Equity Research - Sport Lisboa e Benfica - Futebol, SAD

Mestrado em FinançasO presente estudo efetua uma análise detalhada da Sport Lisboa e Benfica SAD (SLBEN). A necessidade da realização deste estudo prende-se com o constante crescimento da Industria do futebol, com a hegemonia desportiva alcançada pelo Sport Lisboa e Benfica e ainda com o objetivo traçado pelos Diretores da empresa que pretendem efetuar uma grande mudança na sua estrutura de capital. Todo o estudo segue as normas e recomendações do CFA Institute. Para a realização deste estudo, foi tida em consideração toda a informação disponível à data de 7 de Setembro de 2017, sendo que quaisquer informações ou eventos ligados à Benfica SAD, ou ao mercado envolvente após essa data não tem qualquer impacto ou relevância para os resultados obtidos. Foram efetuadas duas abordagens para o cálculo do preço-alvo: uma avaliação relativa, de acordo com o método dos múltiplos e uma avaliação absoluta, tendo por base o método dos Fluxos de Caixa Descontados. De referir que por ambas as abordagens o preço-alvo atingido foi de €1.84, representado um potencial de valorização de 101.3%, uma vez que à data do levantamento do preço histórico da ação, encontrava-se valorizada a €0.92. Com base nesta informação a recomendação para as ações do SLBEN é de compra. De referir ainda que é assumido um risco médio uma vez que se trata de uma industria volátil em que os resultados desportivos tem alguma influencia nos resultados financeiros, bem como a baixa liquidez das ações referidas.The present study makes a detailed analysis of Sport Lisboa and Benfica SAD (SLBEN). The need to carry out this study is related to the constant growth of the Football Industry, with the sporting hegemony achieved by Sport Lisboa and Benfica and also with the objective drawn by the Directors of the company that intend to make a major change in its capital structure. The entire study follows the standards and recommendations of the CFA Institute. In order to carry out this study, all information available as of September 7, 2017 has been taken into account, and any information or events related to Benfica SAD or to the surrounding market after this date has no impact or relevance to the results obtained. Two approaches were used to calculate the target price: a relative valuation according to the multiples method and an absolute valuation based on the Discounted Cash Flow method. It should be noted that for both approaches the target price reached was €1.84, representing a potential appreciation of 101.3%, since at the date of the historical price of the share, it was valued at €0.92. Based on this information the recommendation for the shares of SLBEN is to purchase. It should also be noted that an average risk is assumed since it is a volatile industry in which sports results have some influence on the financial results as well as the low liquidity of the referred actions.info:eu-repo/semantics/publishedVersio

Transmissão de energia sem fios baseada em acoplamento elétrico ressonante

Doutoramento em Engenharia EletrotécnicaContained in this document are theoretical and experimental results related to the feasibility of resonant electrical coupling as a method of wirelessly transferring power across non-negligible distances. As shown, resonant electrical coupling is remarkably similar to resonant magnetic coupling in several aspects. However, while resonant magnetic coupling is currently a method of wirelessly transferring power with a very strong presence in the literature, resonant electrical coupling is not. The lack of material related to resonant electrical coupling, together with the potential of achieving a balanced trade-off between critical features such as efficiency, distance, simplicity, size and power transfer capability, were the main motivations for considering this specific topic. The possibility of constructively combining resonant electrical coupling and resonant magnetic coupling is also addressed. A review of the state of the art of wireless power, not only in terms of scientific publications but also in terms of market adoption and international standards, is included in this document.Contidos neste documento estão resultados teóricos e experimentais relacionados com a viabilidade do uso de acoplamento elétrico ressonante como um método de transferência de energia sem fios através de distâncias não negligenciáveis. Conforme mostrado, o acoplamento elétrico ressonante é notavelmente semelhante ao acoplamento magnético ressonante em vários aspetos. No entanto, enquanto que o acoplamento magnético ressonante é atualmente um método de transferência de energia sem fios com uma presença muito forte na literatura, o acoplamento elétrico ressonante não é. A ausência de material relacionado com acoplamento elétrico ressonante, em conjunto com o potencial de atingir um compromisso equilibrado entre características críticas, tais como eficiência, distância, simplicidade, tamanho e capacidade de transferência de potência, foram as principais motivações para considerar este tóptico específico. A possibilidade de combinar de forma construtiva acoplamento elétrico ressonante e acoplamento magnético ressonante é também abordada. Uma revisão do estado da arte da transferência de energia sem fios, não só em termos de publicações científicas, mas também em termos de adoção do mercado e normas internacionais, é incluída neste documento

Projecto de um sensor sem fios passivo

Mestrado em Engenharia Electrónica e TelecomunicaçõesRedes de sensores sem fios são hoje em dia utilizadas numa grande variedade de aplicações, o que justifica o facto de que os sensores que as constituem sejam igualmente diversificados. Ainda assim, quase todos eles dependem de baterias, as quais ficam sem carga normalmente muito antes do fim de vida dos restantes componentes. Para além disso, o tamanho da baterias é neste momento um impeditivo à redução do tamanho dos sensores. Uma forma de contornar estes problemas consiste em retirar as baterias dos dispositivos e em alternativa captar a energia das ondas electromagnéticas radiadas por uma fonte colocada próxima destes. Neste documento descrevem-se em detalhe um sensor sem fios projectado para captar energia de ondas rádio a 866.6MHz e a respectiva antena. Além de ser passivo, o sistema proposto é também programável, uma vez que o sensor integra um microcontrolador de uso geral, e inclui um conector de 50 e uma interface para depuração e expansão, composta por um total de 26 pinos. Em termos de performance prática, o sistema proposto á capaz de executar tarefas relacionadas com comunicação e processamento atá um máximo de 4.1 metros de distância de uma antena transmissora a operar dentro das limitações impostas pelas entidades reguladoras locais, no que diz respeito a potência.Wireless sensor networks are currently of primary importance in a multitude of applications, and therefore, it comes as no surprise that there are many types of sensor nodes as well. Yet, almost all of them operate on batteries that normally deplete long before the predicted life span of basically all the other hardware components. Not only that, the large size of the batteries is indeed actually preventing sensor nodes from becoming smaller. One way of overcoming the drawbacks related to batteries is to remove them and harvest all the necessary energy from electromagnetic waves being radiated by a nearby source. In this document, a wireless sensor node designed to harvest energy from radio waves at 866.6MHz and its antenna are proposed and described in detail. In addition to being passive, the proposed system is also programmable, given that the sensor node includes a general-purpose microcontroller, and features a 50 port, and an interface for debugging and expansion, comprised of a total of 26 pins. Lastly, with regards to practical performance, the proposed system is able to carry out communication and processing tasks at up to a distance of 4.1 meters away from a transmitter antenna radiating within the limits imposed by local regulatory entities, with respect to power

Numerical prediction of velocity, pressure and shear rate distributions in stenosed channels

Wall shear rates and pressure developed in circulatory system play an important role on the development of some clinical problems such as atherosclerosis and thrombosis. In the present work, blood flow behaviour was numerically studied in simplified domains and several relevant local properties were determined. The stenosis degree was varied in the distinct studied channels and blood rheology was described by three different models – constant viscosity, power-law model and Carreau model. Pressure attains maximum values in the wall of the atheroma and shear rates achieved maximum values in the top of the atheroma. It was also observed that, with the studied flows, the predictions for velocity and shear rate using non-Newtonian models were very similar. This observation can be explained by the magnitude of the obtained shear rates.The authors acknowledge the financial support provided by: PTDC/ SAU-BEB/108728/2008 and PTDC/SAU-BEB/105650/2008 from the FCT (Science and Technology Foundation) and COMPETE, Portugal

New plates for different types of plate heat exchangers

The first patent for a plate heat exchanger was granted in 1878 to Albretch Dracke, a German inventor. The commercial embodiment of these equipments has become available in 1923. However, the plate heat exchanger development race began in the 1930’s and these gasketed plate and frame heat exchangers were mainly used as pasteurizers (e.g. for milk and beer). Industrial plate heat exchangers were introduced in the 1950’s and initially they were converted dairy models. Brazed plate heat exchangers were developed in the late 1970’s. However, copper brazed units did not start selling until the early 80’s. Nickel brazing came to market around ten years later, since copper presents compatibility problems with some streams (e.g. ammonia). All-welded and semi-welded (laser weld) plate heat exchangers were developed during the 1980’s and early 90’s. Shell and plate heat exchangers were recently introduced in the market and can withstand relatively high pressures and temperatures, as the shell and tube does. The fusion bonded plate heat exchangers (100% stainless steel) are a technology from the 21st century, these equipments being more durable than brazed plate heat exchangers. The plates are the most important elements from the different plate heat exchangers mentioned above. This paper initially introduces the gasketed plate and frame heat exchanger and common chevron-type plates. Resorting to computer fluid dynamics techniques, the complex 3D flow in cross-corrugated chevron-type plate heat exchanger passages is visualized. Recent patents related with the plates from different plate heat exchangers are then outlined

O som e o ruído nos jardins urbanos do Porto

Tese de mestrado integrado. Engenharia do Ambiente. Universidade do Porto. Faculdade de Engenharia. 201

Blood flow in cylindrical stenosed channel – numerical approach

Arthrosclerosis means literally “arteries hardening”. However, arthrosclerosis it is a generic term that is related with three patterns of vascular diseases, which have the hardening and loss of elasticity of the arteries walls as a common factor [1]. The dominant pattern is atherosclerosis, characterized by the formation of atheroma, which is comprised by fibrous plaques that generally exhibit a centre rich in lipids. In the present work, the flow of blood in a cylindrical channel, containing an atheroma at the walls, has been numerically studied using the finite-element software package POLYFLOW®. In the simulations, blood was considered an incompressible homogenous fluid and the flow regime was the laminar regime. The rheology of the mentioned fluid was described by distinct constitutive equations [2] - constant viscosity, power-law model and Carreau model. The local behaviour of properties such as pressure, interstitial velocities, shear rate and shear stress was explored in the present investigation. The local behaviour of these properties can help to understand the formation and detachment of thrombi

Relatório de Estágio na WEBSP|WEBDS|WEBHS: Web design e design gráfico

O presente relatório de estágio descreve o trabalho desenvolvido no estágio curricular no grupo WebSP – Comércio e Prestação de Serviços Informáticos, Lda., mais concretamente na empresa WebDS – Digital Services Agency , no âmbito do Mestrado de Design e Cultura Visual. A investigação teve como objetivo o desenvolvimento de projetos e redesign de websites segundo as normas do responsive web design e do mobile first , assim como a restante comunicação digital. Depois do levantamento dos conceitos de marca, identidade da marca e branding , apresentam-se os conceitos mais relevantes para o desenvolvimento dos projetos apresentados, como: o responsive web design , a grelha, a cor, a tipografia, a imagética, o mobile first , as landing pages e a comunicação digital. De entre todos os projetos realizados no estágio, selecionaram-se três para apresentar e desenvolver o relatório de estágio. O relatório contém ainda a avaliação final do estágio pelo estagiário e pelo tutor. Como resultado, considera-se que se alcançaram soluções eficazes a nível visual e usual, atingindo níveis comunicativos mais eficientes e coerentes nos vários suportes.This internship report describes the work carried out in the curriculum internship in the WebSP group - Commerce and Provision of Computer Services, Lda., More specifically in the company WebDS - Digital Services Agency, within the scope of the Masters of Design and Visual Culture. The research’s goal was the development of projects and the redesign of websites according to the standards of responsive web design and mobile first, as well as the remaining digital communication. After raising the concepts of brand, brand identity and branding, the most relevant concepts for the development of the presented projects are shown, such as: responsive web design, grid, color, typography, imagery, mobile first, landing pages and digital communication. From all the projects carried out on the stage, three were selected to present and develop the internship report. The report also contains the final assessment of the internship by the intern and the tutor. As a result, it is considered that effective visual and usual solutions have been achieved, reaching more efficient and coherent communicative levels in the various supports

Heat transfer to Newtonian and non-Newtonian fluids in cross-corrugated chevron-type plate heat exchangers: numerical approach

Food fluids are frequently processed in plate heat exchangers (PHEs) and usually behave as non-Newtonian fluids, this behaviour being scarcely considered for PHEs design purposes. Moreover, many food fluids processed in PHEs have a high viscosity and, therefore, data obtained in laminar flow regime is useful to practical applications. The thermal-hydraulic performance of PHEs is strongly dependent on the physical properties of the fluid and on the geometrical properties of the plates namely, on the corrugation angle and on the channel aspect ratio. The mostly widely used PHEs have corrugations of the chevron type with an area enlargement factor defined as the ratio between the effective plate area and projected plate area close to 1.17. In the present work non-isothermal laminar flows of Newtonian and power-law fluids through cross-corrugated chevron-type plate heat exchangers are studied numerically in terms of the geometry of the channels. The plates area enlargement factor was a typical one (1.17), the corrugation angle varied between 30º and 60º and the flow index behaviour, n, between 0.25 and 1. The numerical calculations were performed using the commercial finite element software package POLYFLOW®. The equations solved were the conservation of mass, momentum and energy equations for laminar incompressible flow of Newtonian and power-law fluids. The simulations were performed using channels containing seven consecutive unitary cells, since thermal and hydraulic fully developed flows were achieved in the fifth or sixth consecutive cell, as described in previous works. Coefficient K from the friction curves fRe = K compares very well with experimental and semi-theoretical data for all (seven) values of corrugation angle. Nusselt number reaches a maximum in the interior of the studied corrugation angle range, for a fixed Reynolds, Re, number. Shear thinning effects greatly affect the thermal-hydraulic performance of the plate heat exchanger

Permeability and effective thermal conductivity of bisized porous media

In the region of minimum porosity of particulate binary mixtures, heat exchange and permeability were found to be higher than the ones obtained with a mono-size packing built with the same small size particles used in the binary packing. This effect was noticed in the range of the particles size ratio 0.1–1.0. The obtained improvement on thermal performance is related to the increase of effective thermal conductivity (ETC) in the binary packing and to the increase in transversal thermal dispersion due to the porosity decrease and tortuosity increase. Permeability can increase by a factor of two, if the size ratio between small and large spheres of a loose packing stays in the range 0.3–0.5.Fundação para a Ciência e a Tecnologia (FCT) - POCI/ EQU/58337/200