Post-operating performance of cross-delisted firms from U.S. stock exchanges

We investigate the long-term performance of cross-delisted firms from U.S. stock markets. Using a sample of foreign firms listed and delisted from U.S. stock exchange markets over 2000-2012, we examine the operating performance and the long-run stock returns performance of firms post-cross-delisting. Our results suggest that cross-delisted firms have less growth opportunities than matched cross-listed firms in the long run. Moreover, firms that cross-delist after the passage of Rule 12h-6 of 2007 exhibit a significant decline in operating performance. In contrast, before the adoption of the Rule 12h-6, cross-delisted firms seem to be affected by the cost of a U.S. listing in the precross -delisting period. In addition, we provide evidence that cross-delisted firms underperform their cross-listed peers; cross-delisted firms experience negative average abnormal returns, especially in the post-delisting period.

Earnings management and stock price crashes post-crossdelisting

We test whether cross-delisted firms from the major U.S. stock exchanges experience an increase in crash risk associated with earnings management. Consistent with our prediction, we find that earnings management have a greater positive impact on stock price crash risk post-cross-delisting when compared to a sample of still cross-listed firms. Moreover, our results suggest that this effect is more pronounced for crossdelisted firms from countries with weaker investor protection and poorer quality of their information environment. We further examine whether managers’ ability to manipulate earnings increases post-cross-delisting around seasoned equity offerings. Our evidence shows that cross-delisted firms that engage in earnings management to inflate reported earnings prior to a seasoned equity offering are more likely to observe a subsequent stock price crash.

O "ser português" e o "outro": Revisitar a história de Portugal no diálogo com a civilização chinesa - O caso Tomás Pereira

Tese de Doutoramento em Ciências da Cultura - Especialidade em Culturas do Extremo Oriente

Ergosterol as a rapid measurement of Ganoderma rot of oil palm

Palm oil (PO) is a very important commodity for many countries and especially Indonesia and Malaysia who are the predominant producers. PO is used in ca. 30% of supermarket foods, cosmetics, cooking and as biodiesel. The growth of oil palms in plantations is controversial as the production methods contribute to climate change and cause environmental damage [1]. The plant is subjected to a devastating disease in these two countries caused by the white rot fungus Ganoderma. There are no satisfactory methods to diagnose the disease in the plant as they are too slow and/or inaccurate. The lipid compound ergosterol is unique to fungi and is used to measure growth especially in solid substrates. We report here on the use of ergosterol to measure the growth of Ganoderma in oil palms using HPLC and TLC methods [2]. The method is rapid and correlates well with other methods and is capable of being used on-site, hence improving the speed of analysis and allowing remedial action. Climate change will affect the health of OP [1] and rapid detection methods will be increasingly required to control the disease. [1] Paterson, RRM, Kumar, L, Taylor, S, Lima N. Future climate effects on suitability for growth of oil palms in Malaysia and Indonesia. Scientific Reports, 5, 2015, 14457. [2] Muniroh, MS, Sariah M, Zainal Abidin, MA, Lima, N, Paterson, RRM. Rapid detection of Ganoderma-infected oil palms by microwave ergosterol extraction with HPLC and TLC. Journal of Microbiological Methods, 100, 2014, 143–147.

Implementação da manutenção autónoma numa empresa de mobiliário

Dissertação de mestrado integrado em Engenharia e Gestão Industrial

Aplicação da metodologia TRIZ a um sistema de aproveitamento de águas pluviais de uma unidade hospitalar

Dissertação de mestrado integrado em Engenharia Civil

Produções independentes em arte e comunicação como ferramentas para a construção de realidades sociais: estudos de caso no Brasil

Dissertação de mestrado em Comunicação, Arte e Cultura

O simbólico como estratégia para a alteração comportamental: o caso Águas do Porto

Dissertação de mestrado em Ciências da Comunicação (área de especialização em Publicidade e Relações Públicas)

The isolation of Aspergillus spp from harvested maize in three Portuguese regions

In Portugal, maize is the cereal that involves more agriculture explorations. Aspergillus spp., among other species, are usually associated with this cereal, during drying and storage, making this commodity susceptible to mycotoxins (such as aflatoxins, ochratoxins, and cyclopiazonic acid). The aim of this study was to evaluate the mycotoxigenic potential of isolated Aspergillus strains from these maize samples and correlate it with the sampling place, the weather conditions, and local practices during drying and storage. The samples were collected between November 2008 and April 2009 in maize association of producers facilities in Coimbra, Santarém and Portalegre. The isolated strains were divided in three distinct groups, Aspergillus section Flavi, Aspergillus section Nigri and others Aspergillus. The preliminary results show that there are differences between the incidence of these groups in the three sampling places, especially in Coimbra, probably due to a lower mean temperatures and higher humidity levels. These data will be presented and discussed.