Origens e aplicações de recursos das companhias abertas industriais e comerciais no período 1980-1985

This research had for objective to fammi1iarize the user of accounting information to an efficient instrument in the modern financiaI ana1izes of eva1uation of entities: the Statement of Sources and App1ication of Resources. This statement goes on, ti11 today, to be 1ess used by the financiaI ana1ists because it is not understood concerning its objectives, concepts of Resources and shares of to bui1d and disc10sure the statement. During the period of time between 1980 and 1985 the Brazi1's economy spent of a situation of recession to another of prosperity and growth. In the first four years of the historiaI series, the country had a recession period and it was kept unti1 the end of 1983: the national private company increased its debt degree and decreased its 1iquidity. After 1984 the economy began to grow and that was pushed by the export entities: the entities decreased its debt degree and increased its 1iquidity. The Statement of Sources and Uses of Resources has been bui1t and pub1ished in United States since the 1ast 50 years of nineteenth century, and it has been known as Statement of Funds. In Brazi1 it has just introducted after the Security Exchange Law in 1976 that put 1imits for obrigatority to disc10sure by the companies. This 1aw described, summari1y, the objective, cQII1position and manner to disc1osure. The ma in objective of the statement is to show the financiaI position of the entity. This objective envolves aspects relationed to the long-term's strategy of the company because it disclosure the policy of application of resources in long-term assets, the policy of dividends that has been used, and the structure of resources provided by long-t:erm financing, the resources of the operations, and so on. There are several means of Resources. The concept more used in Brazil is Working Capital, till for orientation of the law. Concepts as Cash and Equivalent-Cash and Net Realizable Assets can be more informatives to the users because they show informations with better complexity, including informations concerning to the short-term. Concerning to the building methods, there are three that are known: the Transations Analizing method, the T-Account method and the Work-Sheet method. AlI of them are efficient, but it's recomendable that the method used can be in accordance with the disclosured formato The statement, despite of others statements, fell \

The effects of external and internal strikes on total factor productivity

This paper examines structural changes that occur in the total factor productivity (TFP) within countries. It is possible that some episodes of high economic growth or economic decline are associated with permanent productivity shocks, therefore, this research has two objectives. The Örst one is to estimate the structural changes present in TFP for a sample of 81 countries between 1950(60) and 2000. The second one is to identify, whenever possible, episodes in the political and economic history of these countries that may account for the structural breaks in question. The results suggest that about 85% of the TFP time-series present at least one structural break, moreover, at least half the structural changes can be attributed to internal factors, such as independence or a newly adopted constitution, and about 30% to external shocks, such as oil shock or shocks in international interest rates. The majority of the estimated breaks are downwards, indicating that after a break the TFP tends to decrease, implying that institutional rearrangements, external shocks, or internal shocks may be costly and from which it is very di¢ cult to recover.