Performance determinants For Swedish Financial Monetary Institutions: Panel Data evidence between 2010-2014.

Due to the rapid changes that governs the Swedish financial sector such as financial deregulations and technological innovations, it is imperative to examine the extent to which the Swedish Financial institutions had performed amid these changes. For this to be accomplish, the work investigates what are the determinants of performance for Swedish Financial Monetary Institutions? Assumptions were derived from theoretical and empirical literatures to investigate the authenticity of this research question using seven explanatory variables. Two models were specified using Returns on Asset (ROA) and Return on Equity (ROE) as the main performance indicators and for the sake of reliability and validity, three different estimators such as Ordinary Least Square (OLS), Generalized Least Square (GLS) and Feasible Generalized Least Square (FGLS) were employed. The Akaike Information Criterion (AIC) was also used to verify which specification explains performance better while performing robustness check of parameter estimates was done by correcting for standard errors. Based on the findings, ROA specification proves to have the lowest Akaike Information Criterion (AIC) and Standard errors compared to ROE specification. Under ROA, two variables; the profit margins and the Interest coverage ratio proves to be statistically significant while under ROE just the interest coverage ratio (ICR) for all the estimators proves significant. The result also shows that the FGLS is the most efficient estimator, then follows the GLS and the last OLS. when corrected for SE robust, the gearing ratio which measures the capital structure becomes significant under ROA and its estimate become positive under ROE robust. Conclusions were drawn that, within the period of study three variables (ICR, profit margins and gearing) shows significant and four variables were insignificant. The overall findings show that the institutions strive to their best to maximize returns but these returns were just normal to cover their costs of operation. Much should be done as per the ASC theory to avoid liquidity and credit risks problems. Again, estimated values of ICR and profit margins shows that a considerable amount of efforts with sound financial policies are required to increase performance by one percentage point. Areas of further research could be how the individual stochastic factors such as the Dupont model, repo rates, inflation, GDP etc. can influence performance.

Deep Water Running para redução da gordura corporal em mulheres na meia idade : estudo de intervenção em Campinas - SP

Universidade Estadual de Campinas . Faculdade de Educação Física

Optimized harvest scheduling in eucalyptus plantations under operational, spatial and climatic constraints

The representation of sustainability concerns in industrial forests management plans, in relation to environmental, social and economic aspects, involve a great amount of details when analyzing and understanding the interaction among these aspects to reduce possible future impacts. At the tactical and operational planning levels, methods based on generic assumptions usually provide non-realistic solutions, impairing the decision making process. This study is aimed at improving current operational harvesting planning techniques, through the development of a mixed integer goal programming model. This allows the evaluation of different scenarios, subject to environmental and supply constraints, increase of operational capacity, and the spatial consequences of dispatching harvest crews to certain distances over the evaluation period. As a result, a set of performance indicators was selected to evaluate all optimal solutions provided to different possible scenarios and combinations of these scenarios, and to compare these outcomes with the real results observed by the mill in the study case area. Results showed that it is possible to elaborate a linear programming model that adequately represents harvesting limitations, production aspects and environmental and supply constraints. The comparison involving the evaluated scenarios and the real observed results showed the advantage of using more holistic approaches and that it is possible to improve the quality of the planning recommendations using linear programming techniques.

Investigating technical and scale efficiencies of Australian universities through data envelopment analysis

Performance indicators in the public sector have often been criticised for being inadequate and not conducive to analysing efficiency. The main objective of this study is to use data envelopment analysis (DEA) to examine the relative efficiency of Australian universities. Three performance models are developed, namely, overall performance, performance on delivery of educational services, and performance on fee-paying enrolments. The findings based on 1995 data show that the university sector was performing well on technical and scale efficiency but there was room for improving performance on fee-paying enrolments. There were also small slacks in input utilisation. More universities were operating at decreasing returns to scale, indicating a potential to downsize. DEA helps in identifying the reference sets for inefficient institutions and objectively determines productivity improvements. As such, it can be a valuable benchmarking tool for educational administrators and assist in more efficient allocation of scarce resources. In the absence of market mechanisms to price educational outputs, which renders traditional production or cost functions inappropriate, universities are particularly obliged to seek alternative efficiency analysis methods such as DEA.

The validity of publication and citation counts for Sociology and other selected disciplines

The use of bibliometric data is a means of comparing. research productivity and scholarly. impact for individuals, work groups, institutions and nations within and between disciplines. Central to this debate is the notion that disciplines differ in the ways in which,they exchange ideas and disseminate information and therefore have diverse publishing and citation patterns. In this article we use two different approaches to compiling bibliometric data to compare publishing patterns of five different disciplines that encompass Molecular Biology; Administration/Political Science, Psychology,. Philosophy and Sociology/Anthropology. We find that the social sciences differ from each other as well as from the physical sciences in their publication and citation patterns. Further, while the different ways of organizing the data produce somewhat different results, the substantive findings for the general patterning of publications and citations of disciplines are consistent for both data sets. Sociology/Anthropology, when compared with the other disciplines, shows substantial differences across universities.

Balanced Scorecard: adequa????o para a gest??o estrat??gica nas organiza????es p??blicas

Os ??rg??os da Administra????o P??blica Federal (APF) ter??o maior ??xito no alcance de seus objetivos estrat??gicos, investindo na implanta????o de um modelo de gest??o estrat??gica, adaptado para o ambiente de governo, mantendo o alinhamento estrat??gico com os ??rg??os normativos e de controle. Este artigo tem como objetivo apresentar um modelo de gest??o estrat??gica, adaptado a partir das perspectivas do Balanced Scorecard (BSC) desenvolvido pelos professores da Harvard Business School, Robert Kaplan e David Norton, em 1992, para ser utilizado pelos ??rg??os da APF; tal modelo mant??m um alinhamento estrat??gico organizacional com as recomenda????es do Tribunal de Contas da Uni??o (TCU). O modelo ir?? permitir a gest??o estrat??gica a partir da identifica????o dos objetivos estrat??gicos, metas, indicadores e a????es referentes ??s perspectivas do Balanced Scorecard, o que permitir?? o equil??brio entre os indicadores de efici??ncia no acompanhamento das metas de cada ??rg??o da APF, colaborando para uma gest??o estrat??gica integrada, que venha a modernizar a gest??o p??blica, agilizando as tomadas de decis??es e a troca de informa????es.

Desempenho empresarial e o valor da empresa no mercado de capitais: evidência empírica para o mercado de capitais português

The main objective of this paper is to analyse the effect of firms’ performance indicators in explaining the price of stocks in the Portuguese capital market, using a fundamental analysis. In the empirical setting, firms’ performance indicators are gathered into two groups: (1) economic and financial indicators and (2) stock market indicators. Using a sample of 38 firms quoted at Euronext Lisbon, estimates are obtained trough an Ordinary Least Squares (OLS) model and report to December, 31 2007. Results suggest that performance indicators are able to explain the firms’ stock market price. There is a significant positive impact of sales growth and of payout ratio, while we find a statistically significant negative effect of the firm’s financial autonomy on the stock market price for the majority of firms quoted at Euronext Lisbon.

Conception of a flexible integrator and lean model for integrated management systems

Management systems standards (MSSs) have developed in an unprecedented manner in the last few years. These MSS cover a wide array of different disciplines, aims and activities of organisations. Also, organisations are populated with an enormous diversity of independent management systems (MSs). An integrated management system (IMS) tends to integrate some or all components of the business. Maximising their integration in one coherent and efficient MS is increasingly a strategic priority and constitutes an opportunity for businesses to be more competitive and consequently, promote its sustainable success. Those organisations that are quicker and more efficient in their integration and continuous improvement will have a competitive advantage in obtaining sustainable value in our global and competitive business world. Several scholars have proposed various theoretical approaches regarding the integration of management sub-systems, leading to the conclusion that there is no common practice for all organisations as they encompass different characteristics. One other author shows that several tangible and intangible gains for organisations, as well as to their internal and external stakeholders, are achieved with the integration of the individual standardised MSs. The purpose of this work was to conceive a model, Flexible, Integrator and Lean for IMSs, according to ISO 9001 for quality; ISO 14001 for environment and OHSAS 18001 for occupational health and safety (IMS–QES), that can be adapted and progressively assimilate other MSs, such as, SA 8000/ISO 26000 for social accountability, ISO 31000 for risk management and ISO/IEC 27001 for information security management, among others. The IMS–QES model was designed in the real environment of an industrial Portuguese small and medium enterprise, that over the years has been adopting, gradually, in whole or in part, individual MSSs. The developed model is based on a preliminary investigation conducted through a questionnaire. The strategy and research methods have taken into consideration the case study. Among the main findings of the survey we highlight: the creation of added value for the business through the elimination of several organisational wastes; the integrated management of the sustainability components; the elimination of conflicts between independent MS; dialogue with the main stakeholders and commitment to their ongoing satisfaction and increased contribution to the company’s competitiveness; and greater valorisation and motivation of employees as a result of the expansion of their skill base, actions and responsibilities, with their consequent empowerment. A set of key performance indicators (KPIs) constitute the support, in a perspective of business excellence, to the follow up of the organisation’s progress towards the vision and achievement of the defined objectives in the context of each component of the IMS model. The conceived model had many phases and the one presented in this work is the last required for the integration of quality, environment, safety and others individual standardised MSs. Globally, the investigation results, by themselves, justified and prioritised the conception of an IMS–QES model, to be implemented at the company where the investigation was conducted, but also a generic model of an IMS, which may be more flexible, integrator and lean as possible, potentiating the efficiency, added value both in the present and, fundamentally, for future.

Indicadores avançados para o investimento directo estrangeiro: aplicação ao caso português

RESUMO:O investimento directo estrangeiro tem sido um dos factores com maior importância, no crescimento económico dos países em desenvolvimento, por contribuir para financiar o défice da balança corrente com o exterior, em particular a balança comercial. Num âmbito mais microeconómico é um forte gerador de emprego, proporciona avanços tecnológicos importantes, permitindo a partilha de conhecimentos das tecnologias, o conhecimento de novas formas de gestão e novas formas de marketing. Este trabalho tem como objectivo principal, identificar potenciais variáveis como indicadores avançados para o investimento directo estrangeiro, de modo a antecipar possíveis tendências para a sua evolução. Para alcançar este propósito recorreu-se aos Modelos Autoregressivos Vectoriais (VAR) e à causalidade de Granger com base em dados mensais para o período de Janeiro de 1996 a Setembro de 2010. Foram consideradas variáveis essenvialmente macroeconómicas, tanto do lado da economia receptora como dos países investidores, de modo a reflectirem a actividade económica ao longo do período de estudo. ABSTRACT: The foreign direct investment, has been one of the main factors in the economical development for the countries that are in a process of developing, because it allows the generation of new investments and generate money from the return of the investment, as well as it creates new opportunities for the employment. It allows important technologic advances with the share of the technology Knowledge as well new ways to learn marketing management and enterprise management. This work/research, aims to identify potential variables as advanced indicators for the foreign direct investment, in order to anticipate possible trends of their evolution. To achieve this goal, Vector Autoregressive Models (VAR) and Granger causality based on based on monthly data for the period January between 1996 and September of 2010, were used. Essentially macroeconomic variables were considered, on both the host economy and the countries investors in order to reflect the economic activity throughout the study period.

A comparative benchmarking analysis of main Iberian container terminals: a DEA approach

Benchmarking is an important tool to organisations to improve their productivity, product quality, process efficiency or services. From Benchmarking the organisations could compare their performance with competitors and identify their strengths and weaknesses. This study intends to do a benchmarking analysis on the main Iberian Sea ports with a special focus on their container terminals efficiency. To attain this, the DEA (data envelopment analysis) is used since it is considered by several researchers as the most effective method to quantify a set of key performance indicators. In order to reach a more reliable diagnosis tool the DEA is used together with the data mining in comparing the sea ports operational data of container terminals during 2007.Taking into account that sea ports are global logistics networks the performance evaluation is essential to an effective decision making in order to improve their efficiency and, therefore, their competitiveness.

Análise de desempenho em redes móveis Long Term Evolution (Parceria CELFINET)

A rede móvel Long Term Evolution (LTE) é uma tecnologia que está a ser fortemente implementada, não só em Portugal mas no resto do mundo. A adoção do LTE deve-se em grande parte à maior capacidade e à baixa latência oferecidas, para além de ser expansível ao LTE-Advanced. O trabalho apresentado tem por objetivo a análise do desempenho de uma rede LTE piloto e comparar os resultados com o teoricamente expectável. Foi adotada uma metodologia de planeamento em LTE e comprovada através das medidas empíricas realizadas. Dessas medições são também sugeridos dois novos modelos de propagação para LTE nos 2,6 GHz. Para distâncias inferiores a 1 km sugere-se o modelo LTE-PL. Para distâncias superiores a 1 km foi feita uma adaptação ao modelo Okumura-Hata para que se aproximasse aos resultados obtidos. Das medições efetuadas observou-se que em boas condições rádio, os débitos bináriossão bastante próximos dos máximos teóricos. Além disso foi obtido o desvio padrão em LTE de uma área Urbano Denso de 12 dB. Foi ainda possível definir uma margem para as perdas de penetração in-car de 2,7 dB. Efetuou-se uma análise de vários Key Performance Indicators que permitem avaliar o desempenho do LTE, tendo também sido definidas categorias de qualidade de serviço. Por último foi avaliado o impacto da velocidade e da distância, pelas medidas realizadas.

Planeamento e otimização de femto-células em ambiente empresarial

O objetivo deste trabalho consiste em avaliar as capacidades das femto-células, no âmbito do planeamento e otimização de redes Universal Mobile Telecommunication System (UMTS) instaladas no interior de edifícios num ambiente empresarial. A avaliação será feita através do estudo da tecnologia das femto-células, e do planeamento efetuado num cenário real onde, através do desenvolvimento e teste de um conjunto parametrizações, será avaliado o funcionamento das femto-células assim como forma de otimizar o seu desempenho. O estudo realizado permitiu identificar um conjunto de características que as femto-células partilham com as Self-Organizing Networks (SON), como a auto-configuração, auto-otimização de parâmetros rádio, ajuste dinâmico da área de cobertura, atribuição automática de Scrambling Codes (SC) e da frequência da portadora, criação automática de relações de vizinhança, entre outras, que permitem facilitar o processo de planeamento e otimização de redes móveis UMTS. Recorrendo a um cenário empresarial real, foi efetuado um planeamento celular indoor de raiz, através do qual foi possível testar o funcionamento da algumas das principais funções das femto-células, nomeadamente a capacidade de ajuste dinâmico da área de cobertura. Foi também avaliado o funcionamento de um grupo co-localizado de femto-células, onde foi possível testar parametrizações com o objetivo de melhorar o processo de handover entre as femto-células do grupo, e entre estas e a rede macro Global System for Mobile Communications (GSM). A avaliação de cada um de cada uma das parametrizações testada, é efetuada a partir das medidas recolhidas no terreno, recorrendo à ferramenta TEMS® Investigation, assim como aos Key Performance Indicators (KPIs) que as femto-células disponibilizam. Os resultados obtidos mostram o benefício da utilização das femto-células num ambiente empresarial real, assim como os eventuais problemas e desafios que podem surguir do planeamento celular indoor recorrendo à tecnologia das femto-células, sendo apresentada a parametrização que permite obter o melhor desempenho da rede instalada.

Divulgação de indicadores sociais: outra dimensão para informações contabilísticas

Mestrado em Contabilidade

A Model to Evaluate Vertical Handovers on JRRM

In a heterogeneous cellular networks environment, users behaviour and network deployment configuration parameters have an impact on the overall Quality of Service. This paper proposes a new and simple model that, on the one hand, explores the users behaviour impact on the network by having mobility, multi-service usage and traffic generation profiles as inputs, and on the other, enables the network setup configuration evaluation impact on the Joint Radio Resource Management (JRRM), assessing some basic JRRM performance indicators, like Vertical Handover (VHO) probabilities, average bit rates, and number of active users, among others. VHO plays an important role in fulfilling seamless users sessions transfer when mobile terminals cross different Radio Access Technologies (RATs) boundaries. Results show that high bit rate RATs suffer and generate more influence from/on other RATs, by producing additional signalling traffic to a JRRM entity. Results also show that the VHOs probability can range from 5 up to 65%, depending on RATs cluster radius and users mobility profile.

O Balanced Scorecard como instrumento de gestão estratégica: sua implementação numa empresa de engenharia e construção

Mestrado em Contabilidade e Gestão das Instituições Financeiras