Browsing by Issue Date, starting with "2023-06-27"
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- O regime de tributação das mais-valias imobiliárias : a harmonização negativa do tribunal de justiça da União EuropeiaPublication . Urbano, Matilde Teixeira da Rocha Morais; Tavares, Tomás Maria Cantista de CastroO presente trabalho tem por objeto a análise da Lei do Orçamento do Estado para 2023, no que toca à consagração do novo modelo de tributação aplicável às mais-valias imobiliárias obtidas por residentes, para efeitos fiscais, noutros Estados-Membros da União Europeia. Perante a realidade que temos vindo a assistir, pretendemos salientar a necessidade de articular as normas internas com a jurisprudência e as disposições fiscais comunitárias, em conformidade com os princípios e as exigências do Direito da União Europeia. Deste modo, procuraremos abordar os fundamentos da recente alteração legislativa, em sede de IRS, no regime de tributação das mais-valias imobiliárias e as respetivas repercussões no ordenamento jurídico português, no âmbito do atual contexto comunitário em que Portugal se insere.
- Knee flexion of saxophone players anticipates tonal context of musicPublication . Moura, Nádia; Vidal, Marc; Aguilera, Ana M.; Vilas-Boas, João Paulo; Serra, Sofia; Leman, MarcMusic performance requires high levels of motor control. Professional musicians use body movements not only to accomplish and help technical efficiency, but to shape expressive interpretation. Here, we recorded motion and audio data of twenty participants performing four musical fragments varying in the degree of technical difficulty to analyze how knee flexion is employed by expert saxophone players. Using a computational model of the auditory periphery, we extracted emergent acoustical properties of sound to inference critical cognitive patterns of music processing and relate them to motion data. Results showed that knee flexion is causally linked to tone expectations and correlated to rhythmical density, suggesting that this gesture is associated with expressive and facilitative purposes. Furthermore, when instructed to play immobile, participants tended to microflex (>1 Hz) more frequently compared to when playing expressively, possibly indicating a natural urge to move to the music. These results underline the robustness of body movement in musical performance, providing valuable insights for the understanding of communicative processes, and development of motor learning cues.
- Domestic expansion : consulting project with FIXOPublication . Aveiro, Francisco Vilar Almeida Moço; Xavier, RuteFIXO is a company that operates in Lisbon, and belongs to the Fidelidade group, that offers services at home (such as cleaning, repairs, …) where the client orders a service through an app, and FIXO sends a provider from its network to perform it. This dissertation analyses the expansion process of FIXO to Porto by collaborating with the company, having regular meetings as well as developing surveys and interviews to both customers and FIXO providers. Through these methods, there was an extensive collection of data on the operations of the company, the business model and the relevant stakeholders. With this information it was possible to explore the market and the competition, and any characteristic of the FIXO service that might have a relevant impact on the expansion to Porto while understanding the challenges and opportunities inherent to this expansion as well as any strategic or financial implications. Moreover, this dissertation tackles the expansion plan and explores how FIXO can maintain quality providers. Through the analysis of the characteristics previously explained, it was possible to understand that the expansion to Porto is feasible and FIXO can maximize its success by leveraging its current capabilities on customer acquisition and not deviating from the selected criteria on gathering providers. Several KPIs and timings were found to ensure the quality of providers. Finally, this research found that this move may bring a growth in clients and brand recognition, and it may pose an opportunity to build customer loyalty.
- Does green sentiment really exist?Publication . Gomes, Pedro Jorge Vilela; David, ThomasI set out to explore if market-wide investor sentiment, as defined by (Baker & Wurgler, 2006) can be used as a partial explanation for green sentiment. Recent literature concludes that investors have a preference for greener investments when there is heightened attention to climate change topics, and that this has been one of the main drivers of the outperformance of greener stocks in recent years. I find that green sentiment, as proxied through Google search volume and media intensity, has a significant and positive correlation with investor sentiment. I also find that when controlled for investor sentiment, the contribution of green sentiment towards the outperformance of greener stocks is reduced. This means that market-wide sentiment serves as a partial explanation to green sentiment and the outperformance of greener stocks. However, it does not completely exclude the existence of the former.
- The future of luxury : how new luxury consumers are changing the marketing strategies of luxury fashion brands in the 21st centuryPublication . Marxen, Malin Louisa; Kastanakis, MinasThe rise in younger consumers due to the increase in spending power of Millennials, Generation Z, and Alpha has caused a shift in the luxury fashion industry. This research aims to investigate how luxury fashion brands can adapt their marketing strategies to successfully market to the new luxury consumer without losing the notion of exclusivity and luxury. Qualitative research, in the form of 5 interviews with marketing managers from luxury fashion brands (Gucci, Givenchy, Cartier, Ripa Ripa, and Zegna), was conducted to understand what is currently being done by main players in the industry, and what further steps might need to be taken. The findings suggest that luxury fashion brands must implement innovative solutions in the areas of sustainability, digitalization, and the customer retail experience in order to cater to the needs of new luxury consumers that were identified. Those needs included a strong desire for authentic sustainability and corporate responsibility, strong values and storytelling, as well as different product needs catered to their lifestyles and preferences. Additionally, it covers different strategic moves that brands can undertake to manage the luxury paradox, such as increasing prices, niche targeting and selective distribution.
- The challenge of corporate digital responsibility : an analysis of key elements for CDR implementationPublication . Angermann, Niklas Philip; Bohnsack, RenéThe strategic implementation of Corporate Digital Responsibility (CDR) can be the key to leveraging digital technologies and creating value for all stakeholders while minimizing their negative impacts. Digital technologies are indispensable, but they also pose risks if implemented incorrectly, such as the unethical use of AI or high energy consumption. An exploratory sequential, mixed methods approach is used to analyze the challenges and key elements of CDR implementation. The combination of pre-filled company surveys and subsequent semi-structured interviews resulted in exploratory findings on this emerging topic. Many companies are partially implementing CDR, but mostly unintentionally and without realizing its full potential. Furthermore, overall awareness of CDR is very low, leading to challenges in implementing CDR, such as a lack of guidance and structure. Based on this, several key elements were identified, starting with a holistic view of the economic, social, environmental and technological factors of CDR, which must be integrated into the core strategy. CDR must also be communicated transparently and comprehensively to all stakeholders and go beyond compliance. Moreover, in the fast-changing environment of digital innovation, it is important to anticipate consequences and constantly adapt the strategy. CSR serves as a foundation for CDR implementation due to similar goals, but CDR expands the scope and is the next major strategic shift for companies.
- Using blockchain to create and capture value in the energy sectorPublication . Costa, Gonçalo de Andrade Santos Lopes da; Bohnsack, RéneThe undergoing digital transition of the energy sector refers to the integration of decentralized ledger technologies and data-driven solutions that have the potential to truly revolutionize its ecosystem and business practices. The aim of a decentralized, inter connected and two-way interactive energy grid can be enabled by leveraging blockchain technologies. This research investigates how blockchain technology can create and capture value from data and the new business models applied in Web 3.0 and blockchain-based environments in the energy sector. A qualitative case study research design was conducted for primary data collection and pilot projects by the European Commission were used for secondary data collection. The analysis shows local energy communities as the main blockchain application in this sector, with adjacent applications such as P2P energy trading, smart contract & metering, carbon trading and grid management. The main benefits associated are transparency, integrity, grid automation and renewable energy sources promotion, and obstacles are mainly associated with the contrasting centralized design of the current energy systems. We conclude that value is created and captured through data provenance and transparency, data monetization and tokenization, and data sharing and collaboration in blockchain platforms. New business models include the decentralization and fusion between energy production and consumption, generating a new actor known as the prosumer. Fundamental to a successful implementation of local energy communities that allow energy and asset trading between peers.
- Effects of economic policy uncertainty on M&A deals : macroeconomic example of the US MarketPublication . Bauernfeind, Hannah Vera; Cerqueiro, GeraldoThe aim of this thesis is to investigate the relationship between economic policy uncertainty (EPU) and merger and acquisition (M&A) deal characteristics. At first, the relationship between EPU and the likelihood of deal withdrawal among national M&A deals in the US market is studied. Secondly, this thesis intends to investigate the effects of EPU on the deal premium paid for the target company. Thirdly, this thesis aims to study the effects of EPU on the acquiring company’s performance – namely the acquiring company’s cumulative abnormal returns surrounding the deal announcement day. For further perception, three uncertainty indicators – monetary policy uncertainty (MPU), market volatility (VIX) and financial stress (FSI) – are included in the study likewise. The study has found a significant negative effect on the likelihood of a deal withdrawal in times of high economic policy uncertainty. Next to this, high EPU showed to have a positive effect on the acquiring company’s cumulative abnormal returns. No significant effect of EPU on the deal premium paid by the acquiring company was found, however, market volatility and financial stress show significant results to some extent, indicating deal premiums paid in the M&A process are indeed sensitive to market uncertainty but EPU is outperformed as an indicator.
- Reflexão sobre a problemática do debt-equity bias : a proposta DEBRAPublication . Carvalho, Ana Catarina Costa; Alves, Filipe Domingues CerqueiraA nossa dissertação propõe-se a explorar o problema da distorção, a nível fiscal, entre os rendimentos provenientes de dívida e de capitais próprios. A esse respeito debruçar-nos-emos sobre a recente proposta de Diretiva do Conselho Europeu, denominada de DEBRA, apresentada a 11 de maio de 2022. Com vista a estimular o financiamento das empresas com recurso a capitais próprios, a proposta de Diretiva estabelece um conjunto de regras relativas a uma dedução em matéria de capitais próprios e quanto à limitação da dedutibilidade dos juros para efeitos do imposto sobre o rendimento das sociedades. De modo a levar a cabo essa análise, começaremos por refletir sobre as diferenças de tratamento, a nível societário, que opõem ambas as formas de financiamento, o rationale por detrás dessa diferenciação, e ainda, o recurso à subcapitalização como forma de planeamento fiscal. De seguida, abordaremos as consequências desse tratamento desigualitário entre rendimentos e apontaremos quais as soluções, que têm sido endereçadas, a esse problema. Por último, refletiremos sobre vários aspetos, que compõem a proposta DEBRA, sinalizando incongruências e pontos de melhoria.
- Percurso em direção à segurança e melhoria contínua da intervenção especializada à pessoa em situação críticaPublication . Teixeira, Ciro Miguel Brandão; Penaforte, Maria Helena de OliveiraO presente relatório surge no âmbito da conclusão do 15º Curso de Mestrado em Enfermagem com Especialização em Enfermagem Médico-Cirúrgica, na área de Enfermagem à Pessoa em Situação Crítica, do Instituto de Ciências da Saúde (Porto) da Universidade Católica Portuguesa. Evidencia os principais contributos dos estágios realizados no âmbito da Unidade Curricular “Estágio Final e Relatório”, para a aquisição de competências de mestre e de competências comuns e específicas do Enfermeiro Especialista em Enfermagem Médico-Cirúrgica, na área de Enfermagem à Pessoa em Situação Crítica. Os estágios foram desenvolvidos num Serviço de Medicina Intensiva e numa Unidade de Hemodiálise, nos períodos compreendidos entre 5/09/2022 a 26/10/2022 e 27/10/2022 a 17/12/2022 respetivamente. Tem como principais objetivos o enquadramento da segurança como um conceito norteador da prática de enfermagem especializada, a descrição das atividades desenvolvidas e previstas em projeto de estágio, a reflexão sobre as atividades realizadas nos estágios, confrontando as com as normas que regulamentam as boas práticas e a evidência científica, e a análise do impacto das medidas na prática clínica e na autoaprendizagem. Para a sua conceção, este relatório serviu-se das metodologias descritiva e crítico-reflexiva sobre atividades desenvolvidas. Estruturalmente encontra-se dividido em seis capítulos principais. No primeiro capítulo figura a introdução, que apresenta o enquadramento da Unidade Curricular no curso, a contextualização dos campos de estágio e respetiva fundamentação para a sua seleção, a descrição dos objetivos do relatório e dos métodos utilizados para a sua consecução. O segundo capítulo expõe um enquadramento teórico sobre os conceitos de qualidade e segurança, relacionando-os com a intervenção de enfermagem especializada. O terceiro capítulo contempla uma breve caracterização dos dois serviços hospitalares onde os estágios foram desenvolvidos. O quarto capítulo descreve o processo de desenvolvimento de competências comuns do enfermeiro especialista preconizado pela Ordem dos Enfermeiros, numa ótica da promoção da melhoria contínua dos cuidados através da garantia de ambientes de prática seguros. O quinto capítulo explora o caminho percorrido para a aquisição de competências específicas do Enfermeiro especialista em Enfermagem Médico-Cirúrgica, na área de enfermagem à Pessoa em Situação Crítica, de acordo com o respetivo regulamento emanado pela Ordem dos Enfermeiros, com reflexão sobre o papel fundamental que este profissional tem para a salvaguarda da segurança da pessoa cuidada em contexto emergente. Por último, no sexto capítulo encontra-se a conclusão, que evidencia o crescimento profissional de acordo com os objetivos atingidos, as competências desenvolvidas e o impacto alcançado como futuro enfermeiro especialista.