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 regulation 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, ownership, 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 conservatism 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

Estructura territorial y relaciones funcionales en el Corredor del Henares: una aproximación desde la movilidad diaria de la población

«Territorial structure and functional relations in the Henares Corridor: an approach from the daily population mobility». This article attempts to study the recent evolution of the population daily mobility with the goal of identifying the possible changes in the dependence relations of Henares Corridor with regard to the capital of Madrid, as well as recognizing the possible configuration of a functional sub-region between the municipalities. We began with the hypothesis that the recent organization of residential and productive spaces —specially manifesting in the outskirt of the metropolitan area of Madrid— has affected such relations. For this study we part from the information provided by the Domiciliary Mobility Surveys done by the Regional Transport Consortium of Madrid in 1988 and 1996.En este artículo se pretende estudiar la evolución reciente de la movilidad diaria de la población con el fin de identificar los posibles cambios en las relaciones de dependencia del Corredor del Henares respecto a Madrid capital, y también reconocer la posible configuración de una subregión funcional entre los municipios que lo componen. Se parte de la hipótesis de que los recientes procesos de reorganización de los espacios residenciales y productivos, especialmente manifiestos en las periferias del área metropolitana de Madrid, han afectado a dichas relaciones. El estudio se basa en la información proporcionada por las Encuestas Domiciliarias de Movilidad realizadas por el Consorcio Regional de Transportes de Madrid en 1988 y 1996

Redox Reactions in the Physiopathology of the Liver

Electron fluxes are constant within cellular metabolism. Donating or accepting electrons, either naked or as hydrogen atoms, is one of the most important properties of bioenergetic networks. These redox reactions fulfill key physiological phenomena such as cellular growing, phenotypic differentiation, nutritional adaptations and redox‐dependent cellular signaling, but when they became unregulated, serious pathologies such as degenerative diseases and metabolic disorders arise. The liver being an important metabolic organ, redox reactions play a strategic role in its main functions: processing of nutrients, fasting response, xenobiotic managing and circadian activity. However, liver is also very sensitive to compounds that disturb redox state such as ethanol, CCl4, aflatoxins, among others, as well as to stressors such as hypercaloric diets, endocrine disruptors and stressful life situations. This chapter reviews concepts related to redox reactions in the liver, including metabolic aspects of reactive oxygen species (ROS), prooxidant and antioxidant subcellular systems, alterations produced by hepatotoxins, adaptations to experimental surgical protocols such as portacaval anastomosis, and participation in cancer. It is out of question that for a better comprehension of the physiopathological events in the liver and other metabolic organs, the more complete understanding of the roles played by redox reactions will be a necessity

Order of maturation of the components of the working memory from childhood to emerging adulthood

The objective of this paper was to analyze the maturation order of WM components Phonological loop (PL), Visuo-spatial Sketchpad (VSS) and Central executive (CE), from childhood to emerging adulthood in subjects aged between 6 and 29 years, by means of Bonferroni comparisons between the direct scores of the different age groups. The WM direct scores were obtained with the Working Memory Test Battery for Children (WMTBC). Linear regressions between age and Z-scores of the direct scores of the three components of the WM were carried out. The results indicate that the different components of WM are linearly related to age, from 6 to 15 years old, replicating previously obtained results. ANOVA and Bonferroni-type comparisons show that there is a different order of maturation among the components that make up the WM, with the central executive being the component that matures later. A peculiar result was observed in the 16–17-year group for PL and CE. This group presents a significant difference with all the groups of lower age

Revista complutense de educación

Resumen basado en el de la publicaciónLa investigación sobre clima institucional en universidades ha dado ya algunos frutos importantes, a pesar de los obstáculos teóricos y metodológicos con los que se ha encontrado a lo largo del desarrollo. El clima, como variable de proceso educativo que ha surgido de la investigación sobre eficacia institucional, se ha estudiado de diversos modos, que las autoras han agrupado en tres grandes enfoques: estudio de los posibles condicionantes del ambiente en un centro de educación superior; utilidad del constructo para caracterizar universidades, y relación del clima con diversas variables de producto educativo. Se aportan algunas consideraciones que han de contemplarse para superar las limitaciones que la línea de investigación en que se inscribe ha tenido durante los treinta años de historia.ES

Carbon Footprint of an Extensively Raised, Low-Productivity Sheep Population

Extensive traditional livestock systems currently face various threats, leading to their disappearance. An example of these extensive livestock farming systems is the production of the Lojena sheep breed in the Sierra de Loja (Granada, Spain), with a census of 24,511 ewes in 2021. The aim of this work is to calculate the carbon footprint (CF) of this local breed in this region. This study is based on data collected from 27 Lojena sheep farms producing weaned lambs (≤14 kg, 25 farms), fattened lambs (≈25 kg, 7 farms), culled animals (24 farms) and greasy wool (27 farms). Most of these farms (78%) were organically (ORG) certified and seven were conventionally (CONV) managed. The analysed farms represent 93% of the total number of farms producing Lojena sheep in the Sierra de Loja. The CF was calculated with a “cradle to farm gate” approach. The average C footprints were 27.5 } 6.8 kg CO2eq kgLW −1 for weaned lambs, 21.8 } 8.5 kg CO2eq kgLW −1 for fattened lambs, 4.1 } 2.6 kg CO2eq kgLW −1 for culled animals and 2.2 } 0.6 kg CO2eq kg−1 for greasy wool, with a not statistically different average CF in ORG than in CONV farms. Enteric fermentation represents the main source of emissions (>60%) in all the products, and external feeding (including transport, and emissions from producing the feed) represents the second one (>10%). There was an inverse relationship between CF and productivity (lambs sold ewe−1 year−1), leading to lower footprints on those farms with the higher productivity. A direct relationship between CF and stocking rate (livestock units ha−1) has been identified

LOS NUEVOS MOVIMIENTOS RELIGIOSOS ANTE LA LEY Y LA JURISPRUDENCIA. (COMENTARIO A LA SENTENCIA DEL TRIBUNAL CONSTITUCIONAL 46/2001, DE 15 DE FEBRERO).

Uno de los temas más interesantes y de más candente actualidad en el Derecho eclesiástico es la aparición y progresiva expansión de unos movimientos religiosos ajenos a la cultura y tradición judeo-cristiana de los países occidentales. Son diversas las causas de la irrupción de estos nuevos grupos religiosos. (...

Sampling Frequency Evaluation on Recurrent Neural Networks Architectures for IoT Real-time Fall Detection Devices

Falls are one of the most frequent causes of injuries in elderly people. Wearable Fall Detection Systems provided a ubiquitous tool for monitoring and alert when these events happen. Recurrent Neural Networks (RNN) are algorithms that demonstrates a great accuracy in some problems analyzing sequential inputs, such as temporal signal values. However, their computational complexity are an obstacle for the implementation in IoT devices. This work shows a performance analysis of a set of RNN architectures when trained with data obtained using different sampling frequencies. These architectures were trained to detect both fall and fall hazards by using accelerometers and were tested with 10-fold cross validation, using the F1-score metric. The results obtained show that sampling with a frequency of 25Hz does not affect the effectiveness, based on the F1-score, which implies a substantial increase in the performance in terms of computational cost. The architectures with two RNN layers and without a first dense layer had slightly better results than the smallest architectures. In future works, the best architectures obtained will be integrated in an IoT solution to determine the effectiveness empirically.Ministerio de Economía y Competitividad TEC2016-77785-