Faune malacologique terrestre des Iles Paracels

The author presents a study on the land shells of the Paracel Islands, group of islands, reefs, banks and other maritime features in the South China Sea. The archipelago includes about 130 small coral islands and reefs, most grouped into the northeast Amphitrite Group or the western Crescent Group. It is approximately equidistant from the coastlines of China and Vietnam.

O risco dos bancos, regulação e a crise financeira internacional

Dissertação de Mestrado, Ciências Económicas e Empresariais, 13 de Julho de 2016, Universidade dos Açores.

Comunidades de aves em galerias ripícolas mediterrânicas do Sul de Portugal

Conhecer os requisitos ambientais por parte das espécies demonstrou ser essencial em disciplinas como a ecologia e a biologia da conservação. O presente estudo visa estudar as respostas e dependência das comunidades de aves em relação às galerias ripícolas mediterrânicas. Para tal utilizaram-se dados recolhidos pelo River Habitat Survey (RHS) e por censos por pontos de escuta, em três ribeiras no sul de Portugal. Os dados ambientais foram estruturados em matrizes de acordo com as características físicas da ribeira e das margens, e modificações antropogénicas. Enquanto os dados biológicos foram agrupados em guildas: alimentação e ocupação vertical do habitat ("estrato"). Através de análises canónicas aos a dos estruturados obtiveram-se correlações válidas entre as matrizes ambientais e as guildas, nomeadamente para indivíduos directamente dependentes da água e planadores ("aéreas"), provando a validade da metodologia e o potencial da combinação destas duas técnicas. ABSTRACT; Understanding species habitat requirements has proved to be essential in ecology and conservation biology. The present report aims to examine the responses and dependence we used data collected by River Habitat Survey (RHS) and point count censuses in three rivers in southern Portugal. The environmental data were structured in matrices according to physical characteristics of the stream, the banks and anthropogenic modifications, whilst biological data was grouped into guilds: foraging and occupation ("estate"). Through canonical analysis to structured data we obtained valid correlations between the environmental variables and species guilds, particularly for those directly dependent on water and gliders ("aéreas"), proving the validity of the methodology and the potential of these two techniques working together.

Impactos da adoção do padrão contábil IFRS no Brasil : houve redução na percepção do risco de seleção adversa pelos credores não bancários das empresas de capital aberto brasileiras?

Dissertação (mestrado)—UnB/UFPB/UFRN, Programa MultiInstitucional e Inter-Regional de Pós-Graduação em Ciências Contábeis, 2016.

Tide-topography interaction along the eastern Brazilian shelf

In the Tropics, continental shelves governed by western boundary currents are considered to be among the least productive ocean margins in the world, unless eddy-induced shelf-edge upwelling becomes significant. The eastern Brazilian shelf in the Southwest Atlantic is one of these, and since the slight nutrient input from continental sources is extremely oligotrophic. It is characterized by complex bathymetry with the presence of shallow banks and seamounts. In this work, a full three-dimensional nonlinear primitive equation ocean model is used to demonstrate that the interaction of tidal currents and the bottom topography of the east Brazil continental shelf is capable of producing local upwelling of South Atlantic Central Water, bringing nutrients up from deep waters to the surface layer. Such upper layer enrichment is found to be of significance in increasing local primary productivity. (c) 2005 Elsevier Ltd. All rights reserved.

Interest rate (in)sensitivity of emerging market corporate debt : economic analysis based on 2002-2015 empirical evidence

Interest rate sensitivity assessment framework based on fixed income yield indexes is developed and applied to two types of emerging market corporate debt: investment grade and high yield exposures. Our research advances beyond the correlation analyses focused on co- movements in yields and/or spreads of risky and risk-free assets. We show that correlation- based analyses of interest rate sensitivity could appear rather inconclusive and, hence, we investigate the bottom line profit and loss of a hypothetical model portfolio of corporates. We consider historical data covering the period 2002 – 2015, which enable us to assess interest rate sensitivity of assets during the development, the apogee, and the aftermath of the global financial crisis. Based on empirical evidence, both for investment and speculative grades securities, we find that the emerging market corporates exhibit two different regimes of sensitivity to interest rate changes. We observe switching from a positive sensitivity under the normal market conditions to a negative one during distressed phases of business cycles. This research sheds light on how financial institutions may approach interest rate risk management, evidencing that even plain vanilla portfolios of emerging market corporates, which on average could appear rather insensitive to the interest rate risk in fact present a binary behavior of their interest rate sensitivities. Our findings allow banks and financial institutions for optimizing economic capital under Basel III regulatory capital rules.

Social media as an information system : improving the technological agility

There is an increased focus on research involving social media. This research however has failed to catch up with the pace of the technology development and may prove disadvantageous for both practice and theory. The longitudinal study presented in the paper was conducted over a 3-year period involving Australian banks and popular social media technologies. The paper empirically tests the Honeycomb model as a tool that enhances the technological agility of social media. The paper fills a key research gap and provides dynamism to social media strategy formation, continuous improvement of strategy development in support of greater business agility.

The wealth effects of commercial bank securities issuances announcement

Banks are often excluded in corporate finance research mainly because of the regulatory concerns. Compares to non-bank firms, banks are heavily regulated due to its special economic role of money and the uncertainty. Heavy regulation on banks could reduce the information asymmetry between the managers and investor by limiting the behaviour of banks at the time of the Seasoned Equity Offering (SEO), and by increasing the incentive for banks to avoid excessive risk-taking. Therefore, the market may be less likely to assume that bank issued securities signal information that the bank is overvalued compared to their non-bank counterparts. The objective of this thesis is therefore to examine commercial banks issued securities announcement effect. Three interrelated research questions are addressed in this thesis: 1) What is the difference in convertible bond announcement effect between banks and non-banks firm? 2) What is the difference in SEO announcement effect between banks and non-banks? 3) How do the stringency levels of bank regulation impact on the announcement effects of bank issued SEO? By using the U.S. convertible bond and SEO data from 1982 to 2012, I find that the bank issued a convertible bond and SEO announcement experience higher cumulative abnormal return than non-bank. This is consistent with the view that bank regulation reveals positive information about banks. Since banks are heavily regulated, the market is less likely to assume that the issuance of the convertible bond and SEO by banks signals information that is overvalued. These results are robust after controlling for a number of firm-, issue-, and market-specific characteristics. These results are robust by considering the different categories of non-bank industries by undertaking tests in relation to the differences in the CARS upon convertible bond/ SEO across industries, as well as the unbalanced sample between banks and non-banks by using the matched sample analysis. However, the relation between the stringency level of bank regulation and bank issued securities announcement effect may be nonlinear. As hypothesised, I find that bank regulation has an inverted U-shaped relation with the announcement effect of bank SEO by using the SEO data across 21 countries from 2001 to 2012. Under a less bank regulation environment, the market reacts more positively to the bank SEO announcement for an increase in the level of bank regulation. However, the bank SEO announcement effects become more negative if the bank regulation becomes too stringent. This inverted U-shaped relationship is robust after I use the exogenous cross-country, cross-year variation in the timing of the Basel II adoption as the instrument to assess the causal impact of bank regulation on SEO announcement effects. However, the stringency of regulation does not have a significant impact on the announcement effects of involuntary bank equity issuance.

Factores asociados a transfusión sanguínea en el manejo quirúrgico del canal lumbar estrecho en la Fundación Santa Fe de Bogotá 2003 - 2013

Introduccion: El canal lumbar estrecho es un motivo de consulta frecuente en el servicio de columna de la Fundación Santa Fe de Bogotá. Derivado del tratamiento quirurgico se pueden generar múltiples complicaciones, entre las que se encuentra la transfusión sanguínea. Objetivo: Identificar los factores sociodemográficos, antecedentes personales y factores quirúrgicos asociados a transfusión sanguínea en cirugía canal lumbar estrecho en la Fundación Santa Fe de Bogotá 2003- 2013. Materiales y métodos: Se aplicó en diseño de estudio observacional analítico transversal. Se incluyeron 367 pacientes sometidos a cirugía de canal lumbar estrecho a quienes se les analizaron variables de antecedentes personales, características sociodemograficas y factores quirúrgicos. Resultados: La mediana de la edad fue de 57 años y la mayoría de pacientes fueron mujeres (55,6%). La mediana del Índice de Masa Corporal (IMC) fue de 24,9 clasificado como normal. Entre los antecedentes patológicos, la hipertensión arterial fue el más común (37,3%). La mayoría de pacientes (59,1%) presentaron clasificación ASA de II. El tipo de cirugía más prevalente fue el de descompresión (55,6%). En el 79,8% de los pacientes se intervinieron 2 niveles. Se realizó transfusión de glóbulos rojos en 26 pacientes correspondiente a 7,1% del total. En la mayoría de procedimientos quirúrgicos (42,5%) el sangrado fue clasificado como moderado (50-500 ml). En el modelo explicativo transfusión sanguínea en cirugía de canal lumbar estrecho se incluyen: antecedente de cardiopatía (OR 4,68, P 0,034, IC 1,12 – 19,44), Sangrado intraoperatorio >500ml (OR 6,74, p 0,001, 2,09 – 21,74) y >2 niveles intervenidos (OR 3,97, p 0,023, IC 1,20 – 13,09). Conclusión: Como factores asociados a la transfusión sanguínea en el manejo quirúrgico del canal lumbar estrecho a partir de la experiencia de 10 años en la Fundación Santa Fe de Bogotá se encontraron: enfermedad cardiaca, sangrado intraoperatorio mayor de 500ml y más de dos niveles intervenidos.