Post-merger innovative performance in the renewable energy sector

Due to global warming and shrinking fossil fuel resources, politics as well as society urge for a reduction of green house gas (GHG) emissions. This leads to a re-orientation towards a renewable energy sector. In this context, innovation and new technologies are key success factors. Moreover, the renewable energy sector has entered a consolidation stage, where corporate investors and mergers and acquisitions (M&A) gain in importance. Although both M&A and innovation in the renewable energy sector are important corporate strategies, the link between those two aspects has not been examined before. The present thesis examines the research question how M&A influence the acquirer’s post-merger innovative performance in the renewable energy sector. Based on a framework of relevant literature, three hypotheses are defined. First, the relation between non-technology oriented M&A and post-merger innovative performance is discussed. Second, the impact of absolute acquired knowledge on postmerger innovativeness is examined. Third, the target-acquirer relatedness is discussed. A panel data set of 117 firms collected over a period of six years has been analyzed via a random effects negative binomial regression model and a time lag of one year. The results support a non-significant, negative impact of non-technology M&A on postmerger innovative performance. The applied model did not support a positive and significant impact of absolute acquired knowledge on post-merger innovative performance. Lastly, the results suggest a reverse relation than postulated by Hypothesis 3. Targets from the same industry significantly and negatively influence the acquirers’ innovativeness.

Entrepreneurial innovative ventures: Internationalization strategy of NMusic

Field lab: Entrepreneurial and innovative ventures

Questionário de satisfação do utente e do profissional : impacto num laboratório de análises clínicas

RESUMO: Temos assistido a uma evolução impressionante nos laboratórios de análises clínicas, os quais precisam de prestar um serviço de excelência a custos cada vez mais competitivos. Nos laboratórios os sistemas de gestão da qualidade têm uma importância significativa nesta evolução, fundamentalmente pela procura da melhoria continua, que ocorre não só ao nível de processos e técnicas, mas também na qualificação dos diferentes intervenientes. Um dos problemas fundamentais da gestão e um laboratório é a eliminação de desperdícios e erros criando benefícios, conceito base na filosofia LeanThinking isto é “pensamento magro”, pelo que é essencial conseguir monitorizar funções críticas sistematicamente. Esta monitorização, num laboratório cada vez mais focalizado no utente, pode ser efetuada através de sistemas e tecnologias de informação, sendo possível contabilizar número de utentes, horas de maior afluência, tempo médio de permanência na sala de espera, tempo médio para entrega de análises, resultados entregues fora da data prevista, entre outros dados de apoio à decisão. Devem igualmente ser analisadas as reclamações, bem como a satisfação dos utentes quer através do feedback que é transmitido aos funcionários, quer através de questionários de satisfação. Usou-se principalmente dois modelos: um proposto pelo Índice Europeu de Satisfação do Consumidor (ECSI) e o outro de Estrutura Comum de Avaliação (CAF). Introduziram-se igualmente dois questionários: um apresentado em formato digital num posto de colheitas, através de um quiosque eletrónico, e um outro na página da internet do laboratório, ambos como alternativa ao questionário em papel já existente, tendo-se analisado os dados, e retirado as devidas conclusões. Propôs-se e desenvolveu-se um questionário para colaboradores cuja intenção foi a de fornecer dados úteis de apoio à decisão, face à importância dos funcionários na interação com os clientes e na garantia da qualidade ao longo de todo o processo. Avaliaram-se globalmente os resultados sem que tenha sido possível apresentá-los por política interna da empresa, bem como se comentou de forma empírica alguns benefícios deste questionário. Os principais objetivos deste trabalho foram, implementar questionários de satisfação eletrónicos e analisar os resultados obtidos, comparando-os com o estudo ECSI, de forma a acentuar a importância da análise em simultâneo de dois fatores: a motivação profissional e a satisfação do cliente, com o intuito de melhorar os sistemas de apoio à decisão. ------------------------ ABSTRACT: We have witnessed an impressive development in clinical analysis laboratories, which have to provide excellent service at increasingly competitive costs, quality management systems have a significant importance in this evolution, mainly by demanding continuous improvement, which does not occur only in terms of processes and techniques, but also in the qualification of the various stakeholders. One key problem of managing a laboratory is the elimination of waste and errors, creating benefits, concept based on Lean Thinking philosophy, therefore it is essential be able to monitor critical tasks systematically. This monitoring, in an increasingly focused on the user laboratory can be accomplished through information systems and technologies, through which it is possible to account the number of clients, peak times, average length of waiting room stay, average time for delivery analysis, delivered results out of the expected date, among other data that contribute to support decisions, however it is also decisive to analyzed complaint sand satisfaction of users through employees feedback but mainly through satisfaction questionnaires that provides accurate results. We use mainly two models one proposed by the European Index of Consumer Satisfaction (ECSI), directed to the client, and the Common Assessment Framework (CAF), used both in the client as the employees surveys. Introduced two questionnaires in a digital format, one in the central laboratory collect center, through an electronic kiosk and another on the laboratory web page, both as an alternative to survey paper currently used, we analyzed the results, and withdrew the conclusions. It was proposed and developed a questionnaire for employees whose intention would be to provide useful data to decision support, given the importance of employees in customer interaction and quality assurance throughout the whole clinical process, it was evaluated in a general way because it was not possible to show the results, however commented an empirical way some benefits of this questionnaire. The main goals of this study were to implement electronic questionnaires and analyze the results, comparing them with the ECSI, in order to emphasize the importance of analyzing simultaneously professional motivation with customer satisfaction, in order to improve decision support systems.

Património Cultural Imaterial: MEMORIAMEDIA e-Museu - métodos, técnicas e práticas / Intagible Cultural Heritage: MEMORIAMEDIA e-Museum - methods, techniques and practices

O projeto MEMORIAMEDIA tem como objetivos o estudo, a inventariação e divulgação de manifestações do património cultural imaterial: expressões orais; práticas performativas; celebrações; o saber-fazer de artes e ofícios e as práticas e conhecimentos relacionados com a natureza e o universo. O MEMORIAMEDIA iniciou em 2006, em pleno debate nacional e internacional das questões do património cultural imaterial. Este livro cruza essas discussões teóricas, metodológicas e técnicas com a caracterização do MEMORIAMEDIA. Os resultados do projeto, organizados num inventário nacional, estão publicados no site www.memoriamedia.net, onde se encontram disponíveis para consulta e partilha. Filomena Sousa é investigadora de pós-doutoramento em antropologia (FCSH/UNL) e doutorada em sociologia (ISCTE-IUL). Membro integrado no Instituto de Estudos de Literatura e Tradição - patrimónios, artes e culturas (IELT) da FCSH/UNL e consultora da Memória Imaterial CRL – organização não-governamental autora e gestora do projeto MEMORIAMEDIA. Desenvolve investigação no âmbito das políticas e instrumentos de identificação, documentação e salvaguarda do património cultural imaterial e realizou vários documentários sobre expressões culturais.

Development and application of NMR techniques to study water-in-CO2 microemulsions

Self-assembly is a phenomenon that occurs frequently throughout the universe. In this work, two self-assembling systems were studied: the formation of reverse micelles in isooctane and in supercritical CO2 (scCO2), and the formation of gels in organic solvents. The goal was the physicochemical study of these systems and the development of an NMR methodology to study them. In this work, AOT was used as a model molecule both to comprehensively study a widely researched system water/AOT/isooctane at different water concentrations and to assess its aggregation in supercritical carbon dioxide at different pressures. In order to do so an NMR methodology was devised, in which it was possible to accurately determine hydrodynamic radius of the micelle (in agreement with DLS measurements) using diffusion ordered spectroscopy (DOSY), the micellar stability and its dynamics. This was mostly assessed by 1H NMR relaxation studies, which allowed to determine correlation times and size of correlating water molecules, which are in agreement with the size of the shell that interacts with the micellar layer. The encapsulation of differently-sized carbohydrates was also studied and allowed to understand the dynamics and stability of the aggregates in such conditions. A W/CO2 microemulsion was prepared using AOT and water in scCO2, with ethanol as cosurfactant. The behaviour of the components of the system at different pressures was assessed and it is likely that above 130 bar reverse microemulsions were achieved. The homogeneity of the system was also determined by NMR. The formation of the gel network by two small molecular organogelators in toluene-d8 was studied by DOSY. A methodology using One-shot DOSY to perform the spectra was designed and applied with success. This yielded an understanding about the role of the solvent and gelator in the aggregation process, as an estimation of the time of gelation.

Plasma nitriding of AA2011 alloy and surface characterization by NDT techniques

Al-Cu alloys are widely used in the aerospace and automotive industries due to their high specific strength in some tempered conditions. However, due to poor corrosion and wear resistance, they are often anodized and/or painted. Plasma nitriding has been proposed as an alternative, though the developments in this technique are still in a recent stage for Al alloys. Electrical characterization techniques are well implemented NDTs in the industry because of good accuracy associated with lower cost, compared to other methods. Some, like eddy currents and 4-point probe techniques, are often used in coating inspection. The objective of this study was to perform Al nitriding at low temperatures to minimize the tempering initial condition damage and to assess the feasibility of eddy currents technique as a method for evaluating surface properties. The work developed can be divided in two stages. The first one was the process tuning, done at the Shibaura Institute of Technology, in Tokyo; and the second was the electrical characterization done in Faculdade de Ciências e Tecnologia, UNL. Low temperature nitriding of AA2011 alloy specimens was successfully achieved. Electrical conductivity results show that lift-off measurements by eddy currents testing can be related to surface properties.

An agent based architecture to support monitoring in plug and produce manufacturing systems using knowledge extraction

In recent years a set of production paradigms were proposed in order to capacitate manufacturers to meet the new market requirements, such as the shift in demand for highly customized products resulting in a shorter product life cycle, rather than the traditional mass production standardized consumables. These new paradigms advocate solutions capable of facing these requirements, empowering manufacturing systems with a high capacity to adapt along with elevated flexibility and robustness in order to deal with disturbances, like unexpected orders or malfunctions. Evolvable Production Systems propose a solution based on the usage of modularity and self-organization with a fine granularity level, supporting pluggability and in this way allowing companies to add and/or remove components during execution without any extra re-programming effort. However, current monitoring software was not designed to fully support these characteristics, being commonly based on centralized SCADA systems, incapable of re-adapting during execution to the unexpected plugging/unplugging of devices nor changes in the entire system’s topology. Considering these aspects, the work developed for this thesis encompasses a fully distributed agent-based architecture, capable of performing knowledge extraction at different levels of abstraction without sacrificing the capacity to add and/or remove monitoring entities, responsible for data extraction and analysis, during runtime.

ReedCob – An eco-efficient building technology for monolithic walls based on earth and reeds

4th Conference COST ACTION FP1303 – Designing with Bio-based Materials – Challenges and opportiunities. INIA – CSIC, Madrid, 24-25 February 2016. Book of abstracts, T.Troya, J.Galván, D.Jones (Eds.), INIA and IETcc – CSIS, pg. 79-80 (ISBN: 978-91-88349-16-3)

Monitoring liquidity risk at BPI GA

Field lab: Business project

Terapia celular com células mesenquimais por via intracoronária: contributos do estudo invasivo da microcirculação coronária

RESUMO: Introdução - A utilização de células e das suas propriedades para o tratamento das doenças cardiovasculares, é uma promessa para o futuro e talvez a única forma de ultrapassar algumas das insuficiências das terapêuticas atuais. A via de entrega das células mais utilizada na investigação tem sido a intracoronária, ganhando a microcirculação especial relevância, por ser onde ocorre a primeira interação com o tecido nativo. As células estaminais mesenquimais (CEM) têm propriedades que as tornam particularmente aptas para a Terapia Celular, mas as suas dimensões, superiores ao diâmetro dos capilares, tem motivado controvérsia quanto à sua entrega intracoronária. A cardiologia de intervenção tem atualmente técnicas que permitem a avaliação em tempo real e in vivo do estado da microcirculação coronária. A determinação do índice da resistência da microcirculação (IRM) fornece informação sobre a circulação dos pequenos vasos, de forma independente da circulação coronária e do estado hemodinâmico, mas a aplicabilidade clínica deste conhecimento encontra-se ainda por definir. Objectivos Esclarecer o potencial do IRM no estudo dos efeitos do transplante de CEM por via intracoronária. População e Métodos . Estudo pré-clínico com modelo animal (suíno) desenvolvido em 3 fases. Na Primeira Fase foram utilizados 8 animais saudáveis para estudar e validar a técnica de determinação de estudo da microcirculação. Efetuou-se a determinação do IRM com duas doses diferentes de papaverina para a indução da resposta hiperémica máxima (5 e 10 mg) e após a disfunção da microcirculação com injeção intracoronária de microesferas de embozene com 40 μm de diâmetro. Na Segunda Fase foram utilizados 18 animais saudáveis, randomizados em grupo controlo e grupo recetor de 30 x 106 CEM por via intracoronária. Foram avaliados de forma cega o IRM, a pressão aórtica, o fluxo coronário epicárdico e a ocorrência de alterações electrocardiográficas. Na Terceira Fase foram utilizados 18 animais, com enfarte agudo do miocárdio provocado (EAM), randomizados em grupo controlo, grupo recetor de CEM expandidas de forma convencional e grupo recetor de CEM expandidas com metodologia inovadora e de menores dimensões. Foi realizada uma exploração da dose/efeito com infusão faseada de 10 x 106, 15 x 106 e 20 x 106 CEM, com determinação do IRM, da pressão aórtica, do fluxo coronário epicárdico e da ocorrência de alterações eletrocardiográficas. Quatro semanas após a entrega das células foi novamente avaliado o IRM e foi efetuado o estudo anatomopatológico dos animais na procura de evidência de neoangiogénese e de regeneração miocárdica, ou de um efeito positivo da resposta reparadora após o enfarte. Resultados Nas 3 fases todos os animais mantiveram estabilidade hemodinâmica e eletrocardiográfica, com exceção da elevação de ST de V1-V3 verificada após a injeção das microesferas. Na Primeira Fase as duas doses de papaverina induziram uma resposta hiperémica eficaz, sem tradução com significado na determinação do IRM (variação da pressão distal de - 11,4 ± 5 e de - 10,6± 5 mmHg com as doses de 5 e 10 mg respetivamente (p=0,5). Com a injeção das microesferas o IRM teve uma elevação média de 310 ± 190 %, para um valor médio de 41,3 ± 16 U (p = 0,001). Na Segunda Fase não houve diferenças significativas dos parâmetros hemodinâmicos, do fluxo epicárdico e da avaliação eletrocardiográfica entre os dois grupos. O IRM de base foi semelhante e após a infusão intracoronária observou-se uma elevação expressiva do IRM nos animais que receberam células em comparação com o grupo controlo (8,8 U ± 1 vs. 14,2 U ± 1,8, P=0,02) e quanto ao seu valor de base (aumento de 112%, p=0,008). Na terceira Fase não houve novamente diferenças significativas dos parâmetros hemodinâmicos, do fluxo epicárdico e da avaliação eletrocardiográfica entre os três grupos. Houve uma elevação do IRM nos animais que receberam células a partir da 2ª dose (72% nas células convencionai e 108% nas células inovadoras) e que se manteve com a 3ª dose (100% nas células convencionais e 88% nas inovadoras) com significado estatístico em comparação com o grupo controlo (p=0,034 com a 2ªdose e p=0,024 com a 3ª dose). Quatro semanas após a entrega das CEM observou-se a descida do IRM nos dois grupos que receberam células, para valores sobreponíveis aos do grupo controlo e aos valores pós-EAM. Na avaliação anatomopatológica e histológica dos corações explantados não houve diferenças entre os três grupos. Conclusões O IRM permite distinguir alterações da microcirculação coronária motivadas pela entrega intracoronária de CEM, na ausência de alterações de outros parâmetros clínicos da circulação coronária utilizados em tempo real. As alterações do IRM são progressivas e passíveis de avaliar o efeito/dose, embora não tenha sido possível determinar diferenças com os dois tipos de CEM. No nosso modelo a injeção intracoronária não se associou a evidência de efeito benéfico na reparação ou regeneração miocárdica após o EAM.---------------------------- ABSTRACT: ABSTRACT Introduction The use of cells for the treatment of cardiovascular disease is a promise for the future and perhaps the only option to overcome some of the shortcomings of current therapies. The strategy for the delivery of cells most often used in current research has been the intracoronary route and due to this microcirculation gains special relevance, mainly because it is the first interaction site of transplanted cells with the native tissue. Mesenchymal stem cells (MSC) have properties that make them suitable for Cell Therapy, but its dimensions, larger than the diameter of capillaries, have prompted controversy about the safety of intracoronary delivery. The interventional cardiology currently has techniques that allow for real-time and in vivo assessment of coronary microcirculation state. The determination of the index of microcirculatory resistance index (IMR) provides information about small vessels, independently of the coronary circulation and hemodynamic status, but the clinical applicability of this knowledge is yet to be defined. Objectives To clarify the potential use of IMR in the study of the effects of MSC through intracoronary transplantation. Population and Methods Preclinical study with swine model developed in three phases. In Phase One 8 healthy animals were used to study and validate the IMR assessment in our animal model. IMR was assessed with two different doses of papaverine for inducing the maximal hyperaemic response (5 and 10 mg) and microcirculation dysfunction was achieved after intracoronary injection with embozene microspheres with 40 μm in diameter. In Phase Two we randomized 18 healthy animals divided between the control group and the one receiving 30 x 106 MSC through an intracoronary infusion. There we blindly evaluated IMR, the aortic pressure, the epicardial coronary flow and the occurrence of ECG changes. In Phase Three we used 18 animals with a provoked acute myocardial infarction (AMI), randomized into a control group, a MSC expanded conventionally receiver group and a MSC expanded with an innovative methodology receiver group. There was a stepwise infusion with doses of 10 x 106, 15 x 106 and 20 x 106 MSC with determination of IMR, the aortic pressure, the epicardial coronary flow and occurrence of electrocardiographic abnormalities. Four weeks after cell delivery we again measured the IMR and proceeded with the pathological study of animals in the search for evidence of neoangiogenesis and myocardial regeneration, or a positive effect in the reparative response following the infarction. Results All animals remained hemodynamically stable and with no electrocardiographic abnormalities, except for the ST elevation in V1-V3 observed after injection of the microspheres. In Phase One the two doses of papaverine achieved an hyperemic and effective response without significant differences in IMR (variation of the distal pressure -11.4 ± 5 and -10.6 ± 5 mmHg with the doses of 5 and 10 mg respectively (p = 0.5). With the injection of the microspheres the IMR had an average increase of 310 ± 190% for an average value of 41.3 ± 16 U (p = 0.001). In the second phase there were no significant differences in hemodynamic parameters, epicardial flow and electrocardiographic assessment between the two groups. The baseline IMR was similar and after intracoronary infusion there was a significant increase in animals receiving cells compared with the control group (8.8 ± U 1 vs. 14.2 ± 1.8, p = 0.02) and with their baseline (112% increase, p = 0.008). In the third phase again there were no significant differences in hemodynamic parameters, the epicardial flow and electrocardiographic evaluation between the three groups. There was a significant increase in IMR in animals that received cells from the 2nd dose (72% in conventional cells and 108% in the innovative cells) that remained with the 3rd dose (100% in conventional cells and 88% in the innovative) with statistical significance compared with the control group (p = 0.034 with 2nd dose, p = 0.024 with 3rd dose). Four weeks after delivery of the MSC we observed the fall of the IMR in the two groups that received cells with values overlapping those of the control group. In pathological and histological evaluation of removed hearts there were no differences among the three groups. Conclusions The IMR allows for the differentiation of changes in coronary microcirculation motivated by intracoronary delivery of MSC in the absence of modification in other clinical parameters. IMR changes are progressive and enable the evaluation of the effect / dose, though it has not been possible to determine differences in the two types of MSC. In our model, intracoronary injection of MSC was not associated with evidence of repair or myocardial regeneration after AMI.

A new credit monitoring framework for agents' networks

The purpose of this work is to develop a practicable approach for Telecom firms to manage the credit risk exposition to their commercial agents’ network. Particularly it will try to approach the problem of credit concession to clients’ from a corporation perspective and explore the particular scenario of agents that are part of the commercial chain of the corporation and therefore are not end-users. The agents’ network that served as a model for the presented study is composed by companies that, at the same time, are both clients and suppliers of the Telecommunication Company. In that sense the credit exposition analysis must took into consideration all financial fluxes, both inbound and outbound. The current strain on the Financial Sector in Portugal, and other peripheral European economies, combined with the high leverage situation of most companies, generates an environment prone to credit default risk. Due to these circumstances managing credit risk exposure is becoming increasingly a critical function for every company Financial Department. The approach designed in the current study combined two traditional risk monitoring tools: credit risk scoring and credit limitation policies. The objective was to design a new credit monitoring framework that is more flexible, uses both external and internal relationship history to assess risk and takes into consideration commercial objectives inside the agents’ network. Although not explored at length, the blueprint of a Credit Governance model was created for implementing the new credit monitoring framework inside the telecom firm. The Telecom Company that served as a model for the present work decided to implement the new Credit Monitoring framework after this was presented to its Executive Commission.

Innovative medicines in the portuguese private health sector

The present dissertation aims at contributing to a strategic view over the use of innovative medicines in the portuguese private health sector, as a way of being complementary to public system that nowadays finances most of the innovative medicines. With the rationalization of expenses in the public health sector, pharmaceutical companies tend to look for opportunities of expansion to the private sector. The creation of innovative financial models for the private sector to cover innovative treatments is the proposed way of surpassing the restriction on the NHS sales of innovative medicines. This can be both for differentiating private health providers from the NHS or for the creation of premium services that can be differentiated from other private providers of the portuguese market.

The reasons behind the progression in PISA scores: An education production function approach using semi-parametric techniques

Research Masters

Assessment of NDVI, land surface temperature and precipitation anomalies for drought monitoring in Bayankhongor province, Mongolia

During the last decade Mongolia’s region was characterized by a rapid increase of both severity and frequency of drought events, leading to pasture reduction. Drought monitoring and assessment plays an important role in the region’s early warning systems as a way to mitigate the negative impacts in social, economic and environmental sectors. Nowadays it is possible to access information related to the hydrologic cycle through remote sensing, which provides a continuous monitoring of variables over very large areas where the weather stations are sparse. The present thesis aimed to explore the possibility of using NDVI as a potential drought indicator by studying anomaly patterns and correlations with other two climate variables, LST and precipitation. The study covered the growing season (March to September) of a fifteen year period, between 2000 and 2014, for Bayankhongor province in southwest Mongolia. The datasets used were MODIS NDVI, LST and TRMM Precipitation, which processing and analysis was supported by QGIS software and Python programming language. Monthly anomaly correlations between NDVI-LST and NDVI-Precipitation were generated as well as temporal correlations for the growing season for known drought years (2001, 2002 and 2009). The results show that the three variables follow a seasonal pattern expected for a northern hemisphere region, with occurrence of the rainy season in the summer months. The values of both NDVI and precipitation are remarkably low while LST values are high, which is explained by the region’s climate and ecosystems. The NDVI average, generally, reached higher values with high precipitation values and low LST values. The year of 2001 was the driest year of the time-series, while 2003 was the wet year with healthier vegetation. Monthly correlations registered weak results with low significance, with exception of NDVI-LST and NDVI-Precipitation correlations for June, July and August of 2002. The temporal correlations for the growing season also revealed weak results. The overall relationship between the variables anomalies showed weak correlation results with low significance, which suggests that an accurate answer for predicting drought using the relation between NDVI, LST and Precipitation cannot be given. Additional research should take place in order to achieve more conclusive results. However the NDVI anomaly images show that NDVI is a suitable drought index for Bayankhongor province.