The accuracy of the escrowed dividend model on the value of European options on a stock paying discrete dividend

This project characterizes the accuracy of the escrowed dividend model on the value of European options on a stock paying discrete dividend. A description of the escrowed dividend model is provided, and a comparison between this model and the benchmark model is realized. It is concluded that options on stocks with either low volatility, low dividend yield, low ex-dividend to maturity ratio or that are deep in or out of the money are reasonably priced with the escrowed dividend model.

As forças de tipo gendarmerie e as operações/missões de gestão de crises da União Europeia

The European Union has taken in recent years an increasingly important role in ensuring peace and stability in the international community, and the security and defence policy of the Union has become synonymous with crisis management. The Union has addressed the issue of crisis management through two sources: the military side and the civilian side, which consists in carrying out numerous crisis management operations and missions. This study discusses the role of the European Union in conducting crisis management operations and missions and how the gendarmerie forces contribute to the success of the same. It will discuss the evolution of the European Union's security policy and the concept of crisis management, and seek to demonstrate the added value of the commitment of gendarmerie forces in operations and missions of crisis management, particularly with regard to employment of the European Gendarmerie Force. On the other hand, it will study the planning process for crisis management of the European Union, featuring the entities and agencies involved in it, and presenting the products that result from this same process. The use of Gendarmerie forces in crisis management operations and missions has significant advantages. Its use is recommended to post - conflict scenarios, in complementarity with the armed forces, in order to overcome the "security gap" that mediates the transition from the state of conflict for the period of peace and reconstruction. Gendarmerie forces can also be engaged both in military crisis management operations and civilian crisis management missions.

Alpha generation with Twitter’s daily momentum

This thesis does not set out to focus on the dynamics relationship between Twitter and stock prices, but instead tries to understand if using relevant information extracted from tweets has the power to increase investors’ stock picking ability, and generate alpha in portfolio’s choice relative to a benchmark. Despite the short period analyzed, it gives promising results that the sentiment analysis performed by Social Market Analytics Inc. applied to an equity portfolio, is able to generate positive abnormal returns, statistically significant in and out of sample.