Raiffeisenism abroad: why did German cooperative banking fail in Ireland but prosper in the Netherlands?

Why did imitations of Raiffeisen’s rural cooperative savings and loans associations work well in some European countries, but fail in others? This article considers the example of Raiffeisenism in Ireland and in the Netherlands. Raiffeisen banks arrived in both places at the same time, but had drastically different fates. In Ireland they were almost wiped out by the early 1920s, while in the Netherlands they proved to be a long-lasting institutional transplant. Raiffeisen banks were successful in the Netherlands because they operated in niche markets with few competitors, while rural financial markets in Ireland were unsegmented and populated by long- established incumbents, leaving little room for new players, whatever their institu- tional advantages. Dutch Raiffeisen banks were largely self-financing, closely integrated into the wider rural economy, and able to take advantage of economic and religious divisions in rural society. Their Irish counterparts were not.

The Impact of Extension and Ecosystem Services on Smallholders’ Credit Constraint.

On formal credit markets, access to formal credit and reasonable credit terms of smallholder farmers
in rural sub-Saharan Africa is limited due to adverse selection. Financial institutions operating in
rural areas often cannot distinguish between borrowers (farmers) that are creditworthy and those that
are not, thus, allocate limited resource to agriculture to reduce credit risk. In the presence of limited business quality signaling by smallholder farmers, financial institutions shall demand for collateral and/or offer unfavorable contract terms. Moreover, agricultural productivity of rural sub-Saharan
Africa, dominated by subsistence or small-scale farmers, is also negatively impacted by the adverse
effect of climate change. A strategy that may make the farming practices of smallholder farmer’s
climate resilient and profitable may also improve smallholder farmer's access to formal credit. This
study investigates to what extent participating in ecosystem and extension services (EES) programs
signals business quality of smallholders, thus granting them credit accessibility. We collected data
on 210 smallholder farmers in 2013, comprising farmers that receive payments for ecosystem
services (PES) and farm management training from the International Small Group Tree Planting
Program (TIST) Kenya to test the aforementioned theory empirically. We use game theory,
particularly a screening and sorting model, to illustrate the prospects for farmers with EES to access
formal credit and to improve their credit terms given that they receive PES and banking services
training. Furthermore, the PES’ long term duration (10 – 30 years) generates stable cash-flow which
may be perceived as collateral substitute. Results suggest that smallholder farmers in the TIST
program were less likely to be credit constraint compared to non-TIST farmers. Distance to market,
education, livestock and farm income are factors that determine access to credit from microfinance
institutions in rural Kenya. Amongst farmers that have obtained loans, those keeping business records
enjoy more favorable formal credit conditions. These farmers were observed to pay ca. 5 percent less
interest rate in microfinance charges. For TIST farmers, this type of farm management practices may
be attributed to the banking services and other training they receive within the program. While the
availability of classical collateral (farmlands) and PES may reduce interest rate, the latter was found
to be statistically insignificant. This research underlines the importance of an effective extension
services in rural areas of developing countries and the need to improve gains from conservation
agriculture and ensuing PES. The benefits associated with EES and PES may encompass agricultural
financing.

An Integrated Toolkit for the Conservation of Stone-Built Heritage

Rapid in situ diagnosis of damage is a key issue in the preservation of stone-built cultural heritage. This is evident in the increasing number of congresses, workshops and publications dealing with this issue. With this increased activity has come, however, the realisation that for many culturally significant artefacts it is not possible either to remove samples for analysis or to affix surface markers for measurement. It is for this reason that there has been a growth of interest in non-destructive and minimally invasive techniques for characterising internal and external stone condition. With this interest has come the realisation that no single technique can adequately encompass the wide variety of parameters to be assessed or provide the range of information required to identify appropriate conservation. In this paper we describe a strategy to address these problems through the development of an integrated `tool kit' of measurement and analytical techniques aimed specifically at linking object-specific research to appropriate intervention. The strategy is based initially upon the acquisition of accurate three-dimensional models of stone-built heritage at different scales using a combination of millimetre accurate LiDAR and sub-millimetre accurate Object Scanning that can be exported into a GIS or directly into CAD. These are currently used to overlay information on stone characteristics obtained through a combination of Ground Penetrating Radar, Surface Permeametry, Colorimetry and X-ray Fluorescence, but the possibility exists for adding to this array of techniques as appropriate. In addition to the integrated three-dimensional data array provided by superimposition upon Digital Terrain Models, there is the capability of accurate re-measurement to show patterns of surface loss and changes in material condition over time. Thus it is possible to both record and base-line condition and to identify areas that require either preventive maintenance or more significant pre-emptive intervention. In pursuit of these goals the authors are developing, through a UK Government supported collaboration between University Researchers and Conservation Architects, commercially viable protocols for damage diagnosis, condition monitoring and eventually mechanisms for prioritizing repairs to stone-built heritage. The understanding is, however, that such strategies are not age-constrained and can ultimately be applied to structures of any age.

Promoting healthy dietary behaviour through personalised nutrition: technology push or technology pull?

The notion of educating the public through generic healthy eating messages has pervaded dietary health promotion efforts over the years and continues to do so through various media, despite little evidence for any enduring impact upon eating behaviour. There is growing evidence, however, that tailored interventions such as those that could be delivered online can be effective in bringing about healthy dietary behaviour change. The present paper brings together evidence from qualitative and quantitative studies that have considered the public perspective of genomics, nutrigenomics and personalised nutrition, including those conducted as part of the EU-funded Food4Me project. Such studies have consistently indicated that although the public hold positive views about nutrigenomics and personalised nutrition, they have reservations about the service providers' ability to ensure the secure handling of health data. Technological innovation has driven the concept of personalised nutrition forward and now a further technological leap is required to ensure the privacy of online service delivery systems and to protect data gathered in the process of designing personalised nutrition therapies.

Custo do financiamento bancário e qualidade da informação financeira: estudos para empresas sem valores cotados em Bolsa

A Tese é constituída por três estudos distintos mas ligados pela temática do custo do financiamento bancário e da qualidade da informação financeira, em empresas sem valores cotados em bolsa. No primeiro estudo analisa-se a relação entre o custo do financiamento bancário e a qualidade da informação financeira nas empresas portuguesas. A qualidade da informação financeira é entendida como sinónimo de qualidade dos resultados e é medida através do valor absoluto dos accruals anormais. Os resultados obtidos demonstram a existência de uma relação negativa entre o custo do financiamento bancário e a qualidade da informação financeira nas empresas portuguesas sem valores cotados em bolsa. No segundo estudo alarga-se a análise anterior a empresas sem valores cotados em bolsa do Reino Unido, Alemanha, França e Espanha, realizandose também uma comparação entre esses países e Portugal. A evidência empírica deste estudo permite concluir que existe uma relação negativa entre o custo do financiamento bancário e a qualidade da informação financeira em todos os países, com exceção do Reino Unido. Este país apresenta-se como um caso particular entre os países analisados, onde a qualidade da informação financeira parece apenas influenciar o custo de determinados tipos de empréstimos. No terceiro estudo analisa-se o efeito que a deterioração da qualidade da informação financeira, consubstanciada na apresentação de resultados negativos, tem no custo do financiamento bancário das empresas portuguesas. A evidência obtida demonstra que as empresas que verificam tal deterioração suportam um aumento do custo do financiamento bancário.

Core and patch position optimizations for vibration control of piezolaminated structures

This paper deals with a finite formulation baserd on the classical laminated plate tehory, for active control of thin late laminated structures with integrated piezoelectric layers, acting as sensors and actuators. The control is initialized through a previuos optimization of the core of the laminated structure, in order to minimize the vibration amplitude. Also the optimization of the patches position in performed to maximize the piezoelectric actuator efficiency. the simulating annealing mthod is used for these purposes. The finite element model is a single layer triangular nonconforming plate/shell element with 18 degrees of fredom for the generalized displacements, and one electrical potential degree of freedom for each piezoelectric element layer, wich can be surface bonded or imbedded on the laminate. To achieve a mechanism of active control of the structure dynamic response, a feedback control algorirhm is used, coupling the sensor and active piezoelectric layers. To calculate the dynamic response of the laminated structures the Newmark method is considered. The model is applied in the solution of an illustrative case and the results are presented and discussed.

Estágio no Centro Hospitalar de Lisboa Norte - Polo: Hospital de Santa Maria - Serviço de Dietética e Nutrição

Relatório de estágio de mestrado, Nutrição Clínica, Universidade de Lisboa, Faculdade de Medicina, 2015

A importância dos fluxos de caixa na análise da solvência, liquidez e visibilidade das empresas

Orientada por: Prof. Doutora Cláudia Lopes

Central de produção de energia eléctrica a partir de energia solar térmica

Trabalho Final de Mestrado para obtenção do grau de Mestre em Engenharia Mecânica

O papel do inapem no fomento do empreendedorismo na provincia do Kwanza Norte-Angola

Dissertação de Mestrado apresentada ao Instituto de Contabilidade e Administração do Porto para a obtenção do grau de Mestre em Empreendedorismo e Internacionalização, sob orientação de Celsa Maria Carvalho Machado e Adalmiro Álvaro Malheiro de Castro Andrade Pereira

Gestão do risco de crédito e rentabilidade dos bancos: o caso português

Dissertação de Mestrado apresentada ao Instituto de Contabilidade e Administração do Porto para a obtenção do grau de Mestre em Contabilidade e Finanças, sob orientação do Mestre Adalmiro Álvaro Malheiro de Castro Andrade Pereira.

A gestão do risco em instituições bancárias: uma análise com recurso a medidas de avaliação da performance ajustadas ao risco

Dissertação de Mestrado apresentado ao Instituto de Contabilidade e Administração do Porto para a obtenção do grau de Mestre em Auditoria sob orientação do Mestre Carlos Mota

A gestão do risco de liquidez e a concessão de crédito durante os períodos de crise

Dissertação de Mestrado Apresentada ao Instituto Superior de Contabilidade e Administração do Porto para a obtenção do grau de Mestre em Contabilidade e Finanças, sob orientação do Doutor Mário Joel Matos Veiga de Oliveira Queirós.

A Avaliação Imobiliária e a sua relação com o Investimento

O presente relatório visa cumprir os requisitos da unidade curricular Dissertação, Projeto ou Estágio (DIPRE) do mestrado em Engenharia Civil do Instituto Superior de Engenharia do Porto (ISEP). O estágio curricular decorreu na empresa VPM - Vaz Pinto Mendes - Unipessoal Lda, sob o tema: “A avaliação imobiliária e a sua relação com o investimento”. A avaliação imobiliária visa determinar o valor associado aos bens imóveis. Pode ser aplicada a todo o tipo de bens imóveis, tais como: apartamentos e moradias uni e multifamiliares, espaços comerciais e de serviços, quintas, unidades hoteleiras e industriais, complexos desportivos, entre outros. A avaliação imobiliária poderá ser solicitada por parte de proprietários ou arrendatários dos imóveis, por empresas, tribunais, advogados e solicitadores. Apresenta diversos fins, tais como a determinação do valor de indemnização devido a expropriações, o financiamento hipotecário para compra ou construção de imóveis, partilhas, estudo de um investimento financeiro, intenção de venda ou arrendamento, efeitos fiscais ou apenas o simples conhecimento do valor aproximado das propriedades que se possui. O presente estudo visa abordar o atual mercado imobiliário nacional, o procedimento de realização de uma avaliação imobiliária e principalmente os métodos de avaliação tradicionais.

A evolução da repartição de poderes entre o Juiz e o Agente de Execução

Dissertação de Mestrado em Solicitaria