The transition to IFRS: disclosures by Portuguese listed companies

In the context of the CESR and of the Portuguese market regulator recommendations regarding the disclosure of the impacts of the transition to IFRS, this paper analyses the content of those disclosures by Portuguese listed companies. We found a high degree of variability among the disclosure either regarding the qualitative (narrative explanations of transition) or quantitative (reconciliations) disclosures. The results show that the objective of comparability, relevance and understandability stated in CESR’s recommendation were not achieved. Regarding accounting changes, the analysis shows that the reported impacts by companies confirmed expectations based on prior de jure studies on major impacts of changing from Portuguese GAAP to IFRS; these major impacts regard the recognition of intangibles, the accounting treatment of goodwill and financial instruments. Finally, Gray’s (1980) “conservatism” index was computed using the reconciliated profits to IFRS reported by companies. This analysis shows that Portuguese standards are more conservative than IFRS. This study is relevant to several parties: to the market regulators and policy makers in predicting the level of compliance with IFRS and calling attention for the importance of enforcement mechanisms; to the preparers, auditors and users in identifying the most problematic areas of implementation of IFRS.International Accounting, Disclosure, IAS/IFRS, Portugal

Analytical study of tunneling times in flat histogram Monte Carlo

We present a model for the dynamics in energy space of multicanonical simulation methods that lends itself to a rather complete analytic characterization. The dynamics is completely determined by the density of states. In the \pm J 2D spin glass the transitions between the ground state level and the first excited one control the long time dynamics. We are able to calculate the distribution of tunneling times and relate it to the equilibration time of a starting probability distribution. In this model, and possibly in any model in which entering and exiting regions with low density of states are the slowest processes in the simulations, tunneling time can be much larger (by a factor of O(N)) than the equilibration time of the probability distribution. We find that these features also hold for the energy projection of single spin flip dynamics.Comment: 7 pages, 4 figures, published in Europhysics Letters (2005

Effect of noise in open chaotic billiards

We investigate the effect of white-noise perturbations on chaotic trajectories in open billiards. We focus on the temporal decay of the survival probability for generic mixed-phase-space billiards. The survival probability has a total of five different decay regimes that prevail for different intermediate times. We combine new calculations and recent results on noise perturbed Hamiltonian systems to characterize the origin of these regimes, and to compute how the parameters scale with noise intensity and billiard openness. Numerical simulations in the annular billiard support and illustrate our results.Comment: To appear in "Chaos" special issue: "Statistical Mechanics and Billiard-Type Dynamical Systems"; 9 pages, 5 figure

Phase synchronization of coupled bursting neurons and the generalized Kuramoto model

Bursting neurons fire rapid sequences of action potential spikes followed by a quiescent period. The basic dynamical mechanism of bursting is the slow currents that modulate a fast spiking activity caused by rapid ionic currents. Minimal models of bursting neurons must include both effects. We considered one of these models and its relation with a generalized Kuramoto model, thanks to the definition of a geometrical phase for bursting and a corresponding frequency. We considered neuronal networks with different connection topologies and investigated the transition from a non-synchronized to a partially phase-synchronized state as the coupling strength is varied. The numerically determined critical coupling strength value for this transition to occur is compared with theoretical results valid for the generalized Kuramoto model.Comment: 31 pages, 5 figure

Effective transport barriers in nontwist systems

In fluids and plasmas with zonal flow reversed shear, a peculiar kind of transport barrier appears in the shearless region, one that is associated with a proper route of transition to chaos. These barriers have been identified in symplectic nontwist maps that model such zonal flows. We use the so-called standard nontwist map, a paradigmatic example of nontwist systems, to analyze the parameter dependence of the transport through a broken shearless barrier. On varying a proper control parameter, we identify the onset of structures with high stickiness that give rise to an effective barrier near the broken shearless curve. Moreover, we show how these stickiness structures, and the concomitant transport reduction in the shearless region, are determined by a homoclinic tangle of the remaining dominant twin island chains. We use the finite-time rotation number, a recently proposed diagnostic, to identify transport barriers that separate different regions of stickiness. The identified barriers are comparable to those obtained by using finite-time Lyapunov exponents.FAPESPCNPqCAPESMCT/CNEN (Rede Nacional de Fusao)Fundacao AraucariaUS Department of Energy DE-FG05-80ET-53088Physic

Quantificação da biomassa consumida nos últimos 20 anos de fogos florestais no Norte Portugal

A análise estatística relativa aos fogos florestais ocorridos, nos últimos 20 anos (1990-2009), em Por-tugal continental, mostra que ocorreram 22380 fogos, que consumiram 2 443 350ha. Analisando ape-nas a região Norte de Portugal (distritos da Guarda, de Viseu, do Porto, do Minho, de Vila Real e de Bragança), verificou-se que a tendência foi a mesma, com 15 339 ocorrências e 1 209 976ha ardidos. Com o objectivo de analisar a dinâmica da vegetação arbustiva, que coloniza as áreas ardidas, esta-beleceu-se um sistema de amostragem de campo, sobre as áreas ardidas nos últimos 10 anos, com-posto por 5 amostras por data. Em cada uma destas amostras, quantificou-se a biomassa arbustiva em pé e determinou-se o peso verde e o peso seco. Com estes dados, estabeleceu-se um sistema de equações que permitiu analisar a dinâmica vegetal das espécies arbustivas e quantificar a biomassa consumida pelos fogos. Os resultados mostram que, nos últimos 20 anos arderam, aproximadamente e só no Norte de Portu-gal, 749500ha de matos. Considerando um valor médio de 9 t/ha de biomassa (30% de humidade), estima-se que tenham ardido 6 745 500 toneladas de mato