Efeito de contágio no mercado financeiro português

Mestrado em Contabilidade e Gestão das Instituições Financeiras

A Fraude Contabilística no Sector Bancário e a Responsabilidade da Auditoria na sua prevenção e detecção: o caso português

Mestrado em Auditoria

Propriedades de investimento : A problemática das diferentes bases de mensuração no contexto dos grupos económicos. O caso particular da Sonae Sierra

Mestrado em Contabilidade

Interest rate exposure of Spanish banks: A nonparametric analysis

Interest rate risk is one of the major financial risks faced by banks due to the very nature of the banking business. The most common approach in the literature has been to estimate the impact of interest rate risk on banks using a simple linear regression model. However, the relationship between interest rate changes and bank stock returns does not need to be exclusively linear. This article provides a comprehensive analysis of the interest rate exposure of the Spanish banking industry employing both parametric and non parametric estimation methods. Its main contribution is to use, for the first time in the context of banks’ interest rate risk, a nonparametric regression technique that avoids the assumption of a specific functional form. One the one hand, it is found that the Spanish banking sector exhibits a remarkable degree of interest rate exposure, although the impact of interest rate changes on bank stock returns has significantly declined following the introduction of the euro. Further, a pattern of positive exposure emerges during the post-euro period. On the other hand, the results corresponding to the nonparametric model support the expansion of the conventional linear model in an attempt to gain a greater insight into the actual degree of exposure.

Occupational exposure to Aflatoxin B1 in Portuguese swine farms

Aflatoxins were first isolated about 40 years ago afier outbreaks of disease and death in turkeys and cancer in rainbow trout fed with rations formulated from peanut and cottonseed meals. These toxins are secondary metabolites produced under certain conditions of temperature, p14 and humidity predominantiy by Aspergilius flavus and Aspergilius parasiticus fungi species. Among 18 different types of aflatoxins identified, major members are aflatoxin B1, B2, G1 and G2. Aflatoxin B1 (AFB1) is normaily predominant in cultures as well as in food products. AFB1 was shown to be genotoxic and a potent hepatocarcinogen. This mycotoxin is metabolized by the mixed function oxidase system to a number of hydroxylated metabolites including the 8,9-epoxide. The latter is considered to be the ultimate carcinogen that reacts with cellular deoxyribonucleic acid (DNA) and proteins to form covalent adducts.

Occupational exposure to toxigenic Aspergillus versicolor in Portuguese swines

Biological factors associated with airbome dust are the most important hazards in pig buildings and include allergenic and/or toxic compounds, as well as infectious agents such as fungi and their metabolites, like mycotoxins. Inhalation of such agents can be a potential occupationai treat. Exposure of workers from swine confinement buildings to respiratory hazards has been reported elsewhere in Europe, Asia and America. Analogous data has not been reported for Portugal and this omission has hindered the development of policies in the area of occupational health and farm safety. Aspergilius versicolor is known as being the major producer of the hepatotoxic and carcinogenic mycotoxin sterigmatocystin. The toxicity of this mycotoxin is manifested primarily in liver and kidney. This study aimed to determine occupational exposure treat due to fungal contamination caused by A. versicolor in seven Portuguese swine.

Q192R polymorphism of the paraoxonase-1 gene as a risk factor for obesity in Portuguese women

Introduction - Obesity became a major public health problem as a result of its increasing prevalence worldwide. Paraoxonase-1 (PON1) is an esterase able to protect membranes and lipoproteins from oxidative modifications. At the PON1 gene, several polymorphisms in the promoter and coding regions have been identified. The aims of this study were i) to assess PON1 L55M and Q192R polymorphisms as a risk factor for obesity in women; ii) to compare PON1 activity according to the expression of each allele in L55M and Q192R polymorphisms; iii) to compare PON1 activity between obese and normal-weight women. Materials and methods - We studied 75 healthy (35.9±8.2 years) and 81 obese women (34.3±8.2 years). Inclusion criteria for obese subjects were body mass index ≥30 kg/m2 and absence of inflammatory/neoplasic conditions or kidney/hepatic dysfunction. The two PON1 polymorphisms were assessed by real-time PCR with TaqMan probes. PON1 enzymatic activity was assessed by spectrophotometric methods, using paraoxon as a substrate. Results - No significant differences were found for PON1 activity between normal and obese women. Nevertheless, PON1 activity was greater (P<0.01) for the RR genotype (in Q192R polymorphism) and for the LL genotype (in L55M polymorphism). The frequency of allele R of Q192R polymorphism was significantly higher in obese women (P<0.05) and was associated with an increased risk of obesity (odds ratio=2.0 – 95% confidence interval (1.04; 3.87)). Conclusion - 55M and Q192R polymorphisms influence PON1 activity. The allele R of the Q192R polymorphism is associated with an increased risk for development of obesity among Portuguese Caucasian premenopausal women.

Modelos de supervisão/regulação bancária: enquadramento internacional e desenvolvimentos mais recentes

Mestrado em Contabilidade e Análise Financeira

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...

Portuguese newspapers’ front-page and the coverage of European Cultural Capital: Porto 2001 and Guimarães 2012

Portugal hosted in the last thirteen years, two editions of the event European Cultural Capital; this paper intends to illustrate the coverage that Portuguese newspapers (daily newspapers Público, Diário de Notícias, Correio da Manhã and Jornal de Notícias, a weekly newsmagazine Visão and a weekly newspaper Expresso) made, through referrals in front-page and respective developments within the editions, to each of the events and that allows us to define the main moments that marked each of them, patterns of action, the major players, planning and programming types. The European Cultural Capital project elects, from year to year, cities of different EU member states with the main goal of “contributing to bring together the Europe´s people" (words of Mélina Mercouri, Greek Minister of Culture who, in 1985, proposed the launch of this initiative) and encouraging the elected urban space to present new cultural paradigms. In the genesis of this model is the cultural decentralization’s vector, a possibility to medium-sized cities of funding public works, restoring heritage and promoting themselves in touristic terms, of giving visibility to cities away from cultural and creative industries’ major distribution centers. A crucial factor to achieve this goal is media coverage. This paper outline the information that the Portuguese press ran over the two years that elapsed the latest editions of the European Cultural Capital in Portugal, namely that media coverage have deviated from the disclosure of the events’ schedule to suggest itineraries of visit and little or not even question the role that cities, promoting such initiatives, have as places of innovation in terms of cultural policies, artistic production and innovation, in urban and environmental regeneration, in economic revitalization, in training and creating new artists and new audiences and in boosting the confidence of local communities. The content analysis performed to articles shows how press is essential to the promotion of cities as cultural/touristic destinations as it stimulates consumption among residents and attracts visitors, with the possible dire consequence of turning the cultural journalist into an agent of touristic instead of cultural promotion.

Prevalence of Aspergillus section Fumigati in Portuguese slaughterhouses: a fungal and mycotoxin concern

Introduction - Within the Aspergillus genus, Aspergillus fumigatus species is one of the most ubiquitous saprophytic fungi and is considered the species with higher clinical relevance. The fungi belonging to the Fumigati section are the most common cause of invasive aspergillosis and a major source of infection related mortality in immunocompromised patients. One of the most abundant metabolites produced by Aspergillus fumigatus is the metabolite gliotoxin, which exhibits a diverse array of biologic effects on the immune system. Further, environments contaminated with A. fumigatus may be the cause or enhance respiratory problems in the workers of those specific settings. These species produce specific allergens and mycotoxins that could cause respiratory disorders. Aim of the study - The aim of the present work was to determine the prevalence of Aspergillus section Fumigati by cultural and molecular methods in poultry; swine and bovine; and large animal (bovine and horses) slaughterhouses.

Spanish monarchy and the Portuguese Republic: two routes to democratization

From 1974 to 1986 the Iberian Peninsula was the arena of major political changes. The process then undertaken was characterized by the transition from two Iberian authoritarian regimes to two democracies, which enabled both countries to join the European Economic Community (EEC) on 1 January 1986. However, the political vicissitudes until full membership of what became the European Union (EU) was achieved were very different and were decisively, although not exclusively, influenced by the fact Portugal was a republic and Spain a monarchy. In Portugal the 1974 revolution took place with consequent shift of the head of state while in Spain the engine of change was precisely the head of state: King Juan Carlos I. It is also true that despite the dangers to democracy (terrorism in Spain and some radicalism in Portugal) both societies supported the political parties committed to the democratic process in elections, which helped avoid tensions that could have defeated the process. Likewise, it is possible to argue that in Spain a plan to achieve democracy within the rule of law (an archetypal transition) was designed by the head of state, while in Portugal there was no pre-established plan – the programme of the Armed Forces Movement (Movimento das Forças Armadas [MFA]) was a weak and precarious compromise between different visions of the road to follow, enabling an intense political struggle that almost led to civil war and a dangerous state of crisis.

An approach to absorptive capacity based on the Portuguese textile industry

The main purpose of this research is to identify the hidden knowledge and learning mechanisms in the organization in order to disclosure the tacit knowledge and transform it into explicit knowledge. Most firms usually tend to duplicate their efforts acquiring extra knowledge and new learning skills while forgetting to exploit the existing ones thus wasting one life time resources that could be applied to increase added value within the firm overall competitive advantage. This unique value in the shape of creation, acquisition, transformation and application of learning and knowledge is not disseminated throughout the individual, group and, ultimately, the company itself. This work is based on three variables that explain the behaviour of learning as the process of construction and acquisition of knowledge, namely internal social capital, technology and external social capital, which include the main attributes of learning and knowledge that help us to capture the essence of this symbiosis. Absorptive Capacity provides the right tool to explore this uncertainty within the firm it is possible to achieve the perfect match between learning skills and knowledge needed to support the overall strategy of the firm. This study has taken in to account a sample of the Portuguese textile industry and it is based on a multisectorial analysis that makes it possible a crossfunctional analysis to check on the validity of results in order to better understand and capture the dynamics of organizational behavior.

An approach to absorptive capacity based on the Portuguese textile industry(Final version)

The main purpose of this research is to identify the hidden knowledge and learning mechanisms in the organization in order to disclosure the tacit knowledge and transform it into explicit knowledge. Most firms usually tend to duplicate their efforts acquiring extra knowledge and new learning skills while forgetting to exploit the existing ones thus wasting one life time resources that could be applied to increase added value within the firm overall competitive advantage. This unique value in the shape of creation, acquisition, transformation and application of learning and knowledge is not disseminated throughout the individual, group and, ultimately, the company itself. This work is based on three variables that explain the behaviour of learning as the process of construction and acquisition of knowledge, namely internal social capital, technology and external social capital, which include the main attributes of learning and knowledge that help us to capture the essence of this symbiosis. Absorptive Capacity provides the right tool to explore this uncertainty within the firm it is possible to achieve the perfect match between learning skills and knowledge needed to support the overall strategy of the firm. This study has taken in to account a sample of the Portuguese textile industry and it is based on a multisectorial analysis that makes it possible a crossfunctional analysis to check on the validity of results in order to better understand and capture the dynamics of organizational behavior.

Qualified intervention/qualifying formation

An education promoting scientific literacy (SL) that prepares the citizens to a responsible citizenship has persisted as an argument across discussions on curricula design. The ubiquity of science and technology on contemporary societies and the ideological requirement of informed democratic participation led to the identification of relevant categories that drive curriculum reforms towards a humanistic approach of school science. The category ‘Science as culture’ acquires in the current work a major importance: it enlightens the meaning of scientific literacy. Looking closely to the French term, culture scientifique et tecnologique, turns science simultaneously into a cultural object and product that can be both received and worked at different levels and within several approaches by the individuals and the communities. On the other hand, nonformal and informal education spaces gain greater importance. Together with the formal school environment these spaces allow for an enrichment and diversification of learning experiences. Examples of nonformal spaces where animators can develop their work may be science museums or botanical gardens; television and internet can be regarded as informal education spaces. Due to the above mentioned impossibility of setting apart the individual or community-based experiences from Science and Technology (S&T), the work in nonformal and informal spaces sets an additional challenge to the preparation of socio-cultural animators. Socio-scientific issues take, at times, heavily relevance within the communities. Pollution, high tension lines, spreading of diseases, food contamination or natural resources conservation are among the socio-scientific issues that often call upon arguments and emotions. In the context of qualifying programmes on socio-cultural animation (social education and community development) within European Higher Education Area (EHEA) the present study describes the Portuguese framework. The comparison of programmes within Portugal aims to contribute to the discussion on the curriculum design for a socio-cultural animator degree (1st cycle of Bologna process). In particular, this study intends to assess how the formation given complies with enabling animators to work, within multiple scenarios, with communities in situations of socio-scientific relevance. A set of themes, issues and both current and potential fields of action, not described or insufficiently described in literature, is identified and analysed in the perspective of a qualified intervention of animators. One of these examples is thoroughly discussed. Finally, suggestions are made about curriculum reforms in order, if possible, to strongly link the desired qualified intervention with a qualifying formation.