A relação entre a performance ambiental e a performance financeira das empresas

This study examines the relationship between the environmental performance and the financial performance of Portuguese corporations, based on a sample of 35 stocks listed in the Euronext Lisbon stock exchange, for the period from 2000 to 2004. Corporate environmental performance is measured by an analysis of the environmental information disclosed in 2003 corporate annual financial reports. Stock market-based measures, such as return, risk and risk-adjusted return measures, are used to evaluate corporate financial performance, for the 5 years observation period. We use the portfolio studies and contingency tables methodology to evaluate the relationship between corporate environmental disclosures and corporate stock market performance. The empirical results suggest that companies that do not disclose environmental information have a superior financial performance – as measured by return, risk and risk-adjusted return – than those that disclose environmental information. In particular, companies with better environmental reporting, which disclose qualitative and quantitative environmental information, are the ones with worse financial performance. Nevertheless the differences found in financial performance are not statistically significant. The empirical results are thus adverse to the more recent view of environmental performance as a competitive advantage, maybe due to the still relatively small importance of environmental issues to companies and investors.

Role of the wider Azores region as a nursery ground for North Atlantic blue shark (Prionace glauca)

Tese de Doutoramento, Ciências do Mar (Ecologia Marinha)

Robustness of corroded reinforced concrete structures. A structural performance approach

Structure and Infrastructure Engineering, 1-17

Entrepreneurial Orientation, Intangible Assets and Firm Growth: the impact of ‘Spirit and Material’ on the growth of Chinese private firms

This paper has three contributions. First, it shows how field work within small firms in PR Chinese has provided new evidence which enables us to measure and calibrate Entrepreneurial Orientation (EO), as ‘spirit’, and Intangible Assets (IA), as ‘material’, for use in models of small firm growth. Second, it uses inter-item correlation analysis and both exploratory and confirmatory factor analysis to provide new measures of EO and IA, in index and in vector form, for use in econometric models of firm growth. Third, it estimates two new econometric models of small firm employment growth in PR China, under the null hypothesis of Gibrat’s Law, using our two new index-based and vector-based measures of EO and IA. Estimation is by OLS with adjustment for heteroscedasticity, and for sample selectivity. Broadly, it finds that EO attributes have had little significant impact on small firm growth, and indeed innovativeness and pro-activity paradoxically may even dampen growth. However, IA attributes have had a positive and significant impact on growth, with networking, and technological knowledge being of prime importance, and intellectual property and human capital being of lesser but still significant importance. In the light of these results, Gibrat’s Law is generalized, and Jovanovic’s learning theory is extended, to emphasise the importance of IA to growth. These findings cast new empirical light on the oft-quoted national slogan in PR China of “spirit and material”. So far as small firms are concerned, this paper suggests that their contribution to PR China’s remarkable economic growth is not so much attributable to the ‘spirit’ of enterprise (as suggested by propaganda) as, more prosaically, to the pursuit of the ‘material’.

Pathological substrates of cognitive decline in Alzheimer's disease

The progressive development of Alzheimer's disease (AD)-related lesions such as neurofibrillary tangles,amyloid deposits and synaptic loss within the cerebral cortex is a main event of brain aging.Recent neuropathologic studies strongly suggested that the clinical diagnosis of dementia depends more on the severity and topography of pathologic changes than on the presence of a qualitative marker. However, several methodological problems such as selection biases, case-control design,density-based measures, and masking effects of concomitant pathologies should be taken into account when interpreting these data. In last years, the use of stereologic counting permitted to define reliably the cognitive impact of AD lesions in the human brain. Unlike fibrillar amyloid deposits that are poorly or not related to the dementia severity, the use of this method documented that total neurofibrillary tangles and neuron numbers in the CA1 field are the best correlates of cognitive deterioration in brain aging. Loss of dendritic spines in neocortical but not hippocampal areas has a modest but independent contribution to dementia. In contrast, the importance of early dendritic and axonal tau-related pathologic changes such as neuropil threads remains doubtful. Despite these progresses, neuronal pathology and synaptic loss in cases with pure AD pathology cannot explain more than 50% of clinical severity. The present review discusses the complex structure/function relationships in brain aging and AD within the theoretical framework of the functional neuropathology of brain aging.

Reduction in catheter-related bloodstream infections in critically ill patients through a multiple system intervention.

Els catéters venosos centrals són necessaris per al maneig del pacient crític però poden ser l´origen d´una bacteriemia. Aquest estudi prospectiu de cohort té com a objectiu determinar la utilitat de l´aplicació d´unes mesures bàsiques de prevenció per disminuir la incidència de bacteriemia associada a catéter. Els resultats de l´estudi confirmen que l´aplicació d´aquest sistema d´intervenció múltiple basat en l´evidencia redueix de forma significativa les bacteriemies associades a catéter a la nostra UCI.

Good Practice Guides

This series of Good Practice Guides is designed to share important information about health inequalities and some of the evidence-based measures that can be taken to reduce the stark differences in health and wellbeing within populations. It is recognised that leadership and coordinated, effective action at a number of levels can reduce this gap. Ensuring concerted, evidence-based action on health and wellbeing inequalities demands the efforts of government, statutory organisations and the community, voluntary and private sectors. The Good Practice Guides were developed to inform and support joined-up working across these sectors. It is known that health inequalities are closely linked with degrees of social disadvantage and with the unequal distribution of power, income, goods and services. According to the World Health Organization, there are also powerful social and psychological factors and life circumstances that can serve to compound health and wellbeing inequalities. The topics included in the Good Practice Guide series reflect the wider determinants of health and the range of approaches necessary to reduce health inequalities. This first set of three guides is designed, in part, to test their usefulness. There are many other issues and areas where evidence of what works may be needed. It is envisaged that further guides will follow on other issues. All of the guides will be kept under review and amended in light of experience.

Reducing young people's drinking

This series of Good Practice Guides is designed to share important information about health inequalities and some of the evidence-based measures that can be taken to reduce the stark differences in health and wellbeing within populations. The conditions in which people are born, grow, live, work and age can lead to health inequalities the unfair and avoidable differences in health status. Actions to tackle health inequalities demand the efforts of government, statutory organisations, and community, voluntary and private sectors. This Good Practice Guide to reducing young people's drinking is one of a series designed to capture information about health inequalities and highlight evidence-based interventions and key actions for improvement across sectors.This resource was contributed by The National Documentation Centre on Drug Use.

Anti Bullying Procedures for Primary and Post Primary Schools

The role of the school is to provide an appropriate education for all its pupils. A stable, secure learning environment is an essential requirement to achieve this goal. Bullying behaviour, by its very nature, undermines and dilutes the quality of education. Research shows that bullying can have short and long-term effects on the physical and mental well-being of pupils, on engagement with school, on self-confidence and on the ability to pursue ambitions and interests. School-based bullying can be positively and firmly addressed through a range of school-based measures and strategies through which all members of the school community are enabled to act effectively in dealing with this behaviour. While it is recognised that home and societal factors play a substantial role both in the cause and in the prevention of bullying, the role of the school in preventative work is also crucial and should not be underestimated. School-based initiatives can either reinforce positive efforts or help counteract unsuccessful attempts of parents to change unacceptable behaviour. Parents and pupils have a particularly important role and responsibility in helping the school to prevent and address school-based bullying behaviour and to deal with any negative impact within school of bullying behaviour that occurs elsewhere. In this document, any reference(s) to parent(s) can be taken to refer also to guardian(s) where applicable.

Good Practice Guides

This series of Good Practice Guides is designed to share important information about health inequalities and some of the evidence-based measures that can be taken to reduce the stark differences in health and wellbeing within populations.

Reliable detection of directional couplings using rank statistics

To detect directional couplings from time series various measures based on distances in reconstructed state spaces were introduced. These measures can, however, be biased by asymmetries in the dynamics' structure, noise color, or noise level, which are ubiquitous in experimental signals. Using theoretical reasoning and results from model systems we identify the various sources of bias and show that most of them can be eliminated by an appropriate normalization. We furthermore diminish the remaining biases by introducing a measure based on ranks of distances. This rank-based measure outperforms existing distance-based measures concerning both sensitivity and specificity for directional couplings. Therefore, our findings are relevant for a reliable detection of directional couplings from experimental signals.

Subclinical hypothyroidism and functional mobility in older adults.

BACKGROUND: Health risks associated with subclinical hypothyroidism in older adults are unclear. Our objective was to compare the functional mobility of people aged 70 to 79 years by thyroid function categorized by thyrotropin (TSH) level as euthyroid (>or=0.4 to <4.5 mIU/L), mild subclinical hypothyroid (>or=4.5 to <7.0 mIU/L), or moderate subclinical hypothyroid (>or=7.0 to <or=20.0 mIU/L with a normal free thyroxine level) cross-sectionally and over 2 years. METHODS: A total of 2290 community-dwelling residents participating in the year 2 clinic visit (July 1998-June 1999) of the Health, Aging, and Body Composition (Health ABC) Study, who had measured TSH level, had the capacity to walk 20 m unaided, and were not taking thyroid medication or had TSH levels consistent with hyperthyroidism or hypothyroidism. Main outcome measures included self-reported and performance-based measures of mobility (usual and rapid gait speed and endurance walking ability) assessed at study baseline (year 2) and 2 years later. RESULTS: In age- and sex-adjusted analyses, the mild subclinical hypothyroid group (vs the euthyroid group) demonstrated better mobility (faster mean usual and rapid gait speed [1.20 vs 1.15 m/s and 1.65 vs 1.56 m/s, respectively; P < .001] and had a higher percentage of those with good cardiorespiratory fitness and reported walking ease [39.2% vs 28.0% and 44.7% vs 36.5%, respectively; P < .001]). After 2 years, persons with mild subclinical hypothyroidism experienced a similar decline as the euthyroid group but maintained their mobility advantage. Persons with moderate subclinical hypothyroidism had similar mobility and mobility decline as the euthyroid group. CONCLUSION: Generally, well-functioning 70- to 79-year-old individuals with subclinical hypothyroidism do not demonstrate increased risk of mobility problems, and those with mild elevations in TSH level show a slight functional advantage.

A Swiss neighbourhood index of socioeconomic position: Development and Association with Mortality

Background Area-based measures of socioeconomic position (SEP) suitable for epidemiological research are lacking in Switzerland. The authors developed the Swiss neighbourhood index of SEP (Swiss-SEP). Methods Neighbourhoods of 50 households with overlapping boundaries were defined using Census 2000 and road network data. Median rent per square metre, proportion households headed by a person with primary education or less, proportion headed by a person in manual or unskilled occupation and the mean number of persons per room were analysed in principle component analysis. The authors compared the index with independent income data and examined associations with mortality from 2001 to 2008. Results 1.27 million overlapping neighbourhoods were defined. Education, occupation and housing variables had loadings of 0.578, 0.570 and 0.362, respectively, and median rent had a loading of −0.459. Mean yearly equivalised income of households increased from SFr42 000 to SFr72 000 between deciles of neighbourhoods with lowest and highest SEP. Comparing deciles of neighbourhoods with lowest to highest SEP, the age- and sex-adjusted HR was 1.38 (95% CI 1.36 to 1.41) for all-cause mortality, 1.83 (95% CI 1.71 to 1.95) for lung cancer, 1.48 (95% CI 1.44 to 1.51) for cardiovascular diseases, 2.42 (95% CI 1.94 to 3.01) for traffic accidents, 0.93 (95% CI 0.85 to 1.02) for breast cancer and 0.86 (95% CI 0.78 to 0.95) for suicide. Conclusions Developed using a novel approach to define neighbourhoods, the Swiss-SEP index was strongly associated with household income and some causes of death. It will be useful for clinical- and population-based studies, where individual-level socioeconomic data are often missing, and to investigate the effects on health of the socioeconomic characteristics of a place.

Communicating Highway Safety: What Works, 2002

Few topics in transportation are of greater significance, now and in the future, than making today’s roads safe for those who use them. This study aims to assist the formulation of policy by examining the empirical evidence currently available on the ability of several forms of communication efforts and activities to increase knowledge about and affect attitudes and behavior toward highway safety practices. The objective of this effort is to provide a comparative synthesis of what works and what does not in highway safety campaigns across a large number of topical areas that have a mass media component. This was accomplished by conducting an extensive literature review to determine the current state of knowledge concerning what works and what has significant potential for wide use in future highway safety campaigns. An analytic framework for investigating highway safety campaigns was created. The framework includes (1) the types of media components, (2) the types of collaborations, (3) the context in which the campaign is intended to have impact, (4) the structure or procedural steps into which campaigns are organized, (5) the principles for what works in a campaign, and (6) the desired impact of a campaign on its target audience. The report reveals 25 characteristics of successful communication campaigns, strategies that stand a chance of achieving changes in knowledge, attitude, and behavior. The actual impact of mass communication remains unproven because of a perceived lag in the development of adequate evaluation techniques. Education by itself has not generally resulted in significant changes in the behaviors targeted, but education of the public and advocacy groups has often helped enact necessary legislation, transmit knowledge about the provisions and penalties of laws in ways that increase their deterrent effect, and generate public support for law enforcement programs. Even in such cases, however, when enforcement is inconsistent, public compliance frequently decreases with time. Approaches to traffic safety that emphasize the need for long-term individual- and community-based measures are found to be especially crucial for addressing complex problems like drinking and driving that are determined by a myriad of lifestyle and psychosocial factors.

IFRS and Asymmetrical Information: Empirical Evidence from the Finnish Stock Markets

Tutkimuksen tavoitteena on selvittää kansainvälisiin tilinpäätösstandardeihin siirtymisen vaikutuksia epäsymmetriseen informaatioon Suomen osake-markkinoilla. Suomalaisten tilinpäätöskäytäntöjen ja kansainvälisten standardien eroja on selvitetty ensin laadullisin menetelmin,jonka jälkeen on tehty asymmetrisen informaation markkinapohjaisiin mittareihinperustuva kvantitatiivinen tutkimus. Yleisiin eroavaisuuksiin liittyvän selvityksen lisäksi on tutkittu erikseen erityisesti standardimuutoksen vaikutusta älylliseen pääomaan liittyvään informaation asymmetriaan. Empiirisessä osiossa älyllisen pääoman epäsuoraksi mitaksi on valittu kehitys- ja tutkimusmenojen suhde taseen loppusummaan. Kuten oletus oli, sekä laadullisen että empiirisen osion tulokset viittaavat siihen, että IFRS:n myötä informaatioympäristö on parantunut. Uudet standardit vaativat laajempaa ja tarkempaa informaation julkaisua liittyen älylliseen pääomaan, mikä ei ole kuitenkaan havaittavissa valituissa mittareissa