Eficiência e concentração na indústria bancária

O objectivo deste trabalho é a análise da eficiência produtiva e dos efeitos da concentração sobre os custos bancários, tendo por base a indústria bancária portuguesa. O carácter multiproduto da empresa bancária sugere a necessidade de se adoptar formas multiproduto da função custo (tipo Fourier). Introduzimos variáveis de homogeneidade e de estrutura que permitem o recurso a formas funcionais uniproduto (Cobb-Douglas) à banca. A amostra corresponde a 22 bancos que operavam em Portugal entre 1995-2001, base não consolidada e dados em painel. Para o estudo da ineficiência recorreu-se ao modelo estocástico da curva fronteira (SFA), para as duas especificações. Na análise da concentração, introduziram-se variáveis binárias que pretendem captar os efeitos durante quatro anos após a concentração. Tanto no caso da SFA como no da concentração, os resultados encontrados são sensíveis à especificação funcional adoptada. Concluindo, o processo de concentração bancário parece justificar-se pela possibilidade da diminuição da ineficiência-X. This study addresses the productive efficiency and the effects of concentration over the banking costs, stressing its focus on the Portuguese banking market. The multiproduct character of the banking firm suggests the use of functional forms as Fourier. The introduction of variables of structure and of homogeneity allows the association of the banking activity (multiproduct) with a single product function (Cobb-Douglas type). The sample covers 22 banks which operated in Portugal from 1995-2001, non consolidated base with a panel data structure. The study about inefficiency is elaborated through the stochastic frontier model (SFA), for the two specifications selected. As a methodology to analyze the concentration, we introduced binary variables, which intend to catch the effects through four years after the concentration process. The results obtained, through SFA and concentration approach, are influenced by the kind of specifications selected. Summing up, the concentration process of the Banking Industry sounds to be justified by the possibility of the X-inefficiency

Economias de escala e de gama e os efeitos da concentração na eficiência bancária

O objectivo deste estudo é a análise da existência de economias de escala e de gama, da eficiência produtiva, dos efeitos da concentração e do progresso tecnológico sobre os custos bancários, tendo por base o mercado bancário português. A conceptualização da empresa bancária passa pela abordagem adoptada: produção ou intermediação. A adopção desta última corrente, neste trabalho, implica que a variável a explicar inclua os custos financeiros, além dos operacionais. As especificações custo adoptadas são do tipo Cobb-Douglas, Translog e Fourier. O carácter multiproduto da empresa bancária sugere o recurso a funções como a Translog e a Fourier. No entanto, a introdução de variáveis de estrutura e de homogeneidade, permite a associação da actividade bancária (multiproduto) a uma função uniproduto (Cobb-Douglas). Por outro lado, a função Fourier consegue uma maior aderência aos dados do que a função Translog. A amostra corresponde a vinte e dois bancos que operavam em Portugal em 31 de Dezembro, entre 1995 e 2001 — base não consolidada, com uma estrutura de dados em painel. A estimação das economias de escala - dados em painel (efeitos fixos e efeitos aleatórios) - através das três especificações custo estudadas, permite concluir que não existem economias de escala no sector bancário nacional. No entanto, isso é verdade, apenas, no que se refere aos custos financeiros, uma vez que os resultados empíricos sugerem a existência de economias de escala em relação aos custos operacionais. Quanto à possível existência de economias de gama, dos resultados empíricos pode concluir-se que a diminuição dos custos não é associada à diversificação (especificações Translog e Fourier). O estudo da ineficiência é elaborado recorrendo ao modelo estocástico da curva fronteira. Os resultados obtidos apresentam-se sensíveis quanto ao modelo adoptado. Com efeito, a taxa de ineficiência média, para o conjunto dos bancos da amostra, é de cerca de 4% (especificações Translog e Fourier) e de 12% (especificação Cobb-Douglas). Para a análise da concentração, introduzem-se variáveis binárias, que pretendem captar os efeitos no próprio ano, um, dois e três anos após a concentração. Se se adoptar a especificação Cobb-Douglas, obtêm-se importantes efeitos na redução de custos decorrentes da concentração. Se se adoptar as formas funcionais multiproduto Translog e Fourier, os efeitos da concentração são desprezíveis. Estes resultados contraditórios explicam-se, parcialmente, pela natureza da amostra: o número de observações é muito reduzido (nos períodos de dois e três após a concentração). Os efeitos do progresso tecnológico sobre a eficiência analisam-se através da introdução, nos modelos, de uma variável compósita (que inclui as ligações à Net e o número de caixas Multibanco), como alternativa à variável tempo. Conclui-se que, no caso desta amostra de 1995 a 2001, o progresso tecnológico não reduz os custos totais. No entanto, se se relevar, apenas, os efeitos directos, o progresso tecnológico diminui os custos totais. Em síntese, o processo de concentração, ainda inacabado, do sector bancário português, parece justificar-se pela existência de economias à escala, ao nível dos custos operacionais, pela possibilidade de diminuição da ineficiência-X e pela incorporação do progresso tecnológico.This study addresses the importance of the existence of economies of scale and of economies of scope, the productive efficiency, the effects of concentration and technological progress over the banking costs, stressing its focus on the Portuguese banking market. The conceptualization of the banking firm is determined by two alternative strands: production or intermediation. The adoption of the last perspective at this work implies that the dependent variable adds to the operational costs the financial ones. The cost-specifications encompass the Cobb-Douglas, Translog and Fourier functional forms. The multiproduct character of the banking firm suggests the use of functional forms as Translog and Fourier. Notwithstanding, the introduction of variables of structure and of homogeneity allows the association of the banking activity (multiproduct) with a single product function (Cobb-Douglas type). Otherwise, the Fourier function permits a better fitting to the data than the Translog function. The sample covers twenty two banks which operated at Portugal on the 31st of December from 1995 to 2001 — non consolidated base with a panel data structure. The estimation of the economies of scale — panel data (fixed effects and random effects) – through the three cost-specifications advanced, permits to infer that there are not significantly economies of scale on the National Banking Industry. However, that is true only for the financial costs issued on the fact that the empirical outputs/outcomes/results suggest the existence of significant economies of scale regarding the operational costs. The conclusions on the pattern of the economies of scope, based on the empirical results, are that the costs’ diminishing is not correlated/associated with strategies of diversification (Translog and Fourier specifications). The study about inefficiency is elaborated through the stochastic frontier model. The results obtained are strongly influenced by the kind of specifications selected. In fact, the average rate of inefficiency for all the banks into the sample is about 4% (Translog and Fourier specifications) and about 12% (Cobb-Douglas specification). As a methodology to analyze the concentration I introduced binary variables, which intend to catch the effects on the actual year and lag effects of one, two and three years after the process of concentration. Adopting the Cobb-Douglas specification I obtained significant effects on the costs shrinkage/reduction as a result of the concentration process. Considering multiproduct functional forms type Translog and type Fourier I concluded that the concentration effects were irrelevant. The opposite conclusions derived for the alternative frameworks used are, partially, a consequence of the nature of the sample: the number of observations is very short (in particular those which cover the periods of two and three years after the concentration). The effects of the technological growth over the efficiency are worked out by the introduction of a composite variable (which includes the Net links and the number of multibank ATMs) as an alternative to the trend. I conclude that, concerning this sample, the technological improvement does not reduce the total costs. However, if I select only the direct effects, the technological progress decreases the total costs. Summing up, the yet unfinished concentration process of the Banking Portuguese Industry seems/sounds to be justified by the existence of economies of scale at the level of the operational costs, by the possibility of shrinkage of the X-inefficiency and by the incorporation of a technological drift

The impact of safety politics in the current globalization context

The globalization is a process of economical, social, cultural and political integration motivated by the needs generated by a consumption-orientated society and a set of factors that have led to its development, such as reducing transport costs, the technological advancement and the development of communication networks. However, the phenomenon of globalization has been accompanied by increasing levels of insecurity as a result of various types of threats and transnational crimes that the International Community seeks to control and minimize. Throughout this work, we examined how the globalization process has been developing and how nations are able to maintain security levels consistent with their economical status and social development, without disturbing the normal course of organizations’ economical activity and the well-being of people. From the investigation developed we concluded that, besides the confirmation that economic integration and the opening of markets have influence on internal consumption, market globalization and migrations have been causing modifications in the consumption habits. We also concluded that the security measures implemented by States or by the International Community affect international trade, but do not imply disproportionate costs or significant delays in transactions. Likewise, we concluded that the control measures implemented in international trade are sufficient to ensure the safety of the people and nations, enabling us to confirm two of the three conjectures raised in this study

Eficiência e concentração na indústria bancária

O objectivo deste trabalho é a análise da eficiência produtiva e dos efeitos da concentração sobre os custos bancários, tendo por base a indústria bancária portuguesa. O carácter multiproduto da empresa bancária sugere a necessidade de se adoptar formas multiproduto da função custo (tipo Fourier). Introduzimos variáveis de homogeneidade e de estrutura que permitem o recurso a formas funcionais uniproduto (Cobb-Douglas) à banca. A amostra corresponde a 22 bancos que operavam em Portugal entre 1995-2001, base não consolidada e dados em painel. Para o estudo da ineficiência recorreu-se ao modelo estocástico da curva fronteira (SFA), para as duas especificações. Na análise da concentração, introduziram-se variáveis binárias que pretendem captar os efeitos durante quatro anos após a concentração. Tanto no caso da SFA como no da concentração, os resultados encontrados são sensíveis à especificação funcional adoptada. Concluindo, o processo de concentração bancário parece justificar-se pela possibilidade da diminuição da ineficiência-X.This study addresses the productive efficiency and the effects of concentration over the banking costs, stressing its focus on the Portuguese banking market. The multiproduct character of the banking firm suggests the use of functional forms as Fourier. The introduction of variables of structure and of homogeneity allows the association of the banking activity (multiproduct) with a single product function (Cobb-Douglas type). The sample covers 22 banks which operated in Portugal from 1995-2001, non consolidated base with a panel data structure. The study about inefficiency is elaborated through the stochastic frontier model (SFA), for the two specifications selected. As a methodology to analyze the concentration, we introduced binary variables, which intend to catch the effects through four years after the concentration process. The results obtained, through SFA and concentration approach, are influenced by the kind of specifications selected. Summing up, the concentration process of the Banking Industry sounds to be justified by the possibility of the X-inefficienc

A análise da eficiência no sector bancário : modelo de fronteira estocástica com dados em painel para a banca portuguesa

O objetivo deste estudo é a análise da eficiência produtiva sobre os custos bancários, tendo por base a banca portuguesa. Nesta investigação adotou-se a abordagem de intermediação na conceItualização da empresa bancária. Incluem-se na análise da eficiência os custos financeiros além dos operacionais. A especificação custo adotada é a forma funcional Fourier devido ao caráter multiproduto da empresa bancária. A amostra corresponde à quase totalidade dos bancos portugueses com dados não consolidados em painel. O estudo da ineficiência é elaborado recorrendo ao modelo estocástico da curva fronteira. A taxa de ineficiência média estimada é de cerca de 4%. Em síntese, o processo de concentração, ainda inacabado, do sector bancário português, parece justificar- se pela possibilidade de diminuição da ineficiência-X

Enterprises' internationalisation strategy: skills in exportation and customs law

Economical development has always been connected to the commercial exchanges between people, due to the necessity to suppress their needs. With the increasing growth of international business and more competitive and demanding markets, exportation has become an important first step to internationalisation. Unlike what happened in the past, companies must be aware that the enrolment in the current global market is risky and requires elaborated technical procedures. Internationalisation should not be treated as an isolated event of business management. The first part of this paper aims to understand the export process and fit it in the current stage of international trade, keeping in mind the framework of export under the customs law. Then, we tried to understand how Portuguese companies should face this process in their internationalisation strategy, and what skills organisations must acquire to be able to export competitively in the current scenario of globalisation. The investigation was based on interviews in companies that, through a process of internationalisation by exportation, have implemented themselves strongly in extern markets. This investigation allowed us to analyse the companies’ motivations to become international, as well as the selection criteria for the export destinations. It was also possible to identify the main obstacles to the internationalisation of Portuguese companies. We concluded that companies that choose exportation as a way to become international acquire specific skills that enable them to become competitive in international trade. However, studies have failed to answer the second initial question about whether the measures implemented by Customs potentiate exports

ALTERAÇÕES GASTROINTESTINAIS E ESTADO NUTRICIONAL DE PACIENTES ONCOLÓGICOS EM TRATAMENTO QUIMIOTERÁPICO

Introdução: A quimioterapia é utilizada para controlar, reduzir ou eliminar tumores cancerígenos. Porém, os fármacos utilizadosdurante este tratamento podem causar alterações gastrointestinais que podem comprometer o estado nutricional dosindivíduos. Objetivo: Analisar a correlação das alterações gastrointestinais com o estado nutricional de pacientes oncológicosem tratamento quimioterápico. Método: O estudo foi do tipo transversal analítico, com coleta de dados secundária de prontuáriosde pacientes internados em um Hospital de Oncologia. A amostragem foi do tipo não probabilística. As variáveis analisadasforam: sexo, faixa etária, estado civil, procedência, localização tumoral e grau das alterações gastrointestinais. Estes dadosforam analisados a partir das fichas de Avaliação Subjetiva Global Produzida Pelo Paciente. Resultados: Dos 86 prontuáriosanalisados, a maioria dos pacientes encontrava-se desnutrida (51,2%) e destes 66,0% eram do sexo feminino, 59,0% adultos,54,6% sem companheiro e 52,3% procedentes de São Luís e/ou Região metropolitana. O sítio tumoral mais prevalente foi odigestivo (31,4%) e as alterações gastrointestinais predominantes foram diarreia e dor (40,7%), principalmente nos pacientesdesnutridos (66,0%). Conclusão: Houve correlação moderada e positiva entre as alterações gastrointestinais e o estado nutricionaldos pacientes. Sugerindo que quanto maior for a gravidade destas alterações, maiores serão os prejuízos no estado nutricionaldos mesmos.Palavras-chave: Câncer. Tratamento Farmacológico. Sinais e Sintomas Digestórios. Estado Nutricional

MAMMALS IN PORTUGAL : A data set of terrestrial, volant, and marine mammal occurrences in P ortugal

Mammals are threatened worldwide, with 26% of all species being includedin the IUCN threatened categories. This overall pattern is primarily associatedwith habitat loss or degradation, and human persecution for terrestrial mam-mals, and pollution, open net fishing, climate change, and prey depletion formarine mammals. Mammals play a key role in maintaining ecosystems func-tionality and resilience, and therefore information on their distribution is cru-cial to delineate and support conservation actions. MAMMALS INPORTUGAL is a publicly available data set compiling unpublishedgeoreferenced occurrence records of 92 terrestrial, volant, and marine mam-mals in mainland Portugal and archipelagos of the Azores and Madeira thatincludes 105,026 data entries between 1873 and 2021 (72% of the data occur-ring in 2000 and 2021). The methods used to collect the data were: live obser-vations/captures (43%), sign surveys (35%), camera trapping (16%),bioacoustics surveys (4%) and radiotracking, and inquiries that represent lessthan 1% of the records. The data set includes 13 types of records: (1) burrowsjsoil moundsjtunnel, (2) capture, (3) colony, (4) dead animaljhairjskullsjjaws, (5) genetic confirmation, (6) inquiries, (7) observation of live animal (8),observation in shelters, (9) photo trappingjvideo, (10) predators dietjpelletsjpine cones/nuts, (11) scatjtrackjditch, (12) telemetry and (13) vocalizationjecholocation. The spatial uncertainty of most records ranges between 0 and100 m (76%). Rodentia (n=31,573) has the highest number of records followedby Chiroptera (n=18,857), Carnivora (n=18,594), Lagomorpha (n=17,496),Cetartiodactyla (n=11,568) and Eulipotyphla (n=7008). The data setincludes records of species classified by the IUCN as threatened(e.g.,Oryctolagus cuniculus[n=12,159],Monachus monachus[n=1,512],andLynx pardinus[n=197]). We believe that this data set may stimulate thepublication of other European countries data sets that would certainly contrib-ute to ecology and conservation-related research, and therefore assisting onthe development of more accurate and tailored conservation managementstrategies for each species. There are no copyright restrictions; please cite thisdata paper when the data are used in publications.info:eu-repo/semantics/publishedVersio

Post-intervention Status in Patients With Refractory Myasthenia Gravis Treated With Eculizumab During REGAIN and Its Open-Label Extension

OBJECTIVE: To evaluate whether eculizumab helps patients with anti-acetylcholine receptor-positive (AChR+) refractory generalized myasthenia gravis (gMG) achieve the Myasthenia Gravis Foundation of America (MGFA) post-intervention status of minimal manifestations (MM), we assessed patients' status throughout REGAIN (Safety and Efficacy of Eculizumab in AChR+ Refractory Generalized Myasthenia Gravis) and its open-label extension. METHODS: Patients who completed the REGAIN randomized controlled trial and continued into the open-label extension were included in this tertiary endpoint analysis. Patients were assessed for the MGFA post-intervention status of improved, unchanged, worse, MM, and pharmacologic remission at defined time points during REGAIN and through week 130 of the open-label study. RESULTS: A total of 117 patients completed REGAIN and continued into the open-label study (eculizumab/eculizumab: 56; placebo/eculizumab: 61). At week 26 of REGAIN, more eculizumab-treated patients than placebo-treated patients achieved a status of improved (60.7% vs 41.7%) or MM (25.0% vs 13.3%; common OR: 2.3; 95% CI: 1.1-4.5). After 130 weeks of eculizumab treatment, 88.0% of patients achieved improved status and 57.3% of patients achieved MM status. The safety profile of eculizumab was consistent with its known profile and no new safety signals were detected. CONCLUSION: Eculizumab led to rapid and sustained achievement of MM in patients with AChR+ refractory gMG. These findings support the use of eculizumab in this previously difficult-to-treat patient population. CLINICALTRIALSGOV IDENTIFIER: REGAIN, NCT01997229; REGAIN open-label extension, NCT02301624. CLASSIFICATION OF EVIDENCE: This study provides Class II evidence that, after 26 weeks of eculizumab treatment, 25.0% of adults with AChR+ refractory gMG achieved MM, compared with 13.3% who received placebo

Minimal Symptom Expression' in Patients With Acetylcholine Receptor Antibody-Positive Refractory Generalized Myasthenia Gravis Treated With Eculizumab

The efficacy and tolerability of eculizumab were assessed in REGAIN, a 26-week, phase 3, randomized, double-blind, placebo-controlled study in anti-acetylcholine receptor antibody-positive (AChR+) refractory generalized myasthenia gravis (gMG), and its open-label extension