O valor das empresas dos PIIGS no per��odo de 2000 a 2010 : o impacto da crise financeira de 2007

O valor das empresas �� fundamental para o c��lculo do pre��o das suas ac����es e desta forma permitir aos investidores e accionistas determinar onde aplicar o seu dinheiro. Em ��ltima an��lise, podemos tamb��m dizer que o valor de um pa��s �� determinado pelo valor da riqueza que consegue produzir, e para essa riqueza, em muito contribuem as empresas e a cria����o de valor por parte destas. �� tamb��m necess��rio real��ar o papel fundamental que um gestor financeiro desempenha na cria����o de valor para as empresas, e nessa medida, �� imprescind��vel que este seja dotado do conhecimento dos modelos de avalia����o financeira, pois s�� assim poder�� maximizar o valor desta atrav��s dos investimentos que ir�� efectuar. Nos ��ltimos anos, em especial ap��s 2007 com a crise financeira desencadeada nos Estados Unidos e que rapidamente se alastrou �� Europa e restantes continentes, muitas foram as altera����es verificadas nas empresas por todo o globo. Assim, pretende-se avaliar o impacto desta crise nas empresas, com especial enfoque nas empresas portuguesas, italianas, irlandesas, gregas e espanholas atrav��s da an��lise do Q de Tobin de cada uma delas no per��odo de 2000 a 2010.

Telling stories of culture through literature

Grounded on Raymond Williams���s definition of knowable community as a cultural tool to analyse literary texts, the essay reads the texts D.H.Lawrence wrote while travelling in the Mediterranean (Twilight in Italy, Sea and Sardinia and Etruscan Places) as knowable communities, bringing to the discussion the wide importance of literature not only as an object for aesthetic or textual readings, but also as a signifying practice which tells stories of culture. Departing from some considerations regarding the historical development of the relationship between literature and culture, the essay analyses the ways D. H. Lawrence constructed maps of meaning, where the readers, in a dynamic relation with the texts, apprehend experiences, structures and feelings; putting into perspective Williams���s theory of culture as a whole way of life, it also analyses the ways the author communicates and organizes these experiences, creating a space of communication and operating at different levels of reality: on the one hand, the reality of the whole way of Italian life, and, on the other hand, the reality of the reader who aspires to make sense and to create an interpretative context where all the information is put, and, also, the reality of the writer in the poetic act of writing. To read these travel writings as knowable communities is to understand them as a form that invents a community with no other existence but that of the literary text. The cultural construction we find in these texts is the result of the selection, and interpretation done by D.H.Lawrence, as well as the product of the author���s enunciative positions, and of his epistemological and ontological filigrees of existence, structured by the conditions of possibility. In the rearticulation of the text, of the writer and of the reader, in a dynamic and shared process of discursive alliances, we understand that Lawrence tells stories of the Mediterranean through his literary art.

Traduzir Ces��rio Verde - Ces��rio Verde intraduz��vel

It is main goal of this article to stimulate the debate and reflection on Translation Studies. Based on Ces��rio Verde���s poem O Sentimento dum Ocidental (1880) we will discuss the effectiveness and applicability of poetry translation. Since the beginning of the XX century Ces��rio Verde and his work have been studied on an international range. We may therefore make reference to outnumbered translations of his poems in English, French, German, Italian, and Czech. Poetry translation raises however several difficulties which may affect the comprehension, interpretation and analysis not only of this author but also of his texts. In this manner we will naturally confront as well some of the most relevant items for Translation Studies, namely: Translation purposes and criteria; Translation necessity, possibility and usefulness. We invite you thus to observe the rich and complex Poetry-Translation relation within the analysis of one Ces��rio���s poem in Italian, English, German and French.

The organ verses of Frei Jer��nimo da Madre de Deus: Portuguese organ music in the time of D. Jo��o V

Contrastando com o importante legado dos mestres organistas portugueses dos s��culos XVI e XVII, a m��sica portuguesa para ��rg��o p��s-1700 parece quase inexistente (excluindo raros exemplos, como as quatro sonatas para ��rg��o de Carlos Seixas). Seja devido �� destrui����o causada pelo grande terramoto de Lisboa em 1755, ou a outras causas, a aus��ncia de fontes �� surpreendente, considerando os testemunhos de actividade musical durante aquele per��odo. Este artigo lida com uma fonte at�� hoje relativamente ignorada: o manuscrito CLI/1-4 n�� 7 da Biblioteca do Pal��cio Ducal de Vila Vi��osa (Versos / Sobre o Canto Ch��o / Para Org��o / De Fr. Jeronimo da M.dre de DS.). Esta colec����o de vinte versos para ��rg��o de Jer��nimo da Madre de Deus ��, de longe, a maior obra portuguesa para ��rg��o da primeira metade do s��culo XVIII at�� hoje conhecida. Claramente pensadas para o ��rg��o, estas curtas pe��as testemunham a transforma����o da escrita para tecla em Portugal durante o reinado de D. Jo��o V (nomeadamente atrav��s da absor����o de influ��ncias italianas) e fornecem informa����es preciosas sobre o tipo de instrumento em que eram tocadas.

Autonomous behaviors for an unmanned mini-aerial vehicle

This thesis aims at addressing the development of autonomous behaviors, for search and exploration with a mini-UAV (Unmanned Aerial Vehicle), or also called MAV (Mini Aerial Vehicle) prototype, in order to gather information in rescue scenarios. The platform used in this work is a four rotor helicopter, known as quad-rotor from the German company Ascending Technologies GmbH, which is later assembled with a on-board processing unit (i.e. a tiny light weight computer) and a on-board sensor suite (i.e. 2D-LIDAR and Ultrasonic Sonar). This work can be divided into two phases. In the first phase an Indoor Position Tracking system was settled in order to obtain the Cartesian coordinates (i.e. X, Y, Z) and orientation (i.e.heading) which provides the relative position and orientation of the platform. The second phase was the design and implementation of medium/high level controllers on each command input in order to autonomously control the aircraft position, which is the first step towards an autonomous hovering flight, and any autonomous behavior (e.g. Landing, Object avoidance, Follow the wall). The main work is carried out in the Laboratory ���Intelligent Systems for Emergencies and Civil Defense���, in collaboration with ���Dipartimento di Informatica e Sistemistica��� of Sapienza Univ. of Rome and ���Istituto Superiore Antincendi��� of the Italian Firemen Department.

Ocorr��ncia e diversidade de leveduras no filoplano de plantas seleccionadas do Parque Natural da Serra da Arr��bida

Disserta����o apresentada para obten����o do Grau de Doutor em Biologia (especialidade Microbiologia), pela Universidade Nova de Lisboa, Faculdade de Ci��ncias e Tecnologia

Microstructure, mechanical properties and chemical degradation of brazed AISI 316 stainless steel/alumina systems

The main aims of the present study are simultaneously to relate the brazing parameters with: (i) the correspondent interfacial microstructure, (ii) the resultant mechanical properties and (iii) the electrochemical degradation behaviour of AISI 316 stainless steel/alumina brazed joints. Filler metals on such as Ag���26.5Cu���3Ti and Ag���34.5Cu���1.5Ti were used to produce the joints. Three different brazing temperatures (850, 900 and 950 ��C), keeping a constant holding time of 20 min, were tested. The objective was to understand the influence of the brazing temperature on the final microstructure and properties of the joints. The mechanical properties of the metal/ceramic (M/C) joints were assessed from bond strength tests carried out using a shear solicitation loading scheme. The fracture surfaces were studied both morphologically and structurally using scanning electron microscopy (SEM), energy dispersive spectroscopy (EDS) and X-ray diffraction analysis (XRD). The degradation behaviour of the M/C joints was assessed by means of electrochemical techniques. It was found that using a Ag���26.5Cu���3Ti brazing alloy and a brazing temperature of 850 ��C, produces the best results in terms of bond strength, 234 �� 18 MPa. The mechanical properties obtained could be explained on the basis of the different compounds identified on the fracture surfaces by XRD. On the other hand, the use of the Ag���34.5Cu���1.5Ti brazing alloy and a brazing temperature of 850 ��C produces the best results in terms of corrosion rates (lower corrosion current density), 0.76 �� 0.21 ��A cm���2. Nevertheless, the joints produced at 850 ��C using a Ag���26.5Cu���3Ti brazing alloy present the best compromise between mechanical properties and degradation behaviour, 234 �� 18 MPa and 1.26 �� 0.58 ��A cm���2, respectively. The role of Ti diffusion is fundamental in terms of the final value achieved for the M/C bond strength. On the contrary, the Ag and Cu distribution along the brazed interface seem to play the most relevant role in the metal/ceramic joints electrochemical performance.

Aliphatic bio-oils from corks: a Py-Gc/MS study

Cork samples from Betula pendula, Quercus suber and Quercus cerris were submitted to Py-GC-MS/FID at temperatures between 550 degrees C and 900 degrees C and the pyrolysis-derived compounds (py-products) were identified and quantified. Corks were compared with wood samples. Py-products include suberin, lignin and carbohydrates derivatives. Suberin py-products are dominated by unsaturated aliphatics. Corks pyrolysis yield and composition were dramatically influenced by temperature in contrast to wood that showed stable results across temperatures. At 850-900 degrees C the peaks area of cork pyrograms were approximately two times higher than at 550 degrees C, for which yield was about half of the woods, and cork py-products were dominated by suberin-derived short chain aliphatics, namely 1-alkenes, while at 550 degrees C composition was dominated by lignin derivatives. Lignin and carbohydrate derived products decreased dramatically over 750 degrees C while the opposite was observed for unsaturated aliphatics. Cork materials show a high potential as feedstock for production of aliphatic-rich pyrolytic biofuels or as a source of olefins. (C) 2014 Elsevier B.V. All rights reserved.

Microwave-assisted and solvent-free peroxidative oxidation of 1-phenylethanol to acetophenone with a CuII-TEMPO catalytic system

The water-soluble copper(II) complex [Cu(H2R)(HL)]center dot H2O (1) was prepared by reaction of copper(II) nitrate hydrate with (E)-2-(((1-hydroxynaphthalen-2-yl)methylene)amino) benzenesulfonic acid (H2L) and diethanolamine (H3R). It was characterized by IR and ESI-MS spectroscopies, elemental and X-ray crystal structural analyses. 1 shows a high catalytic activity for the solvent-free microwave (MW) assisted oxidation of 1-phenylethanol with tert-butylhydroperoxide, leading, in the presence of TEMPO, to yields up to 85% (TON = 850) in a remarkably short reaction time (15 min, with the corresponding TOE value of 3.40 x 10(3) h(-1)) under low power (25W) MW irradiation. Crown Copyright (C) 2014 Published by Elsevier B.V. All rights reserved.

Readability of medicinal package leaflets: a systematic review

OBJECTIVE To review studies on the readability of package leaflets of medicinal products for human use.METHODS We conducted a systematic literature review between 2008 and 2013 using the keywords “Readability and Package Leaflet” and “Readability and Package Insert” in the academic search engine Biblioteca do Conhecimento Online,comprising different bibliographic resources/databases. The preferred reporting items for systematic reviews and meta-analyses criteria were applied to prepare the draft of the report. Quantitative and qualitative original studies were included. Opinion or review studies not written in English, Portuguese, Italian, French, or Spanish were excluded.RESULTS We identified 202 studies, of which 180 were excluded and 22 were enrolled [two enrolling healthcare professionals, 10 enrolling other type of participants (including patients), three focused on adverse reactions, and 7 descriptive studies]. The package leaflets presented various readability problems, such as complex and difficult to understand texts, small font size, or few illustrations. The main methods to assess the readability of the package leaflet were usability tests or legibility formulae. Limitations with these methods included reduced number of participants; lack of readability formulas specifically validated for specific languages (e.g., Portuguese); and absence of an assessment on patients literacy, health knowledge, cognitive skills, levels of satisfaction, and opinions.CONCLUSIONS Overall, the package leaflets presented various readability problems. In this review, some methodological limitations were identified, including the participation of a limited number of patients and healthcare professionals, the absence of prior assessments of participant literacy, humor or sense of satisfaction, or the predominance of studies not based on role-plays about the use of medicines. These limitations should be avoided in future studies and be considered when interpreting the results.

Mode III interlaminar fracture of carbon/epoxy laminates using the edge crack torsion (ECT) test

The mode III interlaminar fracture of carbon/epoxy laminates was evaluated with the edge crack torsion (ECT) test. Three-dimensional finite element analyses were performed in order to select two specimen geometries and an experimental data reduction scheme. Test results showed considerable non-linearity before the maximum load point and a significant R-curve effect. These features prevented an accurate definition of the initiation point. Nevertheless, analyses of non-linearity zones showed two likely initiation points corresponding to GIIIc values between 850 and 1100 J/m2 for both specimen geometries. Although any of these values is realistic, the range is too broad, thus showing the limitations of the ECT test and the need for further research.

Spanish society's perceptions about socially responsible investing

The debate surrounding the financial needs of investors and the impact on society of investment is considered to be an important research topic due to the growth of socially responsible financial markets. The objective of this research is to study the perception of the Spanish public about socially responsible investing (SRI) criteria and real-life investment needs. To examine the Spanish perception of SRI, we conducted a field survey. The results show that SRI is in an early stage and Spanish investors need more exact information regarding social, environmental, and governance criteria in order to invest in socially responsible companies and products.

Long-run consumption risk with durable goods : UK evidence for equity and bond markets

"It is a widely accepted fact that the consumption-based capital asset pricing model (CCAPM) fails to provide a good explanation of many important features of the behaviour of financial market returns in a large range of countries over a long period of time. However, within a representative consumer/investor model, it is hard to see how the basic structure of the consumption based model can be safely abandoned." [introdu����o]

100 A��os de desarrollo de la teor��a financiera : situaci��n actual y previsible evoluci��n tras la crisis : resumen de la ponencia

"Las Finanzas, como disciplina acad��mica, nacen a caballo entre los siglos XIX y XX. Sin duda el importante desarrollo industrial de la ��poca y la necesidad de empresas de mayores dimensiones llevaron a un creciente inter��s por las concentraciones empresariales como fusiones y adquisiciones. Tambi��n aument�� el inter��s por los mercados donde se financiaban estas empresas cada vez mayores. Y esto, aunque suced��a en diversas partes del mundo, estaba ocurriendo de forma especial en Estados Unidos, de manera que all�� fue donde nacieron las finanzas, y donde se han seguido desarrollando. De esta manera, desde un comienzo, las finanzas tienen un claro sello anglosaj��n." [introdu����o]