Relação entre governança corporativa e gerenciamento de resultados: um estudo em empresas brasileiras listadas na BM&FBOVESPA

The objective of this work was to identify a possible relation between corporate governance, through the structure of the boards of directors and the levels of earnings management of Brazilian public companies. The study is characterized as a descriptive, of a hypothetical-deductive nature, with quantitative approach guided by the estimation model proposed by Kang and Sivaramakrishnan (1995). The sample was comprised by 56 companies, analyzed in the period from 2011 to 2014. The information on the companies were extracted from Economatica databank. For the data analysis, we used multivariate techniques, such as Pearson correlation and panel data in POLS, Fixed Effects and Random Effects approaches. Furthermore, we applied the mean comparison test ANOVA. The results obtained show that, generally, the organizations tend to follow the profile of boards of directors recommended by the codes of corporative governance. However, the characteristics of the composition of the board, regarding its size and the duality of positions that are not yet sufficient to be considered capable of inhibiting the discretionary practice of the studied companies. Relative the control variables, only size and return on equity presented no significant relation with result management. It is important to highlight that literature point many factors that explain the different impacts caused by the formation of the administration board in different regions or countries. Among the factors pointed, we highlight the legal system of the country, the economic and political development, the importance of the capital market, and the level of accounting education.

Ativação da ligação c-h no metano por espécies MOm n+ (M = Nb, Fe; m = 0, 1; n = 0, 1, 2): estrutura eletrônica, mecanismo de reação e reatividade

The need for renewal and a more efficient use of energy resources has provided an increased interest in studies of methane activation processes in the gas phase by transition metal oxides. In this respect, the present work is an effort to assess , by means of a computational standpoint, the reactivity of NbOm n+ and FeOm n+ (m = 1, 2, n = 0, 1, 2) oxides in the activation process of the methane C-H bond, which corresponds to the first rate limiting step in the process of converting methane to methanol. These oxides are chosen, primarily, because the iron oxides are the most experimentally studied, and iron ions are more abundant in biological mediums. The main motive for choosing niobium oxides is the abundance of natural reserves of this mineral in Brazil (98%), especially in Minas Gerais. Initially, a thorough investigation was conducted, using different theoretical methods, to analyze the structural and electronic properties of the investigated oxides. Based on these results, the most reliable methodology was selected to investigate the activation process of the methane C-H bond by the series of iron and niobium oxides, considering all possible reaction mechanisms known to activate the C-H bond of alkanes. It is worth noting that, up to this moment and to our knowledge, there are no papers, in literature , investigating and comparing all the mechanisms considered in this work. I n general, the main results obtained show different catalytic tendencies and behaviors throughout the series of monoxides and dioxides of iron and niobium. An important and common result found in the two studies is that the increase in the load on the metal center and the addition of oxygen atoms to the metal, clearly favor the initial thermodynamics of the reaction, i.e., favor the approach of the metal center to methane, distorting its electron cloud and, thereby, decreasing its inertia. Comparing the two sets of oxides, we conclude that the iron oxides are the most efficient in activating the methane C-H bond. Among the iron oxides investigated, FeO + showed better kinetic and thermodynamic performance in the reaction with methane, while from the niobium oxides and ions NbO 2+ and NbO2 2+, showed better catalytic efficiency in the activation of the methane C-H bond.

Valores, crenças e comportamentos nas ações e atitudes dos indivíduos de caráter ambiental no município de Lavras -MG

The concept of environment involves social, political and economic aspects, in addition to natural elements. The acknowledgement that the environmental issue is complex highlights the importance of understanding the dynamics of relations that guide the individuals in their interactions with the environment. In this sense, studies have shown the relation between values, beliefs and behaviors. The theory on values developed by Schwartz (1992) identifies the complexity of the relations between values and behavior, organizing the field of human motivation into ten motivational types. Studies conducted by Pato (2004) on environmental beliefs are capable of indicating how the individuals relate to the environment, and its predisposition in acting or not in an ecological manner, allowing an understanding of ecological behavior and its forms of manifestation. Therefore, the objective of this study consisted of analyzing the value perception over environmental beliefs and ecological behavior of the individuals inserted into the environmental theme of the municipality of Lavras, Minas Gerais, Brazil. The research was conducted using a sample of 82 participants, comprised in its majority of male (62.2%), married (54.9%) individuals, and those with age from 31 to 40 years (35.4%). A survey of four segments was conducted: Ecological Behavior Scale (EBS), Environmental Beliefs Scale (EBeS), Schwatz Value Profile (SVP-40) and sociodemographic variables. The participants assumed, first, a value orientation directed to the universalism motivational type, which involves an important set of values for understanding the behaviors in relation to the environment. Furthermore, the results showed that the behaviors related to urban cleaning and economy of water and energy are more easily assimilated, while behaviors oriented to activism/consumerism and recycling were not yet incorporated in a satisfactory manner. On the other hand, the fact of belonging to an institution of which mission is to care for the environment seems to induce the participants to show a greater predisposition to pro-environmental behaviors. The environmental issue, urgent and moved by not always confluent debates, points to the need for reorganizing daily life, which necessarily involves change in values and behaviors. Thus, this study is relevant given that the interaction between the constructs can contribute with the research and the proposition of strategies that promote a reduction of behaviors damaging to the environment, as well as the strengthening of those that contribute for its preservation, sensitizing the actors involved to reorder their roles for benefiting the environment.