Financing and investing mechanisms in Swiss sustainable entrepreneurship : an exploratory case study

This Master’s Final Work is aimed to present a holistic perspective on the Swiss Sustainable Entrepreneurial Ecosystem, and the respective Financing and Investing mechanisms behind the Capital Structure decisions of a startup. The methodology used was based on an exploratory case study through empiric work on interviews, direct observation from conferences and network gatherings, participative observation through an internship in organizational context, and deeper research from benchmarking reports. Moreover, from the findings and data collected, the main conclusions drawn are based on listed companies whose capital structure is not optimal targeted, but rather with a preference order and more likelihood to resource to debt given their high liquidation value, different from conventional startups, who have less collateral power and as so will resource less to debt. Finally, sustainable startups will suffer from greater market gaps so their financing decisions are trusted mostly on internal funds, resourcing to external equity only in case of crowdfunding or impact investing solutions. Nevertheless, from the hypothesis theory and proposed model, there are still some managerial implications to bear in mind since it is a swiss specific case and an emerging market niche. As such, future research directions should focus on deepening the literature and impact investing measurement criteria and gaining practical knowledge in these fields.Este Trabalho Final de Mestrado tem por objetivo apresentar uma perspetiva holística sobre o Ecossistema do Empreendorismo Sustentável na Suíça, e os respetivos mecanismos de Financiamento e Investimento que suportam as decisões da Estrutura de Capital de startups. A metodologia utilizada foi um caso de estudo exploratório através de trabalho empírico por entrevistas, observação direta em conferências e momentos de network, observação participativa através do estágio realizado em contexto organizacional, e por relatórios de benchmarking recolhidos. Seguidamente, através dos resultados obtidos, as principais conclusões são referentes a empresas listadas no mercado que não têm estrutura de capital ótima, mas uma ordem de preferência de recorrerem a dívida, ao contrário das startups convencionais que possuem menor valor de liquidação e poder colateral. Já as startups de empreendorismo sustentável, uma vez que sofrem maiores gaps de mercado, as suas decisões de financiamento são redirecionadas para fundos internos, e posteriormente para capital externo como crowdfunding ou soluções de investimento de impacto. Todavia, pela hipótese de teoria proposta, há ainda algumas implicações a ter em conta, uma vez que é um caso de estudo específico à Suíça e retrata um nicho de mercado. Como tal, direções recomendadas para pesquisa futura prendem-se no aprofundamento da literatura e critérios de medição do paradigma de investimento de impacto, e ainda no conhecimento prático nestes setores

Cue-elicited anxiety and craving for food using virtual reality scenarios

Cue exposure therapy has been reported to be an effective intervention for reducing binge eating behavior in patients with eating disorders and obesity. However, in vivo food exposure conducted in the therapist's office presents logistical problems and lacks ecological validity. This study proposes the use of virtual reality technology as an alternative to in vivo exposure, and assesses the ability of different virtual environments to elicit anxiety and craving for food in a non-clinical sample. The results show that exposure to virtual environments provokes changes in reported craving for food. High-calorie food cues are the ones that elicit the highest increases in craving

Cue-exposure software for the treatment of bulimia nervosa and binge eating disorder

Background: Cue-exposure therapy (CET) has proven its effi cacy in treating patients with bulimia nervosa and binge eating disorder who are resistant to standard treatment. Furthermore, incorporating virtual reality (VR) technology is increasingly considered a valid exposure method that may help to increase the effi cacy of standard treatments in a variety of eating disorders. Although immersive displays improve the benefi cial effects, expensive technology is not always necessary. Method: We aimed to assess whether exposure to food related virtual environments could decrease food craving in a non-clinical sample. In addition, we specifi cally compared the effects of two VR systems (one non-immersive and one immersive) during CET. We therefore applied a one-session CET to 113 undergraduate students. Results: Decreased food craving was found during exposure to both VR environments compared with pre-treatment levels, supporting the effi cacy of VR-CET in reducing food craving. We found no signifi cant differences in craving between immersive and non-immersive systems. Conclusions: Low-cost non-immersive systems applied through 3D laptops can improve the accessibility of this technique. By reducing the costs and improving the usability, VR-CET on 3D laptops may become a viable option that can be readily applied in a greater range of clinical contexts

Fisiologia dels cecs de pollastre

The morphology and physiology of the chicken cecum is reviewed. The large intestine of the chicken is formed by the rectum and the cloaca, and two well developed ceca, which are two blind sacs, tubular in shape, that originate at the junction of the small intestine and the rectum. Light microscopy observation of the epithelium demonstrates that the proximal region has well developed villi, in contrast to distal cecum where they are either small or absent. Information hitherto available on the physiological mechanisms underlying the filling and emptying of the cecurn has been revised, and it is particularly worthy of note that cecum contents may have both ileal and rectal origins. Several functions have been suggested for the cecum of the chicken but much remains to be discovered about its real physiological significance. There is evidence that proteins and complex carbohydrates can be partially digested in the ceca. It is also claimed that the cecum is the site of production of significant amounts of free volatile fatty acids and vitamins, among other compounds. Several authors have observed absorption of electrolytes and water in the cecum. Urine can enter the ceca by a retrograde flux, which suggests that the cecal epithelium plays a role in osmoregulation in fowl, a function which may be of special relevance in dehydrated animals. Recent reports on the sugar-transport characteristics of the chicken cecum indicate that the epithelium of the proximal area possesses an active transport system as efficient as that described in the small intestine. This raises the possibility that ceca are significant in chicken nutrition, since sugar uptake can occur both during cecal filling and emptying. The physiological role of chicken ceca is not well understood. However, it has been shown that ceca are not essential for animal survival, at least in environmental conditions allowing normal feeding and hydration