https://www.um.edu.mt/library/oar/handle/123456789/69987 2026-04-22T06:28:36Z https://www.um.edu.mt/library/oar/handle/123456789/71350 Title: Management of pension funds : the case of Portugal Authors: Medeiros Garcia, Maria Teresa Abstract: The concern with the long term viability of most of existing government-operated pension systems, due to demographic changes, have led to various proposals for pensions reform, many of which have already been put into action. However, pension reform remains a highly controversial issue due to its complexity. This article brings attention to the management performance issue concerning funded systems. Detailed evidence and discussion is given to both investment performance results of public pension reserve funds, within the Social Security system, and to private pension funds in Portugal. Policy implications are also analysed and discussed. 2014-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/71349 Title: What if output persistence is disregarded by an opportunistic incumbent? Authors: Bento Caleiro, António Abstract: This note presents the consequences of output persistence being disregarded by an electorally motivated incumbent. In this case, incumbent’s policies are suboptimal not only socially but also from the electoral point of view. 2014-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/71348 Title: Commons management : a reflection over the current crisis Authors: Filipe, José António Abstract: Capitalism prevails as economic system. But often inside the system - or even emerging and going out – there are many emerging crises and there is much discussion around the system itself. Nowadays, new processes are coming to force a new vision to the economic practices. The present study presents a new vision for business and new promising ways of commitment to alternative structures but sometimes being essentially a complementary organization of society to the current standard. 2014-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/71346 Title: Identifying small market segments with mixture regression models Authors: Oliveira-Brochado, Ana; Vitorino Martins, Francisco Abstract: The purpose of this work is to determine how well criteria designed to help the selection of the adequate number of market segments perform in recovering small niche market segments, in mixture regressions of normal data. As in real world data the true number of market segments is unknown, the results of this study are based on experimental data. The simulation experiment compares 27 segment retention criteria, comprising 14 information criteria and 13 classification-based criteria. The results reveal that AIC3, AIC4, HQ, BIC, CAIC, ICLBIC and ICOMPLBIC are the best criteria in recovering small niche segments and encourage its use. 2014-01-01T00:00:00Z