LatAm’s political stability, vigorous growth, and the liberalisation of the electricity markets coupled with the privatisation of their main companies account for the region’s recent protagonism. As a result, deal activity in the LatAm’s power industry increased substantially in the last decade, and understanding of the main challenges faced during the post-merger integration stage of the M&A process became critical for firms using M&A as a tool to accomplish corporate objectives. However, M&A practitioners cannot resort to the literature, as studies pertinent to the LatAm’s power industry are still incipient. In view of the above, the value of this research lies in the insights gained by examining current practice in post-merger integration in the LatAm’s power industry with the aid of semi structure interviews with seasoned M&A executives. Furthermore, by comparing current practice and the literature on the matter, a novel comprehension of the topic in the LatAm’s power industry context is established, and future discussion via cross-pollination of experiences is facilitated and energized. Collectively, the research’s findings provide the following considerations for current and future M&A experts in the LatAm’s power industry, particularly those responsible of leading the post--merger integration process. Taking a conservative stance on synergy assessment, and concentrating the post-merger integration to deliver rather conservative results, and when possible to capitalise on new sources of value creation are determinants of successful deals in the LatAm’s power industry; the highly regulated nature of the business, and the latent risks related to the political and social views about the role of private investors in the provision of public services support this recommendation. Due diligence is not a ‘hygiene factor’ but a determinant of successful post--merger integration; due diligence should be carried out to match up the entire post-merger integration process, identify hurdles and levers to drive the transformation, estimate how long it would take to realise synergies, and understand how the target’s management practices, routines, idiosyncrasy, and beliefs need to be moulded to make the achievement of the deal objectives possible. LatAm’s power companies should rely on the best practices of post-merger integration outlined in the literature in topics such as planning, measurement and monitoring, human resources, and communication in order to enhance the predictability and reassessment of the process, facilitate employees’ buy-in and management of stakeholders’ expectations, and minimise disruption of day-to-day activities. However, as long as the integration is anchored to the deal’s value drivers, flexibility should be allowed to adapt the plan in the meantime. Standard views about leadership, culture, organisation, and speed of integration should be avoided, as these post-merger integration topics are conditional on the deal type, and the extent to which target and acquirer firms’ organisation, processes, and culture need to change after the transaction. Practices related to these topics should be designed and deployed according to an in-depth examination of the integration approach required by the deal. Practitioners should ensure that ‘buy teams’ and ‘integration teams’ are connected; in particular, senior professionals from technical and operational positions should be involved in the planning and design of the post-merger integration to estimate synergies and risks. Furthermore, people in the ‘buy teams’ should be held accountable also for the success of the post-merger integration. There is no cookie-cutter approach to post-merger integration in the LatAm’s power industry; considerably more contingent research, and in-depth case studies are required in order to avoid getting in standard views of post-merger integration.

Various town centres in the UK have been experiencing worrying symptoms, such as store closures, reduction of footfall, and decrease of retail floor-space. Specifically for the town centres in Greater Manchester, none of the alternatives considered for addressing this problem contemplated the potential of smartphones, personalisation, and social networks. This dissertation is motivated by the current relevance of these topics in different contexts; businesses, social and individual behaviour, retailers, and so forth. The goal of this dissertation is to develop a conceptual model where town centres use technologies and information about individuals to influence their attitude to visit the town centre. Explicitly, the model uses digital footprints in social media and social networks, and data from mobile and static sensors, to build a profile of UK smartphone users. From the information inferred, a personalised message or service can be delivered to the smartphone user which would influence his or her attitude towards visiting the town centre. The model is based on information flowing in both directions benefiting the user as well as the town centre. As sharing, extracting, and using information is an important part of the conceptual model, it is essential that it transmits trust to the users about the privacy of the data, and about the way it is handled. However, the empirical test of the model was not within the scope of this dissertation. Hence, it is proposed to be undertaken as a further research.

Based on the characteristics of the study area, and those of the fauna studied, corridor designs were proposed using a methodology that considered three main elements: 1) Evaluation of habitat use by wildlife; 2) Use of a Geographical Information System (GIS) to define corridor boundaries (pathways between habitat quality ranks); 3) Management regulations using the corridor as part of the landscape. Herbivores were consistently present in those areas covered by primary forest. Omnivores were located in a wider variety of covers (grass and agriculture, secondary forest, primary forest, melina). Wildcats were located in primary and secondary forest cover types (mainly used by their herbivore prey). The three guilds were maintained far from highways and human settlements but near forest and water resources. Several species crossed the highways that surround the Golfo Dulce Forest Reserve (GDFR). Maps show that available habitat areas of ""excellent"" and ""good"" habitat quality features, were reduced for the species Panthera onca and Puma concolor, and their conflict areas were more extensive; this fact probably pushed these wildcats to move into heavily altered environments. This study reinforced affirmations about the necessity of corridors, based on identification of habitat that meets minimum quality requirements for wildlife (corridor users), and that defines or modifies their spatial distribution. The pathways designed by this procedure coincide with prior studies showing that critical areas for all wildcats species (and for other species related to them) were located north of Corcovado National Park (CNP), San Juan, Mogos, and the area where Piedras Blancas National Park (PBNP) borders the Golfo Dulce Forest Reserve (GDFR). However, the spatial location of corridors is quite different in this proposal and other possible pathway was identified for P. onca and its prey. This pathway was found to be in conflict toward Drake and wetlands of Sierpe Terraba too.

Active portfolio management aims to deliver superior returns through using an extensive analysis of securities in order to identify mispriced stocks and estimate alphas. Moreover, an active strategy relies on the capability of the active manager to transform his/her forecasting skills into an active portfolio. This thesis assesses the effects of investment constraints in the ex ante capabilities of an active manager to construct portfolios through the fundamental law of active management, and provides evidence on the efficiency loss of the manager in presence of such constraints through a Monte Carlo simulation. 

Texto en el que se explica el tratado firmado entre Colombia y Estados Unidos, el 6 de abril de 1914, con el fin de terminar las diferencias provenientes de la separación de Panamá del territorio colombiano. El documento fue escrito por el entonces Ministro de Relaciones Exteriores, Marco Fidel Suárez, quien señala que a su juicio el tratado no es benéfico para Colombia, pero es un mal menor si se compara con otras soluciones propuestas.

Informe redactado por Tomás Brown, comisionado para realizar una visita a la ferrería de Samacá, con el fin de identificar los trabajos realizados en la empresa. A lo largo del documento se da cuenta de los edificios con los que cuenta la compañía, el estado de las minas, el tipo de material extraído, así como el presupuesto para complementar las obras pendientes, entre otros.

Documento en el que Mariano Tanco explica a la opinión pública las razones por las cuales ha decidido rechazar el cargo público que el gobierno le ha ofrecido.

Documento en el que se ofrece una opinión respecto a las oportunidades de venta de las reservas del Ferrocarril de Panamá por parte del Estado. A lo largo del texto, que conserva la ortografía de la época, se hace mención de qué son dichas reservas y el porvenir de las mismas, se justifica la necesidad de la venta y se examinan las propuestas de compra que existen.

Documento en el que Luis Segundo de Silvestre, secretario privado del gobierno, presenta al presidente de la Confederación Granadina, Mariano Ospina Rodríguez, un proyecto gubernamental a partir del cual se busca la creación del Instituto Nacional de Ciencias y Bellas Artes. A lo largo del documento, que conserva la ortografía de la época, Silvestre señala la importancia de que el país cuente con una institución que vele por el desarrollo y mejoramiento de la educación, las artes y la ciencia. También informa sobre la necesidad de contar con fondos presupuestales que permitan desarrollar esta iniciativa y la manera en que debía organizarse.

Informe de una visita que el Secretario de Hacienda departamental, Januario Henao, realizó a la Compañía del Ferrocarril de Antioquia. A lo largo del documento se informa a los legisladores acerca del funcionamiento de la empresa, los gastos destinados al desarrollo de obras, los kilómetros de vías férreas construidas, la administración de la compañía, el capital invertido en la construcción del ferrocarril, entre otros.