Analysis of stock market indices through multidimensional scaling

We propose a graphical method to visualize possible time-varying correlations between fifteen stock market values. The method is useful for observing stable or emerging clusters of stock markets with similar behaviour. The graphs, originated from applying multidimensional scaling techniques (MDS), may also guide the construction of multivariate econometric models.

Characterization of cleaners accidents in the Portuguese service sector

This paper characterizes work accidents at Portuguese industrial cleaning companies, operating in the service sector, through the application of ESAW methodology. Data was codified based on the analysis of 748 accident claims to insurance companies (number of days lost 1 working day) in 3 large industrial cleaning companies for the period 2001-2003. Slipping and falling in the same level was the main deviation from the normal working process in the moment of the accident (in 25% of the accidents); uncoordinated movements was the second cause of accidents (14%); falls of persons to a lower level was the third cause of accidents (~10%), including falls from stairs (~7%) and falls from ladders and mobile ladders (~2%); globally, body movement under or with physical stress, including lifting, carrying, putting down, bending down, twisting, turning, trading badly, twisting leg or ankle and slipping without falling, were the cause in 17% of the accidents. Lower limbs were injured in ~25% of the accidents, hand and fingers in ~14%, the eye in ~4% and the back in ~9% of the accidents. An incidence rate of 3,580 accidents/100,000 employees was found to the sector (2003 data).

Multidimensional scaling analysis of electricity market prices

This paper studies the impact of energy and stock markets upon electricity markets using Multidimensional Scaling (MDS). Historical values from major energy, stock and electricity markets are adopted. To analyze the data several graphs produced by MDS are presented and discussed. This method is useful to have a deeper insight into the behavior and the correlation of the markets. The results may also guide the construction models, helping electricity markets agents hedging against Market Clearing Price (MCP) volatility and, simultaneously, to achieve better financial results.

Problems in the regulatory policy of the drug market

OBJECTIVE Analyze the implementation of drug price regulation policy by the Drug Market Regulation Chamber.METHODS This is an interview-based study, which was undertaken in 2012, using semi-structured questionnaires with social actors from the pharmaceutical market, the pharmaceuticals industry, consumers and the regulatory agency. In addition, drug prices were compiled based on surveys conducted in the state of Sao Paulo, at the point of sale, between February 2009 and May 2012.RESULTS The mean drug prices charged at the point of sale (pharmacies) were well below the maximum price to the consumer, compared with many drugs sold in Brazil. Between 2009 and 2012, 44 of the 129 prices, corresponding to 99 drugs listed in the database of compiled prices, showed a variation of more than 20.0% in the mean prices at the point of sale and the maximum price to the consumer. In addition, many laboratories have refused to apply the price adequacy coefficient in their sales to government agencies.CONCLUSIONS The regulation implemented by the pharmaceutical market regulator was unable to significantly control prices of marketed drugs, without succeeding to push them to levels lower than those determined by the pharmaceutical industry and failing, therefore, in its objective to promote pharmaceutical support for the public. It is necessary reconstruct the regulatory law to allow market prices to be reduced by the regulator as well as institutional strengthen this government body.

Market of resources for virtual enterprise integration

Most definitions of virtual enterprise (VE) incorporate the idea of extended and collaborative outsourcing to suppliers and subcontractors in order to achieve a competitive response to market demands (Webster, Sugden, & Tayles, 2004). As suggested by several authors (Browne & Zhang, 1999; Byrne, 1993; Camarinha-Matos & Afsarmanesh, 1999; Cunha, Putnik, & Ávila, 2000; Davidow & Malone, 1992; Preiss, Goldman, & Nagel, 1996), a VE consists of a network of independent enterprises (resources providers) with reconfiguration capability in useful time, permanently aligned with the market requirements, created to take profit from a specific market opportunity, and where each participant contributes with its best practices and core competencies to the success and competitiveness of the structure as a whole. Even during the operation phase of the VE, the configuration can change, to assure business alignment with the market demands, traduced by the identification of reconfiguration opportunities and continuous readjustment or reconfiguration of the VE network, to meet unexpected situations or to keep permanent competitiveness and maximum performance (Cunha & Putnik, 2002, 2005a, 2005b).

A Web-Based geographical information system prototype on Portuguese traditional food products

Dissertation submitted in partial fulfilment of the requirements for the Degree of Master of Science in Geospatial Technologies

A importância da gestão baseada na criação de valor para o acionista (Value-Based Management): o caso do Grupo Galp Energia

A avaliação de empresas sempre constituiu um tema de elevada reflexão, sendo que vários especialistas tentam encontrar os modelos que melhor se adaptam a situações específicas e para as quais precisam de determinar um valor. No contexto empresarial português começa a ganhar significância a prática da gestão orientada para a criação de valor (Value-Based Management). O conceito de Value-Based Management assistiu a um particular desenvolvimento nos últimos 20 anos como resultado da globalização e desregulamentação dos mercados financeiros, dos avanços nas tecnologias de informação e do aumento da importância dos investidores institucionais. Vários analistas apresentaram evidência de que as empresas que adotam sistemas VBM melhoram o seu desempenho económico em relação a outras de dimensão semelhante no mesmo setor. É neste contexto que o EVA (Economic Value Added) se apresenta como uma métrica de desempenho privilegiada nos processos de controlo das decisões estratégicas tomadas. No presente trabalho pretendemos abordar o conceito da gestão baseada na criação de valor e a sua importância para o acionista, o que implica rever outros modelos de avaliação tradicionais baseados no valor contabilístico. Como métrica de avaliação do desempenho passado da empresa ao nível da criação de valor vamos dar particular importância ao estudo do EVA, fazendo referência à possível correlação entre esta métrica e o MVA (Market Value Added). O objetivo principal é analisar empiricamente a relação do EVA como medida de desempenho associada à criação de valor para os acionistas com a performance da empresa. Com efeito, vamos efetuar um estudo de caso, que vai incidir sobre um grupo empresarial português, referência no seu setor de atividade, o Grupo Galp Energia, cotado na Euronext Lisbon. Pensamos que a crescente prática da gestão baseada na criação de valor nas empresas cotadas em Portugal e a necessidade de aferir os resultados desta, tornam esta investigação pertinente, para além do facto de serem poucos os estudos empíricos à questão da criação de valor e a sua correlação com o valor acrescentado de mercado e com o valor de mercado dos capitais próprios das empresas cotadas em Portugal.

Licensing in an international market

We study the effects of entry of a foreign firm on domestic welfare in the presence of licensing, when the entrant is technologically superior to the incumbent. We show that foreign entry increases domestic welfare for sufficiently large technological differences between the firms under both fixed-fee licensing and royalty licensing.

An interdisciplinary approach to the study of colour in portuguese manuscript illuminations

Dissertação apresentada para obtenção do Grau de Doutor em Conservação e Restauro, especialidade Teoria, História e Técnicas, pela Universidade Nova de Lisboa, Faculdade de Ciências e Tecnologia

Photographic source for the history of portuguese-speaking Africa, 1870-1914

History in Africa, n.18, pág.67-82

Exposure to airborne ultrafine particles from cooking in portuguese homes

Cooking was found to be a main source of submicrometer and ultrafine aerosols from gas combustion in stoves. Therefore, this study consisted of the determination of the alveolar deposited surface area due to aerosols resulting from common domestic cooking activities (boiling fish, vegetables, or pasta, and frying hamburgers and eggs). The concentration of ultrafine particles during the cooking events significantly increased from a baseline of 42.7 mu m(2)/cm(3) (increased to 72.9 mu m(2)/cm(3) due to gas burning) to a maximum of 890.3 mu m(2)/cm(3) measured during fish boiling in water, and a maximum of 4500 mu m(2)/cm(3) during meat frying. This clearly shows that a domestic activity such as cooking can lead to exposures as high as those of occupational exposure activities.

Economies of scale and scope in the provision of diagnostic techniques and therapeutic services in Portuguese hospitals

This paper analyses the provision of auxiliary clinical services that are typically carried out within the hospital. We estimate a exible cost function for the three most important (cost- wise) diagnostic techniques and therapeutic services in Portuguese hospitals: Clinical Pathology, Medical Imaging and Physical Medicine and Rehabilitation. Our objective in carrying out this estimation is the evaluation of economies of scale and scope in the provision of these services. For all services, we nd evidence of ray economies of scale and some evidence of economies of scope. These results have important policy implications and can be related to the ongoing discussion of where and how should hospitals provide these services.

C3G - A portuguese collaboration for geology, geodesy and geophysics

Portugal joined the effort to create the EPOS infrastructure in 2008, and it became immediately apparent that a national network of Earth Sciences infrastructures was required to participate in the initiative. At that time, FCT was promoting the creation of a national infrastructure called RNG - Rede Nacional de Geofísica (National Geophysics Network). A memorandum of understanding had been agreed upon, and it seemed therefore straightforward to use RNG (enlarged to include relevant participants that were not RNG members) as the Portuguese partner to EPOS-PP. However, at the time of signature of the EPOS-PP contract with the European Commission (November 2010), RNG had not gained formal identity yet, and IST (one of the participants) signed the grant agreement on behalf of the Portuguese consortium. During 2011 no progress was made towards the formal creation of RNG, and the composition of the network – based on proposals submitted to a call issued in 2002 – had by then become obsolete. On February 2012, the EPOS national contact point was mandated by the representatives of the participating national infrastructures to request from FCT the recognition of a new consortium - C3G, Collaboratory for Geology, Geodesy and Geophysics - as the Portuguese partner to EPOS-PP. This request was supported by formal letters from the following institutions: ‐ LNEG. Laboratório Nacional de Energia e Geologia (National Geological Survey); ‐ IGP ‐ Instituto Geográfico Português (National Geographic Institute); ‐ IDL, Instituto Dom Luiz – Laboratório Associado ‐ CGE, Centro de Geofísica de Évora; ‐ FCTUC, Faculdade de Ciências e Tecnologia da Universidade de Coimbra; ‐ Instituto Superior de Engenharia de Lisboa; ‐ Instituto Superior Técnico; ‐ Universidade da Beira Interior. While Instituto de Meteorologia (Meteorological Institute, in charge of the national seismographic network) actively supports the national participation in EPOS, a letter of support was not feasible in view of the organic changes underway at the time. C3G aims at the integration and coordination, at national level, of existing Earth Sciences infrastructures, namely: ‐ seismic and geodetic networks (IM, IST, IDL, CGE); ‐ rock physics laboratories (ISEL); ‐ geophysical laboratories dedicated to natural resources and environmental studies; ‐ geological and geophysical data repositories; ‐ facilities for data storage and computing resources. The C3G - Collaboratory for Geology, Geodesy and Geophysics will be coordinated by Universidade da Beira Interior, whose Department of Informatics will host the C3G infrastructure.