DETERMINANTS OF CAPITAL STRUCTURE OF SMALL AND MEDIUM ENTERPRISE IN PORTUGAL AND SPAIN

The main objective of this article is to analyze the determinants of the capital structure of small and medium enterprises (SME’s) using a sample of companies in Portugal and Spain and a multiple linear regression with panel data for the period between 2005 and 2008. The explanatory variables of the dependent variable capital structure are dimension, growth opportunities, asset tangibility, profitability, and profit rate. The results show that SME’s in both countries are similar in the choice of capital structure. The determinant “profit rate” was not relevant to explain the level of indebtedness of SME’s. The indicators growth opportunities, profitability and asset tangibility considered in the analysis shown to be determinants on the capital structure of the companies under analysis. Finally, the indicator “dimension” is significant for Portugal but not for Spain

Active accessibility: A review of operational measures of walking and cycling accessibility

Active travel is enthusiastically promoted in the Westernworld due to its clear and demonstrated individual and collective benefits. While active travel has been shown to be associated with featuresof the built environment such as density and land-use mix, it is alsoassociated with walking and cycling accessibility-which we designateas active accessibility. However, the measurement of active accessibility is not straightforward and it can represent significantly differentfeatures of the built environment. This paper presents an extensivereview of published research that measures active accessibility. Weclassified the literature into four categories based on the methodologyused: distance-based, gravity-based or potential, topological or infrastructure-based, and walkability and walk score-type measures. A fifthcategory was created to classify outliers consisting of distinct methodological approaches or hybrids of the four main categories. We arguethat almost all of these methods have conceptual and computationallimitations, and that there are inconsistencies in the use of conceptsand terms. Furthermore, no sensitivity analysis was carried out on theselected parameters. We conclude by presenting some guidelines thatmight improve the value and clarity of active accessibility research,theory, and practice

Sistema de visão inteligente de baixo custo para parque de estacionamento

Dissertação de mestrado, Engenharia Elétrica e Eletrónica, Instituto Superior de Engenharia, Universidade do Algarve, 2015Sistemas inteligentes para parque de estacionamento contribuem para a redução de tráfego, facilitando aos utilizadores a procura de um lugar de estacionamento, o que permite poupar tempo e dinheiro. No entanto, tais sistemas requerem, geralmente, instalações dispendiosas. Na presente dissertação, é proposto um sistema de visão computacional de baixo custo baseado no Raspberry Pi 2 e numa HD webcam para a deteção de lugares livres. O algoritmo de visão é baseado num detetor de arestas e num limite dinâmico atribuído a cada lugar para inferir sobre o estado do lugar. O sistema foi testado em ambiente real com diferentes condições atmosféricas e oclusões parciais entre os veículos. O algoritmo corre em tempo real e tem uma taxa de sucesso de 99.6%

A tutela preventiva da responsabilidade civil

The contemporary society is characterized by high risks. Today, the prevention of damages is as important as compensation. This is due to the fact that the potentiality of several damages is not in line with compensation, because often compensation proves to be impossible. Civil law should be at the service of the citizens, which explains that the heart of the institution of non-contractual liability has gradually moved towards the victim's protection. It is requested from Tort law an active attitude that seeks to avoid damages, reducing its dimension and frequency. The imputation by risk proves to be necessary and useful in the present context as it demonstrates the ability to model behaviors, functioning as a warning for agents engaged in hazardous activities. Economically, it seeks to prevent socially inefficient behaviors. Strict liability assumes notorious importance as a deterrent and in the dispersion of damage by society. The paradigm of the imputation founded on fault has proved insufficient for the effective protection of the interests of the citizens, particularly if based in an anachronistic vision of the concept of fault. Prevention arises in several areas, especially in environmental liability, producer liability and liability based on infringement of copyright and rights relating to the personality. To overcome the damage as the gauge for compensation does not inevitably mean the recognition of the punitive approach. Prevention should not be confused with reactive/punitive objectives. The deterrence of unlawful conduct is not subordinated to punishment.A sociedade contemporânea carateriza-se pelo elevado nível de riscos. Hoje, tão importante como o ressarcimento é a prevenção dos danos. Visto que, a potencialidade de diversos danos não se coaduna com a reparação, pois muitas vezes esta revela-se impossível. O atual Direito Civil deve estar ao serviço das pessoas, desta forma o cerne do instituto tem-se vindo a vocacionar progressivamente para o lesado. Solicita-se à responsabilidade civil uma atitude ativa que procure evitar os danos, reduzindo a sua dimensão e frequência. A imputação pelo risco revela-se necessária e útil no contexto atual ao demonstrar capacidade para modelar comportamentos, funcionando como um aviso de cautela para os agentes que desenvolvem atividades perigosas. Economicamente, pretende prevenir-se comportamentos socialmente ineficientes, assumindo notória importância a responsabilidade objetiva enquanto fator de dissuasão e de dispersão dos danos pela sociedade. O paradigma da imputação fundada na culpa demonstra-se insuficiente para a efetiva tutela dos interesses dos cidadãos, especialmente se se adotar uma visão anacrónica do conceito de culpa. A prevenção floresce em áreas diversas, especialmente no âmbito da responsabilidade ambiental, do produtor, decorrente da violação de direitos de propriedade intelectual e de direitos de personalidade. A superação do dano enquanto bitola da indemnização não significa necessariamente o reconhecimento da vertente punitiva. A prevenção não se confunde com objetivos reativos/repressivos, a dissuasão de comportamentos ilícitos não está subordinada à punição

Viajando pelas emoções: encenando o erótico

This article discusses translation for performance as a humanist endeavour driven by the desire for connection with otherness. Drawing on the ideas of Gabriel Marcel, Georges Bataille and Slavoj Žižek, among others, it describes stage translation in terms of a nostalgia for the absent human, as a mode concerned with restoring lost connectedness, a continuance of being that goes beyond the confines and constraints of the rational. In that sense, it argues that there is something that is common to the promise held out by translation and erotic experience alike. In the final analysis it maybe that what ignites that promise is the contrast to self-possession, the antidote to our discontinuous mode of existence as defined and separate individuals.Este artigo discute a tradução para a performance como um esforço humanista impulsionado pelo desejo de conexão com a alteridade. A partir das ideias de Gabriel Marcel, Georges Bataille e Slavoj Žižek, entre outros, ele descreve a tradução teatral nos termos de uma nostalgia pelo humano ausente, como uma prática preocupada em recuperar a conexão perdida, uma continuação do ser que vai além dos limites e restrições do racional. Nesse sentido, argumenta que há algo comum à promessa mantida pela tradução e pela experiência erótica. Em última análise, talvez o que acenda essa promessa seja o contraste com a posse de si mesmo, o antídoto para nosso modo descontínuo de existência como indivíduos definidos e separados

Evaluation of Phytosterols in Milk and Yogurts Used as Functional Foods in Portu

The early development of cardiovascular diseases, one of the major death causes in Europe, is clearly associated with high plasmatic cholesterol levels. However, it is demonstrated that the ingestion of phytosterols enriched milk and yogurts could reduce cholesterolemia. The purpose of the present work was to assess the commercially available phytosterols-enriched milk and yogurts. As such, the available three milk and seven yogurt presentations in Portuguese market were collected during 2008 and analyzed through gas chromatography coupled with mass detection. All the analyzed milk samples were in agreement with the proportion established by the European Commission, with β-sitosterol as the more abundant phytosterol. However, and contrarily to milk, the different yogurt manufacturers had different options in the phytosterols added to the dairy foods commercialized