alpha-Co(OH)(2)/carbon nanofoam composite as electrochemical capacitor electrode operating at 2 V in aqueous medium

In this work, alpha-Co(OH)(2) is electrodeposited onto carbon nanofoam forming a composite electrode operating in a potential window of 2 V in aqueous medium. Prior to electrodeposition, the carbon nanofoam substrate is subjected to a functionalization process, which leads to an increase of about 40% in its specific capacitance value. Formation of cobalt hydroxide clusters onto the functionalized carbon nanofoam by pulse electrodeposition further enhances the specific capacitance of the electrode. The combination of these factors with an enlarged working potential window, results in a material with specific capacitance close to 300 F g(-1) at current density of 1 A g(-1), considering the total mass loading of the composite. This suggests the potential application of the prepared composites in high energy density electrochemical supercapacitors. (c) 2015 Elsevier B.V. All rights reserved.

Otimização Energética na Produção de Biodiesel

Enquadrado num contexto cada vez mais marcado pela necessidade imperiosa de adoção e desenvolvimento de práticas ambientais e energeticamente sustentáveis, este trabalho visa contribuir para a caracterização e otimização do consumo de energia na produção de biodiesel. O biodiesel pode ser encarado como uma boa resposta aos graves problemas que os combustíveis fósseis estão a provocar nas sociedades modernas, pois é uma fonte de energia biodegradável, não-tóxica e sintetizada a partir de várias matérias-primas. Porém, o elevado custo de produção, como consequência do elevado preço das matérias-primas, constitui o maior problema para a sua implementação e comercialização a grande escala. A produção de biodiesel é, em sua quase totalidade, conduzida por via de reação de transesterificação, usando óleo vegetal e álcool como matérias-primas. O objetivo geral deste trabalho é otimizar energeticamente um processo de produção de biodiesel, via catálise homogênea alcalina (BCHA). Para alcançar esse objetivo, um fluxograma típico de produção foi construído e analisado, tanto do ponto de vista energético como econômico. Posteriormente oportunidades de otimização do processo foram identificadas, no sentido de reduzir o consumo de utilidades, impacto ambiental e aumentar a rentabilidade econômica. A construção do processo, a caracterização da alimentação, os critérios de operacionalidade, a obtenção de resultados e demais fatores foram efetuados com auxílio de um software de simulação Aspen Plus versão 20.0 criado pela Aspen Technology products. Os resultados do trabalho revelaram que o processo BCHA produz uma corrente com 99,9 % em biodiesel, obedecendo às normas internacionais em vigor. Na parte energética, o processo BCHA base necessitou de 21.405,1 kW em utilidades quentes e 14.886,3 kW em utilidades frias. A integração energética do processo BCHA, segundo a metodologia pinch, permitiu uma redução das necessidades quentes para 10.752,3 kW (redução de 50 %) e frias para 4.233,5 kW (redução de 72 %). A temperatura no ponto de estrangulamento (PE) foi de 157,7 ºC nas correntes quentes e 147,7 ºC nas correntes frias. Em termos econômicos, o custo total é reduzido em 35% com a integração energética proposta. Essa diminuição, deve-se sobretudo à redução do custo operacional, onde as necessidades de vapor de muita alta pressão (VMAP), vapor de alta pressão (VAP) e água de resfriamento (AR) apresentaram quebras de 2 %, 92 % e 71 %, respectivamente. Como conclusão final, salienta-se que a integração do processo BCHA estudado é energética e economicamente viável.

Does direct cash flow presentation help in predicting future operating cash flow?

A Work Project, presented as part of the requirements for the Award of a Masters Degree in Finance from the NOVA – School of Business and Economics

A flexible navigation system for autonomous robots operating in heterogeneous environments

Dissertação para obtenção do Grau de Mestre em Engenharia Electrotécnica e de Computadores

Entities delaying payments in times of crisis and its impact on profitability

A Work Project, presented as part of the requirements for the Award of a Masters Degree in Finance from the NOVA – School of Business and Economics

Are annual budgets being abandoned by companies operating in Portugal?: Evidence from the 500 “Maiores e Melhores”

A Work Project, presented as part of the requirements for the Award of a Masters Degree in Finance from the NOVA – School of Business and Economics

Vodafone Portugal entry in the Pay-TV market: What is the potential for profitability?

A Work Project, presented as part of the requirements for the Award of a Masters Degree in Management from the NOVA – School of Business and Economics

The impact of banks dimension on profitability, sustainability and efficiency: An analysis for the Iberian financial system

A Work Project, presented as part of the requirements for the Award of a Masters Degree in Management from the NOVA – School of Business and Economics

Cost efficiency in the Portuguese water sector: The case of multimunicipal systems operating at the bulk level

A Work Project, presented as part of the requirements for the Award of a Masters Degree in Economics from the NOVA – School of Business and Economics

Portuguese banks and the economic adjustment programme: balance sheet adjustments and impact on profitability

Double Degree. A Work Project presented as part of the requirements for the Award of a Masters Degree in Management from the NOVA – School of Business and Economics and a Masters Degree in Finance from Louvain School of Management

Are the L'oreal hair care brands currently operating in the Kenyan mass market adequately positioned and adapted to the Kenyan consumers?: A recommendation to the new L'oreal East Africa Office concerning the hair care brand positioning and portfolio in Kenya

NSBE - UNL

Does direct cash flow presentation help in predicting future operating cash flow?

Research literature and regulators are unconditional in pointing the disclosure of operating cash flow through direct method a section of unique information. Besides the intuitive facet, it is also consistent in forecasting future operating cash flows and a cohesive piece to financial statement puzzle. Bearing this in mind, I produce an analysis on the usefulness and predictive ability on the disclosure of gross cash receipts and payments over the disclosure of reconciliation between net income and accruals for two markets with special features, Portugal and Spain. Results validate the usefulness of direct method format in predicting future operating cash flow. Key

Basel III: The impact of new capital requirements on profitability of Portuguese Banks

This empirical study aims to explore the impact of increased capital ratio requirements, on the ROE of the Portuguese banking sector. The paper employs both a quantitative- and qualitative approach, with the qualitative approach as the main method of research. The method adopted to conduct the qualitative research was semi structured elite interviews with banking executives. Higher capital requirements decrease the ROE of banks in Portugal, but huge impairments charges, macroeconomic factors and increased costs of deposits are clearly the dominant reasons for the reduced levels of ROE the past years. Among the measures taken to increase capital ratios, reduction of RWAs and non-core assets have been the main focus, but the issuance of CoCos is regarded as the most expensive measure due to high interest payments. However, the CoCos will not have any effect on the ROE in the long term. It is difficult to draw any conclusions on the impact of more equity in the balance sheet on the ROE of Portuguese banks, as many banks currently don’t generate enough money to pay back on shareholders´ investments.

The determinants of net interest margins & net interest spreads in the Russian & Japanese Commercial Banking sectors

This study presents an empirical investigation of the determinants of net interest margins and spreads in the Russian and Japanese banking sectors with a particular focus on commercial banks. Net interest mar-gins and spreads serve as indicators of financial intermediation efficiency. This paper employed a bank-level unbalanced panel dataset prolonging from 2005 to 2014. My main empirical results show that bank characteristics explain the most of the variation in not only net interest margins but also in spreads. Capi-talization, liquidity risk, inflation, economic growth, private and government debt are important determi-nants of margin in Russia. In Japan to the contrary loan and deposit market concentration along with bank size do predominate. Common significant variables in both countries are the substitution effect, cost effi-ciency and profitability. Turning to net interest spreads, micro- and macro-specific variables are the main significant drivers in Russia. I reach the conclusion that there are no significant determinants of net interest spreads in Japan within the original selection of variables, but operating efficiency and deposits to total funding seem to prevail. In both countries, there are solid differences in the net interest margins as well as spreads once the pre- and the post-crisis periods are considered.

The relationship between liquidity and profitability in the food & beverage industry evidence from Europe and United States

This Work Project clarifies the relationship between liquidity and profitability based on a sample in the Food & Beverage (F&B) industry, and comparing the largest European and United States companies. The research concludes that liquidity, proxied by current ratio or quick ratio, correlates with return on assets taken as the measure of profitability, and so does the cash conversion cycle and its components. Moreover, company size correlates with liquidity, and indirectly affects ROA. This research contributes and addresses to managers in the F&B industry and recommends how they should act in order to improve profitability in the industry.