The risk-return trade-off in Europe: A temporal and cross-sectional analysis

This paper analyzes the risk-return trade-off in European equities considering both temporal and cross-sectional dimensions. In our analysis, we introduce not only the market portfolio but also 15 industry portfolios comprising the entire market. Several bivariate GARCH models are estimated to obtain the covariance matrix between excess market returns and the industrial portfolios and the existence of a risk-return trade-off is analyzed through a cross-sectional approach using the information in all portfolios. It is obtained evidence for a positive and significant risk-return trade-off in the European market. This conclusion is robust for different GARCH specifications and is even more evident after controlling for the main financial crisis during the sample period.

Evaluation of a program to reduce back pain in nursing personnel

OBJECTIVE: To evaluate the effectiveness of a program designed to reduce back pain in nursing aides. METHODS: Female nursing aides from a university hospital who had suffered episodes of back pain for at least six months were included in the study. Participants were randomly divided into a control group and an intervention group. The intervention program involved a set of exercises and an educational component stressing the ergonomic aspect, administered twice a week during working hours for four months. All subjects answered a structured questionnaire and the intensity of pain was assessed before and after the program using a visual analogue scale (VAS). Student's t-test or the Wilcoxon Rank Sum Test for independent samples, and Chi-square test or the Exact Fisher test for categorical analysis, were used. The McNemar test and the Wilcoxon matched pairs test were used to compare the periods before and after the program. RESULTS: There was a statistically significant decrease in the frequency of cervical pain in the last two months and in the last seven days in the intervention group. There was also a reduction in cervical pain intensity in the two periods (2 months, 7 days) and lumbar pain intensity in the last 7 days. CONCLUSIONS: The results suggest that a program of regular exercise with an emphasis on ergonomics can reduce musculoskeletal symptoms in nursing personnel.

Assessment of a consultation-liaison psychiatry and psychology health care program

OBJECTIVE: To investigate the relevance of subjective criteria adopted by a psychiatry and psychology consultation-liaison service, and their suitability in the evaluation of case registries and objective results. METHODS: Semi-structured interviews were conducted and all supervisors of the university hospital service were interviewed. Routinely collected case registries were also reviewed. Standardized assessment with content analysis for each category was carried out. RESULTS: The results showed distortions in the adopted service focus (doctor-patient relationship) and consultant requests. This focus is more on consulting physician-oriented interventions than on patients. DISCUSSION: Evaluation of the relevance of service criteria could help promoting quality assessment of the services provided, mainly when objective criteria have not yet been established to assure their suitability.

Analysis of residence patterns of Sperm whales (Physeter macrocephalus) in Azores Islands using opportunistic data

27th Annual Conference of the European Cetacean Society. Set��bal, Portugal, 8-10 April 2013.

Data analysis model selection for estimating local population size of the Risso���s dolphin (Grampus griseus) in the Azores

27th Annual Conference of the European Cetacean Society. Set��bal, Portugal, 8-10 April 2013.

Implications of the Intervention Program for Physical Activity (IPPA) in the perception of illness and wellbeing in people with Multiple Sclerosis (MS)

The aim of this study is to examine the implications of the IPPA in the perception of illness and wellbeing in MS patients. Methods - This is a quasi experimental study non-randomized study with 24 MS patients diagnosed at least 1 year before, and with an EDSS score of under 7. We used the IPPA in 3 groups of eight people in 3 Portuguese hospitals (Lisbon, Coimbra, and Porto). The sessions were held once a week for 90 minutes, over a period of 7 weeks. The instruments used were: We asked the subjects the question ���Please classify the severity of your disease?��� and used the Personal Wellbeing Scale (PWS) at the beginning (time A) and end (time B) of the IPPA. We used the SPSS version 20. A non-parametric statistical hypothesis test (Wilcoxon test) was used for the variable analysis. The intervention followed the recommendations of the Helsinki Declaration. Results ��� The results suggest that there are differences between time A and B, the perception of illness decreased (p<0.08), while wellbeing increased (p<0.01). Conclusions: The IPPA can play an important role in modifying the perception of disease severity and personal wellbeing.

On cluster analysis of complex and heterogeneous data

3rd SMTDA Conference Proceedings, 11-14 June 2014, Lisbon Portugal.

Evaluation of dynamic pass-through of carbon prices into electricity prices ��� a cointegrated VECM analysis

This paper addresses the impact of the CO2 opportunity cost on the wholesale electricity price in the context of the Iberian electricity market (MIBEL), namely on the Portuguese system, for the period corresponding to the Phase II of the European Union Emission Trading Scheme (EU ETS). In the econometric analysis a vector error correction model (VECM) is specified to estimate both long���run equilibrium relations and short���run interactions between the electricity price and the fuel (natural gas and coal) and carbon prices. The model is estimated using daily spot market prices and the four commodities prices are jointly modelled as endogenous variables. Moreover, a set of exogenous variables is incorporated in order to account for the electricity demand conditions (temperature) and the electricity generation mix (quantity of electricity traded according the technology used). The outcomes for the Portuguese electricity system suggest that the dynamic pass���through of carbon prices into electricity prices is strongly significant and a long���run elasticity was estimated (equilibrium relation) that is aligned with studies that have been conducted for other markets.

An analysis of teachers' environmental concerns: use of a conceptual change model

Tese de doutoramento em Ci��ncias da Educa����o

Vulnerability of mediterranean watersheds to climate change

Desertification is a critical issue for Mediterranean drylands. Climate change is expected to aggravate its extension and severity by reinforcing the biophysical driving forces behind desertification processes: hydrology, vegetation cover and soil erosion. The main objective of this thesis is to assess the vulnerability of Mediterranean watersheds to climate change, by estimating impacts on desertification drivers and the watersheds��� resilience to them. To achieve this objective, a modeling framework capable of analyzing the processes linking climate and the main drivers is developed. The framework couples different models adapted to different spatial and temporal scales. A new model for the event scale is developed, the MEFIDIS model, with a focus on the particular processes governing Mediterranean watersheds. Model results are compared with desertification thresholds to estimate resilience. This methodology is applied to two contrasting study areas: the Guadiana and the Tejo, which currently present a semi-arid and humid climate. The main conclusions taken from this work can be summarized as follows: ��� hydrological processes show a high sensitivity to climate change, leading to a significant decrease in runoff and an increase in temporal variability; ��� vegetation processes appear to be less sensitive, with negative impacts for agricultural species and forests, and positive impacts for Mediterranean species; ��� changes to soil erosion processes appear to depend on the balance between changes to surface runoff and vegetation cover, itself governed by relationship between changes to temperature and rainfall; ��� as the magnitude of changes to climate increases, desertification thresholds are surpassed in a sequential way, starting with the watersheds��� ability to sustain current water demands and followed by the vegetation support capacity; ��� the most important thresholds appear to be a temperature increase of +3.5 to +4.5 ��C and a rainfall decrease of -10 to -20 %; ��� rainfall changes beyond this threshold could lead to severe water stress occurring even if current water uses are moderated, with droughts occurring in 1 out of 4 years; ��� temperature changes beyond this threshold could lead to a decrease in agricultural yield accompanied by an increase in soil erosion for croplands; ��� combined changes of temperature and rainfall beyond the thresholds could shift both systems towards a more arid state, leading to severe water stresses and significant changes to the support capacity for current agriculture and natural vegetation in both study areas.

Dynamical analysis of the global warming

Global warming is a major concern nowadays. Weather conditions are changing, and it seems that human activity is one of the main causes. In fact, since the beginning of the industrial revolution, the burning of fossil fuels has increased the nonnatural emissions of carbon dioxide to the atmosphere. Carbon dioxide is a greenhouse gas that absorbs the infrared radiation produced by the reflection of the sunlight on the Earth���s surface, trapping the heat in the atmosphere. Global warming and the associated climate changes are being the subject of intensive research due to their major impact on social, economic, and health aspects of human life. This paper studies the global warming trend in the perspective of dynamical systems and fractional calculus, which is a new standpoint in this context. Worldwide distributed meteorological stations and temperature records for the last 100 years are analysed. It is shown that the application of Fourier transforms and power law trend lines leads to an assertive representation of the global warming dynamics and a simpler analysis of its characteristics.

Analysis of temperature time-series: embedding dynamics into the MDS method

Global warming and the associated climate changes are being the subject of intensive research due to their major impact on social, economic and health aspects of the human life. Surface temperature time-series characterise Earth as a slow dynamics spatiotemporal system, evidencing long memory behaviour, typical of fractional order systems. Such phenomena are difficult to model and analyse, demanding for alternative approaches. This paper studies the complex correlations between global temperature time-series using the Multidimensional scaling (MDS) approach. MDS provides a graphical representation of the pattern of climatic similarities between regions around the globe. The similarities are quantified through two mathematical indices that correlate the monthly average temperatures observed in meteorological stations, over a given period of time. Furthermore, time dynamics is analysed by performing the MDS analysis over slices sampling the time series. MDS generates maps describing the stations��� locus in the perspective that, if they are perceived to be similar to each other, then they are placed on the map forming clusters. We show that MDS provides an intuitive and useful visual representation of the complex relationships that are present among temperature time-series, which are not perceived on traditional geographic maps. Moreover, MDS avoids sensitivity to the irregular distribution density of the meteorological stations.

Boas pr��ticas de igualdade de g��nero e sua rela����o nos dom��nios da satisfa����o laboral e clima organizacional

A Igualdade entre Homens e Mulheres e a n��o discrimina����o constituem princ��pios fundamentais da Constitui����o da Republica Portuguesa e do Tratado que institui a Uni��o Europeia ��� Tratado de Lisboa. A desigualdade entre Homens e Mulheres constitui uma viola����o dos direitos fundamentais, e imp��e um pesado custo �� economia na medida em que se desaproveitam talentos em fun����o do g��nero. A promo����o de uma efetiva igualdade entre Homens e Mulheres constitui um dever fundamental do Estado. A promo����o da participa����o ativa de Homens e Mulheres na vida pol��tica, ao n��vel da administra����o central, regional e local, �� tamb��m um forte indicador da qualidade da democracia de um estado. Tomando por base a tem��tica da Igualdade de G��nero, o Roteiro para a Igualdade entre Homens e Mulheres (2006-2010), o pacto Europeu para a Igualdade entre os Sexos (2006), a Estrat��gia para a Igualdade entre Homens e Mulheres 2010-2015 que elencam a����es consideradas priorit��rias ��� igualdade na independ��ncia econ��mica; igualdade na remunera����o por trabalho igual e por trabalho de igual valor; igualdade na tomada de decis��es; promo����o da dignidade e a integridade, p��r fim �� viol��ncia de g��nero; e quest��es horizontais ��� pap��is desempenhados por Homens e Mulheres, legisla����o, governa����o e instrumentos no dom��nio da igualdade entre Homens e Mulheres, o objeto deste estudo centra-se na atividade do Estado Portugu��s, mais concretamente ao n��vel local. Procurou-se enquadrar esta tem��tica na Gest��o dos Recursos Humanos, na busca de um conhecimento mais aprofundado sobre a implementa����o de Boas Pr��ticas de Igualdade de G��nero e a sua rela����o nos dom��nios da Satisfa����o Laboral assim como no Clima Organizacional. O presente estudo exp��e uma abordagem quantitativa, de car��cter descritivo, explorat��rio, correlacional e preditivo. O tratamento estat��stico realizou-se com recurso ao programa IBM SPSS Statistics, vers��o 21. Os resultados encontrados apontam para uma associa����o positiva entre a exist��ncia de boas pr��ticas de igualdade de g��nero e a satisfa����o laboral dos trabalhadores, assim como do clima organizacional. S��o apresentadas pistas para a interven����o no dom��nio da fun����o da gest��o e desenvolvimento dos recursos humanos.

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.

Association between food assistance program participation and overweight

OBJECTIVE The objective of this study was to investigate the association between food assistance program participation and overweight/obesity according to poverty level. METHODS A cross-sectional analysis of data from 46,217 non-pregnant and non-lactating women in Lima, Peru was conducted; these data were obtained from nationally representative surveys from the years 2003, 2004, 2006, and 2008-2010. The dependent variable was overweight/obesity, and the independent variable was food assistance program participation. Poisson regression was used to stratify the data by family socioeconomic level, area of residence (Lima versus the rest of the country; urban versus rural), and survey year (2003-2006 versus 2008-2010). The models were adjusted for age, education level, urbanization, and survey year. RESULTS Food assistance program participation was associated with an increased risk of overweight/obesity in women living in homes without poverty indicators [prevalence ratio (PR) = 1.29; 95% confidence interval (CI) 1.06;1.57]. When stratified by area of residence, similar associations were observed for women living in Lima and urban areas; no associations were found between food assistance program participation and overweight/obesity among women living outside of Lima or in rural areas, regardless of the poverty status. CONCLUSIONS Food assistance program participation was associated with overweight/obesity in non-poor women. Additional studies are required in countries facing both aspects of malnutrition.