Search results for "Structuring"
showing 10 items of 219 documents
Risk Management Optimization for Sovereign Debt Restructuring
2015
Abstract Debt restructuring is one of the policy tools available for resolving sovereign debt crises and, while unorthodox, it is not uncommon. We propose a scenario analysis for debt sustainability and integrate it with scenario optimization for risk management in restructuring sovereign debt. The scenario dynamics of debt-to-GDP ratio are used to define a tail risk measure, termed conditional Debt-at-Risk. A multi-period stochastic programming model minimizes the expected cost of debt financing subject to risk limits. It provides an operational model to handle significant aspects of debt restructuring: it collects all debt issues in a common framework, and can include contingent claims, m…
Regional Industrial Restructuring
2020
This chapter studies regional industrial restructuring and focuses on the role of the ecosystem for restructuring. The chapter examines more precisely how various types of ecosystems hold different preconditions for regional industrial change. The question is how various stages of the restructuring process are affected by the ecosystem. The chapter moves beyond traditional evolutionary economic geography by examining a wide range of actors, mechanisms, and outcomes. A particular focus is placed on the importance of asset modification for regional industrial restructuring. The chapter concludes by suggesting that thin regional innovation systems (RISs) mainly support the reuse of existing as…
Vertical relationships for the European railway industry
2001
Abstract A key question in the reform process of Europe's railway industry is the decision whether to opt for a market structure that vertically integrates infrastructure and operations, or for one that separates them. In making this decision, knowledge of the relationship between operating costs and the infrastructure is fundamental. For this purpose a translogarithmic cost function is estimated, including the multi-product nature of railway companies and a measurement of the value of the infrastructure. The results show that costs deriving from freight transport and from the infrastructure are complementary, while those deriving from passenger transport and from the infrastructure are sub…
Schematic or taxonomic organisation of the reality and the development of class logic
1994
Abstract The experiment studied the effect of various methods of organising reality (taxonomic vs. schematic) on success in inclusion and logical complementation tasks. Seventy-two nine-year-old children were divided into four groups on the basis of their logical structuring abilities. Using three sets of material (Animals, Plants, Means of Transportation), the subjects performed a sorting task and an evaluation task in which the taxonomic and schematic modes of organising reality were opposed. Contrary to our hypothesis, the ″;logical included' did not exhibit a greater capacity for taxonomic organisation than the “empirical includers” of the same age, either in the sorting or the evaluati…
The ideal restructuring of migrant families in the immigration law
2013
The legal configuration of kinship ties in immigration law is governed by a restrictive logic that combines a dependent and nuclear composition with mismatches in the concrete form of managing the distances, the dynamics and the times at origin and destination. The family model in immigration law has an ideal and dominant approach openly excluding other family realities in the social context. Law in an inherent tendency towards the ideal doesn’t allow a legitimate choice between autonomy and individual freedom in order to define or not the family project and own relationships. In this paper I discuss from a critical approach the inconsistencies presented by the current Spanish immigration l…
Asset modification for regional industrial restructuring: digitalization of the culture and experience industry and the healthcare sector
2021
This paper researches how firm- and system-level asset modification and alignment underpin and direct new path development from digitalization. It suggests that asset reuse mostly promotes path extension or path upgrading, while asset creation and asset destruction will be more evident in the process of path emergence. The empirics support asset modification as a key mechanism for regional restructuring from digitalization, but suggest that the typology should be more nuanced. Specifically, the empirics demonstrate asset upgrading as a key mechanism. publishedVersion
Mejora de la calidad, la gestión y la difusión de RELIEVE
2014
Se plantean los principales procesos y proyectos de RELIEVE planteados para la mejora de la calidad editorial de la revista en la nueva etapa, tras la reestructuración del equipo gestor. Entre los retos más relevantes destacan la automatización de la gestión de la revista, la ampliación de su difusión internacional con la edición bilingu?e de los artículos y la edición colegiada mediante Editores de Sección expertos en los diversos ámbitos de contenido de la revista.
LA RINEGOZIAZIONE DEGLI ACCORDI DI RISTRUTTURAZIONE DEI DEBITI
2021
L’articolo ha per oggetto l’esame critico, con un tentativo di sviluppo anche rispetto ad ipotesi non espressamente regolate, dell’art. 58 del nuovo Codice della crisi di impresa e di insolvenza, che disciplina oggi la materia della rinegoziazione degli accordi di ristrutturazione e delle modifiche del piano, distinguendo fra la fase precedente e quella successiva all’omologazione The essay focuses – with a critical approach, also aimed to develope further implementation events – on the Section 58 of the new Crisis and Insolvency Code, now regulating the Renegotiation of Debt Restructuring Agreements, in order to face their shortcomings as well as adjustment needs, by introducing different …
El desarrollo humano sostenible: un compromiso educativo
2017
Sustainable Human Development (hereafter SHD) is taking shape as a proposal for progress in the face of a crisis in civilization so complex and far-reaching that it is considered quite difficult to solve. The aim of this article is to offer a reasoned justification of the evolution of the concept of development and of the need for an educational commitment to be able to make progress towards it. Although it is still polemical and the object of criticism, SHD has become consolidated as a strongly ethical proposal to lead the change in the course of development, transversally affecting its multiple dimensions and advocating interdisciplinary and intercultural cooperation and dialogue. The art…
A SGBEM approach for static shakedown analysis as CQO problem
2011
In this paper the shakedown static approach was rephrased by using the Symmetric Galerkin Boundary Element Method (SGBEM) for multidomain type problems. The present formulation utilizes the self-equilibrium stress equation, connecting the stresses at the Gauss points of each substructure (bem-e) to plastic strains, through a stiffness matrix (self-stress matrix), involving all the bem-elements of the discretized system. The optimization problem was solved by Conic Quadratic Optimization (CQO) and implemented using the Karnak.sGbem code coupled with MatLab. In order to prove the efficency of the proposed strategy, some numerical tests, in which the shakedown multiplier was checked by SGBEM e…