Understanding appraiser independence : a multi-method research

Mestrado em Contabilidade, Fiscalidade e Finanças EmpresariaisEste estudo foca-se na relação entre gestores e avaliadores no sector nacional, de fundos de investimento imobiliário, com o objetivo de desenvolver um quadro teórico de como a independência dos avaliadores é percebida por ambos os agentes. Sobre a metodologia, o estudo combina uma pesquisa qualitativa através de entrevistas com especialistas para entender quais são os principais conceitos relacionados com a independência do avaliador e uma pesquisa quantitativa com base num questionário distribuído individualmente a vários gestores de fundos imobiliários e avaliadores. Podemos concluir que o conceito de independência do avaliador não tem uma definição simples e que os fatores mais citados na definição são a pressão, os conflitos de interesses, ter ética de trabalho e ser qualificado. A pesquisa qualitativa trouxe grande valor acrescentado a este estudo permitindo entender os fatores que influenciam a independência dos avaliadores. Os resultados estatísticos mostram que os cinco fatores mais correlacionados com a independência do avaliador são a dimensão do cliente, o risco de sanções disciplinares impostas por autoridades reguladoras ou de associações profissionais, o acesso a trabalhos anteriores do mesmo imóvel, forma de remuneração das avaliações e a experiência do avaliador. Além disso, também concluiu que os avaliadores e os gestores de fundos têm as mesmas perceções sobre a importância de cada fator para a independência das avaliações. Algumas limitações deste estudo são a falta de controlo direto sobre os inquiridos ao responder ao questionário e o fato dos fatores terem sido todos tratados da mesma forma.This study focuses on the relationship between fund managers and appraisers in the national sector, of real estate investment funds, with the aim of developing a theoretical framework of how the independence of the appraisers is perceived by both agents. Regarding the methodology, this study combines a qualitative interview survey with experts to understand which are the main concepts related to the appraiser´s independence and a quantitative survey based on a questionnaire distributed individually to several real estate fund managers and appraisers. We can conclude that the concept of appraiser independence does not have a simple definition and that the factors more mentioned in the definition are the pressure, the conflicts of interests, work ethic, and be qualified. The qualitative research brought great added value to this study allowing us to understand the factors that influence the appraisers? independence. The statistic results show that the five factors more correlated with the appraiser´s independence are client dimension, risk of disciplinary sanctions imposed by regulatory authorities or professional associations, access to the previous works of the same real estate, form of remuneration of the appraisals, and appraiser´s experience. Additionally, we also found that appraisers and other agents have the same perceptions about the importance of each factor to the appraisals independence. Some limitations of this study are the lack of direct control over respondents while answering the questionnaire and the fact we have handled all factors the same way

Propriedades de subcategorização verbal no português de S. Tomé

Tese de mestrado, Linguística, Universidade de Lisboa, Faculdade de Letras, 2010A presente dissertação centra-se na descrição de propriedades de subcategorização verbal do português falado em S. Tomé e Príncipe, com o objectivo de advogar a emergência de uma nova variedade linguística. No primeiro capítulo caracteriza-se o quadro linguístico das ilhas e analisa-se o fenómeno de transição histórica do português L2 a L1 no arquipélago. Desenvolve-se ainda uma breve discussão acerca do estatuto lexical/funcional da categoria preposição. No segundo capítulo apresenta-se o corpus do Português Oral de S. Tomé (POST) e uma caracterização sociolinguística dos informantes. Em seguida, descrevemse os resultados do uso das preposições em argumentos nominais e complementos oracionais, evidenciando as mais afectadas e os contextos sintácticos a elas associados. No terceiro capítulo analisam-se as estratégias de realização do argumento dativo no POST – construção de duplo objecto e construção ditransitiva preposicionada. A caracterização da chamada alternância dativa possibilita igualmente a discussão das estratégias de realização dos clíticos e de passivização. O quarto capítulo centra-se na análise sintáctico-semântica dos verbos de movimento ir e chegar, com base em critérios de telicidade e deixis. Discute-se a existência de variação entre a selecção de um SN ou de um SP, nesse caso introduzido por a ou em. No primeiro caso, serão focadas questões como a tendência geral para a transitivização directa no POST e efeitos de topicalização e, no segundo, a relevância do papel temático das preposições e da tipologia aspectual. No quinto capítulo analisam-se os fenómenos da omissão e inserção do marcador aspectual a. Colocam-se as hipóteses de, por um lado, as preposições com menos conteúdo semântico serem mais propícias à omissão e, por outro, de os falantes aplicarem a grelha argumental dos verbos plenos aos verbos auxiliares ou de reanalisarem as preposições como complementadores. O capítulo final sintetiza as conclusões deste projecto de investigação e aponta hipóteses de investigação futura.Abstract: This thesis is concerned with the properties of verbal subcategorization of Portuguese spoken in São Tomé e Príncipe, showing the emergence of a new language variety in this archipelago. The first chapter characterizes the linguistic situation of the islands and analyzes the acquisition of Portuguese from a diachronic point of view. In addition, a brief discussion of the lexical/functional status of the category preposition will be present. The second chapter documents the corpus of Portuguese spoken in São Tomé (POST – Português Oral de São Tomé) and the sociolinguistic data of the informants. I will further present the results of the use of the most affected prepositions in nominal arguments and complement clauses and the syntactic contexts they occur in. The third chapter examines the dative construction. Double object constructions constitute a prominent feature in the POST data and occur with [±HUM] arguments. An additional strategy consists of the use of the preposition para as a substitute for Case marker a. Related properties, such as clitic and passive strategies, will also be addressed. The fourth chapter provides a syntactic-semantic analysis of deitic motion verbs ir and chegar, focusing on the variation between the selection of SNs or SPs introduced by a ou em. I argue that a general trend toward transitivization in the POST data, as well as the effects of argument topicalization, are largely responsible for the patterns involving SNs. In the case of the SPs, the relevance of the thematic role of prepositions and aspectual typology will be considered. The fifth chapter analyzes the phenomena of omission and insertion of the aspectual marker a. Two hypotheses are considered to explain this alternation. The first one concerns the idea that prepositions with less semantic content pose a greater learnability problem; the second hypothesis evaluates the complementizer status of prepositions. The final chapter describes the findings of this research project and proposes directions for future research

Construções ditransitivas no português de São Tomé

Nesta dissertação analisam-se as construções ditransitivas no português de São Tomé (PST), uma variedade pós-colonial em avançado processo de nativização, cujas propriedades resultam de uma aquisição histórica como L2. Começaremos por discutir dados das línguas românicas, propondo que o português europeu exibe duas construções ditransitivas preposicionadas (CDPs). Enquanto verbos como dar (core dative verbs) subcategorizam Recipientes [±ANIM], introduzidos pela preposição funcional a, verbos como atirar/enviar (non-core dative verbs) subcategorizam Alvos [+ANIM], interpretados como Recipientes, introduzidos pela preposição funcional a, e Alvos [-ANIM] introduzidos pela homófona preposição direcional a. Por sua vez, as variedades não europeias do português exibem igualmente construções de duplo objeto (CDOs) e/ou CDPs introduzidas por uma preposição funcional/direcional ou locativa, como a/para e em. Além disso, adotaremos um modelo de concha larsoniana para a estrutura das construções ditransitivas nas línguas/variedades em análise. Na segunda parte da dissertação, analisaremos as estratégias exibidas pelo PST para a realização do argumento dativo: (i) a CDO; (ii) a CDP introduzida pela preposição funcional a (CDP1); (iii) a CDP introduzida pela preposição direcional para (CDP2) e mostraremos que a sua ocorrência está dependente do tipo de verbo. A CDO e a CDP1 ocorrem apenas com core dative verbs e Recipientes [±ANIM], enquanto a CDP2 ocorre tanto com core como non-core dative verbs e Recipientes/Alvos [±ANIM]. Além disso, mostrar-se-á que informantes mais escolarizados exibem alternância dativa entre CDOs e CDPs (ou apenas CDPs), enquanto informantes menos escolarizados apenas exibem a CDO e a CDP1. Por fim, discutir-se-ão os efeitos do contacto histórico com o forro, o crioulo maioritário em São Tomé e Príncipe, e defender-se-á que a hipótese de Full Transfer/Full Access (Schwartz & Sprouse 1994, 1996) permite dar conta da ocorrência de CDOs no PST, refletindo o contacto com o forro, e da ocorrência de CDPs, refletindo o acesso à Gramática Universal.This dissertation focuses on ditransitive constructions in the Portuguese of São Tomé (PST), a post-colonial variety in the final stages of nativization. We will start by discussing data from Romance languages, in particular European Portuguese (EP), the target-variety. EP exhibits two ditransitive prepositional constructions (DPCs). While verbs such as dar ‘give’ (core dative verbs) subcategorize Recipients [±ANIM], verbs such as throw/send (non-core dative verbs) subcategorize both [+ANIM] Recipients and [-ANIM] Goals. In addition, there are two homophonous prepositions a ‘to’: Recipients are introduced by a functional preposition while Goals are introduced by a directional preposition. On the other hand, non-European varieties of Portuguese exhibit a range of alternative strategies, namely double object constructions (DOC) and/or DPCs introduced by directional and locative prepositions, such as para ‘to/toward’ and em ‘in’. Furthermore, we will propose an adapted version of the Larsonian VP-shell to derive ditransitive constructions in the languages and varieties under discussion. In the second part, we will analyze the dative strategies employed by the PST: (i) DOC; (ii) DPC introduced by the functional preposition a (DPC1); and (iii) DPC introduced by the directional preposition para (DPC2). Linguistic and extra-linguistic variables will be considered. The data show that DOC and DPC1 occur with core dative verbs and Recipients [±ANIM], while DPC2 occurs with both core and non-core dative verbs as well as with Recipients and Goals [±ANIM]. Moreover, informants with a higher level of education exhibit dative alternation between DOC, DPC1 and DPC2 (or only DPCs), whereas lower-educated informants only exhibit DOC and DPC1. Finally, we will discuss the role of contact between PST and Forro, the dominant creole in São Tomé and Príncipe, and propose that an L2 hypothesis which accepts both transfer from L1 and access to Universal Grammar can explain the (co)occurrence of DOC and DPCs in PST

Grabbing attention while reading website pages: the influence of verbal emotional cues in advertising

The increasing use of the World Wide Web has promised a huge advertising platform for marketers. Investment in online advertising is growing and is expected to overcome traditional media. However, recent studies have reported that users avoid looking at advertising displayed on the World Wide Web. This study aimed at examining the impact of verbal emotional cues (negative/neutral/positive) to capture attention on website’s advertising areas through an eye tracker system. The results revealed significant statistical differences between fixations to negative, positive words and neutral words. Significant differences between the number of fixations and recognition of the target words were found only for the negative valence words. We conclude that negative emotional words could play a major role on user attention to advertising

Grabbing attention while reading website pages: the influence of verbal emotional cues in advertising

The increasing use of the World Wide Web has promised a huge advertising platform for marketers. Investment in online advertising is growing and is expected to overcome traditional media. However, recent studies have reported that users avoid looking at advertising displayed on the World Wide Web. This study aimed at examining the impact of verbal emotional cues (negative/neutral/positive) to capture attention on website’s advertising areas through an eye tracker system. The results revealed significant statistical differences between fixations to negative, positive words and neutral words. Significant differences between the number of fixations and recognition of the target words were found only for the negative valence words. We conclude that negative emotional words could play a major role on user attention to advertising

Grabbing attention while reading website pages: the influence of verbal emotional cues in advertising

ABSTRACT The increasing use of the World Wide Web has promised a huge advertising platform for marketers. Investment in online advertising is growing and is expected to overcome traditional media. However, recent studies have reported that users avoid looking at advertising displayed on the World Wide Web. This study aimed at examining the impact of verbal emotional cues (negative/neutral/positive) to capture attention on website's advertising areas through an eye tracker system. The results revealed significant statistical differences between fixations to negative, positive words and neutral words. Significant differences between the number of fixations and recognition of the target words were found only for the negative valence words. We conclude that negative emotional words could play a major role on user attention to advertising

Deliverable D4.4-5: Precision and behaviour of fish-based ecological quality metrics in relation to natural and anthropogenic pressure gradients in European estuaries and lagoons

This report summarises the work conducted in Work Package 4.4 – BQE fish in transitional (i.e. estuarine and lagoon) waters (TW) within the project WISER under the sponsorship of the European Commission. It omits most technical details of the analyses given in the four previous Work Package reports, but still provides the necessary information to understand the rationale, approach and underlying assumptions necessary to discuss the results. The focus is therefore to discuss and integrate the results obtained within Work Package 4.4 and with this, make recommendations to improve fish-based ecological assessments in TW, principally estuaries and lagoons. In addition, and to assist with the WFD implementation which is the overarching theme of WISER, the deliverable includes, where appropriate, case studies where we have used multi-metric fish indices currently under development, or already in use for WFD compliance monitoring across Europe. Furthermore, results of the work package have been shared with relevant Geographical Intercalibration Groups (GIGs) supporting the harmonization and equalization process across transitional fish indices in Europe. Development strategies for fish indices in TW vary but generally include: (1) the calibration of metrics to anthropogenic pressures, (2) the development of reference conditions, (3) the calculation of ecological quality ratios, and (4) the designation of thresholds for Ecological Status (ES) class. New fish indices are developed for a defined geographical area, using specific sampling method and under locally relevant pressure fields. The former two factors, area and sampling methods, define the relevant reference condition in the calculation of Ecological Quality Ratios (EQR) and the latter factor, human pressures, define the índex structure and especially the fish metric selection. To assess index relevance across areas, we calculated a suite of transitional fish indices on a standardized WISER dataset and then compared the agreement of the outcomes (using correlation analysis). The application of current indices to areas (or countries) different from the area in which it was originally developed leads to inconclusive or spurious results. The failure to accommodate the diferente indices to a standardized dataset in this work clearly demonstrates the fundamental reliance of current fish indices on the sampling methods and design of monitoring programmes used in the development of the index. Despite this, for some indices, correlations although weaker are statistically significant, also indicating the possible agreement in successful intercalibration between these indices. Harmonization of BQE fish methodologies across Europe (common metrics) is unlikely by adapting or creating new fish indices but inter-comparison assessments are possible and valid using a common pressure index to harmonise diferente indices on a common scale. We found a negative response of fish quality features to pressure gradients which make BQE fish in TW suitable for greater ecological integration than other BQEs. However, successful assessment of Ecological Status (ES) require a matching combination of fish index, reference values and local dataset gathered with compatible sampling methods. Whole indices provide more consistent overall ES assessments but fish metrics considered individually may be more useful as a means to focus restoration measures. Future work is needed to identify those specific pressures affecting fish assemblages providing targets for minimising the effects of stress in mitigation and restoration plans. In order to achieve this, and although the interpretation of outcomes is still difficult, more recent transitional fish indices are leading in the use of comprehensive appraisal and validation exercises to test the responsiveness of BQEs for the assessment of ES. Here we proposed for the first time a simple sensitivity exercise under realistic scenarios of metric change to explore the expected inertia (i.e. the tendency to buffer ES change after quality alterations), dynamic range (i.e. the ratio between the largest and smallest possible ES values) and most relevant metric components (i.e. the those driving the most likely scenarios leading to ES change) from a multi-metric fish índex under relevant human pressure gradients. Overall, the behaviour of multi-metric índices under manipulations of metric scores clearly indicated that metric type, number of metrics used and correlations between metrics are important in determining the index performance, with indices including more and/or uncorrelated metrics or metrics with skewed distribution being less affected by extreme metric manipulations. Results of this analysis may be used to set realistic management targets and also to identify the aspects of the indices that are more likely to affect the outcomes leading to more robust and responsive indices. Further improvements of fish indices may be attained by reducing the variability confounding biological quality metrics. This variability is undesirable noise in assessments and can be technical (i.e. linked to the method of assessment including sampling effort) or natural (physicochemical and biological). The implication for assessments is that different facts might then confound the metric-pressure correlation (the ‘signal’ in the signal-to-noise ratio in the assessments) increasing uncertainty in ES assignment. Models showed that salinity class, depth, season, time of fishing (day vs. night) and year of fishing may influence the values of the fish metrics. The modelling exercise also demonstrated that unexplained variance remains generally much higher within-systems than between-systems suggesting a higher importance of sources of variability acting at the WB level. Modelling and improved standardization in monitoring campaigns should reduce uncertainty in ES assignment. One important factor that was assessed further was the effect of sampling effort. The results suggest that richness-based metrics require larger sampling efforts although a similar effortrelated bias may be an issue for density-based metrics if fish distribution is very patchy (i.e. schooling fish or those aggregated in specific habitats) and insufficient replicates are taken to fully characterise the patchiness in their distribution. It is apparent that to overcome a potential large source of error, the Reference Conditions must be defined according to the level of effort used in the monitoring programme or, conversely, the monitoring must be carried out at the same level of effort used to derive the Reference Condition. The WP finally explored the use of a predictive linear modelling approach to define reference conditions for fish metrics in transitional waters. The fish response data was modelled together with Corine Land Cover (CLC)-derived pressure proxies (% agricultural, urban and natural land coverage). Based on the obtained models, the expected metric score was predicted by setting pressure levels either to the lowest observed pressure in the dataset or to zero in order to define the sample and theoretical reference condition, respectively. Even when significant, the effect of pressures on fish metrics was generally very weak, probably reflecting the use of too-generic pressure indicators (such as land cover data instead of more relevant estuarine proxies such as dredging, port development, waterborne pollutants, etc). The best explanatory models included sampling factors and natural characteristics considered important discriminant features in the definition of water body types. In particular, the present work argues for considering not only estuaries and lagoons as different typologies but also other natural and design characteristic such as the gear type, the sampling season and the salinity class. Furthermore, a relevant reference needs to account for survey design bias, including rare species contribution to assessment datasets, patchiness, choice of pressure proxies or sampling gear. The modelling approach of fish metrics against the physicochemical variables has proved useful to derive Reference Conditions. This is important for the computation of relevant EQRs in Europe where there is a general lack of pristine areas or historical data on fish BQE and it provides an alternative to best professional judgment. Taking all WP analysis and case studies together, the work conducted has highlighted the following key messages and linked research needs necessary to optimize BQE fish for the quality assessment of transitional waters: Key Message 01: Harmonization of BQE fish methodologies across Europe (common metrics) is unlikely by adapting or creating new fish indices but inter-comparison assessments are possible and valid using a common pressure index to harmonise diferente indices on a common scale. Research needs to be focused on more widely-applicable fish indices will require the formulation of completely new indices based on a more flexible use of fish metrics according to system typologies, relevance and, probably, an increased use of functional traits. For current indices, further research on a method of intercalibration is needed. Key Message 02: BQE Fish in TW respond consistently to human pressure gradients across transitional waters providing the means to assess Ecological Status (ES). Further work will be needed to identify those specific pressures affecting fish assemblages providing targets for minimising the effects of stress in mitigation and restoration plans. Key Message 03 Although the interpretation of outcomes is still difficult, more recente transitional fish indices are leading in the use of comprehensive appraisal and validation exercises to test the performance of BQEs in the assessment of Ecological Status (ES). Further appraisal of fish indices behaviour is needed to understand the meaning of the quality outcomes, to set realistic management targets and also to identify the aspects of the índices that are more likely to affect the outcomes leading to more robust and responsive indices Key Message 04 Uncertainty levels associated with metric variability in multi-metric fish indices can be managed to increase the confidence in Ecological Status (ES) class assignment. Further research is needed to include knowledge of habitat partition within systems, to understand metrics behaviour and precision, to test new combination rules allowing metric weighting by robustness and importantly to evaluate more robust sampling tools and methods. Key Message 05 Reference conditions for BQE fish-based quality assessments can be objectively estimated using predictive modelling. Further refinements will require the use of better pressure proxies, robust metrics amenable to modelling and to account for survey design bias (effort & choice of sampling gear) at the relevant scales used in monitoring programmes.info:eu-repo/semantics/publishedVersio

Effects of climate change on fisheries : from a global to a regional perspective

Tese de doutoramento, Biologia (Biologia Marinha e Aquacultura), Universidade de Lisboa, Faculdade de Ciências, 2016The present thesis focused on the effects of climate change on fisheries, both on a global and on a regional scale. Trends in annual catches of fish species in the large marine ecosystems of the world were analysed, taking into account changes in sea surface temperature (SST). The results obtained in this analysis agreed with a poleward shift in distribution of fish species as a response to ocean warming. The Portuguese coast is located in a biogeographic transition zone, where the effects of climate change are higher, which makes it particularly adequate for studies on the effect of climate change on fisheries. Landings of biogeographic groups of fish species were compared, for each Portuguese fleet component: trawl, purse-seine and multi-gear fisheries. Results pointed out to an easier adaptation of multi-gear fisheries to the effects of climate change. A long time series analysis was performed for Setúbal, an important fishing port in central Portugal. In 86 years, mean annual SST has increased 0.9 ºC in the area. The main target species in 2012 were the same as in 1927. However, their landings have changed and have responded to changes in environmental variables, particularly SST. The influence of river drainage on landings of coastal ports in the vicinity of four estuaries was investigated. No significant correlations between river drainage and landings were found, which could be due to a stronger dependence of the food web on the nutrients provided by coastal upwelling. Also, the possible interaction of several other smaller scale factors acting on recruitment of commercial species may mask the effects of river drainage on landings. Recruitment and landings of European sardine (Sardina pilchardus) and Atlantic horse mackerel (Trachurus trachurus), two highly consumed fish species in Portugal, were modelled. Models obtained emphasized the influence of SST and wind strength in landings of these pelagic species. Finally, trends in landings of the most important fishing métiers, as well as the vulnerability and adaptation capacity of Portuguese fisheries to climate change were analysed. A latitudinal pattern in the number of new species found in landings was observed, agreeing with a northward shift of subtropical species. The south coast showed a higher vulnerability to climate change, in terms of both exposure and sensitivity of target species and ecosystems to its effects. Trawl fisheries and multi-gear fisheries may be more adaptable and less vulnerable to climate change than purse-seine fisheries. In fact, the high sensitivity of sardine to the effects of climate change makes purse-seine fisheries particularly vulnerable to climate change. Overall, results responded to the main objective of this thesis of assessing trends and relationships between climate change and fisheries. Suggestions for future research in this subject are also proposed.Programa operacional Potencial Humano (POPH) do Quadro de Referência Estratégico Nacional (QREN

Fisheries in a warming ocean: trends in fish catches in the large marine ecosystems of the world

Trends in annual catches of fish species in the large marine ecosystems (LMEs) of the world were analysed, relating them with changes in sea surface temperature. LMEs are large coastal areas with broad ecosystem similarities, and the vast majority of them have warmed in the period of 1982–2006. Changes in sea water temperature, induced by climate change, affect the geographic distribution of fish species in marine ecosystems. Shifts in distribution of fish will most likely affect the abundance, distribution and composition of fisheries catches. In the present paper, a decreasing trend in the catches of fish species in warming LMEs was observed. Catches in years of cold and warm winters were compared for each of the eight fish species most caught in the world. Generally, mean catches of polar and temperate species were higher in years of warm winters in the LMEs located in the northern part of the species range and in years of cold winters in LMEs of the southern regions of their ranges. Mean catches of subtropical species were higher in cold years in LMEs of lower latitudes and in warm years in LMEs of higher latitude regions. The results obtained for fish catches agree with a poleward shift of fish species as a response to ocean warming, posing challenges for future fisheries management.info:eu-repo/semantics/publishedVersio

Ligação viga - pilar de alto desempenho sísmico

Tese para obtenção do Grau de Doutor em Engenharia Civil, especialidade EstruturasPROTE