The impact of family control on firm's return

Family firm is a field of growing interest. The aim of this article is to understand whether CEOs identity impacts family firm’s stock returns. From a sample of Portuguese and Spanish family firms findings show that who manages the firms result in significantly different risk exposure. Moreover, we find that the abnormal return found by Fahlenbrach (2009) to founder-controlled firms disappear when we use valueweighted portfolios and include two new factors: market aggregate illiquidity and debt intensity to the four-factor Carhart model. Finally, our results explain why the majority of family firm is controlled by its founder.

Breast cancer in Mexican women: an epidemiological study with cervical cancer control

INTRODUCTION: In Mexico, breast cancer (BC) is one of the main causes of cancer deaths in women, with increasing incidence and mortality in recent years. Therefore, the aim of the study is identify possible risk factors related to BC. METHODS: An epidemiological study of hospital cases of BC and controls with cervical uterine cancer (CUCA) was carried out at eight third level concentration hospitals in Mexico City. The total of 353 incident cases of BC and 630 controls with CUCA were identified among women younger than 75 years who had been residents of the metropolitan area of Mexico City for at least one year. Diagnosis was confirmed histologically in both groups. Variables were analyzed according to biological and statistical plausibility criteria. Univariate, bivariate and multivariate analyses were carried out. Cases and controls were stratified according to the menopausal hormonal status (pre and post menopause). RESULTS: The factors associated with BC were: higher socioeconomic level (OR= 2.77; 95%CI = 1.77 - 4.35); early menarche (OR= 1.32; 95%CI= 0.88 - 2.00); old age at first pregnancy (>31 years: OR= 5.49; 95%CI= 2.16 - 13.98) and a family history of BC (OR= 4.76; 95% CI= 2.10 - 10.79). In contrast, an increase in the duration of the breastfeeding period was a protective factor (>25 months: OR= 0.38; 95%CI= 0.20 - 0.70). CONCLUSIONS: This study contributes to the identification of risk factors for BC described in the international literature, in the population of Mexican women. Breastfeeding appears to play an important role in protecting women from BC. Because of changes in women`s lifestyles, lactation is decreasing in Mexico, and young women tend not to breastfeed or to shorten the duration of lactation.

Aplicação do ABC no sector de transporte público rodoviário de mercadorias: estudo de caso em PME

Mestrado em Contabilidade e Finanças Orientado por: Doutora Cláudia Lopes

Hospital visitors as controls in case-control studies

OBJECTIVE: Selecting controls is one of the most difficult tasks in the design of case-control studies. Hospital controls may be inadequate and random controls drawn from the base population may be unavailable. The aim was to assess the use of hospital visitors as controls in a case-control study on the association of organochlorinated compounds and other risk factors for breast cancer conducted in the main hospital of the "Instituto Nacional de Câncer" -- INCA (National Cancer Institute) in Rio de Janeiro (Brazil). METHODS: The study included 177 incident cases and 377 controls recruited among female visitors. Three different models of control group composition were compared: Model 1, with all selected visitors; Model 2, excluding women visiting relatives with breast cancer; and Model 3, excluding all women visiting relatives with any type of cancer. Odds ratios (OR) and 95% confidence intervals were calculated to test the associations. RESULTS: Age-adjusted OR for breast cancer associated with risk factors other than family history of cancer, except smoking and breast size, were similar in the three models. Regarding family history of all cancers, except for breast cancer, there was a decreased risk in Models 1 and 2, while in Model 3 there was an increased risk, but not statistically significant. Family history of breast cancer was a risk factor in Models 2 and 3, but no association was found in Model 1. In multivariate analysis a significant risk of breast cancer was found when there was a family history of breast cancer in Models 2 and 3 but not in Model 1. CONCLUSIONS: These results indicate that while investigating risk factors unrelated to family history of cancer, the use of hospital visitors as controls may be a valid and feasible alternative.

Alterações do equilíbrio em indivíduos com ou sem síndrome de Down em repouso e durante a execução de uma tarefa

O equilíbrio é fundamental para o desempenho de Actividades de Vida Diária e de Vida Diária Instrumentais que permitem aos indivíduos com Síndrome de Down manter a sua autonomia. O objectivo principal deste estudo foi verificar as características do estado de equilíbrio em indivíduos com e sem Síndrome de Down, em repouso e durante a execução de uma tarefa, de modo a compreender as implicações da alteração do estado de equilíbrio no desempenho de actividades. Neste estudo, foram seleccionadas duas amostras, de forma probabilística por conveniência, com indivíduos de ambos os sexos. A amostra do grupo experimental foi constituída por oito indivíduos com diagnóstico de Síndrome de Down, com idades compreendidas entre os 17 e os 39 anos de idade. A amostra do grupo de controlo foi constituída por doze indivíduos sem patologia, com idades compreendidas entre os 21 e os 37 anos. O equilíbrio foi avaliado com recurso a uma Plataforma de Forças (Bertec Corporation FP4060-10) para medir a deslocação do centro de pressão (CP) dos indivíduos. A avaliação do equilíbrio decorreu em dois momentos, na posição de pé: em repouso e no desempenho da tarefa segurar um saco de compras. Os resultados diferem entre os dois grupos em repouso e durante a execução da tarefa (segurar no saco). Os valores das variáveis área e distância de deslocação do CP e oscilações corporais, antero-posterior e médio-lateralmente apresentam resultados significativos, o que sugere diferenças do estado de equilíbrio entre as amostras.

Ajustes posturais para o alcance funcional dos membros superiores - migração do centro de pressão na posição de sentado

Objetivos: Pretende-se verificar as modificações neuromotoras após uma intervenção baseada no conceito de Bobath ao nível dos ajustes posturais durante o alcance funcional dos membros superiores, em três crianças com paralisia cerebral. Pretende-se também, verificar o efeito desta abordagem nas atividades e participação, bem como destacar os aspetos individuais das mesmas crianças com a capacidade de mudança após a intervenção. Metodologia: A avaliação foi realizada antes e três meses após a intervenção em fisioterapia segundo o conceito de Bobath. Optou-se por um registo observacional com uma Máquina Fotográfica Digital, um sistemas de Câmaras de Vídeo, uma Plataforma de Forças e, utilizaram-se ainda instrumentos como o Gross Motor Functional Measure– versão 88 itens, o Gross Motor Function Classification System, o Teste de Alcance Funcional Modificado e a ferramenta, Classificação Internacional de Funcionalidade, Incapacidade e Saúde – crianças e jovens. Resultados: Verificou-se um progresso nos ajustes posturais e na funcionalidade em geral, o que se repercutiu na restrição da participação e na limitação da actividade. A postura na posição de sentado, o deslocamento do centro de pressão, a capacidade de deslocamento no sentido anterior, bem como as capacidades motoras grosseiras modificaram-se em todas as crianças, tendo a criança B apresentado a maior e a criança A a menor capacidade de mudança após a intervenção. Conclusão: A intervenção segundo o Conceito de Bobath promoveu modificações neuromotoras, o que levaram a uma melhoria da funcionalidade geral, da mobilidade e do controlo postural da criança, refletindo-se nos ajustes posturais durante o alcance funcional dos membros superiores na posição de sentado. Verificou-se ainda, uma melhoria na restrição da participação e na limitação da actividade diária.

A new control strategy with saturation effect compensation for an autonomous induction generator drivenby wide speed range turbines

This paper presents a variable speed autonomous squirrel cage generator excited by a current-controlled voltage source inverter to be used in stand-alone micro-hydro power plants. The paper proposes a system control strategy aiming to properly excite the machine as well as to achieve the load voltage control. A feed-forward control sets the appropriate generator flux by taking into account the actual speed and the desired load voltage. A load voltage control loop is used to adjust the generated active power in order to sustain the load voltage at a reference value. The control system is based on a rotor flux oriented vector control technique which takes into account the machine saturation effect. The proposed control strategy and the adopted system models were validated both by numerical simulation and by experimental results obtained from a laboratory prototype. Results covering the prototype start-up, as well as its steady-state and dynamical behavior are presented. (C) 2011 Elsevier Ltd. All rights reserved.

O Planeamento estratégico nos hospitais portugueses num contexto de austeridade: o caso particular dos Hospitais E.P.E.

Dissertação apresentada para obtenção do grau de Mestre em Contabilidade e Finanças Orientador: Professor Doutor José Freitas Santos

Comparative study of power converter topologies and control strategies for the harmonic performance of variable-speed wind turbine generator systems

Power converters play a vital role in the integration of wind power into the electrical grid. Variable-speed wind turbine generator systems have a considerable interest of application for grid connection at constant frequency. In this paper, comprehensive simulation studies are carried out with three power converter topologies: matrix, two-level and multilevel. A fractional-order control strategy is studied for the variable-speed operation of wind turbine generator systems. The studies are in order to compare power converter topologies and control strategies. The studies reveal that the multilevel converter and the proposed fractional-order control strategy enable an improvement in the power quality, in comparison with the other power converters using a classical integer-order control strategy. (C) 2010 Elsevier Ltd. All rights reserved.

Spatio-temporal alignment of pedobarographic image sequences

O documento em anexo encontra-se na versão post-print (versão corrigida pelo editor).

Influence of an unstable shoe on compensatory postural adjustments: an experimental evaluation

This study attempted to evaluate the influence of using an unstable shoe in muscle re-cruitment strategies and center of pressure (CoP) displacement after the application of an external perturba-tion. Fourteen healthy female subjects participated in this study. The electromyographic activity of medial ga-strocnemius, tibialis anterior, rectus femoris, biceps femoris, rectus abdominis and erector spinae muscles and the kinetic values to calculate the CoP were collected and analyzed after the application of an external pertur-bation with the subject in standing position, with no shoes and using unstable footwear. The results showed increased in medial gastrocnemius activity during the first compensatory postural adjustments and late com-pensatory postural adjustments when using an unstable shoe. There were no differences in standard deviation and maximum peak of anteroposterior displacement of CoP between measurements. From the experimental findings, one can conclude that the use of an unstable shoe leads to an increase in gastrocnemius activity with no increase in CoP displacement following an unexpected external perturbation.

A importância dos fluxos de caixa na análise da solvência, liquidez e visibilidade das empresas

Orientada por: Prof. Doutora Cláudia Lopes

Fast optimum-predictive control and capacitor voltage balancing strategy for bipolar back-to-back NPC converters in high-voltage direct current transmission systems

Multilevel power converters have been introduced as the solution for high-power high-voltage switching applications where they have well-known advantages. Recently, full back-to-back connected multilevel neutral point diode clamped converters (NPC converter) have been used inhigh-voltage direct current (HVDC) transmission systems. Bipolar-connected back-to-back NPC converters have advantages in long-distance HVDCtransmission systems over the full back-to-back connection, but greater difficulty to balance the dc capacitor voltage divider on both sending and receiving end NPC converters. This study shows that power flow control and dc capacitor voltage balancing are feasible using fast optimum-predictive-based controllers in HVDC systems using bipolar back-to-back-connected five-level NPC multilevel converters. For both converter sides, the control strategytakes in account active and reactive power, which establishes ac grid currents in both ends, and guarantees the balancing of dc bus capacitor voltages inboth NPC converters. Additionally, the semiconductor switching frequency is minimised to reduce switching losses. The performance and robustness of the new fast predictive control strategy, and its capability to solve the DC capacitor voltage balancing problem of bipolar-connected back-to-back NPCconverters are evaluated.

HVDC transmission systems: Bipolar back-to-back diode clamped multilevel converter with fastoptimum-predictive control and capacitor balancing strategy

Voltage source multilevel power converter structures are being considered for high power high voltage applications where they have well known advantages. Recently, full back-to-back connected multilevel neutral diode clamped converters (NPC) have been used in high voltage direct current (HVDC) transmission systems. Bipolar back-to-back connection of NPCs have advantages in long distance HVDC transmission systems, but highly increased difficulties to balance the dc capacitor voltage dividers on both sending and receiving end NPCs. This paper proposes a fast optimum-predictive controller to balance the dc capacitor voltages and to control the power flow in a long distance HVDCsystem using bipolar back-to-back connected NPCs. For both converter sides, the control strategy considers active and reactive power to establish ac grid currents on sending and receiving ends, while guaranteeing the balancing of both NPC dc bus capacitor voltages. Furthermore, the fast predictivecontroller minimizes the semiconductor switching frequency to reduce global switching losses. The performance and robustness of the new fast predictive control strategy and the associated dc capacitors voltage balancing are evaluated. (C) 2011 Elsevier B.V. All rights reserved.

Matrix Converter-Based Unified Power-Flow Controllers: Advanced Direct Power Control Method

This paper presents a direct power control (DPC) for three-phase matrix converters operating as unified power flow controllers (UPFCs). Matrix converters (MCs) allow the direct ac/ac power conversion without dc energy storage links; therefore, the MC-based UPFC (MC-UPFC) has reduced volume and cost, reduced capacitor power losses, together with higher reliability. Theoretical principles of direct power control (DPC) based on sliding mode control techniques are established for an MC-UPFC dynamic model including the input filter. As a result, line active and reactive power, together with ac supply reactive power, can be directly controlled by selecting an appropriate matrix converter switching state guaranteeing good steady-state and dynamic responses. Experimental results of DPC controllers for MC-UPFC show decoupled active and reactive power control, zero steady-state tracking error, and fast response times. Compared to an MC-UPFC using active and reactive power linear controllers based on a modified Venturini high-frequency PWM modulator, the experimental results of the advanced DPC-MC guarantee faster responses without overshoot and no steady-state error, presenting no cross-coupling in dynamic and steady-state responses.