Fatigue Prediction on Fibrin Poly-ε-caprolactone Macroporous Scaffolds

Tissue engineering applications rely on scaffolds that during its service life, either for in-vivo or in vitro applications, are under mechanical solicitations. The variation of the mechanical condition of the scaffold is strongly relevant for cell culture and has been scarcely addressed. Fatigue life cycle of poly-ε-caprolactone, PCL, scaffolds with and without fibrin as filler of the pore structure were characterized both dry and immersed in liquid water. It is observed that the there is a strong increase from 100 to 500 in the number of loading cycles before collapse in the samples tested in immersed conditions due to the more uniform stress distributions within the samples, the fibrin loading playing a minor role in the mechanical performance of the scaffolds

Improving the environmental performance of bedding products by using life cycle assessment at the design stage

Improvement of the environmental performance of processes and products is a common objective in industry, and has been receiving increased attention in recent years. The main objective of this work is to evaluate the potential environmental impact of two bedding products, a polyurethane foam mattress (PFM) and a pocket spring mattress (PSM). These two types are the most common mattresses used in Europe. A Life Cycle Assessment (LCA) shows that the PFM has a higher environmental impact than the PSM. For both products the main cause of environmental impact is the manufacturing process, respectively the polyurethane foam block moulding process for the PFM, and the pocket spring nucleus process for the PSM. A scenario analysis shows the possibility of reducing the environmental impact of the products’ life cycle using an alternative End-of-Life scenario, resorting to incineration rather than landfill. Two strategies were also studied in order to reduce the environmental impact of the PFM: (1) reutilization of foam that was sent to the waste system management, and (2) a 20% weight reduction of the polyurethane foam. The second strategy has proven to be the most effective.

Multi-scale modeling of the mechanical behavior of polymer-based materials

Polymers have become the reference material for high reliability and performance applications. In this work, a multi-scale approach is proposed to investigate the mechanical properties of polymeric based material under strain. To achieve a better understanding of phenomena occurring at the smaller scales, a coupling of a Finite Element Method (FEM) and Molecular Dynamics (MD) modeling in an iterative procedure was employed, enabling the prediction of the macroscopic constitutive response. As the mechanical response can be related to the local microstructure, which in turn depends on the nano-scale structure, the previous described multi-scale method computes the stress-strain relationship at every analysis point of the macro-structure by detailed modeling of the underlying micro- and meso-scale deformation phenomena. The proposed multi-scale approach can enable prediction of properties at the macroscale while taking into consideration phenomena that occur at the mesoscale, thus offering an increased potential accuracy compared to traditional methods.

O impacto da introdução de impostos proporcionais nas receitas fiscais e performance económica – as experiências de Novos Estados Membros da UE27

Nos últimos anos tem-se debatido o regresso a sistemas de impostos proporcionais em muitas economias europeias. Apesar do sistema de impostos proporcionais puro nunca ter sido introduzido em nenhuma economia, alguns aspectos deste sistema foram postos em prática em cerca de trinta países. Neste artigo analisam-se algumas das experiências dos Novos Estados Membros da União Europeia que implementaram impostos proporcionais, averiguando o seu impacto sobre as receitas fiscais, saldo orçamental, crescimento económico e desemprego. A análise estatística permite concluir que as receitas fiscais aumentaram na maior parte daquelas economias e que observaram taxas de crescimento económico muito mais elevadas do que os restantes Novos Estados Membros com sistemas de impostos progressivos.

Energy harvesting performance of piezoelectric electrospun polymer fibers and polymer/ceramic composites

The energy harvesting efficiency of electrospun poly(vinylidene fluoride), its copolymer vinylidene fluoride-trifluoroethylene and composites of the later with piezoelectric BaTiOon interdigitated electrodes has been investigated. Further, a study of the influence of the electrospinning processing parameters on the size and distribution of the composites fibers has been performed. It is found that the best energy harvesting performance is obtained for the pure poly(vinylidene fluoride) fibers, with power outputs up to 0.03 W and 25 W under low and high mechanical deformation. The copolymer and the composites show reduced power output due to increased mechanical stiffness. The obtained values, among the largest found in the literature, the easy processing and the low cost and robustness of the polymer, demonstrate the applicability of the developed system.

Conditioning information in mutual fund performance evaluation: Portuguese evidence

We estimate and compare the performance of Portuguese-based mutual funds that invest in the domestic market and in the European market using unconditional and conditional models of performance evaluation. Besides applying both partial and full conditional models, we use European information variables, instead of the most common local ones, and consider stochastically detrended conditional variables in order to avoid spurious regressions. The results suggest that mutual fund managers are not able to outperform the market, presenting negative or neutral performance. The incorporation of conditioning information in performance evaluation models is supported by our findings, as it improves the explanatory power of the models and there is evidence of both time-varying betas and alphas related to the public information variables. It is also shown that the number of lags to be used in the stochastic detrending procedure is a critical choice, as it will impact the significance of the conditioning information. In addition, we observe a distance effect, since managers who invest locally seem to outperform those who invest in the European market. However, after controlling for public information, this effect is slightly reduced. Furthermore, the results suggest that survivorship bias has a small impact on performance estimates.

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.

PERFORMANCE CAPTURE: À PROCURA DAS MELHORES TÉCNICAS E ESTÉTICAS NO CONTEXTO DA ANIMAÇÃO DIGITAL

This paper investigates realism in character computer animation, which triggered the development of new techniques and aesthetic in spectacular cinema and contemporary culture. With the advent of motion or performing capture, animation has made possible that virtual characters or digital creatures reach higher levels in emotional acting, taking place in virtual cinematic worlds or even special effects movies. This technology, when placed at the service of imagination and fantasy can provide new dimensions in character motion and communication. In this context, projects like Peter Jackson’s (2001) The Lord of the Rings, James Cameron’s Avatar (2009) and more recently Steven Spielberg’s Tintin (2011) demonstrate that motion technology is constantly evolving, and it represents a credible option to explore new techniques and aesthetic in contemporary animation.

Performance measurement and management in Portuguese law enforcement

Performance measurement of police services is complicated by ambiguous and complex goal- and objectives-setting, and by the difficulties of measuring outputs. This article looks at the organizational and management changes being made in Portuguese police forces. The authors fill a gap in the literature on performance measurement in Portugal by taking a national approach to the study of how law enforcement agencies are introducing new management accounting changes. The article therefore widens the debate on performance measurement and performance improvements in law enforcement.

Style and performance of international socially responsible funds in Europe

This paper analyses the performance and investment styles of internationally oriented Socially Responsible Investment (SRI)funds, domiciled in eight European markets, in comparison with characteristics-matched conventional funds. To the best of our knowledge, this is the first multi-country study, focused on international SRI funds (investing in Global and in European equities), to combine the matched-pairs approach with the use of robust conditional multi-factor performance evaluation models, which allow for both time-varying alphas and betas and also control for home biases and spurious regression biases.In general, the results show that differences in the performance of international SRI funds and their conventional peers are not statistically significant. Regarding investment styles, SRI and conventional funds exhibit similar factor exposures in most cases. In addition,conventional benchmarks present a higher explaining power of SRI fund returns than SRI benchmarks. Our results also show significant differences in the investment styles of SRI funds according to whether they use “best-in-class” screening strategies or not. When compared to SRI funds that employ simple negative and/or positive screens, SRI “best-in-class” funds present significantly lower exposures to small caps and momentum strategies and significantly higher exposures to local stocks.

Improving FEM crash simulation accuracy through local thickness estimation based on CAD data

In this paper, we present a method for estimating local thickness distribution in nite element models, applied to injection molded and cast engineering parts. This method features considerable improved performance compared to two previously proposed approaches, and has been validated against thickness measured by di erent human operators. We also demonstrate that the use of this method for assigning a distribution of local thickness in FEM crash simulations results in a much more accurate prediction of the real part performance, thus increasing the bene ts of computer simulations in engineering design by enabling zero-prototyping and thus reducing product development costs. The simulation results have been compared to experimental tests, evidencing the advantage of the proposed method. Thus, the proposed approach to consider local thickness distribution in FEM crash simulations has high potential on the product development process of complex and highly demanding injection molded and casted parts and is currently being used by Ford Motor Company.

Predicting the mechanical behavior of amorphous polymeric materials under strain through multi-scale simulation

Polymeric materials have become the reference material for high reliability and performance applications. However, their performance in service conditions is difficult to predict, due in large part to their inherent complex morphology, which leads to non-linear and anisotropic behavior, highly dependent on the thermomechanical environment under which it is processed. In this work, a multiscale approach is proposed to investigate the mechanical properties of polymeric-based material under strain. To achieve a better understanding of phenomena occurring at the smaller scales, the coupling of a finite element method (FEM) and molecular dynamics (MD) modeling, in an iterative procedure, was employed, enabling the prediction of the macroscopic constitutive response. As the mechanical response can be related to the local microstructure, which in turn depends on the nano-scale structure, this multiscale approach computes the stress-strain relationship at every analysis point of the macro-structure by detailed modeling of the underlying micro- and meso-scale deformation phenomena. The proposed multiscale approach can enable prediction of properties at the macroscale while taking into consideration phenomena that occur at the mesoscale, thus offering an increased potential accuracy compared to traditional methods.

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.

A divulgação de informação ambiental e a performance financeira das empresas cotadas em Portugal

O objectivo deste artigo é investigar a relação entre a divulgação de informação ambiental nos relatórios e contas anuais e a performance financeira no mercado de capitais das empresas cotadas em Portugal. Para tanto, é usada uma amosta de 35 empresas não financeiras cotadas no mercado de cotações oficiais da Euronext Lisboa no período de 5 anos compreendido entre 2000 e 2004. Os resultados empíricos obtidos sugerem que as empresas que não divulgam informação ambiental têm uma performance financeira – rendibilidade, risco e rendibilidade ajustada ao risco – superior às que o fazem. Em particular, as empresas que apresentam um melhor relato ambiental, divulgando informação ambiental qualitativa e quantitativa, são as que apresentam pior performance financeira. Contudo, as diferenças encontradas ao nível da performance financeira não são estatisticamente significativas. Estes resultados são robustos às duas metodologias usadas: estudos de carteira e tabelas de contingência.

Performance of european socially responsible funds during market crises: evidence from France

This paper investigates the performance, investment styles andmanagerial abilities of French socially responsible investment (SRI) funds investing in Europe during crisis and non-crisis periods. Our results show that SRI funds significantly underperformcharacteristics-matched conventional funds during non-crisis periods, but match the performance of their peers duringmarket downturns. The underperformance of SRI funds during good economic states is driven by funds that use negative screens, since funds that use only positive screens performsimilarly to conventional funds across differentmarket conditions. SRI and conventional funds showsignificant differences in risk exposures during non-crisis periods but exhibit much more similar investment styles during crises. Furthermore,we find little evidence of significant differences inmanagerial abilities during bad economic states. Yet, during non-crisis periods, SRI and conventional fund managers exhibit significantly different style-timing abilities and these differences are also related to screening strategies.