...Competitive conditions among the major Portuguese banks Abstract Following entry into the European Community (EC) in 1986, Portugal transformed rapidly its repressed banking system with deregulation, the opening of borders, the granting of new banking licenses, and privatisation. In a more integrated banking system, one would expect a higher level of competition. This paper reports an empirical assessment of the competitive condition among the major Portuguese banks. Using Rosse-Panzar methodology H-statistic for are reported for the panel data of 17 banks for the period 2007-2012. Introduction Following entry into the European Community (EC) in 1986, Portugal’s’ entry into the EC in 1986 transformed the then depressed banking system, a combination of deregulation, opening of new borders, new banking licenses, and privatisation. This paper reports an empirical assessment of the competitive condition among the major Portuguese banks. Using Rosse-Panzar methodology The present paper is structured as follows. Section 2, an historic perspective of Portuguese banking is summarized briefly. In Section 3, the sample of banks with data on inputs and outputs is presented. The sample retained for the study covers more than ninety percent of the industry. In Section 4, Rosse-Panzar methodology used to evaluate competitive condition is reviewed. Portuguese banks The backbone of today’s Portuguese banking system is relatively new...
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...Nova School of Business and Economics Public Economics Spring Semester 2014, 14th May Individual Assignment Social Security – Proposals to reform the Portuguese system Márcio Felizardo, student no. 11345 Index Introduction 4 Government Intervention – Provision of Retirement Pensions 4 Raising the Retirement Age 5 Limiting the Retirement pension 6 Conclusion 6 Bibliography 7 Introduction The present assignment will focus on the expenditure on old-age pension programs and will focus in the specific case of Portugal. Recent history shows that when economies tend to slow down their performance, there are remarkable expansions in the demand for social benefits. This enforces European governments – especially Portugal - to spend important amounts of revenue in order to provide a certain level of income to all of those who are temporarily affected by unemployment and other social problem. Along with this extra temporary expenditure, governments incur in elderly benefit programs that usually include retirement pensions and healthcare exemptions. Whenever there is a crisis, a public debate regarding efficient allocation of social security benefits arises because economic slowdown shows the fragilities of the system and forces governments to cut some benefits on permanent social security programs – which people claim to constitute a right that meet their working period contributions. It will be analyzed whether or not the systems are sustainable...
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...country spanning an archipelago of ten volcanic islands in the central Atlantic Ocean. It is located roughly 350 miles off the coast of Western Africa; the islands cover a combined area of slightly over 1,500 square miles. Portuguese explorers discovered and colonized the uninhabited islands, and it became the first European settlement in the tropics. It is located in an area that held the possibility of allowing the land for use in the Atlantic slave trade. The islands began to grow prosperous and often attracted privateers and pirates. Charles Darwin also visited the islands...
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... ……………………………………………………………………………….. page 7 Competition Analysis …………………………………………………………………………… page 11 STP Analysis …………………………………………………………………………………………. page 13 2 Introduction This marketing plan has been written for the Marketing course in Católica Lisbon School of Business and Economics. It consists of a study for the launch of a new and original product, called Smartink, as well as a proposal for a commercial plan of action. Even in the technological era we live in, it is noticeable that people still do a considerable amount of work recurring to paper materials, and not just electronic devices as many would have thought. So when it comes to studying or memorizing certain text or book it is fundamental to highlight...
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...CIMSPA Case-Study Corporate Finance - SS 2010/11 Group 41 18-04-2010 Filipa Reis nº 9485 Manuel Abegão nº 8952 David Bianchi nº 513 Ângela Fénix nº 9421 José Benjamim nº 10369 Índice Introdução ................................................................................................................................... 3 Question 1 ................................................................................................................................... 3 Operational Cash-Flows ………………………………………………………………………………………………6 Free Cash-Flows ………………………………………………………………………………………………………… 7 Net Present Value ……………………………………………………………………………………………………… 7 Internal Rate of Return ………………………………………………………………………………………………. 7 Profitability Index……………………………………………………………………………………………………… 8 Question 2 ……………………………………………………………………………………………………………………………… 8 Question 3 ……………………………………………………………………………………………………………………………… 9 Sensitivity Analysis I …………………………………………………………………………………………………… 9 NPV Break-even …………………………………………………………………………………………………………10 Sensitivity Analysis II ………………………………………………………………………………………………… 10 2 This case study is based on a company called CIMSPA, a Portuguese-based cement group, involved in manufacturing and marketing cement. This company is currently operating in South America and Africa and it’s considering a new project in Angola to exploit the opportunities of this market. The object of our study is going to be the viability of this project in terms of NPV, IRR, and Profitability...
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...Hispanic and Latino Diversity Hispanics, or Latinos, are a very wide and diverse ethnic group. Many misunderstand how diverse Hispanics actually are. Out of all the groups included in the ethnic group term Hispanic, there are four that stand out the most. . Mexican Americans, Central and South Americans Puerto Ricans, and Cuban Americans are the four largest Hispanic ethnic groups respectively. These four diverse groups are very different, though somewhat similar in many aspects. One can see the many unique differences of these four groups when viewing the linguistic, political, social, economic, religious, and familial statuses. Out of all of the four groups, Mexicans are the most widely known to most any American. According to Roosa, Liu, Torres, Gonzalez, Knight, and Saenz (2008), Mexican Americans are the largest Hispanic ethnic group in the United States of America. The Mexican American population consists of immigrants that just began their life in the United States and families that have been living in the United States for many years. There are some Mexican Americans that only speak Spanish and others speak English and Spanish. There are a few that speak no Spanish at all. Those who speak only Spanish tend to be immigrants just getting used to life in the United States. Racial and Ethnic Groups (n.d.) states that "As of 2002, about 23 percent of Mexican Americans are English dominant, 26 percent are bilingual, and 51 percent are Spanish dominant" (Ch. 9, p. 241). Mexican...
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...“W. Labov: Case Study Martha’s Vineyard and New York” Sprachwissenschaft Englisch Hausarbeit “Sociolinguistics“ Maria Juchem 2003 List of Contents 1. Introduction 2. Labov’s motivation for studying Sociolinguistics 3. Labov’s observations in Martha’s Vineyard 3.1 Geographical and historical basics of Labov’s studies 3.2 Repetition of the studies in 1961 by Labov 3.3 Labov’s explanation of the observations 4. Labov’s studies in New York 4.1 The Social Stratification of (r) in New York Department Stores 4.1.1 Preliminary Überlegungen 4.1.2 The experiment 4.1.3 The results of the department store study 4.2 Study of Lower East Side 4.2.1 The MFY Survey 4.2.2 The ALS (American Language Survey) 5. The meaning of Labov’s studies for modern sociolinguistics 6. Conclusion 1. Topic and Introduction The topic of this term paper are “Labov’s studies in New York and Martha’s Vineyard”. Labov’s observations in Martha’s Vineyard served Labov as a model for his Master’s essay and his observations in New York as a model for his dissertation. The second chapter will give a survey of William Labov’s motivation for studying sociolinguistics. Chapter 3 is about his observations in Martha’s Vineyard. After that I’ll give a detailed description of his studies in New York (chapter 4) divided up into the two parts: First, the social stratification of (r) in New York City Department Stores (4.1) and second The Lower East Side (4.2). These studies are Labov’s most famous works and...
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...All in-text references underlined in blue are linked to publications on ResearchGate, letting you access and read them immediately. SEE PROFILE Available from: Hossain Amran Retrieved on: 12 April 2016 USING DATA MINING TO PREDICT SECONDARY SCHOOL STUDENT ALCOHOL CONSUMPTION Fabio Pagnotta Mat:-093579 Mohammad Amran Hossain Mat:-093192 Department of Computer science, University of Camerino Advanced Database In this project, we use a data set about Portuguese student on two courses ( Mathematics and Portuguese ) which was collected and analysed by Paulo Cortez and Alice Silva, University of Minho,Portugal. Our work intends to approach student addiction on alcohol in secondary level using business intelligence (BI) and Data Mining (DM) techniques. The result shows that a good predictive accuracy can be achieved, provided that addiction of alcohol can impact to the student performance. In addition,the result also provides the correlation between alcohol usage and the social, gender and study time attributes for each student. As a direct outcome of our project, more efficient prediction tools can be developed in order to pay more attention to the student and share how the alcohol impact so badly in his life. Introduction Alcohol had lots of bad impact in our life. Drinking too much on a single occasion or over time can take a serious toll on our health. If who drinks alcohol it’s likely...
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...Heisenberg’s Uncertainty Principle and its Implications for Financial Institutions Submitted in Partial Fulfilment of Master of Business Administration By KARTIK CHANDRA CHATURVEDI Batch (2013-2015) University Roll No: S133F0010 December 2014 Under the guidance of NIDHI KAICKER SCHOOL OF BUSINESS, PUBLIC POLICY AND SOCIAL ENTREPRENEURSHIP AMBEDKAR UNIVERSITY DELH PAGE 1 CERTIFICATE This is to certify that I have successfully completed the project titled Heisenberg’s Uncertainty Principle and its Implications for Financial Institutions submitted in partial fulfilment of the requirements for the Degree of Master of Business Administration at the School of Business, Public Policy and Social Entrepreneurship, Ambedkar University Delhi. It is further certified that the submitted report is based on original research work carried out by me. The material obtained from secondary sources is duly acknowledged. [Student Signature] KARTIK ……………………………………………………………………………..CHANDRA ……………………………………………………………………………..CHATURVEDI Roll No S133F0010 Batch: 2013-15 [Dean Signature] Dean SBPPSE [Faculty Signature] Faculty Advisor PAGE 2 ACKNOWLEDGEMENT I have taken efforts in this project. However, it would not have been possible without the kind support and help of many individuals in the organization and School of Business, Public Policy and Social Entrepreneurship, Ambedkar University, Delhi. I would like to extend my sincere thanks to all of them. I am highly...
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...Comparative Country Studies Country Factbook Comparing the IT industries of Ireland and Portugal Instructor: Mr. Ritsema Date: 12.03.2015 Group 2.03 Niklas Binter S2555611 Josef Richarz S2535688 Table of Content: 1. Introduction 2. Methodology 2.1 Prime Theories and Approaches 3.2.1 Hofstede´s model of national culture 3.2.2 Porter´s diamond 3.2.3 Porter´s five forces of competition 3.2.4 The PESTEL framework 3.2.5 National Innovation Systems 3.2.6 Varieties of Capitalism Framework 2.2 Data Collection 3. The IT Industry 3.1. Description of the IT-Industry 4. Country Comparison 4.1 Macro- Level Indicators 4.1.1 Geographic Indicators 4.1.2 Demographic Indicators 4.1.3 Macro- Economic Indicators 4.2 Historical Developments relevant to the IT industry 4.3 Socio Cultural Conditions 4.3.1 Cultural Systems 4.3.2 Level of Education 4.3.3 Labor Market Regulations 4.3.4 Protectionism of Intellectual Property 4.3.5 Tax Regulations 4.4 Market/ Industry Conditions 4.4.1 Bargaining Power of Buyers and Subsidiaries 4.4.2 Bargaining Power of Suppliers 4.4.3 Threats of New Entrants 4.4.4 Competitive Rivalry 4.5 Other Contextual Conditions 4.5.1 Related and Supporting Industries 5. Major Findings of Comparison 5.1 Conclusion 5.2 Trends 5.3 Recommendation 1. Introduction In general, factbooks are conducted by...
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...Água das Pedras, UNICER *yellow underline indicates incomplete information that is to be completed through further research. The market for bottled water industry Globally, bottled water is the most dynamic segment of non-alcoholic drinks market, with a share of 38% of total sales. Major companies are looking today for entering developing markets, with a huge demand potential, like Asia and Middle East. Bottled water is the most dynamic segment of non-alcoholic drinks market, with a share of 38% of total sales. Europe is the indisputable leader of carbonated water market, with a 75% market share globally. Western Europe includes, also, countries with largest per capital bottled water consumption, like Germany, France, Spain and Italy. Non-carbonated water yet dominates water deliveries, with 80-85% of total sales, both in terms of value and volume. Non-carbonated water is expected to offer the most growing opportunities, exceeding 3-4 times the carbonated water sales growth rate. The biggest challenge for most companies is product innovation and differentiation, given the absolutely simple nature of product. Packaging represents a very important product component, with a 47% share of product costs. Appearance, weight and price are also important components of the product. (CRPCIS, 2012) Água das Pedras: mineral carbonated water in Portugal Água das Pedras is a mineral carbonated water coming from Pedras Salgadas, a spa village located in Vila Real district and Vila Pouca...
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...another perspective from the currency exchange location where I exchanged my money. I selected a jewelry store in Washington, DC to exchange my US Dollars for Reals because they had a better exchange rate than my bank. As I handed my US dollars to the cashier she asked me “Do you want to go to Brazil?” I definitely wasn’t shocked by this question but was somewhat surprised that she would ask given that I was exchanging for Reals. I informed her that I did want to go and she proceeded to tell me about the Olympic athletes that were not going because of the Zika Virus. The Zika virus from the States perspective was a reason to postpone going to Brazil. This showed that the announcement of the Zika Virus was taking potential tourism income from Brazil. Zika Questionnaire To get a better perspective on how the Zika Virus announcement was affecting the tourist economy of Brazil I revamped my survey questions before leaving for the trip. The survey consisted of six questions: - Have you noticed any changes to your business after the announcement of Zika virus? - Have there been any employment changes? (Fewer hours, etc.) - Have there been fewer sales? - Is tourism a major source of your sales? - Do you see less vacation tourists? - Do you see less business tourists? I hoped to get a better understanding if particular tourist industries, hotels, transportation, and retail stores saw differences to their business after the announcement of the Zika Virus in 2015. I...
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...Transmittal Letter December 4, 2010 Tumi Luggage in Brazil: A Feasibility Study Tumi Luggage is a very popular , high end, luxurious product. With its success in the US, in some parts of Europe and Asia, it is with best interest to research the feasibility in expanding its operations i nto the beautiful and lucrative country of Brazil. Feasibility and Marketing Plan: Tumi Luggage in Brazil Dr. Judy Strauss Associate Professor of Marketing University of Nevada, Reno Reno, Nevada 89557 Dear Dr. Strauss: We are pleased to present you with Bulletproof’s Feasibility and Marketing Plan for Tumi Luggage in the beautiful and lucrative country of Brazil. This plan will assist you in gaining valuable insight into the opportunity available for Tumi Luggage in Brazil. This plan is the result of an extensive research utilizing both primary and secondary findings. The suggestions proposed are carefully correlated with the market opportunities that are currently present in Brazil. The plan has been constructed in three different sections: (1) analysis of the potential market in Brazil, (2) the technical, financial and organizational elements that should be considered when entering the Brazilian market and (3) a marketing plan, if implemented, could create an overall increase in brand recognition, Tumi’s profitability and overall global market share. It is with confidence that the recommendations contained in this plan will cultivate excellent opportunities for Tumi Luggage, and...
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...colours (4 colours), even though the products were strong, durable, comfortable and cheap. And that was what made Havaianas so popular in Brazil. Indeed, one year after had been launched more than 13,000 pairs were produced every day The success made raise the interest of other companies and imitations of Havaianas began to appear in the 70’s. To respond to this movement, the company launched a campaign called “Havaianas: As Legítimas” (Havaianas: the Legitimate Ones) embodied by a famous Brazilian humorist, Chico Anysio. It was in 1988 that sales started to decline, going from 88 million of units to 65 millions in a specific moment. Thus, Havaianas decided to develop a research, in which discovered that the sandals were being used by high income groups, but only inside home, never outside, because they were embarrassed to wear them out. Actions After perceiving that the sales were decreasing, it became obvious for Havaianas that it was time to change. And...
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...Brazil – Country Report Introduction The country has been expanding its presence in international financial and commodities markets, and is one of a group of four emerging economies called the BRIC countries. Although struggling with social inequality and infrastructural deficits we think that Brazil is already a great world power. Also what attracted us to Brazil as a case study for this report is it’s exotic character. Not many people really know the extent of Brazil’s recent growth and improvements in social security and in overcoming poverty. We expect the labor force and operational costs to be low, like in the other emerging countries like China. However we take in to consideration higher costs involving security and bureaucracy. Chapter 1 – Short presentation of the country The Federative Republic of Brazil is the largest country in both South America and the Latin America Region. It is the world's fifth largest country, both by geographical area and by population, with over 193 million people. It is the largest Lusophone country in the world, and the only one in the Americas. Bounded by the Atlantic Ocean on the east, Brazil has a coastline of 7,491 km. It is bordered on the north by Venezuela, Guyana, Suriname and the French overseas region of French Guiana; on the northwest by Colombia; on the west by Bolivia and Peru; on the southwest by Argentina and Paraguay and on the south by Uruguay. Numerous archipelagos form part of Brazilian territory, such as Fernando...
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