The role of pension reserve funds in pay-as-you-go pension schemes financial sustainability

Mestrado em FinançasO presente estudo tem como objetivo analisar a estratégia seguida pelo fundo de estabilização financeira da segurança social (FEFSS), bem como investigar qual seria a situação atual do fundo caso um maior volume de transferências se tivesse verificado ou sido aplicado em investimentos alternativos. Numa primeira fase, o estudo analisa a extensa literatura referente à importância dos fundos de pensões na sustentabilidade financeira dos sistemas pay-as-you-go, assim como a influência da sua gestão no alcance deste objetivo. De forma a proceder à análise da performance específica do caso português, foram consideradas duas políticas alternativas de transferências estáveis para o fundo, utilizando a simulação do valor do fundo na aplicação em três estratégias de investimento distintas. As transferências foram aplicadas às taxas de retorno respetivas a dois períodos de tempo: de 1989 e 2014 e de 1997 a 2014. Os resultados obtidos demonstram que as políticas de investimento propostas aumentaram o valor do portfólio, cumprindo entre 2010 e 2012 o objetivo final definido por lei de cobrir dois anos das necessidades de pensões. Deste modo, aplicando as propostas consideradas verificar-se-ia um aumento da contribuição do fundo na estabilidade do sistema pay-as-you-go.The present study aims to analyze the strategy followed by the Portuguese financial stabilization fund (FEFSS), along with investigating what would the situation be if a greater volume of transfers would have been performed or applied in alternative investments. In the first place, the study investigates the substantial literature related to the importance of pension reserve funds in the financial sustainability of the pay-as-you-go systems, as well as the influence of its management on reaching this goal. In order to proceed to the analysis of the performance of the Portuguese case, two different policies of stable transfers to the fund are contemplated. The simulation of the value of the fund coming from the application of these policies is then used to apply three different strategies of asset allocation. Two different time-frames are taken into account to perform the study: from 1989 to 2014 and from 1997 to 2014. The final results show that the proposed investment strategies increase the value of the portfolio, allowing to fulfill between the years of 2010 and 2012 the goal set by law: covering two years of pension needs. Thus, applying the strategies considered would increase the contribution of the fund to the financial sustainability of the pay-as-you-go system.N/

The impact of naturalness on affective response to logo design: A cross-national study

Literature concerned with logo strategy suggests that the aesthetic appeal of brand logos significantly influences consumer responses. Yet, despite the fact that companies invest significant amounts of time and money promoting, updating and changing their logos, empirical studies of logo design issues are rare. In particular, there is little systematic research on the effect of logo design across different cultures. The main purpose of this research is to address the communalities and asymmetries between consumer responses to logo design across cultures. In particular, we focus on the influences of different types of natural designs on consumers’ affective responses in three different countries, Portugal, Spain and The Netherlands. Findings should provide relevant contributions for multinational companies since logos are critical brand identity sings and they tend to be used in an unaltered form in new markets

Design, personality traits and consumer responses to brand logos

Despite the relevance of logos as communication cues, empirical studies of logo design issues in marketing journals are still scarce (Peterson et al., 2015). This study seeks to address this research gap by examining consumers’ responses to logo design, and specifically to the different types of natural designs, at a behavioral and psychological level. Additionally, we explore whether socio-demographic variables and consumer personality traits are sources of differences in such reactions

DPSIR-Two decades of trying to develop a unifying framework for marine environmental management?

© 2016 Patrício, Elliott, Mazik, Papadopoulou and Smith. Determining and assessing the links between human pressures and state-changes in marine and coastal ecosystems remains a challenge. Although there are several conceptual frameworks for describing these links, the Drivers-Pressures-State change-Impact-Response (DPSIR) framework has been widely adopted. Two possible reasons for this are: either the framework fulfills a major role, resulting from convergent evolution, or the framework is used often merely because it is used often, albeit uncritically. This comprehensive review, with lessons learned after two decades of use, shows that the approach is needed and there has been a convergent evolution in approach for coastal and marine ecosystem management. There are now 25 derivative schemes and a widespread and increasing usage of the DPSIR-type conceptual framework as a means of structuring and analyzing information in management and decision-making across ecosystems. However, there is less use of DPSIR in fully marine ecosystems and even this was mainly restricted to European literature. Around half of the studies are explicitly conceptual, not illustrating a solid case study. Despite its popularity since the early 1990s among the scientific community and the recommendation of several international institutions (e.g., OECD, EU, EPA, EEA) for its application, the framework has notable weaknesses to be addressed. These primarily relate to the long standing variation in interpretation (mainly between natural and social scientists) of the different components (particularly P, S, and I) and to over-simplification of environmental problems such that cause-effect relationships cannot be adequately understood by treating the different DPSIR components as being mutually exclusive. More complex, nested, conceptual models and models with improved clarity are required to assess pressure-state change links in marine and coastal ecosystems. Our analysis shows that, because of its complexity, marine assessment and management constitutes

Communication and choice in yeast mating

Dissertação apresentada para obtenção do grau de doutor em Biologia de Sistemas pelo Instituto de Tecnologia Química e Biológica da Universidade Nova de Lisboa.Cell-cell communication is essential for all organisms and a hallmark of multicellularity. In the budding yeast, Saccharomyces cerevisiae, mating occurs when two haploid cells of opposite mating types (a and α), communicate through secreted pheromones and the corresponding transmembrane receptors, to find each other and fuse. I focused on the mating system of S. cerevisiae and used a quantitative approach to ask how yeast cells communicate with each other. I show that α cells advertise their presence strongly and devote about 1% of their protein synthesis to making just enough α-factor pheromone to initiate this communication. The a cells can only respond accurately to a small range of secreted α-factor and express a protease, Bar1, to maintain the α-factor concentration within their gradient sensing regime. I argue that this is an efficient way to keep mating economic and robust. I then asked how yeast cells choose a partner and I propose that sexual identity, in yeast, is determined at the cell surface, by which receptors and pheromones each cell expresses. I also report that S. cerevisiae’s a cell receptor, Ste2, is surprisingly promiscuous and can respond to high concentrations of pheromones from distant species. I present evidence that the Ste2 receptors across the Ascomycota are not under positive selection, contrasting with most genes involved in speciation, and this can explain the cross-talk between different receptors and pheromones. I solve this paradox by arguing that most fungi cannot distinguish between self and non-self closely related species and that speciation in fungi is not happening at the receptor/pheromone level. I discuss these findings from a molecular and evolutionary perspective

Brand mergers: Examining consumer response to name and logo design

It is critical to investigate reactions to the various name and logo redeployment alternatives available in the context of a brand merger. Yet research on this topic is relatively limited. This paper aims to start filling this gap in the literature, by developing a typology of the visual identity structures that may be assumed in the context of a merger, as well as an exploratory study (n = 467) analysing consumers’ preferences regarding the alternative branding strategies. It uses an innovative design, which gives respondents freedom to choose their preferred solution. Results suggest that there is a clear preference for figurative logos. Furthermore, there is evidence that the logo may play a role as important as the name in a merger, ensuring consumers that there will be a connection with the brand’s past. Data also show that the choice of the logo reflects consumers’ aesthetic responses, whereas the choice of the name reflects consumers’ evaluation of the brand’s offer or off the brand’s presence in the market. These results should guide managers in the evaluation and choice of the post-merger branding strategy.brand identity, logos, brand mergers, consumer preferences

Avaliação de necessidades dos jovens em acolhimento residencial: construção e validação de um instrumento

2956 Childrearing & Child Care 3373 Community & Social ServicesCentrando-se no acolhimento residencial para crianças e jovens em risco, este trabalho tem como objectivo desenvolver um Questionário de Avaliação de Necessidades de Jovens em Acolhimento Residencial (QANJAR), validá-lo e testar a sua capacidade para identificar perfis de necessidades, pelo que se realizaram dois estudos complementares. No primeiro, o QANJAR foi desenvolvido com base na literatura e em instrumentos já existentes internacionalmente, assim como em informação recolhida através de focus groups com jovens (n=21) em acolhimento residencial. Foram também integrados itens com base na Lei Tutelar Educativa e outros sugeridos pelos técnicos da instituição. O QANJAR resultou em 210 itens referentes a factores de risco e de protecção – distribuídos por cinco áreas (Situação Habitacional, Relações Sociais e Familiares, Competências e Comportamentos Sociais e Anti-sociais, Saúde Física e Psicológica, e Educação e Emprego) – e outro referente à gravidade do caso. Para proceder à validação do instrumento, no segundo estudo, o QANJAR foi utilizado para avaliar uma amostra de jovens em acolhimento residencial (n=101). Evidenciaram-se níveis adequados de sensibilidade e de fidelidade, assim como de validade concorrente, que foi analisada através da relação entre a presença de factores de risco e o número de intervenções. Analisou-se ainda a relação entre os factores de risco e protectores, obtendo-se uma correlação positiva entre os primeiros e uma correlação negativa entre os dois tipos de factores. Finalmente, este estudo permitiu identificar dois perfis consistentes de necessidades: um constituído sobretudo por factores de risco e outro por factores de protecção, comprovando-se assim esta potencialidade do instrumento.Focusing on the residential care to children and youth at risk, the present study was designed to develop a Questionnaire for the Assessment of Youth Needs in Residential Care (QANJAR), validate it and test his capacity to identify profiles of needs. To achieve that purpose, we developed two complementary studies. In the first, the questionnaire was developed considering the literature, tools already used in the international level, and information collected trough focus groups with in-care youth (n=21). There were also integrated items based on the Tutelar Educative Law and others suggested by the technicians of the institution. The questionnaire resulted in 210 items referring to risk and protective factors – separated into five life areas (Living situation, Family and social relationships, Competencies and Social and Anti-social behaviour, Physical and psychological health, and Education and employment) – and another item referring to the seriousness of the case. To validate the instrument, in the second study, it was used to assess a sample of in-care youth (n=101). This study evidenced appropriate levels of sensibility, reliability and concurrent validity, proved by the relation between the presence of risk factors and the number of interventions provided to the youth. We also analysed the relation between risk and protective factors, which showed a positive correlation between the first ones and negative between the two kinds of factors. Finally, this study allowed the identification of two consistent profiles of needs: one composed mainly by risk factors and the other by protective factors, proving this potentiality of the instrument

A experiência de ser-no-mundo com um filho com síndrome de asperger

Dissertação de Mestrado apresentada ao ISPA - Instituto UniversitárioA experiência de ser-no-mundo com um filho com SA merece toda a atenção dada a escassez de estudos qualitativos na área. O entendimento de como é ser cuidadora, do impacto que tem o diagnóstico, das estratégias usadas, do suporte sentido e perspetivas de futuro, são aspetos interessantes de estudo. Este estudo foi composto por 4 estudos de casos, onde integraram quatro mães de crianças com SA em período escolar, utilizando o IPA (interpretative phenomenological analysis). Surgiu como estrutura invariante a escassa informação sobre SA, estratégias de enfrentamento do problema causando uma grande fonte de exaustão; valorização do suporte escolar; atitude mais paciente das cuidadoras face aos conjugues; desejo de normalização e preocupações a nível das relações interpessoais. A nível de variâncias nos casos foi notado quer suporte familiar, quer falta dele, contudo, no último caso, marcados sentimentos de tristeza e incompreensão; isolamento social por introjeção das características do filho num dos casos; e reinterpretação positiva do diagnóstico por uma das mães.ABSTRACT: The experience of being-in-the-world with a child with AS deserves all the attention due to the scarcity of qualitative studies in the area. Understanding how to be caring, the impact it has the diagnosis, the strategies used, the support direction and future prospects, are interesting aspects of study. This study consisted of four case studies, which integrated four mothers of children with AS in school time, using the IPA (interpretative phenomenological analysis). It emerged as invariant structure the scant information about AS, strategies of facing the problem causing a great source of exhaustion; enhancement of school support; more patient attitude of caregivers face the spouses; desire for standardization and concerns when it comes to interpersonal relationships. In the variance of the cases was noticed either family support or lack of it, however, in the latter case, marked feelings of sadness and incomprehension; social isolation by introjection of the child's features in one case; and positive reinterpretation of the diagnosis by one of the mothers

Trombocitopenia Imune Crónica: Caso clínico e Revisão da Literatura

As plaquetas são responsáveis pela hemóstase primária através de processos de adesão e agregação plaquetária. Estas células provêm dos megacariócitos e têm um tempo de vida entre 7 a 14 dias, acabando por ser destruídas no baço. (1) A Trombocitopenia Imune (PTI), anteriormente designada por Púrpura Trombocitopénica Idiopática ou Imune, é uma doença autoimune que afeta tanto crianças como adultos. Esta fisiopatologia é caracterizada pela diminuição do valor das plaquetas inferior a 100 x 109/L e, pelo risco aumentado de discrasia hemorrágica.(2) Verifica-se uma produção abundante de autoanticorpos com alvo na membrana das plaquetas.(1) Epidemiologicamente afeta 2 a 5 crianças em 100 000, sendo a principal causa de trombocitopenia sintomática em idade pediátrica.(1,7) A PTI subdivide-se em Primária, caracterizada por trombocitopenia isolada, ou em Secundária, todas as outras causas imunomediadas de trombocitopenia, com exceção da forma primária. A PTI primária pode ser classificada em recém diagnosticada (< 3 meses), persistente (3 – 12 meses) ou crónica (= 12 meses).(2) Na maioria dos casos, aparecem subitamente hemorragias mucocutâneas, com confirmação laboratorial de trombocitopenia isolada (plaquetas < 100 x 109/L) e um esfregaço de sangue periférico normal. O diagnóstico é feito por exclusão de PTI secundária e de outras causas de trombocitopenia.(5) O tratamento é feito consoante as manifestações clínicas, com recurso a fármacos de primeira linha (corticoides, imunoglobulina intravenosa e anti-D). Caso não se verifique resposta a estes fármacos, pondera-se a utilização de intervenções de segunda linha (esplenectomia) ou fármacos de segunda linha (agonistas do recetor da trombopoeitina, rituximab e micofenolado de mofetil). (5) Nas crianças o prognóstico é geralmente muito bom, com uma percentagem alta de remissão da doença, sendo a mortalidade muito rara. (17,35) Aproximadamente 20 a 30% dos casos evoluem para PTI crónica.(10) No presente trabalho procede-se à descrição de um caso clínico de uma criança do sexo masculino com 4 anos, diagnosticado no segundo ano de vida com PTI Persistente, tendo evoluído para uma forma Crónica. Neste momento a criança referida encontra-se sob terapêutica com fármaco de segunda linha, apresenta uma boa resposta e ausência de recidivas. Com base neste caso clínico, realizou-se uma revisão da literatura sobre Trombocitopenia Imune Crónica, procurando identificar e demonstrar a complexidade da sua abordagem e tratamento.Platelets play a main role in primary hemostasis through platelet adhesion and aggregation. These cells are formed by precursor cells called Megakaryocytes and are destroyed in the spleen within 7 to 14 days.(1) Immune thrombocytopenia (ITP), previously known as Idiopathic/ immune thrombocytopenia purpura, is an autoimmune disease that affects both children and adults. It is characterized by low platelet counts (less than 100x109/L) and increased risk of bleeding. (2) In this disorder autoantibodies target the platelets’ membrane antigens. (1) It affects 2 to 5 children in 100 000, being the main cause of symptomatic thrombocytopenia in the Paediatric population.(1,7) ITP can be divided into primary, characterized by isolated thrombocytopenia, and secondary. The latest includes all other immune-mediated thrombocytopenia with an underlying cause. Primary ITP can be categorized into Newly Diagnosed (<3 months), Persistent (3-12 months) and Chronic (= 12 months).(2) Typically presents with sudden onset of mucocutaneous hemorrhages, confirmed by full blood count with isolated thrombocytopenia (platelet count <100 x 109/L) and normal blood film. Primary Immune thrombocytopenia is diagnosed by exclusion of secondary ITP and elimination of all other possible causes of thrombocytopenia.(5) Treatment is based on the clinical manifestations. First line medications include corticosteroids, intravenous immunoglobulins, and anti-D. If patients do not respond to standard treatment, then second line interventions (splenectomy) or agents (thrombopoietin receptor agonist, rituximab, mycophenolate mofetil) are considered.(5) Children tend to have a good prognosis with high chances of remission and low mortality rates.(17,35) Approximately 20 to 30% of the cases develop chronic ITP.(10) During this paper I aim to discuss/ explore the case study of a 4-year-old male initially diagnosed with Persistent ITP in his second year of life, which is now chronic. At present, this patient is receiving a second line agent with good clinical response and no relapses. Based on this clinical case, I have done a literature review on Chronic Immune thrombocytopenia, aiming to identify and understand the complexity of its clinical approach and treatment

Prática de ensino supervisionada em educação pré-escolar e 1º ciclo do ensino básico: a vida na escola e na família. Que conexões?

O presente relatório de estágio desenvolveu-se no âmbito da unidade curricular de Prática de Ensino Supervisionada, tendo por finalidade a obtenção de grau de mestre em Educação Pré-Escolar e Ensino do 1º Ciclo do Ensino Básico. Corresponde à descrição e análise de um trabalho desenvolvido em dois contextos, jardim-de-infância e 1º ciclo, inseridos num meio urbano, com grupos de crianças de três, quatro, cinco e seis anos e de seis e sete anos (respetivamente). Este trabalho procurou compreender de que forma ocorriam as conexões entre a vida na escola e na família em contexto. Começando por compreender como poderiam ser promovidas e ampliadas as relações entre ambos, de forma a envolver os familiares nas aprendizagens das crianças. No entanto criando sempre um espaço de troca de aprendizagens onde as diferenças sejam valorizadas. O enquadramento teórico foi construído de forma focada em três áreas de pesquisa: as conexões entre a escola e a família, e sua relevância; as tipologias de relação escola-família; e os problemas e estratégias de intervenção no âmbito da relação escola-família. Este relatório foi sustentado na metodologia de investigação-ação, utilizando diferentes instrumentos de recolha de dados de modo a responder às questões e objetivos propostos: observações, notas de campo e reflexões; revisão de literatura e questionário. Os resultados que emergiram deste relatório, sustentados nos instrumentos de recolha de dados, realçam a importância das conexões entre a vida na escola e na família. Apesar da existência de alguns obstáculos nesta relação, torna-se necessário encontrar estratégias que os eliminem por forma a compreender ambas as partes e um melhor rendimento escolar das crianças; Supervised Teaching Practice in Preschool and Primary Education : Life at School and in the Family, which connections? Abstract: This is an action-reseach project research developed within the Supervised Teaching Practice, part of the master in Preschool Education and Primary Teaching. It entails the description and analysis of the work developed in one pre-school and one and primary school, inserted in an urban environment, with children from three to six and from six to seven years (respectively). This work sought to understand how occurred the connections between life at school and in the family context. Starting to understand how they could be promoted and expanded relations between the two context, in order to involve family members in the learning of children. However creating always a swap space of learning where the differences are valued. The theoretical framework focused on three subjects: the importance of the connections between the school and the family,; the types of school-family relationship; and problems and intervention strategies within the school-family relationship. This report adopted an action research methodology, using different data collection instruments in order to reach the objectives proposed: observations field notes and reflections; literature review and a questionnaire. The results that emerged from this report, supported by data, highlight the importance of the connections between life at school and in the family. Despite some obstacles in this relationship, it is necessary to find strategies to eliminate them in order to understand both parts and a better school performance of children