A JOINT EXPERIMENTAL ANALYSIS OF INVESTOR BEHAVIOR IN IPO PRICING METHODS

This article jointly examines the differences of laboratory versions of the Dutch clock open auction, a sealed-bid auction to represent book building, and a two-stage sealed bid auction to proxy for the “competitive IPO”, a recent innovation used in a few European equity initial public offerings. We investigate pricing, seller allocation, and buyer welfare allocation efficiency and conclude that the book building emulation seems to be as price efficient as the Dutch auction, even after investor learning, whereas the competitive IPO is not price efficient, regardless of learning. The competitive IPO is the most seller allocative efficient method because it maximizes offer proceeds. The Dutch auction emerges as the most buyer welfare allocative efficient method. Underwriters are probably seeking pricing efficiency rather than seller or buyer welfare allocative efficiency and their discretionary pricing and allocation must be important since book building is prominent worldwide.

Preliminary Overview over Requirements Regarding Tools and Methods Derived from LUDA Cases

LUDA is a research project of Key Action 4 "City of Tomorrow & Cultural Heritage" of the programme "Energy, Environment and Sustainable Development" within the Fifth Framework Programme of the European Commission

Seasonal variation of total particulate matter and children respiratory diseases at Lisbon primary schools using passive methods

In this work, 14 primary schools of Lisbon city, Portugal, followed a questionnaire of the ISAAC - International Study of Asthma and Allergies in Childhood Program, in 2009/2010. The questionnaire contained questions to identify children with respiratory diseases (wheeze, asthma and rhinitis). Total particulate matter (TPM) was passively collected inside two classrooms of each of 14 primary schools. Two types of filter matrices were used to collect TPM: Millipore (IsoporeTM) polycarbonate and quartz. Three campaigns were selected for the measurement of TPM: Spring, Autumn and Winter. The highest difference between the two types of filters is that the mass of collected particles was higher in quartz filters than in polycarbonate filters, even if their correlation is excellent. The highest TPM depositions occurred between October 2009 and March 2010, when related with rhinitis proportion. Rhinitis was found to be related to TPM when the data were grouped seasonally and averaged for all the schools. For the data of 2006/2007, the seasonal variation was found to be related to outdoor particle deposition (below 10 μm).

Projecto de entreposto frigorífico a R-744/R-717 para produtos congelados

Pretende-se com este trabalho de Projecto de Mestrado conceber uma câmara frigorífica de 20000 m3 para armazenar produtos congelados e estudar um sistema frigorífico com dois fluidos frigorigénios que serão o CO2 (R-744) e o NH3 (R-717) O trabalho inicia-se com a definição dos objectivos principais para o projecto de um sistema frigorífico deste tipo. Após a definição dos objectivos, o projecto propõe um estudo termodinâmico do CO2 (R-744) como fluido frigorigénio, definindo se o seu historial de utilização, características principais, diagrama pressão-entalpia com a distinção das diversas fases do fluído, comparação em diversos parâmetros com outros fluidos, o porquê da utilização deste fluído, problemas comuns em sistemas com a presença deste fluído, entre outros parâmetros de estudo. De seguida será feito o dimensionamento de uma câmara frigorífica de 20000 m3 para armazenar produtos congelados paletizados através de um balanço térmico manual e um balanço térmico informático através do programa da Centauro comparando no final o resultado dos dois métodos. Será feito uma descrição das características básicas da câmara frigorífica com um esquema simples do edifício. Será abordado de seguida o sistema frigorífico a CO2 (R-744) e a NH3 (R-717) nas suas diversas características, nomeadamente no cálculo de caudais, diagrama pressão-entalpia, dimensionamento de tubagens e finalmente selecção de equipamento. Procede-se assim também ao estudo um sistema apenas a NH3 (R-717) com as suas diversas características nomeadamente no cálculo de caudais, diagrama pressão-entalpia, dimensionamento de tubagens e finalmente selecção dos equipamentos mais importantes, para que desta forma se proceda à comparação dos dois sistemas a nível energético, consumo eléctrico e manutenção de equipamentos. Finalmente proceder-se-á interpretação de resultados com o objectivo final de escolher a melhor solução nos vários parâmetros de comparação, para o esquema em questão.

Epidemiological methods for research with drug misusers: review of methods for studying prevalence and morbidity

Epidemiological studies of drug misusers have until recently relied on two main forms of sampling: probability and convenience. The former has been used when the aim was simply to estimate the prevalence of the condition and the latter when in depth studies of the characteristics, profiles and behaviour of drug users were required, but each method has its limitations. Probability samples become impracticable when the prevalence of the condition is very low, less than 0.5% for example, or when the condition being studied is a clandestine activity such as illicit drug use. When stratified random samples are used, it may be difficult to obtain a truly representative sample, depending on the quality of the information used to develop the stratification strategy. The main limitation of studies using convenience samples is that the results cannot be generalised to the whole population of drug users due to selection bias and a lack of information concerning the sampling frame. New methods have been developed which aim to overcome some of these difficulties, for example, social network analysis, snowball sampling, capture-recapture techniques, privileged access interviewer method and contact tracing. All these methods have been applied to the study of drug misuse. The various methods are described and examples of their use given, drawn from both the Brazilian and international drug misuse literature.

Web survey system to discover the actual role of experience in learning in higher education: a case study

March 19 - 22, 2006, São Paulo, BRAZIL World Congress on Computer Science, Engineering and Technology Education

Avaliação da dose absorvida na tiróide, em cintigrafias com 123I e Na99mTcO4 utilizando modelos biocinéticos e métodos de Monte Carlo

Mestrado em Radiações Aplicadas às Tecnologias da Saúde. Área de especialização: Protecção contra Radiações

Lanczos algorithm on the grassmann manifold

5th. European Congress on Computational Methods in Applied Sciences and Engineering (ECCOMAS 2008) 8th. World Congress on Computational Mechanics (WCCM8)

Teaching with Moodle in higher education

Nowadays, with the use of technology and the Internet, education is undergoing significant changes, contemplating new ways of teaching and learning. One of the widely methods of teaching used to promote knowledge, consists in the use of virtual environments available in various formats, taking as example the teaching-learning platforms, which are available online. The Internet access and use of Laptops have created the technological conditions for teachers and students can benefit from the diversity of online information, communication, collaboration and sharing with others. The integration of Internet services in the teaching practices can provide thematic, social and digital enrichment for the agents involved. In this paper we will talk about the advantages of LMS (Learning Management Systems) such as Moodle, to support the presential lectures in higher education. We also will analyse its implications for student support and online interaction, leading educational agents to a mixing of different learning environments, where they can combine face-to-face instruction with computer-mediated instruction, blended-learning, and increases the options for better quality and quantity of human interaction in a learning environment. We also will present some tools traditionally used in online assessment and that are part of the functionalities of Moodle. These tools can provide interesting alternatives to promote a more significant learning and contribute to the development of flexible and customized models of an evaluation which we want to be more efficient.

Structural and Microanalytical Studies of CrO2 Thin Films on c-Sapphire by High Resolution Electron Microscopy Methods

Chromium dioxide (CrO2) has been extensively used in the magnetic recording industry. However, it is its ferromagnetic half-metallic nature that has more recently attracted much attention, primarily for the development of spintronic devices. CrO2 is the only stoichiometric binary oxide theoretically predicted to be fully spin polarized at the Fermi level. It presents a Curie temperature of ∼ 396 K, i.e. well above room temperature, and a magnetic moment of 2 mB per formula unit. However an antiferromagnetic native insulating layer of Cr2O3 is always present on the CrO2 surface which enhances the CrO2 magnetoresistance and might be used as a barrier in magnetic tunnel junctions.