The effect on the performance of listed family and non-family firms

Purpose: The purpose of this paper is to examine whether the ownership of public firms is related to accounting and market performance, comparing family and non-family listed firms. Design/methodology/approach: We use regression analysis, considering a sample of Portuguese family and non-family firms for the period between 1999 and 2010. Findings: Overall, the results show that family firms are older, are more indebted and have higher debt costs than non-family firms. However, they present lower levels of risk. The evidence suggests that family firms outperform non-family firms when we consider a market performance measure. The market performance of family-controlled firms is more sensitive to the crisis periods and age, compared to their counterparts. The empirical findings suggest that under economic adversity, the performance is especially compromised by the firms’ age. Research limitations/implications: A limitation of this study is the small size of the sample, which derives from the small size of the Portuguese stock market, the Euronext Lisbon. Originality/value: This paper offers some insights on the ownership of public firms and firm performance by investigating a small European economy. The study also contributes to the stream of firm performance, considering new independent variables as determinants of firm performance, such as operational risk. Finally, the study examines the interaction between ownership and performance under both steady and adverse economic conditions, giving the opportunity to analyze whether firm performance differs according to market conditions.

Career and work-family relationship among academics : An exploratory study

Despite the increase, in recent years, of women’s participation in the labour market, sex discrimination remains a reality in most work organisations. In this matter, academic organisations are no exception. Evidence of sex inequalities is well documented in the literature. At the individual level, inequalities are partly explained by family responsibilities mainly held by women. Having to spend a considerable amount of time in home and children related activities women are left with less time available for scientific work than their male colleagues. With the purpose of understanding how academics experience the relationship between work and family, 32 in-depth interviews were conducted among Portuguese academics of both sexes in one particular university. The findings confirmed that work-family conflict is stronger among female faculty than among their male counterparts. Additionally, the prejudice against maternity and the way it is compatible with a successful career appears to survive the new gender relations. Difficulties felt by female academics could be minimised by the introduction of «family-friendly» policies and the development of a positive organisational climate towards maternity and family issues.

An update on the genera Longidorus , Paralongidorus and Xiphinema (Family Longidoridae) in Portugal

The tribe Longidorini within the subfamily Longidorinae (Longidorus spp. and Paralongidorus spp.) and the subfamily Xiphineminae (Xiphinema spp.) are two large nematode groups with about 260 and 230 known species, respectively. They are globally two important groups of ectoparasitic nematodes considered to be major pests because of their activity as vectors of important plant nepovirus, with some species included in the list of quarantine pathogenic organisms in many European countries. Knowledge of the biodiversity and occurrence of this nematode group is a prerequisite for the establishment of sound management strategies and control measures. According to data collected from the databases (such as EPPO, FSTA, and Web of Science) and published in specialised literature, a total of 15 Longidorus, 1 Paralongidorus and 40 Xiphinema species have been recorded as present in Portugal. However, the taxonomic status of some species is controversial, and thus needs to be clarified. A comprehensive review for unravelling the biodiversity and occurrence of nematode species of the genus Longidorus, Paralongidorus and Xiphinema in Portugal is herein provided. This review includes an updated checklist of species with information on the localities, host plants and geographical distribution. Additionally, maps on the species distributions of Longidorinae and Xiphineminae nematodes present in Continental Portugal and the Portuguese Macaronesian islands are provided, as well as unpublished data on authors and comments on the current taxonomic status. Finally, new insights and directions for future research on Longidoridae in Portugal are presented.

Pyrolysis-Gas Chromatography/Mass Spectrometry of Soil Organic Matter Extracted from a Brazilian Mangrove and Spanish Salt Marshes

The soil organic matter (SOM) extracted under different vegetation types from a Brazilian mangrove (Pai Matos Island, Sao Paulo State) and from three Spanish salt marshes (Betanzos Ria and Corrubedo Natural Parks, Galicia, and the Albufera Natural Park, Valencia) was investigated by pyrolysis-gas chromatography/mass spectrometry (Py-GC/MS). The chemical variation was larger in SOM from the Spanish marshes than in the SOM of the Brazilian mangroves, possibly because the marshes included sites with both tidal and nontidal variation, whereas the mangrove forest underwent just tidal variation. Thus, plant-derived organic matter was better preserved under permanently anoxic environments. Moreover, given the low number of studied profiles and sedimentary-vegetation sequences in both areas, depth trends remain unclear. The chemical data also allow distinction between the contributions of woody and nonwoody vegetation inputs. Soil organic matter decomposition was found to cause: (i) a decrease in lignin contents and a relative increase in aliphatics; (ii) an increase in short-chain aliphatics at the expense of longer ones; (iii) a loss of odd-over-even dominance in alkanes and alkenes; and (iv) an increase in microbial products, including proteins, sterols, short-chain fatty acids, and alkanes. Pyrolysis-gas chromatography/mass spectrometry is a useful tool to study the behavior and composition of SOM in wetland environments such as mangroves and salt marshes. Additional profiles need to be studied for each vegetation type, however, to improve the interpretability of the chemical data.

Translation to Portuguese and Validation of the Douleur Neuropathique 4 Questionnaire

The Douleur Neuropathique 4 (DN4) questionnaire was developed by the French Neuropathic Pain Group and is a simple and objective tool, with the ability to distinguish nociceptive from neuropathic pain. The purpose of this work was to validate the DN4 questionnaire in the Portuguese language in order to allow its use in clinical and research settings. A double-blind, accuracy study was conducted, consisting of translation, back-translation, literal evaluation, semantic equivalence, and communication with the target population. The Portuguese version of the questionnaire was applied in a sample of 101 patients with neuropathic (N = 42) or nociceptive pain (N = 59), ranked according to medical diagnosis. The reproducibility, reliability and validity of the instrument were analyzed, and showed a high diagnostic power for this version of the DN4 questionnaire. The Portuguese version of the DN4 questionnaire presented good validity and reliability, allowing it to identify neuropathic pain and neuropathic characteristics of mixed pain syndromes. Perspective: This article presents the first validated neuropathic pain questionnaire in the Portuguese language and represents a useful tool in the assessment of neuropathic pain both in the clinical setting and in population-based studies. The sensible and quick format of this instrument are key factors that will contribute to its widespread use, permitting a true recognition of patients with neuropathic pain. (C) 2010 by the American Pain Society

VKORC1 polymorphisms in Brazilians: comparison with the Portuguese and Portuguese-speaking Africans and pharmacogenetic implications

Aims: The heterogeneity of the Brazilian population renders the extrapolation of pharmacogenomic data derived from well-defined ethnic groups inappropriate. We investigated the influence of self-reported `race/color`, geographical origin and genetic ancestry on the distribution of four VKORC1 SNPs and haplotypes in Brazilians. Comparative data were obtained from two major ancestral roots of Brazilians: Portuguese and Africans from former Portuguese colonies. Materials & methods: A total of 1037 healthy adults Brazilians, recruited at four different geographical regions and self identified as white, brown or black (race/color categories), 89 Portuguese and 216 Africans from Angola and Mozambique were genotyped for the VKORC1 3673G>A (rs9923231), 5808T>G (rs2884737), 6853G>C (rs8050894) and 9041G>A (rs7294) polymorphisms using TaqMan (R) (Applied Biosystems, CA, USA) assays. VKORC1 haplotypes were statistically inferred using the haplo.stats software. We inferred the statistical association between the distribution of the VKORC1 polymorphisms among Brazilians and self-reported color, geographical region and genetic ancestry by fitting multinomial log linear models via neural networks. Individual proportions of European and African ancestry were used to assess the impact of genetic admixture on the frequency distribution of VKORC1 polymorphisms among Brazilians, and for the comparison of Brazilians with Portuguese and Africans. Results: The frequency distribution of the 3673G>A and 5808T>G polymorphisms, and VKORC1 haplotypes among Brazilians varies across geographical regions, within self-reported color categories and according to the individual proportions of European and African genetic ancestry. Notably, the frequency of the warfarin sensitive VKORC1 3673A allele and the distribution of VKORC1 haplotypes varied continuously as the individual proportion of European ancestry increased in the entire cohort, independently of race/color categorization and geographical origin. Brazilians with more than 80% African ancestry differ significantly from Angolans and Mozambicans in frequency of the 3673G>A, 5808T>G and 6853G>C polymorphisms and haplotype distribution, whereas no such differences are observed between Brazilians with more than 90% European ancestry and Portuguese individuals. Conclusion: The diversity of the Brazilian population, evident in the distribution of VKORC1 polymorphisms, must be taken into account in the design of pharmacogenetic clinical trials and dealt with as a continuous variable. Warfarin dosing algorithms that include `race` terms defined for other populations are clearly not applicable to the heterogeneous and extensively admixed Brazilian population.

Motivations to visit and image destination of Guimarães: differences between Portuguese and foreign tourists during 2012 Guimarães European Capital of Culture (ECOC)

Guimarães hosted the European Capital of Culture (ECOC) during the year of 2012. This study investigates the differences between Portuguese and foreign tourists regarding the main motivations to visit Guimarães and the retained perceived image of the destination. To achieve that purpose a survey was administered to 390 tourists that visited the city during the cultural event. The results show that tourists who visited Guimarães are relatively young, wealthy, employed and well educated. They are touring around the northern part of the country which includes an itinerary beginning in Porto, and extended to other important neighboring cities such as Braga or Viana do Castelo. The main motivations to visit the city, for both Portuguese and foreign tourists, are its historical heritage and the title of ECOC, the associated cultural events and celebrations that take place during 2012. However, these items were more valued by foreigners than Portuguese tourists. Using a factor analysis the tourists’ perceived attributes of Guimarães were described in four dimensions: “material heritage”, “intangible heritage”, “cultural performance”, and “sport and education”. Although foreigners and nationals perceived the tourism attributes of the city differently, the comparison of the mean scores of the four factors across Portuguese and foreigner tourists reveals that the most valued and least valued factors are common to both groups.

COMPARATIVE ANALYSIS OF AMERICAN AND SPANISH CRUISE PASSENGERS' BEHAVIORAL INTENTIONS

ABSTRACT Earlier studies of cross-national differences in consumer behavior in different consumption sectors have verified that cultural differences have a strong influence on consumers. Despite the importance of cross-national analysis, no studies in the literature examine the moderating effects of nationality on the construction of behavioral intentions and their antecedents among cruise line passengers. This study investigates the moderating effects of nationality on the relationships between perceived value, satisfaction, trust and behavioral intentions among Spanish and (U.S.) American passengers of cruise lines that use Barcelona as home port and port-of-call. A theoretical model was tested with a total of 968 surveys. Structural equation models (SEMs) were used, by means of a multigroup analysis. Results of this study indicated that Spaniards showed stronger relationships between trust and behavioral intentions, and between emotional value and satisfaction. Americans presented stronger relationships between service quality and satisfaction, and between service quality and behavioral intentions.

Geometric picture of generalized-CP and Higgs-family transformations in the two-Higgs-doublet model

In the two-Higgs-doublet model (THDM), generalized-CP transformations (phi(i) -> X-ij phi(*)(j) where X is unitary) and unitary Higgs-family transformations (phi(i) -> U-ij phi(j)) have recently been examined in a series of papers. In terms of gauge-invariant bilinear functions of the Higgs fields phi(i), the Higgs-family transformations and the generalized-CP transformations possess a simple geometric description. Namely, these transformations correspond in the space of scalar-field bilinears to proper and improper rotations, respectively. In this formalism, recent results relating generalized CP transformations with Higgs-family transformations have a clear geometric interpretation. We will review what is known regarding THDM symmetries, as well as derive new results concerning those symmetries, namely how they can be interpreted geometrically as applications of several CP transformations.

Entrepreneurship Strategies in a Portuguese and in a Polish Region

In the present paper we will consider strategies of innovation, risk and proactivity as entre/ intrapreneurship strategies. This study was done in a Portuguese and in a Polish region. In Portugal the region was Vale do Sousa, located in the northern Portugal. The Polish region was Lublin Voivodeship and it is situated in the south-eastern part of the country. The study focused on Industrial and Construction sectors. In order to get a valid sample, a group of 251 firms were analysed in Portugal, and 215 in Poland. However, the minimum sample size in Poland should be 323. Since this is a work in progress, we are aiming for this number of questionnaires. Each strategy was analysed individually for both regions and the results pointed to a lack of culture of entrepreneurship in firms’ management. Only Proactivity presented a positive result in firms’ management. Polish firms tend to be more innovative and more risk takers, while in proactivity Portuguese ones present a slightly higher result. Combining the strategy results, it was possible to identify that 61.2% of Portuguese firms present a low level of entrepreneurship, while 60% of Polish firms present a moderate level. Considering intrapreneurship good levels, while Portugal account for 5.2% this figure is 19.1% in Poland.