The new economy: Essays in network economics and two-sided markets

Following the Introduction, which surveys existing literature on the technology advances and regulation in telecommunications and on two-sided markets, we address specific issues on the industries of the New Economy, featured by the existence of network effects. We seek to explore how each one of these industries work, identify potential market failures and find new solutions at the economic regulation level promoting social welfare. In Chapter 1 we analyze a regulatory issue on access prices and investments in the telecommunications market. The existing literature on access prices and investment has pointed out that networks underinvest under a regime of mandatory access provision with a fixed access price per end-user. We propose a new access pricing rule, the indexation approach, i.e., the access price, per end-user, that network i pays to network j is function of the investment levels set by both networks. We show that the indexation can enhance economic efficiency beyond what is achieved with a fixed access price. In particular, access price indexation can simultaneously induce lower retail prices and higher investment and social welfare as compared to a fixed access pricing or a regulatory holidays regime. Furthermore, we provide sufficient conditions under which the indexation can implement the socially optimal investment or the Ramsey solution, which would be impossible to obtain under fixed access pricing. Our results contradict the notion that investment efficiency must be sacrificed for gains in pricing efficiency. In Chapter 2 we investigate the effect of regulations that limit advertising airtime on advertising quality and on social welfare. We show, first, that advertising time regulation may reduce the average quality of advertising broadcast on TV networks. Second, an advertising cap may reduce media platforms and firms' profits, while the net effect on viewers (subscribers) welfare is ambiguous because the ad quality reduction resulting from a regulatory cap o¤sets the subscribers direct gain from watching fewer ads. We find that if subscribers are sufficiently sensitive to ad quality, i.e., the ad quality reduction outweighs the direct effect of the cap, a cap may reduce social welfare. The welfare results suggest that a regulatory authority that is trying to increase welfare via regulation of the volume of advertising on TV might necessitate to also regulate advertising quality or, if regulating quality proves impractical, take the effect of advertising quality into consideration. 3 In Chapter 3 we investigate the rules that govern Electronic Payment Networks (EPNs). In EPNs the No-Surcharge Rule (NSR) requires that merchants charge at most the same amount for a payment card transaction as for cash. In this chapter, we analyze a three- party model (consumers, merchants, and a proprietary EPN) with endogenous transaction volumes and heterogenous merchants' transactional benefits of accepting cards to assess the welfare impacts of the NSR. We show that, if merchants are local monopolists and the network externalities from merchants to cardholders are sufficiently strong, with the exception of the EPN, all agents will be worse o¤ with the NSR, and therefore the NSR is socially undesirable. The positive role of the NSR in terms of improvement of retail price efficiency for cardholders is also highlighted.

Detection of intestinal parasites on field-grown strawberries in the Federal District of Brazil

Introduction This study evaluated the presence of pathogenic human parasites on field-grown strawberries in the Federal District of Brazil. Methods A total of 48 samples of strawberries and 48 soil samples from 16 properties were analyzed. Results Contaminated strawberries were detected in 56% of the properties. Schistosoma mansoni, Ascaris lumbricoides or Ascaris suum, Balantidium coli, Endolimax nana, and Entamoeba spp. were detected. Soil was contaminated with Entamoeba spp., Entamoeba coli, Strongyloides spp., Ancylostomatidae, and Hymenolepis nana. Conclusions Producers should be instructed on the safe handling of strawberries in order to reduce the incidence of strawberries that are contaminated with enteroparasites.

Proxy statement proposals after the 2008 financial crash

In traumatic financial times, both shareholders and the media promptly blame companies for lack of decent corporate governance mechanisms. Proxy statement proposals have increasingly been used by the more active shareholders as to vindicate managers to correct anomalies and restore financial markets’ confidence. I examine the proposals of the largest companies in the S&P 500 index after the Lehmann Brothers crash and their effect on stock prices. Proposals initiated by shareholders negatively impact the company’s stock price, particularly if the proposers are unions, pension funds and institutional investors. Also, I find corporate governance proposals to harm firm’s market performance, unlike compensation and social policy proposals whose effects are intangible. The exception to these disappointing attempts to improve companies’ conduct relies on proposals shared by several investors.

Corporate social reponsability strategic corporate social responsability: External and internal outcomes

This study investigates the importance and benefits of having a strategic Corporate Social Responsibility (CSR) program by testing the interrelationships between strategic CSR with three external (reputation, corporate image, and customer loyalty) and four internal (organizational commitment, job satisfaction, performance, and organizational deviance) variables. 269 clients and non-clients along with 190 employees and their direct supervisors completed the survey. Strategic CSR has shown to have a positive impact on all the variables studied with the exception of organizational deviance. Practical implications and suggestions for future research are discussed.

Covered interest parity

This report aims to study the evolution of the Covered Interest Rate Parity (CIP) over the course of the last years. With the 2007 financial crisis many fundamental relationships changed, and CIP was not an exception. To infer whether or not this was an isolate event, the behaviour of the CIP during the European Sovereign debt crisis was studied. Currency pairs such as EURUSD showed significant CIP deviations during both crises. This work shows that currently, spreads are mostly explained by counterparty risk and market sentiment factors, which are extremely different factors from the ones explaining the spread during 2003-06. Key

Capital requirements and loan market conditions insight into Portuguese Banking system (2004-2011)

Capital Requirements have been gaining importance in the current macroeconomic and financial environment and Portugal is no exception. Nonetheless, despite the several media articles on this subject, the associations with Loan Market Conditions, namely availability and pricing are still unstudied. Thus, this project adds to the existing literature a characterization of Portuguese four biggest banks on capital reporting and requirements fulfillment. It is concluded that banks under analysis need to increase capital and that there is an association between the variables under study: Share Capital is negatively correlated with Credit Volume, and it is positively correlated with Net Commercial Income.

Toxoplasma gondii seropositivity and risk factors in pregnant women followed up by the Family Health Strategy

INTRODUCTION : Toxoplasmosis is a zoonotic infection caused by Toxoplasma gondii. It is transmitted by the ingestion of contaminated water and foods, by soil contaminated with cat feces, especially while handling it, and congenitally via the placenta. The diagnosis of maternal infection is made by serological detection of either IgM or IgG antibodies. This study assessed the seropositivity in pregnant women followed up by the Family Health Strategy (FHS) in Lages, Santa Catarina, Brazil. METHODS: The study was performed in 19 FHS units and included 148 childbearing women. The outcomes evaluated were IgM and IgG seropositivity and behavioral variables. RESULTS: IgG yielded positive results in 16% of the pregnant women, whereas IgM was positive in only 1%. CONCLUSIONS: The 1% IgM positivity rate for T. gondii indicates congenital toxoplasmosis is not common in Lages.

A formação em rastreio e intervenções breves do álcool muda as atitudes dos profissionais de saúde ocupacional? : estudo quasi experimental exploratório para uma estratégia para o meio laboral

RESUMO - Estudos anteriores nos Cuidados de Saúde Primários (CSP) apontam para um incremento da Deteção Precoce (DP) e Intervenções Breves (IB) em pacientes com Problemas Ligados ao Álcool (PLA) após formação apropriada dos profissionais de saúde (com melhoria das suas atitudes). Este estudo quasi experimental, exploratório, é pioneiro no âmbito da Saúde Ocupacional (SO) para a implementação de Rastreio/DP e IB nos PLA. O objetivo principal foi avaliar se uma formação sobre Rastreio/DP e IB pode melhorar as atitudes dos profissionais de SO ao lidar com os PLA em Meio Laboral (PLAML). Foi aplicado um questionário em duas partes: Q1/pré-formação (variáveis sociodemográficas, profissionais, competências em alcoologia, experiência pessoal com álcool/familiares com PLA, dificuldades em lidar com trabalhadores com PLA, AUDIT-C e SAAPPQ) e Q2/pós-formação (avaliação da formação e das atitudes SAAPPQ - Adequação, Legitimidade, Motivação, Autoestima e Satisfação). Os resultados na amostra (N=39) revelaram um aumento sobretudo na Adequação e Satisfação. No entanto, naqueles com níveis baixos das atitudes pré-formação constou-se melhoria das atitudes à excepção da Autoestima e foram encontradas algumas associações com as características do perfil inicial dos participantes. Sugerem-se estudos posteriores para identificação de pacotes formativos mais efetivos e propostas para um Plano integrador de RIB para PLAML

Risk factors for Toxoplasma gondii infection among pregnant women from the State of Tocantins, Northern Brazil

ABSTRACT INTRODUCTION: The prevalence of infection by Toxoplasma gondii and associated risk factors in pregnant women in Tocantins, Northern Brazil were assessed. METHODS: Serological analysis was performed in 338 serum samples and an oral questionnaire was utilized to identify potential risk factors. RESULTS: Anti-IgG antibodies against T. gondii were detected in 71% (240/338) of the pregnant women. Prior contact with cats and meat handling were found to be associated with T. gondii infection. CONCLUSIONS: A considerable percentage (29%) of women living in the Tocantins area remain susceptible to infection by the T. gondii protozoon, representing a serious public health risk.

Cost of drugs manufactured by the University Hospital - role of the Central Pharmacy

The hospital pharmacy in large and advanced institutions has evolved from a simple storage and distribution unit into a highly specialized manipulation and dispensation center, responsible for the handling of hundreds of clinical requests, many of them unique and not obtainable from commercial companies. It was therefore quite natural that in many environments, a manufacturing service was gradually established, to cater to both conventional and extraordinary demands of the medical staff. That was the case of Hospital das Clinicas, where multiple categories of drugs are routinely produced inside the pharmacy. However, cost-containment imperatives dictate that such activities be reassessed in the light of their efficiency and essentiality. METHODS: In a prospective study, the output of the Manufacturing Service of the Central Pharmacy during a 12-month period was documented and classified into three types. Group I comprised drugs similar to commercially distributed products, Group II included exclusive formulations for routine consumption, and Group III dealt with special demands related to clinical investigations. RESULTS: Findings for the three categories indicated that these groups represented 34.4%, 45.3%, and 20.3% of total manufacture orders, respectively. Costs of production were assessed and compared with market prices for Group 1 preparations, indicating savings of 63.5%. When applied to the other groups, for which direct equivalent in market value did not exist, these results would suggest total yearly savings of over 5 100 000 US dollars. Even considering that these calculations leave out many components of cost, notably those concerning marketing and distribution, it might still be concluded that at least part of the savings achieved were real. CONCLUSIONS: The observed savings, allied with the convenience and reliability with which the Central Pharmacy performed its obligations, support the contention that internal manufacture of pharmaceutical formulations was a cost-effective alternative in the described setting.

Blue rubber bleb nevus syndrome: case report

The case of a patient with blue rubber bleb nevus syndrome who is infected by acquired immunodeficiency syndrome virus due to multiple blood transfusions is presented. This case shows that although it is a rare systemic disorder, blue rubber bleb nevus syndrome has to be considered in the differential diagnosis of chronic anemia or gastrointestinal bleeding. Patients should be investigated by endoscopy, which is the most reliable method for detecting these lesions. The patient underwent gastroscopy and enteroscopy via enterotomy with identification of all lesions. Minimal resection of the larger lesions and string-purse suture of the smaller ones involving all the layers of the intestine were performed. The string-purse suture of the lesions detected by enteroscopy proved to be an effective technique for handling these lesions, avoiding extensive intestinal resection and stopping the bleeding. Effective management of these patients demands aggressive treatment and should be initiated as soon as possible to avoid risks involved in blood transfusions, as occurred in this case.

Influence of nephrotic state on the infectious profile in childhood idiopathic nephrotic syndrome

Patients with idiopathic nephrotic syndrome present alterations in their cellular and humoral immune reactions that predispose them to the development of infectious processes. PURPOSE: To characterize the infectious processes in patients with idiopathic nephrotic syndrome. PATIENTS AND METHODS: Ninety-two children and adolescents with idiopathic nephrotic syndrome were assessed retrospectively. The types of infection were grouped as follows: upper respiratory tract infections; pneumonia; skin infections; peritonitis; diarrhea; urinary tract infection ; herpes virus; and others. The patients were divided into 2 groups: Group I (steroid-responsive) n = 75, with 4 subgroups-IA (single episode) n = 10, IB (infrequent relapsers) n = 5, IC (frequent relapsers) n = 14, and ID (steroid-dependent) n = 46; and Group II (steroid-resistant) n = 17. The incidence-density of infection among the patients was assessed throughout the follow-up period. Comparisons for each group and subgroup were done during the periods of negative and nephrotic proteinuria. RESULTS: The analysis revealed a greater incidence-density of infections during the period of nephrotic proteinuria in all the groups and subgroups, with the exception of subgroup IA. During the period of nephrotic proteinuria, subgroups IC, ID, and Group II presented a greater incidence-density of infections as compared to subgroup IA. For the period of negative proteinuria, there was no difference in the incidence-density of infections between the groups and subgroups. Upper respiratory tract infections were the most frequent infectious processes. CONCLUSION: The nephrotic condition, whether as part of a course of frequent relapses, steroid dependence, or steroid resistance, conferred greater susceptibility to infection among the patients with idiopathic nephrotic syndrome. The results of this study suggest that the best preventive action against infection in this disease is to control the nephrotic state.

Ajustamento pelo risco : da conceptualização à operacionalização

RESUMO - As organizações de saúde, em geral, e os hospitais, em particular, são frequentemente reconhecidos por terem particularidades e especificidades que conferem uma especial complexidade ao seu processo produtivo e à sua gestão (Jacobs, 1974; Butler, 1995). Neste sentido, na literatura hospitalar emergem alguns temas como prioritários tanto na investigação como na avaliação do seu funcionamento, nomeadamente os relacionados com a produção, com o financiamento, com a qualidade, com a eficiência e com a avaliação do seu desempenho. O estado da arte da avaliação do desempenho das organizações de saúde parece seguir a trilogia definida por Donabedian (1985) — Estrutura, Processo e Resultados. Existem diversas perspectivas para a avaliação do desempenho na óptica dos Resultados — efectividade, eficiência ou desempenho financeiro. No entanto, qualquer que seja a utilizada, o ajustamento pelo risco é necessário para se avaliar a actividade das organizações de saúde, como forma de medir as características dos doentes que podem influenciar os resultados de saúde. Como possíveis indicadores de resultados, existem a mortalidade (resultados finais), as complicações e as readmissões (resultados intermédios). Com excepção dos estudos realizados por Thomas (1996) e Thomas e Hofer (1998 e 1999), praticamente ninguém contesta a relação entre estes indicadores e a efectividade dos cuidados. Chamando, no entanto, a atenção para a necessidade de se definirem modelos de ajustamento pelo risco e ainda para algumas dificuldades conceptuais e operacionais para se atingir este objectivo. Em relação à eficiência técnica dos hospitais, os indicadores tradicionalmente mais utilizados para a sua avaliação são os custos médios e a demora média. Também neste domínio, a grande maioria dos estudos aponta para que a gravidade aumenta o poder justificativo do consumo de recursos e que o ajustamento pelo risco é útil para avaliar a eficiência dos hospitais. Em relação aos sistemas usados para medir a severidade e, consequentemente, ajustar pelo risco, o seu desenvolvimento apresenta, na generalidade, dois tipos de preocupações: a definição dos suportes de recolha da informação e a definição dos momentos de medição. Em última instância, o dilema que se coloca reside na definição de prioridades e daquilo que se pretende sacrificar. Quando se entende que os aspectos financeiros são determinantes, então será natural que se privilegie o recurso quase exclusivo a elementos dos resumos de alta como suporte de recolha da informação. Quando se defende que a validade de construção e de conteúdo é um aspecto a preservar, então o recurso aos elementos dos processos clínicos é inevitável. A definição dos momentos de medição dos dados tem repercussões em dois níveis de análise: na neutralidade económica do sistema e na prospectividade do sistema. O impacto destas questões na avaliação da efectividade e da eficiência dos hospitais não é uma questão pacífica, visto que existem autores que defendem a utilização de modelos baseados nos resumos de alta, enquanto outros defendem a supremacia dos modelos baseados nos dados dos processos clínicos, para finalmente outros argumentarem que a utilização de uns ou outros é indiferente, pelo que o processo de escolha deve obedecer a critérios mais pragmáticos, como a sua exequibilidade e os respectivos custos de implementação e de exploração. Em relação às possibilidades que neste momento se colocam em Portugal para a utilização e aplicação de sistemas de ajustamento pelo risco, verifica-se que é praticamente impossível a curto prazo aplicar modelos com base em dados clínicos. Esta opção não deve impedir que a médio prazo se altere o sistema de informação dos hospitais, de forma a considerar a eventualidade de se utilizarem estes modelos. Existem diversos problemas quando se pretendem aplicar sistemas de ajustamento de risco a populações diferentes ou a subgrupos distintos das populações donde o sistema foi originalmente construído, existindo a necessidade de verificar o ajustamento do modelo à população em questão, em função da sua calibração e discriminação.

Millennium BCP: Optimization of the branches closure process

Nowadays, a significant number of banks in Portugal are facing a bank-branch restructuring problem, and Millennium BCP is not an exception. The closure of branches is a major component of profit maximization through the reduction in operational and personnel costs but also an opportunity to approach the idea of “baking of future” and start thinking on the benefits of the digital era. This dissertation centers on a current high-impact organizational problem addressed by the company and consists in a proposal of optimization to the model that Millennium BCP uses. Even though measures of performance are usually considered the most important elements in evaluating the viability of branches, there is evidence suggesting that other general factors can be important to assess branch potential, such as the influx on branches, business dimensions of a branch and its location, which will be addressed in this project.

Livros de artista: gestão da coleção da Biblioteca de Arte da Fundação Calouste Gulbenkian

Os Livros de Artista são obras de arte contemporâneas cujo nascimento se situa no século XX. As coleções deste tipo de documentos encontram‐se em museus e em bibliotecas. Nas bibliotecas os riscos do manuseamento estão mais presentes porque os Livros de Artista são tocados para serem lidos. As particularidades deste tipo de coleções, onde os livros têm tamanhos diversos, formas variadas e materiais díspares, levou‐nos à reflexão sobre o impacto do seu manuseamento nas bibliotecas. A reflexão baseou‐se no estudo das práticas em uso na Biblioteca de Arte da Fundação Calouste Gulbenkian. A observação da gestão do risco do manuseamento em Livros de Artista na instituição e a revisão da literatura permitiram a elaboração de um conjunto de regras. As regras devem ser seguidas pelas instituições que têm à sua guarda coleções de Livros de Artista. Acreditamos que a sua adoção, progressiva e continuada, contribui para a minimização dos efeitos do manuseamento e constitui um auxílio na disponibilização e acessibilidade ao longo do tempo dos Livros de Artista. Não anula, de forma total e absoluta, os efeitos do uso de uma coleção de Livros de Artista. Os Livros de Artista para serem lidos são tocados e, por isso, existirá sempre um dano – o desgaste.