XII Iberian-Italian Congress of Financial and Actuarial Mathematics

"The purpose of the XII Iberian-Italian Congress of Financial and Actuarial Mathematics is to provide a meeting point for researchers in Financial Economics from different countries and research backgrounds in universities, government or financial institutions. In fact, the Congress which is currently taking place in Lisbon has been organized to encourage communication and debate among the participants as well as to reinforce the bonds between us.The current edition of the Congress is characterized by the quality and diversity of the papers that have been submitted with special attention to the International Financial Crisis and measures of risk in different financial markets. However, as the Congress Program indicates, there are also parallel sessions about traditional topics in finance such as asset pricing, insurance, corporate finance, etc.Although this Congress has always been organized alternately between Spain and Italy, this year we have the great pleasure of celebrating it in Portugal which will be included as a permanent partner." [prefácio]

Educational policies, territories and actors strategies

The purpose of this paper is to analyse how educational policies about school violence are reinterpreted and implemented at school level and if this process contributes to a more pluralistic and democratic school. A research carried out in 3 clusters of schools showed that the diversity of understandings and strategies to face school violence, higher within the territories than between them, was associated to the school board's agendas and the legitimacy of the different actors to interpret and act within the national policies framework. There was a high consistency between violence management strategies and the ways schools faced social and cultural diversity. Those who favour more inclusive strategies to deal with violence tend to provide higher educational opportunities in schools, inversely, those who favour repressive strategies are more likely to support educational and social selective strategies, with less educational offer; less participation of teachers, students and parents in violence regulation.

Long-run consumption risk with durable goods : UK evidence for equity and bond markets

"It is a widely accepted fact that the consumption-based capital asset pricing model (CCAPM) fails to provide a good explanation of many important features of the behaviour of financial market returns in a large range of countries over a long period of time. However, within a representative consumer/investor model, it is hard to see how the basic structure of the consumption based model can be safely abandoned." [introdução]