The success factors for SMEs: Empirical evidence

This paper empirically analyzes the success factors for SMEs. Particularly, the paper intends to analyze if firm age, human resource costs, debt, venture capital funding, investment in innovation and productivity are success factors for SMEs. The effects were tested using static and dynamic panel data, on a data set of 200 Portuguese SMEs. The use of dynamic panel data is important in order to control for: endogeneity; time-invariant characteristics; possible collinearity between independent variables; effects from possible omission of independent variables; elimination of non-observable individual effects; and, the correct estimation of the relationship between the dependent variable in the previous and current periods. Our results reveal a positive impact on success of: human resource costs; investments in innovation; productivity; and, venture capital funding. We also confirm the negative impact of firm age and debt. Also, the results show evidence of persistence in success for the case of one of the success proxies used

The model to measure the management performance of social enterprises - the case of cozinha com alma

Many social enterprises find difficult to measure and demonstrate their key performance indicators due to the lack of technical expertise or appropriate financial and human resources. Social enterprises have an additional difficulty by having to measure intangible indicators such as the social impact that their activity can generate. This Work Project clarifies the process that a social enterprise should approach to create a management performance tool using a balanced scorecard in order to inform how it creates impact. The model was applied to Cozinha Com Alma identifying the main indicators in order to be implemented by the organization

The performance of socially responsible mutual funds: the role of fees and management companies

In this paper, we shed light on the debate about the financial performance of socially responsible investment (SRI) mutual funds by separately analyzing the contributions of before-fee performance and fees to SRI funds' performance and by investigating the role played by fund management companies in the determination of those variables. We apply the matching estimator methodology to obtain our results and find that in the period 1997-2005, US SRI funds had significantly higher fees and better before- and after-fee performance than conventional funds with similar characteristics. Differences, however, were driven exclusively by SRI funds run by management companies specialized in socially responsible investment

Correlativity in the Non-Identity Problem

UID/FIL/00183/2013 IF/01587/2015This paper aims at answering some of the objections to the NIP’s criticism of the idea of rights of future persons. Those objections usually adopt different perspectives depending on how they understand differently the nature of the correlativity between rights and duties – some adopt a present-rights-of-future-persons view, others a future-rights-of-future-persons view, others a transitive present-rights-of-present-persons view, and others still an eternalist view of rights and persons. The paper will try to show that only a non-transitive present-rights-of-present-persons view can survive the challenges posed by the notion of correlativity inherent in the NIP, and thus preserve rights language when discussing the future. This view is proved also more suitable for the legal and political realms, where policies and law-making are usually more concerned with present addressees and short term effects.authorsversionpublishe

Avaliação temporal dos componentes cardíacos do Danio rerio

Dissertação (mestrado)—Universidade de Brasília, Faculdade de Agronomia e Medicina Veterinária, 2015.O Danio rerio é amplamente utilizado em estudos relacionados ao coração e por isso torna-se importante o conhecimento a respeito da morfologia desse órgão nestes peixes. Este estudo teve como objetivo avaliar as densidades numérica e volumétrica de cardiomiócitos (Nv(c) e Vv(c), respectivamente), densidade volumétrica de interstício(Vv(i)), além das quantidades e distribuições de tecido conjuntivo e vasos no miocárdio em diferentes idades. Para isto, foram analisados 65 peixes, machos e fêmeas, com idades entre 12-18 meses, durante treze semanas. Houve a partir da semana VIII uma diminuição significativa na densidade numérica de cardiomiócitos e na quantidade de vasos, com aumento na quantidade de tecido conjuntivo, além de um aumento significativo na densidade volumétrica de interstício entre as duas primeiras e duas últimas semanas. Comparando os animais da semana I com os da semana XIII, observou-se uma diminuição significativa de 20,7% na densidade numérica de cardiomiócitos e de 13,6% nos vasos, enquanto ocorreu um aumento significativo no conjuntivo de 17,8% e 12% na densidade volumétrica de interstício. Foi verificado que ao longo da idade estudada que não houve alteração significativa na densidade volumétrica de cardiomiócitos. Os resultados deste estudo proporcionam a descrição de componentes do coração do Danio rerio ao longo do tempo, estabelecendo parâmetros quantitativos que podem auxiliar no entendimento dos mecanismos morfofuncionais atuantes nesse órgão.The zebrafish is widely used in studies related to the heart and therefore becomes important to know about the morphology of this organ in this fish. This study aimed to evaluate the numerical and volumetric densities of cardiomyocytes (Nv(c) and Vv(c), respectively), the volumetric density of interstitium (Vv(i)), besides of amounts and distribution of connective tissue and vessels in the myocardium at different ages. Sixty five fishes, males and females, aged 12-18 months were analyzed for thirteen weeks. There was a significant decrease in the numerical density of cardiomyocytes and vessels, with increased amount of connective tissue from week VIII, and a significant increase in volume density of interstitium between the first two and last two weeks. Comparing the animals of week I with the week XIII, there was a significant decrease of 20.7% in the numerical density of cardiomyocytes and 13.6% in the vessels, whereas there was a significant increase of 17.8% in connective tissue and 12% in volume density of interstitium. It was verified that throughout studied age no significant change in the volume density of cardiomyocytes. The results of this study provide a description of the components of the Danio rerio heart establishing quantitative parameters that can help understand the morphological and functional mechanisms that operate in this organ

Symbolic Computation of Variational Symmetries in Optimal Control

We use a computer algebra system to compute, in an efficient way, optimal control variational symmetries up to a gauge term. The symmetries are then used to obtain families of Noether's first integrals, possibly in the presence of nonconservative external forces. As an application, we obtain eight independent first integrals for the sub-Riemannian nilpotent problem (2,3,5,8).Comment: Presented at the 4th Junior European Meeting on "Control and Optimization", Bialystok Technical University, Bialystok, Poland, 11-14 September 2005. Accepted (24-Feb-2006) to Control & Cybernetic

Novel insights into dissimilatory sulfite reduction

Life on Earth is extremely diverse, as organisms had to adapt to a panoply of different environmental niches. There are several mechanisms by which organisms grow in the absence of oxygen, one of which is the dissimilatory reduction of sulfate to sulfide, performed by sulfate reducing prokaryotes (SRP). This is thought to be one of the most ancient biological metabolisms to have developed on earth. In SRP sulfate is first imported to the cytoplasm where it is activated by Sulfate adenylyl transferase to adenosine 5′-phosphosulfate (APS) in an ATP consuming process. After, the adenylyl-sulfate reductase is the enzyme responsible for the reduction of APS to sulfite.(...

Who wants to cross borders in the EU for health care?: an analysis of the Eurobarometer data in 2007 and 2014

ABSTRACT - BACKGROUND The EU Directive on cross-border healthcare clarified the entitlements of EU citizens to medical care in other EU Member states. However, little is known about whether EU citizens have been travelling or are willing to travel to receive medical care. The aim of this study was to measure the determinants of cross-border patient mobility and willingness to travel to receive medical care in the EU, before and after the adoption of the Directive. METHODS We used individual data from the Eurobarometer 210 (2007) and 425 (2014). In the two years, 54,384 EU citizens were randomly selected for telephone and face-to-face interviews. We performed a logistic regression on the cross-border patient mobility and willingness to travel to other EU countries to use healthcare services as a function of the year (2007 or 2014), adjusting for age, gender, education, self perceived health (SPH), and country size. RESULTS In 2007, 3.3% of citizens reported cross-border mobility, and 4.6% in 2014. The odds of cross-border patients’ mobility was 15% higher in 2014, compared to 2007 (OR 1.15, 95%CI 1.05-1.26, p<.001). In addition, mobility was 15% higher in males (OR 1.15, 95%CI 1.05-1.3, p<0.001) and 20% amongst the more educated (OR 1.2, 95%CI 1.1- 1.3, p<.001). However, the odds decreased with age (OR 0.9 per decade, 95%CI 0.84- 0.92, p<.001), bad and very bad SPH, and country size. In 2014 the willingness to travel decreased by 22% compared to 2007. The other determinants of willingness to travel, namely gender, age, education, SHP, and country size, had a similar effect as in the cross-border mobility model. CONCLUSIONS Cross-border patient mobility and willingness to travel are more likely amongst younger, more educated, and healthier patients from smaller countries. The 2011 directive does not seem to have promoted mobility at a large scale among the neediest citizens.RESUMO - INTRODUÇÃO A diretiva da União Europeia (UE) referente ao exercício dos direitos dos pacientes em cuidados de saúde transfronteiriços clarificou os direitos dos cidadãos da UE. No entanto, pouco se sabe sobre a mobilidade transfronteiriça dos pacientes e a vontade de viajar para receber cuidados médicos. Desse modo, pretendemos estudar os determinantes da mobilidade transfronteiriça dos pacientes e a vontade de viajar para receber cuidados médicos na UE, especialmente após a adoção da diretiva. MÉTODOS Utilizamos dados do Eurobarómetro 210 (2007) e 425 (2014). Nos dois anos 54.384 cidadãos da UE foram selecionados aleatoriamente para entrevistas telefónicas e pessoalmente. Aplicámos uma regressão logística à mobilidade transfronteiriça dos pacientes e a vontade de viajar para usar os serviços de saúde noutros países da EU em função do ano (2007 ou 2014), idade, sexo, educação, saúde auto-reportada e tamanho do país. RESULTADOS Em 2007, 3,3% dos cidadãos relataram mobilidade transfronteiriça aumentando para 4,6% em 2014. A probabilidade de mobilidade transfronteiriça dos pacientes foi 15% maior em 2014, em comparação com 2007 (OR 1,15, IC 95% 1,05-1,26, p <.001). Além disso, a mobilidade foi 15% maior em homens (OR 1,15, IC 95% 1,05-1,3, p <0,001) e 20% em níveis mais elevados de educação (OR 1,2, 95% CI 1.1-1,3, p <0,001). No entanto, a probabilidade diminuí com a idade (OR 0,9 por década, IC 95% 0,84-0,92, p <0,001), má e muito má saúde auto-reportada e tamanho do país. Por outro lado, em 2014, a vontade de viajar diminuiu 22% em relação a 2007. Os outros determinantes da vontade de viajar, sexo, idade, educação, saúde auto-reportada e tamanho do país tiveram um efeito semelhante ao do modelo da mobilidade. CONCLUSÕES Entre 2007 e 2014, houve um ligeiro aumento da mobilidade transfronteiriça dos pacientes, que é, no entanto ainda baixo. A mobilidade transfronteiriça dos pacientes e a vontade de viajar são mais prováveis entre os pacientes mais jovens, mais educados, mais saudáveis, e de países mais pequenos. A diretiva de 2011 não parece ter promovido a mobilidade em grande escala entre os cidadãos mais necessitados