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Monama, Bonga Justice. "Dismissal for stock loss." Thesis, University of Limpopo, Turfloop Campus, 2013. http://hdl.handle.net/10386/1111.
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Vardar, Ceren. "On the Correlation of Maximum Loss and Maximum Gain of Stock Price Processes." Bowling Green State University / OhioLINK, 2008. http://rave.ohiolink.edu/etdc/view?acc_num=bgsu1224274306.
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Rosenberg, Josh. "The Effect Of Tax Loss Harvesting On Momentum In The U.S. Stock Market: An Intra Industry Group Study." Scholarship @ Claremont, 2014. http://scholarship.claremont.edu/cmc_theses/956.
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It is well understood through previous literature that strategies, which buy past winning stocks and sell past losing stocks, can generate significant positive returns. This phenomenon is known as the momentum effect in the stock market. Furthermore, there is a common accounting practice used by portfolio managers called tax loss harvesting.Tax loss harvesting is the practice of selling a security in order to create a benefit for tax purposes. This paper attempts to build upon previous literature by explaining why the momentum effect is different at the beginning of the calendar year than in the middle and assessing whether or not tax loss harvesting may play a role. A trading strategy was created which calculates the returns of winning and losing portfolios intra industry groups, around different months of the year, in attempt to explain fluctuations in the momentum effect. Evidence in support of the hypothesis that tax loss harvesting played a role in impacting momentum strategies did not prove to be statistically significant.
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Manyatsi, Sanele Mduduzi Innocent. "Investigating some heuristic solutions for the two-dimensional cutting stock problem / S.M. Manyatsi." Thesis, North-West University, 2010. http://hdl.handle.net/10394/4390.
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In this study, the two-dimensional cutting stock problem (2DCSP) is considered. This is a problem that occurs in the cutting of a number of smaller rectangular pieces or items from a set of large stock rectangles. It is assumed that the set of large objects is sufficient to accommodate all the small items. A heuristic procedure is developed to solve the two-dimensional single stock-size cutting stock problem (2DSSSCSP). This is the special case where the large rectangles are all of the same size. The major objective is to minimize waste and the number of stock sheets utilized.
The heuristic procedures developed to solve the 2DSSSCSP are based on the generation of cutting pattern. The Wang algorithm and a specific commercial software package are made use of to generate these patterns. The commercial software was chosen from a set of commercial software packages available in the market. A combinatoric process is applied to generate sets of cutting patterns using the Wang algorithm and the commercial software. The generated cutting patterns are used to formulate an integer linear programming model which is solved using an optimization solver.
Empirical experimentation is carried out to test the heuristic procedures using data obtained from both small and real world application problem instances. The results obtained shows that the heuristic procedures developed produce good quality results for both small and real life problem instances. It is quite clear that the heuristic procedure developed to solve the 2DSSSCSP produces cutting patterns which are acceptable in terms of waste generated and may offer useful alternatives to approaches currently available.
Broadly stated, this study involves investigating available software (commercial) in order to assess, formulate and investigate methods to attempt to benchmark software systems and algorithms and to employ ways to enhance solutions obtained by using these software systems.Thesis (M.Sc. (Computer Science))--North-West University, Potchefstroom Campus, 2011.
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Barber, Steven Donald. "Analysis and Prevention of Usable Fiber Loss from a Fine Paper Mill." Thesis, Virginia Tech, 1998. http://hdl.handle.net/10919/37004.
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Reducing losses of usable waste fiber from paper mills conserves valuable resources and has the capacity to produce considerable economic returns to the manufacturer. The purpose of this research effort was to evaluate the potential for the prevention of loss and/or recovery of usable waste fiber from paper machines within a fine paper mill. Further, a preliminary evaluation of fiber loss prevention strategies and fiber recovery technologies was conducted.
The paper mill in question experienced losses of usable waste fiber to the sewer in amounts approaching, and sometimes exceeding 40 tons/day. An existing database of usable fiber test results was analyzed to determine patterns of fiber loss. Further testing showed that the most significant fiber losses resulted from centrifugal cleaner cones. These cones, designed to remove foreign material from stock, are one step in a series of mechanical cleaning devices in the stock preparation area of the paper mill. Cleaner cone systems on two of the paper machines were found to contribute most significantly to total fiber loss.
Contrary to cleaner cone design, the dirt content of fiber rejects from cones experiencing excessive loss was very low. Cleaner cones on other machines operated normally. These rejects were extremely dirty and quantities of fiber were low. These results indicate poor operating efficiency of two of the cleaner cone systems in question. By adding cones where space is available, system capacity and efficiency will increase, fiber losses will decrease, and the dirt content of rejects will increase. This will result in substantial resource and financial savings to the paper mill.
Technologies have been developed to recover usable fiber from paper mill sludge. However, prior to further investigation of the use of such innovations at this paper mill, efforts should focus on the reduction of fiber loss from point sources.
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Alshabani, Waleed Mohammad. "An investigation of the effects of SFAS No.121 on asset impairment reporting and stock returns." Thesis, University of North Texas, 2001. https://digital.library.unt.edu/ark:/67531/metadc3068/.
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Prior to Statement of Financial Accounting Standards No.121 (SFAS No.121): Accounting for the Impairment of Long-Lived Assets and Long-Lived Assets to Be Disposed Of, managers had substantial discretion concerning the amount and timing of reporting writedowns of long-lived assets. Moreover, the frequency and dollar amount of asset writedown announcements that led to a large “surprise” caused the Financial Accounting Standards Board (FASB) and the Securities and Exchange Commission (SEC) to consider the need for a new standard to guide the recording of impairment of long-lived assets. This study has two primary objectives. First, it investigates the effects of SFAS No.121 on asset impairment reporting, examining whether SFAS No.121 reduces the magnitude and restricts the timing of reporting asset writedowns. Second, the study compares the information content (surprise element) of the asset impairment loss announcement as measured by cumulative abnormal returns (CAR) before and after the issuance of SFAS No.121. The findings provide support for the hypothesis that the FASB's new accounting standard does not affect the magnitude of asset writedown losses. The findings also provide support for the hypothesis that SFAS No. 121 does not affect the management choice of the timing for reporting asset writedowns. In addition, the findings suggest that the market evaluates the asset writedown losses after the issuance of SFAS No. 121 as good news for “big bath” firms, while, for “income smoothing” firms, the market does not respond to the announcements of asset writedown losses either before or after the issuance of SFAS No. 121. The findings also suggest that, for “big bath” firms, the market perceives the announcement of asset impairment losses after the adoption of SFAS No. 121 as more credible relative to that before its issuance. This could be because the practice of reporting asset writedowns after the issuance of SFAS No. 121 is under the FASB's authoritative guidance, which brings consistency and comparability in asset impairment reporting.
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Kucharska, Magdalena, and Jolanta Pielaszkiewicz. "NIG distribution in modelling stock returns with assumption about stochastic volatility : Estimation of parameters and application to VaR and ETL." Thesis, Halmstad University, School of Information Science, Computer and Electrical Engineering (IDE), 2009. http://urn.kb.se/resolve?urn=urn:nbn:se:hh:diva-2874.
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We model Normal Inverse Gaussian distributed log-returns with the assumption of stochastic volatility. We consider different methods of parametrization of returns and following the paper of Lindberg, [21] we
assume that the volatility is a linear function of the number of trades. In addition to the Lindberg’s paper, we suggest daily stock volumes and amounts as alternative measures of the volatility.
As an application of the models, we perform Value-at-Risk and Expected Tail Loss predictions by the Lindberg’s volatility model and by our own suggested model. These applications are new and not described in the
literature. For better understanding of our caluclations, programmes and simulations, basic informations and properties about the Normal Inverse Gaussian and Inverse Gaussian distributions are provided. Practical applications of the models are implemented on the Nasdaq-OMX, where we have calculated Value-at-Risk and Expected Tail Loss
for the Ericsson B stock data during the period 1999 to 2004.
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Alizada, Zekria, and Oscar Clarin. "The Impact of Loss Aversion Bias on Herding Behavior of Young Swedish Retail Investors : A Behavioral Perspective on Young Swedish Retail Investors' Decision Making in the Stock Market." Thesis, Internationella Handelshögskolan, Högskolan i Jönköping, IHH, Företagsekonomi, 2018. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-39828.
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Background: Kahneman and Tversky (1974, 1979 & 1992) argue that individuals are bound to numerous behavioral biases that may lead to the emergence of different irrational behaviors. This is often observed with even a higher degree among participants of financial and stock markets as agents such as investors are frequently exposed to significant level of risk and uncertainty (Kahneman, 2013; Kahneman, Knetsch & Thaler, 1991; Kahneman & Tversky, 1974, 1979, 1992). Also, empirical studies indicate that a significant level of herding exists among investors when they are exposed to a high degree of risk and uncertainty such as those in financial crises (Galariotis, Rong & Spyrou, 2014; Litimi, 2017; Hott, 2009). Purpose: the main purpose of this thesis is to explore if the loss aversion bias has a significant causal impact on forming herding behavior among young Swedish retail investors. Method: an online analytical questionnaire including eight questions has been conducted to collect primary data, with 77 Swedish retail investors under the age of 35 participating in the study. Furthermore, a multiple regression analysis has been implemented to analyze and interpret the data. Conclusion: it can be concluded that there is not a significant correlation between the degree of loss aversion and the degree of herding behavior within the sample group of young Swedish retail investors. Hence, loss aversion bias cannot be considered as one of the major contributors of herding within the target population.
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Kucharska, Magdalena, and Jolanta Maria Pielaszkiewicz. "NIG distribution in modelling stock returns with assumption about stochastic volatility : Estimation of parameters and application to VaR and ETL." Thesis, Halmstad University, 2009. http://urn.kb.se/resolve?urn=urn:nbn:se:lnu:diva-58180.
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We model Normal Inverse Gaussian distributed log-returns with the assumption of stochastic volatility. We consider different methods of parametrization of returns and following the paper of Lindberg, [21] we assume that the volatility is a linear function of the number of trades. In addition to the Lindberg’s paper, we suggest daily stock volumes and amounts as alternative measures of the volatility. As an application of the models, we perform Value-at-Risk and Expected Tail Loss predictions by the Lindberg’s volatility model and by our own suggested model. These applications are new and not described in the literature. For better understanding of our caluclations, programmes and simulations, basic informations and properties about the Normal Inverse Gaussian and Inverse Gaussian distributions are provided. Practical applications of the models are implemented on the Nasdaq-OMX, where we have calculated Value-at-Risk and Expected Tail Loss for the Ericsson B stock data during the period 1999 to 2004.
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Garcia, Alexandre Hildebrand. "A redução do capital social (em companhias abertas e fechadas)." Universidade de São Paulo, 2009. http://www.teses.usp.br/teses/disponiveis/2/2132/tde-14102010-161707/.
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A presente dissertação faz uma abordagem do tema da redução do capital de companhias abertas e fechadas no Brasil, apresentando-o em duas partes. Na primeira parte, composta pelos Capítulos 1 e 2, são tratados aspectos gerais e, na segunda parte, composta pelos Capítulos 3 e 4, são tratados aspectos específicos das reduções do capital social. No Capítulo 1, é apresentado um breve histórico do capital social, em que se procura estalecer a sua origem e relação com a função de produtividade das primeiras companhias, afastando-se do pensamento tradicional de que o capital social tenha tido a sua origem relacionada com a função de proteção de credores. Além disso, é apresentada uma noção geral de capital social, suas classificações, princípios mais relevantes e funções, sempre com o foco de preparar a discussão para a sua redução. No Capítulo 2, é apresentada uma noção geral da redução do capital e a visão do autor dos dois principais princípios que a informam: o da igualdade e o da proteção aos credores. A análise prossegue, para apresentar uma classificação das reduções do capital de acordo com as suas causas ou de acordo com os efeitos que produzem no patrimônio das companhias. Por fim, sustenta-se a taxatividade das causas de redução do capital social. No Capítulo 3, são apresentadas as causas de redução do capital por perda e por excesso, bem como o procedimento para a sua implementação. A boa compreensão deste capítulo depende, em grande parte, das discussões sobre o capital social, suas classificações, princípios mais relevantes e funções, bem como sobre os princípios aplicáveis e as classificações das reduções do capital. No Capítulo 4, são brevemente apresentadas as outras causas que podem determinar a redução do capital social de companhias abertas e fechadas no Brasil, bem como as principais discussões ao redor de cada uma delas.This paper highlights the reduction of capital stock on Brazilian privately and publicly-held companies, being presented in two parts. Part One is integraded by Chapters One and Two, which present an overview of the matter, and Part Two, which present specific issues related to each cause of reduction of capital stock. On Chapter One, it is presented a short history of capital stock with the purpose of relating it with its productivity function on the first companies, instead of relating it with the function of guarantee for creditors, as a traditional doctrine usually explains its origin. Besides, it is presented a general concept of capital stock, its categories, principles and functions, with the goal of preaparing further discussions on its reduction. On Chapter Two, it is presented a general concept of reduction of capital stock and the authors stand point of the two main principles applicable to it: equal treatment and creditors protection. The analysis moves ahead to categorize the cases of reduction of capital stock in accordance with their causes or the effects on companies assets. On Chapter Three, the author presents the two main causes of capital reduction in Brazil: loss and excess (of assets). Besides it is presented the procedure to accomplish a reduction of capital stock on each case. To fully understand this chapter it is mandatory to be aware of the general concept of capital stock, its categories, principles and functions, as well as the general concept of reduction of capital stock and its principles. On Chapter Four, it is brieftly presented the other causes of reduction of capital stock on Brazilian law, as well as the main discussions that surround them.
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Roberts, Harry Hutchinson. "Comparison of the profitability of a number of technical trading systems on the ALSI futures contract." Thesis, Stellenbosch : University of Stellenbosch, 2009. http://hdl.handle.net/10019.1/920.
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Thesis (MBA (Business Management))--University of Stellenbosch, 2009.ENGLISH ABSTRACT: The purpose of this report is to investigate whether the returns of five different trading systems applied is able to outperform the return of a Buy & Hold (B&H) strategy when applied to the Johannesburg Stock Exchange/Financial Times Stock Exchange (JSE/FTSE) Top 40 Index future contract (ALSI). The study starts with an overview of theoretical and empirical studies regarding technical trading systems as well as the application of these technical trading systems in various strategy formats. Five common trading systems were selected for the test. They include the Volatility Channel, the Bollinger Channel Breakout, the Donchian Channel, the Dual Moving Average and the Triple Moving Average systems. The trading systems were applied in three different types of strategies. In the first test the systems were employed using randomly selected parameters to generate trading signals. In the second test the systems were optimised to select the parameters that would yield the most profitable returns over the test period. Finally in the third test a stop loss was added to the systems to investigate whether it would improve returns. In virtually all tests the systems outperformed the B&H approach. This was primarily due to the collapse of world financial markets in 2008 that caused the systems, which are all trend following by nature, to generate large returns. If it had not been for this event, the trend-following systems would all have underperformed the total return generated by the B&H strategy over the duration of the test period. The tests revealed that the selection of the parameters that generate the trade signals for the trading systems can drastically influence the profitability of a trading system. Furthermore the implementation of stop-loss strategies does not necessarily improve the return or drawdown that a system displays, as several of the systems were negatively influenced by the implementation of the stop-loss strategy.
AFRIKAANSE OPSOMMING: Die doel van hierdie verslag is om te ondersoek of die opbrengs van vyf verskillende verhandelingstelsels die opbrengs van die Koop-en-Hou-strategie kan klop soos toegepas op die JSE/FTSE Top 40 Indeks termynkontrak (ALSI). Die studie begin met ’n oorsig oor teoretiese en empiriese studies oor tegniese verhandelingstelsels, asook die toepassing van hierdie tegniese stelsels in verskeie strategiese formate. Vyf algemene verhandelingstelsels is gekies vir die ondersoek, naamlik die Volatiliteitskanaal (Volatility Channel), die Bollinger Kanaal Uitbreek (Bollinger Channel Breakout), die Donchian Kanaal (Donchian Channel), die Tweeledige Bewegende Gemiddelde (Dual Moving Average) en die Drieledige Bewegende Gemiddelde (Triple Moving Average). Die stelsels is op drie verskillende tipes stategieë toegepas. In die eerste toets was die stelsels geïmplementeer deur lukraak gekose parameters te gebruik om verhandelingseine voort te bring. In die tweede toets was die stelsels geoptimaliseer deur die parameters te kies wat die mees winsgewende opbrengs oor die toetsperiode sou voortbring. In die derde toets was ’n staakverlies (stop loss) geïmplementeer om te ondersoek of dit die opbrengs sou verbeter. Feitlik al die toetse het getoon dat die verhandelingstelsels die Koop-en-Hou-benadering geklop het. Aangesien al die stelsels die algemene tendens in die mark volg, het hulle hoë opbrengste getoon hoofsaaklik as gevolg van die beermark wat die wêreld se finansiële markte in 2008 gekenmerk het. As hierdie gebeurtenis nie plaasgevind het nie, sou hierdie stelsels swakker gevaar het as die Koop-en-Hou-strategie gedurende die tydperk van die toetsperiode. Die toetse het aangedui dat die keuse van die parameters wat verhandelingseine vir die stelsels gegenereer het, die winsgewendheid van ’n verhandelingstelsel drasties kan beïnvloed. Die implementering van ’n staakverlies- (stop-loss) strategie verbeter nie noodwendig die opbrengs van ’n stelsel nie, aangesien verskeie stelsels negatief beïnvloed was deur die staakverlies-strategie.
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Ehsan, Adam. "Návrh obchodního systému pro akciové indexy." Master's thesis, Vysoké učení technické v Brně. Fakulta podnikatelská, 2014. http://www.nusl.cz/ntk/nusl-224759.
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Práca si kladie za cieľ vytvorenie obchodného systému pre intradenné obchodovanie US akciových indexov. Autor sa v teoretických východiskách zameriava na vysvetlenie základných pojmov obchodovania US indexov na intradennej báze a obchodovania všeobecne. V ďalšej kapitole je popísaná súčastná situácia – tvorba obchodného plánu a vysvetlené principy na ktorých je plán založený. V návrhovej časti je predstavený kompletný systém pre intradenné obchodovanie US akciových indexov.
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Tomečková, Marie. "Využití finanční analýzy v podniku." Master's thesis, Vysoké učení technické v Brně. Fakulta podnikatelská, 2011. http://www.nusl.cz/ntk/nusl-222807.
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This thesis deals with the evaluation of the financial situation of the PNEU PLUS s.r.o. company in years 2006 - 2009. Through use of selected methods and indicators, a financial analysis has been carried out, and on its basis concrete measures have been proposed to improve the current financial situation.
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Feldbabelová, Irina. "Finanční hodnocení podniku a návrhy na zlepšení." Master's thesis, Vysoké učení technické v Brně. Fakulta podnikatelská, 2011. http://www.nusl.cz/ntk/nusl-223091.
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he aim of this thesis is to carry out an appraisal of a financial condition of a company. In the first part, theoretical start-points of Financial Analysis are scrutinised, with an introduction of the company followed. By taking the advantage of the Financial Analysis method, the financial condition of the company is appraised and the outcomes are compared with competition. In the second part, proceedings for risk elimination in the company management are suggested.
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Hill, Roger M. "Lost sales inventory models." Thesis, University of Exeter, 2000. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.302560.
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Infantino, Shanna. "Investment Analysis: Evaluating the Loss and Risk of a Stocks and Options Portfolio." Digital WPI, 2012. https://digitalcommons.wpi.edu/etd-theses/651.
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With the ripples in the financial markets and economic stresses that occur around the world today, it would be beneficial to have some insight into the tools that help investors learn about the riskiness of their portfolios. At what value is one's portfolio in danger of being completely wiped out? We aim to further the understanding of values such as these and give an assessment of some risk measures by investing in an interactive portfolio, as well as estimating the values at risk and expected shortfalls of this portfolio.
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Shah, Azuri. "Investment Analysis: Evaluating the Loss and Risk of a Stocks and Options Portfolio." Digital WPI, 2012. https://digitalcommons.wpi.edu/etd-theses/652.
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With the ripples in the financial markets and economic stresses that occur around the world today, it would be beneficial to have some insight into the tools that help investors learn about the riskiness of their portfolios. At what value is one's portfolio in danger of being completely wiped out? We aim to further the understanding of values such as these and give an assessment of some risk measures by investing in an interactive portfolio, as well as estimating the values at risk and expected shortfalls of this portfolio.
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Kudličková, Barbora. "Analýza vybrané firmy." Master's thesis, Vysoké učení technické v Brně. Fakulta podnikatelská, 2011. http://www.nusl.cz/ntk/nusl-223223.
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This thesis analyzes the selected companies. I am going to use in my work analysis dealing with both external and internal business environment, branch environment and also the assessment of the situation in the company for the last three financial years. Individual analysis will be closely specified in the work and deployed in the real company environment . Based on established facts, the ompany will be recommended possible solutions to improve the current situation.
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To, Kwok-pun, and 涂國彬. "In search of lost anomalies : a journey of cheerful mondays and gloomy fridays in Hong Kong, observations and implications." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 2013. http://hdl.handle.net/10722/192980.
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This paper explores a new data set of the profit alerts from electronic disclosure in the Hong Kong Stock Exchange website from 25th June 2007 to 30th June 2013 in view of the potential day-of-the-week effects in terms of Cumulative Abnormal Returns (CAR) anomalies in Fridays and Mondays due to behavioral biases such as limited attention, under-reaction and over-reaction.
A novel approach of hypothesis testing that combines a hypothetical portfolio for a representative informed trader of the CAR anomalies and a trading strategy back-tested with past data with special reference to the limits of arbitrage by incorporating institutional factors such as short sales constraints imposed by stock exchange refutes the conjecture that there are such tradable anomalies with measurable economic significance without relying on unstable parameters in traditional hypothesis testing and arbitrary interpretation of statistical significance.
In the absence of reliable frame of reference by the problem nature, the study investigates the methodological issues of anomalies, expectations, information, externalities, efficiency, and so on, in economics and finance with new perspectives and insights from other disciplines including physics, biology, psychology and philosophy.
Keywords: profit alerts, day-of-the-week effects, Friday, Monday, anomalies, behavioral biases, attention, inattention, under-reaction, over-reaction, methodology, limits of arbitrage, short sales constraints, frame of reference, expectations, Rational Expectations, Efficient Market Hypothesis Least Action Principle, evolutionary, Adaptive Markets Hypothesis, market ecology, ever-changing cycles, corporate governance, information, externalities, efficiency, beliefs, knowledge, decision-making, uncertainty, equilibrium, disequilibrium.published_or_final_version
Economics and Finance
Master
Master of Economics
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Martits, Luiz Augusto. "Preferências assimétricas em decisões de investimento no Brasil." reponame:Repositório Institucional do FGV, 2008. http://hdl.handle.net/10438/2580.
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Previous issue date: 2008-02-20T00:00:00ZThe main objective of this thesis is to test the hypothesis that utility preferences that incorporate asymmetric reactions between gains and losses generate better results, when applied to the Brazilian market, than the classic Von Neumann-Morgenstern expected utility function. The asymmetric behavior can be computed through the introduction of a disappointment (or loss) aversion coefficient in the classical expected utility function, which increases the impact of losses against gains. This kind of adjustment is supported by recent developments in financial theory, specially those studies that try to solve the violations of the expected utility axioms. The analysis of the implications of such adjustment is made through the comparison of the results regarding the participation of the risky asset (stock market) in the composition of the optimum portfolio (the one that maximizes utility) generated by both types of preferences: expected utility and loss aversion utility functions. The results are then compared with real data from two types of Brazilian investors (pension funds and households) aiming at verifying the capacity of each utility function to replicate real investment data from these investors. The results of the tests show that it is not possible to reject the expected utility function as an adequate representative model for the aggregate behavior of Brazilian pension funds. However, the simulations indicate that this type of function should be rejected as an adequate model to replicate real investment decisions of Brazilian individual investors (households). The behavior of this type of investors can be better replicated by applying a loss aversion utility function.
O principal objetivo deste trabalho é analisar se o uso de preferências que incorporem assimetria na reação do investidor frente a ganhos e perdas permite gerar resultados mais coerentes com o comportamento real de investidores brasileiros na seleção de portfólios ótimos de investimento. Uma das formas de tratar o comportamento assimétrico se dá através da introdução do coeficiente de aversão a perdas (ou ao desapontamento) na função utilidade tradicional, coeficiente este que aumenta o impacto das perdas frente aos ganhos. A aplicação deste ajuste na função utilidade tradicional decorre de recentes avanços na teoria de finanças, mais especificamente daqueles estudos que buscam solucionar as violações dos axiomas da teoria da utilidade esperada, violações estas já demonstradas empiricamente através de testes de laboratório. A análise das implicações do uso deste tipo de função é feita através da comparação dos resultados quanto à participação do ativo com risco (mercado acionário) na composição do portfólio ótimo (aquele que maximiza a utilidade) do investidor gerados por dois tipos de função utilidade: tradicional e com aversão a perdas. Os resultados são comparados com dados reais de participação do mercado acionário nos investimentos totais de dois tipos de investidores brasileiros - fundos de pensão e investidores individuais - visando verificar a adequação dos resultados de cada função em relação ao comportamento destes investidores. Os resultados mostram que não é possível rejeitar a função utilidade tradicional como modelo representativo do comportamento agregado dos fundos de pensão. Por outro lado, as simulações indicam que a função utilidade tradicional deve ser rejeitada como modelo representativo do comportamento dos investidores individuais, sendo o comportamento destes investidores melhor representado por uma função que incorpora aversão a perdas.
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Dalbe, Marie-Julie. "Instabilité de Stick-Slip lors du pelage d’un adhésif." Thesis, Lyon 1, 2014. http://www.theses.fr/2014LYO10236.
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Cette thèse de doctorat présente une étude essentiellement expérimentale de l'instabilité de stick-slip lors du pelage d'adhésifs. Nous avons développé différents dispositifs expérimentaux permettant d'observer directement la dynamique de rupture saccadée du pelage. Les expériences sont réalisées à vitesse imposée dans différentes géométries : l'adhésif est pelé directement depuis son rouleau, ou depuis un substrat plan à angle imposé. D'une part, nous avons mis en évidence d'importants effets dynamiques, que les modèles théoriques actuels ne permettent pas d'expliquer. D'autre part, nous avons montré l'effet crucial de l'angle de pelage sur l'instabilité, qui est fortement réduite (en amplitude et en gamme d'existence) pour de grands angles. De plus, une nouvelle approche théorique, prenant en compte l'inertie du ruban, permet de comprendre en partie ces résultats expérimentaux. Enfin, nous démontrons que l'instabilité de stick slip est multi-échelle, en mettant en évidence la présence d'une instabilité secondaire, à des échelles temporelles et spatiales plus faibles que le stick-slip observé habituellement. Alors que l'instabilité principale est causée par des variations d'énergie élastique d'élongation, cette instabilité secondaire est pilotée par un relâchement de l'énergie de courbure du rubanThis thesis presents a mainly experimental study of the stick-slip instability during the peeling of adhesive tape. We developed different experimental set-ups, allowing us to observe directly the jerky dynamics during peeling. The experiments are conducted at an imposed velocity and different geometries : the adhesive is peeled directly from a roller, or from a flat substrate at a fixed angle. On the one hand, we highlight the existence of strong dynamical effects, which cannot be understood with the existing theoretical models. On the other hand, we show the crucial effect of the peeling angle on the instability, which is strongly reduced at large angles (both its amplitude and range of existence decrease). Besides, a new theoretical approach, taking into account the ribbon inertia, can allow us to understand partially the experimental observations. Finally, we show that the stick-slip instability is multi-scale : a secondary instability can occur at spatial and temporal scales smaller than the usually observed stick-slip. While the main instability is due to variations of the stretching elastic energy, this secondary instability is driven by the release of the bending energy stored in the ribbon
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Liu, Zhengyang. "Characterization and Failure Mode Analysis of Cascode GaN HEMT." Thesis, Virginia Tech, 2014. http://hdl.handle.net/10919/49580.
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Recent emerging gallium nitride (GaN) high electron mobility transistor (HEMT) is expected to be a promising candidate for high frequency power conversion techniques. Due to the advantages of the material, the GaN HEMT has a better figure of merit (FOM) compared to the state-of-the-art silicon (Si) power metal oxide silicon field effect transistor (MOSFET), which allows the GaN HEMT to switch with faster transition and lower switching loss. By applying the GaN HEMT in a circuit design, it is possible to achieve high frequency, high efficiency, and high density power conversion at the same time.
To characterize the switching performance of the GaN HEMT, an accurate behavior-level simulation model is developed in this thesis. The packaging related parasitic inductance, including both self-inductance and mutual-inductance, are extracted based on finite element analysis (FEA) methods. Then the accuracy of the simulation model is verified by a double-pulse tester, and the simulation results match well with experiment in terms of both device switching waveform and switching energy.
Based on the simulation model, detailed loss breakdown and loss mechanism analysis are made. The cascode GaN HEMT has high turn-on loss due to the body diode reverse recovery of the low voltage Si MOSFET and the common source inductance (CSI) of the package; while the turn-off loss is extremely small attributing to the cascode structure.
With this unique feature, the critical conduction mode (CRM) soft switching technique are applied to reduce the dominant turn on loss and increase converter efficiency significantly. The switching frequency is successfully pushed to 5MHz while maintaining high efficiency and good thermal performance.
Traditional packaging method is becoming a bottle neck to fully utilize the advantages of GaN HEMT. So an investigation of the package influence on the cascode GaN HEMT is also conducted. Several critical parasitic inductors are identified, which cause high turn on loss and high parasitic ringing which may lead to device failure. To solve the issue, the stack-die package is proposed to eliminate all critical parasitic inductors, and as a result, reducing turn on loss by half and avoiding potential failure mode of the cascode GaN device effectively.
Utilizing the proposed stack-die package and ZVS soft switching, the GaN HEMT high frequency, high efficiency, and high density power conversion capability can be further extended to a higher level.Master of Science
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Bardalez, Chota Carlos Javier, and Villalva Moisés Pedro Ynga. "Análisis de las ventajas y desventajas de los sistemas de trading de alta frecuencia frente a los sistemas tradicionales de trading." Bachelor's thesis, Universidad Peruana de Ciencias Aplicadas (UPC), 2019. http://hdl.handle.net/10757/626450.
Full textAbstract:
El presente trabajo tiene la finalidad de analizar las ventajas y desventajas de los sistemas de trading de alta frecuencia frente a los sistemas tradicionales de trading que en la actualidad operan en el mercado de valores internacional. Para desarrollar la investigación, se realizó un proceso de recopilación y cruce de información relacionada, a partir de los mismos se identificó si es o no ético el nivel de optimización en tiempo y recursos, la rentabilidad económica y la liquidez que aportan las operaciones del trading de alta frecuencia en comparación a los sistemas tradicionales de trading. El trading de alta frecuencia en determinados casos puede tener importantes consecuencias en el funcionamiento regular del mercado, pues supone la utilización de algoritmos logrando introducir en el mercado grandes volúmenes de órdenes en función de específicos parámetros de cotización en cuestión de milisegundos. Cabe recalcar que en la actualidad el trading de alta frecuencia carece de una regulación drástica que equilibre las condiciones de juego para todos los traders del mundo. Si bien es cierto, Perú no realiza operaciones de trading de alta frecuencia y es nuevo en este tema, el país cuenta con enormes posibilidades de incorporar dicho sistema; siempre y cuando mejore su liquidez, existan mayores emisores y proveedores de tecnología de punta e infraestructura, se amplíe la capacidad de banda ancha, entre otros aspectos. En ese sentido, si el Perú incorpora y desarrolla el trading de alta frecuencia tendría mayores y mejores posibilidades de lograr competitividad en el mercado de valores internacional.The purpose of this report is analize the advantages and disadvantages of the high frequency trading process compared to the traditional trading which nowadays operate in the international stock market. To develop this research, a process of gathering and cross-checking related information was carried out, from which it was identified if is ethical or not the level of optimization in terms of time and resources, the economic profitability and the liquidity provided by the high frequency trading operations in contrast with the traditional trading systems. The high frequency trading in certain cases can have relevant consequences in the regular operation of the market, considering the use of algorithms managing to introduce in the market large volumes of orders based on specific quotation parameters in a blink of an eye. It should be noted that currently high-frequency trading lacks a drastic regulation that balances the playing conditions for all traders in the world. It is known, Peru does not carry out high frequency trading operations and is new at it, the country has a lot of possibilities of incorporating this system; provided that its liquidity improves, there are greater issuers and suppliers of innovative technology and infrastructure, broadband capacity is expanded, among other aspects. In that sense, if Peru incorporates and develops the high frequency trading, it would have greater and better chances of achieving competitiveness in the International Stock Market.
Trabajo de Suficiencia Profesional
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Ferreira, Raquel Sofia e. Vasconcelos. "Wildfire effects on soil nutrients stocks and exports by overland flow." Doctoral thesis, Universidade de Aveiro, 2016. http://hdl.handle.net/10773/16825.
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Doutoramento em Ciências e Engenharia do AmbienteO objetivo deste trabalho foi realizar uma avaliação de perdas de nutrientes após incêndio por escorrência superficial, à escala de microparcela e à escala de encosta (embora de forma limitada) numa área recentemente queimada da região Mediterrânica, fornecendo estimativas das exportações de catiões, azoto e fósforo, num enquadramento paisagístico como este propenso ao fogo. Representa um importante complemento para o até agora modesto número de estudos sobre as perdas de nutrientes pós-fogo por escorrência superficial, realizado na região Mediterrânica, para antecipar os impactos dos incêndios recorrentes na produtividade do solo. Este trabalho é parte do projeto FIRECNUTS (PTDC/AGR-CFL/104559/2008) - efeitos de um incêndio nas reservas de nutrientes, dinâmica e exportações – e lida com estas lacunas de pesquisa, estudando a exportação de nutrientes selecionados (catiões, azoto e fósforo) numa área florestal recentemente queimada, no centro-norte de Portugal (Sever do Vouga). Os objetivos específicos foram comparar as exportações de catiões, assim como de azoto e fósforo nas formas totais e solúveis, principalmente à escala de micro-parcela: (i) para duas das espécies de árvores mais propensas ao fogo, i.e. eucalipto e pinheiro; (ii) para duas das geologias mais comuns na área, i.e. granito e xisto; (iii) para diferentes orientações do declive, i.e. face a norte e face a sul; (iv) com tempo-desde-incêndio durante os meses iniciais após incêndio e durante um período de monitorização mais extenso. As exportações de nutrientes foram particularmente acentuadas nos três meses após o fogo. No entanto, após este período inicial, foram observados também picos nas concentrações de nutrientes, em associação a eventos de precipitação intensa, com diferenças na variação de cada nutriente, e com o declínio das exportações de fósforo a seguir um padrão mais linear com o tempo desde o incêndio. Os resultados deste estudo enfatizaram a importância de uma camada protetora do solo (ou seja, com as agulhas das árvores queimadas de pinheiro) para minimizar a exportação de nutrientes pósfogo. A geologia também foi identificada como uma variável importante na avaliação de riscos de erosão pós-incêndio e na definição de medidas de conservação do solo. A orientação do declive não foi uma variável decisiva neste estudo. Estes resultados mostram também que as escalas de tempo mais amplas são úteis para obter mais conhecimento sobre o ciclo hidrológico dos nutrientes e os complexos processos que ocorrem nas áreas de floresta queimada.
The aim of this work was to perform an evaluation of post-fire nutrient losses by overland flow at micro-plot scale, and at slope scale (although on a limited basis) in a recently burnt Mediterranean area, providing estimates of the range of base cations, nitrogen and phosphorus exports in a fire-prone landscape. It represents an important add-on to the up to now modest number of studies on post-fire nutrient losses by overland flow conducted in the Mediterranean region, for anticipating the impacts of recurrent fires on soil productivity. This work is part of the FIRECNUTS project (PTDC/AGR-CFL/104559/2008) - WildFIRE effects on topsoil Carbon and NUTrient Stocks, dynamics and exports – and addresses these research gaps by studying the export of selected nutrients (base cations, nitrogen and phosphorus) in a recently burnt forest area in northcentral Portugal (Sever do Vouga).The specific objectives were to compare base cations exports together with nitrogen and phosphorus exports in the total and soluble forms by overland flow mainly at the micro-plot scale: (i) for the two predominant and fire-prone forest types in north-central Portugal, i.e. eucalypt and pine plantations; (ii) for the two prevailing parent materials in the region, i.e. granite and schist; (iii) for two different slope aspects, i.e. a slope facing north and a slope facing south; (iv) with time-since-fire during the initial months of the window-ofdisturbance and for an extended monitoring period. In parallel, nitrogen and phosphorus stocks in the topsoil were also compared. Nutrient exports were particularly pronounced in the three months after fire. However, after this initial period, peaks in nutrients concentrations were also observed in association to intense rainfall events, with differences in the variation of each nutrient, with phosphorus exports decline following a more straightforward pattern with time since fire. The results of this study emphasized the importance of a protective soil layer (i.e. of scorched pine needle) for minimizing post-fire nutrient export. Parent material was also found to be an important variable when assessing post-fire erosion risks and defining soil conservation measures. Slope aspect was not a decisive variable in his study. These results also show that broader time scales are useful to gain insight into the hydrological and nutrient cycle complex processes in burnt forest areas.
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Charles, Mehdi. "Modeling and solving complex multi-item lot-sizing problems with inventory constraints." Thesis, Lyon, 2021. http://www.theses.fr/2021LYSEM039.
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Nous nous sommes intéressés au problème de lot-sizing multi-produits avec capacité, temps de lancement et ventes perdues. Nous avons étendu ce problème afin de prendre en compte des aspects industriels importants, en particulier des contraintes sur les stocks. Nous avons d'abord étudié les effets de fin d’horizon des solutions aux problèmes de lot-sizing, qui peuvent entraîner des coûts importants même pour des horizons temporels très longs. Pour compenser ces effets, nous avons proposé de rajouter une contrainte de stock final minimal ainsi que des contraintes de stock maximal par produit. Ces valeurs ont été déduites d'une analyse d'un problème de lot-sizing cyclique avec temps de lancement et capacité dont la relaxation linéaire peut être résolue de manière analytique. Par la suite, nous nous sommes intéressés à la modélisation de l'évolution des stocks intra-périodes. Cet aspect est particulièrement important lorsque les capacités de stockage sont limitées. Nous avons proposé des nouvelles contraintes qui différent en fonction des hypothèses sur la production et la demande. L'objectif est de limiter les excès et les déficits de stock lors de l'ordonnancement détaillé du plan de production à chaque période. Nos résultats numériques ont montré que ces nouvelles contraintes permettent de construire des plans de production respectant davantage les contraintes sur les stocks. Des méthodes de résolution génériques et plus particulièrement des méthodes de décomposition (relaxation Lagrangienne, relax-and-fix) ont été développées. Une approche originale de parallélisation a été proposée, dont l’objectif est de réduire la taille des sous-problèmes à résoudre et d'utiliser les outils disponibles à DecisionBrain. L'objectif final de cette thèse a été l'implémentation des heuristiques proposées dans l'outil d'optimisation développé par DecisionBrain ainsi que des tests de performance sur des instances industriellesIn this thesis, we considered the capacitated multi-item lot-sizing problem with setup times and lost sales. We extended this problem to take into account important industrial aspects, especially with regards to inventory management. We first studied the end-of-horizon effects on optimal solutions of lot-sizing problems that, even on a rolling horizon, can lead to important additional costs. To reduce these effects, we have added a global minimum ending inventory constraint as well as a maximum ending inventory constraint for each item. These values were deduced from the analysis of a cyclical capacitated lot-sizing problem with setup times, whose linear relaxation can be analytically solved. Then, we modeled the inventory evolution within each period. This point is especially relevant when the storage capacity is limited. We added new inventory constraints to better respect inventory bounds when scheduling productions within each period. The constraints differ based on hypotheses on the shapes of evolution of production and demand. Numerical experiments showed that these new constraints enable to schedule production plans with a better inventory management. Decomposition approaches (Lagrangian relaxation, relax-and-fix) were developed in order to propose generic approaches to solve capacitated lot-sizing problems with setup times. An original use of parallelization was proposed in order to reduce the size of the subproblems to solve and to use Decisionbrain's tools.Finally, the parallelized relax-and-fix was implemented into DecisionBrain's optimization tool and tests were performed on industrial instances
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Pavez, Salazar Kasandra Loreto. "Evaluación técnico-económica de transporte de mineral desde Stock Donoso a chancado en Mina Los Bronces." Tesis, Universidad de Chile, 2015. http://repositorio.uchile.cl/handle/2250/137281.
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Autor no autoriza el acceso a texto completo de su documento hasta el 31/8/2020.Ingeniera Civil en Minas
La faena Los Bronces se encuentra en plena cordillera de Los Andes a aproximadamente 3.600 m.s.n.m. La operación de la mina se ve afectada por las difíciles condiciones climáticas y geográficas que disminuyen la productividad de ésta. El objetivo principal de esta memoria consiste en plantear sistemas de transporte alternativos al actual (pala/camión) que permitan una continuidad operacional en la faena para un circuito Stock (ROM)/Chancado y su evaluación técnica y económica. La metodología para cumplir con lo anterior consistió en el análisis de 3 escenarios: simulación del caso base, factibilidad técnica y simulación de camiones autónomos y diseño de un sistema de transporte por correas. Los resultados de la simulación del caso base indican que se necesitan 2 camiones operando en este circuito para cumplir con el movimiento diario requerido por plan. Para los camiones autónomos en cambio se obtuvo que el cumplimiento del movimiento diario depende del número de veces que se detiene el camión en el circuito y se presentan otros problemas técnicos para su implementación al requerir un área cerrada para la operación de estos. Sin embargo, pese a lo anterior operar el circuito con 2 camiones autónomos en condiciones de mal tiempo (28 días al año) y el resto del año con operación manual sí genera un beneficio adicional, pero este sólo es un 8% mayor al del caso base en el mejor caso que es no detenerse nunca en el circuito. Por último, para el sistema de correas se tiene que se genera un VAN mayor en un 22% que el del caso base. Esto se debe a que los costos de operación son casi 5 veces menores en relación con los costos de operación del sistema pala/camión. Dado lo anterior, se concluye que un sistema de correas es una alternativa de transporte mejor que el sistema actual, sobre todo si se piensa en tener un sistema confiable que asegure la continuidad operacional. La elección y configuración del sistema de correas definitivo debe ser determinado en un estudio de factibilidad realizado por la empresa en cuestión, ya que este estudio sólo es a nivel conceptual.
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Vesterberg, Mattias. "The Stick or the Carrot : Modeling Reference Price Dependence and Loss Aversion in an Environmental Policy setting." Thesis, Umeå universitet, Nationalekonomi, 2012. http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-56810.
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Bandari, Swamy Devender Vamshi Krishna, and Sneha Adike. "Design and Performance of an Event Handling and Analysis Platform for vSGSN-MME event using the ELK stack." Thesis, Blekinge Tekniska Högskola, Institutionen för datavetenskap, 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:bth-17800.
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Data Logging is the main activity to be considered in maintaining a server or database in working condition without any errors or failures. Data collection can be automatic, so, no human presence is necessary. To store the data of logs for many days and visualizing became a huge problem in recent days. Coming to node SGSN-MME, which is the main component of the GPRS network, which handles all packet switched data within the mobile operator's network. A lot of log data is generated and stored in file systems on the redundant File Server Boards in SGSN-MME node. The evolution of the SGSN-MME is taking it from dedicated, purpose-built, hardware into virtual machines in the Cloud, where virtual file server boards fit very badly. The purpose of this thesis is to give a better way to store the log data and add visualization using the ELK stack concept. Fetching useful information from logs is one of the most important part of this stack and is being done in Logstash using its grok filters and a set of input, filter and output plug-ins which helps to scale this functionality for taking various kinds of inputs ( file,TCP, UDP, gemfire, stdin, UNIX, web sockets and even IRC and twitter and many more) , filter them using (groks,grep,date filters etc.)and finally write output to ElasticSearch. The Research Methodology involved in carrying out this thesis work is a Qualitative approach. A study is carried using the ELK concept with respect to Legacy approach in Ericsson company. A suitable approach and the better possible solution is given to the vSGSN-MME node to store the log data. Also to provide the performance and uses multiple users of input providers and provides the analysis of the graphs from the results and analysis. To perform the tests accurately, readings are taken in defined failure scenarios. From the test cases, a plot is provided on the CPU load in vSGSN-MME which easily gives the suitable and best promising way.
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Vaňková, Jitka. "Analýza vybrané firmy." Master's thesis, Vysoké učení technické v Brně. Fakulta podnikatelská, 2014. http://www.nusl.cz/ntk/nusl-224483.
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This Master‘s Thesis is focused on the analysis of the company Kovolit. It is a joint-stock company, which is engaged in industrial production - smithery, foundry. The aim of my thesis is to analyze a company and propose appropriate solutions to improve the situation. Among the analysis include: internal and external environment, Porter's model, fundamental and financial analysis. Lastly, the SWOT analysis. Before practical part is the theoretical section, witch includes the characteristics of these analysis. The outcomes are proposals to improve the efficiency, effectiveness and financial situation.
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Baptista, Felipe Derbli de Carvalho. "O Estado como investidor institucional: a disciplina jurídica de uma atuação estatal não interventiva na economia." Universidade do Estado do Rio de Janeiro, 2014. http://www.bdtd.uerj.br/tde_busca/arquivo.php?codArquivo=7922.
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Em um contexto de demandas sociais tendencialmente crescentes, uma das alternativas para o aumento da arrecadação de receitas pelo Estado reside no manejo de aplicações financeiras. Os investimentos financeiros estatais, a rigor, já acontecem, mas nem sempre o objetivo claro e explícito de obtenção de resultados financeiramente interessantes e, eventualmente ou mesmo por isso , sob gestão economicamente ineficiente. Às vezes, até se enxerga o foco na obtenção de rendimentos relevantes na ação estatal, mas sem uma disciplina específica, o que pode abrir espaço a uma gestão de ativos desqualificada ou mesmo fraudulenta, com sérios prejuízos aos cofres públicos e, em situações extremas, ampliação ainda maior das despesas públicas. O objetivo desta tese, portanto, é reconhecer que nem sempre o Estado atua na economia com propósito interventivo e que, na qualidade de investidor institucional vale dizer, de ente que tem o dever de proceder aos investimentos e às aplicações financeiras que digam com as melhores práticas de administração dos ativos públicos , precisa atuar sob o jugo de normas jurídicas claras, que permitam ao Estado ampliar suas receitas dentro de limites razoáveis de exposição a risco financeiro e disponibilizem aos órgãos de fiscalização e controle da Administração Pública as ferramentas necessárias para, também quanto a esse aspecto, aferir a eficiência da ação estatal. Para tanto, têm-se como pressupostos o anacronismo da resistência cultural às aplicações financeiras dos entes da Administração Pública e a noção de que quaisquer ferramentas de obtenção de receitas pelo Estado estão sujeitas a algum grau de risco. Com base nas bem-sucedidas experiências nacionais e internacionais, será possível concluir, ao final, que é admissível, do ponto de vista constitucional e legal, a ação do Estado como investidor nos mercados financeiro e de capitais e que é viável a formulação de parâmetros gerais para a disciplina jurídica do Estado investidor.In a context of growing social demands, financial investments become one of the alternatives for the State to increase its revenues. State investments, as a matter of fact, already do happen, but not always with the clear and explicit objective of obtaining financially interesting earnings, often due economically inefficient management. Sometimes it is possible to see in government investments some focus on obtaining relevant income, but not under a specific regulation, which can lead to an unqualified or even fraudulent management that may cause serious damage to the exchequer and, in extreme situations, expansion of the government spending. Hence the intent of this thesis is to acknowledge that the State does not always act in the economy with regulatory purposes and that, as an institutional investor i.e., an organization which has the duty of making financial investments in accordance to the best practices in public asset management , it must be framed by clear legal rules, which should allow the State to maximize its revenues within reasonable limits of financial risk exposure and the oversight and control agencies to assess the State efficiency and compliance. It is assumed that the cultural resistance to state financial investments is anachronistic as well as every state means of obtaining revenues is subject to some level of financial risk. Based on well succeeded experiences in Brazil and abroad, it will be possible to conclude, in the end, that it is constitutionally and legally admissible that the State acts as an investor in financial and stock markets and that it is possible to suggest some standards on legal regulation for this issue.
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Franz, Patillo Nicolás. "Stock de capital humano en Chile: Cálculo de su valor monetario en base a los Ingresos(1990-2006)." Tesis, Universidad de Chile, 2009. http://repositorio.uchile.cl/handle/2250/107979.
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La motivaci´on principal de este trabajo es encontrar el valor monetario del stock
de capital humano y su distribuci´on en la poblaci´on chilena. La importancia que
dicho factor ha adquirido en este ´ultimo tiempo hace imprescindible encontrar una
medida que capture la escencia de su definici´on la cual entenderemos como:
habilidades,
conocimientos, competencias y atributos incorporados en las personas que
facilitan la creaci´on de bienestar personal, social y econ´omico.
Para otener lo anterior, se desarrollar´a una estimaci´on del capital humano mediante
el enfoque de los ingresos y se ver´a que este ha crecido un 3.8% en promedio
anual desde el a˜no 1990 hasta el 2006. La trayectoria que se observa, muestra
incrementos
significativos en la primera mitad de la d´ecada de los noventas y una
evoluci´on err´atica la segunda mitad, alcanzando su “peak” (en todo el periodo de
an´alisis) el a˜no 1998 con un poco m´as de $1.650 billones para luego caer a $1.600
billones el a˜no 2000. Desde ese a˜no hasta el 2006, el crecimiento promedio reportado
es de un 0,34 %, llegando a $1.633 billones.
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Díaz, Orbegozo Jimmy Richard, Collana César Mamani, Rojas Carlo Cesar Angel Sancho-Dávila, and Francia Carlos Alberto Veliz. "Propuesta de mejora para reducir los quiebres de stock y los productos inmovilizados en una empresa comercializadora de equipos de protección personal en el Perú." Master's thesis, Universidad Peruana de Ciencias Aplicadas (UPC), 2018. http://hdl.handle.net/10757/624952.
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La presente tesis se desarrolla en la propuesta de dos factores que reducirían los quiebres de stock y por ende la venta perdida en el mercado de equipos de protección personal en el Perú. El primer factor, es mejorar la gestión de almacenes mediante la automatización de procesos, en la actualidad las empresas del sector mantienen procesos de alta operatividad, permitiendo optimizar las tareas dentro del área de almacenes y a su vez reducir tiempos de atención al cliente, considerado un factor clave para la cadena. Asimismo, para garantizar el buen desempeño de un sistema de gestión como un WMS, se plantea la estandarización de recursos, entre ellos la gestión de rotulados y de identificación por códigos de barra. Por otro lado, otro factor importante es conocer el comportamiento de demanda de los productos y anticiparse a la variabilidad del mercado, ello hace necesario se gestione el abastecimiento mediante una metodología que brinde mantener un stock oportuno que reduzca los quiebres y evite el sobrestock.The present thesis develops the proposal of two factors that would reduce the breakages of stock and therefore the lost sales in the market of personal protective equipment in Peru. The first factor is to improve warehouse management through the process automation; currently the companies in the sector maintain highly operational processes, allowing optimization of tasks on the warehouse and at the same time reducing customer service times, considered a key factor for the supply chain. Likewise, to ensure the good performance of a management system such as a WMS, the standardization of resources is proposed, including the management of labels and identification by bar codes. On the other hand, another important factor is to know the demand behavior of the products and anticipate the market variability, t this makes necessary to manage the supply through a methodology that provides a timely stock to reduce breaks and avoid overstock.
Trabajo de investigación
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Gatica, Quintanilla Loretto Monserrat. "Estudio del comportamiento de los clientes frente a un quiebre de stock y su impacto económico en un supermercado." Tesis, Universidad de Chile, 2014. http://www.repositorio.uchile.cl/handle/2250/117001.
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Ingeniera Civil IndustrialLa determinación de los niveles adecuados de servicio en góndola requiere equilibrar los costos de inventario y reposición con el beneficio de tener una mayor disponibilidad del producto para los clientes. Por lo general los costos de inventario son medibles, en cambio los relacionados con los quiebres de stock (Out Of Stock OOS por sus siglas en inglés) son menos visibles y más difíciles de medir. El objetivo de este trabajo es cuantificar el impacto económico asociado al comportamiento del consumidor frente a los quiebres de stock. En específico, se estudia aquellos cambios de conducta de corto plazo que tiene el cliente en la misma compra y en la siguiente a la que se enfrentó al OOS, dentro de la categoría pan y en la categoría complementaria fiambrería. Para ello se utiliza una base de datos de panel con 2.637 clientes, los que realizaron un total de 24.751 transacciones durante aproximadamente un mes y medio. Estos datos tienen información de punto de venta y de la disponibilidad de los productos que enfrentó el cliente al momento de realizar la compra. La información de quiebres de stock es capturada por cámaras que miden cada 30 minutos los niveles de disponibilidad de los distintos panes de la sección pan a granel. Para inferir si los clientes se enfrentaron a un quiebre de stock al momento de comprar, se realiza un cruce de información entre las mediciones de cámaras y las transacciones en el punto de venta utilizando la hora en la que el cliente realizó la transacción en caja. Con la información anterior, se desarrollan modelos de elección discreta, específicamente el modelo mixed logit, que incorporan heterogeneidad en las preferencias de clientes para estimar los efectos causados por el OOS dentro de la categoría pan y regresiones lineales para calcular los efectos cruzados en las ventas de otras categorías. Esta heterogeneidad es importante para que el modelo tenga flexibilidad suficiente para capturar patrones de sustitución entre productos. El principal resultado obtenido es que los quiebres de stock en una categoría no sólo disminuyen las ventas de ésta, sino también las de las categorías complementarias. Produciéndose la mayor pérdida para el supermercado cuando la hallulla y la marraqueta no están disponibles, disminuyendo las ventas de la panadería en un 2,9% y en un 0,31% las de la fiambrería. La suma de esta pérdida asciende a los US$ 313.480. Otro resultado interesante es la subestimación de elasticidad precio cuando se ignoran los OOS. Además, la lealtad de los clientes disminuye en importancia al incorporar la existencia de OOS intertemporal y contextual. El conocer los efectos económicos que genera una baja en el nivel de disponibilidad de los productos le permite a la empresa determinar las estrategias de reposición óptimas que deben implementar. Como trabajo futuro se sugiere analizar los efectos de largo plazo que puede producir un OOS en el comportamiento del cliente a través de modelos que incorporen cambios estructurales en las preferencias del consumidor, tal como las cadenas de Markov ocultas (Hidden Markov Models).
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Pérez, Vargas Viktor Dave. "Propuesta de mejora para evitar los quiebres de stock de un supermercado focalizado en el formato de tiendas por descuento." Bachelor's thesis, Universidad Peruana de Ciencias Aplicadas (UPC), 2013. http://hdl.handle.net/10757/273464.
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Alor, Salomé Erick Dante, Martínez Edwin Elías Aparicio, Figueroa María Laura Calatayud, and Blas Doris Jenny Rojas. "Reducción de stock en los almacenes de repuestos en una empresa que fabrica cajas de cartón corrugado, aplicando metodología Six Sigma." Master's thesis, Universidad Peruana de Ciencias Aplicadas (UPC), 2015. http://hdl.handle.net/10757/337997.
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La tesis describe la situación actual de inventario de repuestos de la empresa
en estudio y expone las posibles causas que originaron el alto costo de estos
en el almacén y los principales problemas que lo originan.
Se empieza analizando la situación actual de los tres principales almacenes de
la empresa, almacén de Insumos, Almacén de materia prima y almacén de
repuestos y se detecta que el caso de los repuestos se tiene 51% del valor de
los repuestos no ha tenido una rotación mayor a un año y solo el 19% del
valor de los repuestos ha tenido una rotación en los últimos tres meses.
Determinada la oportunidad de mejora, se analiza la distribución de estos
repuestos en valor monetario. Se plantea la aplicación de la mejora utilizando
la metodología Six Sigma (DMAIC) debido a la alta variabilidad de cómo se
originan las solicitudes de repuestos. Aparte de esta herramienta de solución
de problemas nos ayudamos con un análisis ABC para determinar el 20 % de
los materiales de repuestos que más nos impactan en el 80% costo.
Vemos la complejidad que origina la gestión del inventario de repuestos para
ello se recurre a las herramientas de Lean Six Sigma y de un análisis
multicriterio para la selección de los repuestos y así realizar una mejor gestión
de estos.
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Weber, Moritz. "Die Haftung des Analysten für fehlerhafte Wertpapieranalysen /." Lohmar [u.a.] : Eul, 2006. http://deposit.d-nb.de/cgi-bin/dokserv?id=2859686&prov=M&dok_var=1&dok_ext=htm.
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Goisque, Guillaume. "Optimization methods for multi-level lot-sizing problems." Thesis, Université de Lorraine, 2017. http://www.theses.fr/2017LORR0188/document.
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Dans cette thèse nous nous intéressons à plusieurs problèmes de gestion de stocks, à travers des modèles de dimensionnement de lots sur plusieurs niveaux, en tenant compte de capacités de production. Nous étudions tout d’abord un problème de dimensionnement de lots à deux niveaux en série avec des capacités de production identiques et stationnaires aux deux niveaux, pour lequel proposons un algorithme dynamique exact pouvant résoudre le problème en temps polynomial sous certaines hypothèses. Dans le chapitre suivant nous étendons ce résultat dans deux directions : nous considérons le problème de gestion de stocks sur un nombre quelconque de niveaux en série, et nous considérons des livraisons par lots. Nous présentons un algorithme exact de résolution, polynomial et très efficace, basé sur une décomposition originale en composantes connexes induites. Nous considérons ensuite des versions plus générales de ce problème, en établissant des résultats de NP-complétude lorsque chaque niveau à une capacité ou une taille de lot différentes. Nous proposons pour ces problèmes une 2-approximation, basé sur l’encadrement de la fonction objectif par deux fonctions affines. Pour finir nous étudions un problème sur un seul niveau mais dans un système de production composé de machines identiques fonctionnant en parallèle. L’originalité de ce problème est de considérer une limitation de la consommation énergétique. A chaque période, on doit décider combien de machines allumer ou éteindre, et quel volume produire et stocker. Des résultats de complexité sont proposés, montrant que ce problème est NP-difficile même sous des hypothèses fortes, et un algorithme dynamique exact est présenté pour le cas de paramètres d’énergie stationnairesIn this thesis we are interested in several multi-level lot-sizing problems taking into account production capacities. We first study a 2-level in series lot-sizing problem with identical and stationary capacities at both levels, for which we propose an exact dynamic algorithm running in polynomial time under some hypothesis. Next chapter extends this result on two main lines: we consider the multi-level in series lot-sizing problem with batch deliveries and with a number of level which is part of the input. We provide a very efficient exact algorithm for this problem, which is polynomial in the number of levels and in the number of periods, based on an original decomposition into induced connected components. Then, we consider more general versions of this problem, for which we provide NP-hardness results when batch sizes or capacities are level-dependent. We propose 2-approximation algorithms for these problems, based on the sandwiching of the objective function by two affine functions. Finally, we study a single-level lot-sizing problem in a system composed of identical machines working in parallel. The originality of this study is to consider a periodic energy limitation. At each period it must be decided how many machines to switch on or off and the volume to be produced and stored. Complexity results are provided, showing that this problem is NP-hard, even under some restrictive assumptions, and an exact dynamic algorithm running in polynomial time is proposed for the case of stationary energy parameters
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Nilsson, Sara, and Jennifer Ramare. "What does it cost to invest with preferences? : What does investors lose/gain on investing in sin-stocks versus SRI investing?" Thesis, Högskolan Väst, Avd för juridik, ekonomi, statistik och politik, 2021. http://urn.kb.se/resolve?urn=urn:nbn:se:hv:diva-17337.
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This paper analyses the difference in risk-adjusted returns between Sin-stocks and SRI-investing for the period 2001-2021. The analysis was conducted by creating two optimally risky portfolios according to the Modern Portfolio Theory, one comprised of only Sin-stocks and one with only high ESG scoring companies. The Sin-stocks contained stocks from four different sectors, alcohol, gambling, tobacco and weapons while the companies for the SRI-portfolio was chosen from the FTSE4Good index. The regression models were chosen to follow both the CAPM, and the Fama & French three factor model and the regressions were in the end conducted with the GARCH model which showed results that both the SRI-portfolio and the Sin-portfolio had a general excess return over the market. The two portfolios were also compared with the help of Sharpe Ratio and Jensen’s Alpha. The Sharpe ratio as well as the Jensen’s Alpha showed that the Sin-portfolio had the highest risk-adjusted returns. In conclusion, the SRI-portfolio as well as the Sin-portfolio both outperformed the market during the time period 2001-2021 and they were both less volatile than the market.
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Subirà, Lobera Esther. "Los "segundos mercados" de valores: presente y futuro del segundo mercado de valores de la Bolsa de Barcelona." Doctoral thesis, Universitat de Barcelona, 1990. http://hdl.handle.net/10803/667753.
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La tesis consta de tres partes. La primera se inicia partiendo de una visión global del sector financiero de la economia y en ella se estudia la evolución de que el mismo ha sido objeto para centrar nuestro tema de estudio: los mercados de valores en general y los "segundos mercados" en particular. Con la iniciativa de su creación se consigue el eslabón necesario para disponer de un sistema financiero capaz de responder adecuadamente a todas las necesidades sentidas de manera eficiente y sin incurrir en agravios comparativos. En España, también se han organizado este tipo de mercados, pero la experiencia demuestra que, hoy por hoy, no son excesivamente exitosos.
Para averiguar las causas de esta situación, la segunda parte de la tesis aborda un estudio empírico realizado en base a una población de empresas de tamaño diverso ubicadas en Cataluña cuyo denominador común es la no participación en el mercado de valores y además en base a aquellas empresas que ya están cotizando en el segundo mercado de valores de la Bolsa de Barcelona, sin restricciones de territorialidad; los resultados obtenidos dan paso a la tercera parte del estudios y demuestran que, en primer lugar, no se conoce suficientemente bien el mercado de valores; en consecuencia, existe cierto recelo por parte de las empresas en valorar sus ventajas, y en segundo lugar, el "segundo mercado" es un perfecto desconocido, no tanto para los expertos financieros, pero sí para los potenciales inversores.
Por todo ello se sugiere una campaña de información y realizar algunos ajustes de tipo fiscal que permitan potenciar su ulterior desarrollo.
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Bernoux, Martial. "Stocks de carbone des sols de l’Amazonie occidentale et leur dynamique lors de la conversion de la foret en pâturage." Orléans, 1998. http://www.theses.fr/1998ORLE2004.
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L’objectif de ce travail est l'évaluation des stocks de carbone (C) des sols de l’Amazonie occidentale et de leur dynamique lors de la conversion de la foret en pâturage. Le calcul des stocks de c, sur une épaisseur donnée de sol, nécessite la connaissance des teneurs en c et des densités apparentes (DA) pour l'ensemble des horizons considérés. Or, les DA sont très souvent absentes dans les études antérieures, ainsi que les teneurs en C pour certain nombre d'horizons. Il a donc fallu construire des outils permettant leur estimation. La DA a été estimée à l'aide de régressions multiples à partir d'autres caractéristiques édaphiques, pour des données disponibles concernant 323 horizons de sol. Les teneurs en argile et en C sont les meilleurs paramètres pour estimer la DA. Le problème des données manquantes de C est résolu par l'utilisation d'équations de type puissance ou exponentiel pour modéliser la distribution du C avec la profondeur. Les résultats montrent que les deux modèles sont bien adaptes à ces sols. Toutefois, l'intérêt du modèle exponentiel est double : il permet des estimations plus précises ainsi que de valoriser beaucoup plus de données existantes. Les stocks de C ont été calculés pour une région de 334. 000 km2. Les valeurs obtenues s'avèrent être similaires, entre 2100 e 2400 tg C. L'approche géostatistique fournit une valeur de 2220 tg C avec une erreur de 13%, contre 40% pour les approches cartographiques. La dynamique du C est étudiée pour la conversion de la foret en pâturage à l'aide du traçage naturel en 13C et la modélisation selon des modèles à 1 ou 2 compartiments. Le modèle à un compartiment a été retenu car beaucoup plus précis. Il conduit à estimer un temps moyen de résidence (TMR) du C provenant de la foret initiale de 18 ans pour la couche 0-5 cm, et de 56 ans pour celle 20-30 cm. Quant au C introduit par le pâturage, celui-ci possède un TMR de 5 à 6 ans, quelle que soit la couche analysée.
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Kolev, Gueorgui I. "Behavioural Biases and Chief Executive Officers Compensation." Doctoral thesis, Universitat Pompeu Fabra, 2009. http://hdl.handle.net/10803/7408.
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Esta tesis consiste de tres ensayos. En el primero, documentamos la correlación imaginaria entre las decisiones de compensación de los ejecutivos (CEO) al demostrar que el hándicap de los ejecutivos que juegan al golf no está correlacionado con su desempeño en la empresa mientras que sí lo está con su compensación. Los golfistas ganan más que los que no juegan al golf, y las pagas se incrementan con la habilidad en este juego. En el segundo ensayo explicamos la reciente espiral de las compensaciones de los ejecutivos basados en el sesgo de atribución fundamental. El análisis de las series temporales agregadas y de datos de sección cruzada correspondiente a la burbuja del mercado accionario en los noventa sugiere que los accionistas exageran al atribuir las subidas y bajadas de los precios de las acciones corporativas a las aptitudes de liderazgo del ejecutivo mientras que subestiman el rol de las fluctuaciones del mercado accionario que se encuentran fuera del control de estos. En el tercer ensayo demostramos que un gran número de Ofertas Públicas Iniciales predice sistemáticamente, tanto dentro como fuera de la muestra, el subsiguiente bajo rendimientos agregado y ponderado, y la diferencia de rendimientos entre las pequeñas y grandes firmas.This thesis consists of three essays. In the first, we document illusory correlation in CEO compensation decisions by demonstrating that golf handicaps of CEOs are uncorrelated with corporate performance, but related to CEO compensation. Golfers earn more than non-golfers and pay increases with golfing ability. In the second essay we propose a fundamental attribution bias-based explanation of the recent explosive growth in CEO pay. Analysis of aggregate time series data and cross sectional data from the late 1990s stock market bubble period suggests that shareholders overattribute prominent increases and decreases in the prices of corporate stocks to the leadership and skill of the CEOs and underestimate the role of stock market fluctuations that are beyond CEO control. In the third essay we show that increases in the number of Initial Public Offerings reliably predicts in-sample and out-of-sample decreases in subsequent equally weighted aggregate stock returns and the return differential between small and big firms.
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Long, Zhiming. "Growth, institutions and "socialist transition with chinese characteristics"." Thesis, Paris 1, 2017. http://www.theses.fr/2017PA01E043/document.
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Cette thèse commence par souligner les contextes et les difficultés d'analyse de l'économie chinoise : la première difficulté est la particularité de la Chine qui est également référencée comme «socialisme avec des caractéristiques chinoises», qui comprend le contexte culturel unique et la langue, la nature de l'économie, le manque de données, et les changements institutionnels fréquents. La deuxième difficulté est l'insuffisance des modèles de croissance économique modernes. En outre, les chercheurs souffrent également des problèmes économétriques généraux de la modélisation macroéconomique, par exemple le problème de petit échantillon, la faible identification et l'estimation sensible pour la stationnarité des séries et paramètres tronqués. Par conséquent, nous devons trouver et travailler dans un cadre approprié. Cette thèse montrera l'insuffisance des modèles de croissance économique dominante pour expliquer la croissance économique de la Chine et la nécessité de sortir du cadre néoclassique. L'analyse se tourne progressivement vers les approches marxistes et se concentre sur l'analyse des taux de profit. [...]Cette thèse propose quelques éléments de réflexion méthodologique sur le thème de la croissance de l’économie chinoise dans la longue période. À partir de données statistiques officielles chinoises retravaillées, nous reconstruisons des séries temporelles de stocks de capital physique les plus longues possibles, soit de 1952 à 2014, de façon à remonter au plus près de la date de formation de la République populaire et étendre cette base de données jusqu’au présent, pour tenir compte des derniers annuaires statistiques publiés en 2016. Nous testons ces nouvelles données afin d’estimer les contributions des facteurs de production à la croissance dans un cadre théorique néoclassique, en soulignant les limites de tels modèles – problématiques, car selon nous indépassables. [...] L'auteur a prédit les valeurs de certaines variables économiques de 2015. L'auteur prédit que le taux de profit continuera à baisser même s'il est déjà faible dans 2014. Si le taux de profit continue à baisser, les marxistes pourraient soutenir qu'une crise se produira à l'avenir. Toutefois, l'argument est cohérent avec les faits qu'une crise financière sur le marché boursier se produira en 2015 et 2016. La prévision pour la croissance économique est également très réussie. En outre, l'auteur a également étendu la décomposition économique des taux de profit. L'auteur a proposé trois décompositions différentes puis appliqué un filtre à ces composants. Les cycles économiques et les crises ont été confirmés avec une perspective marxiste reviséeThe rise of emerging economies and their increasing contributions to the world’s economy has led to the development of the science of economics. China is a typical representative of emerging market economies. This economic phenomenon pushes the development of economic growth theory, and the problems in empirical analyses also promote econometric techniques. Though China is still a developing country, China has successfully dragged itself out of absolute poverty. Is the technique of China’s economic development an alternative method for the struggle against the poverty of other poor countries? With the lack of modern international standard data, the empirical analyses of modern economic growth theories in the literature are generally focused on the period after the opening-up reform in 1978 or the period after the fiscal reform in 1993. In this thesis, the author attempts to extend the vision, by further analyzing China’s economy using modern economic approaches since the foundation of the People’s Republic of China in 1949. Alongside the wave of privatization, marketization, and liberalization in the countries of the former Soviet Union, socialist countries, and developing countries, China has also begun its economic reform since 1978 in which it has achieved great economic success. Chinese policymakers themselves contribute the rapid economic growth to the success of the institutional choice. For instance, Hu Jintao’s report at the 17th Party Congress (2007) has the following assertion: “To sum up, the fundamental reason behind all our achievements and progress since the reform and opening up policy was introduced is that we have blazed a path of socialism with Chinese characteristics and established a system of theories of socialism with Chinese characteristics.” However, what does the so-called “socialism with Chinese characteristics” really mean? How does it work on the path of economic growth? All those interesting questions incite this thesis to explore the answers. [...]
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Bazán, Ramírez Wilfredo. "Aplicación de modelos condicionados a su pasado para pronosticar los precios de las acciones de Telefónica cotizadas en la New York Stock Exchange (NYSE)." Doctoral thesis, Universidad Nacional Mayor de San Marcos, 2021. https://hdl.handle.net/20.500.12672/16223.
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Los instrumentos financieros como el precio de las acciones poseen
desenvolvimientos volátiles que ocasionan inquietudes en todo tipo de
inversionistas. Por su estructura de datos, el precio de las acciones pertenece
a las series de tiempo, porque toma valores en la línea del tiempo. Los
inversionistas buscan rentabilidades cuando invierten en instrumentos
financieros, razón por lo cual necesitan entender su comportamiento y
pronosticarlos con el mínimo error posible, es en esta parte cuando se
presentan dos enfoques predictivos diametralmente opuestos; una de estas
posiciones, sostiene que el precio de las acciones tiene patrones repetitivos a
lo largo del tiempo, y que la información del pasado es útil para realizar
predicciones, concluyendo que estos patrones se repetirán en el futuro, sin
embargo, sus detractores argumentan que esto no es posible, dado el
comportamiento eficiente del mercado que captura toda la información,
también el precio de las acciones, presenta caminatas aleatorias que dificulta
o hace imposible su predicción a partir del pasado por su misma naturaleza
de tener un comportamiento errático. La presente investigación, sostiene que
si es posible pronosticar el precio de las acciones de Telefónica que se cotizan
en New York Stock Exchange (NYSE) a partir de su pasado con la
metodología Box y Jenkins o autorregresivo integrado de promedio móvil
(ARIMA) y los modelos de la familia ARCH/GARCH. Estos modelos
econométricos se caracterizan por su robustez al momento de modelar y
pronosticar rentabilidades y volatilidades de series de tiempo univariados.
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Baldeón, Zapata Andrea Lucía, and Pino Liliana Victoria Bazán. "Relación entre la Responsabilidad Social Empresarial y el Gobierno Corporativo y los principales indicadores financieros de las empresas que han cotizado en la Bolsa de Valores de Lima durante el periodo 2013 - 2017." Bachelor's thesis, Universidad Peruana de Ciencias Aplicadas (UPC), 2020. http://hdl.handle.net/10757/651936.
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La Responsabilidad Social Empresarial y el Gobierno Corporativo han tomado gran importancia hoy en día en el Perú, estos hacen referencia a los Objetivos de Desarrollo Sostenible de la Agenda 2030 de las Naciones Unidas, los cuales buscan alinear a los países en temas de relevancia mundial.
Anualmente, las empresas en el Perú se posicionan en diversos rankings y distintivos en Responsabilidad Social y Gobierno Corporativo como Great Place to Work, Distintivo Empresa Socialmente Responsable - Perú 2021, Monitor Empresarial de Reputación Corporativa - MERCO y La Llave de la Bolsa de Valores de Lima (BVL). Algunos posicionan a las empresas en el aspecto financiero. En este aspecto, la BVL detalla mayor información sobre la medición de la rentabilidad de las empresas por medio de ratios financieros como el ROE, ROA, ROS y PER.
Teniendo en cuenta lo mencionado, se planteó la siguiente pregunta: ¿Existe relación entre la Responsabilidad Social Empresarial y el Gobierno Corporativo de las empresas que cotizan en la Bolsa de Valores de Lima y, sus principales indicadores financieros de rentabilidad?
Para responderla, se tomó los estados financieros de las empresas que cotizan en la BVL durante el periodo comprendido entre el 2013 y 2017 y, se realizó un análisis estadístico y econométrico con las empresas también presentes en el Ranking MERCO de Responsabilidad Social y Gobierno Corporativo, puesto que dentro de su análisis considera información financiera.
Se concluye que el modelo econométrico presentado no es viable ya que existe una baja relación entre las variables. Se recomienda para próximos estudios ahondar en otros factores que motivan a las empresas a tener Responsabilidad Social y Gobierno Corporativo.The Corporate Social Responsibility and Corporate Governance have taken on great importance today in Peru, as they refer to the Sustainable Development Goals of the United Nations 2030 Agenda, which seeks to align countries on issues of global relevance. Annually, companies in Peru are positioned in various rankings and distinctions in Social Responsibility and Corporate Governance, such as Great Place to Work, Socially Responsible Company Distinctive - Peru 2021, the Business Corporate Reputation Monitor - MERCO and The Key of the Stock Exchange of Lima (BVL). Some of them position companies in the financial aspect. In this regard, the BVL details more information profitability management of companies through financial ratios such as ROE, ROA, ROS, and PER. Taking into account the aforementioned, the following question was posed: Is there a relationship between Corporate Social Responsibility and Corporate Governance of the companies listed on the Lima Stock Exchange and their main financial indicators of profitability? To answer it, the financial statements of the companies listed on the BVL during the period between 2013 and 2017 were taken and a statistical and econometric analysis was made with the companies also present in the MERCO Ranking of Social Responsibility and Corporate Governance, as it considers financial information within its analysis. It is concluded that the econometric model presented is not viable since there is a low relation between the variables. It is recommended for future studies to delve into other factors that motivate companies to have Social Responsibility and Corporate Governance.
Tesis
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Talledo, Barreto Angie Pierina. "Propuesta de mejora de la gestión de inventarios en la empresa Optimus Motor S. A. C. para minimizar los ingresos no percibidos." Bachelor's thesis, Universidad Católica Santo Toribio de Mogrovejo, 2020. http://hdl.handle.net/20.500.12423/2998.
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La presente investigación se centra en la problemática identificada en la empresa Optimus motor S. A. C. que ofrece dos tipos de servicio, el mantenimiento de motos lineales y la venta de repuestos y accesorios multimarcas, enfocando la investigación en la última. El principal problema que enfrenta la empresa son los ingresos no percibidos que representan un 20,42% de las ventas totales anuales, debido a una deficiente gestión de inventarios que se refleja en roturas de stocks por la inexactitud de los inventarios a causa de compras empíricas, así mismo la pérdida de oportunidad de ventas, dinero inmovilizado, bajo nivel de servicio, desorden y falta de organización en el almacén.
Es por ello que se realizó un diagnóstico de la situación actual de la empresa, para conocer de manera más precisa los indicadores que representan los ingresos no percibidos en la empresa, así mismo la identificación de problemas mediante un diagrama Ishikagua y un análisis ABC de los productos, posteriormente se seleccionó el modelo de gestión de inventarios más adecuado para la empresa, el cual fue un modelo P, así mismo se elaboró la propuesta del modelo de gestión de inventarios, se propone realizar un plan de capacitación para el personal, mejorar los procesos logísticos, establecer políticas de inventarios y un plan para implementar las 5S en almacén.
Finalmente se tiene que si las propuestas mencionadas se llegan a desarrollar en la empresa el porcentaje de los ingresos no percibidos sería de 14,18 % representando una evidente disminución, así mimo realizamos un análisis costo-beneficio, obteniendo un valor de S/. 14 323,35 como beneficios de las propuestas y que por cada sol invertido se obtiene una ganancia de 0,92 soles.
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Iparraguirre, Marco, Carlos Gozzer, Edwin Diaz, and Salazar Eliseo Jose Yauyo. "Propuesta para mejorar el proceso de planificación de la cadena de suministro para reducir el stock out en la entrega de los pedidos de venta para una empresa de bebidas de consumo masivo." Master's thesis, Universidad Peruana de Ciencias Aplicadas (UPC), 2013. http://hdl.handle.net/10757/651677.
Full textAbstract:
En el presente capitulo se tiene como objetivo establecer el marco teórico que sirva de base para comprender los conceptos utilizados en el desarrollo de la investigación propuesta.
Para lo cual se abordaran conceptos y características de la Planificación de la Demanda, que nos permite entender el inicio de la actividad de planificación de la cadena de suministro frente al requerimiento y pedido del cliente, Planificación de la Producción, en donde se contemplan los requerimientos, necesidades, recursos y restricciones que se tienen en el proceso productivo y el beneficio de contemplarlo en el proceso de planificación.
También se abordaran conceptos de cadena de suministro dado que la investigación desarrollada está alineada a impactar favorablemente en ella, herramientas de mejora continua y gestión por procesos enfocados a entender la importancia de evaluar la organización por procesos y el continuo mejoramiento del mismo que permita organizaciones consolidadas impactando cada vez más en la satisfacción del cliente.Tesis
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Caballero, Espejo Jorge Armando. "Stocks de carbono y tipos de vegetación de los bosques húmedos de la Amazonia suroccidental del Parque Nacional del Manu, Perú." Bachelor's thesis, Universidad Nacional Mayor de San Marcos, 2016. https://hdl.handle.net/20.500.12672/4972.
Full textAbstract:
El diseño de los planes de conservación regional y la protección de áreas naturales empieza con la creación de mapas de vegetación. Sin embargo, muchos de los mapas de vegetación para la Amazonia carecen de precisión, limitando el desarrollo de estrategias efectivas y convincentes de conservación. En este estudio se usaron imágenes registradas por el sensor OLI del satélite Landsat-8, modelos de elevación digital (SRTM) y mapas temáticos de carbono, para identificar los patrones de vegetación y los stocks de carbono sobre el suelo de la Amazonía suroccidental del Parque Nacional del Manu. Primero se clasificaron los tipos de vegetación en siete clases dentro de dos unidades fisiográficas (tierra firme y planicie aluvial). Se usó el método de clasificación de árbol de decisiones empleando la topografía (pendiente, elevación) y datos de cobertura fraccional (VF, VNF y S) resultantes del procesamiento de las imágenes del sensor OLI, como datos de entrada. El mapa final fue evaluado tomando puntos de control de campo y puntos de referencia de imágenes satelitales de alta resolución. La precisión global del mapa de vegetación fue de 73% y el índice kappa (0.64) mostró una considerable correlación de la exactitud del mapa producido con la realidad. Por último, la estimación de carbono sobre el suelo mostró que los stocks más grandes se encuentran en los bosques de colinas de la llanura amazónica (tierra firme) y bosques maduros de tierras inundables (planicie aluvial), entre ambos comprenden el 97.6% del total de los stocks de carbono sobre el suelo de los siete tipos de vegetación evaluados. Nuestros resultados muestran que los datos SRTM e imágenes del sensor OLI del Landsat-8 pueden ser usados para mapear los bosques amazónicos suroccidentales con una considerable efectividad y con costos reducidos, por lo cual, llegan a ser útiles para los planes de protección y conservación.Tesis
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Fajardo, Aleman Marlon Antonio. "Propuesta de mejora de la gestión de inventarios para minimizar los ingresos no percibidos en la empresa MBN Exportaciones Lambayeque & Cia S. R. L." Bachelor's thesis, Universidad Católica Santo Toribio de Mogrovejo, 2019. http://hdl.handle.net/20.500.12423/3026.
Full textAbstract:
La presente investigación tuvo como objetivo proponer una mejora en la gestión de inventarios para minimizar los ingresos no percibidos en la empresa MBN EXPORTACIONES LAMBAYEQUE & CIA S.R.L. la cual se dedica a la elaboración de dulces tradicionales, dentro de ellos el Alfajor Gigante. Para ello se realizó un diagnóstico de la empresa, identificando las causas que más influyen en los pedidos no atendidos mediante la toma y análisis de datos obtenidos a través de visitas técnicas, siendo la principal causa el desabastecimiento de cajas y etiquetas representando el 60% de los ingresos no percibidos. Luego se evaluó las herramientas mediante una matriz de enfrentamiento, matriz de asignación de puntaje y matriz de ponderación, obteniendo como propuestas: el modelo de revisión periódica que reduce un 7,31% los ingresos no percibidos, la adquisición de un Software ERP que mejora la gestión de inventarios, elaboración de un MOF que permite contar con personal capacitado. Además, la adquisición de estructura metálica que reduce 5,13% los ingresos no percibidos y un nuevo método apilamiento de insumos (Huevos) para la reducción de pérdidas monetarias. Al final se analizó el costo-beneficio de las propuestas de mejora de la gestión de inventarios, teniendo un TIR de 132%, el cual es mayor al TMAR cuyo valor es de 9,79%, un VAN de S/124 958,32 y un costo – beneficio de 3,25, el decir que por cada sol invertido se gana 2,25 soles.
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Lalupu, Purisaca Carlos Cesar. "Mejora de los procesos logísticos para reducir las devoluciones de despachos en la empresa Almacenera Huancar S.A.C." Bachelor's thesis, Universidad Católica Santo Toribio de Mogrovejo, 2019. http://hdl.handle.net/20.500.12423/2614.
Full textAbstract:
ALMACENERA HUANCAR S.A.C es una empresa dedicada a la comercialización y distribución de productos de consumo masivo en canal mayorista, la cual presenta pérdida de utilidades a causas de despachos devueltos. Estas devoluciones se dan principalmente a tres causas: despachos incompletos, causantes del 35,34% de las devoluciones; fechas de vencimiento cercanas, las cuales generan el 14,43% de despachos rechazados y los pedidos mal registrados que generan un 15,84% de las devoluciones. En la presente investigación se plantearon tres objetivos específicos, en el primero, se diagnosticó la situación actual de la empresa, determinando las principales causas que generan las devoluciones, describiendo los procedimientos logísticos actuales y determinando la cantidad de pedidos devueltos. Como segundo objetivo, se propuso la mejora de los procesos logísticos, la implementación de un sistema de información, el contrato de nuevo personal como el jefe de compras y asistente de almacén, además de implementar un MOF. Finalmente, se realizó un análisis costo-beneficio de la propuesta. Con la propuesta de mejora, y recuperando el 47,25% de las devoluciones, se obtuvo un costo-beneficio de 2,34 soles, es decir que, por cada sol invertido, se obtiene una ganancia de S/ 1,34. Con un periodo de recuperación de 5 meses, 19 días.Tesis
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Salgado, Muñoz-Nájar Matias. "Propuesta de un Sistema de Gestión de Stocks para los Insumos del Área de Pastelería de una Empresa de Servicios de Alimentos." Master's thesis, Universidad Peruana de Ciencias Aplicadas (UPC), 2017. http://hdl.handle.net/10757/622783.
Full textAbstract:
Este trabajo de investigación aplicada explora las consideraciones tomadas en cuenta para proponer un Sistema de Gestión de Stocks en el área de pastelería de una empresa de servicios de alimentos. El documento resume el marco teórico que define los conceptos básicos sobre inventarios, sus características, sus tipos y costos relacionados, así como también, los conceptos básicos de compras y las herramientas asociadas a estos. Posteriormente, se hace una breve descripción de la empresa estudiada y se muestra el diagnóstico realizado donde se detallan la disminución en los últimos años del índice de rotación de los inventarios así como también del aumento progresivo del valor de los inventarios finales. Luego se pasa a la evaluación de alternativas de solución donde se proponen dos modelos de compras para disminuir el stock. Por último, se desarrollan las conclusiones que son el resultado del estudio de mejora.