A learning methodology using Matlab/Simulink for undergraduate electrical engineering courses attending to learner satisfaction outcomes

Learner-centred approaches follow the prevailing tendency in modern University reforms which are primarily concerned about “how people learn”. The methodologies can be learner-centred in the sense of placing the student as the main actor of the teaching–learning process by increasing his interactivity and participation, but also considering what is relevant for the student by measuring the learner satisfaction. In order to promote both aspects, this paper proposes a synchronous software-based active methodology that makes use of the simulations to show a virtual scenario to the students and challenge them to predict and discuss the evolution of the scenario. The proposed methodology improves the visual interface, promotes discussion both among students and with the teacher in a brainstorming stage and shows real-world examples. This software-based methodology has been implemented into an Electric Machinery course at the University of Seville (Spain), and the evaluation has been carried out considering both the affective and cognitive domains. Principal components analysis proves to be useful to highlight the dimensions with a higher influence on learner satisfaction and the affective and cognitive results confirm the successful implementation of the proposal.     

A note on incomplete factor taxation

Optimal capital taxes may be positive in the steady state in Ramsey models with an incomplete set of factor taxes. I show this possibility crucially depends on how fiscal policy is constrained at date t = 0. If the government is barred from manipulating the value of initial assets, the Chamley–Judd result reappears: the optimal capital tax is always zero in the steady state.     

The impact of science and technology parks on firms’ product innovation: empirical evidence from Spain

Science and Technology Parks (STP) have attracted considerable attention and public funds in recent years. However, the conclusions on their effectiveness remain mixed. This work evaluates the impact of STP on firm product innovation in the Spanish context, as an example of a less developed innovation system in which regional and national governments are prioritizing STP initiatives. This work draws on a large sample of firms provided by the Spanish Survey on Technological Innovation that is conducted annually by the National Statistical Institute. We explore alternative econometric methods to obtain average treatment effects for firms located in 22 Spanish STPs. Our results show that Spanish STPs have a strong and positive impact on the probability and amount of product innovation achieved by STP located firms. These results hold when the endogeneity of STP location is taken into account.     

WHAT HAPPENED TO THE WILLINGNESS OF COMPANIES TO INVEST AFTER THE FINANCIAL CRISIS? EVIDENCE FROM LATIN AMERICAN COUNTRIES

In this article we investigate the changes in corporate investment dynamics in the aftermath of the global financial crisis. Using firm-level data from six Latin American countries from 2002 to 2015, we show that firms are less constrained and have greater ability to invest after the crisis. However, the willingness of firms to invest optimally is reduced. This is supported by strong evidence that during the postcrisis period investment–cash flow sensitivity disappears, investment-q sensitivity increases, and the estimated speeds of adjustment for target investment decrease. Moreover, after the crisis, firms notably increase their efforts to attain optimal cash and leverage levels. Our analysis implies that firms may not always be willing to invest optimally. The willingness to invest optimally appears to be time variant and moves together with the dynamics of cash and leverage policies, albeit in opposite directions.     

Technology as a tool to rebuild heritage sites: the second life of the Abbey of Cluny

Technology has made changes in communication, lifestyle, and cultures, creating a new challenge to heritage sites. Technology can be the answer to connecting with local communities and tourists, reducing the gap between people and their inheritance, making it more understandable, creating awareness and value and eliminating time and space limitations. It can be used to communicate, interpret, teach, analyze, and make heritage accessible. And it can also be applied to make virtual reconstructions of what no longer exists. This paper analyzes the effect of technology at a heritage site, using the Abbey of Cluny as a case. This Abbey is a monument in France due to its importance during the Middle Ages as the monastic capital of Europe. Today, there are only a few traces of what the Maior Ecclesia used to be. New technologies were applied to rebuild what was destroyed with time using augmented reality and 3D reconstruction. Qualitative methods were used to describe what effects in visitors and promotion of the site were observable.     

Real Options Valuation: A Case Study of an E‐commerce Company

This paper presents a real options valuation model with original solutions to some issues that arise frequently when trying to apply these models to real‐life situations. The authors build on existing models by introducing an innovative and intuitive risk neutral adjustment that allows us to work with all the simulated paths. The problem of incorporating real options into each path is solved with a “nearest neighbors” technique, and uncertainty is simulated using a beta distribution that adapts better to company‐specific information. The model is then applied to a real life e‐commerce company to produce the following insights: the expanded present value is higher than the traditional present value; the presence of several real options make them interact so that their values are nonadditive; and part of the expanded present value is explained by the presence of “Jensen's inequality” that stems from the “convexity” between the value of each year's cash flow and the uncertain variables.     

Accounting for development through investment prices

Cross-country income gaps are large in the data. Can observed investment prices account for these gaps? Our model adds an extensive margin to the neoclassical growth model by allowing for entry of firms. When combined with a “returns to variety” effect, our model provides an amplification mechanism from investment prices to output. Using cross-country data on relative investment prices, the model can explain up to 5 to 6-fold income differences between the richest and poorest countries in our sample while simultaneously reducing the implied cross-country TFP differences.     

A systematic mapping study of process mining

This study systematically assesses the process mining scenario from 2005 to 2014. The analysis of 705 papers evidenced ‘discovery’ (71%) as the main type of process mining addressed and ‘categorical prediction’ (25%) as the main mining task solved. The most applied traditional technique is the ‘graph structure-based’ ones (38%). Specifically concerning computational intelligence and machine learning techniques, we concluded that little relevance has been given to them. The most applied are ‘evolutionary computation’ (9%) and ‘decision tree’ (6%), respectively. Process mining challenges, such as balancing among robustness, simplicity, accuracy and generalization, could benefit from a larger use of such techniques.     

Legal dispossession and civil war in Colombia

How are institutions that regulate property rights related to the massive coercive dispossession of land that took place during the Colombian conflict? How did the workings of these institutions change during the conflict? We answer these questions through an analysis of a unique data set of rulings on land restitution issued between 2012 and 2015. The paper argues that the exclusionary nature of the institutions that regulate the access and assignment of property rights preceded the onset and escalation of the Colombian conflict, but shows how and why once the conflict began, the set of techniques used to promote coercive dispossession through those institutions could be significantly broadened and escalated. By doing so, it intends to advance the knowledge of how institutions are transformed, in this case in a deeply anti‐egalitarian and violent sense, during war.     

A field experiment to study sex and age discrimination in the Madrid labour market

This article presents the findings of a field experiment carried out in Madrid which aims to analyse gender and age discrimination in hiring in the labour market of Madrid. A set of five pairs of fictitious man–woman curricula was sent in response to 1062 job offers in six occupations which were advertised on Internet over an eight-month period. It was quantified subsequently the extent to which the different firms contacted more or less the candidates of different sex, age and marital status. No discrimination is detected against women in terms of access to job interviews; however, discriminatory conduct is seen regarding the phenomenon of occupational gender segregation, in the sense that there is a continuance among employers of stereotyped views on the greater suitability of women for certain tasks. No evidence is found to indicate firms showing relative discrimination against married women with children in the first phase of hiring process. And a clear evidence of discrimination is obtained on the basis of age: firms show a substantial fall in interest over interviewing 38-year-old candidates (compared to those aged 24 or 28). This would imply that the tendency to discriminate against older workers may be high, and, what is more, it may start at a surprisingly young age.