As bases de mensuração aplicáveis às propriedades de investimento e o risco de auditorias - O caso dos principais investidores na área dos centros comerciais

Mestrado em Auditoria

The Sticky Information Macro Model: Beyond Perfect Foresight

Sticky information monetary models have been used in the macroeconomic literature to explain some of the observed features regarding inflation dynamics. In this paper, we explore the consequences of relaxing the rational expectations assumption usually taken in this type of model; in particular, by considering expectations formed through adaptive learning, it is possible to arrive to results other than the trivial convergence to a fixed point long-term equilibrium. The results involve the possibility of endogenous cyclical motion (periodic and a-periodic), which emerges essentially in scenarios of hyperinflation. In low inflation settings, the introduction of learning implies a less severe impact of monetary shocks that, nevertheless, tend to last for additional time periods relative to the pure perfect foresight setup.

Compression Efficiency Analysis of Wyner-Ziv Video Coding with Motion Compensated Side Information Interpolation

The Wyner-Ziv video coding (WZVC) rate distortion performance is highly dependent on the quality of the side information, an estimation of the original frame, created at the decoder. This paper, characterizes the WZVC efficiency when motion compensated frame interpolation (MCFI) techniques are used to generate the side information, a difficult problem in WZVC especially because the decoder only has available some reference decoded frames. The proposed WZVC compression efficiency rate model relates the power spectral of the estimation error to the accuracy of the MCFI motion field. Then, some interesting conclusions may be derived related to the impact of the motion field smoothness and the correlation to the true motion trajectories on the compression performance.

A flexible side information generation framework for distributed video coding

One of the most efficient approaches to generate the side information (SI) in distributed video codecs is through motion compensated frame interpolation where the current frame is estimated based on past and future reference frames. However, this approach leads to significant spatial and temporal variations in the correlation noise between the source at the encoder and the SI at the decoder. In such scenario, it would be useful to design an architecture where the SI can be more robustly generated at the block level, avoiding the creation of SI frame regions with lower correlation, largely responsible for some coding efficiency losses. In this paper, a flexible framework to generate SI at the block level in two modes is presented: while the first mode corresponds to a motion compensated interpolation (MCI) technique, the second mode corresponds to a motion compensated quality enhancement (MCQE) technique where a low quality Intra block sent by the encoder is used to generate the SI by doing motion estimation with the help of the reference frames. The novel MCQE mode can be overall advantageous from the rate-distortion point of view, even if some rate has to be invested in the low quality Intra coding blocks, for blocks where the MCI produces SI with lower correlation. The overall solution is evaluated in terms of RD performance with improvements up to 2 dB, especially for high motion video sequences and long Group of Pictures (GOP) sizes.

Advanced side information creation techniques and framework for Wyner-Ziv video coding

Recently, several distributed video coding (DVC) solutions based on the distributed source coding (DSC) paradigm have appeared in the literature. Wyner-Ziv (WZ) video coding, a particular case of DVC where side information is made available at the decoder, enable to achieve a flexible distribution of the computational complexity between the encoder and decoder, promising to fulfill novel requirements from applications such as video surveillance, sensor networks and mobile camera phones. The quality of the side information at the decoder has a critical role in determining the WZ video coding rate-distortion (RD) performance, notably to raise it to a level as close as possible to the RD performance of standard predictive video coding schemes. Towards this target, efficient motion search algorithms for powerful frame interpolation are much needed at the decoder. In this paper, the RD performance of a Wyner-Ziv video codec is improved by using novel, advanced motion compensated frame interpolation techniques to generate the side information. The development of these type of side information estimators is a difficult problem in WZ video coding, especially because the decoder only has available some reference, decoded frames. Based on the regularization of the motion field, novel side information creation techniques are proposed in this paper along with a new frame interpolation framework able to generate higher quality side information at the decoder. To illustrate the RD performance improvements, this novel side information creation framework has been integrated in a transform domain turbo coding based Wyner-Ziv video codec. Experimental results show that the novel side information creation solution leads to better RD performance than available state-of-the-art side information estimators, with improvements up to 2 dB: moreover, it allows outperforming H.264/AVC Intra by up to 3 dB with a lower encoding complexity.

Caracterização da amostra portuguesa da área da saúde na Web of Science

Introdução: A produção e o uso da literatura científica são analisados, quantificados e interpretados pela bibliometria, ciência utilizada para estudos métricos da informação publicada e que estuda as questões relacionadas com a comunicação científica e a atividade científica. Objetivo: O estudo apresentado é uma análise bibliométrica da produção científica portuguesa da área da saúde indexada na Web of Science. Métodos: Analisa-se a produção referente ao período entre 1992 e final de 2011. A análise da produção científica centrou-se nas seguintes variáveis: categorias de classificação da Web of Science, tipologia de documentos indexados, títulos de revistas, distribuição por anos de publicação, afiliação institucional, idiomas, países de origem dos autores com quem foram estabelecidas relações de parceria científica e quem facultou os financiamentos à investigação científica. Resultados: Foram contabilizados 34.208 trabalhos. Destes, o artigo é a forma mais utilizada pelos autores portugueses para a divulgação dos resultados de investigação (58,5%). A década mais recente é contemplada com 75,4% dos registos. A maioria da produção com visibilidade internacional é oriunda de universidades e de centros de investigação hospitalar; institutos, laboratórios da indústria farmacêutica e universidades estrangeiras têm valores residuais. A colaboração com outros investigadores internacionais destaca-se no caso da Europa (73,2%). O financiamento da investigação científica é suportado basicamente pela Fundação para a Ciência e Tecnologia (59,5%), seguida da Comissão Europeia (17,8%). O inglês é o idioma mais usado para a divulgação dos resultados de investigação nacional na área da saúde (97,8%). Conclusões: O uso de bases de dados ou de plataformas científicas para estudos bibliométricos é um processo moroso e difícil. O total de trabalhos em análise foi sempre o mesmo mas, em algumas variáveis, os valores não coincidem, quer porque alguns dos registos foram classificados em mais do que uma categoria temática, quer pelos trabalhos multidisciplinares oriundos das mesmas instituições, quer pelos trabalhos de colaboração internacional. Também no presente estudo os artigos são o veículo privilegiado para a divulgação dos resultados científicos. Apontamento final: deve encorajar-se a utilização de outras plataformas científicas e de outras bases de dados para uma mais completa recuperação da produção científica nacional na área da saúde. Introduction: The production and the use of the scientific literature are analyzed, quantified and interpreted by bibliometry. Bibliometry is the science used in published information metric studies and studies the questions of scientific communication and the scientific production. Aim of the study: This study presents a bibliometric analysis of the indexed Web of Science Portuguese scientific production in the health field. Methods: We analyzed the production from 1992 to the end of 2011. This analysis focused in several variables: general categories areas of Web of Science, indexed document types, source titles, publication years, group/corporate authors, languages, identification of the countries with scientific partnerships and identification of the funding agencies for scientific research. Results: We found 34.208 works. From this, the article is the most common channel for disseminating the research results (58.5%). The most recent decade has 75.4% of the total of records. Most of the production with international visibility becomes from universities and hospital research centers; institutes, pharmaceutical labs or foreign universities have residual values. Collaborating with other international researchers is very common, particularly with Europe (73.2%). In general, the Fundação para a Ciência e Tecnologia supports the scientific research (59.5%), followed by the European Commission (17.8%). The language commonly used for disseminating the research results in health is the English (97.8%). Conclusions: Using databases or scientific platforms for bibliometric studies is a hard and difficult process. The total of works analyzed was always the same but, with some variables, the numbers does not coincide: a) some of the registries were classified in several categories; b) some of the multidisciplinary works were from the same institution; c) the large number of international partnership. In this study, articles are the privileged way for disseminating the scientific results. A last thought: the use of other scientific platforms and databases should be encouraged for a more complete retrieval of the national research production in health.

Information and investor behavior surrounding earnings announcements

Preliminary version

Individual pension information: Recommendations for the case of Spain based on the experiences of other countries

The aim of this paper is to establish some basic guidelines to help draft the information letter sent to individual contributors should it be decided to use this model in the Spanish public pension system. With this end in mind and basing our work on the experiences of the most advanced countries in the field and the pioneering papers by Jackson (2005), Larsson et al. (2008) and Sunden (2009), we look into the concept of “individual pension information” and identify its most relevant characteristics. We then give a detailed description of two models, those in the United States and Sweden, and in particular look at how they are structured, what aspects could be improved and what their limitations are. Finally we make some recommendations of special interest for designing the model for Spain.

Caracterização da amostra portuguesa da área da saúde na Web of Science

Introdução: A produção e o uso da literatura científica são analisados, quantificados e interpretados pela bibliometria, ciência utilizada para estudos métricos da informação publicada e que estuda as questões relacionadas com a comunicação científica e a atividade científica. Objetivo: O estudo apresentado é uma análise bibliométrica da produção científica portuguesa da área da saúde indexada na Web of Science. Métodos: Analisa-se a produção referente ao período entre 1992 e final de 2011. A análise da produção científica centrou-se nas seguintes variáveis: categorias de classificação da Web of Science, tipologia de documentos indexados, títulos de revistas, distribuição por anos de publicação, afiliação institucional, idiomas, países de origem dos autores com quem foram estabelecidas relações de parceria científica e quem facultou os financiamentos à investigação científica. Resultados: Foram contabilizados 34.208 trabalhos. Destes, o artigo é a forma mais utilizada pelos autores portugueses para a divulgação dos resultados de investigação (58,5%). A década mais recente é contemplada com 75,4% dos registos. A maioria da produção com visibilidade internacional é oriunda de universidades e de centros de investigação hospitalar; institutos, laboratórios da indústria farmacêutica e universidades estrangeiras têm valores residuais. A colaboração com outros investigadores internacionais destaca-se no caso da Europa (73,2%). O financiamento da investigação científica é suportado basicamente pela Fundação para a Ciência e Tecnologia (59,5%), seguida da Comissão Europeia (17,8%). O inglês é o idioma mais usado para a divulgação dos resultados de investigação nacional na área da saúde (97,8%). Conclusões: O uso de bases de dados ou de plataformas científicas para estudos bibliométricos é um processo moroso e difícil. O total de trabalhos em análise foi sempre o mesmo mas, em algumas variáveis, os valores não coincidem, quer porque alguns dos registos foram classificados em mais do que uma categoria temática, quer pelos trabalhos multidisciplinares oriundos das mesmas instituições, quer pelos trabalhos de colaboração internacional. Também no presente estudo os artigos são o veículo privilegiado para a divulgação dos resultados científicos. Apontamento final: deve encorajar-se a utilização de outras plataformas científicas e de outras bases de dados para uma mais completa recuperação da produção científica nacional na área da saúde. Introduction: The production and the use of the scientific literature are analyzed, quantified and interpreted by bibliometry. Bibliometry is the science used in published information metric studies and studies the questions of scientific communication and the scientific production. Aim of the study: This study presents a bibliometric analysis of the indexed Web of Science Portuguese scientific production in the health field. Methods: We analyzed the production from 1992 to the end of 2011. This analysis focused in several variables: general categories areas of Web of Science, indexed document types, source titles, publication years, group/corporate authors, languages, identification of the countries with scientific partnerships and identification of the funding agencies for scientific research. Results: We found 34.208 works. From this, the article is the most common channel for disseminating the research results (58.5%). The most recent decade has 75.4% of the total of records. Most of the production with international visibility becomes from universities and hospital research centers; institutes, pharmaceutical labs or foreign universities have residual values. Collaborating with other international researchers is very common, particularly with Europe (73.2%). In general, the Fundação para a Ciência e Tecnologia supports the scientific research (59.5%), followed by the European Commission (17.8%). The language commonly used for disseminating the research results in health is the English (97.8%). Conclusions: Using databases or scientific platforms for bibliometric studies is a hard and difficult process. The total of works analyzed was always the same but, with some variables, the numbers does not coincide: a) some of the registries were classified in several categories; b) some of the multidisciplinary works were from the same institution; c) the large number of international partnership. In this study, articles are the privileged way for disseminating the scientific results. A last thought: the use of other scientific platforms and databases should be encouraged for a more complete retrieval of the national research production in health.

Augmented LDPC Graph for Distributed Video Coding with Multiple Side Information

The advances made in channel-capacity codes, such as turbo codes and low-density parity-check (LDPC) codes, have played a major role in the emerging distributed source coding paradigm. LDPC codes can be easily adapted to new source coding strategies due to their natural representation as bipartite graphs and the use of quasi-optimal decoding algorithms, such as belief propagation. This paper tackles a relevant scenario in distributedvideo coding: lossy source coding when multiple side information (SI) hypotheses are available at the decoder, each one correlated with the source according to different correlation noise channels. Thus, it is proposed to exploit multiple SI hypotheses through an efficient joint decoding technique withmultiple LDPC syndrome decoders that exchange information to obtain coding efficiency improvements. At the decoder side, the multiple SI hypotheses are created with motion compensated frame interpolation and fused together in a novel iterative LDPC based Slepian-Wolf decoding algorithm. With the creation of multiple SI hypotheses and the proposed decoding algorithm, bitrate savings up to 8.0% are obtained for similar decoded quality.

Materialidade em auditoria: o problema da sua aplicação prática

A ocorrência de grandes escândalos financeiros na última década, um pouco por todo o mundo, provocou uma crise de confiança na informação financeira prestada pelas empresas e levou à discussão de conceitos como Corporate Governance e Expectation Gap e a uma “revolução” no mundo da auditoria. A necessidade de confiança na opinião dos auditores conduziu à discussão acerca de como é que o trabalho de auditoria é realizado, em que “bases” é que o auditor determina o que analisar e, por último, como decide o que é material ou não. Esta discussão traz a si associado o conceito de materialidade. O objectivo deste estudo é compreender os aspectos inerentes à determinação da materialidade e a sua importância, tanto no planeamento como na avaliação de resultados. O presente trabalho está estruturado em sete capítulos, correspondendo os cinco primeiros ao enquadramento teórico do tema, realizado através de revisão de literatura. No sexto capítulo explicita-se a investigação empírica realizada sobre a forma como a materialidade é entendida e utilizada pelas Sociedades de Revisores Oficiais de Contas (SROC) em Portugal. Terminamos com a conclusão do estudo, em que, para além das conclusões obtidas, se indicam os problemas e obstáculos encontrados ao longo do mesmo, bem como possibilidades de investigação futura.

Side information creation for efficient Wyner-Ziv video coding: Classifying and reviewing

Video coding technologies have played a major role in the explosion of large market digital video applications and services. In this context, the very popular MPEG-x and H-26x video coding standards adopted a predictive coding paradigm, where complex encoders exploit the data redundancy and irrelevancy to 'control' much simpler decoders. This codec paradigm fits well applications and services such as digital television and video storage where the decoder complexity is critical, but does not match well the requirements of emerging applications such as visual sensor networks where the encoder complexity is more critical. The Slepian Wolf and Wyner-Ziv theorems brought the possibility to develop the so-called Wyner-Ziv video codecs, following a different coding paradigm where it is the task of the decoder, and not anymore of the encoder, to (fully or partly) exploit the video redundancy. Theoretically, Wyner-Ziv video coding does not incur in any compression performance penalty regarding the more traditional predictive coding paradigm (at least for certain conditions). In the context of Wyner-Ziv video codecs, the so-called side information, which is a decoder estimate of the original frame to code, plays a critical role in the overall compression performance. For this reason, much research effort has been invested in the past decade to develop increasingly more efficient side information creation methods. This paper has the main objective to review and evaluate the available side information methods after proposing a classification taxonomy to guide this review, allowing to achieve more solid conclusions and better identify the next relevant research challenges. After classifying the side information creation methods into four classes, notably guess, try, hint and learn, the review of the most important techniques in each class and the evaluation of some of them leads to the important conclusion that the side information creation methods provide better rate-distortion (RD) performance depending on the amount of temporal correlation in each video sequence. It became also clear that the best available Wyner-Ziv video coding solutions are almost systematically based on the learn approach. The best solutions are already able to systematically outperform the H.264/AVC Intra, and also the H.264/AVC zero-motion standard solutions for specific types of content. (C) 2013 Elsevier B.V. All rights reserved.

A denoising approach for iterative side information creation in distributed video coding

In distributed video coding, motion estimation is typically performed at the decoder to generate the side information, increasing the decoder complexity while providing low complexity encoding in comparison with predictive video coding. Motion estimation can be performed once to create the side information or several times to refine the side information quality along the decoding process. In this paper, motion estimation is performed at the decoder side to generate multiple side information hypotheses which are adaptively and dynamically combined, whenever additional decoded information is available. The proposed iterative side information creation algorithm is inspired in video denoising filters and requires some statistics of the virtual channel between each side information hypothesis and the original data. With the proposed denoising algorithm for side information creation, a RD performance gain up to 1.2 dB is obtained for the same bitrate.

Water quality issues in rivers, lakes and reservoirs in Asian countries: an approach to the problems and the methodologies

Water covers over 70% of the Earth's surface, and is vital for all known forms of life. But only 3% of the Earth's water is fresh water, and less than 0.3% of all freshwater is in rivers, lakes, reservoirs and the atmosphere. However, rivers and lakes are an important part of fresh surface water, amounting to about 89%. In this Master Thesis dissertation, the focus is on three types of water bodies – rivers, lakes and reservoirs, and their water quality issues in Asian countries. The surface water quality in a region is largely determined both by the natural processes such as climate or geographic conditions, and the anthropogenic influences such as industrial and agricultural activities or land use conversion. The quality of the water can be affected by pollutants discharge from a specific point through a sewer pipe and also by extensive drainage from agriculture/urban areas and within basin. Hence, water pollutant sources can be divided into two categories: Point source pollution and Non-point source (NPS) pollution. Seasonal variations in precipitation and surface run-off have a strong effect on river discharge and the concentration of pollutants in water bodies. For example, in the rainy season, heavy and persistent rain wash off the ground, the runoff flow increases and may contain various kinds of pollutants and, eventually, enters the water bodies. In some cases, especially in confined water bodies, the quality may be positive related with rainfall in the wet season, because this confined type of fresh water systems allows high dilution of pollutants, decreasing their possible impacts. During the dry season, the quality of water is largely related to industrialization and urbanization pollution. The aim of this study is to identify the most common water quality problems in Asian countries and to enumerate and analyze the methodologies used for assessment of water quality conditions of both rivers and confined water bodies (lakes and reservoirs). Based on the evaluation of a sample of 57 papers, dated between 2000 and 2012, it was found that over the past decade, the water quality of rivers, lakes, and reservoirs in developing countries is being degraded. Water pollution and destruction of aquatic ecosystems have caused massive damage to the functions and integrity of water resources. The most widespread NPS in Asian countries and those which have the greatest spatial impacts are urban runoff and agriculture. Locally, mine waste runoff and rice paddy are serious NPS problems. The most relevant point pollution sources are the effluents from factories, sewage treatment plant, and public or household facilities. It was found that the most used methodology was unquestionably the monitoring activity, used in 49 of analyzed studies, accounting for 86%. Sometimes, data from historical databases were used as well. It can be seen that taking samples from the water body and then carry on laboratory work (chemical analyses) is important because it can give an understanding of the water quality. 6 papers (11%) used a method that combined monitoring data and modeling. 6 papers (11%) just applied a model to estimate the quality of water. Modeling is a useful resource when there is limited budget since some models are of free download and use. In particular, several of used models come from the U.S.A, but they have their own purposes and features, meaning that a careful application of the models to other countries and a critical discussion of the results are crucial. 5 papers (9%) focus on a method combining monitoring data and statistical analysis. When there is a huge data matrix, the researchers need an efficient way of interpretation of the information which is provided by statistics. 3 papers (5%) used a method combining monitoring data, statistical analysis and modeling. These different methods are all valuable to evaluate the water quality. It was also found that the evaluation of water quality was made as well by using other types of sampling different than water itself, and they also provide useful information to understand the condition of the water body. These additional monitoring activities are: Air sampling, sediment sampling, phytoplankton sampling and aquatic animal tissues sampling. Despite considerable progress in developing and applying control regulations to point and NPS pollution, the pollution status of rivers, lakes, and reservoirs in Asian countries is not improving. In fact, this reflects the slow pace of investment in new infrastructure for pollution control and growing population pressures. Water laws or regulations and public involvement in enforcement can play a constructive and indispensable role in environmental protection. In the near future, in order to protect water from further contamination, rapid action is highly needed to control the various kinds of effluents in one region. Environmental remediation and treatment of industrial effluent and municipal wastewaters is essential. It is also important to prevent the direct input of agricultural and mine site runoff. Finally, stricter environmental regulation for water quality is required to support protection and management strategies. It would have been possible to get further information based in the 57 sample of papers. For instance, it would have been interesting to compare the level of concentrations of some pollutants in the diferente Asian countries. However the limit of three months duration for this study prevented further work to take place. In spite of this, the study objectives were achieved: the work provided an overview of the most relevant water quality problems in rivers, lakes and reservoirs in Asian countries, and also listed and analyzed the most common methodologies.

Projecto dum laboratório remoto para automação de processos industriais

Trabalho Final de Mestrado para obtenção do grau de Mestre em Engenharia Mecânica