Market Impact of International Sporting and Cultural Events

This paper investigates the impact of international sporting and cultural events on national stock markets. We study market reaction to the announcements of the selected country hosting mega-events such as the Olympic Games, the World and the European Football Cups and World Exhibitions. First, we evaluate the abnormal returns of winning bidders at (and around) the announcement date at market and industry-levels. Second, we analyze the determinants of the variation in abnormal returns across events and industries and control for the prior probability of observing the event. Third, on the basis of a simple model of partial anticipation, we reexamine the abnormal returns observed for the winning and losing countries. Our initial results suggest that the abnormal returns are not consistently different from zero. Further, when we look at particular industries, we find no evidence supporting that industries, that a priori were more likely to extract direct benefits from the event, observe positive significant effects. Yet when we control for the prior expectations, the announcement of these megaevents is associated with a positive stock market reaction in the nominated country and a negative reaction in the losing country. Overall we interpret our findings as supportive of rational asset pricing and partial anticipation.Market efficiency; Event studies; Mega-events

Market Impact of International Sporting and Cultural Events

This paper investigates the impact of international sporting and cultural events on national stock markets. We study market reaction to the announcements of the selected country hosting the Summer and Winter Olympic Games, the World Football Cup, the European Football Cup and World and Specialized Exhibitions. We also measure the market effects of the announcement of the nomination of the European Cultural City. First, we evaluate the abnormal returns of winning bidders at (and around) the announcement date using an event study methodology. We study the impact at market and industry-levels. Second, we analyze the determinants of the variation in abnormal returns across events and industries on the basis of a set of variables found important by previous studies and control for the prior probability of observing the event. Third, on the basis of a simple model of partial anticipation, we reexamine the abnormal returns observed for the winning and losing countries and perform a series of tests to disentangle the different theoretical arguments that could account for the observed stock market behavior. Our initial results suggest that the abnormal returns measured at the announcement date and around the event are not consistently different from zero. Further, when we look at particular industries, we find no evidence supporting that industries, that a priori were more likely to extract direct benefits from the event, observe positive significant effects. Yet when we control for the prior expectations, the announcement of these mega-events is associated with a positive market reaction in the nominated country and a negative reaction in the losing country. Overall we interpret our findings as supportive of rational asset pricing and partial anticipation.Market efficiency; Event studies; Mega-events

Constitutive modelling of short-term tensile response of geotextile subjected to mechanical and abrasion damages

This paper discusses simple constitutive models to represent the tensile response of a geotextile (GTX) and the influence of two endurance durability factors on that response: mechanical and abrasion damage, acting independently and sequentially. The damage was induced in laboratory under standard conditions. Two types of models were used: polynomial and hyperbolic. The polynomial models (order 4 and 6) approximated the short-term tensile experimental data very well (and better than the hyperbolic model), but its model parameters have no physical meaning. The hyperbolic model parameters did not always have the physical meaning reported in the literature. Correction factors were introduced successfully, to achieve that physical meaning. These correction factors were not materials constants and were affected by the damage induced, and by the type of aggregate used in the mechanical damage tests. Equations to estimate the model parameters of the damaged samples were proposed using the model parameters for the undamaged sample and its properties (tensile strength and corresponding correction factor), and the reduction factors allowing for damage for the initial stiffness (Ji) and tensile strength (Tmax).This work was supported by the Foundation for Science and Technology (FCT)—Aveiro Research Centre for Risks and Sustainability in Construction (RISCO), Universidade de Aveiro, Portugal [FCT/UIDB/ECI/04450/2020]. This work was financially supported by: Base Funding—UIDB/04708/2020 of the CONSTRUCT—Instituto de I&D em Estruturas e Construções—funded by national funds through the FCT/MCTES (PIDDAC).info:eu-repo/semantics/publishedVersio

Avaliação e capacidade resistente do solo de fundação

Requerido pela Câmara Municipal de Vila Flor, procedeu-se à realização de três ensaios com Penetrómetro Dinâmico Superpesado DPSH (Dynamic Penetration Super-Heavy), ensaios de caracterização da compactação “in-situ” e poços de prospeção geotécnica para identificação e caracterização geotécnica no local de implantação da futura reconstrução de “Requalificação Geral/ Ampliação da Escola Primária N.o1 de Vila Flor, para Reinstalação do Juízo de Competência Genérica”info:eu-repo/semantics/publishedVersio

Estudio comparativo de modelos de cálculo para el diseño de muros pantalla

Cuando se desea ejecutar un muro pantalla existen numerosas cuestiones a tener en cuenta. No se trata de una estructura común que pueda calcularse fácilmente y esperar un comportamiento similar a lo largo de su construcción y puesta en funcionamiento. Un muro pantalla es una compleja y elaborada sucesión de cálculos y fases que se redefinen y adaptan a medida que se ejecuta la estructura. En este artículo se va a estudiar cuál es la manera más adecuada y segura de poder elaborar un muro pantalla de forma que se pueda garantizar su puesta en funcionamiento, previendo los esfuerzos va a tener que soportar en cada momento de forma que su comportamiento sea el esperado. Para poder estudiar el comportamiento de un muro pantalla y la manera de abordar su diseño y posterior ejecución, en este artículo se ha querido evaluar un caso teórico con datos y características perfectamente posibles de manifestarse en un caso práctico.info:eu-repo/semantics/publishedVersio

Computational modeling and parametric study of pile groups

Geotechnics and the study of the behavior of soil with the construction inserted in it is of extrema importance. This study aims at the computational analysis of a group of three rein- forced concrete piles with axial and horizontal loads. The piles were inserted in non-cohesive soil (medium and dense sand). The geometric parameters of the piles (diameter, distance be- tween them, and length) and physical parameters of the soil (stratification and angle of fric- tion between them) were varied. The GEO5 "Pile Group" program, the NAVFAC DM 7.2 method was used to determine the bearing capacity. The Poulos & Davis (1980) and FEM methods for settlement, and the p-y method (FEM) to determine the internal forces distribu- tion. The efficiency of the piles is more sensitive the more the distance between them varies. For settlement, Poulos & Davis values are sensitive to distance and diameter, and in FEM they are more sensitive to diameter and length variation.info:eu-repo/semantics/publishedVersio

Computational modeling of joint lines in punched metal plate fasteners

Punched metal plate fasteners (nail plates) are currently the top choice in the wooden-truss industry because of its high mechanical capacity and easy automated assembly. Here, a computational modelling is proposed to evaluate the force distribution within the plate’s anchorage area and in the rupture lines, a structural system that in most cases is highly hyperestatic and does not feature an analytical solution. This method can be applied to areas with multiple gaps (rupture lines) and therefore its analysis is discussed from a quantitative and qualitive point of view.info:eu-repo/semantics/publishedVersio

Simplified methods to obtain efforts in the joint lines of metal connectors of wood truss

This paper presents three simplified methods to obtain the distributions efforts in the joint lines in a wood truss node connected by metal plates fasteners, as function on the efforts transferred by each wooden element to the connection node. Although this verification is simple to solve in cases of simple joint geometries and/or symmetrical loading in relation to the node. The problem becomes complex in cases where the connection is composed of more than one joint line, without axis of symmetry and/or cases in which the loads are not symmetrical in relation to the node. This work aims to verify and compare three methods to obtain the distribution efforts in the joint lines. Method 1 is based on the static balance between the efforts in anchors and their distribution over the adjacent joint lines. Method 2 (fictitious line) was presented to obtain the distributions efforts in the rupture lines from the distribution of efforts into composite lines (ensuring the balance of efforts on the fictitious line and the transmission of these efforts to the various rupture lines). Method 3 (obtaining the distribution by numerical models, in this case the MEF) allows to obtain the distribution along the line(s) for any configuration and composition of this(s), in addition it also allows to introduce the real stiffness of the plate and consequently a more realistic deformation/stress. The checks are carried out through Eurocode 5 EN 1995-1-1: 2004 [1] and through the CSI (Combined Stress Index), which represents the structural efficiency, in order to conclude the veracity of the method.info:eu-repo/semantics/publishedVersio

Simplified methods to obtain efforts in the joint lines of metal connectors of wood truss

This paper presents a simplified method to obtain the distributions efforts in the joint lines in a wood truss node connected by metal plates fasteners, as function on the efforts transferred by each wooden element to the connection node. Although this verification is simple to solve in cases of simple joint geometries and/or symmetrical loading in relation to the node. The problem becomes complex in cases where the connection is composed of more than one joint line, without axis of symmetry and/or cases in which the loads are not symmetrical in relation to the node. This work aims to verify and compare three method to obtain the distribution efforts in the joint lines. Method 1 is based on the static balance between the efforts in anchors and their distribution over the adjacent joint lines. Method 2 (fictitious line) was presented to obtain the distributions efforts in the rupture lines from the distribution of efforts into composite lines (ensuring the balance of efforts on the fictitious line and the transmission of these efforts to the various rupture lines). Method 3 (obtaining the distribution by numerical models, in this case the MEF) allows to obtain the distribution along the line(s) for any configuration and composition of this(s), in addition it also allows to introduce the real stiffness of the plate and consequently a more realistic deformation/stress. The checks are carried out through Eurocode 5 EN 1995-1-1: 2004 [1] and through the CSI (Combined Stress Index), which represents the structural efficiency, in order to conclude the veracity of the method.info:eu-repo/semantics/publishedVersio