The activism of institutional investors tends more and more toward the supervision and control of the behavior of the managers of big companies. In this article, we present a model based on the creation of an activism index that lets us evaluate such activism’s effect on the sensitivity of the investment policies of a company in the face of financial variables (such as cash flow and liquidity ratio) and market variables (ownership concentration and value creation index). To test our assertions, (...) we analyze firm-level data for United Kingdom (U.K.), Germany, France, Denmark, and Spain during the period 1995–2004. Our results point to a significant reduction in the sensitivity of company investment decisions in the face of these variables, especially relative to intangible capital, as a result of the neutralizing effect of activism on the high agency costs of free cash flow and on the information asymmetries of the market. (shrink)

Trata-se de uma análise das afinidades da filosofia de Schopenhauer (1788-1860) no pensamento de Emil Cioran (1911-1995). Autor influente na Romênia desde o século XIX, Schopenhauer é considerado uma das principais referências de Cioran. As fichas de leituras, cartas, expressões e os temas abordados por Cioran constituem uma gama de argumentos para aproximação do filósofo romeno ao filósofo do pessimismo.

The activism of institutional investors tends more and more toward the supervision and control of the behavior of the managers of big companies. In this article, we present a model based on the creation of an activism index that lets us evaluate such activism's effect on the sensitivity of the investment policies of a company in the face of financial variables and market variables. To test our assertions, we analyze firm-level data for United Kingdom, Germany, France, Denmark, and Spain during (...) the period 1995-2004. Our results point to a significant reduction in the sensitivity of company investment decisions in the face of these variables, especially relative to intangible capital, as a result of the neutralizing effect of activism on the high agency costs of free cash flow and on the information asymmetries of the market. (shrink)

The activism of institutional investors tends more and more toward the supervision and control of the behavior of the managers of big companies. In this article, we present a model based on the creation of an activism index that lets us evaluate such activism's effect on the sensitivity of the investment policies of a company in the face of financial variables and market variables . To test our assertions, we analyze firm-level data for United Kingdom , Germany, France, Denmark, and (...) Spain during the period 1995-2004. Our results point to a significant reduction in the sensitivity of company investment decisions in the face of these variables, especially relative to intangible capital, as a result of the neutralizing effect of activism on the high agency costs of free cash flow and on the information asymmetries of the market. (shrink)

Este trabajo examina algunos ensayos políticos de David Hume para sostener que su estrategia escéptica de moderación de las facciones políticas no consiste solamente en el examen de los argumentos, de estas sino también en el despliegue de maniobras retóricas distintivamente escépticas. Con ellas, logra exponer los intereses reales que originan las posiciones partidistas y disolver las doctrinas mediante las cuales las facciones atraen a sus seguidores. La estrategia constituye una forma de acción política comprometida que se apoya en su (...) ciencia de la naturaleza humana. (shrink)

In this article we are going to approach the question of the intersubjectivity. To understand why the intersubjectivity is a modern problem and which is the solution that it fits, we have chosen to follow a descending route that gives light and should illuminate what today, in many areas, is seen as a problem. We will begin, consequently, approaching the person as not identical but dual. The above mentioned cosideration takes us from the hand to the distinction between someone and (...) something that reveals the unlimited character of the person. The distinction indicates that what is own of the person is to coexist, that is to say, that there cannot be only one person. Thus, monism is incompatible with the personal being and, having reached the person as coexistence, the discoveries are extended on to intersubjectivity, proper of modern anthropology. (shrink)

Are there any conditions under which to justify deliberately hiding or manipulating the expression of our opinions, emotions or character traits in front of others? this article examines David Hume’s answer to this question by discussing the practices that he calls good manners and impudence. the conclusion is that Hume’s description of the moral point of view allows for two conditions under which practices of opacity such as good manners and impudence can be morally assessed.

An often-ignored Humean contribution to Scottish Enlightenment is ‘conjectural history’, an eighteenth-century historical genre that attempted to trace the origins and development of particular institutions from prehistory to modernity. But conjectural methodology prevented histories from establishing any facts. What was then its point? I propose a way to justify Hume's practice of conjectural history by appealing to his scattered comments on historical explanation. Conjectural histories explain the origin of modern institutions by offering the rationale that must have caused their emergence (...) and stability and that justifies their current approbation, providing the reader with means for understanding and criticism. (shrink)

Background: Heart rate variability (HRV) has been considered as a measure of heart-brain interaction and autonomic modulation, and it is modified by cognitive and attentional tasks. In cognitive tasks, HRV was reduced in participants who achieved worse results. This could indicate the possibility of HRV predicting cognitive performance, but this association is still unclear in a high cognitive load sport such as chess Objective: To analyse modifications on HRV and subjective perception of stress, difficulty and complexity in different chess problem (...) tasks. Design: HRV was assessed at baseline. During the chess problems, HRV was also monitored, and immediately after chess problems the subjective stress, difficulty and complexity were also registered. Method: A total of 16 male chess players, age: 35.19 (13.44) and ELO: 1927.69 (167.78) were analysed while six chess problem solving tasks with different level of difficulty were conducted (two low level, two medium level and two high level chess problems). Participants were classified according to their results into two groups: high performance or low performance. Results: Friedman test showed a significant effect of tasks in HRV indexes and perceived difficulty, stress and complexity in both high and low performance groups. A decrease in HRV was observed in both groups when chess problems difficulty increased. In addition, HRV was significantly higher in the high performance group than in the low performance group during chess problems. Conclusions: An increase in autonomic modulation was observed to meet the cognitive demands of the problems, being higher while the difficulty of the tasks increased. Non-linear HRV indexes seem to be more reactive to tasks difficulty, being an interesting and useful tool in chess training. (shrink)

Es corriente invocar el lenguaje de los derechos para demandar justicia. Sin embargo, el uso irreflexivo de este lenguaje puede ser perjudicial. En este trabajo, presento dos argumentos en favor de una más atenta reflexión sobre el concepto de derecho subjetivo. Primero, uso la distinción entre el concepto y la concepción de una noción normativa para precisar cuál es la clase de investigación que la reflexión sobre el concepto de derecho implica y los problemas que trae ignorarla para las prácticas (...) de reivindicación de justicia. Segundo, propongo que el que un individuo o colectivo tenga derecho a la satisfacción de un contenido dado significa que existen razones suficientes, pero no absolutas, para que alguien esté obligado a actuar de forma que contribuya razonablemente y de una manera especificada a la satisfacción de tal contenido. Esta propuesta del concepto de derecho subjetivo es “independiente”, en tanto permite la discusión de diferentes concepciones de derechos en una sociedad democrática. Además, articula la idea de que conceder un derecho implica siempre considerar la manera en que se distribuyen las cargas y responsabilidades al interior de una sociedad, así como la forma en que sus instituciones deben funcionar en conjunto. (shrink)

In this article, I defend the idea that there are important differences between lying in politics and lying in general. My aim is to show that the issues with political lies do not have to do only with metaphysical or conceptual questions regarding what politics is or what the concept of the political means, or only with the validity of the excuses and justifications commonly offered in favor of political liars. I hold that the political lie is a special form (...) of lie due, first, to the peculiarity of the use of language in politics, and second, to the function that political lies play in political discussions: they undermine several epistemic conditions needed to impartially discuss social disagreements. In this work, however, I leave unanswered the question of what might be the best way to account for the epistemic conditions of democratic political discussion. (shrink)

SPANISH: La suposición de la obediencia estricta, y las demás características de la sociedad bien ordenada (SBO), es una considerable idealización que hace Rawls de las circunstancias históricas reales en las que existen las sociedades contemporáneas. De allí la objeción de que todo el proyecto de la justicia como equidad es inútil, pues de nada sirve saber cuáles serían los principios de la justicia para una SBO que solamente existe en la teoría. Los objetivos de este artículo son aclarar el (...) significado de la suposición de una SBO del que se ocupa una teoría ideal, indicar las relaciones de este tipo de teoría con la metodología de la filosofía política y la noción de factibilidad y reevaluar la objeción de inutilidad a la luz de estas consideraciones. Se propone una respuesta doble a la objeción de inutilidad derivada de obra de Rawls. ENGLISH: The assumption of strict obedience, and other features of the well ordered society (WOS), is a great idealization that Rawls does from the actual and historical circumstances in which contemporary societies exist. From there comes the objection according to which the whole Project of justice as fairness is just useless, for it has no purpose at all to know what would it be the principles of justice for a well ordered society that only exist in theory. The aims of this paper are to make clear the meaning of the well ordered society’s assumption - the society which the ideal theory takes care of -; to point out the links between this kind of theory and the methodology of the political philosophy and the notion of feasibility; and to look again the useless objection in the light of the above considerations. Before the useless objection, it is proposed a twofold answer that could be inferred from Rawls work. (shrink)

Obesity is characterized by the accumulation of an excessive amount of fat mass in the adipose tissue, subcutaneous, or inside certain organs. The risk does not lie so much in the amount of fat accumulated as in its distribution. Abdominal obesity is an important risk factor for cardiovascular diseases, diabetes, and cancer, having an important role in the so-called metabolic syndrome. Therefore, it is necessary to prevent, detect, and appropriately treat obesity. The diagnosis is based on anthropometric indices that have (...) been associated with adiposity and its distribution. Indices themselves, or a combination of some of them, conform to a big picture with different values to establish risk. Anthropometric indices can be used for risk identification, intervention, or impact evaluation on nutritional status or health; therefore, they will be called anthropometric health indicators. We have found 17 AHIs that can be obtained or estimated from 3D human shapes, being a noninvasive alternative compared to X-ray-based systems, and more accessible than high-cost equipment. A literature review has been conducted to analyze the following information for each indicator: definition; main calculation or obtaining methods used; health aspects associated with the indicator ; criteria to classify the population by means of percentiles or cutoff points, and based on variables such as sex, age, ethnicity, or geographic area, and limitations. (shrink)

Background: The prevalence of anxiety and depression in young students is associated with biosocial factors and scholastic stress. However, few studies have evaluated emotional-affective symptoms that are related to the immune system and antioxidant parameters in young individuals without diagnoses of affective disorders.Aim: This study aims to assess the relationship between emotional-affective symptoms and glutathione concentrations and CD4 and CD8 lymphocyte counts in college students.Methods: College students completed standardized psychometric instruments, including the Perceived Stress Scale, Hamilton Anxiety Scale, Beck Depression (...) Inventory, Familiar Social and Friends Support Scale, and Rosenberg Scale. Blood samples were biochemically analyzed. Analyses of variance were conducted between four groups according to symptom severity.Results: A considerable prevalence of stress, anxiety, and depression symptoms was observed and negatively correlated with self-esteem and socio-familiar support. Perceived stress was sexually dimorphic. Although biochemical parameters were within reference ranges, glutathione, CD4, and CD8 tended to be lower in participants with anxiety and depression symptoms, which may be of predictive value.Conclusion: The relationship between antioxidant/immune parameters and socio-affective scores is latent in undiagnosed college students who might develop affective disorders. The findings suggest that during the initial development of affective disorders, stress management strategies should be implemented to help college students cope with the academic load and monitor negative changes in their physiological state. (shrink)

This book is dedicated to clarify ambiguous concepts from the world of creativity and innovation. One of the initial triggers for the development of the book was the perceived ambiguity of the binomials Design vs. Design Thinking and Innovation vs. Invention. Frequently, designers and innovation consultants are questioned by their clients about the relationships between these kind of concepts. Has the second emerged through the first, or vice-verse? Is one part of the other? Where are the similarities and which are (...) the differences? This conceptual incomprehension makes itself noticeable between many ambiguous concepts in the world of innovation and creativity. What is the difference between Radical and Disruptive Innovation? Or is Social Innovation the same as Social Intervention? And regarding Creativity, are Creativity and Creative Thinking the same? In this book the reader will find answers to these kinds of questions and doubts. 28 authors from 10 different countries and cultural backgrounds are questioning current definitions and perceptions, by comparing different sources and ideas, or simply by giving their personal opinions. Some of the authors have an academic background, others a practical one, being either entrepreneurs, working with innovation in companies, or being innovation/design consultants. (shrink)

Objective: This study aimed to compare the effects of two intervention programs, high-intensity interval training and moderate-intensity training, on anxiety, depression, stress, and resilience during the confinement caused by the coronavirus disease 2019 in healthy adults.Methods: A total of 67 adults who participated were randomly assigned to two groups: HIIT and MIT groups. The MIT group had to perform a home-based intervention based on aerobic exercises, whereas the HIIT group had to perform a home-based intervention based on HIIT exercises. The (...) two groups had to complete the same physical exercise volume, 40 min per session during the confinement period. Depression, anxiety, stress, and resilience were assessed before and after the intervention.Results: Results showed that HIIT and MIT significantly reduced the stress, anxiety, and depression as well as increase the resilience. Moreover, the improvements obtained in the HIIT group seem to be greater than those of the MIT group in depression.Conclusions: HIIT and MIT decreased anxiety, stress, and depression as well as increased resilience during the COVID-19 confinement. In addition, the HIIT intervention seemed to be more beneficial to reduce depression than the MIT intervention. (shrink)

El De dogmatibus ecclesiasticis de Genadio de Marsella se encuentra próximo a la tradición de los símbolos, compilaciones doctrinarias de consulta ágil, por su estructura interna y contenidos. El examen del tratado genadiano contribuye a delimitar su contexto de composición, así como las preferencias dogmáticas de su autor. The De dogmatibus ecclesiasticis of Gennadius of Massilia is close to the tradition of symbols, easy to read doctrinal compilations, because of its structure and contents. The exam of Gennadius’ book contributes to (...) define its composition context and its author’s dogmatic choices. (shrink)

Adaptive optics are techniques used for processing the spatial resolution of astronomical images taken from large ground-based telescopes. In this work, computational results are presented for a modified curvature sensor, the tomographic pupil image wavefront sensor, which measures the turbulence of the atmosphere, expressed in terms of an expansion over Zernike polynomials. Convolutional neural networks are presented as an alternative to the TPI-WFS reconstruction. This technique is a machine learning model of the family of artificial neural networks, which are widely (...) known for its performance as modeling and prediction technique in complex systems. Results obtained from the reconstruction of the networks are compared with the TPI-WFS reconstruction by estimating errors and optical measurements. The reconstructed wavefronts from both techniques are compared for wavefronts of 153 Zernike modes. For this case, a detailed comparison and grid search to find the most suitable neural network is performed, searching between multi-layer perceptron, CNN and recurrent networks topologies. In general, the best network was a CNN trained for TPI-WFS reconstruction, achieving better performance than the reconstruction software from TPI-WFS in most of the turbulent profiles, but the most significant improvements were found for higher turbulent profiles that have the lowest r0 values. (shrink)

We performed a critical review of the historiographical studies on biogeography. We began with the pioneering works of Augustin and Alphonse de Candolle. Then, we analyzed the historical accounts of biogeography developed by (1) Martin Fichman and his history on the extensionism-permanentism debate; (2) Gareth Nelson and his critique of the Neo-Darwinian historiography of biogeography; (3) Ernst Mayr, with his dispersalist viewpoint; (4) Alan Richardson, who wrote a microhistory on the biogeographic model constructed by Darwin; (5) Michael Paul Kinch and (...) the ideas discussed in the 19th century about the geographical distribution of living beings; (6) Janet Browne, who highlighted the importance of the pre-Darwinian naturalists; (7) Peter Bowler, who focused mainly on the influence of paleontology on biogeography; (8) James Larson, who looked into the practices of the naturalists of Northern Europe in the late 18th century; and (9) Malte Ebach, who like Larson, was more interested in analysing the practices rather than the ideas of naturalists who studied the geographical distribution of organisms. Finally, these works are compared with each other. There has not been a dominant paradigm in the construction of historical narratives of biogeography; however, they provide a useful context for understanding problems of biogeography that continue to be debated to this day. (shrink)

After briefly presenting the approaches to price theory developed in American colonial scholasticism by Tomás de Mercado, Bartolomé de Albornoz and Juan de Matienzo, we intend to demonstrate the preponderant role played by Aristotle and the peculiar reception given to him by these authors in their respective works.

A filosofia na primeira universidade da América Latina (Universidad de San Marcos 1551) Resumo: O artigo se propõe trazer a público um momento fundante da história da Filosofia nas Américas a partir do estudo da historia das Universidades e em especial a decana Universidad de San Marcos (1551), a sua fundação, funcionamento e legado. Neste contexto pretende igualmente apresentar dois notáveis intelectuais nativos que respiram o ar dessa universidade nas primeiras décadas: Jerónimo Valera e Juan de Espinosa Medrano. Palavras-chave: (...) Escolástica Ibero-americana; São Marcos; Universidades; Filosofia latinoamericana. Philosophy at Latin America's First University (Universidad de San Marcos 1551) Abstract: The article aims to bring to the public a foundational moment in the history of Philosophy in the Americas, based on the study of the history of Universities and, in particular, the dean Universidad de San Marcos (1551), its foundation, functioning and legacy. In this context, it also intends to present two notable native intellectuals who lived the atmosphere of that university in those first decades: Jerónimo Valera and Juan de Espinosa Medrano. Key words: Ibero-American Scholasticism; San Marcos; Universities; Latin American philosophy. Filosofía en la Primera Universidad de América Latina (Universidad de San Marcos 1551) Resumen: El artículo se propone acercar al público un momento fundacional de la historia de la Filosofía en América a partir del estudio de la historia de las Universidades y en particular de la decana Universidad de San Marcos (1551), su fundación, funcionamiento y legado. En ese contexto, también pretende presentar a dos destacados intelectuales nativos que respiran el aire de esa universidad en las primeras décadas: Jerónimo Valera y Juan de Espinosa Medrano. Palabras clave: escolástica iberoamericana; San Marcos; universidades; filosofía latinoamericana. Data de registro: 16/09/2021 Data de aceite: 20/12/2021. (shrink)

Michelangelo Fardella tra Agostino e Descarte -- Filosofia e controriforma in Sicilia nel secondo Seicento -- Declinazioni della sovranità in Juan Caramuel e Antonino Diana -- Dell'altro e del mediesimo: interpretazioni del probabilismo -- Libertà di coscienza, profezia, tolleranza -- Teologia barocca e "disciplinamento": problemi metodoligic e prospettive di ricerca -- Appendice: Cinque lettere duypi Caramuel ad Antonino Diana.

En el artículo se exponen las ideas principales de Boaventura de Sousa Santos, extrapoladas de sus libros más representativos. Una breve introducción a su reflexión política y a su crítica sociológica; vale decir, se interpreta la razón estratégica y globlal del telos de la Modernidad; a la vez que,..

San Juan de Ávila (1499-1569), predicador, reformador, director de almas, pero al mismo tiempo eminente teólogo pastoral que lideró la Contrarreforma española. El pensamiento del Apóstol de Andalucía sobre la Iglesia está formado por la riqueza de elementos pneumatológicos que aparecen en sus escritos. Esto hace que su visión del Misterio de la Iglesia sea intensamente dinámica, mostrando además que el Espíritu Santo, como alma y fuerza interior de la Iglesia, es quien sostiene y garantiza su Misión en (...) el mundo. (shrink)