Informational efficiency in distressed markets: The case of European corporate bonds

This paper investigates the effect of the 2008 financial crisis on informational efficiency by carrying out a long-memory analysis of European corporate bond markets. We compute the Hurst exponent for fifteen sectorial indices to scrutinise the time-varying behaviour of long-range memory, applying a shuffling technique to avoid short-term correlation. We find that the financial crisis has uneven effects on the informational efficiency of all corporate bond sectors, especially those related to financial services. However, their vulnerability is not homogeneous and some nonfinancial sectors suffer only a transitory effect.Fil: Fernández, Aurelio. Universitat Rovira I Virgili; EspañaFil: Guercio, María Belén. Universidad Provincial del Sudoeste; Argentina. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - Bahía Blanca. Instituto de Investigaciones Económicas y Sociales del Sur. Universidad Nacional del Sur. Departamento de Economía. Instituto de Investigaciones Económicas y Sociales del Sur; ArgentinaFil: Martinez, Lisana Belén. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - Bahía Blanca. Instituto de Investigaciones Económicas y Sociales del Sur. Universidad Nacional del Sur. Departamento de Economía. Instituto de Investigaciones Económicas y Sociales del Sur; Argentina. Universidad Provincial del Sudoeste; Argentin

First come, first served: an analysis of pioneer and follower firms' market and nonmarket actions in the European mobile telephone industry

This study examines the relationship between erosion of the first-mover's market share and the differences in competitive behaviour of pioneer firms and followers. Particularly, we pay particular attention to market actions related to innovation, pricing and promotion, and to non-market actions related to judicial issues. The empirical study has been carried out with companies that are present in a dynamic context, such as the European mobile telephone industry. Our results show that when followers take more non-market actions than pioneers the negative effect on the firstentrant's advantage is more significant. On the contrary, we have not found a significant impact of innovating and pricing actions

Business plan: technical-mining and environmental consulting

Treball Final de Grau en Finances i Comptabilitat. Codi: FC1049. Curs: 2017/2018This paper aims to analyze the viability of initiating a technical-mining and environmental consulting. Extractive activities have a strong impact on the environment, producing serious effects on it. This is why the hardness and lack of flexibility in the current legislation on mining and the environment. This project seeks to provide services to the owners of extractive activities of natural resources, with the ultimate aim of restoring the affected environment and producing the least possible impact. In order to analyze the feasibility of this project, a complete business plan will be developed, carrying out an analysis of the environment, market, service provision and commercialization, organization of the company and human resources, together with an economic-financial analysis. The results of the project will provide us with an estimate of its viability and a projection of future results. Books, websites and mining and environmental legislation have been consulted for this purpose

New relationships involving the mean curvature of slant submanifolds in S-space-forms

Relationships between the Ricci curvature and the squared mean curvature and between the shape operator associated with the mean curvature vector and the sectional curvature function for slant submanifolds of an S-space-form are proved, particularizing them to invariant and anti-invariant submanifolds tangent to the structure vector fields.Plan Andaluz de Investigación (Junta de Andalucía

La competencia dinámica entre pioneros y seguidores: aplicación al sector de la telefonía móvil en Europa

El objetivo de este trabajo es analizar cómo las diferencias en la conducta competitiva de las empresas pioneras y seguidores afectan a la ventaja del primer entrante. Se plantea un modelo teórico a partir de la literatura sobre la estrategia basada en acciones y se contrasta empíricamente en el sector de la telefonía móvil en Europa en el período 1997-2000. La metodología utilizada ha sido la del "análisis de contenido estructurado"; que permite medir la estrategia como una secuencia de acciones en el tiempo. Los resultados obtenidos indican que el número de acciones que emprenden los nuevos entrantes influye positivamente en la erosión de la cuota de mercado de la empresa pionera. Asimismo, se comprueba que los clientes valoran positivamente la simplicidad competitiva de las empresas seguidoras. Finalmente, también se ha encontrado relevante en la erosión de la ventaja del pionero la experiencia previa en el sector de los nuevos entrantes

La interacción del desarrollo turístico en una reserva natural: el caso de la región de Tremiti (Italia)

XII Coloquio de Geografía del Turismo, Ocio y Recreación de la Asociación de Geógrafos Españoles. Colmenarejo (Madrid), del 17 al 19 de junio de 2010.Proyecto con referencia 08TUR006210PR, financiado por la Xunta de Galicia: Innovación, Ciencia e Tecnoloxía-INCITEPublicad

Propuesta de edición y nueva clasificación métrica del CIL XIII 1720: dos hexámetros en un difícil CLE Lugdunense

This paper focuses in a new proposal of edition of a funerary and fragmentary inscription from Lyon. The study and proposal allows us to recognize two corrects hexameters in a composition traditionally classifi ed as commatica

Comparison of safflower oil extraction kinetics at two characteristic moisture conditions: Statistical analysis of non-linear model parameters

In this study the kinetics of oil extraction from partially dehulled safflower seeds at two moisture conditions (7 and 9% dry basis) was investigated. The extraction essays were performed using a stirred batch system, thermostated at 50 ºC, using n-hexane as solvent. The data obtained were fitted to a modified diffusion model in order to represent the extraction kinetics. The model took into account a washing and a diffusive step. Fitting parameters were compared statistically at both moisture conditions. The oil yield was increased in the extraction time in both cases, although the oil was released at different rates. A comparison of the parameters showed that both the extracted portion in the washing phase and the effective diffusion coefficient were moisture-dependent. The effective diffusivity was 2.81 10-12 and 8.06 10-13 m2 s-1 for a moisture content of 7% and 9%, respectively.Fil: Baumler, Erica Raquel. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - Bahía Blanca. Planta Piloto de Ingeniería Química. Universidad Nacional del Sur. Planta Piloto de Ingeniería Química; Argentina. Universidad Nacional del Centro de la Provincia de Buenos Aires. Facultad de Ingenieria Olavarria. Departamento de Ingenieria Quimica; ArgentinaFil: Fernández, María Belén. Universidad Nacional del Centro de la Provincia de Buenos Aires. Facultad de Ingenieria Olavarria. Departamento de Ingenieria Quimica; ArgentinaFil: Nolasco, Susana Maria. Universidad Nacional del Centro de la Provincia de Buenos Aires. Facultad de Ingenieria Olavarria. Departamento de Ingenieria Quimica; ArgentinaFil: Perez, Ethel. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - Bahía Blanca. Planta Piloto de Ingeniería Química. Universidad Nacional del Sur. Planta Piloto de Ingeniería Química; Argentina. Universidad Nacional del Centro de la Provincia de Buenos Aires. Facultad de Ingenieria Olavarria. Departamento de Ingenieria Quimica; Argentin

Induced structures on slant submanifolds of metric F-manifolds

We study whether it is possible to obtain an induced structure on a slant submanifold of a metric f-manifold. Moreover, we give conditions for any isometric immersion between two metric fmanifolds to be slant and we prove a characterization theorem when the submanifold has the smallest possible dimension to be proper slant.Plan Andaluz de Investigación (Junta de Andalucía)Ministerio de Educación y CienciaFondo Europeo de Desarrollo Regiona