Does corruption inhibit foreign direct investment?

Globalization creates new opportunities for firms to invest abroad and many economies are making active efforts to attract Foreign Direct Investment (FDI) in order to promote economic growth. Decisions to invest abroad depend on a complex set of factors, but the least corrupt countries may attract more foreign direct investment because they provide a more favorable climate for investors. In this paper we investigate the impact of corruption on FDI inflows in 73 countries, over the period 1998-2008. Our results suggest that countries where corruption is lower, the FDI inflows are greater, and so controlling corruption may be an important strategy for increase FDI inflows.

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.

Certificação da qualidade e desempenho empresarial: evidência empírica para Portugal

This paper it is investigated the effect that quality certification has on Portuguese companies` performance, controlling simultaneously for the effect of a set of variables specific to the company and to the industry. Results suggest that quality certification does not have an instantaneous impact on companies’ performance. A positive and significant impact increasing function of the number of years that a company is certified. It is also highlighted a significant impact of company specific characteristics on its performance. In industries with a large number of companies with quality certification it is revealed a stronger effect of the years of certification on companies’ performance, as well as a significant effect of both company and industry specific characteristics on performance.

Palco: a multisensor realtime 3D cartoon production system

This paper presents Palco, a prototype system specifically designed for the production of 3D cartoon animations. The system addresses the specific problems of producing cartoon animations, where the main obj ective is not to reproduce realistic movements, but rather animate cartoon characters with predefined and characteristic body movements and facial expressions. The techniques employed in Palco are simple and easy to use, not requiring any invasive or complicated motion capture system, as both body motion and facial expression of actors are captured simultaneously, using an infrared motion detection sensor, a regular camera and a pair of electronically instrumented gloves. The animation process is completely actor-driven, with the actor controlling the character movements, gestures, facial expression and voice, all in realtime. The actor controlled cartoonification of the captured facial and body motion is a key functionality of Palco, and one that makes it specifically suited for the production of cartoon animations.

Developments regarding the integration of the occupational safety and health with quality and environment management systems

Nanotechnology is the manipulation of matter on na almost atomic scale to produce new structures, materials, and devices. As potential occupational exposure to nanomaterials (NMs) becomes more prevalente, it is importante that the principles of medical surveillance and risk management be considered for workers in the nanotechnology industry.However, much information about health risk is beyond our current knowledge. Thus, NMs presente new challenges to understanding, predicting, andmanageing potential health risks. First, we briefly describe some general features of NMs and list the most importante types of NMs. This review discusses the toxicological potential of NMs by comparing possible injury mechanism and know, or potentially adverse, health effects. We review the limited research to date for occupational exposure to these particles and how a worker might be exposed to NMs. The principles of medical surveillance are reviewed to further the discussion of occupational health surveillance are reviewed to further the discussion of occupational health surveillance for workers exposed to NMs. We outlinehow occupational health professionals could contribute to a better knowledge of health effects by the utilization of a health surveillance program and by minimizing exposure. Finally, we discuss the early steps towards regulation and the difficulties facing regulators in controlling potentially harmful exposures in the absence of suficiente scientific evidence.