Cultural tourism in Northwest Portugal – the case of the world heritage site of Guimarães

A cidade de Guimarães, no noroeste português, é um espaço imbuído de um forte significado simbólico e cultural. A acreditação pela U.N.E.S.C.O. do seu centro histórico como Património Cultural da Humanidade, em Dezembro de 2001, contribuiu significativamente para aumentar o seu potencial em termos turísticos. Na realidade, desde aquela data, tem-se assistido a um aumento sustentado do número de visitantes. O presente capítulo debruça-se sobre a análise de alguns resultados de um inquérito por questionário aplicado aos residentes do município de Guimarães com o objetivo de avaliar a sua perceção dos benefícios que a atividade turística pode trazer. O inquérito foi implementado entre Janeiro e Março de 2010. Os resultados mostram que aqueles revelam uma perceção favorável dos impactos do turismo e que esta perceção está correlacionada com a idade e o nível de instrução dos inquiridos.

Measuring fund performance using multi-factor models: evidence for the Portuguese market

This paper examines the performance of Portuguese equity funds investing in the domestic and in the European Union market, using several unconditional and conditional multi-factor models. In terms of overall performance, we find that National funds are neutral performers, while European Union funds under-perform the market significantly. These results do not seem to be a consequence of management fees. Overall, our findings are supportive of the robustness of conditional multi-factor models. In fact, Portuguese equity funds seem to be relatively more exposed to smallcaps and more value-oriented. Also, they present strong evidence of time-varying betas and, in the case of the European Union funds, of time-varying alphas too. Finally, in terms of market timing, our tests suggest that mutual fund managers in our sample do not exhibit any market timing abilities. Nevertheless, we find some evidence of timevarying conditional market timing abilities but only at the individual fund level.

Models for the Reverse Engineering of Java/Swing Applications

Abstract. Interest in design and development of graphical user interface (GUIs) is growing in the last few years. However, correctness of GUI's code is essential to the correct execution of the overall software. Models can help in the evaluation of interactive applications by allowing designers to concentrate on its more important aspects. This paper describes our approach to reverse engineering abstract GUI models directly from the Java/Swing code.

Color Models and Illumination Changes

Color model representation allows characterizing in a quantitative manner, any defined color spectrum of visible light, i.e. with a wavelength between 400nm and 700nm. To accomplish that, each model, or color space, is associated with a function that allows mapping the spectral power distribution of the visible electromagnetic radiation, in a space defined by a set of discrete values that quantify the color components composing the model. Some color spaces are sensitive to changes in lighting conditions. Others assure the preservation of certain chromatic features, remaining immune to these changes. Therefore, it becomes necessary to identify the strengths and weaknesses of each model in order to justify the adoption of color spaces in image processing and analysis techniques. This chapter will address the topic of digital imaging, main standards and formats. Next we will set the mathematical model of the image acquisition sensor response, which enables assessment of the various color spaces, with the aim of determining their invariance to illumination changes.

Extracting and verifying coordination models from source code

Current software development relies increasingly on non-trivial coordination logic for com- bining autonomous services often running on di erent platforms. As a rule, however, in typical non-trivial software systems, such a coordination layer is strongly weaved within the application at source code level. Therefore, its precise identi cation becomes a major methodological (and technical) problem which cannot be overestimated along any program understanding or refactoring process. Open access to source code, as granted in OSS certi cation, provides an opportunity for the devel- opment of methods and technologies to extract, from source code, the relevant coordination information. This paper is a step in this direction, combining a number of program analysis techniques to automatically recover coordination information from legacy code. Such information is then expressed as a model in Orc, a general purpose orchestration language

Residents’ perception of the benefits of cultural tourism: the case of Guimarães

In many cities throughout Europe and the rest of the world, cultural tourism plays a major role in local economic development. Tourism also acts to preserve cultural heritage, as it provides a way to acquire the revenue needed to restore and preserve historical buildings, and encourages local people to value their traditions and festivals. However, tourism success can be a double-edged sword with tourist flows having a strong impact on the quality of life of residents when certain tourist thresholds are surpassed. This paper aims to address local residents’ perception of the benefits of cultural tourism. To capture their perception, a survey was implemented, addressed to both the city centre inhabitants and the non-urban residents of the Guimarães municipality.

Tourists’ perceptions of world heritage destinations: the case of Guimarães

Guimarães is a world heritage site (UNESCO) since December 2001, and is hosting the European Capital of Culture (ECOC) in 2012. This paper examines the profile, destination image and motivations of tourists’ visiting Guimarães before the cultural event. Based on survey responses from 276 tourists, this study found that tourists arrived to Guimarães came from the two most important cities in the northern part of Portugal (Porto and Braga). They are relatively young and well educated compared with the average tourists that visited Portugal. The results suggest that many tourists are aware of the city status as a world heritage site encompassing a historic centre, monuments, and architectural buildings. Further, these perceptions shape the image of Guimarães, as the factor analysis indicates that “historical background and functionality” is the most reliable and valid factor behind the choice of visiting the city. Finally, the main tourists’ motivation to choose Guimarães as theirs destination is educational, rather than recreational as they want to live a learning experience.

Comparative analysis between statistical and artificial intelligence models in business failure prediction

A growing number of predicting corporate failure models has emerged since 60s. Economic and social consequences of business failure can be dramatic, thus it is not surprise that the issue has been of growing interest in academic research as well as in business context. The main purpose of this study is to compare the predictive ability of five developed models based on three statistical techniques (Discriminant Analysis, Logit and Probit) and two models based on Artificial Intelligence (Neural Networks and Rough Sets). The five models were employed to a dataset of 420 non-bankrupt firms and 125 bankrupt firms belonging to the textile and clothing industry, over the period 2003–09. Results show that all the models performed well, with an overall correct classification level higher than 90%, and a type II error always less than 2%. The type I error increases as we move away from the year prior to failure. Our models contribute to the discussion of corporate financial distress causes. Moreover it can be used to assist decisions of creditors, investors and auditors. Additionally, this research can be of great contribution to devisers of national economic policies that aim to reduce industrial unemployment.

The role of cultural mega events in the enhancement of city’s image attributes: differences between engaged and attendee participants

In a time of fierce competition between regions, an image serve as a basis to develop a strong sense of community, which fosters trust and cooperation that can be mobilized for regional growth. A positive image and reputation could be used in the promotional activities of the region benefiting all the stakeholders as a whole. Mega cultural events are frequently used to attract tourists and investments to a region, but also to enhance the city’s image. This study adopts a marketing/communication perspective of city’s image, and intends to explain how the image of the city is perceived by their residents. Specifically, we intend to compare the perceptions of residents that effectively participated in the Guimarães European Capital of Culture (ECOC) 2012 (engaged residents), and the residents that only assisted to the event (attendees). Several significant findings are reported and their implications for event managers and public policy administrators presented, along with the limitations of the study.

O reconhecimento dos bens do património histórico, artístico e cultural: esudo de caso dos municípios da sub-região Minho-Lima

Este trabalho tem por objetivos analisar o disposto no POCAL (1999), na NICSP nº 17 do IPSASB (2006c), e na opinião de diversos autores, quanto ao reconhecimento dos bens do património, histórico, artístico e cultural (BPHAC); bem como, verificar se poderão existir problemas inerentes ao reconhecimento destes bens, na sub-região Minho-Lima, ultrapassáveis com a adoção das NICSP em Portugal. Do estudo efetuado, concluímos que o POCAL (1999) não apresenta os requisitos para o reconhecimento dos ativos. A NICSP nº 17 (IPSASB, 2006c) refere que, se a entidade reconhecer esses elementos como ativos, deve observar os requisitos para o reconhecimento dos ativos fixos tangíveis mencionados nessa norma. Atendendo também a que alguns dos municípios portugueses sentem dificuldades no reconhecimento dos bens do património, histórico, artístico e cultural, concluímos que adotar um novo Sistema de Normalização Contabilística aplicável à Administração Pública (SNCAP), assente nas NICSP, poderá ser a solução para ultrapassar tais dificuldades e garantir alguma comparabilidade da informação.

Comparative Analysis between Statistical and Artificial Intelligence Models in Business Failure Prediction

A growing number of predicting corporate failure models has emerged since 60s. Economic and social consequences of business failure can be dramatic, thus it is not surprise that the issue has been of growing interest in academic research as well as in business context. The main purpose of this study is to compare the predictive ability of five developed models based on three statistical techniques (Discriminant Analysis, Logit and Probit) and two models based on Artificial Intelligence (Neural Networks and Rough Sets). The five models were employed to a dataset of 420 non-bankrupt firms and 125 bankrupt firms belonging to the textile and clothing industry, over the period 2003–09. Results show that all the models performed well, with an overall correct classification level higher than 90%, and a type II error always less than 2%. The type I error increases as we move away from the year prior to failure. Our models contribute to the discussion of corporate financial distress causes. Moreover it can be used to assist decisions of creditors, investors and auditors. Additionally, this research can be of great contribution to devisers of national economic policies that aim to reduce industrial unemployment.

Cultural mega-events and the enhancement of a city's image: differences between engaged participants and attendees

A city’s image can serve as the basis upon which to develop a strong sense of community. This, in turn, fosters trust and cooperation which may attract tourists and investment, and drive regional economic growth. One strategy to enhance a city’s image is to host cultural mega-events. This study focuses on Guimarães, one of the European Capitals of Culture of 2012, and adopts a marketing communication perspective to explore issues of city image. The objective of the study reported was to understand whether images of Guimarães improved after it hosted the cultural mega-event. To attain this goal, we compare the perceptions of residents who participated in the event (engaged participants) and attendees. Several significant findings are reported and their implications for event managers and public policy administrators are presented, along with the limitations of the study.