WOS 8th international conference - Book of Abstracts

Proceedings book of the WOS 8th international conference - Book of Abstracts Edited by WOS2015 - University of Minho Includes biographical references and index.

Equity offerings, stock price crash risk, and the impact of securities regulation: international evidence

We examine whether earnings manipulation around seasoned equity offerings (SEOs) is associated with an increase in the likelihood of a stock price crash post-issue and test whether the enactment of securities regulations attenuate the relation between SEOs and crash risk. Empirical evidence documents that managerial tendency to conceal bad news increases the likelihood of a stock price crash (Jin and Myers, 2006; Hutton, Marcus, and Tehranian, 2009). We test this hypothesis using a sample of firms from 29 EU countries that enacted the Market Abuse Directive (MAD). Consistent with our hypothesis, we find that equity issuers that engage in earnings management experience a significant increase in crash risk post-SEO relative to control groups of non-issuers; this effect is stronger for equity issuers with poor information environments. In addition, our findings show a significant decline in crash risk post-issue after the enactment of MAD that is stronger for firms that actively manage earnings. This decline in post-issue crash risk is more effective in countries with high ex-ante institutional quality and enforcement. These results suggest that the implementation of MAD helps to mitigate managers’ ability to manipulate earnings around SEOs.

Evaluating ubiquitous computing environments using 3D simulation

Human activity is very dynamic and subtle, and most physical environments are also highly dynamic and support a vast range of social practices that do not map directly into any immediate ubiquitous computing functionally. Identifying what is valuable to people is very hard and obviously leads to great uncertainty regarding the type of support needed and the type of resources needed to create such support. We have addressed the issues of system development through the adoption of a Crowdsourced software development model [13]. We have designed and developed Anywhere places, an open and flexible system support infrastructure for Ubiquitous Computing that is based on a balanced combination between global services and applications and situated devices. Evaluation, however, is still an open problem. The characteristics of ubiquitous computing environments make their evaluation very complex: there are no globally accepted metrics and it is very difficult to evaluate large-scale and long-term environments in real contexts. In this paper, we describe a first proposal of an hybrid 3D simulated prototype of Anywhere places that combines simulated and real components to generate a mixed reality which can be used to assess the envisaged ubiquitous computing environments [17].

O Esclavagismo dos Tempos Modernos e a Tutela Jurídica das suas Vítimas: os meios jurídicos ao serviço da recuperação psicológica das vítimas de tráfico de seres humanos

Dissertação de mestrado em Direitos Humanos

Development of sandwich panels of customized functionalities for the rehabilitation of the built patrimony

Dissertação de International Master in Sustainable Built Environment

Trabalho infantil: as crianças no mundo do espetáculo, moda e publicidade

Dissertação de mestrado em Direitos Humanos

O acesso enquanto direito humano: relato da Conferência Federation of International Human Rights Museums

Centro em Rede de Investigação em Antropologia UID/ANT/04038/2013