José Angel Pérez López

La relevancia de los gastos de I+D. Estudio empírico en el sector del automóvil

Resumen Antecedentes El Financial Accounting Standard Board preocupado ante el deterioro de la utilidad de la informacion financiera, abrio un proceso de consultas y deliberaciones con objeto de incluir esta preocupacion en su agenda: quedaba patente la importancia de las inversiones conductoras de la innovacion, pero los principios de contabilidad generalmente aceptados en el ambito estadounidense (conocidos por las siglas US GAAP) no permitian su reconocimiento como activos. La cuestion que nos planteamos es: ?Con independencia del tratamiento contable asignado a las partidas de I+D, los inversores las consideran relevantes? Objetivo En el presente trabajo de investigacion trataremos de contrastar la relevancia del valor de los gastos de I+D corriente y con retardo de un ejercicio economico. Metodologia y muestra Usando como funcion base el modelo de Ohlson (1995), introducimos variantes del mismo y con ellas, fijamos nuestro objetivo en la modelizacion del precio de cotizacion. La muestra esta formada por empresas que cotizan en Estados Unidos y que pertenecen al sector del automovil. El horizonte temporal analizado comprende 10 anos. Resultado y conclusiones Nuestros resultados muestran que los inversores consideran que los gastos de I+D corriente y los del ejercicio anterior no aportan valor anadido a las companias, es decir, que los valoran como cualquier otro gasto del ejercicio y que, por tanto, no son relevantes para estimar el valor de mercado de las companias que forman nuestra muestra.

1040 Evaluation of Three Resuscitation Protocols in Hypovolemic Shock Using Microcirculation Analysis in an Animal Model

Background and Aims Ideal treatment of hypovolemic shock is not well established yet. Comparison of different treatments usually focuses on global haemodynamics. Our aim was to study if microcirculation analysis shows differences between three different resuscitation treatments. Methods After sedation, relaxation and mechanical ventilation, hypovolemic shock was induced with controlled bleed (30ml/kg) in 17 two-month-old piglets. After 30 minutes pigs randomly received treatment with either normal saline (NS) 30 ml/kg, Albumin 5% plus Hypertonic 3% Saline (AHS) 15 ml/kg or Albumin 5% plus Hypertonic 3% Saline plus a bolus of Terlipressin 20 µg/kg (TAHS). Microcirculation was assessed following international consensus recommendations. Perfused vessel density (PVD), microvascular flow index (MFI) and heterogeneity index (HI) where determined at basal, post bleeding and after treatment. Results After treatment PVD and MFI where higher in AHS and TAHS groups than NS group and HI values were lower, but differences between the three treatment groups were not statistically significant. Median values for PVD were 13.0±0.9 (NS); 14.0±1.8 (AHS) and 14.0±1.9 (TAHS) (p=0,539). MFI median values were 2.47±0.29 (NS); 2.75±0.23 (AHS) and 2.67±0.19 (TAHS) (p=0,204). HI median values were 0.43±0.23 (NS); 0.22±0.20 (AHS) and 0.32±0.21 (TAHS) (p=0,316). Conclusions After treatment there were no significant differences between the three treatments in none of the three microcirculation parameters. There are no significant differences in microcirculation analysis between several treatments of hypovolemic shock.

LA PUBLICACIÓN DE HONORARIOS DE LAS FIRMAS DE AUDITORÍA EN ESPAÑA: UN ANÁLISIS EMPÍRICO

La presente investigacion analiza si realmente las medidas relacionadas con la imposicion de publicacion de honorarios en Espana contribuyen intrinsecamente a paliar, en cierta medida, los conflictos de independencia que la profesion auditora tiene actualmente. En relacion con la evidencia obtenida del cuestionario utilizado en la investigacion, es interesante subrayar que los profesores universitarios se inclinan, en general, a favor de la existencia de este tipo de medidas de transparencia informativa, sin embargo, los auditores se muestran contrarios a la misma. No obstante, a pesar de este posicionamiento inicial discrepante, la evidencia indica que dentro de la categoria de auditores es preciso diferenciar dos grupos: los profesionales consolidados y los profesionales no consolidados. De esta forma, los resultados indican que estos ultimos muestran una opinion intermedia cercana, en algunos puntos, a la indicada por los profesores universitarios.

PS-240 Developing A Toxic Paediatric Animal Model Of Non-oliguric Acute Renal Injury With Cisplatin

Introduction Developing a non-oliguric paediatric animal model of acuterenal injury (AKI) could be useful to study the evolution of diuresis after treatments. Cisplatin causes a dose-dependant poliuric renal failure in humans. A dose of 5 mg/kg has been used in rats to produced AKI but there are no studies in pigs. Objectives To define the target dose of Cisplatin that develops anon-oliguric toxic acute kidney injury in piglets. Methods A prospective experimental study was performed in 8 piglets (mean 10 kg). Three different intravenous doses of Cisplatin (2, 3 and5 mg/kg) and two different periods of time between administration and evaluation (2 and 4 days) were studied. Urine and blood samples were collected. Results Results are presented in Table 1. A dose of 2 mg/kg did not produce important alteration of renal function at any given time. A very severe oliguric AKI with extremely high hyperkalemia was observed four days after a 3 mg/kg dose and 3 days after a 5 mg/kd dose. A dose of 3 mg/kg administrated 48 h before produced an important AKI without severe hyperkalemia. Abstract PS-240 Table 1 Cisplatin dose mg/kg Days after inyection Initial diuresis (ml/h) Creatinine (mg/dL) Urea (mg/dL) Sodium (mmol/L) Potasium (mmol/L) Phosphate (mg/dL) 2 4 - 1.0 46 140 4.3 - 2 4 31 0.9 45 138 4.5 6.8 3 2 20 3.6 174 138 4.6 13.5 3 2 22 1.5 142 135 3.4 15 3 2 38 4.2 209 132 5.9 16 3 2 30 3.8 189 137 4.2 15.8 3 4 7 9.5 518 137 8.7 20.3 5 3 1 5.5 409 120 10.4 14.8 Conclusions A dose of 3 mg/kgof intravenous cisplatin producednon-oliguric AKI after 48 h in piglets. This dose and interval can be used for toxic paediatric animal models of AKI.

PO-0264 Constipation Treatment Protocol In Critically Ill Children

Backgrounds and aims Constipation in critically ill patients is associated with severity of illness. There are no clinical guidelines in critically ill children. The aim of this study is to review the results with our treatment protocol. Methods Prospective observational study including children admitted to the PICU >3 days. Constipation was defined as ≥4 days with no stools. Constipation was treated with saline rectal enemas or polyethylene glycol + ions (PEGI). PEGI was prepared mixing one paediatric packet (6.9 g) with 20 ml of water. Initial dose was 1–2 ml/kg/8 h and after intestinal transit was observed, it was diminished to 0,5–1 ml/kg/24 h. Adult preparation form (13,8 g) in 40 ml of water was used in children >25 kg. Clinical and demographic data were recorded. Results 68/150 patients (45.3%), median age 38.5 months (IQR 8.5–82.5) had constipation. Rectal enemas were administered to 15 patients (19.2%). It was useful (stool produced within the next two hours) in 50% of them. 47 patients (60.2%) were treated with PEGI obtaining stool production in the next 48 h in 60.3% of them. Median (IQR) dose of PGEI was 0.9 (0.6–1.3 g/kg/day). Median (IQR) time to first stool production after PEGI was 1 (0–2 days). Diarrhoea was the most frequent side effect observed in 4 patients with PEGI. Conclusions Constipation in critically ill children is a very common problem. Our treatment protocol seems to be useful and secure. More studies are necessary to evaluate treatment efficacy and security and to develop clinical guidelines.

Estudio de los gastos de I+D: un análisis empírico en el sector del automóvil

La diferencia existente entre la informacion economico-financiera que divulgan las empresas y las necesidades informativas de los usuarios, han sido motivo de preocupacion e interes creciente en el ambito academico. La mayoria de las investigaciones sostienen que dicha diferencia viene explicada en gran medida por los activos intangibles desarrollados internamente, entre ellos los gastos de I+D. Actualmente sigue teniendo gran interes pues los organismos emisores de normas internacionales se encuentran en un proceso de armonizacion, en aras de revestir de utilidad de los actuales sistemas contables. El presente trabajo de investigacion trata de contrastar la relevancia y fiabilidad de la informacion sobre I+D, para ello, emplea, como funcion base, el modelo de Ohlson (1995). Los resultados rechazan la relevancia de los gastos de I+D corriente para valorar a las companias cotizadas

24 Correlation of Microcirculation Analysis with Hemodynamic and Biochemical Parameters of Tisular Perfusion

Background and aims Microcirculation assessment focus on 3 components: Vessel density, perfusion, and heterogeneity of microcirculation, measured as perfused vessel density (PVD), microcirculation flow index (MFI), proportion of perfused vessels and heterogeneity index (HI). Correlation of these parameters with hemodynamic and perfusion parameters is not well established. Methods Prospective, observational study in 17 two-month-old sedated, relaxed and mechanically ventilated piglets (8.6±1.1kg). Video sequences were recorded using Microscan Microvision® device at three different times: before, after induced hypovolemic shock and after fluid resuscitation. 51 sets of measurements where obtained by the analysis of video sequences using automated vascular analysis software. Microcirculation was assessed determining PVD, MFI and HI. Results PVD showed correlation with MFI (r: 0,589) and central venous oxygen saturation (SvO2) (r:0,383) and HI (r:-0,600) (all p<0.01). MFI showed correlation with PVD (r:0,589), systolic (r:0,540), diastolic (r:0,443), and median (r:0,517) blood pressure, cardiac index (CI) (r:0,578), SvO2 (r:0,462), internal carotid artery flow (ICAF) (r:0,623) HI (r:-0,864), lactate blood levels (r:-0,476) (all p<0.01), and intramural gastric pH (r:0,352) (p:0,028). HI showed correlation with PVD (r:-0,600), MFI (r:-0,864), systolic (r:-0,359) and median (r:-0,350) blood pressure, CI (r:-0,389), arterial pH (r:-0,458), SvO2 (r:-0,492), ICAF (r:-0,458) (all p<0.01), systemic vascular resistance index (r:0,316) (p:0,027) and diastolic blood pressure (r:-0,291) (p:0,038). Conclusions Microcirculation parameters (PVD, MFI and IH) were consistent and related to global hemodynamic and tissue perfusion parameters.

23 Utility Of Microcirculation Analysis in a Paediatric Animal Model of Hypovolemic Shock

Background and aims Evaluation of tisular perfusion is very important in critically ill patients. Several techniques are used to assess tisular blood flow. Most of them are invasive and non accurate. Sidestream dark field imaging is proposed to be a useful non-invasive method to evaluate microcirculation. Methods Prospective, observational study in 17 two month-old piglets (8.6±1.1kg). Following mechanical ventilation, hypovolemic shock was induced by controlled 30 ml/kg bleed. 5 video sequences were recorded in each pig at basal time, during shock, and after fluid resuscitation using Microscan Microvision® device. Recorded video sequences were analysed later. Microcirculation was assessed determining perfused vessel density (PVD), microvascular flow index (MFI) and heterogeneity index (HI). Automated vascular analysis (AVA®) software was used to analyze the sequences. Results Before bleed median values for PVD (13.6/mm3 ±2.4) and MFI (2.75±0.22) where higher and HI (0.21±0.14) was lower than during shock (12.4/mm3±1.4, 1.97±0.43 and 0.58±0.36 respectively) (p<0.05). After fluid resuscitation PVD and MFI median values increased (13.69/mm3±1.56 and 2.63±0.26 respectively) and HI decreased (0.32±0.22) (p<0.05). Conclusions Lower vessel density and slower microvascular blood flow and higher flow heterogeneity occurred during shock. Computerized microcirculation analysis using sidestream dark field was able to distinguish between basal condition and hypovolemic shock and between hypovolemic shock and after fluid resuscitation.

Análisis del Sistema de Información SEC95 bajo una metodología contable

We try to study National Accounting System from an accounting point of view in this paper. The last System of National Account by Europena Union (EAS95) uses conceptual topics that it permits its study from accounting approach. We are going to use a logical deductive schedule - typical from conceptual framework - to obtain interesting conclusions.