertes incrementos en la regulación bancaria, y el mayor poder de supervisión introducidos en el mecanismo de Basilea III están justificados ante fallos en la disciplina de mercado introducida por Basilea II. La calidad del resultado contable se puede mejorar para prevenir quiebras bancarias mediante la aplicación de fuertes Pilares I y II, es decir, regulación y supervisión. Dicho esto, la disciplina del mercado sigue siendo un factor clave para lograr la estabilidad financiera, pero sigue sin ser el más relevante

Spatial variation of the vegetative roughness in Mediterranean torrential streams affected by check dams

This is an Accepted Manuscript of an article published in Hydrological Sciences Journal on 2018, available online: http://www.tandfonline.com/10.1080/02626667.2017.1414384[EN] This study focuses on the spatial variations in vegetative roughness associated with morphological channel adjustments due to the presence of check dams in Mediterranean torrential streams. Manning's n values were estimated using methods established by previous studies of submerged and non-submerged vegetation in laboratory flume experiments and field work. The results showed a linear decrease in shrub density and rate of variation of the roughness coefficient versus degree of submergence with increasing distance upstream from the check dam, while downstream, the filling of the check dam and the bed incision had the most influence. A regression analysis was applied by fitting the data to different models: relationships between Manning's n and the flow velocity were found to be of the power type for shrubs in all upstream sections, while relationships of flow velocity versus hydraulic radius in the sections closest to check dams showed a good fit to second-order polynomial equations.This work was supported by project PI/13 (Hydrological and geomorphological response to the fluvial torrential systems affected by forestry-hydrological restoration works in semiarid catchments in southeast of Spain), from the Euromediterranean Institute of Hydrotechnics, European Council, and the Autonomous Community of Murcia, Spain.Conesa-García, C.; Sánchez-Tudela, JL.; Pérez-Cutillas, P.; Martinez-Capel, F. (2018). Spatial variation of the vegetative roughness in Mediterranean torrential streams affected by check dams. Hydrological Sciences Journal. 63(1):114-135. doi:10.1080/02626667.2017.1414384S11413563

Simulation of retrospective morphological channel adjustments using high-resolution differential digital elevation models versus predicted sediment delivery and stream power variations

[EN] This work proposes a methodological approach applied to ephemeral gravel-bed streams to verify the change in the magnitude and frequency of hydrological events affecting the morphological dynamics and sediment budget in this type of channel. For the case study, the Azohia Rambla, located in southeastern Spain, was chosen, emphasizing the research on two reference riverbed sections (RCRs): an upper one, with a predominance of erosion, and a middle one, where processes of incision, transport, and deposition were involved. First, this approach focuses on relationships between peak discharges and sediment budgets during the period 2018-2022. For this purpose, water level measurements from pressure sensors, a One-Dimensional Hydrodynamic model, and findings from comparative analyses of high-resolution differential digital elevation models (HRDEM of Difference-HRDoD) based on SfM-MVS and LiDAR datasets were used. In a second phase, the GeoWEPP model was applied to the period 1996-2022 in order to simulate runoff and sediment yield at the event scale for the watersheds draining into both RCRs. During the calibration phase, a sensitivity analysis was carried out to detect the most influential parameters in the model and confirm its capacity to simulate peak flow and sediment delivery in the area described above. Values of NS (Nash-Sutcliffe efficiency) and PBIAS (percent bias) equal to 0.86 and 7.81%, respectively, were found in the calibration period, while these indices were 0.81 and -4.1% in the validation period. Finally, different event class patterns (ECPs) were established for the monitoring period (2018-2022), according to flow stage and morphological channel adjustments (overtopping, bankfull and sub-bankfull, and half-sub-bankfull), and then retrospectively extrapolated to stages of the prior simulated period (1996-2018) from their typical sequences (PECPs). The results revealed a significant increase in the number of events and PECPs leading to lower bed incision rates and higher vertical accretion, which denotes a progressive increase in bed armoring and bank erosion processes.This research was funded by ERDF/Spanish Ministry of Science, Innovation and Universities-State Research Agency (AEI)/Project CGL2017-84625-C2-1-R. State Program for Research, Develop-ment and Innovation focused on the Challenges of SocietyConesa-García, C.; Martínez-Salvador, A.; Puig-Mengual, C.; Martinez-Capel, F.; Pérez-Cutillas, P. (2023). Simulation of retrospective morphological channel adjustments using high-resolution differential digital elevation models versus predicted sediment delivery and stream power variations. Water. 15(15):1-35. https://doi.org/10.3390/w15152697135151

Incorporating Biotic Information in Species Distribution Models: A Coregionalized Approach

In this work, we discuss the use of a methodological approach for modelling spatial relationships among species by means of a Bayesian spatial coregionalized model. Inference and prediction is performed using the integrated nested Laplace approximation methodology to reduce the computational burden. We illustrate the performance of the coregionalized model in species interaction scenarios using both simulated and real data. The simulation demonstrates the better predictive performance of the coregionalized model with respect to the univariate models. The case study focus on the spatial distribution of a prey species, the European anchovy (Engraulis encrasicolus), and one of its predator species, the European hake (Merluccius merluccius), in the Mediterranean sea. The results indicate that European hake and anchovy are positively associated, resulting in improved model predictions using the coregionalized model.Postprin

Preventive Veterinary Medicine 186 (2021) 105222Available online 25 November 20200167-5877/© 2020 Elsevier B.V. All rights reserved.Resistance patterns to C and D antibiotic categories for veterinary use of Campylobacter spp., Escherichia coli and Enterococcus spp. commensal isolates from laying hen farms in Spain during 2018

©2021. This manuscript version is made available under the CC-BY-NC-ND 4.0 license http://creativecommons.org/licenses/by-nc-nd/4.0/ This document is the Submitted, Accepted, Published, version of a Published Work that appeared in final form in Preventive Veterinary Medicine.Antimicrobial Resistance (AMR) is a global threat for human and animal health. Few studies have been carried out on laying hens. The aim of this work was to evaluate the antimicrobial susceptibility of commensal Campylobacter spp., E. coli, and Enterococcus spp. isolates in Spanish laying hens in 2018. Samples were collected from 39 laying hen farms. The microorganisms of interest were isolated and confirmed by PCR. The Minimum Inhibitory Concentration (MIC) to antimicrobials of C and D categories were determined. 195 E. coli, 195 Enterococcus spp. and 25 Campylobacter spp. isolates were obtained. E. coli isolates showed high resistance to D category antimicrobials (sulfamethoxazole 76.41 %, tetracycline 62.05 %, trimethoprim 50.77 %, ampicillin 30.77 %) and lower resistance to C category (azithromycin 30.26 %, gentamicin 12.31 %, chloramphenicol 4.62 %). A 10.26 % of E. coli isolates were susceptible to all antimicrobials tested, Multi Drug Resistance (MDR) to 3 antimicrobial families was found in 23.08 % of the isolates and 13.85 % were MDR to 4 families, being Erythromycin-Sulfamethoxazole-Tetracycline the most common resistance profile (10.77 %). Enterococcus spp. showed very high resistance to D category tetracycline (78.47 %) and C category erythromycin (76.42 %). The 11.79 % of Enterococcus spp. isolates were susceptible to all antimicrobials and 53.33 % were resistant to 2 families, being Erythromycin-Tetracycline the most common AMR profile (51.79 %). Regarding Campylobacter spp., resistance to tetracycline (48 %) was higher than resistance to C category antimicrobials (erythromycin 28 %, streptomycin 24 %, gentamicin 16 %). There was a 52 % sensitivity to all tested antimicrobials and 24 % showed MDR to aminoglycosides, macrolides and tetracyclines (Gentamicin-Streptomycin-Erythromycin-Tetra-cycline MDR profile). Novel data on AMR in laying hen commensal isolates in Spain was provided. High resis-tance to several antimicrobials was found, especially to key drugs for the treatment of zoonosis, which represents a public health risk. Better surveillance and careful regulation of antimicrobial use is required in laying hen production

Heavy-flavour production in Pb-Pb collisions at the LHC, measured with the ALICE detector

We present the first results from the ALICE experiment on the nuclear modification factors for heavy-flavour hadron production in Pb-Pb collisions at sqrt{s_NN}=2.76 TeV. Using proton-proton and lead-lead collision samples at sqrt{s}=7 TeV and sqrt{s_NN}=2.76 TeV, respectively, nuclear modification factors R_AA(pt) were measured for D mesons at central rapidity (via displaced decay vertex reconstruction), and for electrons and muons, at central and forward rapidity, respectively.Comment: 8 pages, 5 figures, plenary talk at Quark Matter 2011, Annecy, Franc

A vision about lifelong learning and its barriers

Around 25 years ago, some researchers argued for moving towards innovative learning models characterized by being more personalized and where the students would have a more active role in deciding what to learn, when to learn and how to learn. Nowadays, there is a need for a flexible, efficient, universal and lifelong education. Lifelong learning is fully integrated into our society and, from the student point of view, it is very different from regular learning. Among these differences there is the maturity of students, the fact that the domains of interest are much broader, the way how learning occurs at different depths, the fact that the topics to study may be related both to work, family and leisure, and that students have little availability due to their necessity to conciliate home, work, leisure and learning. Lifelong learning requires personalized models that adapt to students'' needs and constraints, but lifelong learners keep suffering from models that are neither adapted to their necessities, nor to the needs of society. This paper reflects on the actual situation of lifelong learning, analyses some of the relevant literature and discusses the challenges to conceptualize, from a transdisciplinary point of view, innovative e-learning models that promote self-determination of students

Modeling human endometrial decidualization from the interaction between proteome and secretome

CONTEXT: Decidualization of the human endometrium, which involves morphological and biochemical modifications of the endometrial stromal cells (ESCs), is a prerequisite for adequate trophoblast invasion and placenta formation. OBJECTIVE: This study aims to investigate the proteome and secretome of in vitro decidualized ESCs. These data were combined with published genomic information and integrated to model the human decidualization interactome. DESIGN: Prospective experimental case-control study. SETTING: A private research foundation. PATIENTS: Sixteen healthy volunteer ovum donors. INTERVENTION: Endometrial samples were obtained, and ESCs were isolated and decidualized in vitro. MAIN OUTCOME MEASURES: Two-dimensional difference in-gel electrophoresis, matrix-assisted laser desorption/ionization-time-of-flight mass spectrometry, Western blot, human protein cytokine array, ELISA, and bioinformatics analysis were performed. RESULTS: The proteomic analysis revealed 60 differentially expressed proteins (36 over- and 24 underexpressed) in decidualized versus control ESCs, including known decidualization markers (cathepsin B) and new biomarkers (transglutaminase 2, peroxiredoxin 4, and the ACTB protein). In the secretomic analysis, a total of 13 secreted proteins (11 up- and 2 down-regulated) were identified, including well-recognized markers (IGF binding protein-1 and prolactin) and novel ones (myeloid progenitor inhibitory factor-1 and platelet endothelial cell adhesion molecule-1). These proteome/secretome profiles have been integrated into a decidualization interactome model. CONCLUSIONS: Proteomic and secretomic have been used as hypothesis-free approaches together with complex bioinformatics to model the human decidual interactome for the first time. We confirm previous knowledge, describe new molecules, and we have built up a model for human in vitro decidualization as invaluable tool for the diagnosis, therapy, and interpretation of biological phenomena.The participation of T.G.-G. was supported by a grant of the Ministry of Education and Science AP2007-04066 (FPU). CNIC was supported by the Spanish Ministry of Science and Innovation and the Pro-CNIC Foundation.S

Audit Risk Management and Audit Effort in Small and Medium Audit Firms

The purpose of this paper is to analyze audit planning decisions of small and medium-sized Spanish audit firms and the resulting impact on audit risk and effort. Prior research examining audit risk overwhelmingly focuses on Big 4 audit firms, and little is known about how audit planning decisions influence audit risk in smaller firms, a significant part of the audit profession.  Thus, it is important to examine the planning judgments in small and medium sized audit firms and the link between planning risk assessments and the extent of audit effort put forth to achieve an acceptable level of audit risk. Using audit engagement specific data derived from publicly available databases and survey data, this study investigates the factors assessment of their client’s risk of material misstatement and whether the effort applied in performance of the audit engagement effectively responds to that risk. We find a significant statistical relationship between audit risk and audit effort, which provides empirical evidence that auditors modify the extent of audit effort based on perceived audit risk and brings into debate the work of the small firms. Additional analysis shows that audit effort (i.e., hours) is significantly influenced by the tenure and the timing of the audit engagement (i.e., peak audit season). However, audit engagements with longer tenure do not adjust their audit effort in response related to low management integrity or weak internal controls, which suggests familiarity, that is, auditors may not be as skeptical of management incentives. This paper contributes to debate about audit quality and whether the size of audit firms serves as an observable characteristic associated with higher audit quality

ME3CA - Monitoring environment exercise and emotion by a cognitive assistant

The elderly population has increased dramatically in today’s society. This fact implies the need to propose new policies of attention to this group but without increasing social spending. Currently, there is a need to promote the care of elderly people in their own homes, avoiding being transferred to saturated residences. Bearing this in mind, in recent years numerous approaches have tried to offer solutions in this sense using the continuous advances in new information and communication technologies. In this way, this article proposes the employment of a personal assistant to help the elderly in the development of their daily life activities. The proposed system, called ME3CA, is a cognitive assistant that involves users in rehabilitating exercise, consisting of a sensorization platform and different integrated decision-making mechanisms. The system tries to plan and recommend activities to older people trying to improve their physical activity. In addition, in the decision making process the assistant takes into account the emotions of the user. In this way, the system is more personalized and emotionally intelligent.- (undefined