The financial leverage of large Portuguese Firms in the European context

The Financial Leverage of Large Portuguese Firms in the European Context This paper studies the leverage, cost of debt servicing ability and structure of debt maturity of large Portuguese firms, over the pre-crisis (2006-2009) and post-crisis (2010-2013) periods through a comparative analysis with other European peers. We document that large Portuguese firms have been reducing their leverage since the end of 2009. We find that this decrease in leverage is not a consequence higher Equity levels but rather a result of asset’s downsizing. We also document that Portuguese firms are still more leveraged than their European peers, even though this difference has decreased over time. High corporate debt levels are transversal across industries.

The weilburg painting showing the lisbon entry of 1619 in its historical and pictorial context

This article deals with the splendid panoramic painting depicting the Joyeuse Entrée of King Philipp III (Filipe II de Portugal) in Lisbon in 1619 which the author discovered at Weilburg castle in Germany. The author places the painting in its historical and pictorial context by comparing it to the written reports of the entry and comparable 16th and 17th century views of Lisbon. Apparently, the painting is based on a strictly planned choreography that largely follows the previous entry of Philipp II, and is identical in the painted, engraved and written descriptions of the event published between 1619 and 1622.

How servant leadership is perceiver by leaders and followers in a Portuguese organizational context

Servant leadership theory has been the subject of great academic discussion, namely in what concerns reaching a consensus for its definition. As many frameworks have been designed in order to define the servant leader’s characteristics, we based ourselves in van Dierendonck’s review and synthesis on servant leadership (2011) to assess how it is perceived in a Portuguese organizational context. After performing several interviews in a private health care organization, we conclude that the perception of servant leadership is generally positive and that its characteristics seem to be in line with academic literature. However, some issues arose such as a seemingly lack of relevance given to authenticity and humility, the latter being a unique attribute of servant leadership. Also, we found a discrepancy between hierarchical levels’ perception of servant leadership characteristics as well as questioning if an over emphasis on service can diminish the servant leader’s impact on organizational performance.

Critical incident study on forgiveness in the organizational context

Forgiveness has been subject of interest, mainly in the psychology fields of study. Relatively to the organizational context, this topic has been somehow put aside and settled as something that is purely an intra-individual phenomenon which organizations cannot force, or even stimulate. As conflicts are common within organizations and being often difficult to overcome, eyes have turned into the role forgiveness might take in this scenario. Despite forgiveness being accepted as an intrapersonal decision and a result of predisposition as it is a result of education and culture. This study, as some already done, refuses to accept forgiveness as an unchangeable behavior that cannot be manipulated or induced by managers or by organizational context. Therefore, offering a set of incidents as well as their classification, that have been identified by individuals performing different types organizational roles in different organization which is believed as being a genuine way of delivering to the reader a set of actions and behaviors that if taken, may incentivize or inhibit forgiveness.

Context costs and comparative advantages in the telecommunications sector in Portugal and China

This Work Project aims to discuss the Context Costs and Comparative Advantages of the Telecommunications sector both in Portugal and China. The work was built mostly on primary research by interviews with relevant people (business persons, University Professors and Agencies directors), and by economic data publicly available. A list of context costs and comparative advantages was drawn for each country and possible resolutions suggestions were made in the end. The context costs depend heavily on the economic situation of the countries and it should be taken into account when assessing the degree of magnitude of each cost of context. The competitive advantages of each country were drawn in comparison with one another. Some key results stand out: firstly, Portugal’s costs of context depend mainly on governmental decisions, uncertainties and instability and China’s cost of context depend primarily on cultural norms, mainly the Guanxi; second, the telecommunications sector shares most of its context costs and advantages with other sectors; third, China as an economic power could use the telecommunications sector as a way to further develop and boost its economy.

Multifunctional converter to interface renewable energy sources and electric vehicles with the power grid in smart grids context

This paper proposes a multifunctional converter to interface renewable energy sources (e.g., solar photovoltaic panels) and electric vehicles (EVs) with the power grid in smart grids context. This multifunctional converter allows deliver energy from the solar photovoltaic panels to an EV or to the power grid, and exchange energy in bidirectional mode between the EV and the power grid. Using this multifunctional converter are not required multiple conversion stages, as occurs with the traditional solutions, where are necessary two power converters to integrate the solar photovoltaic system in the power grid and also two power converters to integrate an off-board EV battery charger in the power grid (dc-dc and dc-ac power converters in both cases). Taking into account that the energy provided (or delivered) from the power grid in each moment is function of the EV operation mode and also of the energy produced from the solar photovoltaic system, it is possible to define operation strategies and control algorithms in order to increase the energy efficiency of the global system and to improve the power quality of the electrical system. The proposed multifunctional converter allows the operation in four distinct cases: (a) Transfer of energy from the solar photovoltaic system to the power grid; (b) Transfer of energy from the solar photovoltaic system and from the EV to the power grid; (c) Transfer of energy from the solar photovoltaic system to the EV or to the power grid; (d) Transfer of energy between the EV and the power grid. Along the paper are described the system architecture and the control algorithms, and are also presented some computational simulation results for the four aforementioned cases. It is also presented a comparative analysis between the traditional and the proposed solution in terms of operation efficiency and estimated cost of implementation.

Educação para a sustentabilidade: O uso de Sistemas de Informação Geográfica Participativos como instrumento de participação de crianças e adolescentes na construção de sociedades mais sustentáveis

Tese de Doutoramento em Ciências da Educação (Área de Conhecimento: Educação ambiental e para a Sustentabilidade)

Arquitecturas imaginárias. Espaço real e ilusório no Barroco português

Tese de Doutoramento em Arquitectura / Cultura Arquitectónica.

The importance of risk assessment in the context of investment project management: a case study

Risk management is an important component of project management. Nevertheless, such process begins with risk assessment and evaluation. In this research project, a detailed analysis of the methodologies used to treat risks in investment projects adopted by the Banco da Amazonia S.A. was made. Investment projects submitted to the FNO (Constitutional Fund for Financing the North) during 2011 and 2012 were considered for that purpose. It was found that the evaluators of this credit institution use multiple indicators for risk assessment which assume a central role in terms of decision-making and contribute for the approval or the rejection of the submitted projects; namely, the proven ability to pay, the financial records of project promotors, several financial restrictions, level of equity, level of financial indebtedness, evidence of the existence of a consumer market, the proven experience of the partners/owners in the business, environmental aspects, etc. Furthermore, the bank has technological systems to support the risk assessment process, an internal communication system and a unique system for the management of operational risk.

Abnormal interactions between context, memory structure, and mood in schizophrenia: an ERP investigation

This study used event-related potentials to examine interactions between mood, sentence context, and semantic memory structure in schizophrenia. Seventeen male chronic schizophrenia and 15 healthy control subjects read sentence pairs after positive, negative, or neutral mood induction. Sentences ended with expected words (EW), within-category violations (WCV), or between-category violations (BCV). Across all moods, patients showed sensitivity to context indexed by reduced N400 to EW relative to both WCV and BCV. However, they did not show sensitivity to the semantic memory structure. N400 abnormalities were particularly enhanced under a negative mood in schizophrenia. These findings suggest abnormal interactions between mood, context processing, and connections within semantic memory in schizophrenia, and a specific role of negative mood in modulating semantic processes in this disease.

Cryptic species in Pagamea coriacea sensu lato (Rubiaceae): evidence from morphology, ecology and reproductive behavior in a sympatric context

In this study we explore morphological and ecological variation in sympatric populations of Pagamea coriacea s.l. - a species complex from white-sand vegetation in the Amazon. A total of 147 trees were sampled and monitored at three nearby sites in Central Amazon, Brazil. Multivariate analyses of morphology indicated two distinct groups (A and B), which also differed in bark type, each containing subgroups associated with sexual dimorphism. However, a single hermaphroditic individual was observed within group B. As expected, all pistillate plants produced fruits, but 23% of the staminate plants of group B, and 5% of group A also produced fruits. This variation suggests that the sexual systems of both groups are between dioecy and gynodioecy. There was an overlap in flowering phases between the two groups, but the pattern of floral maturation differed. Ecologically, plants of group B were found in more shaded habitats and over sandstone bedrocks, while group A was prevalent in deeper sandy soils as canopy plants. The significances of morphological and environmental differences were tested by a multivariate analysis of variance, and a canonical discriminant analysis assessed the importance of variables. The coexistence in sympatry of two discrete morphological groups in the P. coriacea s.l., with different habitat preferences and reproductive behaviors, indicates they represent distinct species.

Se tu eliminares o conto de fadas da realidade eu sou contra ti: disse Kahn

Dissertação de mestrado integrado em Arquitetura (área de especialização em Cultura Arquitetónica)

School health promotion and teacher professional identity

PURPOSE – Health and education are inextricably linked. Health promotion sits somewhat uncomfortably within schools, often remaining a marginal aspect of teachers’ work. The purpose of this paper is to examine the compatibility of an HP-initiative with teacher professional identity. DESIGN/METHODOLOGY/APPROACH – A qualitative research design was adopted consisting of semi-structured interviews. In total, 49 teachers in two school districts in the Auvergne region in central France were interviewed in depth post having completed three years’ involvement in a health promoting schools initiative called “Learning to Live Better Together” (“Apprendre a Mieux Vivre Ensemble”). FINDINGS – Teachers in the study had a broad conceptualisation of their role in health promotion. In keeping with international trends, there was more success at classroom than at whole school level. While generally teachers can be reluctant to engage with health promotion, the teachers in this study identified having little difficulty in understanding their professional identity as health promoters and identified strong compatibility with the HP-initiative. PRACTICAL IMPLICATIONS – Teachers generally viewed professional development in health promotion in a positive light when its underlying values were commensurate with their own and when the context was seen as compatible with the school mission. The promotion of health in schools needs to be sensitive to professional identity and be tailored specifically to blend more successfully with current teacher identity and practice. ORIGINALITY/VALUE – The promotion of health in schools needs to be sensitive to professional identity and be tailored specifically to blend more successfully with current teacher identity and practice.

Impact of mutated KRAS signalling on autophagy regulation in colorectal carcinoma

Programa Doutoral em Biologia Molecular e Ambiental