Suchergebnisse

[ES] Este artículo presenta una serie de reflexiones acerca del papel que debe desempeñar en la actualidad el profesor universitario. En principio, se supone que esta actividad debe girar en torno a tres pilares: docencia, investigación y transferencia. No obstante, tras el análisis de la legislación vigente se evidencia el peso predominante que el Legislador otorga al papel investigador, lo que redunda necesariamente en un abandono de los otros dos pilares. También queda patente que sólo se valora aquella actividad que tenga como resultado la publicación en ciertas revistas indexadas en el Journal Citation Report, lo que sugiere que la labor del profesor universitario español debe ir destinada a mejorar la posición de las universidades nacionales en el denominado ranking de Shanghai. ; [EN] This paper introduces a number of reflection on the role to be performed in present time by university lecturers. In principle, it is supposed that this activity should be related with three pillars: teaching, research, and technology transfer. Nevertheless, following the analysis of the current legislation, it is made obvious that the legislation gives the researching task a predominant weight. This decision has necessarily a negative impact on the time devoted to the other two university tasks. It is also made evident that only that activity will be valued that achieves as a result the publication of a paper in a journal included in the Journal Citation Report. This fact suggests that the aim of the work and efforts of university lecturers in Spain is to improve the position of the Spanish Universities in the so-­called Shanghai ranking. ; García García, F. (2016). El papel del profesor universitario en España. ¿Se pondera igual la actividad docente, la investigadora y la de transferencia?. Finance, Markets and Valuation. 2(1):61-70. http://hdl.handle.net/10251/99163 ; S ; 61 ; 70 ; 2 ; 1

A través de la creación de una serie de elementos audiovisuales para su proyección como video mapping arquitectónico en una comunidad purépecha, aquí se presenta un estudio de caso en el que la antropología y el diseño participativo se conjuntan para buscar un tipo de diálogo distinto al que comúnmente se da entre artesanos y diseñadores en México. El corte de la investigación es cualitativo y los resultados obtenidos provienen principalmente del trabajo con y para los niños, aunque en el proceso participan directa o indirectamente otros sectores de la población. Se concluye que el trabajo de campo prolongado es un factor importante para la generación de proyectos que busquen horizontalidad en la toma de decisiones; y mediante el diseño participativo se obtiene conocimiento antropológico al cual sería imposible acceder de otra manera.

[ES] En numerosas ocasiones las metodologías de valoración usualmente empleadas presentan dificultades en su aplicación a la valoración de empresas, bien porque el valorador no dispone de suficientes datos para utilizar los métodos comparativos tradicionales, bien por la dificultad de estimar los flujos de caja futuros con objetividad. Ante esta problemática, el presente trabajo propone una alternativa que combina el método multicriterio CRITIC con el Ratio de Valoración de las Normas Internacionales de Valuación. La nueva metodología se inserta dentro de los métodos comparativos o de enfoque de mercado y requiere únicamente disponer de un número reducido de empresas comparables. En este trabajo se ha aplicado a la valoración de una caja de ahorros. La valoración de este tipo de instituciones financieras, por la situación actual del sector, es un cometido de gran interés y constituye además un ejemplo muy ilustrativo para mostrar las fortalezas de la metodología propuesta. ; [EN] In several occasions the traditional valuation methodologies present difficulties in their application to the companies' valuation, either due to valuator¿s lack of enough data to use in the traditional comparative methods, or due to the difficulty when estimating the future cash-flows with objectivity. In this situation, the present study suggests an alternative which combines the CRITIC multicriteria methodology with the Valuation Ratio of the International Standards of Valuation. The new methodology is included in the comparative or market approach methods and it only requires having at its disposal a small number of comparable companies. In this work this methodology is applied to get the value of a savings bank. The valuation of this kind of financial institutions, due to the current situation of the sector, implies a task of great interest and it also constitutes a very illustrative example to show the strengths of the proposed methodology. ; Aznar Bellver, J.; Cervelló Royo, RE.; García García, F. (2011). Una alternativa ...

As the result of the current international financial crisis and due to Basel II and Basel III Capital Accords, the Spanish financial system is undergoing profound changes. Among the most significant changes are the mergers of savings banks and their future transformation into private capital banks. Therefore, determining the value of these financial companies and their share prices is of great interest for different economic agents. This paper presents the application of a multicriteria method called CRITIC, combined with the valuation ratio, which together compose a valuation model. This new approach can overcome some of the problems faced by the traditional valuation methods since it calculates the value of a company by comparing with similar companies whose value is known. The comparison is made using criteria or variables which are indicative of the value of these types of companies. A case study is presented in which the combined methodology is applied to the valuation of a particular Spanish savings bank. ; Aznar Bellver, J.; Cervelló Royo, RE.; García García, F. (2011). Spanish Savings Banks and their Future Transformation into Private Capital Banks. Determining their Value by a Multicriteria Valuation Methodology. European Journal of Economics, Finance and Administrative Sciences. 35:156-164. http://hdl.handle.net/10251/35857 ; S ; 156 ; 164 ; 35

11 9 ; S ; [EN] We propose a multi-objective approach for portfolio selection, which allows investors to consider not only return and downside risk criteria but also to include environmental, social and governance (ESG) scores in the investment decision-making process. Owing to the uncertain environment of portfolio selection, the return and ESG score of each asset are considered as independent L-R power fuzzy variables. To make the model more realistic, we take budget, floor ceiling and cardinality constraints into account. In order to select the optimal portfolio along the efficient frontier, we apply the Sortino ratio in a credibilistic environment. The subsequent empirical application uses a data set from Bloomberg's ESG Data in combination with US Dow Jones Industrial Average data. The experimental results show that the proposed model offers promising results for socially responsible investors seeking ethical and sustainability goals beyond the return-risk trade-off and its ability to beat the benchmark García García, F.; Gonzalez-Bueno, J.; Oliver-Muncharaz, J.; Riley, N. (2019). Selecting socially responsible portfolios: A fuzzy multicriteria approach. Sustainability. 11(9). https://doi.org/10.3390/su11092496 Ballestero, E., Pérez-Gladish, B., & Garcia-Bernabeu, A. (2014). The Ethical Financial Question and the MCDM Framework. International Series in Operations Research & Management Science, 3-22. doi:10.1007/978-3-319-11836-9_1 Zopounidis, C., & Doumpos, M. (2002). Multicriteria classification and sorting methods: A literature review. European Journal of Operational Research, 138(2), 229-246. doi:10.1016/s0377-2217(01)00243-0 ARRIBAS, I., GARCÍA, F., GUIJARRO, F., OLIVER, J., & TAMOŠIŪNIENĖ, R. (2016). MASS APPRAISAL OF RESIDENTIAL REAL ESTATE USING MULTILEVEL MODELLING. International Journal of Strategic Property Management, 20(1), 77-87. doi:10.3846/1648715x.2015.1134702 García, F., Guijarro, F., Oliver, J., & Tamošiūnienė, R. (2018). HYBRID FUZZY NEURAL NETWORK TO PREDICT PRICE ...

2nd INTERNATIONAL SCIENTIFIC CONFERENCE WHITHER OUR ECONOMIES – 2012 Conference Proceedings ; The Spanish economy is suffering a severe financial crisis which is affecting all Spanish savings banks as well as some major banks. One of the triggers of the crisis is the high companies' default rate experienced in the last years due to a deficient credit risk management by financial institutions. Credit risk analysis is mainly undertaken using the logit model to calculate the probability of default of the companies. In this work we describe some problems that arise when using this model and that can have a negative impact on the quality of the results obtained. ; Bartual Sanfeliu, C.; García García, F.; Guijarro, F.; Romero Civera, A. (2012). Probability of deafault using the logit model: The impact of explanatory variable and data base selection. International Scientific Conference: Whither our Economics. 118-124. http://hdl.handle.net/10251/61415 ; S ; 118 ; 124

[EN] The impressive growth of the funds managed following socially responsible investment strategies is a phenomenon that has been analysed from different perspectives. One of the main factors determining such investment strategies, maybe the most important one, is the selection of socially responsable companies, that is, the differentiation between socially responsible and irresponsible companies. Generally, the selection process is performed applying negative screening or positive screening strategies. Negative screening considers irresponsible companies those involved in the production of weapons or alcoholic beverages, following religious criteria. The positive screening approach is much more complex and less transparent. Both methodologies have been critizied as they do not prevent companies performing a clearly irresponsible behaviour to be included in the socially responsable portfolio. Moreover, it is important to stress that the opinion of retail investors is not considered when defining the concept of "socially responsible company", that is, the opinion of the potential clients of the socially responsible financial products. In this paper we are interested in the opinion of these potential clients regarding negative screening criteria, because we exclude the possibility of retail investors applying complex positive screening approaches. Our results show that compliance with the legislation is a main criterion for potential retail investors. This is an important outcome, as legal compliance is actually not a necessary requisite and non-complying companies are usually included in socially responsible financial products. Regarding negative screening based on the activity sector of the companies, results are more controversial. ; Arribas, I.; Espinós-Vañó, MD.; García García, F.; Oliver-Muncharaz, J. (2019). Defining socially responsible companies according to retail investors' preferences. Enterpreneurship and Sustainability Issues. 7(2):1641-1653. https://doi.org/10.9770/jesi.2019.7.2(59) ; S ; 1641 ...

Licencia Creative Commons: Attribution-NonCommercial 3.0 Unported (CC BY-NC 3.0) ; In the field of credit risk management, the calculation of the probability of default of companies plays a key role. For that reason, bankruptcy prediction of companies has generated extensive research in the past decades. This paper applies one of the most popular techniques, the logistic regression. This technique is extensively used both by professionals and academics and is employed in many studies as a benchmark. Here we will apply it on a vast data base of the Spanish companies and a statistical analysis of the robustness of the model will be undertaken, with very satisfactory results. ; Bartual Sanfeliu, C.; García García, F.; Guijarro Martínez, F.; Moya Clemente, I. (2013). Default prediction of Spanish companies. A logistic analysis. Intellectual economics. 7(3):333-343. doi:10.13165/IE-13-7-3-05 ; S ; 333 ; 343 ; 7 ; 3

Creative Commons Attribution License (CCAL). Attribution 2.5 Generic (CC BY 2.5) ; The present economic and financial crisis has underlined the importance to financial institutions and investors of having access to efficient methods of quantifying credit risk, or the probability of default. The logit models are among the techniques commonly used by large organizations and rating agencies for predicting insolvency. However, it should be borne in mind that some problems arise when using these models, such as the selection of the explanatory variables or the composition of the sample from which the model is obtained. These aspects have a decisive influence on the prediction models used to quantify companies' credit risk. The present study describes the problems that arise with logit on a sample of Spanish companies and shows that the estimated prediction models are indeed modified by changes in the sample on which they are based. ; Bartual Sanfeliu, C.; García García, F.; Giménez Molina, V.; Romero Civera, A. (2012). Credit Risk Analysis: Reflections on the Use of the Logit Model. Journal of Applied Finance & Banking. 2(6):1-13. http://hdl.handle.net/10251/60119 ; S ; 1 ; 13 ; 2 ; 6

Authors contributing to Business Systems & Economics agree to publish their articles, allowing third parties to share their work (copy, distribute, transmit) and to adapt it, under the condition that the authors are given credit. Authors retain copyright of their work, with publication rights granted to Mykolas Romeris University ; The financial crisis that started in 2008 has had a major impact on the Spanish financial system, including the co-operative banking sector. Among the restructuring measures being considered for the industry, one option is to create larger co-operative banking groups, employing different formulas. Given this context, it is interesting to compare the success achieved by the main European cooperative banking groups, which must surely serve as rolemodels for the Spanish process. The present study makes this comparison both from the usual economic and financial perspective and by taking the traditional cooperative style of management into account. The methodology used is the Analytic Hierarchy Process (AHP), enabling the use of both quantitative and qualitative information, as well as the opinions of experts. ; Aznar Bellver, J.; Bartual Sanfeliu, C.; García García, F.; Romero Civera, A. (2012). Optional models for strengthening the Spanish co-operative banking sector. Business Systems & Economics. 2(2):1-18. http://hdl.handle.net/10251/60120 ; S ; 1 ; 18 ; 2 ; 2