Os administradores não executivos das empresas cotadas na Euronext Lisbon : uma abordagem empírica

Mestrado em Contabilidade, Fiscalidade e Finanças EmpresariaisSendo os escândalos financeiros e as falências empresariais uma realidade cada vez mais frequente na nossa sociedade, o papel desempenhado pelos administradores não executivos nos Conselhos de Administração das empresas torna-se ainda mais importante para a resolução desta problemática, uma vez que estes procuram o alinhamento de interesses entre os accionistas e os gestores. Pretende-se com este estudo identificar quais os factores que determinam o grau de representação dos administradores não executivos no Conselho de Administração das empresas cotadas na Euronext Lisbon e analisar o impacto que a sua presença tem na remuneração dos administradores e no desempenho da empresa. Para tal, recolheu-se um conjunto de dados sobre o funcionamento destas empresas num período de quatro anos. Os nossos resultados sugerem que a dualidade do CEO e a adesão ao PSI20 reduzem a percentagem de não executivos presente nos Conselhos de Administração enquanto a dimensão do Conselho tem um efeito positivo. Constatamos, ainda, que estes administradores não estão a cumprir o seu papel de controlo no que diz respeito à política remuneratória e ao desempenho da empresa.Being the financial scandals and corporate bankruptcies an increasingly common reality in our society, the role played by non-executive directors on companies Boards is becoming more critical for the resolution of this problem, since they aim to align the interests between shareholders and managers. This study intends to identify which factors settle the representation degree of non¬executive directors on the Board of Directors of companies listed on Euronext Lisbon and analyze the impact of their presence has on directors compensation and in firm performance. In order to achieve this, we gathered a set of data about these companies functioning for a period of four years. Our results suggest that the CEO duality and adherence to PSI20 reduce the percentage of non-executives on the Boards while the size of the Board has a positive effect. Finally, we observe that these managers are not fulfilling its controlling role with regard to remuneration policy and firm performance

Characterisation of microbial attack on archaeological bone

As part of an EU funded project to investigate the factors influencing bone preservation in the archaeological record, more than 250 bones from 41 archaeological sites in five countries spanning four climatic regions were studied for diagenetic alteration. Sites were selected to cover a range of environmental conditions and archaeological contexts. Microscopic and physical (mercury intrusion porosimetry) analyses of these bones revealed that the majority (68%) had suffered microbial attack. Furthermore, significant differences were found between animal and human bone in both the state of preservation and the type of microbial attack present. These differences in preservation might result from differences in early taphonomy of the bones. © 2003 Elsevier Science Ltd. All rights reserved