Modelo de avaliação de risco no sector bancário português

A globalização dos sistemas financeiros, ao longo dos anos, tem estimulado uma crescente necessidade de supervisão bancária nas instituições financeiras. O Comité de Supervisão Bancária de Basileia tem tido um papel crucial nesta área, estabelecendo princípios por via dos seus acordos entre as várias entidades nacionais de regulação e supervisão das maiores economias mundiais. Em 1988, foi criado o Acordo de Basileia (Basileia I) pelo Comité de Supervisão Bancária de forma a harmonizar os padrões de supervisão bancária. Este acordo estabeleceu mínimos de solvabilidade para o sistema bancário internacional no sentido de reforçar a sua solidez e estabilidade. Com o desenvolvimento de novas potências económicas e novas necessidades regulamentares, em Junho de 2004, foi publicado o novo Acordo de Capital – o Basileia II. Este acordo pretendia tornar os requisitos de capital mais sensíveis ao risco, promover a atuação das autoridades de supervisão e a disciplina de mercado (através do seu Pilar II) e encorajar a capacidade de cada instituição mensurar e gerir o seu risco. Em Setembro de 2010, o Acordo de Basileia III, com adoção prevista até 2019, veio reforçar estas medidas com a criação de um quadro regulamentar e de supervisão mais sólido, por parte das instituições de crédito. Surge, assim neste contexto, o Modelo de Avaliação de Risco (MAR) para o sector bancário. Em Portugal, o MAR tem como objetivo avaliar o perfil de risco das instituições de crédito, sujeitas à supervisão do Banco de Portugal, assim como apresentar o perfil de risco e a solidez da situação financeira de cada instituição de crédito. Este trabalho pretende avaliar o surgimento e a caracterização deste modelo e identificar as variáveis a ter em conta nos modelos de avaliação de risco a nível qualitativo e quantitativo.

Differences in ERP use and value across Iberian Manufacturing and Services SMEs

Enterprise Resource Planning (ERP) system literature reports very little research on post-adoption stages, that is, actual usage and value. Even fewer studies focus on the specificities of an industry analysis. Based on the Technology-Organizational-Environment (TOE) framework and the Resource-Based View (RBV) theory, we develop a research model to measure and examine determinants of ERP use and value and their impact in the Iberian region (Portugal and Spain) across Manufacturing and Services industries in Small and Medium Enterprises (SMEs). The empirical test was conducted through structural equation modelling, using data from 261 firms in the peninsula in the Manufacturing and Service industries. Results show that amongst ERP use determinants, Training is the most important determinant for Service firms and Compatibility for Manufacturing firms. Firm size, Analytics, and Collaboration contribute to ERP Value in both industries, with Analytics being more important for the Service industry. The paper provides insight into which determinants contribute to ERP use and ERP value in Iberian Manufacturing and Services SMEs, offering managerial and academic implications.

The impact of credit conditions on market liquidity – a case for European stock markets

The recent financial crisis has drawn the attention of researchers and regulators to the importance of liquidity for stock market stability and efficiency. The ability of market-makers and investors to provide liquidity is constrained by the willingness of financial institutions to supply funding capital. This paper sheds light on the liquidity linkages between the Central Bank, Monetary Financial Institutions and market-makers as crucial elements to the well-functioning of markets. Results suggest the existence of causality between credit conditions and stock market liquidity for the Eurozone between 2003 and 2015. Similar evidence is found for the UK during the post-crisis period. Keywords: stock

Definition, implementation and management of m.commerce apps and services

This report aims to analyse the Definition, Implementation and Management of Vodafone Portugal’s Apps and Services, so that possible ways of improvement can be suggested. To do so, Vodafone’s strategy regarding the development/ implementation of specific Apps and Services, as well as the strategy of its competitors are going to be analysed. This analysis is going to be complemented with insights from some key-persons of Vodafone’s Consumer Business Unit team in Portugal. Findings suggest that Vodafone is ahead of its competitors when it comes to developing the most innovative Apps and Services, but there is always room for improvements, especially when it comes to communication.

Desarrollo sustentable de Productos y Servicios de Camélidos orientados al mercado en la región andina (DECAM). Sustainable Development Products and Services Marketed oriented in Andean Region

Este proyecto cuenta con el financiamiento del sistema INCO de la Unión Europea e incluye 5 contrapartes europeas, y Bolivia y Perú como contrapartes americanos. Consta de cuatro paquetes: producto, mercado, difusión y coordinación. En el primer paquete se desarrollan fundamentalmente los aspectos relacionados con la carne fresca y los productos cárnicos tanto tradicionales como nuevos a desarrollar. Se realizan faenas protocolizadas y espontáneas comparando animales con distintos tratamientos nutricionales de edades entre 19-21 meses. Se realizan análisis de calidad de carne y paneles de degustación. Los productos tradicionales como el charqui se evalúan en su forma tradicional y se implementan sistemas mejorados como desecadores solares. Los chacinados no son tradicionales en el altiplano por eso se realizan en La Pampa con la idea de transferir la tecnología desarrollada. La evaluación de calidad de la carne incluye técnicas de evaluación del animal en pié como la conservación morfológica y la ecografía para predecir calidad de res en el animal vivo. Estas observaciones se corroboran a la faena donde se realiza toda la batería de evaluaciones de calidad de la res.

Academic Institutions and the Olympic Movement

This paper was presented in the V Forum on Sport, Education and Culture Forum by the IOC undertaken in Beijing, in October, 2006. This aim of this paper is to explore the potential of the relations between the Olympic Movement and academic institutions, and in particular the role of universities.

Institutions and the Scale Effect

Growth models which imply a scale effect are commonly refuted on the basis of empirical evidence. A focus on the extent of the market as opposed to the scale of the country has led recent studies to reconsider the role that country scale plays when conditioning on other factors. We consider a variant of a simple learning by doing model to account for the potential role for institutions in determining the strength – and direction – of the scale effect. Using cross-country data, we find a significant interaction between property rights institutions and the effect of scale on long-run growth: In countries with poor property rights institutions, scale is positively related with income per capita; where property rights institutions are good, higher scale is associated with lower per capita ncomes. We find no evidence of such role for contracting institutions.

Institutions and Economic Development. New tests and new doubts.

Is institutional quality a major driver of economic development? This paper tackles the question by focusing on the within-country variation of growth rates of GDP per capita. While previous attempts using this methodology have controlled for many of the standard de- terminants of the empirical growth literature, we argue that such ap- proach is not adequate if good institutions are the main reason behind decisions to invest in human or physical capital accumulation or to engage in international trade. Our regressions exclude the proximate causes of growth in order to estimate the overall e¤ect of institutional quality. Perhaps surprisingly, we nd no support for the thesis that institutional quality improves economic growth. These results encourage a reconsideration of the evidence provided elsewhere in the literature.

Contracting Institutions and Development

The quality of contracting institutions has been thought to be of second-order importance next to the impact that good property rights institutions can have on long-run growth. Using a large range of proxies for each type of institution, we find a robust negative link between the quality of contracting institutions and long-run growth when we condition on property rights and a number of additional macroeconomic variables. Although the result remains something of a puzzle, we present evidence which suggests that only when property rights institutions are good do contracting institutions appear also to be good for development. Good contracting institutions can reduce long-run growth when property rights are not secured, presumably because the gains from the (costly) contracting institutions cannot be realised. This suggests that contracting institutions can benefit growth, and that the sequence of institutional change can matter.

The economics of power and control

John Hardman Moore outlines his joint research with Oliver Hart, looking at the economics of power and control and the foundations of contractual incompleteness

Environmental Tax on Products and Services Based on Their Carbon Footprint: A Case Study of the Pulp and Paper Sector

The main aim of this work is to define an environmental tax on products and services based on their carbon footprint. We examine the relevance of conventional life cycle analysis (LCA) and environmentally extended input-output analysis (EIO) as methodological tools to identify emission intensities of products and services on which the tax is based. The short-term price effects of the tax and the policy implications of considering non-GHG are also analyzed. The results from the specific case study on pulp production show that the environmental tax rate based on the LCA approach (1,8%) is higher than both EIO approaches (0,8% for product and 1,4% for industry approach), but they are comparable. Even though LCA is more product specific and provides detailed analysis, EIO would be the more relevant approach to apply economy wide environmental tax. When the environmental tax considers non-GHG emissions instead of only CO2, sectors such as agriculture, mining of coal and extraction of peat, and food exhibit higher environmental tax and price effects. Therefore, it is worthwhile for policy makers to pay attention on the implication of considering only CO2 tax or GHG emissions tax in order for such a policy measure to be effective and meaningful. Keywords: Environmental tax; Life cycle analysis; Environmental input-output analysis.

SLÃÅN: Smoking Patterns in Ireland: Implications for policy and services

SLÃÅN: Smoking Patterns in Ireland: Implications for policy and services Click here to download PDF 1.1mb

Are We Choosing Health? The Impact of policy on the delivery of health improvement programmes and services

The Audit Commission and Healthcare Commission have jointly published 'Are we choosing health? The impact of policy on the delivery of health improvement programmes and services'. The report assesses the impact government policy has had over the past decade on: narrowing health inequalities; improving sexual and mental health; and reducing smoking, alcohol misuse and obesity.