Equity valuation Airbnb, Inc.

This dissertation aims to determine the target fair-value price of Airbnb, a dynamic and fast-growing Online Travel Agency that has established itself as a leader in providing short-term rentals, and that has been a key part of changing consumer trends in what related to tourist accommodation, even benefiting from the devastating effects of the COVID-19 pandemic. To achieve this goal, two different valuation methodologies were used, the first being a Discounted Cash-flow valuation that was performed on three different growth scenarios, the second being a relative valuation using forward-multiples, that was used as a levelling tool to approximate the result to the current peer and industry levels. The valuation was based on a detailed analysis of the company, industry, and global market forces. The valuation resulted in a BUY recommendation with an average target price of USD 153.51, +46.3% of potential upside compared to the trading price at 25th of July 2022 of USD 104.95. Lastly, a comparison was performed between the dissertation and the May 4th , 2022, HSBC Global Research equity report on Airbnb.Esta dissertação procura determinar o preço justo da empresa Airbnb, Inc., uma Agência de Viagens Online dinâmica e em grande crescimento que se estabeleceu como líder a providenciar alugueres de curta duração e que tem sido uma peça chave nas recentes alterações de padrões de consumo relacionadas com alojamentos turísticos, beneficiando inclusivamente dos devastadores efeitos da recente pandemia de COVID19. Para atingir este objetivo, duas metodologias de avaliação diferentes foram usadas. A primeira foi o método dos fluxos de caixa descontados que foi aplicada em três cenários de crescimento distintos. A segunda foi uma avaliação relativa usando múltiplos, que foi usada como nivelador do resultado em comparação com os pares e indústria da Airbnb. Esta avaliação foi baseada numa análise detalhada da empresa, da indústria e das forças de mercado mundiais. A avaliação resultou numa recomendação de compra com um preço alvo de 153.51 dólares, um equivalente a +46.3% de potencial valorização quando comparado com o preço original de 104.95 dólares a 25 de julho de 2022. Por último, foi efetuada uma comparação entre a dissertação e o relatório da HSBC Global Research de 4 de maio de 2022

Tornar-se homem: dramaturgias em torno das apresentações de si, das emoções e dos afectos em palcos offline e online

Tese de doutoramento Psicologia - (área de conhecimento em Psicologia Social)A expansão significativa dos estudos de género, para a qual diferentes perspectivas teóricas, epistemológicas e metodológicas têm vindo a contribuir, sobretudo a partir da década de 90 do século XX, tem revelado uma pluralidade de barreiras à construção e vivência de diferentes identidades características da existência humana, reforçando as posições, nas quais nos situamos, que rejeitam explicações essencialistas favoráveis à crença de um mundo naturalmente ordenado. De acordo com tais posições, em geral, os homens aprenderam, no contexto da modernidade ocidental, a regular as apresentações de si e a expressão emocional e afectiva, em resultado da incorporação de um modelo dominante que os associa à heterossexualidade, à racionalidade e ao autocontrolo. Diversos estudos, inscritos em epistemologias pós-modernas, têm desafiado, contudo, as consolidações heteronormativas do sexo, do género e da sexualidade. Por outro lado, o ciberespaço é cada vez mais reconhecido como um palco facilitador da expressão de múltiplas apresentações de si e do self-disclosure online, graças a uma menor vulnerabilidade percebida. Face a este cenário, a investigação que neste momento se apresenta tem por objectivo principal dar visibilidade a diferentes dramaturgias em torno das apresentações de si, das emoções e dos afectos em palcos offline (e.g., família, amigos, colegas, local de trabalho, escola, intimidade) e online (e.g., páginas pessoais, blogues, salas de conversação, mensagens instantâneas, redes sociais), por parte de pessoas que se apresentaram como homens numa entrevista em profundidade realizada online. Situada em pressupostos teóricos e epistemológicos construcionistas sociais e na perspectiva queer, a presente investigação, qualitativa e mediada por computador, compreendeu a realização de dois estudos empíricos. O Estudo 1, referente às sexualidades socialmente produzidas como normativas, abrangeu 17 participantes; e o Estudo 2, referente às sexualidades socialmente produzidas como não normativas, outros 17. Foram aferidas, em ambos os estudos, diferentes configurações das masculinidades, bem como das apresentações de si e da expressão emocional e afectiva em palcos offline e online. Uma vez constituído o corpus de análise, e através da análise temática, foram identificados três temas, cuja análise em profundidade foi posteriormente auxiliada pelo método da análise foucaultiana de discurso. Os temas identificados foram: 1) homens e masculinidades; 2) sexualidades masculinas e domesticação emocional e afectiva; e 3) da experiência da opressão, ao desejo de libertação: identidades e poder no ciberespaço. Em geral, os resultados apontam para uma assimetria de poderes associada a uma hierarquização das masculinidades, sendo que a masculinidade hegemónica surge como uma espécie de ideologia universal, experienciada em jeito de crença pelos participantes dos dois estudos, quanto à forma como um homem deve “ser” e “parecer”, o que significa: heterossexual, fisicamente robusto, autosuficiente e emocionalmente controlado. Por outro lado, foi revelada uma diversidade de identidades masculinas independente da orientação sexual, silenciada por contextos opressivos que as remetem para “dentro do armário”, potenciando, deste modo, a ocorrência de implicações negativas para a saúde. É neste contexto que o ciberespaço surge como um palco revelador de diferentes experiências contraditórias de poder e, simultaneamente, um palco de exercício de poder associado às identidades e à expressão emocional e afectiva. O mesmo surge como um lugar que favorece a mobilização individual e colectiva, favorecendo sentimentos de pertença e, nesse sentido, (mais) uma “chave” para abrir o armário, denunciando inúmeros paradoxos de uma sociedade que se diz atenta aos direitos, liberdades e garantias dos cidadãos que lhe dão vida.The significant expansion of studies on gender, which have received different theoretical, epistemological and methodological perspectives since the 1990’s, have been revealing a plurality of barriers to the construction and the experience of different identities which are characteristic of human existence, strengthening the views on which we stand and which reject essentialist explanations favourable to the belief in a naturally ordained world. In general, according to these views, men have learned in the context of western modernity, to regulate the presentations of themselves and their emotional and affectional expression as the result of the incorporation of a dominant model which binds them to heterosexuality, rationality and self-control. Several studies, inscribed in post-modern epistemologies have however challenged the heteronormative consolidations of sex, gender and sexuality. On the other hand, cyberspace is growing in recognition as a stage that facilitates the expression of multiple presentations of oneself and of online self-disclosure, thanks to the lesser degree of vulnerability perceived there. Given this scenario, the research which is presented at this moment has as its main goal to heighten the visibility of different dramaturgies around the presentations of oneself, of emotions and of affections on offline (e.g., family, friends, colleagues, workplace, school, intimacy) and online stages (e.g., personal homepages, blogs, chat rooms, instant messaging, social networks), by people who presented themselves as men in the context of an in depth interview which took place online. The present qualitative research, situated in social constructionist theoretical and epistemological presumptions and in the queer perspective, had the computer as its medium and comprehends two empirical studies. Study 1, which refers to socially produced sexualities as normative, involved 17 participants; Study 2, which refers to socially produced sexualities as non-normative, involved 17 other participants. Both studies compared different configurations of the masculinities, as well as the presentations of oneself and the emotional and affective expression in offline and online stages. Once the corpus of analysis was constituted, three themes were identified through theme analysis, and their in depth analysis was later aided by the method of the foulcaultian analysis of speech. The themes identified were: 1) men and masculinities; 2) masculine sexualities and emotional and affective domestication; and 3) from the experience of oppression to the desire of liberation: identities and power in cyberspace. In general, the results point to an asymmetry of powers associated to a hierarchy of the masculinities where the hegemonic masculinity appears as a kind of universal ideology, experienced as a belief by the participants of both studies, regarding the way a man should “be” and “appear”, and that is: heterosexual, physically robust, self-sufficient and emotionally in control. On the other hand, the studies revealed a diversity of masculine identities regardless of sexual orientation, silenced by oppressive contexts which confine them into “closets” and therefore give rise to the potential occurrence of negative implications to one’s health. It is within this context that cyberspace appears as a revealing stage for different contradictory experiences of power and, simultaneously, a stage for the exercise of power associated to the identities and to the emotional and affective expression. It also appears as a place that favours individual and collective mobilization, nurturing feelings of belonging and in that sense, providing (another) “key” to open the closet, denouncing innumerable paradoxes of a society which claims itself as regardful to the rights and the freedom of the citizens which bring it to life

BioTech agrifood innovation: a pre-acceleration program and contest to promote knowledge and technology transfer in agri-food and agri-environmental sectors

This study aims to develop and implement a contest and pre-acceleration program for business projects in the agri-food and agri-environment areas through academic entrepreneurship. This research involved a single exploratory case study, with primary data collected through instruments developed for the Lab2Business project and observations of different project actions.info:eu-repo/semantics/publishedVersio

Avaliação do Risco de Contaminação de Águas Subterrâneas na Região Oeste da Bahia pelo Inseticida Carbofuran, Empregando os Modelos Attenuation Factor (AF) e Retardation Factor (RF)

This work was carried out to study ground water contamination potential by the insecticide carbofuran (2,3-dihydro-2,2-dimethylbenzofuran-7-methylcarbamate), the estimated profile leaching of 0 -10 cm and 10-20 cm the oxisol a soy acreage, corn, and cotton in Barreiras, Western Bahia region. The leaching parameters were assessed employing Attenuation Factor (AF) and Retardation Factor (RF) models, two indices used as groundwater contamination potential indicators. Based on the values for the models, it was found that the total contribution of pesticide reaching the ground, concentrated to 35% at 10 cm depth. Among these, 26% leached to a depth of 20 cm of the soil profile. The results for the models demonstrated the likelihood of contamination of groundwater by leaching of carbofuran. DOI: http://dx.doi.org/10.17807/orbital.v1i1.71

Associations between gross motor coordination and academic achievement in elementary school children

We aimed to evaluate the relationship between gross motor coordination (MC) and academic achievement (AA) in a sample of Portuguese children aged 9–12 years. The study took place during the 2009/2010 school year and involved 596 urban children (281 girls) from the north of Portugal. AA was assessed using the Portuguese Language and Mathematics National Exams. Gross MC was evaluated with the Körperkoordination Test für Kinder. Cardiorespiratory fitness was predicted by a maximal multistage 20-m shuttle-run test of the Fitnessgram Test Battery. Body weight and height were measured following standard procedures. Socio-economic status was based on annual family income. Logistic Regression was used to analyze the association of gross MC with AA. 51.6% of the sample exhibited MC disorders or MC insufficiency and none of the participants showed very good MC. In both genders, children with insufficient MC or MC disorders exhibited a higher probability of having low AA, compared with those with normal or good MC (p < .05 for trend for both) after adjusting for cardiorespiratory fitness, body mass index and socio-economic status.CIEC – Research Centre on Child Studies, UM (FCT R&D 317

Os novos territórios da fotografia: os arquivos fotográficos e a fotografia digital

Mestrado em Criação Artística ContemporâneaNuma época marcada por profundas alterações das práticas do registofotográfico, quer do ponto de vista da sua semântica quer do ponto de vistadas tecnologias que lhe estão associadas, esta dissertação avalia atéque ponto os fotógrafos, no contexto da criação artística contemporânea, podemcontribuir para a redefinição dos arquivos fotográficos. Céleres na apropriaçãoe utilização das novas tecnologias digitais, dos equipamentos fotográficos àedição e difusão através da Internet, os fotógrafos assimilaram práticas quepodem ajudar na construção, organização e preservação dos arquivos fotográficos. Neste estudo cruza-se a crescente adaptabilidade dos criadores contemporâneos às novas tecnologias e aos novos conceitos sobre a fotografia e a realidade dos arquivos fotográficos, enquanto repositórios damemória colectiva. Quando cada vez mais se equaciona o sentido e o valor dapós-fotografia, interessa prever e estabelecer orientações para o que poderá vir a ser o pós-arquivo. Um estudo que propõe ajustes nas metodologias dearquivos em plena adaptação tecnológica e que redefine conceitos naestruturação de novos arquivos como a Imagoteca (Arquivo FotográficoMunicipal de Aveiro). ABSTRACT: This dissertation depicts the extent to which photographers can contribute towards the re-definition of photographic archives, in the context of the contemporary artistic creation, at a time marked by profound changes in thepractices of photographic record, both in terms of its semantics and oftechnologies associated with it. Photographers have shown quick ability ofappropriation and use of new digital technologies, from photographic devices tothe edition and image diffusion on the internet and therefore have assimilatedpractices that can help on the construction, organization, preservation of photographic archives. This study shows the relationship between the contemporary creators’ growingadaptability to new technologies and to new concepts on photography and thereality of photographic archives, as repositories of collective memory. As thereis an increasing tendency to consider the meaning and the value of post-photography, it’s appropriate to anticipate and to establish guidelines for thepost-archives. This research not only suggests some adjustments to themethods already used, but also redefines some concepts on the structure ofnew photographic archives such as Imagoteca (Aveiro Municipal PhotographicArchive)

Big data analytics e o desempenho das empresas em Portugal

Dissertação de mestrado em Economia Industrial e da EmpresaNuma sociedade cada vez mais globalizada, interconectada e automatizada, big data analytics surge como uma oportunidade única no tecido empresarial para, não só apoiar as empresas em processos de tomada de decisão, na melhoria das operações e na identificação de novas oportunidades, como também ajudá-las a tonarem-se mais eficientes, competitivas e resilientes. Desta forma, big data analytics é um processo que já começa a estar incorporado em vários setores de atividade, como o setor da saúde, financeiro, retalho, entre outros. Apesar do crescimento da literatura sobre o potencial de big data analytics nos negócios, certo é que apenas 13% das empresas europeias fazem big data analytics e escassos têm sido os estudos empíricos realizados sobre os efeitos que a realização de big data analytics possui nas empresas, tanto a nível mundial, como em Portugal. Assim, o principal objetivo deste trabalho é aumentar o conhecimento sobre big data analytics e o desempenho das empresas com a aplicação de um modelo quantitativo e inovador ao contexto empresarial português, dando resposta à seguinte questão de investigação: Qual é a relação e o efeito de big data analytics no desempenho das empresas em Portugal? Para responder ao objetivo e à questão formulada, foi então criado um modelo de regressão linear múltipla para análise de dados, de 2016, 2018 e 2020, fornecidos pelo Instituto Nacional de Estatística (INE) ao abrigo de um protocolo de colaboração com instituições de ensino. Os resultados obtidos mostram que big data analytics tem de facto um efeito positivo no desempenho das empresas em Portugal, a relação entre big data analytics e o ponderador do volume de negócios é estatisticamente significativa e o p-value registado é menor que o nível de significância de 5%. Os resultados corroboram a literatura sobre o tópico e, por isso, urge-se um movimento de adoção nas empresas que ainda não praticam big data analytics.In an increasingly globalised, interconnected, and automated society, big data analytics emerges as a unique opportunity in business to not only support companies in decision-making processes, improving operations and identifying new opportunities, but also to help them become more innovative, competitive and resilient. In this way, big data analytics is a process that is already starting to be incorporated in various sectors of activity, such as the health, financial and retail sectors, among others. Despite the growth of literature on the potential of big data analytics in business, it is true that only 13% of European companies perform big data analytics and there have been few empirical studies carried out on the effects that performing big data analytics has on companies, both at European level and in Portugal. Thus, the main objective of this work is to increase knowledge about big data analytics and company performance by applying a quantitative and innovative model to the Portuguese business context, answering the following research question: What is the relationship and the effect of big data analytics on company performance in Portugal? To answer the objective and the formulated question, a multiple linear regression model was then created to analyse data, from 2016, 2018 and 2020, provided by the National Statistics Institute (INE) under a collaboration protocol with educational institutions. The results obtained show that big data analytics has indeed a positive effect on the performance of companies in Portugal, the relationship between big data analytics and the turnover weighting is statistically significant and the p-value recorded is smaller than the 5% significance level. Results corroborate the literature on the topic and thus, an adoption movement is urged at companies that do not yet practice big data analytics

Guia de boas práticas na construção de web sites da administração directa e indirecta do Estado

Unidade de Missão Inovação e Conhecimento (UMIC)Universidade do Minho - Departamento de Sistemas de Informação (DSI

An integrated decision support system for improving wildfire suppression management

Funding Information: This work was financially supported by FCT (National Foundation of Science and Technology) within the Research Unit CTS?Centre of Technology and Systems, UIDB/00066/2020, and the Project forester (PCIF/SSI/0102/2017). We would like to thank the authorities from the municipality of Ma??o, in particular to Engineer Ant?nio Louro, for the valuable support in establishing the user requirements and the feedback for the system?s validation. Special thanks to the Adjunct of National Operations in the National Command of Security Operations (CNOS) part of the National Authority of Civil Protection (ANPC) Alexandre Penha, for their input in the early stages of this work.Wildfires are expected to increase in number, extent, and severity due to climate change. Hence, it is ever more important to integrate technological developments and scientific knowledge into fire management aiming at protecting lives, infrastructure, and the environment. In this paper, a decision support system (DSS) adapted to the Portuguese context and based on multi-sensor technologies and geographic information system (GIS) functionalities is proposed to leverage operational data, enabling faster and more informed decisions to reduce the impact of wildfires. Here we present a flexible and reconfigurable DSS composed of three components: an ArcGIS online feature service that provides operational data and enables a collaborative environment of users that share operational data in near real-time; a mobile client application to interact with the system, enabling the use of GIS technology and visualization dashboards; and a multi-sensor device that collects field data providing value to external services. The design and validation of this system benefitted from the feedback of wildfire management specialists and a partnership with an end-user in the municipality of Mação that also helped establish the system requirements. The validation results demonstrated that a robust system was achieved with fully interoperable components that fulfill the defined system requirements.publishersversionpublishe

Refinement criteria for high fidelity interactive walkthroughs

Physically based global illumination rendering at interactive frame rates would enable users to navigate within complex virtual environments, such as archaeological models. These algorithms, however, are computationally too demanding to allow interactive navigation on current PCs. A technique based on image subsampling and spatiotemporal coherence among successive frames is exploited, while resorting to progressive refinement whenever there is available computing power. A physically based ray tracer (Radiance) is used to compute reflected radiance at the model's triangles vertices. Progressive refinement is achieved increasing the sampling frequency by subdividing certain triangles and requesting shading information for the resulting vertices. This paper proposes and evaluates different criteria for selecting which triangles to subdivide. A random criterium and two criteria based on Normalized Luminance Differences are evaluated: one operating on image space, the other on object space. Results, obtained with a model of an old roman town, show that the object space criterium is able to locate and represent visual discontinuities, such as shadows, and does so requiring less triangle subdivisions than the other two.Fundação para a Ciência e a Tecnologia (FCT) - POSI/CHS/42041/2001