APPLYING CHAID TO IDENTIFY THE ACCOUNTING-FINANCIAL CHARACTERISTICS OF THE MOST PROFITABLE REAL ESTATE COMPANIES IN SPAIN

The aim of this study is the determination, from an empirical perspective, of the accounting and financial features which could condition financial profitability of real estate companies, to identify the performances that guarantee its permanency in the current marketplace, characterized by the world economic crisis, specially in Spain, whose housing sector represents an important contributor to the economic growth. Although at a theoretical level the DuPont Model establishes the relationships between a group of accounting ratios and financial profitability. This paper uses a sample of 5,484 Spanish real estate companies to quantify these relationships and to extract the most relevant ones and to obtain the patterns of the most profitable companies. We use ROE to measure profitability and we analyze various independent variables about solvency, liquidity, activity, turnover, financial equilibrium and investment structure. The main contribution is of methodological nature, as we have applied statistics tools that do not require initial hypotheses on the distribution of the variables, by using a data mining technique of classification and regression tree based on rule induction algorithms known as CHAID. The study provides quantitatively success profiles by means of a set of rules describing the patterns of the most profitable companies.CHAID; financial profitability; classification trees; accounting ratios; Spain.

Applying chaid to identify the accounting-financial characteristics of the most profitable real estate companies in Spain

The aim of this study is the determination, from an empirical perspective, of the accounting and financial features which could condition financial profitability of real estate companies, to identify the performances that guarantee its permanency in the current marketplace, characterized by the world economic crisis, specially in Spain, whose housing sector represents an important contributor to the economic growth. Although at a theoretical level the DuPont Model establishes the relationships between a group of accounting ratios and financial profitability. This paper uses a sample of 5,484 Spanish real estate com-panies to quantify these relationships and to extract the most relevant ones and to obtain the patterns of the most profitable companies. We use ROE to measure profitability and we analyze various independent variables about solvency, liquidity, activity, turnover, financial equilibrium and investment structure. The main contribution is of methodological nature, as we have applied statistics tools that do not require initial hypotheses on the distribution of the variables, by using a data mining technique of classification and regression tree based on rule induction algorithms known as CHAID. The study provides quantitatively success profiles by means of a set of rules describing the patterns of the most profitable companies.El objetivo de este estudio es la determinación, desde una perspectiva empírica, de las características económico-financieras que podrían condicionar la rentabilidad financiera de las empresas inmobiliarias, para identificar las actuaciones que garan-ticen su permanencia en el entorno actual, caracterizado por la crisis económica mundial, y especialmente, en España, cuyo sector inmobiliario supone una importante contribución al crecimiento económico. Aunque a nivel teórico, el Modelo Du-Pont establece las relaciones entre un conjunto de ratios contables y la rentabilidad financiera. Este trabajo usa una muestra de 5,484 empresas inmobiliarias españolas para cuantificar esas relaciones y para extraer las más relevantes, con el propósito de obtener los patrones de las empresas más rentables. Se utiliza el ROE para medir la rentabilidad financiera, y se analizan un conjunto de variables independientes relativas a solvencia, liquidez, actividad, rotaciones, equilibrio financiero y estructura económica. La principal contribución es de índole metodológica, ya que se aplican herramientas estadísticas que no requieren hipótesis iniciales sobre la distribución de las variables, aplicando una técnica de minería de datos de árboles de clasificación y regresión basada en algoritmos de inducción de reglas conocida como CHAID. El estudio ofrece cuantitativamente perfiles de éxito definidos con un conjunto de reglas que indican los patrones de las empresas más rentables

Metastable Resting State Brain Dynamics

Metastability refers to the fact that the state of a dynamical system spends a large amount of time in a restricted region of its available phase space before a transition takes place, bringing the system into another state from where it might recur into the previous one. beim Graben and Hutt (2013) suggested to use the recurrence plot (RP) technique introduced by Eckmann et al. (1987) for the segmentation of system's trajectories into metastable states using recurrence grammars. Here, we apply this recurrence structure analysis (RSA) for the first time to resting-state brain dynamics obtained from functional magnetic resonance imaging (fMRI). Brain regions are defined according to the brain hierarchical atlas (BHA) developed by Diez et al. (2015), and as a consequence, regions present high-connectivity in both structure (obtained from diffusion tensor imaging) and function (from the blood-level dependent-oxygenation—BOLD—signal). Remarkably, regions observed by Diez et al. were completely time-invariant. Here, in order to compare this static picture with the metastable systems dynamics obtained from the RSA segmentation, we determine the number of metastable states as a measure of complexity for all subjects and for region numbers varying from 3 to 100. We find RSA convergence toward an optimal segmentation of 40 metastable states for normalized BOLD signals, averaged over BHA modules. Next, we build a bistable dynamics at population level by pooling 30 subjects after Hausdorff clustering. In link with this finding, we reflect on the different modeling frameworks that can allow for such scenarios: heteroclinic dynamics, dynamics with riddled basins of attraction, multiple-timescale dynamics. Finally, we characterize the metastable states both functionally and structurally, using templates for resting state networks (RSNs) and the automated anatomical labeling (AAL) atlas, respectively.SR would like to acknowledge Ikerbasque (The Basque Foundation for Science) and moreover, this research is supported by the Basque Government through the BERC 2018-2021 program and by the Spanish State Research Agency through BCAM Severo Ochoa excellence accreditation SEV2017-0718 and through project RTI2018-093860-B- C21 funded by (AEI/FEDER, UE) and acronym MathNEURO. JC acknowledges financial support from Ikerbasque, Ministerio Economia, Industria y Competitividad (Spain) and FEDER (grant DPI2016-79874-R) and the Department of Economical Development and Infrastructure of the Basque Country (Elkartek Program, KK-2018/00032). Finally, PG acknowledges BCAM’s hospitality during a visiting fellowship in fall 2017

Emerging Technologies for Urban Traffic Management

Nowadays, the number of vehicles on the road and the need of transporting people grow fast. Road transportation has become the backbone of industrialized countries. Nevertheless, the road network system in cities is not sufficient to cope with the current demands due to the size of roads available. Building additional or extending existing roads do not solve the traffic congestion problem due to the high costs and the environmental and geographical limitations. As a consequence, the modern society is facing more traffic jams, higher fuel bills and high levels of CO2 emissions

Medición de la eficiencia del método datum para seleccionar tecnologías biomédicas

Objetivo Determinar la efectividad del método multicriterio Pugh para la selección de tecnologías biomédicas en el proceso de nuevas adquisiciones. Materiales y Métodos Se realizó un estudio de los métodos multicriterios de toma de decisión. El método seleccionado fue el método “Datum” o Pugh. Se realizó el cálculo y caracterización del tamaño de la muestra de los expertos que participarían en el ensayo. Se obtuvo una muestra de 23 expertos. Se realizó el ejercicio de selección de la tecnología de electrocardiografía, empleando el método de toma de decisión seleccionado. Resultados De las 46 pruebas realizadas el modelo más utilizado como referencia fue el modelo codificado como “3”. El modelo que más fue seleccionado como la “mejor opción” fue el equipo o modelo “5”. Conclusiones. El método Pugh resultó ser efectivo para la toma de decisión a la hora de seleccionar tecnologías biomédicas, pues en un 87 % de los casos siempre se obtuvo el mismo modelo de referencia como el óptimo

Medición de la eficiencia del método datum para seleccionar tecnologías biomédicas

Objetivo Determinar la efectividad del método multicriterio Pugh para la selección de tecnologías biomédicas en el proceso de nuevas adquisiciones. Materiales y Métodos Se realizó un estudio de los métodos multicriterios de toma de decisión. El método seleccionado fue el método “Datum” o Pugh. Se realizó el cálculo y caracterización del tamaño de la muestra de los expertos que participarían en el ensayo. Se obtuvo una muestra de 23 expertos. Se realizó el ejercicio de selección de la tecnología de electrocardiografía, empleando el método de toma de decisión seleccionado. Resultados De las 46 pruebas realizadas el modelo más utilizado como referencia fue el modelo codificado como “3”. El modelo que más fue seleccionado como la “mejor opción” fue el equipo o modelo “5”. Conclusiones. El método Pugh resultó ser efectivo para la toma de decisión a la hora de seleccionar tecnologías biomédicas, pues en un 87 % de los casos siempre se obtuvo el mismo modelo de referencia como el óptimo

A New Environmentally Safe Formulation and of Low Cost for Prolonged Release System of Atrazine and Diuron

Diuron and atrazine were incorporated in new formulations developed with the purpose to improve herbicides action through release systems, as well as to reduce the environmental toxicity. A low cost formulation (ALG/ESC) was obtained by combining sodium alginate (ALG) with fish scales of the Piau fish (ESC) from the Leporinus elongatus species. From the crosslinking of ALG/ESC with CaCl2, the formulation ALG/ESC-CaCl2 was obtained. For ALG/ESC-CaCl2, the results are successful, showing a prolonged release of 3.5 and 4.5 days for atrazine and diuron, respectively. Based on parameters of an empirical equation used to fit the herbicide release data, it appears that the release systems of diuron and atrazine from ALG/ESC-CaCl2 are by diffusion processes due to anomalous transport, which did not follow Fick’s laws of diffusion. DOI: http://dx.doi.org/10.17807/orbital.v9i3.99

Neurodegeneration trajectory in pediatric and adult/late DM1: A follow‐up MRI study across a decade

Objective: To characterize the progression of brain structural abnormalities in adults with pediatric and adult/late onset DM1, as well as to examine the potential predictive markers of such progression. Methods: 21 DM1 patients (pediatric onset: N = 9; adult/late onset: N = 12) and 18 healthy controls (HC) were assessed longitudinally over 9.17 years through brain MRI. Additionally, patients underwent neuropsychological, genetic, and muscular impairment assessment. Inter-group comparisons of total and voxel-level regional brain volume were conducted through Voxel Based Morphometry (VBM); cross-sectionally and longitudinally, analyzing the associations between brain changes and demographic, clinical, and cognitive outcomes. Results: The percentage of GM loss did not significantly differ in any of the groups compared with HC and when assessed independently, adult/late DM1 patients and their HC group suffered a significant loss in WM volume. Regional VBM analyses revealed subcortical GM damage in both DM1 groups, evolving to frontal regions in the pediatric onset patients. Muscular impairment and the outcomes of certain neuropsychological tests were significantly associated with follow-up GM damage, while visuoconstruction, attention, and executive function tests showed sensitivity to WM degeneration over time. Interpretation: Distinct patterns of brain atrophy and its progression over time in pediatric and adult/late onset DM1 patients are suggested. Results indicate a possible neurodevelopmental origin of the brain abnormalities in DM1, along with the possible existence of an additional neurodegenerative process. Fronto-subcortical networks appear to be involved in the disease progression at young adulthood in pediatric onset DM1 patients. The involvement of a multimodal integration network in DM1 is discussed.CIBERNED609 Eusko JaurlaritzaPRE_ 2016_1_0187PRE_2019_1_0070SAIO08- PE08BF01 Institute of Health Carlos III cofounded by Fondo Europeo de Desarrollo Regional-FEDERPI17/01231 PI17/0184