Browsing by Issue Date, starting with "2020-05-25"
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- A mobilidade transfronteiriça das sociedades comerciais na União Europeia : breve antologia de uma odisseiaPublication . Vieira, Rui Frederico Almeida Santos Pinho; Antunes, José Augusto Quelhas Lima EngráciaA mobilidade transfronteiriça das sociedades é fundamental para o desenvolvimento do mercado único e representa um importante corolário da liberdade de estabelecimento. Para o efeito, é decisivo suplantar os entraves ao comércio transfronteiriço, procurando o justo balanço entre a promoção da concorrência e competitividades dos operadores económicos e a proteção de diversas partes interessadas, nomeadamente sócios (minoritários), credores e trabalhadores. O presente trabalho tem com objetivo analisar o estado da arte à luz do direito primário e derivado da União Europeia, bem como de acordo com a vasta jurisprudência do Tribunal de Justiça. Partindo de uma abordagem empírica, procuramos demonstrar que o principal entrave à mobilidade transfronteiriça das sociedades reside na disparidade das regras de conflitos espalhadas pelos Estados-Membros, pelo que propomos uma revisão do paradigma da neutralidade conflitual, mediante uma intervenção legislativa de harmonização por via de regulamento.
- Relatório de estágioPublication . Ribeiro, Cátia Andreia Pena; Quelhas, IsabelO vigente ‘Relatório de Estágio’ encontra-se enquadrado na Unidade Curricular ‘Estágio Final e Relatório’, do 12º Curso de Mestrado em Enfermagem, com especialização em Enfermagem de Saúde Infantil e Pediátrica, do Instituto de Ciências da Saúde, da Universidade Católica Portuguesa, representando um total de 750 horas de trabalho, das quais 540 horas de prestação direta de cuidados e 210 horas de trabalho individual. No desenvolvimento do documento são destacadas, inicialmente, as competências no âmbito da Enfermagem de Saúde Infantil e Pediátrica, adquiridas através da experiência profissional prévia, dado que não podem ser desconsideradas no processo formativo. Seguidamente são apresentadas as competências adquiridas em contexto de estágio, reunidas em quatro domínios de atuação, a Prestação de Cuidados, a Gestão de Cuidados, a Formação e a Investigação em Enfermagem. A referida organização possibilitou o enfoque nos objetivos delineados e nas consequentes atividades concebidas em três contextos assistenciais, no Serviço de Urgência Pediátrica, na Unidade de Neonatologia e em Cuidados de SaúdePrimários, este dividido entre a Unidade de Cuidados Continuados e a Unidade de SaúdeFamiliar. Consequentemente impôs-se uma descrição e análise das atividades planeadas e concretizadas, mobilizando e integrando os conhecimentos adquiridos no percurso profissional, aliada à pesquisa bibliográfica, com o propósito de demonstrar as competências alcançadas nas diferentes áreas de atuação, designadamente na vigilância em saúde, na parentalidade, nos cuidados centrados no desenvolvimento, entre outras. Uma vez adquiridas as competências, importou refletir nas suas implicações na atual e futura prática profissional. O relatório evidencia o percurso académico que permitiu a aquisição de competências especializadas e de mestre na área da Enfermagem de Saúde Infantil e Pediátrica e de como este contribui para a melhoria da qualidade dos cuidados.
- Equity Valuation : LVMH Moet Hennessy : Louis Vuitton SEPublication . Oliveira, Miguel Robbins Salazar; Martins, José Carlos TudelaThe author’s goal with the present dissertation is to provide an informed investment recommendation about LVMH Moët Hennessy Louis Vuitton SE (“LVMH”) stock, based on its 2020 year-end estimated value. LVMH is a gigantic French luxury goods conglomerate that consists of multiple businesses, with different risks, growth and cash flow profiles. Consequently, each business segment is valued separately (disaggregated valuation), as if they were standalone companies, and then added up together to derive the group’s value. Each business segments’ value is estimated using two distinct valuation methodologies, i.e., a WACC-based DCF and a relative valuation model. In the end, the results obtained are discussed and framed with other analysts’ opinions, through their comparison with an equity research on LVMH, published by Goldman Sachs. The results of this dissertation set a 12-month price target of €400 for LVMH stock, which considering the current economic uncertainty, supports a hold recommendation.
- Understanding recycling intentions : the impact of deposit-return schemesPublication . Alcouce, Marta Marinho Peres; Romeiro, Paulo Alexandre Mendes RamosAs the pressure that individuals exert on the environment is growing, there is an urgent need for action to revert the damage. Waste management is paramount for the ecosystem’s preservation and recycling represents a step towards the solution. With Portugal falling behind on the packaging waste targets defined by the European Union, there is a critical need to take additional measures to incentivize individuals to recycle. This dissertation aims at identifying the main factors that propel individuals’ recycling intentions and understand if Deposit-Return Schemes represent the needed incentive to increase them. Thereafter, to assess recycling intentions, this study applies the Theory of Planned Behavior enriched with contributions from the Model of Altruistic Behavior. The data collection method employed consisted of an online questionnaire where respondents were exposed to one of two recycling systems: The Deposit-Return Scheme and the Current Recycling System. The results obtained showed that individuals’ intention to recycle is lower through the Deposit-Return Scheme than through the Current Recycling System. This outcome is strongly impacted by the perceived inconvenience and difficulty of going throw with this new procedure. Findings also confirmed the literature that the decision of individuals to recycle is founded on the belief that is the right thing to do for the collective, and not on a conscious evaluation of the personal costs and benefits involved.
- A pessoa humana e sua(s) circunstância(s) : bondade perante a diferençaPublication . Sousa, Clara Maria Oliveira de; Varanda, Maria Isabel PereiraA interpretação da bondade na linguagem comum parte, muitas vezes, de todas as ações que possam produzir um efeito benéfico através da abertura e da responsabilidade para com o Outro, recebendo o qualificativo de “bom”. Sob o ponto de vista cristão, a bondade é um atributo divino e, sem ela, nenhum(a) cristão(ã) pode realmente exercer eficazmente o seu ministério. Ela é o fundamento da própria fé e esperança que percorre desde os primórdios da criação, ato exacerbado da bondade de Deus, primeira e principal causa, perpassando pelos momentos mais grandiosos da história de Israel até ao mais alto grau, a redenção que custou o sangue do Seu Filho. Neste intento, leva-se a cabo um estudo que pretende, por um lado, construir uma proposta de investigação da conceção de bondade a partir da revisão da literatura efetuada, tendo como mote, um percurso de vida, na primeira pessoa, com manifesta disfluência verbal, e, por outro, estabelecer a sua prática para um desenvolvimento equilibrado de todas as dimensões da pessoa humana. A partir do enquadramento configurado, é apresentada uma proposta de lecionação da Unidade Letiva (UL) “Ter um Coração Bondoso” do Programa de Educação Moral e Religiosa Católica (EMRC) do 1.º ano de escolaridade, no contexto da Prática de Ensino Supervisionada (PES), em consonância com os valores educativos e cristãos desta disciplina, no espaço de uma integral educação cristã, para tornar a sociedade mais bela, mais bondosa e mais justa.
- A união de facto nos direitos brasileiro e português : a proteção do convivente sobrevivoPublication . Silveira, Rene Marak; Xavier, Maria Rita Aranha da Gama LoboA presente dissertação de mestrado, realizada na Universidade Católica Portuguesa do Porto, tem por objetivo fazer um estudo comparado dos direitos sucessórios dos conviventes nas legislações brasileira e portuguesa, bem como trazer um panorama geral do aspeto histórico da união convivencial nos dois países. Apresenta-se o conceito e aspetos jurídicos da união estável no Brasil e da união de facto em Portugal, faz-se um paralelo entre os referidos institutos e o casamento, sendo também objeto deste trabalho a análise quanto à proteção do convivente sobrevivo, e também no que se refere à proteção da casa de morada no campo da sucessão mortis causa. Também foi discutida a questão da equiparação entre casamento e união estável para fins de sucessão no ordenamento jurídico brasileiro, demonstrando o entendimento da jurisprudência, bem como o posicionamento da doutrina sobre o tema.
- The effect of financial distress on earnings management : an italian case studyPublication . Zanini, Matteo; Reis, Ricardo César Ribeiro Ventura FerreiraThe present study empirically investigates the relationship between financial distress and earnings management with reference to selected Italian companies, focusing on publicly listed, medium-size entities. Our sample consists of 38 firms, who were polled during the recession period, and afterwards from 2007 to 2017. Our study used discretionary accruals (DA) as a proxy for earnings management, and the cross-sectional modified Jones model has been applied for the estimate thereof. Altman’s Z-score was selected as the measure for financial distress. The study further considers the association between firms in financial distress and earning management changes during the recent global financial crisis. Through a multiple regression analysis, our study finds that highly distressed firms are more likely to engage in earnings management practices that financially sounder counterparts. Size is found to have a significant positive relationship with earnings management, implying that bigger firms are more inclined to accounting manipulation through DA. Profitability, on the other hand, showed negative correlation. The study found evidence of the effect of the financial crisis on this relationship between earnings management and financial distress, showing that distressed firms engage in income-increasing earnings management activities much more extensively during periods of financial crisis. The findings of the study have important implications for investors who want to make better investment decisions, as well as regulators, who are responsible for monitoring financial reporting quality.
- Understanding membership programs effectiveness : the impact of perceived value, hard and soft benefits on the consumers’ purchase intentionPublication . Carrasco, Marta Carapinha; Romeiro, Paulo Alexandre Mendes RamosCompanies that have been using memberships have increased sales from millions to billions. Membership programs enhance customer retention, providing excluding benefits to members. This allows to increase the yield of the most profitable customers through long-term and interactive, value-added relationships. Moreover, it has been proofed that customer retention leads to long-term financial performance, as a result of reducing costs, less price sensitivity and increasing the average ticket. However, there is a high percentage of churn and the effectiveness of these programs can be hard to achieve. Nevertheless, what if companies could understand which benefits, they need to offer to achieve successful membership programs? This research aims to answer four research questions that contribute to the understanding of which benefits lead to membership program effectiveness and their weight on consumers' purchase intention by introducing: soft benefits, hard benefits, and perceived value. Accordingly, three research procedures were carried out: Pre-Survey, Focus Groups, and Survey. This rational path allowed the application of different techniques to test the hypotheses. Findings show that these three elements influence positively the purchase intention of membership programs. Moreover, it presents status and gratitude as essential keys of soft benefits and perceive value as a crucial element on affecting consumers’ willingness to buy. Yet, it demonstrates that low price is highly effective and prevail versus soft benefits. That said, this paper recommends managers to invest in membership programs pricing strategies and academics to further explore this topic.
- Digital transformation in the german sports broadcasting industry : a qualitative study on the impact of the disruptor OTTPublication . Hannich, Theresa; Pinho, André de AlmeidaThe study investigates the impact of the OTT (over-the-top) technology for the German sports broadcasting industry. For this purpose of the study, OTT is defined as streaming technology that bypasses traditional distribution and offers content directly over the Internet anywhere at any time. All potential OTT initiatives from different stakeholders that impact the industry are examined. The incumbent technology, traditional TV, is challenged by innovative business models that provide sports content over-the-top via the Internet. Pure OTT channels such as DAZN and digital giants such as Amazon entered the sports rights market forcing old leaders to rethink their business model and to adapt to the new technology. Besides of changing consumer requirements, different market dynamics such as the digitization of sports rights, the trend towards D2C (direct-to-consumer), niche targeting and features around digital fan experiences push OTT in becoming the leading sports consumption technology. The fast-paced and vibrant market movements in the sports media industry make estimations difficult. The findings from qualitative and quantitative findings identified the consolidation of the market to a concentrated number of content aggregators operating in the premium sports right segment as most the likely scenario for the industry in 5-10 years. This trend goes along with a starting content endgame initiated by top rightsholders who implement D2C business models for secondary markets. The major change in the market will be the end of market fragmentation to a more consolidated sports rights market led by major D2C and OTT platforms.
- Critical factors across stages of development in european markets : luxury skincare industryPublication . Forte, Ana Raquel Nunes; Pinho, André de AlmeidaThe skincare industry had been facing a worldwide trend which generated an impact on the consumption of Luxury skincare. In developed markets, the prestige skincare industry stabilized and matured throughout the years, nevertheless, in less developed markets the industry continued to be underdeveloped, which led to considerably lower performance outcomes. This study examined the luxury skincare industry across three markets in different stages of development: developed markets, emerging markets and frontier markets. The analysis focused on three central perspectives that should be taken into account when doing business: the market factors, the consumption patterns and the cultural factors, specific to each stage of development. The results demonstrated that, in fact, different market types demand different necessities, entailing different critical factors which, therefore, led to the conclusion that the three markets shouldn’t be equally approached, additionally, at the end of the day, luxury skincare companies need to learn how to behave in order to better understand the specificities of the markets they are operating in.