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.

How can packaging change children's eating habits from un-healthy food towards healthier options?

Field Lab: Children consumer behaviour

How to promote healthy eating habits in children

Childhood’s overweight and obesity are a worrying issue in the world nowadays. The purpose of this study was to provide contributions to the promotion of healthy food by analyzing the impact of physical activity, parents’ influence and home meals frequency on children’s food choices. Structured questionnaires were used and were answered by 172 children between 10 and 14 years old and by their respective parents. Children and parents preferred healthy food vs. non-healthy food presenting the children’s healthy food choices a mean of 4.26 and the parent’s healthy food choices a mean of 4.47 in a scale ranging from 0 to 6. Our results also show that physical activity, parent’s education and home meals frequency did not have an impact on children’s food choices, contrasting to the sedentary behavior and parents’ choices which had a negative and positive correlation, respectively, with children’s food choices. Taking these results into account and using them to advise parents and companies, we underline that parents must guarantee an adequate children’s nutrition after doing physical efforts and control the time children watch TV and play computer games and companies may create marketing campaigns and educational programs in order to promote healthy food, improve children’s eating habits and reduce the childhood obesity prevalence.

Assessment of medical courses in Brazil using student-completed questionnaires. Is it reliable?

INTRODUCTION: Debates about the quality of medical education have become more evident in the recent past, and as a result several different assessment methods have been refined for that purpose. The use of questionnaires filled out by medical students to assess the quality of lectures is one of the most common methods employed in our milieu. However, the reliability of this investigation method has not yet been systematically tested. The authors present the reliability of a specific form applied to the fourth grade medical students during the clinical psychiatry course. METHOD: Eighty-one fourth grade medical students were instructed to complete a form immediately after each clinical psychiatry lecture. Thirty-four students (42%) failed to turn in the forms after the final lecture. These students were given an identical form to assess the lectures in a retrospective fashion. The grades given by both groups of students for each performed lecture and the number of students who have graded an unperformed lecture were compared. Statistical significance for both groups was determined by means of the chi-square test (p< 0.05). RESULTS: Eighteen out of the 34 students who filled out the forms retrospectively (53%) rated the unperformed lecture, whereas only 5 out of the 47 students who filled out the forms during the course (11%) did so. This is statistically significant (p< 0.05). There was no statistical difference for the grades given to the lectures that were actually performed. DISCUSSION: The authors concluded the low reliability rate of the retrospective evaluation warrant a continuous assessment method during the course.

Use of licit and illicit drugs at the university of Alfenas

This paper reports the study of drug consumption carried out within the population of undergraduate students from 2 colleges of Alfenas, in the state of Minas Gerais state. Both licit and illicit drugs were studied, including alcohol, tobacco, marijuana, cocaine, heroin, crack, inhalants, glue, tranquilizers, stimulants, and others. METHODOLOGY: The research included a wide bibliographical search and the application of a questionnaire to approximately 23% of the students (total of 6500 students). RESULTS: A total of 1500 students participated in this investigation. The results demonstrated that there was a significant consumption of both licit and illicit drugs. The pattern of drug consumption in the research sample was similar to other investigations conducted in Brazil and in other countries. DISCUSSION: It was observed that 55% of the university students use drugs. However, the most surprising finding was that most of the students (88%) answered "yes" to the inquiry, "Have you already tried any type of drug, including alcohol and cigarettes?" The students revealed that they had taken drugs even prior to the admission to the university. The results suggest clearly that the university environment does not necessarily represent the starting point for student drug consumption.

In Search of the Origins of Modernism: Venice and the Crisis of Classical Architecture in the mid-eighteenth century

This paper attempts to prove that in the years 1735 to 1755 Venice was the birthplace and cradle of Modern architectural theory, generating a major crisis in classical architecture traditionally based on the Vitruvian assumption that it imitates early wooden structures in stone or in marble. According to its rationalist critics such as the Venetian Observant Franciscan friar and architectural theorist Carlo Lodoli (1690-1761) and his nineteenth-century followers, classical architecture is singularly deceptive and not true to the nature of materials, in other words, dishonest and fallacious. This questioning did not emanate from practising architects, but from Lodoli himself– a philosopher and educator of the Venetian patriciate – who had not been trained as an architect. The roots of this crisis lay in a new approach to architecture stemming from the new rationalist philosophy of the Enlightenment age with its emphasis on reason and universal criticism.

International placement analysis of the German business market for a Nova Achool of Business and Economics graduate student

Changes in today’s society led to the evolution of professional migrations and individual searches for more suitable professional opportunities and careers outside one’s countries. International Placement is nowadays one of the world’s biggest trends in higher education for the future ahead and an appealing demand of the Millennium generations. The following work project aims to study the German business market identifying the most attractive German companies and respective graduate programs for a Nova School of Business and Economics graduate student. The study’s conclusion relies on concrete strategic suggestions regarding the implementation of the results and practical use of the outcome provided.

How different generations contact and search for brands on social media? Comparing gen X and Y

This research intends to examine if there were significant differences on the brand engagement and on the electronic word of mouth (e-WOM)1 referral intention through Facebook between Generation X and Generation Y (also called millennials). Also, this study intends to examine if there are differences in the motivations that drive these generations to interact with brands through Facebook. Results indicated that Generation Y members consumed more content on Facebook brands’ pages than Generation X. Also, they were more likely to have an e-WOM referral intention as well as being more driven by brand affiliation and opportunity seeking. Finally, currently employed individuals were found to contribute with more content than students. This study fills the gap in the literature by addressing how marketing professionals should market their brand and interact and engage with their customers, based on customers’ generational cohort.

The tutor's role in student learning

Higher education in Portugal, in the last forty years, has undergone profound changes with the enlargement of public higher education network, the appearance of new institutions, the quantity and the heterogeneity of students. The implementation of the Bologna Process in European community countries led to the redesign of higher education Portuguese courses as well as their corresponding curricula. In recent years, the use of Project-led education was one of the most significant changes in teaching and learning, particularly in engineering in higher education in Portugal. This teaching methodology encourages students and teachers to undertake new roles, new responsibilities and a new learning perspective. This study aims at understanding whether the role of the tutor is to be suitable to the needs and expectations of Project-led education students. These changes however are not only structural. At the University of Minho, new teaching and learning methodologies were adopted, which could guide the training of professionals on to the twenty-first century. The opportunity arising from the implementation of Project-led education in Engineering methodology was used in the University of Minho’s courses. This teaching method is intended to provide students with educational support programs that benefit the academic performance, allowing the opportunity to upgrade, train and develop the ability to study and learn more effectively. Through the Project-led education it is possible to provide students with techniques and procedures and develop the ability to communicate orally and in writing. Students and teachers have assumed new roles in the teaching-learning process allowing in one hand the students to explore, discover and question themselves about some knowledge and on the other hand the teachers to change to a tutor, a companion and to a student project guide. Therefore, surveys were analyzed, comprising questions about the most significant contribution of the tutor as well as if there are some initial expectations that have not been foreseen by the tutor.

Quando ler se torna um prazer: contributo da promoção da leitura literária na infância

Relatório de estágio de mestrado em Educação Pré-Escolar e Ensino do 1º Ciclo do Ensino Básico

Assessing student individual performance within PBL teams: findings from the implementation of a new mechanism

This paper reports on the experience of the implementation of a new mechanism to assess individual student contribution within project work, where students work in teams to solve a large-scale open-ended interdisciplinary project. The study takes place at the University of Minho, with first year engineering students, enrolled in the Industrial Management and Engineering (Integrated Masters) degree. The aim of this paper is to describe the main principles and procedures underlying the assessment mechanism created and also provide some feedback from its first implementation, based on the students, lecturers and tutors perceptions. For data collection, a survey was sent to all course lecturers and tutors involved in the assessment process. Students also contributed with suggestions, both on a workshop held at the end of the project and also by answering a survey on the overall satisfaction with PBL experience. Findings show a positive level of acceptance of the new mechanism by the students and also by the lecturers and tutors. The study identified the need to clarify the criteria used by the lecturers and the exact role of the tutor, as well as the need for further improvement of its features and procedures. Some recommendations are also issued regarding technical aspects related to some of the steps of the procedures, as well as the need for greater support on the adjustment and final setting of the individual grades.

Estudo do mercado cosmético chinês

Relatório de estágio de mestrado em Estudos Interculturais Português / Chinês: Tradução, Formação e Comunicação Empresarial

Educação literária: a hora do conto no 1º ciclo do ensino básico

Relatório de estágio de mestrado em Educação Pré-Escolar e Ensino do 1º Ciclo do Ensino Básico

Changes in institutional governance and management of higher education in Laos: National University of Laos

PhD thesis in Educational Sciences (specialization in Politics of Education).