http://hdl.handle.net/10362/2147 Mon, 13 May 2013 23:34:22 GMT 2013-05-13T23:34:22Z http://hdl.handle.net/10362/9582 Title: Reporting earnings per share: Evidence from Portuguese annual reports Authors: Freixinho, Catarina Alexandra Fena Abstract: The importance of the Earnings per Share (EPS) has been increasing in the last decade and its disclosures have become more common. Still, there are no studies about EPS financial reporting in Portugal. Being so, this project offers a first analysis of EPS financial reporting in Portugal, reviewing the regulation, providing evidence on the current practices and presenting recommendations to improve them. It concludes that not all of the Portuguese companies are in compliance with regulation (IAS 33) regarding EPS; they only voluntarily disclose what is more favorable and the crisis of 2010 had a great impact on EPS amounts. Description: A Work Project, presented as part of the requirements for the Award of a Masters Degree in Finance from the NOVA – School of Business and Economics Fri, 01 Jun 2012 00:00:00 GMT http://hdl.handle.net/10362/9582 2012-06-01T00:00:00Z http://hdl.handle.net/10362/9581 Title: Protectionism and the productivity of the automotive industry in Brazil Authors: Cavalcante, Camila Ferraz Peixoto Abstract: This work project provides evidence on the positive effect of trade liberalization on productivity growth in the Brazilian automotive industry. I use data before and after trade liberalization. The positive effect of trade liberalization found here supports the idea that the adoption of higher tariffs on imports in this sector is not justified. This idea is also supported by the fact that production increased since trade liberalization. Higher tariffs on imports of vehicles are one of the measures of the recently announced plan Brasil Maior. According to the results found here, the effect of this new protectionist measure might be the loss of productivity and efficiency of the industry in the long run and the supply of expensive products in the domestic market. Description: A Work Project, presented as part of the requirements for the Award of a Masters Degree in Economics from the NOVA – School of Business and Economics Fri, 01 Jun 2012 00:00:00 GMT http://hdl.handle.net/10362/9581 2012-06-01T00:00:00Z http://hdl.handle.net/10362/9580 Title: The effects of OF ETF creation on the price efficiency of underlying stocks Authors: Bueno, Bruna Helena Belchior Machado da Silva Abstract: In this assignment I build an intuitive panel regression model, in order to achieve a clear isolation of the impact of the inception of the first Exchange Traded Fund created on the FTSE100 index on the price efficiency of its underlying stocks. The main finding of this analysis is that price efficiency at the individual stock market decreases after ETF introduction. Thus, the adverse selection hypothesis highlights the shift of liquidity traders to the basket security, leaving informed traders exposed in the individual market. This decrease is evident and significant for different time range samples employed, as well as for the several measures of price efficiency used. Description: A Work Project, presented as part of the requirements for the Award of a Masters Degree in Finance from the NOVA – School of Business and Economics Fri, 01 Jun 2012 00:00:00 GMT http://hdl.handle.net/10362/9580 2012-06-01T00:00:00Z http://hdl.handle.net/10362/9579 Title: The compliance function in banking: Perspective and future in Authors: Pereira, Artur Ferreira Conrado Torres Abstract: Ethically correct business decisions and the respect for applicable laws and regulations have become in demand for regulators and supervisors, but especially for the general public. For those behaviors to happen, compliance culture is an essential requirement. Through survey research, we prove the existence of a relationship between the workers’ level of compliance culture and their hierarchical position, which may indicate communication problems between hierarchies. This area is also given a comprehensive outlook, as the globalization process combined with financial regulatory reforms lead multinational corporations to a more challenging equilibrium between their compliance departments’ actions and budgets. Description: A Work Project, presented as part of the requirements for the Award of a Masters Degree in Management from the NOVA – School of Business and Economics Fri, 01 Jun 2012 00:00:00 GMT http://hdl.handle.net/10362/9579 2012-06-01T00:00:00Z