The determinants of trade credit: a study of portuguese industrial companies

Despite the relevance of trade credit as a source of business financing, the topic is far from being considered exhausted, especially because there is no general and integrated theory explaining the causes and consequences of trade credit.Our research aims to contribute towards the literature that studies the determinants for granting and receiving trade credit. In this sequence, the present study seeks to empirically test some theories about the reasons why companies grant and receive commercial credit. For this purpose we apply a fixed effect model to a panel of 11 040 Portuguese industrial companies, of which 360 are large companies and the majority 10 680 are Small and Medium Enterprises (SME) for the period between 2003 and 2009. We conclude that large companies (with greater access to credit market) serve as financial intermediaries to their clients with less access to finance. In addition, it was observed that the supplier companies use trade credit as a legal means of price discrimination. Finally, financially constrained enterprises, especially in times of financial crisis, use commercial credit as an alternative source of funding, endorsing the hypothesis of substitution between trade credit and bank credit.

A multivariate analysis of socio-demographic factors, water contact patterns and Schistosoma mansoni infection in an endemic area in Brazil

Associations between socio-demographic factors, water contact patterns and Schistosoma mansoni infection were investigated in 506 individuals (87% of inhabitants over 1 year of age) in an endemic area in Brazil (Divino), aiming at determining priorities for public health measures to prevent the infection. Those who eliminated S. mansoni eggs (n = 198) were compared to those without eggs in the stools (n = 308). The following explanatory variables were considered: age, sex, color, previous treatment with schistosomicide, place of birth, quality of the houses, water supply for the household, distance from houses to stream, and frequency and reasons for water contact. Factors found to be independently associated with the infection were age (10-19 and > 20 yrs old), and water contact for agricultural activities, fishing, and swimming or bathing (Adjusted relative odds = 5.0, 2.4, 3.2, 2.1 and 2.0, respectively). This suggests the need for public health measures to prevent the infection, emphasizing water contact for leisure and agricultural activities in this endemic area.

Schistosomiasis mansoni in an area of low transmission: I. impact of control measures

This work was undertaken in the municipality of Pedro de Toledo (São Paulo State, Brazil) in 1987, to clarify aspects related to the transmission levels of Schistosoma mansoni in a human population where the snail host is Biomphalaria tenagophila. Since 1980 a control programme has been undertaken in this municipality. Urban and rural populations (4,719 subjects) were submitted to faecal examinations (Kato-Katz method). The overall prevalence rate was 4.8% being higher in males (6.2%) and also in the rural zone (5.8%). The geometric mean of S. mansoni eggs was 35.1 eggs per gramme of faeces (epg). Approximately 80.0% of the carriers presented less than 100 epg and only 20 individuals (9.0%) eliminated more than half of total eggs. The highest index of potencial contamination (IPC) was in the age group of 5 to 20 years (57.6%). Two thirds of the investigated patients (207) were autochthonous of Pedro de Toledo. The geographical distribution of the carriers showed a clear aggregation of the autochthonous cases and a close association between human contact sites and breeding places of B. tenagophila. This study shows that schistosomiasis subjects were not randomly aggregated, the youngsters should be the main target in the prophylaxis, and the efficacy of the control programme.

The Transversarium-Bifurcatus Zone boundary at Rocha (Peral area, East-Central Algarve, Portugal)

This paper represents the first detailed study of the Transversarium-Bifurcatus Zone boundary in the Algarve. The boundary studied in the Peral area is associated with a stratigraphic discontinuity, whose hiatus partially affects the Transversarium-Bifurcatus Zones. A discontinuity was also recognized in the Bifurcatus-Birnammatum Zone boundary, which can be correlated with the traces of a Type II unconformity, which separates cycles 4.3-4.4 in HAQ et al. (1987), present on the South Iberian palaeomargin. An analysis was made of the ecostratigraphic evolution in the interval between the uppermost Transversarium Zone and the lower part of the Bimammatum Zone on the basis of the faunal spectra obtained. We conclude that ammonites are the most tolerant cephalopods to the ecological stress caused by the increase of inflows and the decrease of the shelf's ecospace. Benthic fauna decreased considerably in these conditions. A relatively abundant and diversified fauna ofDichotomoceras is noteworthy among the ammonites collected, as this genus was previously little known in the Algarve.

Mansonelosis en el area sur-oriental de la Orinoquia venezolana

En 26 asentamientos selváticos del Estado Bolívar, Venezuela, fueron muestreados el 10% o más de sus residentes mediante examen físico, biopsias de piel y toma de sangre periférica. En 13 de las comunidades se detectaron 153 indígenas y un mestizo infectados con Mansonelosis, representando un índice global de 36,40% para el área endémica. La parasitosis se concentró en tres focos: El mayor situado en la región Suroccidental y formando parte de una extensa superficie infectada, que abarca territorios vecinos de Venezuela y Brasil; con aldeas de índices parasitarios colectivos de 80,76% y 94,44%. Un segundo foco está situado en la región Suroriental y los portadores, al igual que en el anterior, están infectados con Mansonela ozzardi. El tercer foco Centro-oriental presentó infecciones por M. pertans. No fue posible concretar un cuadro nosológico en los infectados por M.ozzardi, a pesar de haberse detectado densidades parasitarias individuales de 30.000 microfilarias por ml de sangre y de 22.000 por gr de piel.

Miocene marine-continental correlations in the Lisbon area and some discussion related to personnal experience

Sandpit exploitation near Lisbon allowed collecting of many Miocene, non marine fossils. These sands are part of the mostly marine Miocene series in the Lower Tagus basin. The particularly favourable situation led several researchers to deal with marine-continental correlations. Difficulties often concern methodologic aspects. Some poorly based interpretations exerced a lasting influence. A critical approach is presented. Analysis requires data. Methods based upon models often lead to the temptation of fitting data in order to confirm a priori conclusions, or of mixing up data as if of equal statistic value while they have not at all the same weight. Erroneous interpretations' uncritical repetition for many years "upgraded" them into absolute truth. Another point is endemism vs. europeism. Miocene mammals from Lisbon compared well with corresponding French, contemporaneous taxa, while this was apparently not true for Spanish ones. Too much accent had been put on the endemic character of Spanish, or even regional, mammalian faunas. Nationalist bias and sensationalism also weigh, albeit negatively. Meanwhile nearly all the more evident examples as the rhinoceros Hispanotherium are discredited as Iberian endemisms. Taxa may appear as endemic just because they have not yet been found elsewhere. At least for the medium to large-sized mammals, with their huge geographic distribution, faunal differences depend much more on ecology, climate and environmental conditions. Emphasis on differences may also result from researchers that are often in a precarious situation and need very much to achieve short-term, preferably sensational results. Overvalued differences may mask real similarities. Unethic and not scientific behaviour are further enhanced by "nomina nuda" tricks that may simply be a way to circunvent or cheat the Priority Rule. On the other hand, access to communication networks may present as sensational novelties items that are not new at all, misleading the audience. A new class of "science people" arose, created by the media and not by the value of their real achievements. Discussion is presented on sedimentation processes and discontinuities that are often regarded as absolute precision dating tools, as well as on some geochemical and paleomagnetic interpretations. A very good chronologie frame has been obtained for the basin under study on the basis of an impressive set of data, providing a rather detailed and accurate frame for Miocene marine-continental correlations.

Ultrafine Particles in Ambient Air of an Urban Area: Dose Implications for Elderly

Due to their detrimental effects on human health, the scientific interest in ultrafine particles (UFP) has been increasing, but available information is far from comprehensive. Compared to the remaining population, the elderly are potentially highly susceptible to the effects of outdoor air pollution. Thus, this study aimed to (1) determine the levels of outdoor pollutants in an urban area with emphasis on UFP concentrations and (2) estimate the respective dose rates of exposure for elderly populations. UFP were continuously measured over 3 weeks at 3 sites in north Portugal: 2 urban (U1 and U2) and 1 rural used as reference (R1). Meteorological parameters and outdoor pollutants including particulate matter (PM10), ozone (O3), nitric oxide (NO), and nitrogen dioxide (NO2) were also measured. The dose rates of inhalation exposure to UFP were estimated for three different elderly age categories: 64–70, 71–80, and >81 years. Over the sampling period levels of PM10, O3 and NO2 were in compliance with European legislation. Mean UFP were 1.7 × 104 and 1.2 × 104 particles/cm3 at U1 and U2, respectively, whereas at rural site levels were 20–70% lower (mean of 1 ×104 particles/cm3). Vehicular traffic and local emissions were the predominant identified sources of UFP at urban sites. In addition, results of correlation analysis showed that UFP were meteorologically dependent. Exposure dose rates were 1.2- to 1.4-fold higher at urban than reference sites with the highest levels noted for adults at 71–80 yr, attributed mainly to higher inhalation rates.

25 kV bipolar solid-state Marx generator for industrial food applications

The preliminary results from a bipolar industrial solidstate based Marx generator, developed for the food industry, capable of delivering 25 kV/250 A positive and negative pulses with 12 kW average power, are presented and discussed. This modular topology uses only four controlled switches per cell, 27 cells in total that can be charged up to 1000V each, the two extra cells are used for droop compensation. The triggering signals for all the switches are generated by a FPGA. Considering that biomaterials are similar to resistive type loads, experimental results from this new bipolar 25 kV modulator into resistive loads are presented and discussed.

Control of predators in industrial scale microalgae cultures with Pulsed Electric Fields.

This work describes the utilization of Pulsed Electric Fields to control the protozoan contamination of a microalgae culture, in an industrial 2.7m3 microalgae photobioreactor. The contaminated culture was treated with Pulsed Electric Fields, PEF, for 6h with an average of 900V/cm, 65μs pulses of 50Hz. Working with recirculation, all the culture was uniformly exposed to the PEF throughout the assay. The development of the microalgae and protozoan populations was followed and the results showed that PEF is effective on the selective elimination of protozoa from microalgae cultures, inflicting on the protozoa growth halt, death or cell rupture, without affecting microalgae productivity. Specifically, the results show a reduction of the active protozoan population of 87% after 6h treatment and 100% after few days of normal cultivation regime. At the same time, microalgae growth rate remained unaffected. © 2014 Elsevier B.V.

Epidemiology of Schistosoma mansoni infection in a low-endemic area in Brazil: clinical and nutritional characteristics

A cross-sectional case-control study designed to evaluate the role of malnutrition in the association between the intensity of Schistosoma mansoni infection and clinical schistosomiasis, was conducted in an area with both low frequency of infection and low morbidity of schistosomiasis in Brazil. Cases (256) were patients with a positive stool examination for S. mansoni; their geometrical mean number of eggs/gram of feces was 90. Controls (256) were a random sample of the negative participants paired to the cases by age, sex and length of residence in the area. The clinical signs and symptoms found to be associated with S. mansoni infection, comparing cases and controls, were blood in stools and presence of a palpable liver. A linear trend in the relative odds of these signs and symptoms with increasing levels of infection was detected. Adjusting by the level of egg excretion, the existence of an interaction between palpable liver and ethnic group (white) was suggested. No differences in the nutritional status of infected and non-infected participants were found.

A Força Aérea Portuguesa e o voo nas redes sociais

Trabalho de projeto apresentado à Escola Superior de Comunicação Social como parte dos requisitos para obtenção de grau de mestre em Publicidade e Marketing.

Controlo de conversores de potência genéricos por FPGA

Dissertação para obtenção do grau de Mestre em Engenharia Eletrotécnica Ramo de Automação e Eletrónica Industrial

Cloud-assisted Wireless Body Area Networks

Wireless Body Area Networks (WBANs) have emerged as a promising technology for medical and non-medical applications. WBANs consist of a number of miniaturized, portable, and autonomous sensor nodes that are used for long-term health monitoring of patients. These sensor nodes continuously collect information of patients, which are used for ubiquitous health monitoring. In addition, WBANs may be used for managing catastrophic events and increasing the effectiveness and performance of rescue forces. The huge amount of data collected by WBAN nodes demands scalable, on-demand, powerful, and secure storage and processing infrastructure. Cloud computing is expected to play a significant role in achieving the aforementioned objectives. The cloud computing environment links different devices ranging from miniaturized sensor nodes to high-performance supercomputers for delivering people-centric and context-centric services to the individuals and industries. The possible integration of WBANs with cloud computing (WBAN-cloud) will introduce viable and hybrid platform that must be able to process the huge amount of data collected from multiple WBANs. This WBAN-cloud will enable users (including physicians and nurses) to globally access the processing and storage infrastructure at competitive costs. Because WBANs forward useful and life-critical information to the cloud – which may operate in distributed and hostile environments, novel security mechanisms are required to prevent malicious interactions to the storage infrastructure. Both the cloud providers and the users must take strong security measures to protect the storage infrastructure.

Deterministic approach for multiple-source tsunami hazard assessment for Sines, Portugal

In this paper, we present a deterministic approach to tsunami hazard assessment for the city and harbour of Sines, Portugal, one of the test sites of project ASTARTE (Assessment, STrategy And Risk Reduction for Tsunamis in Europe). Sines has one of the most important deep-water ports, which has oil-bearing, petrochemical, liquid-bulk, coal, and container terminals. The port and its industrial infrastructures face the ocean southwest towards the main seismogenic sources. This work considers two different seismic zones: the Southwest Iberian Margin and the Gloria Fault. Within these two regions, we selected a total of six scenarios to assess the tsunami impact at the test site. The tsunami simulations are computed using NSWING, a Non-linear Shallow Water model wIth Nested Grids. In this study, the static effect of tides is analysed for three different tidal stages: MLLW (mean lower low water), MSL (mean sea level), and MHHW (mean higher high water). For each scenario, the tsunami hazard is described by maximum values of wave height, flow depth, drawback, maximum inundation area and run-up. Synthetic waveforms are computed at virtual tide gauges at specific locations outside and inside the harbour. The final results describe the impact at the Sines test site considering the single scenarios at mean sea level, the aggregate scenario, and the influence of the tide on the aggregate scenario. The results confirm the composite source of Horseshoe and Marques de Pombal faults as the worst-case scenario, with wave heights of over 10 m, which reach the coast approximately 22 min after the rupture. It dominates the aggregate scenario by about 60 % of the impact area at the test site, considering maximum wave height and maximum flow depth. The HSMPF scenario inundates a total area of 3.5 km2. © Author(s) 2015.