Estratigrafia e interpretação paleogeográfica do Cenozóico continental do norte de Portugal

Palaeogeographic and tectono-sedimentary interpretation of northern Portugal, in which previous studies (geomorphology, lithostratigraphy, mineralogy, sedimentology, palaeontology, etc.) were considered, is here proposed. Cenozoic shows different features according to its morphotectonic setting in the eestern region (Trás-os-Montes) or near to the Atlantic coast (western region, Minho and Douro Litoral areas). Although in the eastern region the sedimentary record is considered late Neogene, in some places Paleogene (?) was identified. This oldest record, represented by alluvial deposits, was preserved from complete erosion because of its position inside Bragança-Vilariça-Manteigas fault zone grabens. Later sedimentary episodes (upper Tortonian-Zanclean ?), represented by two allostratigraphical units, were interpreted as proximal fluvial braided systems of an endorheic hydrographic network, draining to the Spanish Duero Basin (eastwards); nowadays, they still remained in tectonic depressions and incised-valleys. Later on, eastern sedimentation becomes scarcer because Atlantic fluvial systems (e.g. the pre-Douro), successively, captured previous endorheic drainages. The proximal reaches of the allostratigraphic unit considered Placencian is recorded in Mirandela (western Trás-os-Montes) but the following fluvial episode (Gelasian-early Pleistocene ?) was already documented in east Trás-os-Montes, preserved in high platforms and in tectonic depressions. Placencian and Quaternary sedimentary records in the western coastal zone, mainly represented by terraces, are located in the Minho, Lima, Alverães, Cávado and Ave large fluvial valleys and in the Oporto littoral platform. In conclusion, northern Portugal Tertiary sedimentary episodes were mainly controlled by tectonics, but later on (Placencian-Quaternary) also by eustasy.

Internationalization of UniPlaces to the Spanish market: Internationalization plan to Madrid, Spain

Field Lab in Entrepreneurial Innovative Ventures

Comparative analysis of Spanish Banks’ Standalone credit profile

The paper studies the relationship between four differently rated bank’s financial profile and their standalone credit rating issued by Moody’s. The comparative analysis shows an example that despite their pricing power and geographical coverage, larger banks do not necessarily have better credit ratings. Instead, business model and risk appetite seem to be the defining factors of banks’ vulnerability to shocks, such as the Spanish real estate crisis. The risk-return relationship is also identified in the banks’ fundamentals meaning that while expansionary strategy in riskier asset classes enhances margins, it also potentially distorts the credit risk profile.