O valor das empresas dos PIIGS no período de 2000 a 2010 : o impacto da crise financeira de 2007

O valor das empresas é fundamental para o cálculo do preço das suas acções e desta forma permitir aos investidores e accionistas determinar onde aplicar o seu dinheiro. Em última análise, podemos também dizer que o valor de um país é determinado pelo valor da riqueza que consegue produzir, e para essa riqueza, em muito contribuem as empresas e a criação de valor por parte destas. É também necessário realçar o papel fundamental que um gestor financeiro desempenha na criação de valor para as empresas, e nessa medida, é imprescindível que este seja dotado do conhecimento dos modelos de avaliação financeira, pois só assim poderá maximizar o valor desta através dos investimentos que irá efectuar. Nos últimos anos, em especial após 2007 com a crise financeira desencadeada nos Estados Unidos e que rapidamente se alastrou à Europa e restantes continentes, muitas foram as alterações verificadas nas empresas por todo o globo. Assim, pretende-se avaliar o impacto desta crise nas empresas, com especial enfoque nas empresas portuguesas, italianas, irlandesas, gregas e espanholas através da análise do Q de Tobin de cada uma delas no período de 2000 a 2010.

The organ verses of Frei Jerónimo da Madre de Deus: Portuguese organ music in the time of D. João V

Contrastando com o importante legado dos mestres organistas portugueses dos séculos XVI e XVII, a música portuguesa para órgão pós-1700 parece quase inexistente (excluindo raros exemplos, como as quatro sonatas para órgão de Carlos Seixas). Seja devido à destruição causada pelo grande terramoto de Lisboa em 1755, ou a outras causas, a ausência de fontes é surpreendente, considerando os testemunhos de actividade musical durante aquele período. Este artigo lida com uma fonte até hoje relativamente ignorada: o manuscrito CLI/1-4 nº 7 da Biblioteca do Palácio Ducal de Vila Viçosa (Versos / Sobre o Canto Chão / Para Orgão / De Fr. Jeronimo da M.dre de DS.). Esta colecção de vinte versos para órgão de Jerónimo da Madre de Deus é, de longe, a maior obra portuguesa para órgão da primeira metade do século XVIII até hoje conhecida. Claramente pensadas para o órgão, estas curtas peças testemunham a transformação da escrita para tecla em Portugal durante o reinado de D. João V (nomeadamente através da absorção de influências italianas) e fornecem informações preciosas sobre o tipo de instrumento em que eram tocadas.

A sátira política na televisão: O caso do "Governo Sombra"

Dissertação apresentada à Escola Superior de Comunicação Social como parte dos requisitos para obtenção de grau de mestre em Jornalismo.

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]

Comparison of fungal contamination between hospitals and companies food units

A descriptive study was developed to compare air and surfaces fungal contamination in ten hospitals’ food units and two food units from companies. Fifty air samples of 250 litres through impaction method were collected from hospitals’ food units and 41 swab samples from surfaces were also collected, using a 10 by 10 cm square stencil. Regarding the two companies, ten air samples and eight surface samples were collected. Air and surface samples were collected in food storage facilities, kitchen, food plating and canteen. Outdoor air was also collected since this is the place regarded as a reference. Simultaneously, temperature, relative humidity and meal numbers were registered. Concerning air from hospitals’ food units, 32 fungal species were identified, being the two most commonly isolated genera Penicillium sp.

Comparison of indoor and outdoor fungi and particles in poultry units

A descriptive study was developed in order to compare indoor and outdoor air contamination caused by fungi and particles in seven poultry units. Twenty eight air samples of 25 litters were collected through the impaction method on malt extract agar. Air sampling and particles concentration measurement were done in the interior and also outside premises of the poultries’ pavilions. Regarding the fungal load in the air, indoor concentration of mold was higher than outside air in six poultry units. Twenty eight species / genera of fungi were identified indoor, being Scopulariopsis brevicaulis (40.5%) the most commonly isolated species and Rhizopus sp. (30.0%) the most commonly isolated genus. Concerning outdoor, eighteen species/genera of fungi were isolated, being Scopulariopsis brevicaulis (62.6%) also the most isolated. All the poultry farms analyzed presented indoor fungi different from the ones identified outdoors. Regarding particles’ contamination, PM2.5, PM5.0 and PM10 had a statistically significant difference (Mann-Whitney U test) between the inside and outside of the pavilions, with the inside more contaminated (p=.006; p=.005; p=.005, respectively). The analyzed poultry units are potential reservoirs of substantial amounts of fungi and particles and could therefore free them in the atmospheric air. The developed study showed that indoor air was more contaminated than outdoors, and this can result in emission of potentially pathogenic fungi and particles via aerosols from poultry units to the environment, which may post a considerable risk to public health and contribute to environmental pollution.

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.

Environmental impact caused by fungal and particle contamination of Portuguese swine

Social concerns for environmental impact on air, water and soil pollution have grown along with the accelerated growth of pig production. This study intends to characterize air contamination caused by fungi and particles in swine production, and, additionally, to conclude about their eventual environmental impact. Fiftysix air samples of 50 litters were collected through impaction method. Air sampling and particle matter concentration were performed in indoor and also outdoor premises. Simultaneously, temperature and relative humidity were monitored according to the International Standard ISO 7726 – 1998. Aspergillus versicolor presents the highest indoor spore counts (>2000 CFU/m3) and the highest overall prevalence (40.5%), followed by Scopulariopsis brevicaulis (17.0%) and Penicillium sp. (14.1%). All the swine farms showed indoor fungal species different from the ones identified outdoors and the most frequent genera were also different from the ones indoors. The distribution of particle size showed the same tendency in all swine farms (higher concentration values in PM5 and PM10 sizes). Through the ratio between the indoor and outdoor values, it was possible to conclude that CFU/m3 and particles presented an eventual impact in outdoor measurements.

Potential poultry and meat products contamination by aflatoxin B1 due to fungal presence in Portuguese poultry units

The impact of mycotoxins on human and animal health is well recognized. Aflatoxin B1 (AFB1) is by far the most prevalent and the most potent natural carcinogen and is usually the major aflatoxin produced by toxigenic fungal strains. Data available, points to an increasing frequency of poultry feed contamination by aflatoxins. Since aflatoxin residues may accumulate in body tissues, this represents a high risk to human health. Samples from commercial poultry birds have already presented detectable levels of aflatoxin in liver. A descriptive study was developed in order to assess fungal contamination by species from Aspergillus flavus complex in seven Portuguese poultry units. Air fungal contamination was studied by conventional and molecular methods. Air, litter and surfaces samples were collected. To apply molecular methods, air samples of 300L were collected using the Coriolis μ air sampler (Bertin Technologies), at 300 L/min airflow rate. For conventional methodologies, all the collected samples were incubated at 27ºC for five to seven days. Through conventional methods, Aspergillus flavus was the third fungal species (7%) most frequently found in 27 indoor air samples analysed and the most commonly isolated species (75%) in air samples containing only the Aspergillus genus...