Suchergebnisse

Governments are implementing massive stimulus fiscal packages to mitigate the economic crisis caused by the coronavirus disease. If policymakers want to stimulate the economy through renewable energy investments, policies must focus on financing as the key priority. This is the lesson we draw from the Spanish wind farms in the past financial crisis. Using an economic approach to the drivers of external finance within the backdrop of Spanish windfarms, this work employs a dataset of 318 projects commissioned throughout 2006–2013. The main conclusion from this study is that the financial crisis of 2008 changed the behaviour of Spanish financial institutions towards renewable projects. The pre-crisis period was a time when costly ventures were prone to a higher debt leverage. Post-crisis times, however, punished these types of projects by curbing their access to financial resources. ; Financiado para publicación en acceso aberto: Universidade de Vigo/CISUG ; Agencia Estatal de Investigación | Ref. RTI2018-093365-B-I00

Financiado para publicación en acceso aberto: Universidade de Vigo/CISUG ; Governments are implementing massive stimulus fiscal packages to mitigate the economic crisis caused by the coronavirus disease. If policymakers want to stimulate the economy through renewable energy investments, policies must focus on financing as the key priority. This is the lesson we draw from the Spanish wind farms in the past financial crisis. Using an economic approach to the drivers of external finance within the backdrop of Spanish windfarms, this work employs a dataset of 318 projects commissioned throughout 2006–2013. The main conclusion from this study is that the financial crisis of 2008 changed the behaviour of Spanish financial institutions towards renewable projects. The pre-crisis period was a time when costly ventures were prone to a higher debt leverage. Post-crisis times, however, punished these types of projects by curbing their access to financial resources. ; Agencia Estatal de Investigación | Ref. RTI2018-093365-B-I00

Background: Spain has gone from a surplus to a shortage of medical doctors in very few years. Medium and long-term planning for health professionals has become a high priority for health authorities. Methods: We created a supply and demand/need simulation model for 43 medical specialties using system dynamics. The model includes demographic, education and labour market variables. Several scenarios were defined. Variables controllable by health planners can be set as parameters to simulate different scenarios. The model calculates the supply and the deficit or surplus. Experts set the ratio of specialists needed per 1000 inhabitants with a Delphi method. Results: In the scenario of the baseline model with moderate population growth, the deficit of medical specialists will grow from 2% at present (2800 specialists) to 14.3% in 2025 (almost 21 000). The specialties with the greatest medium-term shortages are Anesthesiology, Orthopedic and Traumatic Surgery, Pediatric Surgery, Plastic Aesthetic and Reparatory Surgery, Family and Community Medicine, Pediatrics, Radiology, and Urology. Conclusions: The model suggests the need to increase the number of students admitted to medical school. Training itineraries should be redesigned to facilitate mobility among specialties. In the meantime, the need to make more flexible the supply in the short term is being filled by the immigration of physicians from new members of the European Union and from Latin America. ; Peer Reviewed

The goal of this research is to theoretically integrate the CE paradigm within the environmental sustainability framework. Based on the shortcomings detected in the circular economy literature, we followed a three steps procedure. Firstly, we conducted a narrative literature review that underlies the need of understanding the circular economy as a resilient, sustainable and circular economy, and we identified twelve principles to operationalize the circular economy under the environmental sustainability paradigm. Secondly, we created a database containing information on twenty-six strategies of circular economy. Thirdly, we analyzed the data to assess how the principles explored in phase 1 are being considered by the current circular economy strategies. Results revealed a high variability of approaches performed by the governments to reach the circular economy. Moreover, strategies grouped into the resilience domain are barely incorporated into circular economy strategies, and hence some circular economy strategies reveal shortcomings in their capacity to generate real changes. Further research is needed to perform a more holistic analysis based on complex adaptative system thinking, which would allow connecting more essential elements to enhance a socially fair development that preserves the environment. ; Financiado para publicación en acceso aberto: Universidade de Vigo/CISUG ; Xunta de Galicia | Ref. ED481A-2017/325

Financiado para publicación en acceso aberto: Universidade de Vigo/CISUG ; The goal of this research is to theoretically integrate the CE paradigm within the environmental sustainability framework. Based on the shortcomings detected in the circular economy literature, we followed a three steps procedure. Firstly, we conducted a narrative literature review that underlies the need of understanding the circular economy as a resilient, sustainable and circular economy, and we identified twelve principles to operationalize the circular economy under the environmental sustainability paradigm. Secondly, we created a database containing information on twenty-six strategies of circular economy. Thirdly, we analyzed the data to assess how the principles explored in phase 1 are being considered by the current circular economy strategies. Results revealed a high variability of approaches performed by the governments to reach the circular economy. Moreover, strategies grouped into the resilience domain are barely incorporated into circular economy strategies, and hence some circular economy strategies reveal shortcomings in their capacity to generate real changes. Further research is needed to perform a more holistic analysis based on complex adaptative system thinking, which would allow connecting more essential elements to enhance a socially fair development that preserves the environment. ; Xunta de Galicia | Ref. ED481A-2017/325

Máster Universitario en Finanzas ; En el presente estudio se efectuará un análisis detallado del nuevo tratamiento dado a la liquidez dentro del marco de los denominados Acuerdos de Basilea III, formulados por el Comité de Supervisión Bancaria de Basilea en 2010 y traspuesto al marco europeo a través del Consejo y el Parlamento Europeos en junio de 2013 (Reglamento (UE) nº575/2013 del Parlamento Europeo y del Consejo). Estos Acuerdos, comienzan por una visión de las causas que llevaron a la implementación de dichas reformas y las consecuencias estructurales que supondrán dichas modificaciones para las entidades financieras tras comprobarse que no estaban debidamente preparadas para una crisis de liquidez en el sistema. Resulta imprescindible el papel del Banco Central Europeo (BCE) en torno a los niveles de liquidez en la Unión Europea. Para evitar problemas de iliquidez en las entidades financieras europeas, existen por un lado los mecanismos habituales de financiación como son el Mercado Interbancario y el Euromercado. Por otro lado, se deben tener en cuenta las políticas monetarias desarrolladas, las cuales modifican de forma sustancial los costes de financiación soportados por las entidades que acuden a los mercados anteriormente mencionados. Finalmente, resultan fundamentales mecanismos de supervisión que evalúen los niveles de solvencia de las distintas entidades y que corroboren el cumplimiento de los Acuerdos alcanzados. La herramienta principal de supervisión es el denominado Test de Estrés de Liquidez, el cual sitúa a los principales bancos, tanto europeos como mundiales, en distintos escenarios para conocer sus niveles reales de liquidez. Así pues, los Acuerdos de Basilea III proponen la introducción de nuevas reglas para incorporar las lecciones aprendidas durante la crisis y recuperar la confianza entre las instituciones financieras y los clientes con el objetivo de crear un sistema financiero más estable en el largo plazo. ; In this final project will be carried out a detailed analysis about that which pertains to liquidity within the framework of the so-called Basel III Accords, formulated by the Basel Committee on Banking Supervision in 2010 and adapted by the European Council and the European Parliament in June 2013 (Regulation (EU) No. 575/2013 of the European Parliament and the Council). Such agreements begin with an overview of the causes that led to the implementation of these reforms and the structural consequences which will involve such changes for financial institutions after finding they were not properly prepared for a liquidity crisis in the system. It is essential the ECB's role regarding liquidity levels in the European Union. To avoid liquidity problems in the European financial institutions, on the one hand there are the usual funding mechanisms such as the Interbank Market and the Euromarket. On the other hand, it must be taken into account the developed monetary policies, which substantially alter the financing costs borne by entities attending the above-mentioned markets. Finally, monitoring mechanisms are essential to assess the solvency levels of the various entities and to substantiate compliance with the agreements reached. The main monitoring tool is the so-called Liquidity Stress Test, which puts major banks, both European and global, in different scenarios to find out their actual levels of liquidity. Thus, the Basel III Accords propose the introduction of new rules to incorporate the lessons learned during the crisis and restore confidence between financial institutions and clients with the goal of creating a more stable financial system in the long term.

Documento de Trabajo 02/09 perteneciente a la colección de documentos de trabajo "Nuevas Tendencias en Dirección de Empresas", dentro del Máster en Investigación en Economía y Empresa. ; [ES]Este artículo propone un modelo exploratorio con el objetivo de identificar las condiciones que deben crearse en una empresa, para llegar a tener éxito en el desarrollo de sus nuevos productos. Apoyándonos en la revisión de la literatura y en el marco teórico, pergeñamos el modelo y postulamos sus siete hipótesis, que pueden resumirse en esta hipótesis general: "el éxito empresarial en el desarrollo de un nuevo producto, dependerá de la intensidad con que confluyan estas siete condiciones: 1) Talento para explotar; 2) Libertad para aportar; 3) Rigor para priorizar; 4) Democracia para idear; 5) Estructura para responsabilizar; 6) Justicia para recompensar; y 7) Capacidad para concretar. En la parte empírica, estudiamos el caso de una Caja de Ahorros española, a través de 74 productos desarrollados en los últimos siete años. El modelo obtiene respaldo a sus siete hipótesis y los resultados obtenidos permiten extraer algunas conclusiones que consideramos de gran interés para académicos y gestores. ; [EN]This paper proposes an exploratory model in order to identify the conditions that must be created within a company to get success in developing new products. Building on the review of the literature and theoretical framework, crafted the model and postulate seven scenarios, which can be summarized in this general hypothesis: "business success in developing a new product depends on the intensity with which these converge seven conditions: 1) Talent to explode, 2) Freedom to provide, 3) Rigor to prioritize, 4) to devise Democracy, 5) structure to hold, 6) Justice for reward, and 7) the ability to achieve. In the empirical part, we study the case of Spanish Savings Bank, through 74 products developed in the last seven years. The model gets back to his seven hypotheses and the results obtained allow some conclusions that we consider of great interest to academics and managers.

En este artículo se analiza la constitución y evolución de la Confederación Hidrográfica del Ebro. Este hecho se enmarca en el contexto de la política hidráulica de oferta, predominante en la España de la Restauración y años posteriores. En efecto, la política de construcción de grandes presas tiene su raíz en las políticas reformistas impulsadas por los gobiernos de las Restauración desde principios del siglo XX; asimismo, la gestión supuso la creación de instituciones responsables, proceso que en el caso de la cuenca Ebro se concretó en la Confederación, entidad de índole corporativa que integraba a los usuarios del agua de este río. In this article is analysed the constitution and evolution of the Hydrographic Confederation of The River Ebro. This fact is in the line with a hydraulic policy of offer that was predominant in Spain within the Restoration and in the subsequent years. In this way, the construction of big reservoirs policy has its root on reformists politics boosted by the Restoration governments since the beginnings of 20th century; likewise, the management involved the creation of responsible institutions, and this was a process that in the case of the River Ebro basin meant the Confederation, an entity of corporate nature which drew together the water users of this river.

En este artículo se analiza la constitución y evolución de la Confederación Hidrográfica del Ebro. Este hecho se enmarca en el contexto de la política hidráulica de oferta, predominante en la España de la Restauración y años posteriores. En efecto, la política de construcción de grandes presas tiene su raíz en las políticas reformistas impulsadas por los gobiernos de las Restauración desde principios del siglo XX; asimismo, la gestión supuso la creación de instituciones responsables, proceso que en el caso de la cuenca Ebro se concretó en la Confederación, entidad de índole corporativa que integraba a los usuarios del agua de este río. In this article is analysed the constitution and evolution of the Hydrographic Confederation of The River Ebro. This fact is in the line with a hydraulic policy of offer that was predominant in Spain within the Restoration and in the subsequent years. In this way, the construction of big reservoirs policy has its root on reformists politics boosted by the Restoration governments since the beginnings of 20th century; likewise, the management involved the creation of responsible institutions, and this was a process that in the case of the River Ebro basin meant the Confederation, an entity of corporate nature which drew together the water users of this river.