Perceived organisational support: A prospective proxy of the individual manager’s commitment to strategic decision-making in organisational context

The purpose of this research project was the design of a model, which provides possible explanations of the behaviour of individual managers in organisational contexts when involved in strategic decision-making, but also some prospective level of prediction. The model proposed integrates variables that are related to each individual manager, such as the experiences with decision-making outcomes and the illusions of control that individual managers have, variables which derive from the perceptions that individual managers have of some components of their organisational contexts and perceptions of the risks intrinsic to each topic, which is subjected to decision-making processes. The organisational support for risk-taking, which is perceived by each individual manager, is considered as a proxy of the perception that that manager has of the risks for him or herself, and as a proxy of his or her behaviour, that is, is seen as a predictor of the willingness of the individual manager to engage in strategic decision-making activities on the behalf of his or her organisation. The data gathered by the questionnaire, and the hypotheses defined in accordance with the model proposed, were treated within the structural equation modelling framework. The results provide support for the model proposed and suggest that the perceived organisational support has antecedents, which had neither been proposed nor tested thus far. The findings of this study provide individual managers and their organisations with a better understanding of the variables involved in risk perception and risk behaviour, thus providing additional tools for risk management.O objectivo deste projecto foi a concepção de um modelo que fornecesse possíveis explicações para o comportamento individual de gerentes e gestores em contexto organizacional, quando envolvidos na tomada de decisões estratégicas, mas também que previsse esse mesmo comportamento. O modelo proposto considera variáveis que estão relacionadas com cada indivíduo, tais como a experiência com resultados de tomadas de decisão e com o controlo que pensam exercer sobre os assuntos a decidir e sobre as variáveis relacionadas com fatores que resultam dos contextos organizacionais. O apoio da organização para a assunção de riscos que é percebido por cada indivíduo é considerado neste estudo como um indicador da percepção que cada um dos indivíduos tem dos riscos em que pode incorrer ele próprio, e, consequentemente, como um indicador do respetivo comportamento e da vontade desse indivíduo participar na tomada de decisões estratégicas organizacionais. Os dados obtidos através do questionário final, e as hipóteses definidas de acordo com o modelo proposto, foram analisados com recurso a modelos de equações estruturais. Os resultados sugerem que o modelo proposto é fundamentado e que o apoio organizacional à assunção de riscos dependerá também de outros determinantes que não tinham sido anteriormente considerados nem testados. Os resultados deste estudo permitirão aos gerentes e gestores a título individual e ainda às respectivas organizações, uma compreensão mais aprofundada das variáveis envolvidas na percepção dos riscos e nos comportamentos face aos riscos, proporcionando medidas adicionais de gestão de risco

The disintegration of the urban limits of Lisbon in the early 1960’s. Portuguese architectural debate about exclusion and the importance of the historic city

In the early s, the uncontrolled growth of the suburban areas of Lisbon invading peripheral territory, was destroying the definition of its urban limits. At that moment, a new generation of Portuguese modern architecture, identifies two key-problems in the growth of the city. First, the uncontrolled expansion of its periphery, transformed into a suburb, and second, the permanent destruction of the integrity of the centre, caused by the unTualified replacement of old buildings by new ones. But this debate had two different dimensions ± a dimension of urban design and a social one. 2n the urban design dimension, it was urgent to review some of the principles of modern planning and to recover the permanent urban values of the historic city. But on the social dimension, the architects of the new generation unconditionally adopted the modern principles expressed in the Athens Charter, and demanded the right of the population to housing and to inhabit the city.info:eu-repo/semantics/publishedVersio

AV Zones – Tablet app for audiovisual performance

We have identified potential for tablets to be used as stand-alone tools for audiovisual performance, and not simply as controllers, due to their portability, expressive capabilities of multi-touch, and processing power. To explore this potential, we have developed AV Zones (AudioVisual Zones), an iPad app for audiovisual performance. In a preliminary phase, we conducted interviews with audiovisual performers and a workshop, to understand user needs and desires. We then developed AV Zones, an iPad app for audiovisual performance, composed of an audio sequencer/looper with a visualizer. It explores the interactive potential of a touch screen tablet for integrated musical and visual expression. By default, 3 audiovisual columns or “zones” allow for the manipulation of 3 audio loops. These zones are metaphorical adaptations of channels in a standard audio mixer

Iteration of quadratic maps on matrix algebras

We study the iteration of a quadratic family in the algebra of 2 × 2 real matrices, parameterized by a matrix C. We analyze and classify the existing cycles (periodic orbits) and their dependence on the parameter matrix. We discuss how new dynamical phenomena occur as a consequence of the noncommutativity of the matrix product. In particular, we show that the commutator of the initial condition with parameter matrix C has a decisive role in the overall dynamics

Orbit Representations from Linear mod 1 Transformations

We show that every point $x_0\in [0,1]$ carries a representation of a $C^*$-algebra that encodes the orbit structure of the linear mod 1 interval map $f_{\beta,\alpha}(x)=\beta x +\alpha$. Such $C^*$-algebra is generated by partial isometries arising from the subintervals of monotonicity of the underlying map $f_{\beta,\alpha}$. Then we prove that such representation is irreducible. Moreover two such of representations are unitarily equivalent if and only if the points belong to the same generalized orbit, for every $\alpha\in [0,1[$ and $\beta\geq 1$

An analysis of the ACS / Dragados merger

JEL Classification System G14 - Information and Market Efficiency; Event Studies G34 – Mergers; Acquisitions; Restructuring; Corporate GovernanceThis dissertation analyses the merger between ACS, Actividades de Construcción y Servicios, S.A. (“ACS”) and Dragados, S.A. (“Dragados”), which occurred between 2002 and 2003. ACS, one of the leading construction companies in Spain, growing through acquisitions since mid 1980’s, acquired in April 19, 2002, Santander Central Hispano’s stake in the competitor Dragados (23.5% of share capital). In the following year, ACS acquired, in the market, another 10% of Dragados share capital (as of March 21, 2003) and, later in that year (as of December 15, 2003), a merger between the two companies was completed and full integration was initiated. This dissertation characterizes both companies, goes through the mains events of the merger process, looks at the operation rationale, and tries to determine if the premiums paid by ACS versus Dragados’ closing price at (i) the date of Santander Central Hispano stake acquisition (59% premium), (ii) nine months later, at the date of the acquisition of the further 10% (36% premium) and (iii) implicit in the final merger conditions (1% premium) were, as of December 2003, positively outbalanced with stock price evolution until the merger was concluded and with future synergies to be achieved after full integration of the two companies. The final outcome is that, as of December 31, 2003, the merger had a strong rationale and, despite the referred premiums paid by ACS, globally created value to ACS shareholders, mainly due to both stock price evolution and the future synergies to be achieved: tax savings on goodwill amortization, headcount reduction and economies of scale in cost structure. Also, I present a brief event study to show that Dragados shareholders benefited from positive speculative movements around the target stock price at the day of the first acquisition announcement (April 19, 2002). Final Note – This dissertation contains information and forward-looking statements of the time of the merger process, with respect to ACS, Dragados and to ACS / Dragados new group (“New ACS”) compiled from different sources. Therefore, market evolution of both companies and actual results may differ materially from the information and results presented in this dissertation.Esta dissertação analisa a fusão entre a ACS e a Dragados, a qual ocorreu entre 2002 e 2003. ACS, uma das empresas espanholas de construção líderes em Espanha, a crescer via aquisições desde meados da década de 80, adquiriu, a 18 de Abril de 2002, a participação que o Banco Santander Central Hispano detinha na concorrente Dragados (23.5% do capital da empresa).No ano seguinte, a ACS adquiriu, em bolsa, outros 10% do capital da Dragados (concretizada a 21 de Março de 2003) e, mais tarde nesse ano (concretizado a 15 de Dezembro de 2003), a fusão entre as duas empresas foi concluída e deu-se início à integração total das duas empresas. Esta dissertação caracteriza ambas as empresas, descreve os principais eventos do processo de fusão, olha em detalhe para o racional da operação e procura determinar se os prémios pagos pela ACS versus a cotação de fecho das acções da Dragados: (i) na data da aquisição da participação do Santander Central Hispano (prémio de 59%), (ii) nove meses depois, na data da aquisição dos 10% adicionais (prémio de 36%) e (iii) implícito nas condições finais da fusão (prémio de 1%) foram, a Dezembro de 2003, contrabalançados positivamente pela evolução da cotação da acções da ACS e da Dragados até à data da conclusão da fusão e pelas sinergias futuras a serem alcançadas com a integração total das duas empresas. As conclusões obtidas com a dissertação indicam que, à data de 31 de Dezembro de 2003, a fusão possuía um forte racional e, apesar dos prémios pagos pela ACS, criou valor para os accionistas, principalmente devido à evolução da cotação de ambas as acções e às futuras sinergias a obter, nomeadamente poupanças fiscais com a amortização do goodwill, reduções na estrutura de pessoal e economias de escala na estrutura de custos. Adicionalmente, é apresentado nesta dissertação um breve event study que demonstra o benefício obtido pelos accionistas da ACS devido a variações especulativas positivas na cotação das suas acções, no dia do anúncio da aquisição da participação do Santander Central Hispano (19 de Abril de 2002). Nota Final – Esta dissertação contém informações e projecções da ACS, Dragados e New ACS, compiladas de diferentes fontes de informação, que se reportam ao período em que decorreu o processo de fusão. Assim, a evolução de mercado de ambas as empresas e os resultados actuais podem diferir materialmente da informação e resultados alcançados nesta dissertação