161 resultados para Financial Planning Association
Resumo:
Recent advances in energy technology generation and new directions in electricity regulation have made distributed generation (DG) more widespread, with consequent significant impacts on the operational characteristics of distribution networks. For this reason, new methods for identifying such impacts are needed, together with research and development of new tools and resources to maintain and facilitate continued expansion towards DG. This paper presents a study aimed at determining appropriate DG sites for distribution systems. The main considerations which determine DG sites are also presented, together with an account of the advantages gained from correct DG placement. The paper intends to define some quantitative and qualitative parameters evaluated by Digsilent (R), GARP3 (R) and DSA-GD software. A multi-objective approach based on the Bellman-Zadeh algorithm and fuzzy logic is used to determine appropriate DG sites. The study also aims to find acceptable DG locations both for distribution system feeders, as well as for nodes inside a given feeder. (C) 2010 Elsevier Ltd. All rights reserved.
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This paper analyses the presence of financial constraint in the investment decisions of 367 Brazilian firms from 1997 to 2004, using a Bayesian econometric model with group-varying parameters. The motivation for this paper is the use of clustering techniques to group firms in a totally endogenous form. In order to classify the firms we used a hybrid clustering method, that is, hierarchical and non-hierarchical clustering techniques jointly. To estimate the parameters a Bayesian approach was considered. Prior distributions were assumed for the parameters, classifying the model in random or fixed effects. Ordinate predictive density criterion was used to select the model providing a better prediction. We tested thirty models and the better prediction considers the presence of 2 groups in the sample, assuming the fixed effect model with a Student t distribution with 20 degrees of freedom for the error. The results indicate robustness in the identification of financial constraint when the firms are classified by the clustering techniques. (C) 2010 Elsevier B.V. All rights reserved.
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This article presents an extensive investigation carried out in two technology-based companies of the So Carlos technological pole in Brazil. Based on this multiple case study and literature review, a method, entitled hereafter IVPM2, applying agile project management (APM) principles was developed. After the method implementation, a qualitative evaluation was carried out by a document analysis and questionnaire application. This article shows that the application of this method at the companies under investigation evidenced the benefits of using simple, iterative, visual, and agile techniques to plan and control innovative product projects combined with traditional project management best practices, such as standardization.
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This paper describes the development of an optimization model for the management and operation of a large-scale, multireservoir water supply distribution system with preemptive priorities. The model considers multiobjectives and hedging rules. During periods of drought, when water supply is insufficient to meet the planned demand, appropriate rationing factors are applied to reduce water supply. In this paper, a water distribution system is formulated as a network and solved by the GAMS modeling system for mathematical programming and optimization. A user-friendly interface is developed to facilitate the manipulation of data and to generate graphs and tables for decision makers. The optimization model and its interface form a decision support system (DSS), which can be used to configure a water distribution system to facilitate capacity expansion and reliability studies. Several examples are presented to demonstrate the utility and versatility of the developed DSS under different supply and demand scenarios, including applications to one of the largest water supply systems in the world, the Sao Paulo Metropolitan Area Water Supply Distribution System in Brazil.
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Reconciliation can be divided into stages, each stage representing the performance of a mining operation, such as: long-term estimation, short-term estimation, planning, mining and mineral processing. The gold industry includes another stage which is the budget, when the company informs the financial market of its annual production forecast. The division of reconciliation into stages increases the reliability of the annual budget informed by the mining companies, while also detecting and correcting the critical steps responsible for the overall estimation error by the optimization of sampling protocols and equipment. This paper develops and validates a new reconciliation model for the gold industry, which is based on correct sampling practices and the subdivision of reconciliation into stages, aiming for better grade estimates and more efficient control of the mining industry`s processes, from resource estimation to final production.
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Constructing highways in dense urban areas is always a challenge. In Sao Paulo Metropolitan Region, heavy truck traffic contributes to clog streets and expressways alike. As part of the traffic neither originates nor head to the region, a peripheral highway has been proposed to reduce traffic problems. This project called Rodoanel, is an expressway approximately 175 km long. The fact that the projected south and north sections would cross catchments that supply most of the metropolis water demand was strongly disputed and made the environmental permitting process particularly difficult. The agency in charge commissioned a strategic environmental assessment (SEA) of a revamped project, and called it the Rodoanel Programme. However, the SEA report failed to satisfactorily take account of significant strategic issues. Among these, the highway potential effect of inducing urban sprawl over water protection zones is the most critical issue, as it emerged later as a hurdle to project licensing. Conclusion is that, particularly where no agreed-upon framework for SEA exists, when vertical tiering with downstream project EIA is sought, then a careful scoping of strategic issues is more than necessary. If an agreement on `what is strategic` is not reached and not recognized by influential stakeholders, then the unsettled conflicts will be transferred to project EIA. In such a context, SEA will have added another loop to the usually long road to project approval. (c) 2008 Elsevier Inc. All rights reserved.
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Simulated annealing (SA) is an optimization technique that can process cost functions with degrees of nonlinearities, discontinuities and stochasticity. It can process arbitrary boundary conditions and constraints imposed on these cost functions. The SA technique is applied to the problem of robot path planning. Three situations are considered here: the path is represented as a polyline; as a Bezier curve; and as a spline interpolated curve. In the proposed SA algorithm, the sensitivity of each continuous parameter is evaluated at each iteration increasing the number of accepted solutions. The sensitivity of each parameter is associated to its probability distribution in the definition of the next candidate. (C) 2010 Elsevier Ltd. All rights reserved.
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In this technical note we consider the mean-variance hedging problem of a jump diffusion continuous state space financial model with the re-balancing strategies for the hedging portfolio taken at discrete times, a situation that more closely reflects real market conditions. A direct expression based on some change of measures, not depending on any recursions, is derived for the optimal hedging strategy as well as for the ""fair hedging price"" considering any given payoff. For the case of a European call option these expressions can be evaluated in a closed form.
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This survey evaluated the presence of AFM(1) in human urine samples from a specific Brazilian population, as well as corn, peanut, and milk consumption measured by two types of food inquiry. Urine samples from donors who live in the city of Piracicaba, State of Sao Paulo, Brazil were analyzed to detect the presence of aflatoxin M(1) (AFM(1)). an aflatoxin B(1) metabolite, which may be used as aflatoxin B(1) exposure biomarker. The AFM(1) analysis was performed using immunoaffinity clean-up and detection by high-performance-liquid chromatography with fluorescence detector. A total of 69 samples were analyzed and 45 of them (65%) presented contaminations >= 1.8 pg ml(-1), which was the limit of quantification (LOQ). Seventy eight percent (n = 54) of the samples presented detectable concentrations of AFM(1) (>0.6 pg ml(-1)). The AFM(1) concentration among samples above LOQ ranged from 1.8 to 39.9 pg ml(-1). There were differences in food consumption profile among donors, although no association was found between food consumption and AFM(1) concentration in urine. The high frequency of positive samples suggests exposure of the populations studied to aflatoxins. (C) 2009 Elsevier Ltd. All rights reserved.
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In the present paper the process of wood biodeterioration of tipuana trees planted in 7 regions of the city of Sao Paulo, SP was evaluated. On the sidewalks, 1109 trees were analyzed taking into consideration the occurrence and association of the xylophagous organisms (decay fungi and subterranean termites), the wood deterioration and the BHD (breast height diameter). The percentage of wood internal deterioration (%) was obtained by non destructive analysis, using a penetrometer. The results had shown that 75% of the tipuana trees presented BHD superior to 50 cm, characterizing them as adult. Decay fungi in the roots and/or trunk had been observed in 338 trees (30.5%). Subterranean termites of Heterotermes sp. and Coptotermes gestroi species had occurred in 307 trees (27.7%), the latter in high infestation level. The association between the fungi and termites was observed, as well as its relation with the BHD, where a greater value of BHD meant higher wood biodeterioration intensity. For tipuana trees, the BHD was considered an indicative attribute of the internal deterioration intensity, caused by these xylophagous organisms.
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Transcribed sequences have been suggested to be associated with the nuclear matrix, differing from non-transcribing sequences, which have been reported to be contained in DNA loops. However, although a dozen of genes have their expression level affected by aging, data on chromatin-nuclear matrix interactions under this physiological condition are still scarce. In the present study, liver imprints from young, adult and old mice were subjected to FISH (fluorescence in situ hybridization) for 45S rDNA and telomeric sequences, with or without a lysis treatment to produce extended chromatin fibres. There was an increased amount of 45S rDNA sequences located in DNA loops as the animals grow older, while telomeric sequences were always observed in DNA loops irrespective of the animal age. We assume that active rRNA genes associate with the nuclear matrix, while DNA loops contain silent sequences. Transcription of each 45S rDNA repeat unit is suggested to be dependent on its interaction with the nuclear matrix.
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This experiment was designed to examine changes in milk fatty acids during fish oil-induced milk fat depression (MFD) and to test the theory that these changes are related to milk fat fluidity. The experiment was divided into three periods: 1) Baseline: all cows (n = 12) received a high fiber diet without fish oil (FO) for 12 days; 2) Treatment: 4 cows/group received the following treatments for 21 days: a) Low fiber diet without FO (LF), b) High fiber diet+FO (HF+FO) and c) Low fiber diet+FO (LF+FO); 3) Post-treatment: cows returned to the baseline diet and were monitored for 12 days. FO was included at 1.6% DM and HF and LF diets had 40 and 26% NDF, respectively. Milk fat content and yield were unchanged by the LF diet, but were reduced by FO diets at both dietary fiber levels and recovered in the post-treatment period. FO diets caused a pronounced reduction in stearic and oleic acid concentrations in milk fat and an equally pronounced increase in trans-18:1 fatty acid concentrations. Milk fat mean melting point (MMP) was correlated with MFD (r=0.73) and with milk oleic acid concentration (r=-0.92). The ratio of oleic:stearic in milk fat increased gradually and consistently in response to FO. Trans-C18:1 isomers with double bounds at carbon :<= 10 increased with greater MFD and those with double bonds at carbon ! I I decreased with greater MFD. Trans-9 cis-11 CLA explained more than 80% of MFD and was strongly correlated with trans-10 C18:1. Maintenance of MMP below 39-40 degrees C suggests that the mammary gland was able to secrete only milk fat with adequate fluidity and that MFD could be an adaptation mechanism to prevent secretion of milk with higher MMP. (C) 2007 Elsevier B.V. All rights reserved.
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The objective of this study was to evaluate the association among chemical parameters, the commercial value, and the antioxidant activity of Brazilian red wines using chemometric techniques. Twenty-nine samples from five different varieties were assessed. Samples were separated into three groups using hierarchical cluster analysis: cluster 1 presented the highest antioxidant activity towards DPPH (68.51% of inhibition) and ORAC (30,918.64 mu mol Trolox Equivalents/L), followed by cluster 3 (DPPH = 59.36% of inhibition: ORAC = 25,255.02 mu mol Trolox Equivalents/L) and then cluster 2 (DPPH = 46.67% of inhibition; ORAC = 19,395.74 gmol Trolox Equivalents/L). Although the correlation between the commercial value and the antioxidant activity on DPPH and ORAC was not statistically significant (P = 0.13 and P = 0.06, respectively), cluster 1 grouped the samples with higher commercial values. Cluster analysis applied to the variables suggested that non-anthocyanin flavonoids were the main phenolic class exerting antioxidant activity on Brazilian red wines. (C) 2010 Elsevier Ltd. All rights reserved.
Resumo:
A lipidic nanoemulsion termed LDE concentrates in neoplastic cells after injection into the bloodstream and thus can be used as a drug carrier to tumour sites. The chemotherapeutic agent daunorubicin associates poorly with LDE; the aim of this study was to clarify whether the derivatization of daunorubicin by the attachment of an oleyl group increases the association with LDE, and to test the cytotoxicity and animal toxicity of the new preparation. The association of oleyl-daunorubicin (oDNR) to LDE showed high yield (93 +/- 2% and 84 +/- 4% at 1:10 and 1:5 drug:lipid mass, respectively) and was stable for at least 20 days. Association with oDNR increased the LDE particle diameter from 42 +/- 4 nm to 75 +/- 6 nm. Cytotoxicity of LDE-oDNR was reduced two-fold in HL-60 and K-562 cell lines, fourteen-fold in B16 cells and nine-fold in L1210 cells when compared with commercial daunorubicin. When tested in mice, LDE-oDNR showed remarkable reduced toxicity (maximum tolerated dose > 253 mu mol kg(-1), compared with <3 mu mol kg(-1) for commercial daunorubicin). At high doses, the cardiac tissue of LDE-oDNR-treated animals had much smaller structural lesions than with commercial daunorubicin. LDE-oDNR is therefore a promising new preparation that may offer superior tolerability compared with commercial daunorubicin.
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Objectives: To examine the association between methylenetetrahydrofolate reductase (MTHFR) (C677T and A1298C), methionine synthase (MTR) A2756G and methionine synthase reductase (MTRR) A66G gene polymorphisms and total homocysteine (tHcy), methylmalonic acid (MMA) and S-adenosylmethionine/ S-adenosylhomocysteine (SAM/SAH) levels; and to evaluate the potential interactions with folate or cobalamin (Cbl) status. Subjects/ Methods: Two hundred seventy-five healthy women at labor who delivered full-term normal babies. Cbl, folate, tHcy, MMA, SAM and SAH were measured in serum specimens. The genotypes for polymorphisms were determined by PCR-restriction fragment length polymorphism ( RFLP). Results: Serum folate, MTHFR 677T allele and MTR 2756AA genotypes were the predictors of tHcy levels in pregnant women. Serum Cbl and creatinine were the predictors of SAM/SAH ratio and MMA levels, respectively. The gene polymorphisms were not determinants for MMA levels and SAM/SAH ratios. Low levels of serum folate were associated with elevated tHcy in pregnant women, independently of the gene polymorphisms. In pregnant women carrying MTHFR 677T allele, or MTHFR 1298AA or MTRR 66AA genotypes, lower Cbl levels were associated with higher levels of tHcy. Lower SAM/SAH ratio was found in MTHFR 677CC or MTRR A2756AA genotypes carriers when Cbl levels were lower than 142 pmol/l. Conclusions: Serum folate and MTHFR C677T and MTR A2576G gene polymorphisms were the determinants for tHcy levels. The interaction between low levels of serum Cbl and MTHFR (C677T or A1298C) or MTRR A66G gene polymorphisms was associated with increased tHcy.