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.

Travestis brasileiras em Portugal : percursos, identidades e ambiguidades

Os séculos XX e XXI corresponderam ao agudizar de processos globalizantes potenciados pelas novas tecnologias, quer no âmbito comunicacional, quer industrial, sublinhando dinâmicas de desruralização e de construção de tecidos urbanos densos onde o anonimato se tornou possível na vivência de experiências, outrora reconduzidas ao silêncio do sujeito socialmente isolado. A diferença, enquanto experiência vivida, tornou-se comunitariamente possível, surgindo grupos que delimitam geograficamente determinadas áreas urbanas a que correspondem afinidades eróticas ou de práticas sexuais, inicialmente de gays e lésbicas. Quebra-se na prática a uni-direccionalidade entre sexo e género, entre sexo e sexualidade, questionando-se esquemas de relações assimétricas e modelos de pensamento enraizados (heterossexualidade, patriarcado, machismo, etc.). Rubin (1975 in Lewin 2006, in Vance, 1984) propõe a existência de dois sistemas diferenciados de sexo e género que tornam plausível, sob o ponto de vista analítico, a não correspondência entre sexo, género e sexualidade. O paradigma máximo desta autonomia sistémica alcança-se na construção de uma identidade travesti. Esta identidade mutante, mutável e instável parece acompanhar um mundo de fluxos intensos e interdependências múltiplas. É na sociedade global que as travestis encontram espaço para a vivência comunitária da sua experiência, constituindo-se como um grupo com práticas transnacionais, marcado pela mobilidade de género e geográfica, primeiramente dentro das fronteiras brasileiras e depois para a Europa. Cidade, prostituição e migração surgem como factores chave da disseminação geográfica e identitária desta comunidade. Este projecto tomado sob uma perspectiva global mantêm ou reinventa relações com a estrutura, que aparentemente as apaga enquanto actores sociais e da qual, aparentemente, se auto-excluem.

Connect to success- consulting program of the U.S. embassy Lisbon creation of a business plan for “Quinta dos I’s”

The purpose of this project is to analyse and evaluate if the rural tourism cottage Quinta dos I’s will be profitable within the first five years of operation. It starts with a brief description of the business, followed by an industry analysis of the rural tourism market in Portugal and an intensive competitor analysis to evaluate Quinta dos I’s’ competitive advantages. The project then defines a marketing plan to generate awareness and establish the cottage in the market. Finally, a financial analysis is performed to examine the outcome of Quinta dos I’s’ recommended strategic activities. The results of this project show that the cottage is profitable after the first year of operation and expects to grow annually.

Post-operating performance of cross-delisted firms from U.S. stock exchanges

We investigate the long-term performance of cross-delisted firms from U.S. stock markets. Using a sample of foreign firms listed and delisted from U.S. stock exchange markets over 2000-2012, we examine the operating performance and the long-run stock returns performance of firms post-cross-delisting. Our results suggest that cross-delisted firms have less growth opportunities than matched cross-listed firms in the long run. Moreover, firms that cross-delist after the passage of Rule 12h-6 of 2007 exhibit a significant decline in operating performance. In contrast, before the adoption of the Rule 12h-6, cross-delisted firms seem to be affected by the cost of a U.S. listing in the precross -delisting period. In addition, we provide evidence that cross-delisted firms underperform their cross-listed peers; cross-delisted firms experience negative average abnormal returns, especially in the post-delisting period.

Development of a new U 200 pultrusion die to produce GRP composite profiles using different thermosetting resins

In this work, a steel heated pultrusion die was designed, developed and manufactured to produce U200 glass fibre reinforced thermosetting matrix (GRP) profiles. The finite element analysis (FEA) was used to predict and optimise the developed die heating by using cylindrical electrical powered cartridges. To assess the new die performance it was mounted in the 120 kN pultrusion line of the Portuguese company Vidropol SA and used to produce continuously U200 profiles able to meet all requirements specified for the E23 grade accordingly to the European Standard EN 13706: 2002. After setting up the type, orientation and sequence of layers in laminate, orthophthalic, isophthalic and bisphenolic unsaturated polyester as well as vinylester resins were used to produce glass fibre reinforced U 200 composite profiles. An appropriated catalyst system was selected and the processing variables optimised for each case, namely, pultrusion pull-speed and die temperature. Finally, the produced U200 profiles were submitted to visual inspection, calcination and mechanical tests, namely, flexural, tensional and interlaminar shear strength (ILSS) tests, to assess their accomplishment with the EN 13706 requirements.

Anatomia do lenho de Uncaria guianensis e U. tomentosa (Rubiaceae) do estado do Acre, Brasil

As plantas de Uncaria guianensis e U. tomentosa são lianas trepadeiras, arbustos trepadores ou rasteiros ascendentes que ocorrem em amplas áreas da Amazônia brasileira e países da América Central e do Sul. Possuem excepcional importância medicinal, com sua casca, lenho e folhas utilizadas pelos povos amazônicos e pela indústria farmacêutica. Face a necessidade da identificação das plantas em condições de campo e de laboratório, o presente trabalho descreveu a estrutura anatômica do lenho de Uncaria guianensis e U. tomentosa, ocorrentes no Estado do Acre, Brasil. Os resultados mostraram que o lenho das espécies é característico da família Rubiaceae, a exceção dos vasos arredondados, grandes e solitários, parenquima axial difuso e largura dos raios que são próprios das lianas.

O efeito da salinidade no desenvolvimento larval do caranguejo - uçá, Ucides cordatus (Linnaeus, 1763) (Decapoda: Ocypodidae) no Norte do Brasil

O presente trabalho estudou o efeito da salinidade na sobrevivência e na duração do desenvolvimento larval do caranguejo-uçá, Ucides cordatus (do estuário do Rio Caeté, Norte do Brasil), até a fase de megalopa em sete tratamentos de salinidade (0, 5, 10, 15, 20, 25 e 30). A salinidade afetou significativamente a sobrevivência das larvas zoea, no entanto não afetou a duração do desenvolvimento larval (20,77 ± 1,56 dias). Nas salinidades 0, 5 e 10 houve total mortalidade das larvas zoea. Somente a partir da salinidade 15 observou-se um desenvolvimento completo até a fase de megalopa. A taxa de sobrevivência foi maior em salinidade 30 (72%) e menor em 15 (16%). A reduzida taxa de sobrevivência das larvas zoea de U. cordatus, em salinidades baixas, indica a necessidade de dispersão larval do estuário para as águas costeiras onde as condições de salinidade para o desenvolvimento larval são mais favoráveis. Caso contrário se não houvesse a dispersão, a reduzida salinidade das águas estuarinas no período chuvoso, causaria uma elevada mortalidade, afetando desta forma o recrutamento, a manutenção e o crescimento da população de U. cordatus nos manguezais.

Recurrence relations for Clifford algebra-valued orthogonal polynomials

The theory of orthogonal polynomials of one real or complex variable is well established as well as its generalization for the multidimensional case. Hypercomplex function theory (or Clifford analysis) provides an alternative approach to deal with higher dimensions. In this context, we study systems of orthogonal polynomials of a hypercomplex variable with values in a Clifford algebra and prove some of their properties.

Acmella marajoensis G.A.R. Silva & J.U.M. Santos: uma nova espécie de Asteraceae para a Amazônia brasileira

Em decorrência dos estudos na subtribo Ecliptinae da Amazônia brasileira, é descrita uma nova espécie, Acmella marajoensis G.A.R. Silva & J.U.M. Santos. Até o presente momento, a espécie é considerada como endêmica da Ilha do Marajó. São apresentados diagnose em latim, descrição detalhada, comentários taxonômicos e ilustrações.

A Casa do Côto: entre a definição medieval e o desígnio contemporâneo

Dissertação de mestrado integrado em Arquitectura

Literatura russa em Portugal: das vias de difusão aos sentidos de receção: o caso de Leão Tolstói

Tese de Doutoramento em Ciências da Literatura (área de especialização em Literatura Comparada).

Green's relations, regularity and abundancy for semigroups of quasi-onto transformations

Let V be an infinite-dimensional vector space and for every infinite cardinal n such that n≤dimV, let AE(V,n) denote the semigroup of all linear transformations of V whose defect is less than n. In 2009, Mendes-Gonçalves and Sullivan studied the ideal structure of AE(V,n). Here, we consider a similarly-defined semigroup AE(X,q) of transformations defined on an infinite set X. Quite surprisingly, the results obtained for sets differ substantially from the results obtained in the linear setting.

Cultural circuits of climate change in U.K. broadsheet newspapers, 1985–2003

This article argues for a cultural perspective to be brought to bear on studies of climate change risk perception. Developing the “circuit of culture” model, the article maintains that the producers and consumers of media texts are jointly engaged in dynamic, meaning-making activities that are context-specific and that change over time. A critical discourse analysis of climate change based on a database of newspaper reports from three U.K. broadsheet papers over the period 1985–2003 is presented. This empirical study identifies three distinct circuits of climate change—1985–1990, 1991–1996, 1997–2003—which are characterized by different framings of risks associated with climate change. The article concludes that there is evidence of social learning as actors build on their experiences in relation to climate change science and policy making. Two important factors in shaping the U.K.’s broadsheet newspapers’ discourse on “dangerous” climate change emerge as the agency of top political figures and the dominant ideological standpoints in different newspapers.

A voyage to the islands Madera, Barbados, Nieves, S. Christophers and Jamaica : with the natural history of the herbs and trees, four-footed beasts, fishes, birds, insects, reptiles, &c. of the last of those islands; to which is prefix'd, an introduction, wherein is an account of the inhabitants, air, waters, diseases, trade, &c. of that place, with some relations concerning the neighbouring continent, and islands of America. Illustrated with figures of the things described, which have not been heretofore engraved. In large copper-plates as big as the life /

Vol. 2