Introducing risk parity on momentum and carry portfolios

The momentum and carry anomalies have been extensively documented in the literature. However, there are still many issues relating to the risks associated to them that are left unexplained. One is the fact that an investor holds for too long the most volatile assets, both under momentum and carry strategies. Therefore, they present a level of risk and a probability of extreme events to happen inconsistent. This work project hypothesizes and proves the introduction of risk parity rules on the weights of the portfolios do increase risk rewarding of carry strategies. However, it fails under momentum strategies.

An essay on agile project management practices

The main goals for the current dissertation is to research on how practices and concepts from Agile Project Management can be applied in a non-IT context and to discover which aspects should be considered when deciding if whether an Agile approach should be implemented or not. Previous studies reflect on the adoption for the identified context. However, the recognition of these practices and concepts by the Project Management field of studies still remains unresolved. The adoption of Agile Project Management emerges as a manifestation against traditional approaches, mainly due to their inability of accepting requirements’ changes. Therefore, these practices and concepts can be considered in order to reduce the risks concerning the increase of competition and innovation – which does not apply to the IT sector solely. The current study reviews the literature on Agile Project Management and its adoption across different sectors in order to assess which practices and concepts can be applied on a non-IT context. Nine different methods are reviewed, where two of these show a higher relevance – Scrum and Extreme Programming. The identified practices and concepts can be separated into four different groups: Cultural and Organizational Structures, Process, Practices, and Artefacts. A framework based on the work by Boehm & Turner in 2004 is developed in order to support the decision of adopting agile methods. A survey intended for project managers was carried in order to assess the implementation of the identified practices and concepts and to evaluate which variables have the highest importance on the developed decision support framework. It is concluded that New Product Development is the project type with the highest potential to implement an agile approach and that the Project Final Product’s Innovativeness, Competitiveness, and the Project Member’s Experience and Autonomy are the most important aspects to consider an implementation of an Agile approach.

Portuguese strengths and fragilities on safety and health practices

Despite improvements over the years, accidents continue to be a scourge in the construction sector, leading to an increase in the number of journal articles addressing the issue, in an attempt to help construction industry to increase safety performance [1]. This paper aims to, helping construction industry and particulary tunneling community, describe the Portuguese approach to most typical health and safety problems in underground excavations performed with the Sequential Excavation Method (SEM). The article will address various topics, from safety management and organizational practices, to collective and personal protection equipment, to emergency planning. nt problems in safety and health matters are similar to several other countries, the paper will expose a compilation of Portuguese best practices used to solve that problems. This enunciation of best practices describes experience from most important and recognized Project Owners and Contractors in Portugal. In a second phase it will be analysed Portuguese weaknesses, identifying preventive measures, and their comparative importance, that should be adopted in Portugal in order to reduce accidents and health diseases.

Perchlorate and chlorate reduction by the Crenarchaeon Aeropyrum pernix and two thermophilic Firmicutes

This study reports the ability of one hyperthermophile and two thermophilic microorganisms to grow anaerobically by the reduction of chlorate and perchlorate. Physiological, genomic and proteome analyses suggest that the Crenarchaeon Aeropyrum pernix reduces perchlorate with a periplasmic enzyme related to nitrate reductases, but that it lacks a functional chlorite-disproportionating enzyme (Cld) to complete the pathway. A. pernix, previously described as a strictly aerobic microorganism, seems to rely on the chemical reactivity of reduced sulfur compounds with chlorite, a mechanism previously reported for perchlorate-reducing Archaeoglobus fulgidus. The chemical oxidation of thiosulfate (in excessive amounts present in the medium) and the reduction of chlorite result in the release of sulfate and chloride, which are the products of a biotic-abiotic perchlorate reduction pathway in A. pernix. The apparent absence of Cld in two other perchlorate-reducing microorganisms, Carboxydothermus hydrogenoformans and Moorella glycerini strain NMP, and their dependence on sulfide for perchlorate reduction is consistent with observations made on A. fulgidus. Our findings suggest that microbial perchlorate reduction at high temperature differs notably from the physiology of perchlorate- and chlorate-reducing mesophiles and that it is characterized by the lack of a chlorite dismutase and is enabled by a combination of biotic and abiotic reactions.

Pathways and bioenergetics of anaerobic carbon monoxide fermentation

Carbon monoxide can act as a substrate for different modes of fermentative anaerobic metabolism. The trait of utilizing CO is spread among a diverse group of microorganisms, including members of bacteria as well as archaea. Over the last decade this metabolism has gained interest due to the potential of converting CO-rich gas, such as synthesis gas, into bio-based products. Three main types of fermentative CO metabolism can be distinguished: hydrogenogenesis, methanogenesis, and acetogenesis, generating hydrogen, methane and acetate, respectively. Here, we review the current knowledge on these three variants of microbial CO metabolism with an emphasis on the potential enzymatic routes and bio-energetics involved.

Hand gesture recognition system based in computer vision and machine learning: Applications on human-machine interaction

Tese de Doutoramento em Engenharia de Eletrónica e de Computadores

Microbial respiration with chlorine oxyanions: diversity and physiological and biochemical properties of chlorate- and perchlorate-reducing microorganisms

Chlorine oxyanions are valuable electron acceptors for microorganisms. Recent findings have shed light on the natural formation of chlorine oxyanions in the environment. These suggest a permanent introduction of respective compounds on Earth, long before their anthropogenic manufacture. Microorganisms that are able to grow by the reduction of chlorate and perchlorate are affiliated with phylogenetically diverse lineages, spanning from the Proteobacteria to the Firmicutes and archaeal microorganisms. Microbial reduction of chlorine oxyanions can be found in diverse environments and different environmental conditions (temperature, salinities, pH). It commonly involves the enzymes perchlorate reductase (Pcr) or chlorate reductase (Clr) and chlorite dismutase (Cld). Horizontal gene transfer seems to play an important role for the acquisition of functional genes. Novel and efficient Clds were isolated from microorganisms incapable of growing on chlorine oxyanions. Archaea seem to use a periplasmic Nar-type reductase (pNar) for perchlorate reduction and lack a functional Cld. Chlorite is possibly eliminated by alternative (abiotic) reactions. This was already demonstrated for Archaeoglobus fulgidus, which uses reduced sulfur compounds to detoxify chlorite. A broad biochemical diversity of the trait, its environmental dispersal, and the occurrence of relevant enzymes in diverse lineages may indicate early adaptations of life toward chlorine oxyanions on Earth.

Production of medium-chain fatty acids and higher alcohols by a synthetic co-culture grown on carbon monoxide or syngas

Synthesis gas, a mixture of CO, H2, and CO2, is a promising renewable feedstock for bio-based production of organic chemicals. Production of medium-chain fatty acids can be performed via chain elongation, utilizing acetate and ethanol as main substrates. Acetate and ethanol are main products of syngas fermentation by acetogens. Therefore, syngas can be indirectly used as a substrate for the chain elongation process.

Vermiculite bio-barriers for Cu and Zn remediation: an eco-friendly approach for freshwater and sediments protection

The increase in heavy metal contamination in freshwater systems causes serious environmental problems in most industrialized countries, and the effort to find ecofriendly techniques for reducing water and sediment contamination is fundamental for environmental protection. Permeable barriers made of natural clays can be used as low-cost and eco-friendly materials for adsorbing heavy metals from water solution and thus reducing the sediment contamination. This study discusses the application of permeable barriers made of vermiculite clay for heavy metals remediation at the interface between water and sediments and investigates the possibility to increase their efficiency by loading the vermiculite surface with a microbial biofilm of Pseudomonas putida, which is well known to be a heavy metal accumulator. Some batch assays were performed to verify the uptake capacity of two systems and their adsorption kinetics, and the results indicated that the vermiculite bio-barrier system had a higher removal capacity than the vermiculite barrier (?34.4 and 22.8 % for Cu and Zn, respectively). Moreover, the presence of P. putida biofilm strongly contributed to fasten the kinetics of metals adsorption onto vermiculite sheets. In open-system conditions, the presence of a vermiculite barrier at the interface between water and sediment could reduce the sediment contamination up to 20 and 23 % for Cu and Zn, respectively, highlighting the efficiency of these eco-friendly materials for environmental applications. Nevertheless, the contribution of microbial biofilm in open-system setup should be optimized, and some important considerations about biofilm attachment in a continuous-flow system have been discussed.

From perfect strangers to research partners: a study of relationships, resource sharing and perceived benefits within R&D cooperation networks

Doctoral thesis in Marketing and Strategy.

Language knowledge and earnings in Catalonia

This paper investigates the economic value of Catalan knowledge for national and foreign first- and second-generation immigrants in Catalonia. Specifically, drawing on data from the “Survey on Living Conditions and Habits of the Catalan Population (2006)”, we want to quantify the expected earnings differential between individuals who are proficient in Catalan and those who are not, taking into account the potential endogeneity between knowledge of Catalan and earnings. The results indicate the existence of a positive return to knowledge of Catalan, with a 7.5% increase in earnings estimated by OLS; however, when we account for the presence of endogeneity, monthly earnings are around 18% higher for individuals who are able to speak and write Catalan. However, we also find that language and education are complementary inputs for generating earnings in Catalonia, given that knowledge of Catalan increases monthly earnings only for more educated individuals.

Activem la filosofia del llenguatge

En el projecte de millora de la qualitat docent “Activem al filosofia del llenguatge” hi han participat 11 professors i professores de la Universitat de Barcelona, la Universitat Autònoma de Barcelona, la Universitat de Girona i la Universitat Rovira i Virgili. Aquest grup de docents constitueixen la pràctica totalitat del professors que imparteixen regularment matèries de filosofia del llenguatge en les universitats catalanes. Aquest projecte ha consistit en dissenyar, elaborar i aplicar diferents eines que tenen per objectiu ajudar als alumnes a passar d’una actitud passiva de receptors de classes, a una actitud activa vers els continguts dels cursos troncals de filosofia del llenguatge. La contribució al canvi d’actitud del “rebre” al “fer” s’ha buscat amb la combinació de diferents propostes: la selecció de textos clàssics breus, importants i clars que els estudiants tenien que llegir i rellegir amb deteniment relacionats amb cadascun dels temes tractats en el curs i, vinculat a això, l’elaboració de “preguntes per a guiar la lectura” que ajuden als estudiants a centrar la atenció en els aspectes més pertinents i importants de cadascun d’aquests textos, l’elaboració de dossiers electrònics vinculats a cadascun dels diferents temes que es tracten en aquests cursos, l’elaboració per a cadascun dels temes de diferents exercicis i “preguntes de discussió”, la creació d’un fòrum de discussió electrònic, i la celebració de “jornades de debat” que es centraven en algunes de les “preguntes de discussió”. Hem pogut constatar la necessitat de trobar en el futur maneres d’aplicar les diferents eines que hem dissenyat de forma que els estudiants facin ús de forma encara més general d’aquestes eines.

IPH response to the Joint Committee on Health and Children and members of the Northern Ireland Assembly on “Cross-border cooperation on healthcare”

The Institute of Public Health in Ireland were asked to submit a paper on 'Cross-border cooperation on healthcare' for a joint meeting between the Oireachtas Joint Committee on Health and Children and the Northern Ireland Assembly Health Committee which took place in Leinster House on 1 March 2012. Key points from the submission included: o    The Institute of Public Health in Ireland (IPH) is an all-island organisation which promotes cooperation between the Republic of Ireland and Northern Ireland with the aim of improving population health on the island and tackling health inequalities. IPH work is focused on addressing the causes of ill health rather than the design and delivery of treatment services. o    North/South cooperation on health was mandated under the Belfast Agreement in 1998 in five domains, including health promotion. IPH has supported the North South Ministerial Council (NSMC) in respect of the health promotion strand since inception. o    The Department of Health and Department of Health, Social Services and Public Safety North-South Feasibility Study (December 2011) states that mutual benefits are most evident from cooperation in the areas of (i) anticipating trends and illnesses in a collective manner (ii) public health issues (iii) specialised services where the population or activity required to sustain the service cannot be met by either jurisdiction alone and (iv) in relation to those areas adjacent to the border. o    The European Directive on Cross-Border Healthcare will be implemented in the next few years which will have implications in relation to patients travelling for healthcare across the Republic of Ireland/Northern Ireland border. o    IPH is supporting the development of new public health strategies in the Republic of Ireland and Northern Ireland which are both due for publication this year. o    There are tangible benefits from cross-border cooperation in the health sector, both in public health and in health service planning and delivery and there are many examples of successful initiatives. However, developments are not occurring in the context of an agreed plan or overall strategic context and tend to be project-based and concentrated in border counties. o    Successful cross-border cooperation requires high level support and integration into departmental policy cycles. The provision of data on an all-island basis supports cross-border cooperation as does the operation of sustainable all-island organisations which can support research, evaluations and programmes. o    In the future, cross-border cooperation in health will be more effective if developed with a strategic planning process intrinsically linked to Departmental priorities. o    North-South cooperation in the areas of alcohol, obesity, tobacco health surveys and rare diseases will be particularly beneficial.

Health Inequalities across Northern France and South East England

The aim of the project was to analyse available data from routine sources and local health surveys to compare health and health-related behaviour in the populations of South East England and North France focusing particularly on health inequalities and social cohesion. The project compared the availability and accessibility of health-related programmes in each country.

Summary Interim Report on Findings and Interim Themes from Phase 1 of the review of Allied Health Professions (AHP) support for children/young people with a statement of special educational needs (SEN)

Summary Interim Report on Findings and Interim Themes from Phase 1 of the review of Allied Health Professions (AHP) support for children/young people with a statement of special educational needs (SEN)This interim report is outlining the service principles agreed by the Project Board and the themes identified throughout engagement and information gathering.