Regional innovation networks evolution and firm performance: one or two way causality?

Current research has revealed the existence of a relationship between networks and firm growth (Jarillo, 1989; Huggins, 2000). Nevertheless, network content and specificity and how these networks influence firm economic and financial performance has been little investigated. In addition, the influence of regions in relation to the spatial proximity on inter-firm networks should be an additional dimension taken into account if the determinants of firm performance are to be adequately understood. The most important linkages tend to be characterised by territorial closeness and have relevant effects over firm performance (Oerlemans and Meeus, 2002; Lechner and Dowling, 2003). Since automobile industry can be regarded as a worldwide cluster, where the evolution tendency on constructor’s behalf has been to gradually delegate technological competencies into industry suppliers, the regional networks acquire a renewed importance beyond the recognized benefits of sharing, interaction and reciprocity. Given that networks “do not happen in a virtual space where spatial proximity does not matter” (Lechner and Dowling, 2003: 9), the Portuguese inter-firm cooperation within the automotive industry can be regarded as a possible source of regional advantage for responding to globalisation competitive challenges. Thus, in this paper we explore how firms grow through the use of external linkages and become competitive, using case study material based on a Portuguese inter-firm network of the auto-parts industry (ACECIA) and one of its founding members, Simoldes. Using a set of performance indicators, we concluded that its positive evolution was contemporaneous and last beyond ACECIA´s constitution date. Moreover, evidence of possible leverage effects from the combined collaboration emerged indicating that the relation between networks and firm performance implies a two-way causality association.

Agricultural Credit Interest Rate Equalization Policy: A Growth Subsidy?

The Brazilian Interest Rate Equalization System (IRES) subsidizes farmers by providing them with credit at lower than market interest rates. The objective of this research is to evaluate the IRES by comparing its monetary cost with its benefits as measured by Brazilian GDP growth. Estimates are carried out using input-output matrix. The results suggest that each Brazilian real spent by IRES to assist Brazilian family farms increases Brazilian GDP by R$1.75 and that each real spent to assist commercial farms increases GDP by R$ 3.57. The IRES is a subsidy that generates economic growth greater than its cost to society.IRES subsidy, growth, input-output matrix, Agricultural Finance, Q18, C67, O40, H81,

Is Portuguese regional growth schumpeterian? An empirical assessment of the relation between schooling, firm destruction and firm productivity

A study focusing Portuguese textile firms dynamics during the eighties and nineties (Teixeira, 2002; Teixeira and Vieira, 2004) demonstrated that plants which tended to hire workers with higher levels of human capital (education) were those that, on average, presented a lower probability of survival. Macro-level evidence on the relation between human capital, per capita income and productivity seems to be at odds with the micro evidence reported. Specifically, at the economy level the bulk of studies found a positive relation between human capital accumulation and productivity dynamics (Michie et al, 2002; Teixeira and Fortuna, 2003; Maudos et al, 2003) which, at first glance, seems hard to match with the micro-level evidence suggesting that the accumulation of human capital is associated with higher failure rates on firm’s behalf. The potential explanation for this may be related with the fact that firms can be positioned into one of the two possible states – low productivity and low risk or high productivity and high risk. In order for a low productivity-low risk firm to become high productivity-high risk firm it has to hire top educated workers. Successful high productivity-high risk firms, i.e, those that survive, are the ‘engine of growth’. This may explain that regions, which have higher levels of human capital, be those that, in the medium term, have higher levels of per capita income and higher firm failure rates. This association of higher per capita income/productivity levels and higher firm destruction rates translates the schumpeterian issue of creative destruction (Schumpeter, 1942). In the present paper we try to validate this theoretical explanation using empirical evidence at the regional level. Based on panel data relative to 27 Portuguese regions (NUTIII) over the period 1992-1999, we estimate an econometric model of the relation between human capital, firm productivity and firm failure rates. Estimation results suggest important policy implications, namely that policy measures involving schooling incentives, i.e., human capital supply side focused policies, should be replaced by more human capital demand side focused policies aiming to easy bankruptcy processes. Keywords: Schooling, Productivity, Firm Survival, Regions

Effect of RANK+ breast cancer cells’ secretome in monocytic differentiation

Trabalho Final do Curso de Mestrado Integrado em Medicina, Faculdade de Medicina, Universidade de Lisboa, 2022A via RANKL - RANK é um regulador chave da remodelação óssea e fisiopatologia de metástases ósseas, assim como um importante mediador da carcinogénese mamária mediada por hormonas. Dados preliminares do nosso laboratório sugeriram que o meio condicionado (conditioned media, CM) de células de cancro da mama recetor de estrogénio positivas sem amplificação de HER2 (ER+HER2-) e com sobre expressão de RANK (RANK OE) poderia induzir a diferenciação de monócitos in vitro. Esta evidência é particularmente importante, uma vez que o RANKL é uma quimiocina que participa no recrutamento de monócitos e macrófagos com expressão de RANK. Além disso, os macrófagos associados ao tumor (tumor associated macrophages, TAMs), também derivados de monócitos, podem contribuir para a inibição ou crescimento tumoral, se M1 ou M2, respetivamente. Este projeto derivou destas evidências e visou identificar as células diferenciadas da linhagem monocítica após exposição ao secretoma de células RANK OE, através da avaliação da presença de osteoclastos e/ou macrófagos M1/M2. Um painel de linhas de células de cancro da mama, e os seus clones RANK OE, foi cultivado sob condições padrão e os CM recolhidos. As células monocíticas RAW264.7 foram cultivadas durante 5 dias em condições de diferenciação ± 25% CM, ou mantidas em co-cultura com as diferentes linhas celulares de cancro da mama durante 5 dias em condições de diferenciação, e a osteoclastogénese foi quantificada através da contagem de osteoclastos (céulas gigantes multinucleadas com coloração TRAcP 5b positiva) e da quantificação da TRAcP 5b secretada por ELISA. Finalmente, a presença de osteoclastos e macrófagos M1/M2 foi avaliada através da análise de expressão de marcadores específicos, nfatc, iNOS e CD206, respectivamente, por RT-qPCR. Os nossos resultados indicam que o secretoma de células tumorais inibe a osteoclastogénese em comparação com a adição de RANKL exógeno (controlo positivo), quer com adição do CM quer em co-cultura. Nenhum dos CM ou células tumorais foi capaz de induzir osteoclastogénese na ausência de RANKL exógeno. Em ambos os ensaios, observámos células morfologicamente diferenciadas mas sem características de osteoclastos. Verificámos ainda que a sobre expressão de RANK aumenta o efeito inibitório, o que poderá estar associado com a expressão de osteoprotegerina (OPG), já descrita nestas células por nós. Não fomos capazes de confirmar a presença de macrófagos M1/M2 por RT-qPCR, mas colocamos a hipótese de que estas células possam ser macrófagos ou células dendríticas, o que requer uma investigação mais aprofundada. A caracterização das células diferenciadas, bem como do secretoma das diferentes linhas celulares do cancro da mama por multiplex cytokine profiling, poderá ser de grande importância para identificar factores putativos que afetam a diferenciação monocítica, e que podem contribuir para a progressão tumoral.The RANKL - RANK pathway is a key regulator of bone remodeling and pathophysiology of bone metastases and a major mediator of hormone-driven breast carcinogenesis. Preliminary data from our lab suggested that conditioned media (CM) from breast cancer cells that are estrogen receptor positive without HER2 amplification (ER+, HER2-) and with RANK overexpression (RANK OE) could induce the differentiation of monocytes in vitro. This evidence is particularly important since RANKL has shown to be a chemokine that participates in the recruitment of RANK-expressing monocytes and macrophages. Moreover, tumor-associated macrophages (TAMs), also derived from monocytes, can inhibit or stimulate tumor growth, if M1 or M2, respectively. This project stems from these findings and aims to identify the cells differentiated from the monocytic lineage upon exposure to the secretome of RANK OE cells, by assessing the presence of osteoclasts and/or M1/M2 macrophages. A panel of breast cancer cell lines, and their derived RANK OE clones, was cultured under standard conditions, and their CM were collected. RAW264.7 monocytic cells were cultured for 5 days under differentiation conditions ± 25% CM, or maintained in co-culture with the different breast cancer cell lines for 5 days in differentiation conditions, and osteoclastogenesis was quantified through the counting of osteoclasts (giant multinucleated cells with positive TRAcP 5b staining) and the quantification of TRAcP 5b secreted, by ELISA. Finally, the presence of osteoclasts and M1/M2 macrophages was assessed through the analysis of the expression of specific markers, nfatc, iNOS and CD206, respectively, by RT-qPCR. Our results indicate that the secretome of cancer cells inhibits osteoclastogenesis in comparison to the addition of exogenous RANKL (positive control), whether with the addition of CM or in co-culture. In both assays, we have observed morphologically differentiated cells but that did not have characteristics of osteoclasts. Furthermore, we verified that the expression of RANK increases the inhibitory effect, which might be associated with the expression of osteoprotegerin (OPG), already described in these cells by us. We were not able to confirm the presence of M1/M2 macrophages by RT-qPCR, but we hypothesize that these cells may be macrophages or dendritic cells, which requires further investigation. The characterization of these cells and of the secretome of the different breast cancer cell lines by multiplex cytokine profiling, could be of great importance in order to identify putative factors in monocytic differentiation, and which may contribute to tumor progression

Caracterização do sistema de pastoreio de percurso no Nordeste de Portugal

No Nordeste de Portugal, a pastorícia extensiva de pequenos ruminantes é totalmente baseada no sistema de pastoreio de percurso. Neste trabalho são comparados os percursos de pastoreio de ovinos e caprinos de Verão e Inverno, em diferentes situações bioclimáticas regionais, com base na proporção dos diferentes usos do solo percorridos. Foram seguidos 10 rebanhos com GPS (“sistema de posicionamento global”), 6 de caprinos e 4 de ovinos, com uma periodicidade bimensal. À passagem do rebanho, anotaram-se os diferentes tipos de vegetação percorridos, ao mesmo tempo que o aparelho registou a sua localização no espaço e no tempo. Os tipos de vegetação percorridos agruparam-se em 5 classes principais de utilização da terra: agricultura anual, agricultura perene, pastagens, matos e florestas. Através do quociente entre o tempo total passado num dado uso e o tempo total do percurso, determinou-se e comparou-se a importância relativa de cada classe de uso da terra nos diferentes percursos. Há claramente diferentes estratégias de utilização do espaço rural entre rebanhos de ovinos e caprinos. Verificaram-se também diferenças assinaláveis nos percursos de ovinos da Terra Quente e Terra Fria que têm origem provável nas diferentes condições naturais das mesmas

Incorporation of industrial wastes from thermal processes in cement mortars

This work presents the results of the incorporation of some industrial wastes from thermal processes in cement mortars. Employed wastes were generated in electric arc furnace (EAF) steelmaking and in steel foundry production. Namely, research with mortars containing EAF dusts and foundry sands and slags were conducted. Mechanical and environmental evaluation has been done, to compare the waste containing cement mortars samples with the normal one. The results indicated that the incorporation of these wastes generated in thermal processes in cement mortars does not affect significantly the mechanical properties, namely the flexural and compressive strength, and does not induce any relevant environmental impact when the materials have to be considered as waste, at the end of their life cycle. As a matter of fact, the cement mortar, if becoming a residue, may be considered as an inert one. The results of this work indicate that the incorporation of these wastes in cement mortars is an adequate waste management option.Este trabajo presenta los resultados de la incorporación de algunos residuos industriales generados a partir de procesos térmicos en los morteros de cemento. Los residuos son los generados en hornos de arco eléctrico (EAF) de producción de acero y en la producción de fundición de acero. Se llevó a cabo la investigación con morteros que contienen estos polvos, arenas y escorias de fundición. Se realizó una evaluación mecánica y ambiental para comparar los morteros que contienen residuos con el normal. Los resultados indicaron que la incorporación de estos residuos en los morteros de cemento no afecta significativamente las propiedades mecánicas, es decir, resistencia a la flexión y resistencia a la compresión, y no provocan ningún impacto ambiental pertinente cuando el material tiene que ser considerado como residuo, en el final de su ciclo de vida. Efectivamente, si el mortero de cemento, se convertirse en un residuo, ello se puede considerar como un residuo inerte. Los resultados de este trabajo indican que la incorporación de estos residuos en cementos es una vía de gestión adecuad

Valuation of non-life claims provision and the capital requirement for reserve risk

Mestrado em Ciências ActuariaisForam selecionados alguns métodos para calcular as provisões para sinistros, assim como as correspondentes medidas de variabilidade, tendo em consideração os princípios de avaliação de Solvência II. Para além de a literatura existente sobre provisões para sinistros ser bastante diversificada, decidimos focarmo-nos apenas nalguns dos métodos mais usados e explorados. Sendo eles: o modelo de Thomas Mack, o modelo de Bühlmann-Straub e o modelo linear generalizado com distribuição de sobre-dispersão de Poisson. O cálculo do requisito de capital do risco de provisões também foi efetuado através da implementação e comparação de diferentes abordagens, sendo eles: a fórmula padrão com e sem utilização dos parâmetros específicos da empresa e um modelo interno parcial. Por último, foram ainda implementadas duas simplificações para calcular a margem de risco. Tais métodos são baseadas na abordagem de custo de capital e referem-se às duas primeiras simplificações da hierarquia dos modelos simplificados para calcular a margem de risco estabelecidos nas orientações da EIOPA sobre a avaliação das provisões técnicas. No final, foi apresentado um caso de estudo onde se aplicou as metodologias implementadas e algumas análises de sensibilidade a uma amostra de dados para a linha de negócio Automóvel - Responsabilidade Civil.A few selected methods to assess claims provision are applied including the corresponding variability measures, considering the Solvency II valuation principles. Besides the literature on claims reserving is very much diversified, we decided to focus on some of the methods more commonly used and explored. Being them: the Thomas Mack's model, the Bühlmann-Straub model and the Over-Dispersed Poisson Generalized Linear Model. The calculation of the reserve risk capital charge was also focused by implementing and comparing different approaches, being them: the standard formula with and without undertaking specific parameters and a partial internal model. Lastly, two different simplifications to calculate the risk margin were pursued. Such approaches are based on the cost-of-capital method and refer to the first and second simplifications of the hierarchy of simplified methods to calculate the risk margin set out in EIOPA guidelines on the valuation of technical provisions. In the end, a case study involving the methodologies implemented and some sensitivity analysis were applied to a sample of data for Motor Vehicle Liability line of business.info:eu-repo/semantics/publishedVersio

Economics of the Firm and Economic Growth. An hybrid theoretical framework of analysis

The characterization of individual firms is an essential step toward the study of the behaviour of industries and other more aggregated units of economics, and so to the analysis of economic growth processes. Hence, the main goal of this study is to achieve a critical discussion around the conceptualisation of the firm and its role in the dynamical process of economic growth. The approach to the main topic starts with the construction of a theoretical matrix of the economics of the firm, opening with the two major traditions of institutionalist thought in economics, and evolving then towards some considerations around the contractual and the evolutionary approaches. Another important theoretical stream that deals with organizations in economic and sociological terms also appears, the population ecology approach. After this overview, it is developed a cross-exam of distinct theoretical perspectives and the identification of possible flaws of the neoclassical theory. This confrontation, which goes throughout many imperative and controversial issues within economics such as the nature of the firm and the cognitive capacities of economic agents, results in a systematisation about the impact of this discussion on economic growth. The conclusions appear as crucial to develop further research aiming the construction of economic growth models based on a microeconomics that is closer to the reality of firms.Firm; Economic Growth; Institutionalism; Evolutionary theory; Contractual Theory; Ecology Population Theory.

Evaluation of the gas emissions during the thermochemical conversion of eucalyptus woodchips

The combustion of solid biomass in industrial boilers involves a sequence of processes that include heating, drying, devolatilization, and char conversion. To maintain a repeatable and fully controlled environment, and to monitor all the dynamics involved in the phenomena at a real scale, field-scale experiments become necessary to perform investigations. In this way, to evaluate different thermochemical conversion conditions of biomass particles under an oxidative atmosphere, and to quantify the emission of the main gas compounds continuously, a small-scale reactor was developed and presented in this paper. Hence, in this work, larger particles of eucalyptus are burned at 400 and 800 °C under different stoichiometric conditions to understand the differences between different biomass conversion regimes (gasification and combustion). The analysis of the mass loss at the different temperatures was characterized by only two different and consecutive stages for both thermochemical conditions. The first region does not present the influence on the air flow rate; however, there is a significant difference in the second region. This fact highlighted the importance of the diffusion of oxygen during the char conversion. Regarding the quantification of the gas compounds, an increase of around 3 times in the CO and CO2 emissions when gasification occurs was observed at 400 °C. However, at 800 °C, the same trend was verified, also verifying a considerable amount of CH4.Portuguese Foundation for Science and Technology (FCT) within the R&D Units Project Scope UIDB/00319/2020 (ALGORITMI), and R&D Units Project Scope UIDP/04077/2020 (MEtRICs