Determinants of the Portuguese government bond yield spread

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

Adsorption equilibria of flue gas components on activated carbon

Dissertação para obtenção do Grau de Mestre em Engenharia Química e Bioquímica

Development of a "green process" for the isolation of natural functional extracts with anti-cancer activity - Application of high-pressure technology

Dissertação para obtenção do Grau de Mestre em Engenharia Química e Bioquímica

Lime mortars with ceramic wastes: characterization of components and their influence on the mechanical behaviour

Considering the fundamental importance of preserving the built heritage and of ensuring the good performance achieved by incorporating ceramic particles in lime mortars in ancient times, it is important to study solutions that use materials the available today, in order to produce mortars intended to repair and replace the old ones. Solutions incorporating industrial ceramic waste might be profitable for several reasons, namely for economic, environmental and technical aspects. In this paper, seven ceramic waste products collected from ceramics factories are characterized. Their mineralogy, dimensional features and pozzolanicity were determined. Three of these products, with different particle size fractions (obtained directly from milling, dust only and fragment fractions only), were selected, incorporated into air lime mortars, and their mechanical strength was determined. In the present work, evidence of mechanical efficiency, when common sand or air lime were partially replaced by ceramic wastes, was made clear, drawing attention to the sustainability of this type of mortars, hence, encouraging further research.

Can the Yield Spread predict economic growth? An assessment for European countries

Double Degree. A Work Project presented as part of the requirements for the Award of a Masters Degree in Economics from the NOVA- School of Business and Economics and a Masters Degree in Management from Louvain School of Management

Search-for-yield in Portuguese fixed-income mutual funds and monetary policy

This paper studies the effects of monetary policy on mutual fund risk taking using a sample of Portuguese fixed-income mutual funds in the 2000-2012 period. Firstly I estimate time-varying measures of risk exposure (betas) for the individual funds, for the benchmark portfolio, as well as for a representative equally-weighted portfolio, through 24-month rolling regressions of a two-factor model with two systematic risk factors: interest rate risk (TERM) and default risk (DEF). Next, in the second phase, using the estimated betas, I try to understand what portion of the risk exposure is in excess of the benchmark (active risk) and how it relates to monetary policy proxies (one-month rate, Taylor residual, real rate and first principal component of a cross-section of government yields and rates). Using this methodology, I provide empirical evidence that Portuguese fixed-income mutual funds respond to accommodative monetary policy by significantly increasing exposure, in excess of their benchmarks, to default risk rate and slightly to interest risk rate as well. I also find that the increase in funds’ risk exposure to gain a boost in return (search-for-yield) is more pronounced following the 2007-2009 global financial crisis, indicating that the current historic low interest rates may incentivize excessive risk taking. My results suggest that monetary policy affects the risk appetite of non-bank financial intermediaries.

Fishing the key biological components of the bacterium Geobacter metallireducens for optimal biotechnological applications

Os resultados apresentados no capítulo 2 foram incluídos no artigo Dantas JM, Campelo LM, Duke NEC, Salgueiro CA, Pokkuluri PR (2015) "The structure of PccH from Geobacter sulfurreducens – a novel low reduction potential monoheme cytochrome essential for accepting electrons from an electrode", FEBS Journal, 282, 2215-2231.

Saeta Yield utilities

Equity research report