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This study presents the intrinsic value of Moody’s Corporation, a leading credit rating agency in the U.S. The results of the valuation were compared to the market value of Moody’s Corporation of the same date. The aim of the research is to provide a perspective to the investors on whether the actual value of the Company was overvalued or undervalued in the market, and how much the volatility of the stock price by the change of some factors. Both qualitative and quantitative analyses were applied in the research. The historical data, economic outlook, and the Company’s strategies were collected to be the metrics to determine the intrinsic value and provide an analysis of the prospects of Moody’s Corporation. Three valuation models were applied in the research to estimate the intrinsic value of the Company’s common stock. The cost of debt, cost of equity, the weighted average cost of capital, and the market risk premium were introduced and calculated in the research as they were the critical components in the valuation process. Since the valuation was based on assumptions and historical data to determine future growth, which indicates that the results could be changed due to uncertain factors. This study demonstrates that there was some discrepancy between the stock’s market price and the intrinsic value per share of Moody’s Corporation as of December 31, 2021

"Cantonese opera (CO) represents an art form that had its golden time in Macao during the mid-twentieth century. CO still has many loyal fans but they mainly are in the older generation. The purpose of this study was to explore if CO is considered a cultural capital heritage in Macao, related to cultural identity and transmitted across generations to support social bonding. Applying a qualitative methodology, a script for exploring participants’ experiences and opinions about CO was designed, and different groups of individuals were recruited for semi-structured interviews and focus groups. The data collected was analysed by a thematic analysis of the verbatim transcripts. Findings show that in the past first contacts with CO happened in family and related social context, mainly during participants’ developing age. However, currently CO is no longer passed on to the next generation. Despite that the young generations acknowledging their cultural identities in CO, mainly in terms of Cantonese culture and Cantonese language, older individuals engaged with CO seemed to perceive their cultural identities more in depth in its history, literacy and music. Actually, engagement is an important factor that generates social bonds. The CO leisure practitioners, no matter young or old, experienced the effects of social bonding during the ritual of enquiry in the process of learning and practising CO. To improve CO’s preservation in Macao, the adoption of strategies such as developing new productions, crossover with other media, innovations in promotion targeting the young audiences, and absorbing audiences in the Great Bay area were proposed. Finally, the potential use of CO as a tool in counselling and community work is discussed. "

The demand for plastic has led to enormous plastic waste in the environment, which persist and negatively impact the ecosystems. Polyethylene terephthalate (PET) is one of the most common thermoplastic polymers available on the market. The concerns about plastic waste generated an interest in strategies to enhance its biodegradation and finding alternative polymers. In this work was investigated the possibility of using bacteria to degrade PET and to produce bioplastics (Polyhydroxyalkanoates, PHAs). Finally, the integration of the two processes was tested. Overall, the work aimed to investigate the potential to recycle PET into bioplastic using bacteria. The potential of bacterial consortia from various environmental samples to degrade PET granules in liquid matrix was investigated. . The results revealed maximum PET granules degradation of 1.1 % by one of the tested consortia. PET degradation intermediate terephthalic acid (TPA) was not detected at the end of 55 days. Fourier-transform infrared spectroscopy (FTIR) results showed major spectral peak shifts and bends on PET chemical structure compared to non-inoculated control. The biodegradation of PET films buried in the soil (A), with mangrove plants (B), and bioaugmented with a bacterial consortium (C) was also investigated. The experiments were conducted for 270 days at ambient conditions. The results revealed no difference between treatments in the degradation, with a maximum weight loss of 0.118 % in the bioaugmented treatment. Nevertheless, Scanning Electron Microscope (SEM) and FTIR results indicated significant surface changes, spectral peak shifts, and stretches in PET chemical structures. Bacterial consortia isolated from the soil of the experimental treatments were assessed for degradation of PET monomers, TPA and monoethylene glycol (MEG), and intermediate Bis(2-hydroxyethyl) terephthalate (BHET). The consortia were inoculated in flasks containing minimal media with 1000 mg/L TPA or BHET or1113 mg/L MEG as the sole carbon source. Results showed complete degradation of TPA and significant degradation of BHET (96.09%), and MEG (83.65%) by the consortia. In the second part of the study, bacteria were isolated from various environmental samples and screened for PHA production using Sudan Black B staining on colonies and smeared glass slides. Transmission Electron Microscope images were captured to confirm the intracellular PHA inclusions. A total of 35 isolates were screened for PHA, and 22 showed positive staining. The isolate showing higher levels of PHA synthesis (EC2-30-3) was identified based on 16S rRNA gene sequence as Bacillus sp. and selected for PET monomers degradation and fermentation cultures for PHA production. It was cultured in minimal (Moreira et al., 2013) media with 1000 mg/L TPA and 1113 mg/L MEG as the carbon source for eight days. The isolate grew better in media containing MEG, which was selected as a substrate model for PHA fermentation. To integrate PET monomers biodegradation and production of PHA, the isolate was cultured in 0.2 % MEG. A control with 0.2 % of glucose was prepared, and the cultures were incubated for 96 hours. Bacillus sp. EC2-30-3 showed higher PHA accumulation in media supplied with MEG (40.31%) than glucose (25.53%). This is the first report showing that Bacillus sp. uses PET monomer as carbon source to produce a biopolymer. FTIR results of the extracted PHA identified its functional units as C–H, CH3, C=O, and C–O groups. The absorption bands obtained are closely related to the structure of PHB. The study thus confirmed the ability of the isolated bacteria to degrade PET monomers and produce biopolymers. The results of this work open the possibility for upscaling the use of bacteria to mitigate the impact of PET on the environment while producing environmentally friendly bioplastics

Buddhism was founded by Shakyamuni, and this religion has appeared in opposition to Brahmanism's caste system since its inception. Shakyamuni emphasized the important concept of “all beings are equal” from the very beginning. Buddhism spread from India to other regions, and was introduced to China through Central Asia. In China, Buddhism merged the two native cultures of Confucianism and Taoism and finally produced the socalled Chinese Buddhism. Buddhism and its value of equality were also developed and extended in China, and finally spread to Japan. After Buddhism was spread to Japan, it developed rapidly due to official support. Different Buddhist sects have established their own temples in Japan, and among them, Zen Buddhism has the greatest influence among all social classes in this country. Later, after years of development, Zen Buddhism penetrated into many aspects of Japanese culture, such as religion, aesthetics, garden design, samurai spirit and tea ceremony. With the spread of Zen Buddhism, the core value of Buddhism which is “Buddhist concept of equality” was also spread to Japan. The tea ceremony is precisely the place where this value of equality can be detected. This dissertation explains the many processes that reflect this value no matter inside or outside the tea room, and argues that the spirit of the tea ceremony is to pursue the value of equality

The main focus of this thesis was to characterize the patient information leaftlets as a text genre in Portugal, compare it with the same text genre in other countries and propose a new form of elaborating these documents in order to rise its comprehensibility levels. Therefore, we proceeded with an analysis of the patient information leaflet as a text genre and its relationship with text linguistics and translation. We also analyzed a corpus of 50 patient information leaflets with focus not only on its content, but also in the way they were created. In order to know the opinion of the general public, a survey about the situation of these documents in Portugal was distributed. In order to find the differences between these documents in different contexts, we made a comparison of a portuguese leaflet with leaflets from other countries. By last, we proposed a new writing scheme for these documents, reformulating one of the leaflets analyzed in the corpus and, to get the opinion of the general public, distributing a survey where the reformulated version was compared to the original one. The results point out to a lack of uniformity between documents and the way that they are created in pharmaceutical companies. The content of the patient informations leaflets in Portugal has an excess of text, technical language and a visual organization that is not appealing, problems that were also pointed out by the public in a survey. In the comparison between leaflets of different countries, big differences were found even when they were produced by the same company. When confronted with the original version and the reformulated version of the same document, the general public prefered the latter.

Aggression clearly has an adaptive value as it is necessary to secure resources for survival, growth, and reproduction. The Siamese fighting fish, Betta splendens, have endured a prolonged process of artificial selection for winning paired-fight contests across Southeast Asia, resulting in strains of short-fin aggressive “fighters”. Across centuries, Thai breeders have been selecting these strains by discarding loser batches and allowing winner batches to breed, claiming that they are significantly more aggressive than wild-types. This natural experiment provides a powerful context to investigate the biological basis of aggressive behaviour in fish, the topic of this thesis. To study aggression, it is important to validate and standardize behavioural assays appropriate for the species under study. Further, different aggression-eliciting stimuli, such as live opponents, 3D models, video playback, or mirror images, may elicit non-equivalent behavioural and physiological responses. For B. splendens, in particular, quantifying aggression from live fights is not ethically acceptable as the high levels of aggression of this species usually result in injuries or even death of the opponent. In Chapter II, it was shown that mirror images elicit very similar aggressive displays and endocrine responses to an interacting opponent behind a transparent partition, validating the use of this test to measure aggression in this model species. Further, it was shown that circulating levels of both androgens (11-ketotestosterone and testosterone) and corticosteroids (cortisol) increased in response to the aggression challenge, even in the absence of conflict resolution, questioning the role of these hormones during present and future aggressive contests. Using the previously validated mirror assay and also tests with live conspecifics, we assessed the impact of selection for winning by comparing, in Chapter III, male and female aggressive behaviour of lab-raised fighter and wild-type strains. The hypothesis that selection for male winners enhanced aggressive displays was confirmed, suggesting that the duration and frequency of threat and attack behaviour correlates with winning probability. However, females of the fighter strain, which are not selected for fights, were also more aggressive than wild-type females. This suggests that male and female aggression share common genetic pathways and physiological mechanisms and raises the possibility that selection for alleles that favour male aggression may have promoted intersexual genetic conflict in this species. After confirming the expected differences in aggressive behaviour between fighter and wild-type fish, the following question was whether endocrine systems, in particular those previously shown to respond to aggression, could have been targeted by the selection process. From previous studies in fish and other vertebrates, it was hypothesised that selection for winners could have increased constitutive levels of androgens or led to an enhanced androgen response to a social challenge. However, in chapter IV, it was shown that levels of 11-ketotestosterone and its response to aggression was similar in males of both strains, questioning the role of androgens in the modulation of aggression in B. splendens. On the contrary, constitutive levels of cortisol and the response of this hormone to an aggression challenge were higher in wild-type compared with fighter fish, supporting previous findings that associated high aggression with a blunted cortisol response. Overall, results from Chapter IV suggest that selection for winning had a stronger impact on the hypothalamus-pituitary-interrenal axis than in the hypothalamus-pituitary-gonadal axis. My results support the assumption of the “Challenge Hypothesis” proposed by John Wingfield and collaborators in 1990 to explain the relationship between androgens and aggression, according to which androgen levels above a reproductive baseline are a consequence of the frequency and intensity of social interactions, in particular of male-male agonistic encounters. It is becoming clear that androgens increase rapidly after an aggressive contest, independently of fight outcome. However, the function of this increase remains unclear as the frequency of aggressive displays was unrelated with post-fight androgen levels and constitutive levels of androgens, and androgen responsiveness, were similar between fighter and wild-type males. Results obtained for cortisol agree with a “corticosteroid-mediated dominance hypothesis” whereby low baseline levels and a blunted response of corticosteroids would be associated with a dominant status and high aggression. The work advances our knowledge about the endocrine regulation of aggressive behaviour in B. splendens and opens several testable hypotheses about the role of androgens and corticosteroids in the regulation of fish aggressive behaviour