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Examinando por Autor "Arguedas Sanz, Raquel"

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    A comparison of market risk measures from a twofold perspective: accurate and loss function
    (Elsevier, 2023-06-04) Benito Muela, Sonia; López Martín, Carmen; Arguedas Sanz, Raquel
    Under the new regulation based on Basel solvency framework, known as Basel III and Basel IV, financial institutions must calculate the market risk capital requirements based on the Expected Shortfall (ES) measure, replacing the Value at Risk (VaR) measure. In the financial literature, there are many papers dedicated to compare VaR approaches but there are few studies focusing in comparing ES approaches. To cover this gap, we have carried out a comprenhensive comparative of VaR and ES models applied to IBEX-35 stock index. The comparison has been carried out from a twofold perspective: accurate risk measure and loss functions. The results indicate that the method based on the conditional Extreme Value Theory (EVT) is the best in estimating market risk, outperforming Parametric method and Filter Historical Simulation.
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    A cryptocurrency empirical study focused on evaluating their distribution functions
    (Elsevier, 2022-02-14) López Martín, Carmen; Arguedas Sanz, Raquel; Benito Muela, Sonia
    This paper thoroughly examines the statistical properties of cryptocurrency returns, particularly focusing on studying which is the best statistical distribution for fitting this type of data. The preliminary statistical study reveals (i) high volatility, (ii) an inverse leverage effect, (iii) skewed distributions and (iv) high kurtosis. To capture the nonnormal characteristics observed in cryptocurrency data, we verified the goodness of fit of a large set of distributions, both symmetric and skewed distributions such as skewed Student-t, skewed generalized t, skewed generalized error and the inverse hyperbolic sign distributions. The results show that the skewed distributions outperform normal and Student-t distributions in fitting cryptocurrency data, although there is no one skewed distribution that systematically better fits the data. In addition, we compare these distributions in terms of their ability to forecast the market risk of cryptocurrencies. In line with the results obtained in the statistical analysis, we find that the skewed distributions provide better risk estimates than the normal and Student-t distributions, both in short and long positions, with SGED being the distribution that provides better results.
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    An application of extreme value theory in estimating liquidity risk
    (Elsevier, 2017-12) Benito Muela, Sonia; López Martín, Carmen; Arguedas Sanz, Raquel
    The last global financial crisis (2007–2008) has highlighted the weaknesses of value at risk (VaR) as a measure of market risk, as this metric by itself does not take liquidity risk into account. To address this problem, the academic literature has proposed incorporating liquidity risk into estimations of market risk by adding the VaR of the spread to the risk price. The parametric model is the standard approach used to estimate liquidity risk. As this approach does not generate reliable VaR estimates, we propose estimating liquidity risk using more sophisticated models based on extreme value theory (EVT). We find that the approach based on conditional extreme value theory outperforms the standard approach in terms of accurate VaR estimates and the market risk capital requirements of the Basel Capital Accord.
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    Análisis de las duplicidades en la Administración General de la Comunidad de Castilla y León. Propuesta de reorganización eficiente de los centros directivos
    (Universidad Nacional de Educación a Distancia (España). Facultad de Derecho, 2019-03-07) Emperador Velasco, Alberto; Rodrigo Moya, Beatriz; Arguedas Sanz, Raquel
    El informe de la Comisión para la Reforma de las Administraciones Públicas (CORA) de 2013 evidenció la existencia de ineficiencias y redundancias competenciales en las Administraciones Públicas españolas. En este trabajo se intenta determinar el número de duplicidades que existen en la Administración de la Comunidad de Castilla y León durante la IX Legislatura, correspondiente al periodo 2015-2019. Se estudian las estructuras orgánicas de las nueve Consejerías y se contabilizan 2.883 funciones atribuidas a 361 unidades y órganos administrativos, adscritos a 45 órganos directivos centrales. Se analiza individualmente cada función, las cuales se clasifican en dos categorías: principales –producen efectos ad extra en beneficio de la ciudadanía– y accesorias –producen efectos ad intra permitiendo el funcionamiento interno de la Administración–. Se contabilizan 1.598 funciones principales (55,43%) y 1.285 accesorias (44,57%); de éstas últimas, se concluye que 886 (68,95%) se encuentran duplicadas, mientras que 399 son unitarias (31,05%). Las funciones accesorias son meramente instrumentales y existe una única manera idónea de ejercitarlas (one best way), resultando más eficiente atribuir su desempeño exclusivo a órganos especializados, en los cuales debe ubicarse la tecnoestructura administrativa. Se propone un organigrama donde 9 órganos directivos centrales de nueva creación, constituidos como autoridad en línea y conformados por 67 unidades administrativas con rango de Servicio, asumirían la titularidad de las 399 funciones accesorias no duplicadas para desempeñarlas de manera horizontal en beneficio de los demás órganos de la Administración, los cuales continuarían ejercitando sus funciones ordinarias específicas de manera vertical.
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    Analysis of the Influence of the Moment the Internationalization Process Begins on the Internationalization Intensity of Family and Nonfamily Businesses: An Approach Using a Tobit Model
    (MDPI, 2022-10-10) Varas Fuente, Oscar Javier; Arguedas Sanz, Raquel; Rodrigo Moya, Beatriz
    The specific characteristics of family businesses as well as the internationalization path followed can influence the intensity of the internationalization process. Many studies have analyzed how family character can influence the internationalization process of family businesses, and the results obtained have not been conclusive. Nevertheless, previous research has not sufficiently addressed the influence that the moment of initiation of the internationalization process has on the levels of internationalization achieved. Based on the behavioral agency model, the unique set of business resources (familiness), and the socioemotional wealth (SEW) perspective, this study examines, the internationalization intensity of family and nonfamily businesses in two defined groups (early internationalization and internationalization from the local market). Likewise, the effect that the entry of the second generation has on the internationalization of these companies is analyzed. To perform this analysis, Tobit regression models are estimated from a data set of panel data from the Spanish Survey on Business Strategies for small and medium-sized Spanish family businesses from 2005 to 2016, finding that family ownership and management have a negative influence on the intensity of exports, regardless of the path of internationalization followed, and that the entry of new generations has a positive relationship with the level of internationalization of these businesses. Finally, implications of the findings for research and management are discussed.
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    Barriers and challenges of the functional healthcare risk management units in hospitals of Madrid health service
    (Elsevier, 2014) Pardo Hernández, Alberto; Navarro Royo, Cristina; Albeniz Lizarraga, C.; Morón Merchante, J.; Arguedas Sanz, Raquel
    Objetivo Identificar las barreras y los retos para el desarrollo efectivo de las unidades de gestión de riesgos sanitarios en los hospitales del Servicio Madrileño de Salud. Material y métodos Estudio descriptivo transversal dirigido a los equipos directivos y a los miembros de las unidades funcionales de 31 hospitales del Servicio Madrileño de Salud. Se solicitó en forma de texto libre, dentro de un cuestionario autoadministrado, la identificación de un máximo de 5 barreras y retos y su priorización a través de la adjudicación de uno a 5 puntos de acuerdo con su importancia. Posteriormente se realizó un análisis del discurso agrupando los temas comunes y ordenándolos de acuerdo con la puntuación recibida. Resultados La tasa de respuesta global fue del 94%. Las barreras más frecuentemente identificadas fueron: falta de tiempo (21%), insuficiente cultura de seguridad (13%), escasa difusión de sus actividades (10%) y falta de formación (10%). El reto más importante fue potenciar la formación (18%), seguido de mejorar la cultura (17%), difundir las actividades de seguridad (11%) y lograr el liderazgo de los responsables de los servicios (11%). Conclusiones En las condiciones del estudio, la barrera fundamental identificada fue la falta de tiempo y el reto principal la necesidad de formación. Por ello parece necesario mejorar el apoyo organizativo a la seguridad clínica en el ámbito objeto de estudio.
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    Burden of Hospitalizations Related to Pneumococcal Infection in Spain (2016–2020)
    (MDPI, 2023-01-14) Gil Prieto, Ruth; Allouch, Nizar; Jimeno, Isabel; Hernández Barrera, Valentín; Gil de Miguel, Ángel; Arguedas Sanz, Raquel
    Pneumococcal infection strongly contributes to morbidity and mortality in Spain. A total of 253,899 hospitalizations related to pneumococcal infection occurred from 2016 to 2020. Fifty-eight percent were men, the mean age was 67 years old, and the average length of hospitalization was 12.72 days. The annual hospitalization rate was 10.84 hospitalizations per 10,000 population, increasing significantly with age, reaching 65.75 per 10,000 population in those aged >85 years. The hospitalization rates for pneumococcal pneumonia, sepsis, and meningitis were 2.91, 0.12, and 0.08 hospitalizations per 10,000, respectively, and reached the highest value in those aged >85 for pneumococcal pneumonia and sepsis, with 22.29 and 0.71 hospitalizations per 10,000, respectively, and in children up to 1 year old for pneumococcal meningitis, with 0.33 hospitalizations per 10,000. The total number of deaths during the study period was 35,716, with a case-fatality rate of 14.07%. For pneumococcal pneumonia, sepsis, and meningitis, the case-fatality rates were 8.47%, 23.71%, and 9.99%, respectively. The case-fatality rate increased with age and did not vary by sex. The annual cost of these hospitalizations was more than EUR 359 million. There is therefore a high burden of disease and mortality caused by pneumococcal infection in our country, especially in elderly individuals.
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    Climate transition risk in determining credit risk: evidence from firms listed on the STOXX Europe 600 index
    (Springer, 2023-04-10) Ramos García, Daniel; López Martín, Carmen; Arguedas Sanz, Raquel
    This paper assesses whether a climate factor is relevant to measure default risk in a sample of main companies listed on the STOXX Europe 600 exchange from 2010 to 2020. The starting point is a factorial panel datamodel which is subsequently modified to capture the climate impact through different functional forms.We find that relevant differences in default risk exist before and after the Paris Agreement. Our analysis also indicates that this difference cannot be explained by means of traditional financial factors. Finally, we further show that a climate change risk and opportunities label is a significant factor in evaluating credit risk, both prior to and post-Paris agreement. These results are important to the extent that they suggest that companies’ market performance itself allows to measure differences in credit risk between companies and to link them with climate risk factors. This approach may be useful as a complement or in combination with the traditional use of exogenous climate factors that have been widely used in the literature in this field.
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    Collaborative Learning Communities for Sustainable Employment through Visual Tools
    (MDPI, 2020-03-24) Martín García, Rodrigo; López Martín, Carmen; Arguedas Sanz, Raquel
    Higher education institutions must enable students to acquire skills and capacities that prepare them for working life and enhance their employability. This will lead to an applied learning- and teaching-enhancement-oriented sustainable Higher Education System. This research aims to contribute to that goal by analyzing student interactions in a collaborative learning community. It assesses the impact of visual tools on academic performance and student satisfaction in employment-focused blended studies, in which enrollees were geographically dispersed undergraduates with a diversity of profiles. A financial studies learning community was created to test students’ interactions in a model conducive to participation as visual content creators and users. Three surveys (pre-project, appraisal of classmates’ visual exercises, and post-project) were conducted to assess project impact. First, we used a univariate approach, focused on students’ characteristics, course and project appraisals, and the eects of the project on academic performance and expectations. Secondly, a bivariate approach was conducted to detect relationships between respondents’ appraisals and personal characteristics and to determine whether their mean scores were the same irrespective of such characteristics. The findings showed that: (1) Students’ preferences concur with those of their employers; (2) participation in innovative initiatives improves students’ perception of course procedures; (3) visual tools have a positive impact on learning, in terms of both academic performance and student satisfaction. The study concludes by providing support for educational institutions´ decision-making around courses and the overall curricula by defining the factors determining academic performance and student satisfaction.
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    Efficiency in cryptocurrency markets: new evidence
    (Springer, 2021-07-26) López Martín, Carmen; Benito Muela, Sonia; Arguedas Sanz, Raquel
    In this paper we carried out a comprehensive study of the efficiency in the cryptocurrency markets. The markets under study are: Bitcoin, Litecoin, Ethereum, Ripple, Stellar and Monero. To studdy the efficiency of these markets, we use a set of five test which are applied in both a static context and dynamic context. The results obtained depend on both the analysis period and the methodology used to test the predictability of the return. However, some conclusions can be drawn: first, we observe that overall, the efficiency degree tends to increase with the time. Second, although the efficiency market seems to change along the period, the changes in the Bitcoin, Litecoin and Ethereum market show a clear tendency that evolves from less to more efficiency. In the case of Ripple, Stellar and Monero, periods of efficiency alternate with periods of inefficient, which is consistent with the Adaptive Market Hypothesis.
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    The extreme temperature factor in asset pricing models: Evidence from Europe
    (ELSEVIER, 2024-08) González Sánchez, Mariano; Arguedas Sanz, Raquel; Segovia San Juan, Ana Isabel
    Growing concern about climate change has led to increased research into the effects of climate on markets. One of the weather variables studied is temperature. The previous studies considered that the temperature influences on asset returns through changes in investor mood. There are few studies that incorporate a risk factor to analyze the effects of temperature changes on asset returns. We extract positive and negative extreme temperature changes to design three temperature factors. By a cross-section asset pricing model, we find evidence that temperature shocks (hot and cold) show a significant monthly risk premium and skewness for temperature changes.
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    Impacto de las calificaciones ESG en el rendimiento financiero de empresas turísticas cotizadas
    (Universidad de Educación a Distancia (UNED), 2024-09) Maestro Prieto, Jose Alberto; Pérez Martín, Jorge; Pra Martos, Inmaculada; Arguedas Sanz, Raquel
    El presente trabajo explora la posible existencia de una relación entre el rendimiento financiero de empresas cotizadas en países desarrollados del sector de turismo con la calificación ESG Environmental, Social & Governance) que obtienen estas empresas. El trabajo comienza con una revisión bibliográfica sobre este sector en concreto y de los resultados que se han ido obteniendo cuando se ha tratado de identificar la existencia de esta relación. A partir de esta revisión se ve que hay una gran disparidad de criterios, metodologías que conducen a resultados no concluyentes y que se pueden alcanzar distintas conclusiones, incluyendo que no hay relación, que hay relación lineal positiva, negativa, que la relación es en forma de U o en forma de U invertida. Se ha elegido un modelo sencillo para empresas cotizadas de Noruega, planteado en una de las publicaciones revisadas y se ha intentado replicar sus resultados. Este estudio se planteaba la existencia de una relación con forma de U entre el rendimiento financiero de las empresas y la calificación ESG. Los resultados que se han obtenido con los datos de las empresas de Noruega han sido parciales, y se han explorado otro tipo de modelos, con datos de empresas del sector de turismo en distintos países. Hay dos suposiciones subyacentes en esta elección: (1) el sector de turismo tiene determinadas particularidades que lo diferencian de otros sectores y por tanto, tiene sentido su estudio por separado; y (2) el desarrollo económico de los países en los que se radican las empresas y la actividad turística influye en los posibles resultados. Se han probado distintos tipos de regresiones lineales, dos redes neuronales recurrentes (RNN) y otros métodos y técnicas de IA, en con tres conjuntos de datos distintos: empresas turísticas de Europa, de América del norte (Estados Unidos y Canadá) y de los países del G7 (Alemania, Italia, Francia, Reino Unido, Estados Unidos, Canadá y Japón). Los resultados obtenidos son similares para los tres conjuntos de datos: no parece haber una relación clara entre la calificación ESG, que tiene tendencia ascendente con el tiempo, y el rendimiento financiero de las distintas empresas. Pero, se ha visto que en general, los modelos obtenidos, ajustan bastante mal el conjunto de datos. Los modelos que obtienen mejor ajuste son los que utilizan métodos y técnicas de IA, pero solo cuando se modelan algunas relaciones, en concreto, cuando se obtiene un modelo para la variable TobinQ.
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    Innovation in the University: Perception, Monitoring and Satisfaction
    (IEEE, 2018-08-03) Vicente Vírseda, Juan Antonio; Arguedas Sanz, Raquel; Martín García, Rodrigo; González Arias, Julio
    A blended learning teaching experience conducted at Spain's National Distance University is described. The project consisted of integrating technology (a virtual learning platform) and teaching methodologies (multimedia contents, weekly deliverables, continuous self-assessment, mentoring, a four-month timetable, and webinars) to enhance student engagement, performance, and satisfaction. A statistical study showed that self-assessment and professor monitoring are key issues in students' initial perception and ultimate satisfaction as well as the most effective tools for preventing dropout. Project participants had a lower dropout rate and higher grades than non-participants.
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    Models used to characterise blockchain features. A systematic literature review and bibliometric analysis
    (Elsevier, 2023-05-01) Rico Peña, Juan Jesús; Arguedas Sanz, Raquel; López Martín, Carmen
    Blockchain has emerged as an innovative technology with potential to transform business management, through operational efficiency improvements. Nevertheless, several performance and vulnerability issues have been identified for the different typologies supporting the wide range of blockchain-based applications currently implemented in different domains. A variety of analytical and empirical models are being used to evaluate the issues associated with the different blockchain typologies, enabling systematic analyses of the corresponding efficiency impact, and technical or economic threats. A thorough systematic literature review of these models has been performed, followed by a detailed assessment on the way these models have been employed, and the target parameters and applications evaluated (336 research selected and analysed). We propose a co-classification of these models, allowing us to identify which ones are employed to a greater extent to address the different blockchain issues in scientific research. In a second step, a bibliometric analysis on the selected research is conducted, offering a complementary overview of the status of and trends in blockchain modelling, including the most prolific authors and leading contributing countries to the topic. The main outcome and contribution of the paper is the provision of a broad overview on how blockchain issues have been analytically tackled, through the synthesis and meta-analysis of the models used in the scientific literature since the inception of blockchain technology. The results have two main direct applications, firstly supporting novel vulnerability and performance analyses of existing blockchain applications by providing historical information on the models used so far, as well as the key parameters and typology of the blockchain-based applications evaluated. Secondly, in the implementation of new applications, by allowing the recognition of key issues identified that are associated with the different blockchain typologies and to determine the most suitable models to analyse the weaknesses and risks of the alternative designs under evaluation for these new implementations.
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    Patrón de comportamiento explicativo de las ofertas públicas de adquisición de acciones en el sector inmobiliario. El caso de España
    (Elsevier, 2017-02-07) González Arias, Julio; Arguedas Sanz, Raquel; Martín García, Rodrigo
    La tendencia alcista del sector inmobiliario espa˜nol (2000-2007) provocó el crecimiento excesivo de muchas empresas, principalmente mediante adquisiciones. Esta investigación pretende identificar patrones de comportamiento para la realización de OPAs en el sector inmobiliario espa˜ nol, particularmente castigado por la crisis financiera. Para ello, se ha analizado un conjunto de 20 variables económico-financieras y su relación con la participación de las compa˜nías cotizadas del sector en este tipo de operaciones, para un total de 354 casos para el periodo 2000-2012, como adquirentes y adquiridas. Para ello, se ha empleado una metodología en dos etapas. En primer lugar, se ha aplicado el Método de Componentes Principales para acotar las variables de estudio consideradas con mayor capacidad explicativa. En segundo lugar, se ha construido un modelo predictivo basado en árboles de decisión, concretamente de tipo CHAID, que permite categorizar el conjunto de empresas analizadas y discriminar patrones de comportamiento. Los cinco factores principales con mayor capacidad explicativa son: a) liquidez, solvencia y capacidad de endeudamiento; b) tama˜no; c) resultado económico; d) capacidad operativa, y e) resultado financiero. De hecho, los dos primeros explican conjuntamente en torno al 70% de la variable dependiente, considerando principalmente a empresas adquirentes. El modelo propuesto cuenta con un nivel de explicación global cercano al 80%. El porcentaje restante que no explica el modelo responde fundamentalmente a cuestiones de tipo estratégico, de especulación financiera e intereses particulares, entre otros factores que concurren en la toma de decisiones.
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    Red Innovación Docente en Finanzas. Un modelo docente aplicado a las finanzas
    (2009-09) Pablo Redondo, Rosana De; Arguedas Sanz, Raquel; González Arias, Julio; Martín García, Rodrigo
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    Relación entre la emisión de bonos verdes y la “prima verde” en mercado primario. Evidencias con modelos de aprendizaje automático.
    (Universidad Nacional de Educación a Distancia (UNED). E.T.S. de Ingeniería Informática. Departamento de Inteligencia Artificial, 2025-02) Cuevas i Fajardo, Àlvar; Pérez Martín, Jorge; Pra Martos, Inmaculada; Arguedas Sanz, Raquel
    Este trabajo presenta un análisis del mercado de bonos verdes y su relación con los criterios ambientales, sociales y de gobernanza (ESG) de las empresas emisoras. El objetivo principal es investigar la existencia de una «prima verde» en estos bonos, es decir, si los inversores están dispuestos a aceptar un rendimiento menor a cambio de invertir en empresas que certifican como verde su deuda. Se han utilizado para ello datos de entidades no públicas que han emitido deuda verde a medio y largo plazo en el período 2020 y 2024, en todo el mundo. En una primera aproximación del estudio, se compara el ratio de deuda verde emitida por las organizaciones con sus puntuaciones ESG para buscar una relación directa entre estos dos parámetros. Dado que la muestra de bonos verdes con puntuaciones completas ESG es escasa, se han utilizado algoritmos de aprendizaje automático para completarla. Posteriormente se ha hecho un estudio pormenorizado sobre la existencia de la prima verde, basado en una técnica de comparación de datos reales con datos generados a través de un modelo de aprendizaje automático. Para llevar a cabo estos análisis, se han construido y probado varios modelos de aprendizaje automático para seleccionar el más adecuado en cada ocasión. La muestra de estudio incluye una selección diversa de bonos verdes emitidos por empresas con diferentes niveles de compromiso con la sostenibilidad. Las calificaciones para la reconstrucción de los parámetros ESG, así como las valoraciones de la deuda, se obtienen de fuentes de datos reconocidas. Este estudio contribuye a la literatura existente sobre bonos verdes y ESG al proporcionar evidencia empírica sobre la existencia y magnitud de la prima verde. Asimismo, puede ofrecer información relevante para los inversores que buscan integrar criterios de sostenibilidad en sus decisiones de inversión y para las empresas que buscan financiar proyectos verdes a través de la emisión de bonos.
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    Tackling the challenge of peer learning in hybrid and online universities
    (Springer, 2022-10-20) Mendieta Aragón, Adrián; Arguedas Sanz, Raquel; Ruiz Gómez, Luis Manuel; Navío Marco, Julio
    Peer learning is not fully developed or researched in online and hybrid higher education. This research analyses a peer learning experience in the asynchronous part of hybrid teaching, in one of the largest blended universities in Europe, promoting students to act as teachers of their peers, by preparing digital content (videos) for the course. This article studies whether there are behaviour patterns and different perceptions associated between students who act as teachers, and those who only act as students. The results indicate, among other findings, that students demand this type of activities, and value them very positively. Specifically, the “teachers” consider that this activity increases their motivation for the subject and their performance; they also consider that it significantly improves their creativity and communication skills, and they would definitely participate in the project again. The assessment of the students who merely view the materials is also very positive, and they prefer a learning method through classmate videos than the traditional learning method with printed materials. The research is also a boost to finding ways to promote learning among equals in non-classroom teaching in digital environments
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    Temporal optimisation of signals emitted automatically by securities exchange indicators
    (Universidad del País Vasco UPV/EHU, 2020-11-27) Ventura Pérez, Enrique; Martín García, Rodrigo; Arguedas Sanz, Raquel
    Stock exchange indicators deliver buy/sell signals that enable analysts to improve the results of a strategy based strictly on fundamental analysis. Nonetheless, since the automatic implementation of signals as they appear may not yield optimal returns, the present paper analysed the suitability of using a series of technical indicators as guidance for portfolio results. A second aim pursued was to study how delaying the implementation of indicator signals may enhance profitability. A simulation was performed for the years 2005-2016 using the most representative index for the Spanish stock exchange, the IBEX35 and all its constituent securities, along with seven indicators (RoC, RSI, SMA, EMA, MACD, Bollinger bands and Stochastic Oscillator) and a total of 81 combinations of buy/sell lag times. The definition of three non-overlapping sub-periods to guarantee the reliability of the findings yielded a total of 61 236 simulated portfolios. The conclusion drawn from the results was that for certain combinations of indicators, delaying the implementation of buy/sell signals improves returns. More specifically, optimal lag times identified for RSI and EMA signals were shown to deliver statistically significant improvements in portfolio returns, irrespective of the period studied. Those findings were consistent the results of an alternative simulation in which the five securities that were both the most liquid and had the greatest impact on the index were not considered, to rule out the possible effect of the relative weight of securities on either portfolio returns or their normalisation
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    The student as a prosumer of educational audio–visual resources: a higher education hybrid learning experience
    (Taylor & Francis, 2022-06-09) Navío Marco, Julio; Ruiz Gómez, Luis Manuel; Arguedas Sanz, Raquel; López Martín, Carmen
    Full Article Figures & data References Citations Metrics Reprints & Permissions Read this article ABSTRACT The rise of the student as prosumer (producer–consumer) of educational content is a novel development that has hitherto been the subject of very little research, especially in relation to the generation of digital contents and materials for online and hybrid education in particular. This article analyses whether there are patterns of behaviour and different perceptions associated with different groups of students in their role as producers and/or users in the field of active learning in hybrid university education systems. To this end, the research has been conducted with a group of engineering students at one of the largest blended learning universities in Europe. The results indicate higher levels of involvement in, and appreciation of, the experience in content producers compared with mere content consumers, but the students’ environment and personal attitudes (such as their availability and degree of professional dedication) in relation to this type of education, the profile of which is often quite distinct from that of traditional learning, may differentiate their interest and appreciation of these activities, which are more creative and probably more demanding.
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