Cross-delisting, financial constraints and investment sensitivities

We investigate the impact of cross-delisting on firms’ financial constraints and investment sensitivities. We find that firms that cross-delisted from a U.S. stock exchange face stronger post-delisting financial constraints than their cross-listed counterparts, as measured by investment-to-cash flow sensitivity. Following a delisting, the sensitivity of investment-to-cash flow increases significantly and firms also tend to save more cash out of cash flows. Moreover, this increase appears to be primarily driven by informational frictions that constrain access to external financing. We document that information asymmetry problems are stronger for firms from countries with weaker shareholders protection and for firms from less developed capital markets.

Assessing the production of jet mix columns using alkali activated waste based on mechanical and financial performance and CO2 (eq) emissions

Recent research has proved the potential of alkaline activated fly-ash for soil stabilisation. However, such studies have not focused on the link between financial, mechanical and environmental aspects of this solution, but only on their absolute mechanical properties. The present paper characterises the mechanical behaviour of a large spectrum of activator-ash-soil combinations used to build jet mixing columns, analysing also the cost and CO2 (eq) emissions. The concern with these two vectors forced a decrease in the quantity of stabilising agent added to the soil, relatively to previous research, and the effects of such low quantities have not yet been published. However, the results clearly showed a significant improve in strength, still well above the average values expected when improving the stressstrain behaviour of a weak soil. Uniaxial compressive strength tests were used to assess the effects of the fly-ash percentage, the alkalieash ratio and the water content. The carbon calculator recently developed by the European Federation of Foundation Contractors and the Deep Foundations Institute was used to quantify the CO2 (eq) emissions associated with this technique. The financial cost was estimated based on the experience of a major Portuguese contractor. For comparison purposes, soil cement mixtures were also analysed, using similar conditions and tools used for the soil-ash analysis. Results showed that the cement and ash solutions are very similar in terms of overall performance, with some advantage of the former regarding financial cost, and a significant advantage of the latter regarding the CO2 (eq) emissions. This new grout, although it is in an embryonic stage, it has the potential for broader developments in the field.

La dimensione di diritto fondamentale della maternità nel Diritto dell’Unione: politiche europee di conciliazione della vita famigliare e della vita professionale in tempo di crisi

Dissertação de mestrado em Direito da União Europeia

Literacy practices in adult learning biographies: possibilities and constraints

[Extrat] The answer to the social and economic challenges that it is assumed literacy (or its lack) puts to developed countries deeply concerns public policies of governments namely those of the OECD area. In the last decades, these concerns gave origin to several and diverse monitoring devices, initiatives and programmes for reading (mainly) development, putting a strong stress on education. UNESCO (2006, p. 6), for instance, assumes that the literacy challenge can only be met raising the quality of primary and secondary education and intensifying programmes explicitly oriented towards youth and adult literacy. (...)

School governance and academic excellence: the representations of distinguished students in an annual award of excellence

Within a research project on «academic excellence in the state school», this paper is a contribution to the sociological reflection on the cultural and organisational characteristics of the school and its relationship with the academic success of students. The data we present stem from a case study underway at a secondary school in the north of Portugal, referring to the universe of students that since 2003 have distinguished themselves for achieving grades equal to or greater than 18 (on a scale of 0 to 20) and have thus been included in the school’s Framework of Excellence. From a contextual approach to this educational practice, we focused on the cultural characteristics of the school/subject as analytical support for the study of school and non-school dimensions in their mutual connections. To this end, we used the information from document analysis and data collected from a questionnaire survey administered to more than two-thirds of the students included in the above-mentioned Framework of Excellence. Subsequently, we will use the data from this survey to understand the extent to which academic excellence is perceived as an indivisible social construction of the school’s political and organisational matrix, particularly in terms of the educational and teaching guidelines adopted by the management body. We will conclude by questioning the meaning of the school’s management policies regarding the emphasis on educational outcomes, with particular focus on the representations of excellent students in the processes of school leadership, teaching organisation, school merit and justice.

Form tutors in the joint teaching of music: perspectives and experiences

In the Portuguese school system, form tutors (FTs) are an intermediate education management structure. The form tutor is responsible for a position of coordination and orientation with a «threefold function»: a relationship with students, relationship with the student’s family and relationship with other class teachers. The joint teaching of music is a part of the educational system in basic education. It is optional and provides musical and instrumental training to students who are interested in taking it. In order to achieve this, there is a system, subject to protocols, between general education schools and schools specializing in teaching music. There is also the position of FT in specialized schools and it also includes a «threefold function». However, these FTs have the additional role of representing music teachers at the class council, which is held at the general education school. Thus, in these cases, both FTs have a fourth joint area, between the music school and the general education school, which makes the relationship between them even more complex. This paper is based on the analysis of empirical data obtained from the testimonies of FTs regarding their representations and experiences in leadership and the coordination of teachers among schools in which there is a joint teaching system. The aim of collecting narratives is to look into some of the main challenges and confrontations related to leadership issues, which we assume to be the focus of those who have the role of form tutor in that specific context.

Financial stress and sovereign debt composition

"Published online: 19 Oct 2015"

Digital literacy, technology and social inclusion: making sense of one-to-one computer programmes around the world

This book was produced in the scope of a research project entitled “Navigating with ‘Magalhães’: Study on the Impact of Digital Media in Schoolchildren”. This study was conducted between May 2010 and May 2013 at the Communication and Society Research Centre, University of Minho, Portugal and it was funded by the Portuguese Foundation for Science and Technology (PTDC/CCI-COM/101381/2008).

Foreword [to Digital literacy, technology and social inclusion: making sense of one-to-one computer programmes around the world]

(Excerto) In times past, learning to read, write and do arithmetic was to get on course to earn the “writ of emancipation” in society. These skills are still essential today, but are not enough to live in society. Reading and critically understanding the world we live in, with all its complexity, difficulties and challenges, require not only other skills (learning to search for and validate information, reading with new codes and grammar, etc) but, to a certain extent, also metaskills, matrixes and mechanisms that are transversal to the different and new literacies, are necessary. They are needed not just to interpret but equally to communicate and participate in the little worlds that make up our everyday activities as well as, in a broader sense, in the world of the polis, which today is a global world.

Introduction [to Digital literacy, technology and social inclusion: making sense of one-to-one computer programmes around the world]

This book was produced in the scope of a research project entitled “Navigating with ‘Magalhães’: Study on the Impact of Digital Media in Schoolchildren”. This study was conducted between May 2010 and May 2013 at the Communication and Society Research Centre, University of Minho, Portugal and it was funded by the Portuguese Foundation for Science and Technology (PTDC/CCI-COM/101381/2008). As we shall explain in more detail later in this book, the main objective of that research project was to analyse the impact of the Portuguese government programme named ´e-escolinha´ launched in 2008 within the Technological Plan for Education. This Plan responds to the principles of the Lisbon Strategy signed in 2000 and rereleased in the Spring European Council of 2005.

The real economic effects of cross-delistingfrom the united states: evidence on post-operating performance, financial constraints and stock crash risk

Tese de Doutoramento em Ciências Empresariais.