Market trends and dilemmas of parenthal participation in schools

Este artigo descreve e analisa o impacto da definição e implementação de um novo modelo de gestão dos estabelecimentos de ensino não superior (Dec-lei nº115_A/98) nos padrões de cidadania e equidade do ensino público Português. A institucionalização deste modelo representa uma mudança na matriz centralista e burocrática do referido ensino público e sugere uma aproximação às concepções neo-gerencialistas e neo-liberais que, desde meados dos anos 80, têm dominado a agenda política de muitos países desenvolvidos e de alguns organismos internacionais. Os resultados da pesquisa sugerem que a implementação do novo modelo de gestão contribuiu para reforçar os padrões de diferenciação social no ensino básico (1ºciclo) e, mais especificamente, para preservar as .vantagens competitivas. da classe média na escola pública Portuguesa.

Utilization of Interactive Internet in High Education

The present work reports on the practical cooperation between two Universities from Hungary and Portugal. Students from Portugal are remotely accessing an experimental facility, which is physically in Hungary. The cooperation among these Higher Education establishments allowed the development and testing of a Remote Laboratory at the BME. This paper reports on the characteristics and initial testing of the Thermocouples Rise Time Measurement System and provides information on development and students' feedback.

Return premiums of sustainable companies listed on the Spanish stock market

The purpose of this paper is to analyze whether companies with a greater commitment to corporate social responsibility (SRI companies) perform differently on the stock market compared to companies that disregard SRI. Over recent years, this relationship has been taken up at both a theoretical and practical level, and has led to extensive scientific research of an empirical nature involving the examination of the relationships existing between the financial and social, environmental and corporate governance performance of a company and the relationship between SRI and investment decisions in the financial market. More specifically, this work provides empirical evidence for the Spanish market as to whether or not belonging to a group of companies the market classes as sustainable results in return premiums that set them apart from companies classed as conventional, and finds no differences in the stock market performance of companies considered to be SRI or conventional.

Is stock market volatility persistent? A fractionally integrated approach

This paper seeks to study the persistence in the G7’s stock market volatility, which is carried out using the GARCH, IGARCH and FIGARCH models. The data set consists of the daily returns of the S&P/TSX 60, CAC 40, DAX 30, MIB 30, NIKKEI 225, FTSE 100 and S&P 500 indexes over the period 1999-2009. The results evidences long memory in volatility, which is more pronounced in Germany, Italy and France. On the other hand, Japan appears as the country where this phenomenon is less obvious; nevertheless, the persistence prevails but with minor intensity.

What drives corporate default risk premia? Evidence from the CDS market

This paper studies the evolution of the default risk premia for European firms during the years surrounding the recent credit crisis. We employ the information embedded in Credit Default Swaps (CDS) and Moody’s KMV EDF default probabilities to analyze the common factors driving this risk premia. The risk premium is characterized in several directions: Firstly, we perform a panel data analysis to capture the relationship between CDS spreads and actual default probabilities. Secondly, we employ the intensity framework of Jarrow et al. (2005) in order to measure the theoretical effect of risk premium on expected bond returns. Thirdly, we carry out a dynamic panel data to identify the macroeconomic sources of risk premium. Finally, a vector autoregressive model analyzes which proportion of the co-movement is attributable to financial or macro variables. Our estimations report coefficients for risk premium substantially higher than previously referred for US firms and a time varying behavior. A dominant factor explains around 60% of the common movements in risk premia. Additionally, empirical evidence suggests a public-to-private risk transfer between the sovereign CDS spreads and corporate risk premia.

Evidence of portuguese stock market abnormal returns

According to the stock market efficiency theory, it is not possible to consistently beat the market. However, technical analysis is more and more spread as an efficient way to achieve abnormal returns. In fact there is evidence that momentum investing strategies provide abnormal returns in different stock markets, Jegadeesh, N. and Titman, S. (1993), George, T. and Hwang, C. (2004) and Du, D. (2009). In this work we study if like other markets, the Portuguese stock market also allows to obtain abnormal returns, using a strategy that consists in picking stocks according to their past performance. Our work confirms the results of Soares, J. and Serra, A. (2005) and Pereira, P. (2009), showing that an investor can get abnormal returns investing in momentum portfolios. The Portuguese stock market evidences momentum returns in short term, exhibiting reversal in long term.

Industry concentration and market volatility

In this paper our aim is to gain a better understanding of the relationship between market volatility and industrial structure. As conflicting results have been documented regarding the relationship between market industry concentration and market volatility, this study investigates this relationship in the time series. We have found that this relationship is only significant and positive for Spain. Our results suggest that we cannot generalize across different countries that market industrial structure (concentration) is a significant factor in explaining market volatility.

The role of an illiquidity factor in the Portuguese stock market

This study examines the role of illiquidity (proxied by the proportion of zero returns) as an additional risk factor in asset pricing. We use Portuguese monthly data, covering the period between January 1988 and December 2008. We compute an illiquidity factor using the Fama and French [Fama, E. F., and K. R. French (1993), "Common risk factors in the returns on stocks and bonds", Journal of Financial Economics, Vol. 33, Nº. 1, pp. 3-56] procedure and analyze the performance of CAPM, Fama-French three-factor model and illiquidity-augmented versions of these models in explaining both the time-series and the cross-section of returns. Our results reveal that the effect of characteristic liquidity is subsumed by the models considered, but the risk of illiquidity is not priced in the Portuguese stock market.

Intervenções em estruturas antigas

O presente relatório de estágio, definido como Trabalho Final de Mestrado, surge como resultado de um estágio profissional realizado no âmbito do Mestrado em Engenharia Civil do Instituto Superior de Engenharia de Lisboa, e tem como objectivos primordiais, expor as actividades realizadas e reflectir os conhecimentos adquiridos durante o período de estágio. Após uma formação académica maioritariamente vocacionada para os aspectos teóricos e de natureza científica, tornou-se fundamental ao estagiário garantir um contacto real com a profissão de Engenheiro Civil antes do ingresso no mercado de trabalho. Foi com base nesse pressuposto que a opção do Trabalho Final de Mestrado incidiu sobre a realização de um estágio curricular em detrimento das restantes possibilidades. O período de estágio iniciou-se a 14 de Março de 2011 e incidiu sobre a área de Conservação, Restauro e Reabilitação de edifícios com valor patrimonial, sendo feito referência no capítulo 2 aos princípios importantes da intervenção neste tipo de edifícios. O capítulo 3 faz uma abordagem geral do que são as coberturas servindo de complemento ao capítulo 4, onde são abordados e analisados os processos e métodos construtivos envolvidos, contemplando a evolução construtiva da cobertura do Cruzeiro, no Convento de Cristo em Tomar. Nos restantes capítulos, 5 e 6, é feita a caracterização e constituição da estrutura de um edifício da segunda metade do século XVIII, e a análise estrutural feita ao edifício no Antigo Convento do Santíssimo Sacramento, em Lisboa, respectivamente. O capítulo 4 é complementado pelo Anexo A, sendo utilizado como referência ao esquema da estrutura artesanal encontrada na cobertura do Cruzeiro.

Environmental sustainability in superior education: case study of Lisbon College of Health Technology

Over the centuries there has been a growing trend of societies and it is possible to verify their economic growth. This growth has provided an increased pressure on natural resources, often over-reaching the boundaries of each country, which has called into question the level of environmental sustainability in different countries. Sustainability is understood as a complex concept involving ecological, social, economic dimensions and temporal urban processes. Therefore, Firmino (2009) suggests that the ecological footprint (EF) allows people to establish dependency relations between human activities and the natural resources required for such activities and for the absorption of waste generated. According to Bergh & Verbruggen (1999) the EF is an objective, impartial and one-dimensional indicator that enables people to assess the sustainability. The Superior Schools have a crucial role in building the vision of a sustainable future as a reality, because in transmitting values and environmental principles to his students, are providing that they, in exercising his professional activity, make decisions weighing the environmental values. This ensures improved quality of life. The present study aims to determine the level of environmental sustainability of the Academic Community of Lisbon College of Health Technology (ESTeSL), by calculating the EF, and describe whether a relation between Footprint and various socio-demographic characteristics of the subjects.

Short-term electricity prices forecasting in a competitive market by a hybrid PSO-ANFIS approach

In this paper, a novel hybrid approach is proposed for electricity prices forecasting in a competitive market, considering a time horizon of 1 week. The proposed approach is based on the combination of particle swarm optimization and adaptive-network based fuzzy inference system. Results from a case study based on the electricity market of mainland Spain are presented. A thorough comparison is carried out, taking into account the results of previous publications, to demonstrate its effectiveness regarding forecasting accuracy and computation time. Finally, conclusions are duly drawn. (C) 2012 Elsevier Ltd. All rights reserved.

A risk-averse optimization model for trading wind energy in a market environment under uncertainty

In this paper, a stochastic programming approach is proposed for trading wind energy in a market environment under uncertainty. Uncertainty in the energy market prices is the main cause of high volatility of profits achieved by power producers. The volatile and intermittent nature of wind energy represents another source of uncertainty. Hence, each uncertain parameter is modeled by scenarios, where each scenario represents a plausible realization of the uncertain parameters with an associated occurrence probability. Also, an appropriate risk measurement is considered. The proposed approach is applied on a realistic case study, based on a wind farm in Portugal. Finally, conclusions are duly drawn. (C) 2011 Elsevier Ltd. All rights reserved.

Short-term electricity prices forecasting in a competitive market by a hybrid intelligent approach

In this paper, a hybrid intelligent approach is proposed for short-term electricity prices forecasting in a competitive market. The proposed approach is based on the wavelet transform and a hybrid of neural networks and fuzzy logic. Results from a case study based on the electricity market of mainland Spain are presented. A thorough comparison is carried out, taking into account the results of previous publications. Conclusions are duly drawn. (C) 2010 Elsevier Ltd. All rights reserved.

Radiographers and radiation protection: education, training and CPD

The increasing use of ionizing radiation for medical purposes emphasizes the concern about safety and justification of using ionizing radiation. This is linked with the use of new and high-dose X-ray technology (particularly CT). According to the UNSCEAR 2010 Report the total number of diagnostic medical examinations (both medical and dental) is estimated to have risen from 2.4 billion (period 1991–1996) to 3.6 billion (period 1997– 2008) - a marked increase in collective doses. An appropriate use of technology aiming diagnostic or therapy and respecting the ALARA principle is a mandatory requisite to safely perform any radiological procedure. Radiation protection is thus, a concern of all specialists in the radiology field ( radiologists, radiographers, medical physicists, among other professional groups). The importance of education and training of these professionals in reducing patients’ doses while maintaining the desired level of quality in medical exposures, as well as precise therapeutic treatments is well recognized. Education, training and continuing professional development (CPD) constitute a triad pointing towards the radiographers’ development of competences in the radiation protection field. This presentation excludes the radiographer role and competences in the fields of ultrasonography and MRI.

On the development of textual competence in primary education

The aim of this article is to present the results of an action research project, which has been put into practice in Primary Education. This project was intended to develop students’ textual competence, considering both comprehension and textual production. Our starting hypothesis was that teaching the schematisation of text types, focusing on linguistic devices that underlie text production, would promote the development of textual competence, leading to the production of more coherent and cohesive texts. In order to test this hypothesis we implemented the project in three phases. First, before the intervention, we collected texts produced by the students. Secondly, we implemented a didactic program designed to develop students’ textual competence. Lastly, after the intervention, we collected students’ texts once again. Data was analyzed according to categories that confer cohesion and coherence to different types of texts. Narrative, descriptive, and explanatory texts were assessed in terms of 1) building an autonomous text; 2) hierarchisation of information, and 3) textual organisation. Overall, results indicate that students developed their text conceptualisations, their understanding of the different structures of texts, and produced better writing. Indeed, their written work shows a marked progression from the beginning of the intervention program to the end of the program.