Affordable housing and urban regeneration in Portugal: a troubled tryst?

The process of decline in historic city centres has been inseparable from the decline in the resident population, significantly among families with greater purchasing power. Statistical data on population and housing show that the historic centres of Lisbon and Porto have maintained a recessive demographic trajectory over recent decades. Despite some signs of sporadic residential gentrification, the local social fabric continues to be characterized by an ageing population and weak educational and socio-economic capital. In the current phase of economic and social crisis, it is critical to consider whether and how the new agents of urban regeneration, in particular the Urban Rehabilitation Societies, are providing affordable housing in these areas. In this context, it makes sense to discuss the meaning of concepts and models of social and affordable housing in Portugal since they are key elements in the analysis of the sustainability and social relevance of current strategies.Apoio financeiro providenciado pela Fundação para a Ciência e Tecnologia (SFRH/BPD/75863/2011)

Urban rehabilitation, governance, and housing affordability: lessons from Portugal

This paper examines the role of ‘urban rehabilitation societies’, a legal and institutional framework launched by the Portuguese government in 2004 and implemented locally ever since. The paper discusses how this model has provided an alibi for neoliberal narratives, grounded on the virtues of the market and on market-oriented strategies. The research methodology uses a combination of qualitative documentary analysis and face-to-face interviews with government officials and public officers to scrutinize the effects of policies on issues of governance and housing affordability.Portuguese Fundação para a Ciência e Tecnologia (Grant number SFRH/BPD/75863/2011, POPH/FSE) and within the framework of a Marie Sklodowska-Curie Individual Fellowship, this project has received funding from the European Union’s Horizon 2020 research and innovation programme under grant agreement No. 747257

Models of urban rehabilitation under neoliberalism and austerity: the case of Porto

This paper critically analyses the legal and institutional framework set up by the Portuguese government in 2004 to boost ‘urban requalification’ – the Urban Rehabiliation Societies (SRUs) – and its implementation in the city of Porto. Firstly, we present a diachronic analysis that identifies phases of continuity and change in models of urban requalification in Portugal. Secondly, we present the background for the SRU model and discuss the context in which it was implemented in Porto. Thirdly, based upon a qualitative methodology, which uses literature reviews, analysis of political documents, and six semi-structured face-to-face interviews conducted with local and government officials, we analyse practices of urban requalification within a specific urban requalification operation, in the Cardosas quarter, which is an example of a large-scale requalification operation promoted by the Porto Vivo SRU in a context of public-private partnership

Models of urban requalification under neoliberalism and austerity: the case of Porto

This paper critically analyses the legal and institutional framework set up by the Portuguese government in 2004 to boost ‘urban requalification’ – the Urban Rehabiliation Societies (SRUs) – and its implementation in the city of Porto. Firstly, we present a diachronic analysis that identifies phases of continuity and change in models of urban requalification in Portugal. Secondly, we present the background for the SRU model and discuss the context in which it was implemented in Porto. Thirdly, based upon a qualitative methodology, which uses literature reviews, analysis of political documents, and six semi-structured face-to-face interviews conducted with local and government officials, we analyse practices of urban requalification3 within a specific urban requalification operation, in the Cardosas quarter, which is an example of a large-scale requalification operation promoted by the Porto Vivo SRU in a context of public-private partnership. Discussion of the results of this operation contributes to the debate on the criteria for evaluating the success of urban requalification projects from both processual and substantive perspectives vis-à-vis their effects on families and neighbourhoods. A set of research questions was formulated with this purpose in mind: • How have urban requalification strategies and goals been defined in the context of a neoliberal model which was implemented in a time of crisis and what role did partnerships with private actors play in that definition? • What groups were targeted by the requalification projects and, regarding housing, were there affordability concerns that protected less affluent populations from increasingly hostile conditions for middle class families in the historic centre of Porto? • Were the local population’s interests and local heritage considered in strategies and implementation, especially in large systematic operations such as the Cardosas? • To what extent did the Cardosas operation contribute to gentrification dynamics and to the explosive growth of tourism-related activities in the historic centre of Porto?info:eu-repo/semantics/submittedVersio

Equity research - PVH Corp

Mestrado em FinançasO objetivo desta dissertação é calcular o valor do capital próprio da empresa PVH, Corp. no final do ano de 2019. Este relatório segue o formato recomendado pelo CFA Institute. Foi realizada uma análise detalhada à situação financeira da empresa e à indústria onde esta está inserida, seguidas de uma avaliação FCD e por Múltiplos. A avaliação segundo os FCD resultou num preço por acção de $104.30, que representa um ganho de 18.90$87.72. A avaliação por múltiplos resultou num preço de $98.89, 12.73Foi realizada uma extensa Análise de Sensibilidade de modo a compreender os impactos de múltiplas variáveis no preço final da acção, e os resultados indicam que este será à volta de$114.62. Este valor representa um ganho de 30.67%, quando comparado com o preço corrente. Para complementar a Análise de Sensibilidade, foram feitas simulações Monte Carlo para melhor compreender o impacto causado pelo WACC Terminal e pela Taxa de Crescimento no valor da acção. Os resultados apontam para um preço médio por acção de $111.93, representando um ganho de 27.60A conclusão desta dissertação é portanto o aconselhamento à compra de ações da empresa.The purpose of this dissertation is to determine PVH, Corp. equity value at the end of 2019. The main motivation behind picking PVH, Corp. was the insights and expertise gain in the Fashion Luxury Apparel Industry throughout a group work performed in the curricular unit of Equity Research. This report follows the research report format recommended by the CFA Institute. It was performed a detailed analysis on the company financials and industry sector followed by a DCF and Multiples Valuation. The DCF resulted in a share price of$104.30, that represents a upside potential of 18.90% when compared to the current price of $87.72. The multiples valuation resulted in a share price of$98.89, 12.73% above the current price. An extensive Sensitivity Analysis was also performed to access the impact of multiple variables, and the result point to a Price Target rounding $114.62. This value represents an upside potential of 25.16To complement the sensitivity analysis, a Monte Carlo Simulation was also performed to better access the impact caused by the Terminal WACC and Terminal Growth Rate on Price Target. Results showed a mean Price Target of$111.93, representing an Upside Potential of 30.67%, which is near the price target computed by the DCF valuation. The probability of a BUY recommendation is close to 85%. Thus, the outcome of this dissertation is a Buy Recommendation.info:eu-repo/semantics/publishedVersio

With or without you: models of urban requalification under neoliberalismo in Portugal

Operations of urban renewal that focus upon issues of physical refurbishment are often presented as a contribution to social inclusion, via the improvement of housing and neighbourhood conditions. However, when the upgrading of the existing building stock leads to the reduction of affordable dwellings for low-income families, with housing costs increasing faster than household incomes, therefore exceeding what families can afford, different forms of displacement take place and expose resident families to several forms of social and spatial exclusion. Our aim in this chapter is to critically analyse the statutory model of urban renewal set up by the Portuguese government in 2004 and implemented locally ever since. The results show that the SRU model is reshaping former working-class districts, with a legacy of affordable private rented housing, into spaces of tourism and consumption. It also shows that this model strongly contrasts with those used in previous decades that aimed to maintain and assist poor families which, in a context of globalization and financialization in which housing is seen as a commodity and a speculative investment, is reinforcing trends of urban social and spatial inequality

Controlled Flavour Changing Neutral Couplings in Two Higgs Doublet Models

We propose a class of Two Higgs Doublet Models where there are Flavour Changing Neutral Currents (FCNC) at tree level, but under control due to the introduction of a discrete symmetry in the full Lagrangian. It is shown that in this class of models, one can have simultaneously FCNC in the up and down sectors, in contrast to the situation encountered in BGL models. The intensity of FCNC is analysed and it is shown that in this class of models one can respect all the strong constraints from experiment without unnatural fine-tuning. It is pointed out that the additional sources of flavour and CP violation are such that they can enhance significantly the generation of the Baryon Asymmetry of the Universe, with respect to the Standard Model.Comment: 29 pages, 3 figure

Coronary Arterial Circulation in the Bantu

Author Institution: Laboratory of Human Anatomy, Department of Normal Morphology, University of Luanda, AngolaHearts from 710 adult Bantus of either sex born in Angola and aged between 25 and 68 years were studied. The authors examined the morphological pattern of the coronary arteries and compared them to hearts from Caucasians. An attempt is made to relate the anatomical structure to the reduced incidence of myocardial infarction in the Bantu population. One possible explanation is that a microcirculatory adaptation to physiological conditions could act as a defense mechanism. It is evident that the intraparietal branches of the coronary artery present a greater internal diameter than those found in Caucasian hearts