Search results for "Finance"
showing 10 items of 4676 documents
La movilización ciudadana para la conservación de la naturaleza: democracia, autonomía y áreas protegidas
2023
El presente artículo profundiza en el papel que tuvieron los movimientos sociales en la configuración de la política conservacionista de las décadas de los 70, 80 y 90 en los territorios de Catalunya, Comunitat Valenciana y Andalucía. A través de una investigación cualitativa basada en entrevistas en profundidad y en el análisis documental, abordamos desde una perspectiva comparada cómo la movilización ciudadana y el asociacionismo científico y académico influyeron en la declaración de los primeros parques naturales a través del apoyo o el rechazo a las iniciativas de conservación.
Long-term ecology of investors in a financial market
2018
AbstractThe cornerstone of modern finance is the efficient market hypothesis. Under this hypothesis all information available about a financial asset is immediately incorporated into its price dynamics by fully rational investors. In contrast to this hypothesis many studies have pointed out behavioral biases in investors. Recently it has become possible to access databases that track the trading decisions of investors. Studies of such databases have shown that investors acting in a financial market are highly heterogeneous among them, and that heterogeneity is a common characteristic of many financial markets. The article describes an empirical study of the daily trading decisions of all Fi…
The fall and the fragmentation of national clusters: Cluster evolution in the paper and pulp industry
2012
Abstract A common expectation in evolutionary cluster studies is that national clusters engage in competitive interactions that lead to a continuous stream of changes in global dominance. Our fuzzy-set analysis on the evolution of the paper and pulp industry demonstrates that globalization has dramatically changed this situation. National clusters have largely faded away; the value chain dominance is now held by technology suppliers who are global hubs in majority of identifiable business activities in the focal industry. Our results imply that when industrial decline is accentuated by industrial concentration in some part of the value chain the national clusters may lose their importance.
Consumers' perceptions of sustainably produced food: a focus group study
2009
The purpose of this study is to provide information on consumers' perceptions of sustainably produced food products and the main product attributes that influence consumers' buying behaviour in the case of organic, Fair Trade and locally produced food. The paper draws on data from four focus groups. The results provide empirical insight into the motivating as well as the restricting factors that influence consumers' purchasing behaviour in the case of sustainably produced food and introduce the emerging key themes associated with the attributes of sustainably produced food products.
Gestión eficiente de carteras: Modelo de Markowitz y el Ibex-35
2019
El objetivo de este trabajo es construir con el máximo detalle posible una frontera eficiente de acuerdo al modelo de Harry Markowitz, conocer con profundidad el modelo y comparar sus resultados con diversos índices bursátiles para analizar el efecto que tiene una diversificación eficiente sobre el rendimiento y el riesgo de una cartera. Para ello nos basaremos en datos históricos del IBEX-35 a los que aplicaremos el modelo con ayuda de distintos programas informáticos de optimización. Veremos cómo realmente sí que es posible crear carteras con menor volatilidad que los títulos que forman el mercado, como es posible que títulos con rendimientos esperados negativos formen parte de carteras e…
Factor Momentum, Investor Sentiment, and Option-Implied Volatility-Scaling
2020
Factor momentum produces robust average returns that exhibit a similar economic magnitude as documented for stock price momentum. To the extent that the PEAD factor captures mispricing, winner factors profit from being long on underpriced stocks and short on overpriced stocks. Oppositely, loser factors’ negative exposure to the PEAD factor suggests that loser factors capture mispricing by being long on overpriced stocks and short on underpriced stocks. Option-implied volatility scaling increases both the economic magnitude and statistical significance of factor momentum. Factor momentum is not exposed to the same crashes as stock price momentum and could therefore serve as a hedge for stock…
Facultat d´Economia
2008
La Universitat de València t'obri les seues portes. En les seues Facultats i Escoles Universitàries descobriràs una àmplia oferta d'estudis, equipament docent d'última tecnologia, instal·lacions esportives i culturals i una completa xarxa de biblioteques. Tot el que necessites per a accedir a una formació integral que garantisca el teu futur professional.
Fiscal Policy Responsiveness, Persistence and Discretion
2008
This paper analyzes the different characteristics of fiscal policy using a two-step estimation procedure. First, we decompose both government spending and government revenue into three components: responsiveness, persistence and discretion. Second, we assess the determinants of these characteristics. Using data from 132 countries, our results show that fiscal policy is more persistent than responsive to economic conditions, which implies that the authorities may have less leeway in the short-run notably to curb spending behavior. In addition, countries characterized by greater fiscal persistence have less discretion and responsiveness. Finally, macroeconomic, institutional and geographic va…
EARLY DEVELOPMENT ECONOMICS DEBATES REVISITED
2007
Development economics in its early years created the image of a fierce fight between advocates of contrasting theories or approaches—“balanced growth” vs. “unbalanced growth,” or “program loans” vs. “project loans.” This view has the merit of highlighting such conflicts in great detail; yet, it fails to take into account the reality of development economics as it was practiced in the field. This paper reassesses these old conflicts by complementing the traditional focus on theoretical debates with an emphasis on the practice of development economics.A particularly interesting example is the debate between Albert Hirschman, one of the fathers of the “unbalanced growth” approach, and Lauchlin…
Women’s Approach to Economics and Firms
2011
Women and works by female economists appeared in the economic literature of the Classical and Neoclassical periods. While a portion of such literature popularized the approaches of male economists, others part criticized some established views, especially those dealing with wages, education, and the position of women in the family. The objective of this article is to analyze the main economic approaches held by women, starting with an analysis of the situation of women in the eighteenth and nineteenth centuries. The differences between women’s thoughts on economics and the classical and neoclassical economic approaches are considered, as well as women’s thoughts on productivity and firm’s a…