The role of guarantees in pension plan design: Pension saving decisions

This study centers on the assessment of psychological value of guarantees in pension products and the behavior biases associated with choice. When a guarantee on a product increases from 99% to 99,5% less than half of respondents show willingness to pay in contrast with 73% when going from 99,5% to 100%. Out of 105 respondents, 55 show that their choices concerning pension products are inconsistent with classic utility theory. Financial background proves insignificant thus pointing to behavioral biases. As individuals make choices that leave them worse-off, we argue that pension plan design would highly benefit from public policy interventions.

O dever de obediência a ordens ilegais na Guarda Nacional Republicana

The Republican National Guard (GNR) is a military structure and hierarchical force where discipline and obedience is a serious matter, but at the same time, the scope of its activity relates to the protection of the rights, freedoms and guarantees of citizens and the primacy of public interest. While security force, GNR ensures democratic law, guarantee the internal security and the rights of citizens. The controversial issue that lies at the heart of this work its related with the balance between the hierarchy and the written law. The hierarchy, also established by law, with given powers, exist to apply the law. However, the rule of law has exceptions. Which institute to prioritize, hierarchy or the law. And within the law, its rules or the exceptions. Who decides? The GNR's officers have to obey the laws and regulations and comply with the accuracy and timeliness determinations, orders and instructions issued by a superior, given in terms of service, as long as does not involve the practice of crime. The GNR´s officer with command tasks exercises power of authority inherent in these functions, and the corresponding disciplinary authority, being responsible for acts by himself or by his order are practiced. Identify situations of exception to law enforcement, the situations in which one must obey illegal orders, is difficult and thankless, it requires conferred authority and raises the weight of responsibility for decisions and orders issued.

Produção de electricidade em Portugal

In the present work we intend to do an analysis of the production of electricity in special regime in Portugal. We will focus in particular in the remuneration system through the feed-in tariffs. First, we will excurse throughout different legal diplomas that regulated the special regime in Portugal, exploring which guarantees were conferred to electricity generators throughout the years. We intend to also evaluate how the producers remunerative rights were (or not) protected in the various legislative changes. In the second part of the dissertation we will examine whether the feed-in tariffs may be considered as State aid. Due to the inclusion of the subject in EU Law, we will analyze EU regulation and case law to support our position about the Portuguese regime. Finally, and to the extent that the production of electricity in special regime has undergone several changes to its remunerative regime in the last few years, we propose to analyze more carefully the amendments in question. We will scrutinize the reasons that based the amendments in question, which are mainly based on the economic crisis suffered by the country. We will also examine how those changes may jeopardize the remunerative rights of the producers.

Modeling and forecasting value-at-risk for the Portuguese stock market

The aim of this work project is to find a model that is able to accurately forecast the daily Value-at-Risk for PSI-20 Index, independently of the market conditions, in order to expand empirical literature for the Portuguese stock market. Hence, two subsamples, representing more and less volatile periods, were modeled through unconditional and conditional volatility models (because it is what drives returns). All models were evaluated through Kupiec’s and Christoffersen’s tests, by comparing forecasts with actual results. Using an out-of-sample of 204 observations, it was found that a GARCH(1,1) is an accurate model for our purposes.

O sigilo bancário e a fraude fiscal

Tax evasion and fraud threaten the economic and social objectives of modern tax systems, precluding the state funding for the satisfaction of collective needs and the fair distribution of wealth, being a violation of basic principles and values of our society. In tax law, to give tax administration the necessary powers to supervise and control the information provided by taxpayers and combat tax evasion and fraud, over the last years the grounds for a derogation of bank secrecy without judicial authorization have been extended, which raises some constitutional compatibility issues. Similarly, this tendency of making this legal regime more flexible and increasing automatic exchange of information has been followed by the European Union and the international community. Banking secrecy, as a professional secrecy, is an instrument to protect the right to privacy but also appears as an anti-abuse and repressive mechanism of evasive and fraudulent behaviors. Because of the conflict of interests will always be necessary to make a practical agreement between them, ensuring the legality and the due guarantees of the taxpayers but also an effective way to combat tax evasion and fraud. Bank secrecy cannot be one method to, behind the right to privacy, taxpayers practice illegal activities. But the practice of these irregular conducts also does not justify a total annihilation of the right to banking secrecy, uncovering all documents and bank information’s. Although considering the legislative changes, the administrative derogation of bank secrecy will always be what the tax administration does of it.

O processo sumário e a reforma do Código do Processo Penal de 2013

The present work aims to develop the theme "The summary procedure and the reform of 2013". The purpose of its analysis serves the interest to understand the virtues and disadvantages of the changes introduced by Act n.º 20/2013 to our Code of Criminal Procedure, and the main focus of the present reflection is to further the impact of the measures taken by the legislator to the summary proceedings. The opening of the most serious crimes to summary procedure is a reform measure duly highlighted because it is a true innovation in the Portuguese penal system. Therefore, it urges to analyse not only the consequences of this measure, as well as if the objectives of its introduction in the summary procedure system are met. It should be noted that the legislator intends to promote speedy trial, and at the same time, ensure compliance with the Constitutional rights associated to the accused. At this point it is important to realize if there is a restriction of the accused essential guarantees. On the other hand, it should be noted that the typical characteristics of summary proceedings might have been invariably modified, due to the innovative aspect of the reform. That said, the changes might have fostered a mischaracterization of the typical format of the summary procedure, both in terms of the nature of the proceedings and in terms of its space and objectives within the penal system. Reflecting on the above will provide a deeper understanding of the volatile balance between the Portuguese governing prosecution efficiency and the Constitution, as well as the future of the criminal policy in Portugal.

A protecção jurídica do consumidor em Angola

The scope of the present work is to study the legal protection conferred upon the consumer in Angola, especially as regards electronic communication agreements. Its purpose is to promote consumers’ rights and contribute to its defence given the relatively privileged position of professionals in their relationship with consumers. With this in mind, we have made a description of the Consumer Law in Angola based on the Angolan Constitution (as the law that establishes the fundamental rights and guarantees of citizens) and on the Consumer’s Defence Law, which, as the basic law regarding consumers’ rights, provides the framework for this dissertation. We have analysed several aspects relating to consumer relationships, starting from its concept and rights of consumers and covering the legal and contractual mechanisms put in place for their protection. We have also analysed the Advertising Law with a view to better understand consumer’s rights before advertising campaigns carried out by professionals whilst promoting their goods and services and, additionally, to understand the duties and principles that shall be complied with in such campaigns with the purpose to protect the rights and interests of consumers. From a criminal point of view, we have briefly covered the crimes against consumers provided for in the Penal Code and the Law of Infractions against the Economy. In the second part of this work, we have summarised the institutions that protect the rights and interests of consumers, which include the Public Prosecutor Office, the National Institute for the Defence of the Consumers and the Consumers’ Associations. The third and last part of this work covers electronic communications agreements. Given the fact that there is no specific legislation in this matter, our analysis was based on the Civil Code – specifically the part relating to contracts – the Law on General Contractual Terms and Conditions and the Consumer’s Defence Law. We have analysed the formation of contracts, compliance and consumers’ rights resulting from contract breach. We further have appealed to the Angolan legislator to legislate certain aspects of consumer relationships, especially those where breach of consumers’ rights are blatant and facilitated by the lack of specific laws addressing such cases.

Sistema de segurança interna : a unificação do sistema em Portugal

A aceleração do ritmo de mudança verificado nas sociedades atuais, tem sido impulsionado pela globalização, fenómeno decorrente da evolução das tecnologias da informação, das telecomunicações, das comunicações e transportes e do desaparecimento de fronteiras. Viver na “aldeia global” ou à escala global como o previu Marshall McLuhan (1964) no livro Understanding Media, é hoje uma realidade inquestionável. As consequências desta transformação foram múltiplas quer do ponto de vista dos benefícios, quer do ponto de vista dos problemas gerados. No plano da segurança, face ao multiculturalismo envolvido e ao aumento crescente do crime transfronteiriço, tornou-se essencial a partilha de informação a nível internacional tendo em vista o seu combate não só olhando a situação dos cidadãos como a defesa dos princípios democráticos. Realça-se que os progressos tecnológicos e as facilidades que criam aos seus utilizadores, neste caso os criminosos, fazem com que as ações por estes praticadas sejam cada vez mais meticulosas, imprevisíveis, sofisticadas e complexas o que impõe uma resposta correspondente e adequada. Por essa razão, as políticas de segurança existentes mostraram-se insuficientes e esgotadas requerendo novas respostas capazes de produzir os efeitos desejáveis para uma efetiva prevenção da criminalidade. Pelas dimensões que tem vindo a tomar, a criminalidade tornou-se uma preocupação que ultrapassou o domínio da segurança interna de cada país para ser encarada a nível internacional ou mesmo mundial. Para o efeito urge concertar processos e procedimentos securitários agregando vontades que convirjam e defendam a unificação dos sistemas dos países a nível mundial. A verificar-se tal intento, daí resultariam significativas melhorias da segurança a todos os níveis (nacional, internacional e mundial). Além disso também resultariam ganhos em termos de tempo, redução de custos, impacto na qualidade dos serviços prestados, na gestão das pessoas e na eficiência das organizações. Realça-se que a democracia ao promover a dignidade do homem densificando os seus direitos, liberdades e garantias, criou indiretamente condições para que fosse gerada instabilidade e o desenvolvimento de comportamentos criminosos. Importa, portanto, face à situação existente e à previsível complexidade do crime no futuro, estudar profundamente a nova realidade neste domínio, para tomar as medidas preventivas tendentes a reporem a estabilidade e a promoverem a paz social. Foi neste contexto que a presente investigação, desenvolvida no âmbito académico, mas também suportado na realidade profissional, pretendeu refletir sobre o estado da segurança global e dar o seu contributo nesta matéria.

The Mechanism of Centriole Inactivation in Starfish Oocytes

The centrosome is the major organizing center in a cell, composed by two centrioles, one mother and one daughter, and surrounded by a pericentriolar material, which nucleates microtubules. Centriole duplication and segregation is tightly coupled to cell cycle, which guarantees that centriole number is maintained over generations. During the somatic cell cycle, a pair of centrioles duplicates, after which each daughter cell receives a pair, forming a closed cycle. However, during fertilization, if both cells were to contribute with their pair of centrioles, gamete fusion would result in the double of the normal centriole number.(...)