9 resultados para Data distribution
em Repositório digital da Fundação Getúlio Vargas - FGV
Resumo:
Nos últimos tempos, mensurar o Risco Operacional (RO) tornou-se o grande desafio para instituições financeiras no mundo todo, principalmente com a implementação das regras de alocação de capital regulatório do Novo Acordo de Capital da Basiléia (NACB). No Brasil, ao final de 2004, o Banco Central (BACEN) estabeleceu um cronograma de metas e disponibilizou uma equipe responsável pela adaptação e implementação dessas regras no sistema financeiro nacional. A Federação de Bancos Brasileiros (FEBRABAN) também divulgou recente pesquisa de gestão de RO envolvendo vários bancos. Todo esse processo trouxe uma vasta e crescente pesquisa e atividades voltadas para a modelagem de RO no Brasil. Em nosso trabalho, medimos o impacto geral nos banco brasileiros, motivado pelas novas regras de alocação de capital de RO envolvendo os modelos mais básicos do NACB. Também introduzimos um modelo avançado de mensuração de risco, chamado Loss Data Distribution (LDA), que alguns especialistas, provenientes do Risco de Mercado, convencionaram chamar de Value-at-Risk Operacional (VaR Operacional.). Ao final desse trabalho apresentamos um caso prático baseado na implementação do LDA ou VaR
Resumo:
Access has been one of the main difficulties companies have faced in emerging markets (PRAHALAD, 2005). The capillarity of the market, the existence of small, not professionalized and sometimes informal retailers, the lack of infrastructure and high transportation costs are some of the distribution challenges companies face in poorer regions. The literature concerning the Base of the Pyramid (BoP) is still recent and only after the seminal article by Prahalad and Hart (2002), it evolved into many different management perspectives. However, there is a lack of researches concerning distribution strategies to the BoP. Therefore, the main objective of this research is to identify, in the perception of executives working in the market, the conditions associated to a satisfactory distribution for the BoP market in Brazil and to build a substantive theory that helps to shed light to the understanding of the distribution phenomenon adopted by consumer goods companies to reach the BoP market in Brazil. In order to accomplish the objectives of this thesis, a grounded theory methodology (Glaser; Strauss, 1967; Corbin; Strauss, 2008) was used. This approach helped to identify the channel strategies used by local and global companies in the market. Many techniques for data collection were applied. The most important one was in-depth interviews with 26 executives from 24 different consumer goods companies in Brazil. Among the companies there were small, medium and large enterprises; which were also grouped as manufacturers, distributors and retailers. Furthermore, secondary data were examined to identify business strategies to reach BoP and map global distribution initiatives. A database from a consumer panel was also used to analyze what and where BoP consumers purchase non-durable goods. It was verified that small and traditional retailing is a very strong format in BoP markets and in the Northern/Northeastern regions. Cash & Carry is a format that is growing a lot. On the other hand, hypermarkets are not very used by low income population. The results suggest that three major categories are associated to a satisfactory distribution: (a) willingness, which means the effort, knowledge and enthusiasm a firm has to operate at BoP markets; (b) well-done execution, which is related to designing correctly the marketing channel and operating efficiently in an environment full of obstacles, such as lack of infrastructure, capillarity, lack of safety, regional differences and informality, and (c) relationship, which was perceived to be friendlier and essential at BoP markets, since it is very difficult for manufacturers to reach the entire market alone. It is more likely to have a satisfactory distribution when manufacturers establish strong relationships in the marketing channel. Besides, small retailers have a perception of isolation and expect a higher level of relationship. These major categories explain also the competitive advantage that local companies have in relation to MNCs and large companies. Despite of the limitations of an exploratory study, it is expected that this thesis will contribute to the BoP knowledge as well as to the identification of the peculiarities of distribution in BoP markets.
Resumo:
To assess the quality of school education, much of educational research is concerned with comparisons of test scores means or medians. In this paper, we shift this focus and explore test scores data by addressing some often neglected questions. In the case of Brazil, the mean of test scores in Math for students of the fourth grade has declined approximately 0,2 standard deviation in the late 1990s. But what about changes in the distribution of scores? It is unclear whether the decline was caused by deterioration in student performance in upper and/or lower tails of the distribution. To answer this question, we propose the use of the relative distribution method developed by Handcock and Morris (1999). The advantage of this methodology is that it compares two distributions of test scores data through a single distribution and synthesizes all the differences between them. Moreover, it is possible to decompose the total difference between two distributions in a level effect (changes in median) and shape effect (changes in shape of the distribution). We find that the decline of average-test scores is mainly caused by a worsening in the position of all students throughout the distribution of scores and is not only specific to any quantile of distribution.
Resumo:
Competitive Strategy literature predicts three different mechanisms of performance generation, thus distinguishing between firms that have competitive advantage, firms that have competitive disadvantage or firms that have neither. Nonetheless, previous works in the field have fitted a single normal distribution to model firm performance. Here, we develop a new approach that distinguishes among performance generating mechanisms and allows the identification of firms with competitive advantage or disadvantage. Theorizing on the positive feedback loops by which firms with competitive advantage have facilitated access to acquire new resources, we proposed a distribution we believe data on firm performance should follow. We illustrate our model by assessing its fit to data on firm performance, addressing its theoretical implications and comparing it to previous works.
Resumo:
Este trabalho explora um importante conceito desenvolvido por Breeden & Litzenberger para extrair informações contidas nas opções de juros no mercado brasileiro (Opção Sobre IDI), no âmbito da Bolsa de Valores, Mercadorias e Futuros de São Paulo (BM&FBOVESPA) dias antes e após a decisão do COPOM sobre a taxa Selic. O método consiste em determinar a distribuição de probabilidade através dos preços das opções sobre IDI, após o cálculo da superfície de volatilidade implícita, utilizando duas técnicas difundidas no mercado: Interpolação Cúbica (Spline Cubic) e Modelo de Black (1976). Serão analisados os quatro primeiros momentos da distribuição: valor esperado, variância, assimetria e curtose, assim como suas respectivas variações.
Resumo:
This paper examines the evolution of wage inequality in Brazil in the 1980s and 1990s . It tries to investigate the role played by changing economic returns to education and to experience over this period together with the evolution of within-group inequality. It applies a quantile regression approach on grouped data to the Brazilian case. Results using repeated cross-sections of a Brazilian annual household survey indicate that : i) Male wage dispersion remained basically constant overall in the 1980's and 1990' s but has increased substantially within education and age groups. ii) Returns to experience increased significantly over this period, with the rise concentrated on the iliterate/primary school group iii) Returns to college education have risen over time, whereas return to intermediate and high-school education have fallen iv) The apparent rise in within-group inequality seems to be the result of a fall in real wages, since the difference in wage leveIs has dec1ined substantially over the period, especially within the high-educated sample. v) Returns to experience rise with education. vi) Returns to education rise over the life-cycle. vii) Wage inequality increases over the life-cycle. The next step i~ this research will try to conciliate all these stylised facts.
Resumo:
This paper gives a first step toward a methodology to quantify the influences of regulation on short-run earnings dynamics. It also provides evidence on the patterns of wage adjustment adopted during the recent high inflationary experience in Brazil.The large variety of official wage indexation rules adopted in Brazil during the recent years combined with the availability of monthly surveys on labor markets makes the Brazilian case a good laboratory to test how regulation affects earnings dynamics. In particular, the combination of large sample sizes with the possibility of following the same worker through short periods of time allows to estimate the cross-sectional distribution of longitudinal statistics based on observed earnings (e.g., monthly and annual rates of change).The empirical strategy adopted here is to compare the distributions of longitudinal statistics extracted from actual earnings data with simulations generated from minimum adjustment requirements imposed by the Brazilian Wage Law. The analysis provides statistics on how binding were wage regulation schemes. The visual analysis of the distribution of wage adjustments proves useful to highlight stylized facts that may guide future empirical work.
Resumo:
This paper provides new evidence on the determinants of the allocation of the US federal budget to the states and tests the capability of congressional, electoral and partisan theories to explain such allocation. We find that socio-economic characteristics are important explanatory variables but are not sufficient to explain the disparities in the distribution of federal monies. First, prestige committee membership is not conducive to pork-barrelling. We do not find any evidence that marginal states receive more funding; on the opposite, safe states tend to be rewarded. Also, states that are historically "swing" in presidential elections tend to receive more funds. Finally, we find strong evidence supporting partisan theories of budget allocation. States whose governor has the same political affiliation of the President receive more federal funds; while states whose representatives belong to a majority opposing the president party receive less funds.
Resumo:
O Investimento Estrangeiro Direto (IED) tem desempenhado um papel importante no esforço do Brasil para tornar-se uma economia orientada para o mercado. De 1995 a 2012 o Brasil recebeu $ 511.5 bilhões de dólares em IED. Em 2012, o Brasil foi o segundo país em desenvolvimento que mais recebeu IED e o quarto no mundo (UNCTAD).Devido à concentração geográfica, os estados brasileiros que são consideravelmente menos desenvolvidos e mais pobres, são aqueles que mais precisam de investimentos e que no entanto, não têm sido receptores relevantes de IED. Em 2010, os estados com os maiores estoques de IED foram São Paulo, com 42,3 por cento do total ($ 99,9 bilhões de dólares), Rio de Janeiro com 13,3 por cento ($ 31,4 bilhões de dólares) e Minas Gerais com 10,6 por cento do total ($ 25,1 bilhões de dólares). Como pode ser observado, apenas três dos vinte e sete estados brasileiros receberam cerca de 66 por cento do total de IED destinado ao Brasil.Dada tal diferenciação na distribuição de IED entre os estados brasileiros, o presente estudo busca explicar se o benefício tributário também é determinante para o fluxo de IED, além das demais variáveis já consideradas como determinantes em outros estudos. Dada a limitação de dados, realizamos duas análises econométricas com dados em painel: 1. Usando seis variáveis chaves: tamanho do mercado consumidor, a qualidade da mão de obra, infraestrutura, custo da mão de obra, carga tributária e benefício tributário (por macro regiões), nos anos de 1995, 2000, 2005 and 2010; 2. Usando cinco variáveis: as mesmas do primeiro modelo, excluindo o custo da mão de obra (por falta de dados) e utilizando os dados de benefício tributário por estado, nos anos de 2010, 2011 e 2012.