Forest management in an urbanizing landscape

This paper aims at building a theoretical framework to examine the impact of development pressure on private owner’s forest management practices, namely, on regeneration and conversion cut dates. As the rent for developed land is rising over time, our model creates the possibility of switching from forestry to residential use at some point in the future, thus departing from the Faustmann’s traditional setup. Comparative statics results with respect to stumpage prices, regeneration costs and urban growth parameters are provided. The results obtained depend on the impact on the opportunity cost of holding the stand and the impact on the opportunity cost of holding the land, generalizing Faustmann’s unambiguous results.

Non–profit and investment attractiveness – best practices under a national perspective

A Work Project, presented as part of the requirements for the Award of a Masters Degree in Management from the NOVA – School of Business and Economics

Recognising, measuring and disclosing intangible assets under IAS 38 and IFRIC 12: Evidence from the Portuguese listed companies

A Work Project, presented as part of the requirements for the Award of a Masters Degree in Management from the NOVA – School of Business and Economics

Electoral opportunism and fiscal policy before and after the EMU

A Masters Thesis, presented as part of the requirements for the award of a Research Masters Degree in Economics from NOVA – School of Business and Economics

Going beyond duopoly: Connectivity breakdowns under receiving party pays

We show that the prediction of strategic connectivity breakdowns under a receiving-party-pays system and discrimination between on and off-net prices does not hold up once more than two mobile networks are considered. Indeed, if there are at least three competing networks and enough utility is obtained from receiving calls, only equilibria with finite call prices and receiving prices exist. Private negotiations over access charges then achieve the efficient outcome. Bill & keep (zero access charges) and free outgoing and incoming calls are efficient if and only marginal costs of calls are zero.

Some Notes on the Reception of Josquin and of Northern Idioms in Portuguese Music and Culture

Although Josquin is by far the best-represented foreign composer in Gonçalo de Baena's Arte novamente inventada pera aprender a tanger (Lisbon, 1540), his music is undeniably under-represented both in the extant sixteenth-century Portuguese manuscripts containing Franco-Flemish polyphony and in volumes imported from the Netherlands such as Coimbra MM 2 and VienNB 1783. Josquin’s reputation made him, along with Ockeghem, a symbol in Portuguese humanistic culture, but up to at least the late 1530s his name seems to have been much better known than his music. Nevertheless, possible allusions to specific works by Josquin can be found in early- and mid-sixteenth-century Portuguese polyphony. By the 1520s, the general technical and stylistic characteristics of his and the following generation of northerners had begun to permeate locally produced polyphony. This eventually replaced the late-fifteenth- and early-sixteenth-century pan-consonant and homorythmic style associated with the Aragonese and the so-called Spanish court repertory.

Toxicity of carcinogenic and non-carcinogenic Polycyclic Aromatic Hydrocarbons and their mixtures to aquatic organisms under ecologically-relevant scenarios

Polycyclic aromatic hydrocarbons (PAHs) are ubiquitous priority pollutants that tend to be trapped in aquatic sediments due to their high hydrophobicity. Nonetheless, the differential toxicological effects and mechanisms between the various classes of PAHs and their mixtures, as they invariably occur in the environment, are scarcely known, especially under ecologically-relevant scenarios. This thesis aimed at establishing a bridge between the study of mechanistic pathways and environmental monitoring of carcinogenic and non-carcinogenic PAHs, by introducing ecological-relevance in the research with model PAHs. A first bioassay conducted in situ with the mussel Mytilus edulis demonstrated that, dredging operations in harbours increase PAH bioavailability, eliciting genotoxicity, and showed that established environmental guidelines underestimate risk. Subsequent ex situ bioassays were performed with the carcinogenic benzo[b]fluoranthene (B[b]F) and non-carcinogenic phenantrene (Phe), selected following preceding results, and revealed that low-moderate concentrations of these PAHs in spiked sediments induce genotoxic effects to the clam Ruditapes decussatus, therefore contradicting the general notion that bivalves are less sensitive to PAHs than vertebrates due to inefficient bioactivation. Also, it was demonstrated that passive samplers permit inferring on PAH bioavailability but not on bioaccumulation or toxic effects. On the other hand, sea basses (Dicentrarchus labrax), yielded a complex pattern of effects and responses, relatively to genotoxicity, oxidative stress and production of specific metabolites, especially when exposed to mixtures of the PAHs which led to additive, if not synergistic, effects. It was shown that Phe may elicit significant genotoxicity especially in presence of B[b]F, even though the low, albeit realistic, exposure concentrations diluted dose- and time-independent relationships. The present work demonstrated that environmental quality guidelines underestimate the effects of PAHs in realistic scenarios and showed that the significant genotoxic and histopathological effects caused by mixed PAHs may not be reflected by oxidative stress- or CYP-related biomarkers. Besides important findings on the metabolism of PAH mixtures, the work calls for the need to re-evaluate the criteria for assessing risk and for the disclosure of more efficient indicators of toxicological hazard.

Brucelose na Província do Namibe, Angola, 2012 : prevalências humana (profissionais da pecuária) e animal, factores de risco, conhecimento e práticas

RESUMO - Enquadramento: A Brucelose é uma antropozoonose prevalente no Mundo e é uma das mais negligenciadas. A sua transmissão ao ser humano é directa e indirecta, e acontece por via de contacto com animal infectado, o consumo de leite e seus derivados não pasteurizados e a não observância de uso de equipamentos de protecção individual e colectiva, entre outros factores. O conhecimento da prevalência e incidência da brucelose animal e humana no Namibe, uma província de Angola, é muito escasso sendo poucos os estudos que evidenciam esta doença no seio dos profissionais da pecuária expostos: trabalhadores de matadouros, veterinários e criadores de gado. É assim pertinente, com base em estudos científicos específicos, caracterizar esta situação. Objectivos: Caracterizar os ambientes dos profissionais (matadouro, talhos e salas municipais de abate e explorações); estimar a seroprevalência da brucelose humana em profissionais da pecuária (trabalhadores de matadouros e criadores de gado bovino) na província do Namibe, Angola em 2012; determinar a associação da presença da brucelose humana com variáveis sócio-demográficas, de conhecimento, de práticas e de características das explorações; determinar a prevalência da Brucelose em animais e em explorações; caracterizar os factores associados à presença da Brucelose em explorações bovinas; caracterizar o conhecimento e práticas sobre a Brucelose dos profissionais da pecuária e analisar a relação entre as prevalências nas explorações (infectadas versus não infectadas) e nos criadores (infectados versus não infectados). Métodos e materiais: estudos observacional e transversal seroepidemiológico em 131 trabalhadores de talhos, salas de abate e matadouro e 192 criadores amostrados aleatoriamente em toda província do Namibe. Os dados foram obtidos através da colheita de sangue e da aplicação de um questionário. Os testes laboratoriais utilizados foram o Rosa de Bengala (RBT) e a Aglutinação Lenta em Tubos (SAT). O estudo de conhecimento foi principalmente centrado na pergunta “Já ouviu falar de Brucelose” e nas questões relativas ao nível de conhecimento e práticas (indicadores baseados nas percentagens de respostas correctas ou práticas adequadas) dos factores de risco da Brucelose. Também foram investigados 1344 animais (em 192 explorações) com recurso ao método de diagnóstico laboratorial RBT para análise de soro sanguíneo e, complementarmente, foi aplicado um questionário aos respectivos criadores. Em termos de análise estatística, para além da abordagem descritiva, foram utilizados os testes de Independência do Quiquadrado, Fisher, Teste não paramétrico de Mann-Whitney, Teste de correlação de Spearman. Adicionalmente, com base em modelos de regressão logística, foram determinados odds ratio e os respectivos intervalos de confiança utilizando um nível de significância de 5%. Resultados: os ambientes dos profissionais (matadouro, talhos e salas municipais de abate e explorações) não reuniram as condições higio-sanitárias definidas internacionalmente como adequadas. Nos profissionais a infecção geral ponderada da Brucelose foi de 15.56% (IC95% : 13.61-17.50), sendo 5.34% em trabalhadores e 16.66% (IC95% : 11.39-21.93) em criadores. A significância estatística foi observada entre a seroprevalência humana e a categoria (trabalhador e criador) (p< 0.001) e o nível de instrução (p= 0.032), início de actividade (p= 0.079) e local de serviço (p= 0.055). Num contexto multivariado o factor positivamente associado à brucelose em profissionais foi a categoria profissional (OR = 3.54, IC95%: 1.57-8.30, relativo aos criadores em relação a trabalhadores). As taxas gerais aparentes de prevalência em animais e explorações foram respectivamente de 14.96% (IC 95%, 12.97-17.19) e de 40.10% (IC 95%, 32.75-47.93). Encontrou-se uma correlação positiva moderada entre o número de animais infectados por exploração com a média do número de abortos na exploração = 0.531, p< 0.001). Em média os profissionais tiveram um conhecimento global muito insuficiente (16.1%), tendo os trabalhadores apresentado valores mais elevados que os criadores (20.2% e 13.8%), diferença não estatisticamente significativa (p= 0.170). As perguntas “o leite in natura é fervido antes do consumo humano?”, “contacto com materiais fetais animais?”, “contacto com aerossóis no local de trabalho?” e “já fez alguma vez o teste de Brucelose humana?” (relacionadas com práticas) e as perguntas “já ouviu falar da Brucelose?”, “Brucelose é doença zoonótica/só animal/só humana? e “como a Brucelose se transmite aos humanos?” apresentaram níveis médios de práticas adequadas e conhecimentos correctos inferiores a 20%. Nas explorações infectadas, 39% dos criadores foram positivos (infectados) e nas não infectadas apenas 1.7%. O risco de um criador ser infectado estando numa exploração infectada foi significativamente mais elevado (OR= 36, IC95%: 8.28-157.04). Conclusões: os ambientes dos profissionais (matadouros, salas municipais de abate e talhos e explorações) propiciam o risco à brucelose. O estudo permite aferir que a Brucelose humana em profissionais da pecuária e a Brucelose animal são prevalentes na província do Namibe. Os níveis de seroprevalência detectados são elevados comparandoos com outros encontrados em algumas localidades africanas que possuem condições similares às do Namibe. Perto de duas em cada cinco (40.10%) explorações estão infectadas por esta doença. O número de abortos (média) está claramente relacionado com as explorações infectadas. O conhecimento geral dos profissionais da pecuária sobre a Brucelose é muito insuficiente, tendo os trabalhadores mostrado um maior conhecimento em relação aos criadores, mas ambos com níveis alarmantes. Os criadores infectados estão relacionados com as explorações infectadas. Há necessidade de controlar a doença e de informar e educar os profissionais sobre a brucelose, sendo fundamental que os serviços provinciais de veterinária reforcem acções de divulgação e de fiscalização.

Support in decision-making under uncertainty: a project risk assessment tool development and supplementary advances

A foremost dispute that persists on the contemporary world’s agenda is change. The on-going social/technological/economic changes create a competitive and challenging environment for companies to endure. To benefit from these changes, world economies partially depend on emerging Small and Medium Enterprises (SMEs) and their adaptability skills, and subsequently the development of an integrated capability to innovate has become the prime strategy for most of SMEs to subsist and grow. However, innovation and change are always somewhat bonded to an inherent risk development, which subsequently brings on the necessity of a revision of risk management approaches in innovative processes, whose importance SMEs tend to disregard. Additionally, little efforts have been made to improve and create empirical models, metrics and tools to assist SMEs managing latent risks in their innovative projects. This work seeks to present and discuss a solution to support SMEs in engaging on systematic risk management practices, which consists on an integrated risk assessment and response support web-based tool - Spotrisk® - designed for SMEs. On the other hand, an inherent subjectivity is linked with risk management and identification processes, due to uncertainty trait of its nature, for each individual perceives situations according to his own idiosyncrasy, which brings complications in normalizing risk profiles and procedures. This essay aims to bring insights concerning the support in decision-making processes under uncertainty, by addressing issues related with the risk behavior character among individuals. To address such issues, subjects of neuroscience or psychology are explored and models to identify such character are proposed, as well as models to improve presented tool. This work attempts to go beyond the restrictive aim of endeavoring on technical improvement dissertation, and in embraces an exploratory conceptualization concerning micro, small and medium businesses’ traits regarding risk characters and project risk assessment tools.

Attractiveness of European masters under Bologna constraints: The South American case

This paper studies strategies to attract students from outside Europe to European preexperience masters. We characterize the value added by such masters through interviews with key players at the universities and multinational recruiting corporations. We considered a strategy for segmenting international students in the US and extended it to the European market. We have analyzed data from international applications to Nova SBE as a proxy for applications in European institutions. Based on that analysis we conclude with recommendations to attract suitable candidates from outside Europe. In particular we also provided three different solutions to attract students from the southern hemisphere: we conclude that European institutions should (a) increase the spring semester intake, (b) provide bridging courses for some students, or (c) could place some accepted candidates in internships before starting classes.

Fiscal policy under financial stress: A threshold VAR approach

The purpose of the project is to measure the impact of fiscal policy on the Portuguese GDP and how it may vary according to the state of the financial market. A Threshold VAR model is presented in which the two regimes are found using a financial stress index that divides the economy into a situation of financial stress and financial stability.

Prospective system analysis of stationary battery systems under the frame of Constructive Technology Assessment

Based on the report for the unit “Project IV” of the PhD programme on Technology Assessment under the supervision of Dr.-Ing. Marcel Weil and Prof. Dr. António Brandão Moniz. The report was presented and discussed at the Doctorate Conference on Technologogy Assessment in July 2013 at the University Nova Lisboa, Caparica campus.

Macroeconomic effects of monetary policy in the Eurozone

To study the macroeconomic effects of unconventional monetary policy across the different countries of the eurozone, I develop an identification scheme to disentangle conventional from non-conventional policy shocks, using futures contracts on overnight interest rates and the size of the European Central Bank balance sheet. Setting these shocks as endogenous variables in a structural vector autoregressive (SVAR) model, along with the CPI and the employment rate, estimated impulse response functions of policy to macroeconomic variables are studied. I find that unconventional policy shocks generated mixed effects in inflation but had a positive impact on employment, with the exception of Portugal, Spain, Greece and Italy where the employment response is close to zero or negative. The heterogeneity that characterizes the responses shows that the monetary policy measures taken in recent years were not sufficient to stabilize the economies of the eurozone countries under more severe economic conditions.

Dynamic delta hedging of autocallables under a discrete rebalancing context

This work tests different delta hedging strategies for two products issued by Banco de Investimento Global in 2012. The work studies the behaviour of the delta and gamma of autocallables and their impact on the results when delta hedging with different rebalancing periods. Given its discontinuous payoff and path dependency, it is suggested the hedging portfolio is rebalanced on a daily basis to better follow market changes. Moreover, a mixed strategy is analysed where time to maturity is used as a criterion to change the rebalancing frequency.

Under the veil of citations

Academics are often ranked on citation counts’, which is considered an adequate proxy for author's quality and reputation. This paper seeks to find what is behind a cited academic / a cited article. We constructed a rich dataset from Portuguese affiliated economists and use zero inflated negative binomial model. This procedure is appropriate for count outcomes, correcting for overdispersion and excess zeros. We also use a fixed effect poisson model to accomodate authors' unobserved heterogeneity. We analyze results in detail comparing with existing literature and making some theoretical considerations around.