Tangibilidade, classe de ativos e estrutura de capital das empresas listadas na BM&FBOVESPA

This study aims to investigate the influence of the asset class and the breakdown of tangibility as determinant factors of the capital structure of companies listed on the BM & FBOVESPA in the period of 2008-2012. Two current assets classes were composed and once they were grouped by liquidity, they were also analyzed by the financial institutions for credit granting: current resources (Cash, Bank and Financial Applications) and operations with duplicates (Stocks and Receivables). The breakdown of the tangible assets was made based on its main components provided as warrantees for loans like Machinery & Equipment and Land & Buildings. For an analysis extension, three metrics for leverage (accounting, financial and market) were applied and the sample was divided into economic sectors, adopted by BM&FBOVESPA. The data model in dynamic panel estimated by a systemic GMM of two levels was used in this study due its strength to problems of endogenous relationship as well as the omitted variables bias. The found results suggest that current resources are determinants of the capital structure possibly because they re characterized as proxies for financial solvency, being its relationship with debt positive. The sectorial analysis confirmed the results for current resources. The tangibility of assets has inverse proportional relationship with the leverage. As it is disintegrated in its main components, the significant and negative influence of machinery & equipment was more marked in the Industrial Goods sector. This result shows that, on average, the most specific assets from operating activities of a company compete for a less use of third party resources. As complementary results, it was observed that the leverage has persistence, which is linked with the static trade-off theory. Specifically for financial leverage, it was observed that the persistence is relevant when it is controlled for the lagged current assets classes variables. The proxy variable for growth opportunities, measured by the Market -to -Book, has the sign of its contradictory coefficient. The company size has a positive relationship with debt, in favor of static trade-off theory. Profitability is the most consistent variable in all the performed estimations, showing strong negative and significant relationship with leverage, as the pecking order theory predicts

Saudosa Maloca, Maloca querida: um estudo morfológico da relação forma/usos do espaço em moradias autoconstruídas e construídas pelo poder público após um ano de ocupação

This study intends to enhance the existing knowledge concerning the patterns of the uses of space for low cost housing in Parnamirim, Rio Grande do Norte, Brazil, by way of comparative morphological studies in spatial arrangements and articulations regarding three distinct, however inter-related, sets of social housing: (1) a development comprising 21 self-built houses erected on public routes and illegal plots within a tract of land originally designed to be an industrial development: (2) architect-designed houses built by the public authority in order to accommodate the previous 21 (plus a few additions) families occupying the self-built dwellings, and (3) modifications performed by dwellers on a total of those 24 houses built by the public authority after an occupation period of one year. The predominant uses of each room within the self-built and modified houses were represented in ground plan, based on empirical observation, surveys with dwellers and the use of analytical procedures of morphologic analysis of nature predominantly geometric (specific) and topology (space syntax analysis). A scale of priorities was identified in relation to the uses of each room, its geometrical arrangement (adjacency, front/back relations etc), and underlying structures (connectivity, depth and spatial integration) in order to establish congruencies and non-congruencies between a social-cultural order embedded in the self-built domestic space and the design logic contained in the houses offered by official agencies. The comparative analysis points towards the convivial existence of two tendencies: one that seems to reinforce a design logic inasmuch as the additions and modifications performed by the dwellers do not alter but even emphasize the original configuration of the designed houses, and another one in which those patterns are subverted in accordance with a logic which, to a lesser or greater degree, coincides with that of the self-built dwellings

O processo de urbanização de Mossorò: dos processos históricos à estrutura urbana atual

The general objective of this academic work is to analyze the relationship between the territorial division and the urban expansion process of Mossoró city, understood here as the production and occupation of space. The urban expansion in Mossoró, since its formation as settlement in 1772 until current days, identifies with the Brazilian urbanization process whose growth is determined by the capitalist development. Thus, the expansion was determined by several economical specializations imposed by the territorial division of work which occurs at an interregional level, and, sometimes at an international level. Then, each specialization determined a moment of the urban expansion of the city, as follows: a) The cattle farmer specialization, between 1772 and 1857, when the urban expansion was shy, is summarized to a commercial square that received goods from Aracati aiming to cover a wide rural area; b) The commercial emporium specialization, between 1857 and 1930, when the urban expansion took an important impulse with the concentration of public and private capitals; c) The salt industry and the agricultural-industrial exporter specialization inside a state of development policy, between 1930 and 1970, when the urban expansion, joined to the settlement of the working class in the urban soil, developed along an important axis -the railway; d) The render of services specialization inside a state of intervention policy, between 1970 and 1990, when the urban expansion was characterized by the accelerated growth rhythm, by the reuse of some spaces, and by space segregation of demanding people; e) The render of services policy inside a neoliberal state policy, since 1990 until current days, when the urban expansion reduced its rhythm abruptly, when only small alterations occurred in the existing spaces. It focused on social policies and on several slums eradication programs. Finally, the territorial structure is deeply articulated with others, no territorial, but economical, social and political, which happens at a national, regional and local rate. Only within a historical and conceptual panorama, it was possible to explain the urban expansion in Mossoró from its formation in 1772 until current days. Therefore, this work is a several discipline analysis of the urbanization process existing in Mossoró

Habitabilidade na cidade sobre as águas: desafios da implantação de infra-estrutura de saneamento nas palafitas do Igarapé do Quarenta bairro Japiim Manaus/AM

The present research if inserts in the subject of the habitation of social interest and its relation with the sanitation infra-structure questions (sewer, water, draining and garbage). Having as study universe the narrow river of the Forty , situated one in the city of Manaus, capital of Amazon, approaches questions that if present between the necessities of housing and the especificidades of the natural environment, whose characteristics evidence limits for the implantation of adequate habitations. The objective is to analyze the possibilities and the limits of the urbanística regularization in the palafitas of the narrow rivers of Manaus, in view of the factors of habitability and ambient protection, expresses for the sanitation system - sanitary exhaustion, water supply, urban draining and garbage collection. The work approaches initially relative the conceptual aspects to the subject of social habitation in the country and its relation with the habitability factors, also focusing the question of the housing and the processes of urban informality in the city of Manaus. It deals with the process of constitution of the palafitas in the space of the city and its relation with the habitacionais politics, presenting the analysis of the implantation of the palafitas in relation to the sanitation infra-structure conditions (sewer, water, draining and garbage). As conclusion, it identifies to the possibilities and limits of urbanística regularization of the palafitas implanted to the long one of the narrow river of the Forty , taking in consideration the systems of the sanitation infrastructure

A experiência no Tai Chi: possibilidades para pensar o corpo sem órgãos e a preparação do ator

Although research in the field of performing arts has substantially advanced over the last century, the actor, in general, still needs a repertoire of specific references to guide or support his practice. But how the actor must work the material foundation of his art that is his own body? Starting from a prerogative of a idiosyncrasy that is part of theater, this study intend, from the description and reflection about one physical experience with the Tai Chi, to weave relations between this experience and the possible developments of acting preparation. This research is also aimed to highlight the elements of connection between the principles that rules Tai Chi and the body without organs, idealized by Artaud, with the perspective of pointing possible contributions for actors work. The work presented here refers to a qualitative study that considers the body experience in practice of Tai Chi as a reference to dialogue and reflect about the acting preparation. The process of acting preparation presupposes a constant redoing of the body by certain practices. My experience with Tai Chi within this research allowed me verify that the work from established body techniques could be a way of technical preparation for the actor. As the body conscience expands, Tai Chi promotes a greater freedom of creation and expression, giving the actor the possibility of experience the body without organs, the artistic equivalent of the daily body, present, conscious, the organic foundation of emotions, in wich it is possible the materiality of ideas

Dramaturgia do aqui e agora: presença, recepção e sentido no corpo do ator

The actor is an actor during all the phases of creation and development of his character. (S) He goes beyond the moment of interpreting. In this sense, in her (his) daily life, the actor may use her (his) potential to extract from reality the necessary elements for the work of creation. This is a theoretical research which focus on the concept of presence in the actor s work, stretching the concept beyond the scene, encompassing different components such as the body, the word, the silence, the technique and the acting as the actor s stance in regards to his own reality. The objective of such stance is to integrate him (her) self in the environment, balancing his (hers) inner life with the outside life flow. To reach this objective, the research drew theoretical resources from the concept of presence in the actor s work according to BROOK, BARBA, GROTOWSKI and MNOUCHKINE and the studies on reception theory in ISER, 1996; GUMBRECHT, 2010. Thus, the dialogue between reader and actor high lights both as receivers in this work. A practical description of a street theater Kamchàtka show, featured by the Kamchàtka Company is used as an example of the research on the presence. The elements localized in this show are: play, listening, word, silence, meaning, relationship with here and now and the effects of the said presence