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Browsing ESTG - Artigos em revistas nacionais by Sustainable Development Goals (SDG) "12:Produção e Consumo Sustentáveis"
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- Effect of process parameters on the strength of resistance spot welds in 6082-T6 aluminium alloyPublication . Pereira, A. M.; Ferreira, J. M.; Loureiro, A.; Costa, J. D. M.; Bártolo, P. J.In this study the microstructural and mechanical behaviour of resistance spot welds (RSW) done on aluminium alloy 6082-T6 sheets, welded at different welding parameters, is examined. Microstructural examinations and hardness evaluations were carried out in order to determine the influence of welding parameters on the quality of the welds. The welded joints were subjected to static tensile-shear tests in order to determine their strength and failure mode. The increase in weld current and duration increased the nugget size and the weld strength. Beyond a critical nugget diameter the failure mode changed from interfacial to pullout. Taking into consideration the sheet thickness and the mechanical properties of the weld, a simple model is proposed to predict the critical nugget diameter required to produce pull-out failure mode in undermatched welds in heat-treatable aluminium alloys.
- A Non-Linear relation between Working Capital Management and Stock LiquidityPublication . Coelho, Tiago; Oliveira, Célia; Lisboa, InêsPurpose – Working capital management (WCM) is related to how the firm manages its credits and inventories to achieve a trade-off between its benefits and costs. It shows the manager and the firm’s efficiency, which impacts its profitability and risk. The higher the firm’s efficiency, the better investors’ perception about the firm which can impact stock liquidity. This study aims to analyze if there is an optimal point between WCM and stock liquidity. Design/Methodology/Approach – For this purpose, a panel of 1,145 firms listed on five Euronext exchanges (Amsterdam, Brussels, Dublin, Lisbon, and Paris), between 2011 and 2019, is analyzed. Stock liquidity is captured using two alternative measures – Amihud (2002) and Fong et al. (2017). Working capital management is measured through the cash conversion cycle (CCC), and its components (days sales outstanding, DSO; days sales inventory, DSI; and days payable outstanding, DPO). Non-linear relations are estimated using fixed effects models. Findings – Results reveal an inverse U-shaped relation between cash conversion cycle, and its specific component days sales inventory, and stock liquidity, suggesting that there is an optimal value of CCC and DSI that maximize stock’s liquidity. Originality/Value – Most studies focus on the impact of WCM on operational profitability or stock’s return. The impact on stock’s illiquidity is less explored, so this study contributes to the debate whether being efficient in managing working capital can influence the transaction of stocks. Two alternative measures of liquidity are used since there is no consensus about which is better. This allows us to have different perspectives of liquidity, and to capture not only the breadth and depth of stocks, but also stock rigidity. Finally, instead of analyzing a single market, this work focuses on five European stock exchanges. The study insights are important for managers, investors, and shareholders, emphasizing the potential improvement in stock liquidity through effective WCM.
- Reforming Water Governance: Nordic Lessons for Southern EuropePublication . Santos, EleonoraWater governance in Europe faces mounting challenges from climate change, demographic pressures, and aging infrastructure—especially in Southern regions increasingly affected by drought and institutional fragmentation. In contrast, Nordic countries such as Denmark and Sweden exhibit coherent, integrated governance systems with strong regulatory oversight. This study introduces the Water Governance Maturity Index (WGMI), a document-based assessment tool designed to evaluate national water governance across five dimensions: institutional capacity, operational effectiveness, environmental ambition, equity, and climate adaptation. Applying the WGMI to eight EU countries—four Nordic and four Southern—reveals a persistent North–South divide in governance maturity. Nordic countries consistently score in the “advanced” or “model” range, while Southern countries face systemic gaps in implementation, climate integration, and territorial inclusion. Based on these findings, the study offers actionable policy recommendations, including the establishment of independent regulators, strengthening of river basin coordination, mainstreaming of climate-water strategies, and expansion of affordability and participation mechanisms. By translating complex governance principles into measurable indicators, the WGMI provides a practical tool for benchmarking reform progress and supporting the EU’s broader agenda for just resilience and climate adaptation. Unlike broader frameworks like SDG 6.5.1, the WGMI’s document-based, dimension-specific approach provides granular, actionable insights for governance reform, enhancing its utility for EU and global policymakers.