No Deep Pockets: Some stylized results on firms' financial constraints

This paper is a brief survey of recent empirical work on financial constraints faced by firms. It is organized as a series of stylized results which mirror what is generally understood about severity of financial constraints and effects that they have upon firms. This survey shows that (a) the financial constraint is a widespread key concern for firms, hindering their ability to carry out their optimal investment and growth trajectories and (b) the severity of such constraints depends on institutional and firm specific characteristics, as well as on the nature of investment projects.Firms’ financial constraints; Firm-level studies.

Measuring firms’ financial constraints: Evidence for Portugal through different approaches

Today's shortage of financial resources calls for the attention of researchers to the problem of financial constraints faced by firms. In this paper we analyse firms' financial constraints by estimating both investment-cash flow sensitivities and cash-cash flow sensitivities upon a large unbalanced panel of Portuguese firms in order to obtain robust findings. Additionally, we classify firms according to characteristics that are generally believed to indicate the presence of constraints (size, age and dividend payment). Our results clearly show that Portuguese firms are, in general, financially constrained. Furthermore, we verify that such constraints are more severe for certain groups of firms, in particular those firms that are smaller and do not pay dividends. However, we do not find evidence that age as a good proxy for financial constraints. Finally, we cast some doubts on the direct implementation of the SA index as a measure of financial constraints.Financial constraints; Firm-level studies; Portugal.

Financial constraints: Are there differences between manufacturing and services?

This paper is the first to explicitly explore the differences in firms' financial constraints between and within sectors of economic activity, by estimating the sensitivities of cash holdings to cash-flow upon an unique dataset of Portuguese firms. It shows that, not only there are remarkable differences between sectors and, especially, industries, but most importantly, that the commonly accepted inverse relationships between financial constraints and size and age are not robust to sectorial disaggregation.Services; Financial constraints; Firm-level studies; Portugal.

Financial constraints, exports and monetary integration - Financial constraints and exports: An analysis of Portuguese firms during the European monetary integration

Financial constraints are a key determinant that hinders firms' ability to export. This paper analyses the nexus between these constraints and firms' engagement in international trade, as well as it explores the impact of the European monetary integration process upon firms' financial constraints. Therefore, we estimate cash to cash-flow sensitivities for different periods (1996-2000 and 2001-2004) and different groups of firms, according to their exporting and importing activity. Our results indicate that, depending on their international openness, the European monetary integration seems to have generally helped reducing the degree of financial constraints faced by Portuguese firms. Additionally, our findings suggest that, rather than unconstrained firms self-selecting into exporting, firms' constraints were reduced after they started exporting.Financial constraints; Exports; European financial integration; Firm-level studies; Portugal

Reflexões sobre a implantação e implementação do Projeto de Intervenção

Relatório apresentado à Disciplina de Supervisão de Estágio Obrigatório III e ao docente orientador acadêmico, como prérequisito de avaliação e acompanhamento da realização de Estagio Supervisionado Obrigatório em Serviço Social III. O projeto de intervenção ora avaliado, é resultado do trabalho conjunto entre estagiário, supervisora de campo, supervisora acadêmica, com aprofundamento teórico no componente de Estágio Obrigatório em Serviço Social III, sendo a supervisão de estágio uma instância que favoreceu o trânsito do singular ao universal (LEWGOY, 2010)

Relatório de Estágio obrigatório em Serviço Social II: coordenação do curso de graduação em Serviço Social da Universidade Federal da Integração Latino-Americana (UNILA)

Relatório final de atividades de estágio obrigatório em Serviço Social II, realizado na Coordenação do curso de Serviço Social da UNIL

Política de atención a mujeres en situación de violencia: un estudio exploratorio en Ciudad del Este y Foz de Yguazú

O artigo em tela visa caracterizar as políticas públicas de atenção à mulher em situação de violência, sua implementação e execução no Brasil e Paraguai, com recorte analítico para as cidades gêmeas de Foz do Iguaçu/BR e Ciudad Del Este/ PY, a partir de estudos exploratórios, com base teórica (leis, decretos e portarias dos respectivos países) e empírica (realizada através de visita in loco), visando identificar, em seus conteúdos programáticos, as divergências e convergências no processo de criação, execução e implementação dessas políticas nas cidades gêmeas.El artículo en pantalla pretende caracterizar las políticas públicas de atención a la mujer en situación de violencia, su implementación y ejecución en Brasil y Paraguay, con recorte analítico para las ciudades gemelas de Foz do Iguaçu/BR y Ciudad del Este/PY, a partir de estudios exploratorios (ley, decretos y reglamentaciones de los respectivos países) y empírica (a través de visita in loco), con el objetivo de identificar, en sus contenidos programáticos, las diferencias y similitudes en el proceso de creación, ejecución e implementación de esas políticas en las dos ciudades

Dossiê de Estágio obrigatório em Serviço Social

O presente Dossiê pretende promover um diálogo articulado a respeito do Estágio Obrigatório em Serviço Social nas etapas I, II, III e IV. Tal documento é elemento fundamental e parcial para finalização das atividades de estágio em Serviço Social na Universidade Federal da Integração Latino-Americana (UNILA), conforme previsto no Projeto Pedagógico do Curso (PPC)