Indexing and active fund management: International evidence

Author's pre-print

Enhancement of an implemented rating model and impact on existing risk management processes: A hands-on approach from financial supplier risk management within the automotive industry

The purpose of this paper is to conduct a methodical drawback analysis of a financial supplier risk management approach which is currently implemented in the automotive industry. Based on identified methodical flaws, the risk assessment model is further developed by introducing a malus system which incorporates hidden risks into the model and by revising the derivation of the most central risk measure in the current model. Both methodical changes lead to significant enhancements in terms of risk assessment accuracy, supplier identification and workload efficiency.

How to optimize Lipton’s business model in order to stimulate tea consumption in Portugal and increase Lipton Leaf tea market share?: The importance of distribution and sales channels management in a B2B2C market

Field Lab Entrepreneurial Innovative Ventures

Definição de um modelo de incentivo de profissionais de saúde em contexto de integração vertical e financiamento capitativo de cuidados de saúde

RESUMO - Contexto Os indivíduos, tal como as instituições, não são imunes a incentivos. No entanto, enquanto os modelos de incentivos das instituições têm sido alvo de diferentes evoluções, o mesmo não se verificou ao nível dos profissionais. Esta situação não se figura compatível com a complexidade de gestão de recursos humanos, devendo ser obviada para potenciar o alinhamento entre os interesses institucionais e os dos próprios profissionais. Objectivos Estudar a atribuição de incentivos a profissionais de saúde no contexto de organizações com integração vertical de cuidados. Metodologia A metodologia adoptada compreendeu três fases. Numa primeira procedeu-se à revisão sistemática de literatura relativa à: (1) construção de modelos de incentivo a profissionais em diferentes sistemas de saúde e tipo de prestadores; e (2) identificação de medidas de custo-efectividade comprovada. Tendo por base esta evidência, a par de documentação oficial ao nível do modelo de financiamento das ULS, procedeu-se, numa segunda fase, à construção de um modelo de incentivo base com recurso à ferramenta Microsoft Excel. Por último, numa terceira etapa, procedeu-se à adaptação do modelo base construído na etapa transacta tendo por base informação obtida mediante a realização de um estudo retrospectivo in loco na ULS do Baixo Alentejo (ULSBA). Em adição, procedeu-se à estimativa do impacto na perspectiva da ULS e dos profissionais para o cenário base e diversas análises de sensibilidade. Resultados No que respeita à estrutura, o modelo base de incentivos a profissionais apresenta 44 indicadores, distribuídos por cinco dimensões de análise, sendo que 28 indicadores (63,6%) são de processo e 14 (31,8%) de resultado. Relativamente às dimensões em análise, verifica-se uma predominância de indicadores ao nível da dimensão eficiência e qualidade assistencial, totalizando 35 (i.e. 79,5% dos 44 indicadores). No que respeita ao destinatário, 14 indicadores (31,8%) apresentam uma visão holística da ULS, 17 (38,6%) encontram-se adstritos unicamente aos cuidados primários e os remanescentes 13 (29,5%) aos cuidados hospitalares. Cerca de 85% dos actuais incentivos da ULSBA decorre da unidade de pagamento salarial secundada pelo pagamento de suplementos (12%). Não obstante, o estudo retrospectivo da ULSBA confirmou o cenário expectável de ausência de um modelo de incentivo homogéneos e transversal à ULS, transparecendo importantes assimetrias entre diferentes unidades prestadoras e/ou profissionais de saúde. De forma relevante importa apontar a insuficiência de incentivos capitacionais (ao contrário do que sucede com o modelo de incentivo da própria ULSBA) ou adstritos a índices de desempenho. Tendo em consideração o modelo de incentivo concebido e adaptado à realidade da ULSBA, a par do plano de implementação, estima-se que o modelo de incentivos gere: (1) poupanças na perspectiva da ULS (entre 2,5% a 3,5% do orçamento global da ULSBA); e (2) um incremento de remuneração ao nível dos profissionais (entre 5% a 15% do salario base). O supracitado – aparentemente contraditório - decorre da aposta em medidas de custo-efectividade contrastada e um alinhamento entre o modelo proposto e o vigente para o próprio financiamento da unidade, apostando numa clara estratégia de ganhos mútuos. As análises de sensibilidade realizadas permitem conferir a solidez e robustez do modelo a significativas variações em parâmetros chave.

The effect of ownership concentration on management behavior in Belgian banks: A case study

Double Degree. A Work Project, presented as part of the requirements for the Award of a Master’s Degree in Finance from NOVA – School of Business and Economics and a Masters Degree in Management from Louvain School of Management

Business continuity management at Banif: Defining and selecting recovery strategies

This project aims to delineate recovery strategies for a Portuguese Bank, as a way to increase its preparedness towards unexpected disruptive events, thus avoiding an operational crisis escalation. For this purpose, Business Continuity material was studied, a risk assessment performed, a business impact analysis executed and new strategic framework for selecting strategies adopted. In the end, a set of recovery strategies were chosen that better represented the Bank’s appetite for risk, and recommendations given for future improvements.

Strategic account management: the path to gain customer loyalty

The account management field works closely with the sales team, serving as the customer’s primary point of contact. This project’s purpose was to understand if shifting the account management from brand centric to customer centric, would be the best fit for a Portuguese Pharmaceutical company. This customer centric approach - Strategic Account Management (SAM) - was studied, understanding the implicated trade-offs to the company. The workforce was probed about the project and their comments were analyzed. The conclusion points to an implementation of SAM and proposes the adaptations to follow in order to smooth the change.

How to improve Sonae's processes of suppliers of services' management?

Sonae is one of the greatest retailers in Portugal. As the business got bigger, it centralized operations. Direcção de Serviços Administrativos processes all invoices sent by suppliers. However, there are many which deliver errors and are not processed automatically. As a result, there are lost invoices and suppliers who are not paid, while the company’s accountability becomes less transparent. Such is due to a lack of proactive attitude towards suppliers as well as to a lack of incentives for employees to perform well. Great savings may be achieved with little effort, if the right things are measured so that the right tools may be applied.

Exporting a model of integrated disease management: A cross-case study analysis and application to Associação Protectora dos Diabéticos de Portugal

Although literature is lacking in the topic of internationalization of services, we manage to apply both the Uppsala model and the Eclectic Theory to the healthcare service. A cross-case study analysis with three international hospitals is done in order to define an internationalization pattern and conditions for a successful process. This is then applied to Associação Protectora dos Diabéticos de Portugal with the purpose of defining an internationalization strategy to the Association.

Challenge in the management of infective endocarditis with multiple valvular involvement

We describe the case of a 41-year-old man with congenital heart disease and infective endocarditis (IE), who presented multiple vegetations attached to the pulmonary, mitral, and aortic valves. Three valve replacements were performed, but the patient developed an abscess at the mitral-aortic intervalvular fibrosa and died due to sepsis. We briefly discuss the indications for surgery in IE, emphasizing its role in the treatment of uncontrolled infection.

Towards an integrated technology management across the rail supply chain extended to society: building the case study on high-speed trains

The present paper was prepared for the course “Project III”, with the supervision of Prof. António Moniz, reporting on the author speaking notes at the Winter School on Technology Assessment, 6-7 December 2010, as part of the Doctoral Programme on Technology Assessment at FCT-UNL.

Earnings overseas and cash holdings

I investigate the impact of foreign pre-tax income on the total amount of cash held by companies and on the amount of cash that is held in companies’ foreign subsidiaries. I also investigate the impact of the existence and amount of cash held on companies’ foreign subsidiaries in the composition of cash holdings in terms of risk and liquidity. Using a sample of 100 largest U.S. non-financial and non-utilities companies I find that companies with higher earnings overseas present higher cash reserves and invest a higher fraction of their cash in risky assets. My evidence suggests that companies have a different optimization strategy for cash overseas, in which precautionary motives are not the main driver for holding cash.

Wealth Management in Africa: The Cape Verde Opportunity

This work project consists of a comprehensive study of the possibility of opening a Wealth Management (WM) firm located in Cape Verde (CV), and was made at the request of NovoBanco’s Research Sectorial team. WM is a growing industry that consists in the set of financial services provided to wealthy clients. After taking into account the expected industry growth of the Sub-Saharan region, the preferences of the African wealthy, the current industry structure, and the advantages and disadvantages of locating a WM business in CV, it is concluded that a business opportunity exists. The reasons for thus, along with relevant recommendations, including which services a new business should offer and whom to target specifically, are presented in the final section.

Knowledge management framework based on brain models and human physiology

The life of humans and most living beings depend on sensation and perception for the best assessment of the surrounding world. Sensorial organs acquire a variety of stimuli that are interpreted and integrated in our brain for immediate use or stored in memory for later recall. Among the reasoning aspects, a person has to decide what to do with available information. Emotions are classifiers of collected information, assigning a personal meaning to objects, events and individuals, making part of our own identity. Emotions play a decisive role in cognitive processes as reasoning, decision and memory by assigning relevance to collected information. The access to pervasive computing devices, empowered by the ability to sense and perceive the world, provides new forms of acquiring and integrating information. But prior to data assessment on its usefulness, systems must capture and ensure that data is properly managed for diverse possible goals. Portable and wearable devices are now able to gather and store information, from the environment and from our body, using cloud based services and Internet connections. Systems limitations in handling sensorial data, compared with our sensorial capabilities constitute an identified problem. Another problem is the lack of interoperability between humans and devices, as they do not properly understand human’s emotional states and human needs. Addressing those problems is a motivation for the present research work. The mission hereby assumed is to include sensorial and physiological data into a Framework that will be able to manage collected data towards human cognitive functions, supported by a new data model. By learning from selected human functional and behavioural models and reasoning over collected data, the Framework aims at providing evaluation on a person’s emotional state, for empowering human centric applications, along with the capability of storing episodic information on a person’s life with physiologic indicators on emotional states to be used by new generation applications.