The impact of insurance in investment strategies : a real option approach

Mestrado Bolonha em Mathematical FinanceThis study aims to understand what a firm’s investment strategy should be if the firm considers purchasing insurance. We consider an investment model with two sources of uncertainty. The firm’s future revenue is assumed to depend on a random economic indicator, following a Geometric Brownian Motion. On the other hand, unexpected adverse events, that reduce a firm’s future revenue, are introduced out, described by a compound Poisson Process. The objective is to decide on the optimal moment for the firm to invest in the market and the insurance contract that it wants to buy. The decision to buy an insurance contract depends on the insurance premium and how the firm measures its risk. We formulate the model as a control problem that is solved using a dynamic programming approach.info:eu-repo/semantics/publishedVersio

Permanent pastures in mountain areas: characterization, management and conservation

Mountain permanent pastures are one of the most important resources in traditional systems of land use, extensively distributed in central and northern mainland Portugal. Its importance in biodiversity conservation, not only at regional and national level, but also in the European context is generally recognized. They include meadows, mesophille perennial Nardus grasslands and other perennial pastures of high ecological, economic, cultural and scenic value.They have important functions such as prevention of soil erosion, reducing the risk of fire, between others. Generally, they are grazed mainly by cattle and sheep; some of them are cut and improved aiming to increase their nutritional value. The increasing desertification limits the maintenance and conservation of its biodiversity and the landscape mosaic associated with it. A revision and synthesis of habitats and plant communities associated, that develop in these permanent pastures, in Beira Alta, is presented, as well an approach to their maintenance, management and conservatio

Integration of culture- and molecular-based water quality monitoring tools to protect human health

Monitoring and improving the microbiological quality and safety of surface waters used for various purposes, including drinking water abstraction and recreation is paramount as degradation may pose a serious risk to human health and cause significant economic losses as a result of the closure of beaches and shellfish harvesting areas. With the aim of providing new knowledge and tools with which to manage more effectively faecal contamination of water resources, this study focused on three goals: 1) determining the fate and suitability of new bioindicators for virus removal during wastewater treatment; 2) elucidating the levels and sources of faecal pollution in the River Tagus (Rio Tejo) using a blend of newly-developed and existing microbial source tracking (MST) markers; and 3) critically evaluating various pretreatments to distinguish between infectious and non-infectious viruses. To this end, raw and treated wastewater were collected and tested for the presence of traditional faecal indicator bacteria (FIB), and four viral bio-indicators (namely, somatic coliphages (SC), GB124 phages, human adenovirus (HAdV) and JC Polyomavirus (JCPyV)). In order to demonstrate whether the novel bio-indicators might be suitable indicators of risk to human health, Norovirus genogroup II (NoVGII) were also analysed, in parallel. FIB, SC and GB124 phages were analysed using standardised culture methods (membrane filtration and plaque assays) and HAdV, JCPyV and NoVGII were analysed using widely used molecular (qPCR) methods. Samples of river water were collected over a thirteen-month period and analysed for both non source-specific indicators of faecal contamination (Escherichia coli (EC), intestinal enterococci (IE), and SC) and source-specific contamination markers ((GB124 phages, HAdV) and four mitochondrial DNA markers (HMMit, CWMit, PigMit and PLMit)). EC, IE, SC and GB124 phages were detected by culture methods and HAdV and mitochondrial markers were detected by molecular (qPCR) methods. Furthermore, domestic animal markers (based on the detection of mitochondrial DNA) were also developed for dog and cat and tested during the catchment study. Finally, in order to determine accurately the level of risk to human health, heat-, chlorine-, and UV-inactivated Enterovirus and Mengovirus were subjected to PCR pre-treatments using enzymatic digestion and viability dyes, in order to determine infectivity. Detection of inactivated Mengovirus (MC0) was performed by RT-qPCR and detection of inactivated Enterovirus (EntV) was performed by both RT-qPCR and cell culture. The results demonstrated that the traditional bacterial indicators (FIB) were more effectively removed during wastewater treatment than GB124 phages, SC, HAdV and JCPyV, the removal levels of which were more similar to those of NoVGII. Spearman’s correlation showed that SC and GB124 phages correlated positively with NoVGII at a relatively high level and that HAdV and EC correlated positively at a moderate level. Discriminant analysis revealed that whilst no organism could predict the presence or absence of NoVGII in treated wastewater, GB124 phages in combination with other parameters did result in higher percentages of correct classification. GB124 phages plus HAdV appeared to be good candidates as alternative indicators of enteric virus removal during wastewater treatment. Results from the catchment study demonstrated that certain sites on the River Tagus are relatively highly impacted by faecal contamination (as indicated by EC, IE and SC concentrations). Moreover, the MST markers revealed that this contamination appears to be not only of human origin, but also originates from a range of other animal sources. The HMMit marker was the most prevalent and was found at the highest mean concentrations, followed by the CWMit marker. Two-way ANOVA revealed a correlation between concentrations of non source-specific indicators (and the CWMit marker) and season. Physico-chemical parameters, such as temperature and UV radiation, were found to be related to to levels of the CWMit, EC, IE, and SC. Interestingly, rainfall levels were found to be related to concentrations within the river of the PLMit marker and of the newly-developed dog and cat markers. Weak to no correlations were found between non source-specific indicators and the various MST markers, providing further evidence that these faecal indicators were unsuitable for determining the source(s) of contamination in this study. In contrast, the relatively high sensitivity and specificity of the mitochondrial DNA markers supported their use as appropriate markers of the origin of faecal contamination in this scenario. The results from the viral infectivity study demonstrated that results of ‘viability PCR’ (involving viability dyes) of chlorine- and UV-treated viruses did not correlate with those from cell culture assay. However, data from RNase-RT-qPCR from chlorine- and UV-inactivated viruses were consistent with the cell culture assay, achieving full PCR signal reduction in several instances. Heat treatment appeared to play an important role, since a significant reduction in the RT-qPCR signal was achieved. Different pre-treatments were able to achieve full removal of RT-qPCR signal for non-infectious heat-treated EntV and MC0. Therefore, enzymatic treatment may represent a rapid and inexpensive tool for discriminating between infectious and non-infectious viruses and as such should improve understanding of risks to human health. This research has demonstrated that the currently-used methodologies and approaches to assess the potential human health impact of wastewater discharges to environmental waters are limited in their ability to predict the prevalence of important agents of human waterborne disease. Furthermore, these findings provide evidence to support the development and application of alternative and potentially more effective approaches, which could better protect human health in the future

Adaptation and initial validation of the career resources questionnaire for Portuguese - he students form

A diversified set of career resources has been related in the literature with career development and career success. The Career Resources Questionnaire (CRQ), based on the Career Success framework, was proposed by Hirschi and colleagues (2018) as an instrument aggregating several constructs that emerged as important predictors of career success. This study aims to examine the psychometric properties of the CRQ to a Portuguese higher education sample, as a way to extend previous evidence of validity presented by the authors of the original version. For such, construct, convergent and discriminant validity were examined. Also, reliability and correlations analysis were conducted, taking some sociodemographic and educational attainment variables. The obtained findings showed adequate results, which support the use of the CRQ in Portugal for research or practical purposes. Suggestions for further research and practical implications are also presented.FCT -Fundação para a Ciência e a Tecnologia(UIDB/01661/2020

Employability of higher education graduates: reflections and pedagogical implications

The changes that have occurred in higher education and labour market in recent years highlight the need for an in-depth reflection on current prevailing educational paradigms, and their adequacy in responding to the demands of today’s society. One of the topics that has gained particular attention is related with graduates’ employment rates, which represents one current criteria used to assess the quality of higher education institutions and courses. In this context, this article aims to reflect on current knowledge about graduates’ employability. Considering various empirical works and research lines developed over recent years, we propose a set of four premises in an effort to lend structure to some pedagogical and curricular implications for higher education institutions: (i) the risk of the “one-dimensional prioritisation” of technical skills; (ii) career management skills as a catalyst for employability; (iii) graduates and their transformative potential within organizations; (iv) the implausibility of a single model for promoting employability. To conclude, it is argued that the education of future graduates should not limit itself to the present. Pedagogical practices of teaching and learning must promote the continued construction of knowledge and skills, practical experience and work placements in organizations with different structures within the community. Keywords: higher education; graduates; employability; pedagogical implication

The economic performance of bioeconomy : the case of EU27

This dissertation tries to show the importance of bioeconomy through the analysis of its economic performance in the European region, by creating a dashboard numerical model and, posteriorly, the presentation of economic indicators, in Power BI. Moreover, it analyses how bioeconomic performance relates to European Union’s policies towards a sustainable economy, with the inclusion of indicators that measure and relate to sustainability. By analyzing bioeconomic performance and sustainability parameters, with the help of a modern data analysis dynamic tool as Power BI, an overview on current bioeconomic performance within European Union’s 27 Member States, and bioeconomy’s sectors, is achieved, enlightening how bioeconomy is evolving and is characterized in the European context.Esta dissertação tenta mostrar a importância da bioeconomia através da análise da sua performance económica no contexto da região da União Europeia, por via da criação de um modelo numérico numa dashboard e, posteriormente, a apresentação de indicadores económicos, no Power BI. Adicionalmente, analisa de que forma é que a performance económica se relaciona com as políticas da União Europeia de promoção de uma economia mais sustentável, através da inclusão de indicadores que medem e se relacionam com a sustentabilidade. Analisando a performance bioeconómica e os parâmetros de sustentabilidade, com a ajuda de uma ferramenta moderna e dinâmica de análise de dados como o Power BI, uma visão geral sobre a atual performance bioeconómica dos 27 Estados-Membros da União Europeia, assim como sobre os setores da Bioeconomia, é conseguida, esclarecendo de que forma é que a bioeconomia se está a desenvolver e é caracterizada no contexto Europeu

Employabilité des diplômés de l’enseignement supérieur: réflexions et implications pédagogiques

The changes that have occurred in higher education and labour market in recent years highlight the need for an in-depth reflection on current prevailing educational paradigms, and their adequacy in responding to the demands of today’s society. One of the topics that has gained particular attention is related with graduates’ employment rates, which represents one current criteria used to assess the quality of higher education institutions and courses. In this context, this article aims to reflect on current knowledge about graduates’ employability. Considering various empirical works and research lines developed over recent years, we propose a set of four premises in an effort to lend structure to some pedagogical and curricular implications for higher education institutions: (i) the risk of the “one-dimensional prioritisation” of technical skills; (ii) career management skills as a catalyst for employability; (iii) graduates and their transformative potential within organizations; (iv) the implausibility of a single model for promoting employability. To conclude, it is argued that the education of future graduates should not limit itself to the present. Pedagogical practices of teaching and learning must promote the continued construction of knowledge and skills, practical experience and work placements in organizations with different structures within the community.As mudanças, ocorridas no ensino superior e no mercado de trabalho ao longo dos últimos anos, remetem para a necessidade de uma reflexão aprofundada acerca dos paradigmas educativos que hoje prevalecem e da sua adequação face às exigências sociais que hoje se colocam. A este respeito, um dos tópicos que ganha particular relevância relaciona-se com as taxas de emprego dos graduados, e que representa um critério atual utilizado para avaliar a qualidade das instituições e cursos de ensino superior. Pretende-se com este artigo apresentar uma reflexão em torno do conhecimento atual sobre o tema da empregabilidade, integrando diferentes trabalhos e linhas empíricas desenvolvidas ao longo dos últimos anos, organizada em quatro premissas: (i) o risco da “priorização avulsa” das competências técnicas; (ii) as competências de gestão de carreira como catalisadoras da empregabilidade; (iii) os graduados e o potencial transformador das organizações; (iv) a implausibilidade de modelos únicos na promoção da empregabilidade. Para concluir, argumenta-se que a educação dos futuros licenciados não se deve limitar a uma visão de curto prazo. As práticas pedagógicas de ensino e aprendizagem devem promover a construção contínua de conhecimentos e competências, experiência prática e estágios em organizações com diferentes estruturas, dentro da comunidade.Los cambios que se han producido en la enseñanza superior y en el mercado laboral en los últimos años apuntan a la necesidad de una reflexión profunda sobre los actuales paradigmas educativos imperantes y su adecuación a las exigencias de la sociedad actual. En este contexto, uno de los temas que adquiere especial relevancia se refiere a las tasas de empleo de los graduados después de su formación, que es un criterio que se utiliza actualmente para evaluar la calidad de las instituciones y cursos de enseñanza superior. Así pues, este artículo pretende reflexionar sobre los conocimientos actuales en materia de empleabilidad de los graduados. Considerando varios trabajos empíricos y líneas de investigación desarrolladas en los últimos años, se presenta un conjunto de cuatro premisas: i) el riesgo de la “priorización única” de las competencias técnicas; ii) las competencias en materia de gestión de la carrera como catalizadoras de la empleabilidad; iii) los graduados y el potencial transformador de las organizaciones; iv) la inverosimilitud de los modelos singulares en la promoción de la empleabilidad. En conclusión, se argumenta que la educación de los futuros graduados no debe limitarse a las circunstancias y necesidades actuales. Por otra parte, se propone la idea de prácticas de enseñanza y aprendizaje que promuevan la construcción continua de conocimientos, habilidades y experiencias prácticas a fin de contribuir a diferentes tipos de contextos.Les changements survenus dans l’enseignement supérieur et sur le marché du travail ces dernières années soulignent la nécessité d’une réflexion approfondie sur les paradigmes éducatifs qui prévalent actuellement, et sur leur adéquation pour répondre aux exigences de la société actuelle. L’un des sujets qui a fait l’objet d’une attention particulière est lié au taux d’emploi des diplômés, qui représente l’un des critères actuellement utilisés pour évaluer la qualité des institutions et des cours de l’enseignement supérieur. Dans ce contexte, cet article vise à réfléchir sur les connaissances actuelles concernant l’employabilité des diplômés. En tenant compte de divers travaux empiriques et lignes de recherche développés au cours des dernières années, nous proposons un ensemble de quatre prémisses afin de structurer certaines implications pédagogiques et curriculaires pour les institutions d’enseignement supérieur: (i) le risque d’une «hiérarchisation unidimensionnelle» des compétences techniques; (ii) les compétences en gestion de carrière comme catalyseur de l’employabilité; (iii) les diplômés et leur potentiel de transformation au sein des organisations; (iv) l’invraisemblance d’un modèle unique de promotion de l’employabilité. Pour conclure, on fait valoir que l’éducation des futurs diplômés ne devrait pas se limiter au présent. Les pratiques pédagogiques d’enseignement et d’apprentissage doivent promouvoir la construction continue de connaissances et de compétences, l’expérience pratique et les stages dans des organisations ayant des structures différentes au sein de la communauté.This work is funded by CIEd – Research Centre on Education, Institute of Education, University of Minho, projects UIDB/01661/2020 and UIDP/01661/2020, through national funds of FCT/MCTES-P

Translation And Validation Of The Manchester Clinical Supervision Scale©: Effective Clinical Supervision Evaluation

AbstractIn Portugal, we are at the beginning of clinical supervision in nursing. We carried out a research to translate and validate the Manchester Clinical Supervision Scale© (MCSS) into Portuguese language from Portugal. Thus, we can assess the clinical supervision process. We applied the methods of translation and back – translation and experts analyzed translations. MCSS and the back translation were compared by collaborative parties. An empirical study using a test – retest design was made to estimate cross-cultural relevance. Cronbach's alpha value for the total score was 0,923 in both periods. The Portuguese version is culturally acceptable and consistent with the original

Clinical Supervision in Nursing: Effective Pathway to Quality

AbstractEffects of clinical supervision on the quality of care are a key aspect in the improvement of quality and they were defined as a target area by the World Health Organization (Hyrkäs & Lethi, 2003). The aim of this exploratory, descriptive and longitudinal study was to develop a clinical supervision in nursing model that best supports the nurses’ professional practice. The research was done in several health institutions. With this article we pretend to publicize the results of the application of the Portuguese version of the Manchester Clinical Supervision Scale© after the implementation of our clinical supervision in nursing model

Natural Hazards in Sao Vicente (Cabo Verde)

São Vicente island (República de Cabo Verde) lies within the Sahelian zone and faces a number of natural hazards, of which the most significant ones are erosion and gully formation, desertification and flash flooding hazards. Based on examples, we set out to examine the main factors involved in the development of these natural hazards from a regional point of view, while simultaneously assessing the importance of anthropic action as a structural factor. The investigation of Lazareto’s gullies (located to the west of Mindelo) aimed to determine the main factors of the gullies formation. It also sought to demonstrate that the gullies’ formation is a reliable indicator of the high rates of erosion on a regional scale. The approach to the desertification hazards was based on farmers’ perception related to the evolution of agricultural production, strategies to mitigate drought and desertification issues, consequences and future prospects based on a set of interviews conducted in Ribeira da Vinha. Finally, the intense rainfall event that occurred on August 26, 2008 was analysed to identify the main vulnerability factors of the city in light of the flash flood hazard