Comparison of portfolios: research on fundamental indices and recurrent indices

Treball Final de Grau en Finances i Comptabilitat. Codi: FC1049. Curs acadèmic: 2021-2022Portfolios constructed on the basis of fundamental metrics have been the subject of research over the years and are an area of great interest in portfolio investment.They have been constructed according to the Market capitalization and the naïve portfolio. Moreover, They have been studied and analyzed by different economists as well as compared by investors with the recurrent and most used portfolios. Since there has been a growing interest in this topic in recent years, this research presents different studies by researchers who have conducted empirical studies in which it is compared constructed portfolios by fundamental metrics with the most recurrent portfolios that got different results and therefore different conclusions. So far, there are still disagreements about which of these strategies performs best. That is why the main objective of this project is to find out which portfolio has the best results among all of them that have been analyzed. Hence this project focuses on portfolios based on fundamental factors and compares them with the portfolios used by investors or analysts. The portfolios based on fundamental metrics that have been studied in this work are: portfolio based on Return on Assets, portfolio based on Return on Equity and portfolio based on the fundamental metric Debt to Equity The portfolio is constructed with 35 companies that have been part of the Ibex 35 during the period from 2018 to 2020

North of Portugal and Galicia (Spain) as tourism destinations: residents’ evaluation

The dry border between the North of Portugal and Galicia presents structural, demographic and economic problems that must be overcome, but also natural, cultural and touristic resources that must be enhanced. From a more critical perspective, tourism must be discussed as an important strategic sector for the economy of Galicia-North of Portugal Euroregion and in particular, the dry borders’ economy, providing benefits, in a sustainable way. Border regions have been targeted areas for some EU-level investment interventions in order to allocate infrastructure and equipment considered key to boosting the territory, attracting investment in order to establish residents. The symbolic capital of this region lies precisely in its natural, architectural landscapes, as well as in several products in the region framed globally in endogenous resources. The aim of this research is to identify the potential for strategic cooperation between these two territories, and understand residents' perceptions about the impact of tourism, as an important economic activity, in these regions, through strategic partnerships between stakeholders and DMO’s, in the two countries, and also by valuing the border as a tourism destination, and not just as a line separating two territories and two nations.info:eu-repo/semantics/publishedVersio

Kinetics of the thermal and photochemical decomposition of aquapentacyanoferrate(III) in aqueous solution

The kinetics of the thermal and photochemical decomposition of aquapentacyanoferrate(III) ion in aqueous solution in the presence ofo-phenanthroline was studied spectrophotometrically. The first-order rate constant (k; ϑ) at 30° C [I=1 M(NaCl)] for the thermal reaction is (1.49±0.13)×10−6 s−1 with ΔH; ≠=(158±7)kJ mol−1 and ΔS≠=(42±4) JK−1 mol−1. The initial quantum yield for the photochemical reaction at pH=7 is independent of the light intensity and is (1.49±0.33)×10−2 mol einstein−1.Centro de Química Inorgánic

Antioxidant peptides from alternative sources reduce lipid oxidation in 5% fish oil-in-water emulsions (pH 4) and fish oil-enriched mayonnaise

Bioinformatics tools were used to predict radical scavenging and metal chelating activities of peptides derived from abundant potato, seaweed, microbial, and spinach proteins. The antioxidant activity was evaluated in 5% oil-in-water emulsions (pH4) and best-performing peptides were tested in mayonnaise and compared with EDTA. Emulsion physical stability was intact. The peptide DDDNLVLPEVYDQD showed the highest protection against oxidation in both emulsions by retarding the formation of oxidation products and depletion of tocopherols during storage, but it was less efficient than EDTA when evaluated in mayonnaise. In low-fat emulsions, formation of hydroperoxides was reduced 4-folds after 5 days compared to control. The concentration effect of the peptide was confirmed in mayonnaise at the EDTA equimolar concentration. The second-best performing peptides were NNKWVPCLEFETEHGFVYREHH in emulsion and AGDWLIGDR in mayonnaise. In general, the peptide efficacy was higher in low-fat emulsions. Results demonstrated that peptide negative net charge was important for chelating activity.Innovation Fund Denmark (Grant No.: 7045-00021B)

Conceptualizações sobre o aprender ao longo da escolaridade

Este estudo identifica concepções de aprendizagem de estudantes explorando eventuais diferenças desenvolvimentais e relacionadas com diferentes experiências de aprendizagem ao longo de etapas educativas fulcrais do sistema educativo português. A investigação foi realizada numa perspectiva fenomenográfica com 48 estudantes pertencentes ao 9.º ano, 12-º ano e 4.º ano de cursos de licenciatura universitária sobre concepções de aprendizagem. Exploraram-se concepções sobre o que é aprender e diversas dimensões do fenómeno aprendizagem nomeadamente no que diz respeito à função da aprendizagem e ao que é preciso para se aprender. Os dados foram obtidos através de entrevistas gravadas, transcritas integralmente e sujeitas a análise de conteúdo (Grácio, 2002). Foram identificadas não só concepções anteriormente referenciadas na literatura como também novas concepções sobre a aprendizagem. Os dados serão analisados e discutidas implicações educativas.This study identifies student’s learning conceptions exploring possible developmental differences connected with different learning experiences through central educational platforms of the Portuguese educational system. The research was made through a phenomenographic perspective using a sample of 48 students from the 9th, 12th and 4th year of college graduation. We explored conceptions on what learning is and, for the first time, several dimensions of the learning phenomenon, specifically in what concerns the function of learning and what is needed in order to learn. Data was obtained through recorded interviews, fully transcript and subject to content analysis (Grácio, 2002). There have been identifies not only conceptions already referred in previous literature but also new conceptions on learning. Data will be analysed and their educational consequences discussed

Can an open displaced tibial fracture be treated without surgery? a treatment discussion: a case report

The authors present a case of a 70-year-old female with left tibial open fracture (Gustillo-Anderson type II) with previous history of trauma of the same limb, from which resulted a Morel-Lavallée injury complicated with extensive tissue necrosis. Considering the sequel condition of soft tissues (scarring and extensive fibrosis), conservative treatment was taken and successful result was achieved. In this case the biggest concern was not the traumatic tissue damage caused by the fall, but the poor quality of tissues already existent before this event. Although surgical treatment is the gold standard in these cases, we must analyze case by case the risk benefit of each procedure and choose the one we believe is the best for the patient

Treatment and seroconversion in a cohort of children suffering from recent chronic Chagas infection in Yoro, Honduras

Between 1999-2002, Médécins Sans Frontières-Spain implemented a project seeking to determine the efficacy and safety of benznidazole in the treatment of recent chronic Chagas disease in a cohort of seropositive children in the Yoro Department, Honduras. A total of 24,471 children were screened for Trypanosoma cruzi IgG antibodies through conventional enzyme-linked immunosorbent assays (ELISA) on filter paper. Recombinant ELISA (0.93% seroprevalence) showed 256 initially reactive cases, including 232 confirmed positive cases. Of these, 231 individuals were treated with benznidazole (7.5 mg/kg/day) for 60 days and were followed with a strict weekly medical control and follow-up protocol. At the end of the project, 229 patients were examined by the Honduras Secretariat of Health for post-treatment serological assessments; 88.2% seroconverted after 18 months and 93.9% seroconverted after three years. No differences were found in the seroconversion rates according to age or sex. Most of the side effects of the treatment were minor. These results support the argument that in areas where T. cruzi I is predominant and in areas affected by T. cruzi II, when vector transmission has been interrupted, Chagas disease diagnosis and treatment are feasible, necessary and ethically indisputable

Global torques and stochasticity as the drivers of massive black hole pairing in the young Universe

The forthcoming Laser Interferometer Space Antenna (LISA) will probe the population of coalescing massive black hole (MBH) binaries up to the onset of structure formation. Here we simulate the galactic-scale pairing of $\sim10^6 M_\odot$ MBHs in a typical, non-clumpy main-sequence galaxy embedded in a cosmological environment at $z = 7-6$. In order to increase our statistical sample, we adopt a strategy that allows us to follow the evolution of six secondary MBHs concomitantly. We find that the magnitude of the dynamical-friction induced torques is significantly smaller than that of the large-scale, stochastic gravitational torques arising from the perturbed and morphologically evolving galactic disc, suggesting that the standard dynamical friction treatment is inadequate for realistic galaxies at high redshift. The dynamical evolution of MBHs is very stochastic, and a variation in the initial orbital phase can lead to a drastically different time-scale for the inspiral. Most remarkably, the development of a galactic bar in the host system either significantly accelerates the inspiral by dragging a secondary MBH into the centre, or ultimately hinders the orbital decay by scattering the MBH in the galaxy outskirts. The latter occurs more rarely, suggesting that galactic bars overall promote MBH inspiral and binary coalescence. The orbital decay time can be an order of magnitude shorter than what would be predicted relying on dynamical friction alone. The stochasticity, and the important role of global torques, have crucial implications for the rates of MBH coalescences in the early Universe: both have to be accounted for when making predictions for the upcoming LISA observatory.Comment: Accepted for publication in MNRAS; 15 pages, 10 Figures, 2 Table

Surface activity levels of 7Be, 210Pb, 40K and other atmospheric species and teh influence of African air mass intrusions

The high frequency of mineral dust plumes blown across from Africa to the Iberian Peninsula significantly affects dust levels in the atmosphere. Therefore, it is of great interest to analyse and quantify the African dust loading over the region due to the impact it has on air quality. This work presents results from a 2-year sampling campaign carried out to provide information on the frequency and impact of these African dust episodes on the concentrations of radioactive matter and non radioactive matter in the lower atmosphere at this Mediterranean coastal site. Aerosol samples for radiometric measurements were collected at the University of Málaga (36° 43′ 40″ N; 4° 28′ 8″ W) over 3-day periods using a high-volume sampler fitted with square polypropylene filters. All the radiometric measurements were performed by low-level gamma spectrometry with a coaxial-type germanium detector. The identification of African events was confirmed by means of 4-day backward trajectories (at 500, 1500, 3000 m.a.g.l.) computed using the HYSPLIT model and BSC-Dream8b dust images. Higher average concentration values were found for the three radionuclides in the set of samples collected under the influence of African dust events. The correlation patterns of the three radionuclides with meteorological variables and with the concentrations of the other atmospheric species were examined, both on the total set as well as on dusty and non-dusty basis.Universidad de Málaga. Campus de Excelencia Internacional de Andalucía Tec