A internacionalização do setor bancário português

O processo de globalização, na esfera dos mercados financeiros, exigiu às instituições bancárias opções de investimento estratégico na plataforma internacional. O movimento de implantação dos bancos portugueses no estrangeiro acompanhou esse processo, permitindo a oferta de serviços bancários de captação e financiamento nos principais mercados de destino das exportações e emigração. A presente dissertação tem como objetivo o estudo do processo de internacionalização do setor bancário português centrado na seguinte questão geral de investigação: “Quais os fatores determinantes das variáveis que caraterizam a evolução do setor bancário português no exterior?” O desenvolvimento desta questão é conduzido através da construção de um modelo explicativo dos impactos de um conjunto de determinantes, selecionados a partir da revisão de literatura, sobre os indicadores que traduzem a dinâmica do negócio bancário no exterior. Neste contexto, pretendeu-se obter evidência empírica desses efeitos através de uma metodologia que consiste na estimação de modelos de dados em painel, utilizando uma amostra de seis bancos com relevância ao nível de investimento no mercado externo relativos ao período compreendido entre 2004 e 2014. Os resultados empíricos sugerem a existência de relações estatisticamente significativas entre as variáveis consideradas nos modelos. Foram encontrados indícios que associam consistentemente as variáveis emigração, Investimento Direto Estrangeiro, Produto Interno Bruto em Portugal e nos países de acolhimento, ativo bancário e inflação, com a evolução da atividade bancária no exterior. Adicionalmente, os resultados revelam que o desemprego e o rácio do crédito em relação ao ativo são estatisticamente significativos na sua influência sobre o indicador da rendibilidade dos bancos. Conclui-se que a significância dos fatores selecionados permite explicar o comportamento dos indicadores de negócio no exterior para os bancos estudados e, consequentemente, a validade do modelo de análise proposto. No entanto, não se exclui que outros elementos explicativos não ponderados no estudo tenham igualmente preponderância explicativa no processo de internacionalização do setor bancário.

Recurrence After Operative Management of Intrahepatic Cholangiocarcinoma

INTRODUCTION: Data on recurrence after operation for intrahepatic cholangiocarcinoma (ICC) are limited. We sought to investigate rates and patterns of recurrence in patients after operative intervention for ICC. METHODS: We identified 301 patients who underwent operation for ICC between 1990 and 2011 from an international, multi-institutional database. Clinicopathologic data, recurrence patterns, and recurrence-free survival (RFS) were analyzed. RESULTS: During the median follow up duration of 31 months (range 1-208), 53.5% developed a recurrence. Median RFS was 20.2 months and 5-year actuarial disease-free survival, 32.1%. The most common site for initial recurrence after operation of ICC was intrahepatic (n = 98; 60.9%), followed by simultaneous intra- and extrahepatic disease (n = 30; 18.6%); 33 (21.0%) patients developed extrahepatic recurrence only as the first site of recurrence. Macrovascular invasion (hazard ratio [HR], 2.08; 95% confidence interval [CI], 1.34-3.21; P < .001), nodal metastasis (HR, 1.55; 95% CI, 1.01-2.45; P = .04), unknown nodal status (HR, 1.57; 95% CI, 1.10-2.25; P = .04), and tumor size ≥5 cm (HR, 1.84; 95% CI, 1.28-2.65; P < .001) were independently associated with increased risk of recurrence. Patients were assigned a clinical score from 0 to 3 according to the presence of these risk factors. The 5-year RFS for patients with scores of 0, 1, 2, and 3 was 61.8%, 36.2%, 19.5%, and 9.6%, respectively. CONCLUSION: Recurrence after operative intervention for ICC was common. Disease recurred both at intra- and extrahepatic sites with roughly the same frequency. Factors such as lymph node metastasis, tumor size, and vascular invasion predict highest risk of recurrence.

Imparidades em inventários

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 da Doutora Albertina Paula Monteiro Esta versão contém as críticas e sugestões dos elementos do júri.

Which “place and non-place” do women occupy in social economy organisations?

Scientific literature has strengthened the perpetuation of inequality factors in the labour market based on gender, despite the on-going endeavour of various political bodies and legal norms against the vertical and horizontal segregation of women. National and European statistical data shows the relevance and timeless features of theories of market segmentation associated with the labour market dating back to the 70’s of the 20th century. Hence, the European Community considers as a priority in the Europe 2020 strategy, the definition of “policies to promote gender equality […] to increase labour force participation thus adding to growth and social cohesion”. If we consider that on the one hand, social economy is fairly recognised to be equated with market actors and the State for its economic and social role in tackling the current crisis, and on the other hand, that the ideals of the sector, systematised in the “Framework Law of Social Economy” (Law no. 30/2013 8th of May), particularly in article 5 proposing “the respect for the values […] of equality and non-discrimination […], justice and equity […]”, we aim to reflect on indicators that uncover a vertical and horizontal segregation in the labour market. Departing from a mixed methodological approach (extensive and intensive), subject to the topic of "Social Entrepreneurship in Portugal" in social economy organisations, we detect very high rates of employment feminisation, with a ratio of 1 man (23%) for every 3 women (77%). Women are mainly earmarked for technical and operational activities, arising from the privileged intervention areas, namely education, training, health, elderly, families, poverty, ultimately being underrepresented in statutory boards and, as such, far removed from deliberations and strategic resolutions. This is particularly visible in the existing hierarchy of functions and management practices of the responsibility of male members. Thus, it seems easily verified that the sector is travelling away from the ideals of justice and social equity, which can crystallise the "non-place" of women in the definition of a strategic direction of social economy and in the most invisible/private “place” of the organisational setting.

Five-Year Review of an International Clinical Research-Training Program

The exponential increase in clinical research has profoundly changed medical sciences. Evidence that has accumulated in the past three decades from clinical trials has led to the proposal that clinical care should not be based solely on clinical expertise and patient values, and should integrate robust data from systematic research. As a consequence, clinical research has become more complex and methods have become more rigorous, and evidence is usually not easily translated into clinical practice. Therefore, the instruction of clinical research methods for scientists and clinicians must adapt to this new reality. To address this challenge, a global distance-learning clinical research-training program was developed, based on collaborative learning, the pedagogical goal of which was to develop critical thinking skills in clinical research. We describe and analyze the challenges and possible solutions of this course after 5 years of experience (2008-2012) with this program. Through evaluation by students and faculty, we identified and reviewed the following challenges of our program: 1) student engagement and motivation, 2) impact of heterogeneous audience on learning, 3) learning in large groups, 4) enhancing group learning, 5) enhancing social presence, 6) dropouts, 7) quality control, and 8) course management. We discuss these issues and potential alternatives with regard to our research and background.

The sum-of-the-parts method: An international application

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

The Visual Culture of Human Rights. Observations on Amnesty International

Trabalho de project de Mestrado em Antropologia de Direitos Humanos e Movimentos Sociais

Analysis of benefits of the process of certification on international standars: ISO 9001-2008 for Mapfre Assistencia Portugal

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

Economic rents, institutions and growth: International aid and natural resources: A comparative analysis

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

Risk and return: The international expansion of EDP Renováveis

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

International Airlines Group: Equity Investment Report

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

Market selection and market entry recommendations for a non-profit organization's first international venture

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