Assessing the performance of private equity investments

This study presents an alternative investment projection model to estimate the future values of Private Equity (PE) investments. The performance of PE investments is assessed by analyzing the risk-return relationship relative to simulated Public Market (PM) investments that mimic the cash flow patterns of PE investments. The model allows for a quantified analysis of the underlying inputs that outline the PE performance and risks, and accounts for survivorship bias. These inputs include the fund manager’s decisions regarding the selection, leverage, size, duration and timing of investment and divestments.

Report on Knowledge Exchange workshop Price of keeping knowledge: financial streams for digital preservation

In contrast to cost modeling activities, the pricing of services must be simple and transparent. Calculating and thus knowing price structures, would not only help identify the level of detail required for cost modeling of individual instititutions, but also help develop a ”public” market for services as well as clarify the division of task and the modeling of funding and revenue streams for data preservation of public institutions. This workshop has built on the results from the workshop ”The Costs and Benefits of Keeping Knowledge” which took place 11 June 2012 in Copenhagen. This expert workshop aimed at: •Identifying ways for data repositories to abstract from their complicated cost structures and arrive at one transparent pricing structure which can be aligned with available and plausible funding schemes. Those repositories will probably need a stable institutional funding stream for data management and preservation. Are there any estimates for this, absolute or as percentage of overall cost? Part of the revenue will probably have to come through data management fees upon ingest. How could that be priced? Per dataset, per GB or as a percentage of research cost? Will it be necessary to charge access prices, as they contradict the open science paradigm? •What are the price components for pricing individual services, which prices are currently being paid e.g. to commercial providers? What are the description and conditions of the service(s) delivered and guaranteed? •What types of risks are inherent in these pricing schemes? •How can services and prices be defined in an all-inclusive and simple manner, so as to enable researchers to apply for specific amount when asking for funding of data-intensive projects?Please

Back from beyond bid-ask spread: estimating liquidity in international markets

Research on the topic of liquidity has greatly benefited from the improved availability of data. Researchers have addressed questions regarding the factors that influence bid-ask spreads and the relationship between spreads and risk, return and liquidity. Intra-day data have been used to measure the effective spread and researchers have been able to refine the concepts of liquidity to include the price impact of transactions on a trade-by-trade analysis. The growth in the creation of tax-transparent securities has greatly enhanced the visibility of securitized real estate, and has naturally led to the question of whether the increased visibility of real estate has caused market liquidity to change. Although the growth in the public market for securitized real estate has occurred in international markets, it has not been accompanied by universal publication of transaction data. Therefore this paper develops an aggregate daily data-based test for liquidity and applies the test to US data in order to check for consistency with the results of prior intra-day analysis. If the two approaches produce similar results, we can apply the same technique to markets in which less detailed data are available and offer conclusions on the liquidity of a wider set of markets.

Mercado de São Brás e seu entorno: tramas e sentidos de um lugar

Esta dissertação pretende analisar a constituição da história urbana do entorno edificado do Mercado de São Brás, em Belém do Pará, no período de 1950 a 1970, uma construção eclética que remonta ao final do ciclo da borracha na Amazônia e da gestão do Intendente Antonio Lemos. O mercado é um monumento pertencente ao acervo patrimonial do Estado e se encontra em atividade, nos dias atuais. A partir da noção de trama urbana, buscou-se estabelecer relações entre os fatos históricos e arquitetônicos, no sentido de investigar como se processaram ao longo do tempo, resultando num espaço onde a arquitetura contribui para o desenvolvimento das relações sociais e comerciais. Partindo da hipótese de que a proximidade geográfica e a importância econômica de dois equipamentos urbanos, o Mercado de São Brás e a Estação de Ferro Belém-Bragança gerou uma dinâmica que atraiu outras arquiteturas, foi investigada a influência das políticas públicas de modernização e progresso, com reflexos para o surgimento do entorno edificado e relações tipológicas com o mercado. Utilizando a metodologia de estudo de caso com estratégias combinadas entre história interpretativo-qualitativa, o trabalho busca mostrar que as funções intrínsecas às construções cumpriram seu papel e que eventos realizados em seus espaços produziram fenômenos perceptivos no lugar existencial. O mercado público e seu entorno condensam práticas sociais que aliadas a estes fenômenos asseguram sua permanência na cidade, face ao contexto da sociedade contemporânea.

O programa institucional de bolsas de iniciação à docência (PIBID) na formação de professores de matemática: perspectivas de ex-bolsistas

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Os mercados públicos municipais de São Paulo - SP: as transformações nos espaços de comércio e consumo

Fundação de Amparo à Pesquisa do Estado de São Paulo (FAPESP)

Plantar a cidade

Dissertação para obtenção do grau de Mestre em Arquitectura, apresentada na Universidade de Lisboa - Faculdade de Arquitetura.

A stated preference valuation of the non-market benefits of pollination services in the UK

Using a choice experiment survey this study examines the UK public's willingness to pay to conserve insect pollinators in relation to the levels of two pollination service benefits: maintaining local produce supplies and the aesthetic benefits of diverse wildflower assemblages. Willingness to pay was estimated using a Bayesian mixed logit with two contrasting controls for attribute non-attendance, exclusion and shrinkage. The results suggest that the UK public have an extremely strong preference to avoid a status quo scenario where pollinator populations and pollination services decline. Total willingness to pay was high and did not significantly vary between the two pollination service outputs, producing a conservative total of £379M over a sample of the tax-paying population of the UK, equivalent to £13.4 per UK taxpayer. Using a basic production function approach, the marginal value of pollination services to these attributes is also extrapolated. The study discusses the implications of these findings and directions for related future research into the non-market value of pollination and other ecosystem services.