WHAT THE STUDIES CONDUCTED IN BRAZIL REGARDING DIVIDEND POLICY REVEAL

This paper consists of a review of the literature about dividend policy in Brazil, focusing on the empirical studies conducted from 1990 to 2010 that were published in major Brazilian administration, accounting and finance journals and major conference proceedings on this subject. The analyzed sample comprised 39 studies using various methods and conducted in various periods. Based on the model of Harris and Raviv (1991), this paper grouped studies according to model type, and it found five main categories. We were able to find some tendencies, such as: dividend policy relevance in the Brazilian market; confirmation of existence of agency problems; conflicting findings regarding the clientele hypothesis; tax signaling in, and tax impact on, defining dividend policy; non-conflicting findings regarding key factors of dividend policy..

Glycerol as a by-product of biodiesel production in Brazil: Alternatives for the use of unrefined glycerol

On January 1 2008, Brazil included yet another element into its energy matrix: biodiesel. The predominant biodiesel production process involves a phase of transesterification that yields glycerol as a by-product. The use of this glycerol is limited since it is considered an unrefined raw material that must be refined for its various types of use. Several studies have addressed identification of possible uses for unrefined glycerol. Given the diversity of uses, an overview is necessary. The purpose of this work is to present alternatives currently being considered for the use of unrefined glycerol as a by-product of biodiesel production, aiming to contribute to the sustainable consolidation of the biofuel market. Exploratory research was carried out to identify these viable alternatives for the use of this by-product. The possibilities include the production of chemical products, fuel additives, production of hydrogen, development of fuel cells, ethanol or methanol production, animal feed, co-digestion and co-gasification, and waste treatment among others. The present research reveals that there are promising possibilities for the use of unrefined glycerol, which may help consolidate the sustainability of the biofuel market. (C) 2012 Elsevier Ltd. All rights reserved.

Qualidade do relato dos procedimentos metodológicos em periódicos nacionais na área de administração de empresas: o caso da modelagem em equações estruturais nos periódicos nacionais entre 2001 e 2010

Esta pesquisa teve o objetivo de avaliar a qualidade da descrição dos procedimentos metodológicos de artigos que utilizaram a modelagem em equações estruturais (MEE), incluindo a análise fatorial confirmatória e a path analysis, e que foram publicados na RAE, RAUSP, REAd, O&S, RAC e RAE-eletrônica entre 2001 e 2010. A partir da revisão da literatura metodológica, foi elaborado um check list para avaliar as treze etapas da MEE, sendo validado com 33 especialistas. Os principais resultados da análise de 68 artigos encontrados foram: a impossibilidade de replicar os estudos devido à falta de informações e o uso de estratégias exploratórias sem a posterior validação. Por outro lado, a justificativa do método utilizado e a explicação das implicações teóricas dos resultados são aspectos que têm sido atendidos plenamente. O check list foi um importante subproduto desta pesquisa, pois, a partir dele, são propostas novas linhas de investigação e até mesmo seu uso como ferramenta didática.