Evolução cenozóica da área de Longroiva-Vilariça (NE Portugal)

In the Longroiva-Vilariça area, the identification of Cenozoic lithostratigraphic units, the sedimentology and the characterization of its geometric relations with tectonic structures allowed the interpretation of the palaeogeographic main stages: 1) the greenwhitish Vilariça Arkoses (Middle Eocene to Oligocene ?) represent proximal sediments of a very low gradient drainage towards the eastern Spanish Tertiary Duero Basin; 2)Quintãs Formation (late Miocene ?) are brown-reddish coloured piedmont alluvial deposits, correlative of important vertical displacement (western tectonic block relative uplift) along the NNE-SSW indent-linked strike-slip Bragança-Vilariça-Longroiva fault zone, interpreted as a reactivated deep hercynian fracture, with left-lateral movement; 3) the red Sampaio Formation (Gelasian-early Pleistocene ?)was interpreted as downhill conglomeratic deposits related with important overtrusting along this fault zone (the definition of the present-day narrow graben configuration) and correlative of the atlantic hydrographic incision stage beginning; 4) conglomeratic terraces (middle and late Pleistocene ?); 5) alluvial plains and colluvial deposits (Holocene).

Litostratigrafia do Terciario da região Miranda do Corvo-Viseu (Bacia do Mondego, Portugal)

The lithostratigraphic units (2 groups, 5 formations and 4 members) of the Tertiary of the Miranda do Corvo-Viseu region (Central Portugal) are here described. For each unit the characterization and description (boundaries, diagnostic properties and atributes) were included. The stratigraphic, lithological, sequential and tectonic data allow correlations with other units of the same Tertiary basin located more to west and support the chronostratigraphic attribution. Sedimentologic characteristics of the deposits lead to the interpretation of the influence of tectonism, climate and eustasy during the sedimentary evolution of this Basin.

The Portuguese Administrative Elite, 1851-1910

The aim of this article is to examine the composition and patterns of recruitment of the ministries’directors-general, as well as to assess the interconnections between bureaucracy and politics, from the beginnings of Regeneração (1851) until the breakdown of Monarchy (1910). The post of director-general was considered one of “political trust”, that might be filled by individuals from outside the civil service, and the selection and de-selection of officeholders depended exclusively on the ministers’ will. Nonetheless, most directors-general were experienced bureaucrats, boasting a steady career as civil servants, and remained in office for long terms, regardless of ministerial discontinuities. In other words, High Administration became relatively immune to party-driven politics. Due to their professional background and lengthy tenure, directors-general were usually highly skilled specialists, combining technical expertise and practical knowledge of the wheels of state bureaucracy. Hence, they were often influential actors in policy-making, playing an active (and sometimes decisive) part behind the scenes, in both designing and implementing government policies. As regards their social profile, directors-general formed a cohesive and homogeneous elite group: being predominantly drawn from urban middle class milieus, highly educated, and appointed to office in their forties.

Descontinuidades culturais das bolseiras angolanas em Cuba nas décadas de 1970 a 1990

Com a necessidade urgente de formar a nova geração na aquisição de conhecimentos científicos, culturais, habilidades e valores, Angola com a sua forte relação com o governo cubano apostou na formação de quadros a longo prazo. Provenientes das 18 províncias de Angola, com idades muito tenras, enraizadas com as suas culturas de origem, jovens angolanas foram literalmente sujeitas a desvincular-se precocemente dos seus rituais, hábitos e costumes. O presente estudo tem como objetivo determinar as principais causas que levaram a uma decadência total ou parcial das descontinuidades culturais destas bolseiras angolanas em Cuba, num determinado período histórico (de 1970 a 1990). Pretende, ainda, trazer ao conhecimento público esta situação educacional específica através, não só de um conhecimento do contexto angolano da época, como da voz de quem o viveu. Com este trabalho pretendemos, assim, contribuir para uma reflexão sobre as questões da cultura e da importância da mesma na educação dos jovens.

Impact of Black-Scholes assumptions on Delta Hedging

In this work we are going to evaluate the different assumptions used in the Black- Scholes-Merton pricing model, namely log-normality of returns, continuous interest rates, inexistence of dividends and transaction costs, and the consequences of using them to hedge different options in real markets, where they often fail to verify. We are going to conduct a series of tests in simulated underlying price series, where alternatively each assumption will be violated and every option delta hedging profit and loss analysed. Ultimately we will monitor how the aggressiveness of an option payoff causes its hedging to be more vulnerable to profit and loss variations, caused by the referred assumptions.