Equity research - Dassault Aviation

Mestrado em FinançasO presente estudo contém uma avaliação detalhada da empresa francesa Dassault Aviation SA. Esta avaliação segue as normas de projeto final de mestrado bem como o formato recomendado pelo CFA Institute. O preço-alvo foi calculado com base em métodos de avaliação absolutos como o Discounted Cash Flow method (DCF). Adicionalmente foram realizadas avaliações relativas e análises de sensibilidade por forma a complementar e dar suporte à avaliação. Os pressupostos considerados no decorrer da avaliação resultam de uma abrangente análise dos relatórios anuais da empresa, dados macroeconómicos e tendências da indústria aeroespacial, com recurso a várias fontes. A recomendação final é de BUY, tendo em conta o price target calculado de 1422.15 EUR para 2021YE, representando um ganho potencial de 46.07% quando comparado com o preço de fecho 767 EUR a 6 de Novembro 2020, data que representa o fim do presente estudo.The present study presents include a detailed valuation of the French aerospace company Dassault Aviation SA. It was elaborated following the ISEG Master Final Project rules and the recommended format from the CFA Institute. The price target was reached mainly through absolute valuation methods with the Discounted Cash Flow method (DCF), additionally a relative valuation and sensitivity analysis to provide support and complement the 5 year valuation. The assumptions considered during the report are the result of a wide analysis of the company annual reports, macroeconomic forecasts and industry trends from various different sources. The final recommendation is to BUY, considering the computed price target of 1422.15 EUR for 2021YE representing an upside potential of 46.07% from its closing price 767 EUR at 6 November 2020, which represents the date on which this study was finalized.info:eu-repo/semantics/publishedVersio

Modeling and visualization of medical anesthesiology acts

Dissertação para obtenção do Grau de Mestre em Engenharia InformáticaIn recent years, medical visualization has evolved from simple 2D images on a light board to 3D computarized images. This move enabled doctors to find better ways of planning surgery and to diagnose patients. Although there is a great variety of 3D medical imaging software, it falls short when dealing with anesthesiology acts. Very little anaesthesia related work has been done. As a consequence, doctors and medical students have had little support to study the subject of anesthesia in the human body. We all are aware of how costly can be setting medical experiments, covering not just medical aspects but ethical and financial ones as well. With this work we hope to contribute for having better medical visualization tools in the area of anesthesiology. Doctors and in particular medical students should study anesthesiology acts more efficiently. They should be able to identify better locations to administrate the anesthesia, to study how long does it take for the anesthesia to affect patients, to relate the effect on patients with quantity of anaesthesia provided, etc. In this work, we present a medical visualization prototype with three main functionalities: image pre-processing, segmentation and rendering. The image pre-processing is mainly used to remove noise from images, which were obtained via imaging scanners. In the segmentation stage it is possible to identify relevant anatomical structures using proper segmentation algorithms. As a proof of concept, we focus our attention in the lumbosacral region of the human body, with data acquired via MRI scanners. The segmentation we provide relies mostly in two algorithms: region growing and level sets. The outcome of the segmentation implies the creation of a 3D model of the anatomical structure under analysis. As for the rendering, the 3D models are visualized using the marching cubes algorithm. The software we have developed also supports time-dependent data. Hence, we could represent the anesthesia flowing in the human body. Unfortunately, we were not able to obtain such type of data for testing. But we have used human lung data to validate this functionality

Fractional dynamics in liquid manipulation

This paper presents a fractional calculus perspective in the study of signals captured during the movement of a mechanical manipulator carrying a liquid container. In order to study the signals an experimental setup is implemented. The system acquires data from the sensors, in real time, and, in a second phase, processes them through an analysis package. The analysis package runs off-line and handles the recorded data. The results show that the Fourier spectrum of several signals presents a fractional behavior. The experimental study provides useful information that can assist in the design of a control system and the trajectory planning to be used in reducing or eliminating the effect of vibrations

Filtering method in backlash phenomena analysis

The behavior of robotic manipulators with backlash is analyzed. Based on the pseudo-phase plane two indices are proposed to evaluate the backlash effect upon the robotic system: the root mean square error and the fractal dimension. For the dynamical analysis the noisy signals captured from the system are filtered through wavelets. Several tests are developed that demonstrate the coherence of the results

Experimental backlash study in mechanical manipulators

The behavior of mechanical manipulators with backlash is analyzed. In order to acquire and study the signals an experimental setup is implemented. The signal processing capabilities of the wavelets are used for de-noising the experimental signals and the energy of the obtained components is analyzed. To evaluate the backlash effect upon the robotic system, it is proposed an index based on the pseudo phase plane representation. Several tests are developed that demonstrate the coherence of the results

A multidimensional scaling analysis of musical sounds based on pseudo phase plane

This paper studies musical opus from the point of view of three mathematical tools: entropy, pseudo phase plane (PPP), and multidimensional scaling (MDS). The experiments analyze ten sets of different musical styles. First, for each musical composition, the PPP is produced using the time series lags captured by the average mutual information. Second, to unravel hidden relationships between the musical styles the MDS technique is used. The MDS is calculated based on two alternative metrics obtained from the PPP, namely, the average mutual information and the fractal dimension. The results reveal significant differences in the musical styles, demonstrating the feasibility of the proposed strategy and motivating further developments towards a dynamical analysis of musical sounds

Retinal progression biomarkers of early and intermediate age-related macular degeneration

Funding Information: Funding: This work was supported by Fundação para a Ciência e Tecnologia project PTDC/MED-PAT/30385/2017 and iNOVA4Health-UIDB/04462/2020, a program financially supported by Fun-dação para a Ciência e Tecnologia/Ministério da Educação e Ciência, Portugal, through national funds and co-funded by FEDER under the PT2020 Partnership Agreement. Funding Information: This work was supported by Fundação para a Ciência e Tecnologia project PTDC/MEDPAT/30385/2017 and iNOVA4Health-UIDB/04462/2020, a program financially supported by Fundação para a Ciência e Tecnologia/Ministério da Educação e Ciência, Portugal, through national funds and co-funded by FEDER under the PT2020 Partnership Agreement. Publisher Copyright: © 2021 by the authors. Licensee MDPI, Basel, Switzerland.Early and intermediate AMD patients represent a heterogeneous population with an important but variable risk of progression to more advanced stages of the disease. The five-year progression from early and intermediate AMD to late disease is known to range from 0.4% to 53%. This wide variation explains the particular interest in searching predictive AMD biomarkers. Clinical parameters such as drusen size, presence of pigmentary abnormalities, and fellow eye status were, traditionally, the more important predictive elements. Multimodal retinal assessment (Color Fundus Photography, Optical Coherence Tomography, Optical Coherence Angiography and Fundus Autofluorescence) is providing new and accurate image biomarkers, useful in research and in daily practice. If individual progression risk could be anticipated, then management plans should be adapted accordingly, considering follow-up intervals and therapeutic interventions. Here, we reviewed the most important image progression biomarkers of early and intermediate AMD with relevant interest in clinical practice.publishersversionpublishe

El derecho a la igualdad sin discriminación por sexo en el contrato de trabajo: la versión portuguesa de un reto comunitario

[ES] El primer capitulo es dedicado al tema de la igualdad sin discriminación por sexo en el contrato de trabajo, procurando analizarlo desde una perspectiva del derecho portugués bajo la influencia del derecho comunitario. Este capitulo realiza también un estudio dedicado al derecho comunitario sobre algunos puntos fundamentales de la igualdad de sexo en la esfera laboral, analizándose a la postre su impacto en el ordenamiento jurídico portugués. El segundo capítulo es dedicado a las acciones para la igualdad real. En este ámbito es crucial tener presente el concepto de igualdad formal y el reconocimiento que esta no es suficiente, por lo que importa hablarse de la igualdad material. Un de los principales instrumento para alcanzar la deseable igualdad real respecto a la discriminación positiva basada en una preferencia garantizada al sexo menos representado. En la continuación de este trabajo se decidió enfocar la protección de la trabajadora en la construcción de la igualdad real con especial atención con las repercusiones del embarazo y licencias, dispensas y faltas relacionadas con el apoyo a la familia bajo la perspectiva del derecho portugués y comunitario, optándose por desarrollárla en tres momentos distintos: antes de la celebración del contrato de trabajo, durante su ejecución y finalmente en el momento de su cesación. En la última parte de la tesis se analiza la igualdad en las prestaciones de la Seguridad Social, con especial enfoque sobre la prohibición de discriminación por razón de sexo en el derecho comunitario y, a la postre, un estudio sobre la prohibición de discriminación por razón de sexo en el derecho portugués donde se señala la importancia que el derecho de la seguridad social podrá contribuir para que la igualdad real entre hombres y mujeres pueda concretarse[EN] The first chapter is devoted to the issue of gender equality without discrimination in the employment contract, trying to analyze it from the perspective of Portuguese law under the influence of Community law. This chapter also studies dedicated to Community law on some fundamental points of gender equality in the workplace, ultimately analyzing its impact on the Portuguese legal system. The second chapter is devoted to actions for real equality. In this area is crucial to keep in mind the concept of formal equality and the recognition that this is not enough, what matters spoken of material equality. A major tool for achieving real equality desirable regarding affirmative guaranteed based on a preference for the underrepresented sex. In continuation of this work we decided to focus on the protection of the worker in the construction of real equality with particular attention to the impact of pregnancy and licenses, waivers and related family faults support under Portuguese law perspective and community, whichever develop in three stages: before the conclusion of the work, during its execution and finally at the time of its termination. In the last part of the thesis examines equality in Social Security benefits, with particular focus on the prohibition of sex discrimination in Community law and, ultimately, a study on the prohibition of discrimination sex Portuguese law which states the importance of the right to social security may contribute to real equality between men and women can take shap

User-centered design of a mobile storytelling application for older adults

Tese de mestrado integrado. Engenharia Informática e Computação. Universidade do Porto. Faculdade de Engenharia. 201