Determinantes da Estrutura de Capital de Companhias Abertas Brasileiras Não-Financeiras: Um Estudo Empírico com Dados em Painel

When a company desires to invest in a project, it must obtain resources needed to make the investment. The alternatives are using firm s internal resources or obtain external resources through contracts of debt and issuance of shares. Decisions involving the composition of internal resources, debt and shares in the total resources used to finance the activities of a company related to the choice of its capital structure. Although there are studies in the area of finance on the debt determinants of firms, the issue of capital structure is still controversial. This work sought to identify the predominant factors that determine the capital structure of Brazilian share capital, non-financial firms. This work was used a quantitative approach, with application of the statistical technique of multiple linear regression on data in panel. Estimates were made by the method of ordinary least squares with model of fixed effects. About 116 companies were selected to participate in this research. The period considered is from 2003 to 2007. The variables and hypotheses tested in this study were built based on theories of capital structure and in empirical researches. Results indicate that the variables, such as risk, size, and composition of assets and firms growth influence their indebtedness. The profitability variable was not relevant to the composition of indebtedness of the companies analyzed. However, analyzing only the long-term debt, comes to the conclusion that the relevant variables are the size of firms and, especially, the composition of its assets (tangibility).This sense, the smaller the size of the undertaking or the greater the representation of fixed assets in total assets, the greater its propensity to long-term debt. Furthermore, this research could not identify a predominant theory to explain the capital structure of Brazilian

Síndrome de Burnout e autoeficácia: um estudo com profissionais de enfermagem de hospitais privados de Natal/RN

This research verifies the influence of the self-efficacy level on burnout syndrome incidence in relation to nursing professionals from private hospitals located in the Municipality of Natal, State of Rio Grande do Norte. The nature of the research was descriptive, and the used data analysis method was quantitative which was developed through SPSS computational package, version 17.0. The used instrument for the investigation was Maslach-Burnout Inventory (MBI), and the General Perceived Self-efficacy Scale (GPSES) was applied to a sample formed from 230 nursing professionals. The statistic techniques to data analysis were: frequency analysis; factor analysis; Cronbach.s alpha; Kaiser-Meyer-Olkin test (KMO); Bartlett efericity test; percentual analysis; Spearman rank correlation analysis; and simple regression. The achieved factors from factor analysis of MBI were the same, taking into account the dimensions which Maslach initially suggested to the instrument (emotional exhaustion, lack of personal realization, and depersonalization). However, one highlights that the low internal consistence of the depersonalization dimension can occur from people.s difficulty (caused by cultural aspects) of assuming this attitude in their work environment. Through GSE, it was achieved a factor which confirmed the unidimensionality showed by the author of the instrument. In relation to the syndrome incidence, it was verified that about 50% of the researched sample presented burnout syndrome evidence. Referring to self-efficacy level, about 65% of the researched sample presented low level of self-efficacy, what can be explained by the work characteristics of these professionals. In relation to the self-efficacy influence on the Burnout syndrome, it was verified that self-efficacy can be one of the aspects which influences occupational stress chronification (burnout), mainly to the personal realization dimension. Therefore, the researched hospital organizations need reflect about their attitudes in respect to their professionals, since the numbers showed a dangerous tendency regarding a predisposition to burnout syndrome of their staff, what implies not only a significant amount of individuals who can present high levels of emotional exhaustion, lack of personal realization, and depersonalization, but also the fact that this group presents low level of self-efficacy

Relação entre ciclo de vida do produto turístico e estratégias de cooperação na faixa litorânea urbana do município de Natal

Tourism in the Northeast of Brazil was introduced as an alternative economic development for the Region by federal promoting policies that focused primarily in structuring the local geographic area. With the completion of these structuring actions, mass tourism expanding the area, as well as spread actions based on cooperation and formalization of governance institutions. This study aimed to examine the relationship between the life cycle of the tourism product 'Coastal Cities of Natal and the cooperation strategies in a historical perspective. Thus was submitted to the life cycle of the tourism product 'Coastal Cities of Natal ; the major projects of tourism development were mapped, the existing cooperation strategies were characterized, and investigated the influence of the cooperation actions for the current stage of product. The specific theoretical support to tourism was built on the perspective of the Theory of Population Ecology, System of Tourism and Touristic Product Life Cycle. Regarding to cooperation the theoretical foundation addressed issues of strategy, New Forms and Collective Efficiency. The survey consisted of a causal descriptive study, using a case study. We used the qualitative and quantitative methodological approaches, and data collected by consulting of secondary data and semistructured interviews with twelve staff working in tourism in Natal. Results showed that the life cycle graph of product 'Coastal Cities of Natal is moving from one stage of growth to a stage of maturity, with a primary upward trend and with crises that are up over the graph. They have been mapped six of tourism development projects of relevance to the product: The Politics of Mega Projects, PRODETUR/NE, Municipalization National Program of Tourism, Regionalization Program, Urbanization Project Beach do Meio and Actions for the Promotion of Destiny. They have been identified sixty-four participating players in process of tourism development, which twenty were considered relevant to the respondents. The main strategies identified for cooperation were the consortium, collective strategy and clusters. Results indicated that co-operation strategies were adopted so that the benefits were obtained at the collective level, dedicated to the strengthening of Natal Destiny and its products. The main reasons were the need of cooperative marketing, international market entry and actions inducing the state. Finally, it was concluded that strategies for cooperation related to product life cycle 'Coastal Cities of Natal' as that work in the consolidation of projects for development of tourism, when the efficiency of collective action is achieved

Práticas da ti verde que contribuem para o desenvolvimento sustentável: um estudo de caso em indústrias do RN

This dissertation aims to describe the practices of Information Technology Green contributing to sustainable development, in computers and textile industries in the state of Rio Grande do Norte. The goal is to understand the importance and contribution of IT Green for sustainable development. The research methodology used involved a survey of the theoretical approach prepared, involving two case studies in industries of Rio Grande do Norte. The analysis was supported by an analysis of content, which allowed the understanding of the phenomenon of the Information Technology Green sustainable development in the case studies. In conclusion, is that the Green Information Technology contributes to sustainable development, even so through incipient aspects that highlight the competitive business with a focus on cost reduction, and efforts in sustainable practices

As relações da tríplice hélice no setor da carcinicultura do Rio Grande do Norte: uma análise a partir das abordagens da imersão social e da dependência de recursos

This work consists in a study of the Shrimp Industry in the state of Rio Grande do Norte, whose central issue relates to the understanding of how the Triple Helix (University, Government and the productive sector) interrelationship limits or expands the industry s innovation process. The study aims to understand how the Triple Helix relationship interferes in the innovation process of shrimp in Rio Grande do Norte. As the knowledge becomes the resource key for production methods, the generation of new technologies, new products and processes which demands joint and integrated action of the institutions comprising the Triple Helix: University, Government and productive sector, which possess the essential resources to innovate the process and can be maximized from cooperative relationships between the referred Institutions. Thus, in this work, it was sharply used the pioneering studies of Sabato and Botana (1968) regarding the cooperation relationship between the scientific-technological sphere, the governmental and the productive base, and studies on the Triple Helix approach, proposed by Etzkowitz and Leydesdorff (2000), in which the university has a key role in the process of technological and innovative development of countries and regions, and under which it is assigned to the very University - the character of the entrepreneurial institution, through the concept of entrepreneurial University. Aiming to overcome the criticism of Cooke (2005), regarding the limitations of the Triple Helix approach, in this study it was used - as analytical perspectives - the perspective of social immersion (Granovetter, 1985, 2005) and the theory of resources dependence (PFEFFER; SALANCIK, 1978). The analytical perspectives presented in here, despite of the different assumptions, are essential to eliminate the bias that one only approach can lead (ASTLEY; VAN DE VEM; 2007). The authors arguments focus on the fact that the integration is possible if the researcher acknowledged that different perspectives may have different descriptions of the same phenomenon. As a research strategy, this study is characterized as a study case, along with the proposed objectives - the qualitative method was used as an approach and, depending on the gathering of the sector s historical, a sectional longitudinal view approach was applied (VIEIRA, 2004). The primary and secondary data were used in order to understand the sector s evolutionary process and its inter-institutional relations - regarding the shrimp culture in Rio Grande do Norte - to promote the development, as the content was used for the technical analysis (BARDIN, 1977). The approach of social immersion and resources addiction dependence made it possible to understand that relationships are established within and between each sphere (university, government and productive sector) characterizing a network of low density relationships and strongly internal and external dependence. Based on the speech of Etzkowitz and Mello (2006), a successful Triple Helix strategy of innovation requires not only the involvement and commitment of the parts, within the institutional sphere and among them, but also the development of mechanisms to coordinate the multiple and complex interactions and interfaces, focusing on promoting both environment and context for innovation and learning; it can be acknowledge from study results that the shrimp in the State of the RN, although there are several institutional mechanisms to promote greater integration and technological development, has been presented disjointed - both internally and between the spheres - and under no legitimate practice when facing the innovational promotion and integration institutions. Due to those factors, the central institutions of the network are crucial to the promotion of innovations, spreading through their direct contacts the importance factor of the sustainable competitive activity in the world market and on the national level. However, it may be concluded, from the data, that the Triple Helix relations are interfering in a negative way on what concerns the promotion of innovations in the shrimp industry in RN

Racionalidade substantiva no processo decisório: um estudo em instituições que lidam com o tratamento oncológico infantojuvenil na cidade de Natal-RN

The present study regards an applied social research (qualitative) performed in two institutions which lead children s cancer treatment in Natal, Rio Grande do Norte. The main goal of this study is, as of a literature review at works which characterizes the first generations of study about substantive rationality, to detect Decision Making process related aspects that may serve as a basis to elaborate analysis categories from decision making process, aggregating them into a new study that may provide an advance to the theme in administrative science. The academic works based on the analysis model created by Mauricio Serva served as a basis to deep research into such theme, which verifies the predominant rationality in eleven administrative internal processes in productive organizations. This dissertation intends to go beyond the identification of the predominant rationality by elaborating new categories of analysis, and making possible the continuity of the subject in administrative science. Based on Guerreiro Ramos s work, which sees a kind of ideal organization, as known as isonomies, this study still calls upon Karl Polanyi s thoughts, which with the objective of comprehending the independent economic phenomenon of the value that allows considering non-market economies, find that the economy of the men is submerged in his social relations; it also rescues the studies from Max Weber who investigates the meaning of social action to better understand the rationality, and refers to the study of Jürgen Habermas, who proposes a broader conception about rationality, within the theory of communicative action. As a result of this theme s review, seven analysis categories of the decision making process have been formulated. They were applied in the institutions that had been chosen and helped to detect the type of predominant rationality in the categories of the decision making process. The results confirm that, although the decisions making process involves rational elements, such as information, identification of alternatives, there are also specific values of each individual with his experience and view oh the world, permeated not only by instrumental rationality, but also by substantive rationality. The study has verified that two similar institutions may show different types of rationality in the decision making process, when decision factors may tend to instrumental rationality, according to administration classic way, as well as they may emerge from substantive rationality, thus contributing to the process of emancipation of the human being in his sphere of work

Aspectos do gerenciamento de riscos de tecnologia da informação nas empresas: um estudo de caso múltiplos

The information technology - IT- benefits have been more perceived during the last decades. Both IT and business managers are dealing with subjects like governance, IT-Business alignment, information security and others on their top priorities. Talking about governance, specifically, managers are facing it with a technical approach, that gives emphasis on protection against invasions, antivirus systems, access controls and others technical issues. The IT risk management, commonly, is faced under this approach, that means, has its importance reduced and delegated to IT Departments. On the last two decades, a new IT risk management perspective raised, bringing an holistic view of IT risk to the organization. According to this new perspective, the strategies formulation process should take into account the IT risks. With the growing of IT dependence on most of organizations, the necessity of a better comprehension about the subject becomes more clear. This work shows a study in three public organizations of the Pernambuco State that investigates how those organizations manage their IT risks. Structured interviews were made with IT managers, and later, analyzed and compared with conceptual categories found in the literature. The results shows that the IT risks culture and IT governance are weakly understood and implemented on those organizations, where there are not such an IT risk methodology formally defined, neither executed. In addition, most of practices suggested in the literature were found, even without an alignment with an IT risks management process

Planejamento municipal do turismo: diretrizes e perspectivas - o caso da SETURDE

Given the uncertainties of the environment in today's world, strategic planning is again discussed as an important tool to position the organization in future likely. To address this a more dynamic and less linear, trying to adapt the multiple realities, the method of scenarios can be one of the strategies to anticipate future designs. In the public sphere, an efficient implementation of human resources and financial managers require a new approach to the formulation of strategies. Tourism, in turn, presents itself as an important segment of the national economy shaped up as a major source of funds for the formation of the Gross Domestic Product - GDP - of states and municipalities. This study aims to know the guidelines and perspectives of municipal planning of tourism in the city of Natal/RN from the case by the representatives of the sector. The survey was developed based on a qualitative, exploratory, based on the case in the Secretaria Municipal de Turismo e Desenvolvimento Econômico - SETURDE. The results express that the body goes through a time of changes in its organizational structure and in defining its role with the local tourism. The national plan for tourism and the choice of Christmas as the host city for the World Cup in 2014 have stimulated interest in developing a formal strategic planning in the organization. However, when it comes to more complex tools, such as the method of future scenarios, the technical know its definition and importance for future actions. The results presented support the conclusion that the actions are designed intuitively and without complying with the scientific methods developed for this purpose, as the method of strategic scenarios. However, the evidence beginning to emerge from the plans and documents issued by the federal government, as well as the Secretary's own initiative, direct the actions of the body to coordinate and act as a fulcrum for local action to the increase in tourism

Influência dos intermediários de distribuição de produtos turísticos no processo de decisão do meio de hospedagem pelo consumidor

This study examines the complex hotel buyer decision process in front of the tourism distribution channels. Its objective is to describe the influence level of the tourism marketing intermediaries, mainly the travel agents and tour operators, over the hotel decision process by the buyer-tourist. The data collection process was done trough a survey with three hundred brazilian tourists hosted in nineteen hotels of Natal, capital of Rio Grande do Norte, Brazil. The data analysis was done using some multivariate statistic techniques as correlation analysis, multiple regression analysis, factor analysis and multiple discriminant analysis. The research characterizes the hotel services consumers profile and his trip, and identifying the distribution channels used by them. Furthermore, the research verifies the intermediaries influence exercised over hotel buyer decision process, looking for identify causality relations between the influence level and the buyer profile. Verifies that information about hotels available on internet reduces the probability that this influence can be practiced; however it was possible identifying those consumers considers this information complementary and non-substitutes than the information from intermediaries. The characteristics of the data do not allow indentifying the factors that constraint the intermediaries influence neither identifying discriminant functions of the specific distribution channel choice by consumers. The study concludes that consumers don t agree in have been influenced by intermediaries or don t know if they have, still considering important to consult them and internet doesn t substitute their function as information source

Práticas de governança de tecnologia da informação: um estudo de caso em empresas de telecomunicações do Rio Grande do Norte

This study aims to understand the general model of governance of information technology adopted by telecommunication companies operating in Rio Grande do Norte. The research methodology used involved a theoretical and empirical approach prepared, involving two case studies on companies in the telecommunications industry working in the state of Rio Grande do Norte. The study covered the area of IT organizations, through interviews with managers responsible for the area of Telecommunications / IT. To study in accordance with the approach and address the problem of research, this study was based on qualitative criteria, which enabled the understanding of how companies adopt the governance of information technology. In conclusion, it was found that the governance practices of information technology employees are incipient, but that meet the needs of business and that they intend to implement in specific areas and use other practices of IT governance

O processo de institucionalização do curso de administração a distância da UFRN

This work aims to describe how is occurring through the process of institutionalizing the Administration distance course of UFRN. To this end, structured into two parts: through research and analysis of content, sought to impound as if gave historic process of creation, as well as identify variables isomórficas, proposed by Powell and DiMaggio (1991), on the actions undertaken, and still present, institutional actors-having been found three typologies; then investigated the process itself, analyzing the factors of institutionalization suggested Esman (1966-1972), internal structure doctrine, leadership programme, resources, links and exchanges, from the political plan educational course. As the research methodology was defined as qualitative, even though I used survey to collect, reviewed the second ANOVA. The results found in this step pointed out that only the doctrine and internal structure variables are consistent with the assumptions of model; we found for other, discharged indicated a gap between the political acts contemplated in teaching and the actions taken so far, unfavourable element to its legitimacy. However, although the implications found in the analysis of these factors suggest that this course can derive one more discontinuous Government proposal of distance course, this study believes that are still reasonable assistance to facilitate and promote the process aimed at strengthening the progress achieved so far in the success of its institutionalization

Impactos sociais da atividade turística: um estudo de caso em Tibau do Sul/RN

This study has been presented for the Master in business of the Universidade Federal do Rio Grande do Norte, the objectives are evaluate the social impacts of the tourism in the community of Tibau do Sul in the state of Rio Grande do Norte. The research is a study of case and the analysis is qualitative and quantitative. The tourism is considerate for many people as an important source of richness, job and an important economic activity. However, for being an activity that involves as main element people, It can cause impacts, could these are beneficial or malign. To evaluate the community's perception about these impacts, it was applied a questionnaire returned to the perceptions of them about the next social indicators: health, job, security, education and life quality. Considering the advent of the tourist activity in a period fifteen year. Through the research could conclude that, of general form the population realizes the changes occurred in the municipal district of positive way. Except for some indicators that receive negative evaluation

Parcerias municipais com o terceiro setor: o caso do conselho municipal dos direitos da criança e do adolescente de Natal

The relationship between the State and the non-governmental organizations (NGOs) needs to be analyzed and debated by the objective to extinguish or to reduce the existent failures in this partnership in order that the whole society may benefit from it. To understand how the partnership between the public and NGOs work is fundamental. The present study searches to contribute to a better understanding of this matter. With this aim, the research focused the partnership formed between Natal Child and Adolescent Council (COMDICA) and NGOs which were selected by public notice in 2007. Theoretical references were based on the Continuum of Collaboration proposed by Austin (2001) that serves to differentiate the degree and the mode of interaction between the two organizations. It was observed that in some points there is a lack in the interaction between COMDICA and the NGOs. The frequent change of the government counselors makes difficult a more intense involvement and partnership awareness with the NGOs. The NGOs members need to be more involved with the activities of COMDICA and search for a larger participation in the assemblies, on the discussions and on the intrinsic council actions. The relationship must also be rethought, since that the partnership must not be limited to financial resources support. The channels of communication must be improved and become more frequent. The evaluation and monitoring of social projects are poor and own methodologies need to be elaborated. Therefore, it is necessary to make some adjustments in this relationship involving not only the partnerships made by the selected ONGs, but also all those who assist the child and the adolescent. A closer relation makes possible a greater effectiveness of the public policies on one side and on the other side improves the performance of the COMDICA and the NGOs

Estudo sobre a mortalidade e sobrevivência de micro e pequenas empresas natalenses e seus impactos nas políticas públicas pró-empreendedorismo

The principal purpose of this research was to investigate discriminant factors of survival and failure of micro and small businesses, and the impacts of these factors in the public politics for entrepreneurship in the State of Rio Grande do Norte. The data were ceded by SEBRAE/RN and the Commercial Committee of the Rio Grande do Norte State and it included the businesses that were registered in 2000, 2001 and 2002. According to the theoretical framework 3 groups of factors were defined Business Financial Structure, Entrepreneurial Preparation and Entrepreneurial Behavior , and the factors were studied in order to determine whether they are discriminant or not of the survival and business failure. A quantitative research was applied and advanced statistical techniques were used multivariate data analysis , beginning with the factorial analysis and after using the discriminant analysis. As a result, canonical discriminant functions were found and they partially explained the survival and business failure in terms of the factors and groups of factors. The analysis also permitted the evaluation of the public politics for entrepreneurship and it was verified, according to the view of the entrepreneurs, that these politics were weakly effective to avoid business failure. Some changes in the referred politics were suggested based on the most significant factors found.

Estratégias internacionais da fruticultura do RN: o caso finobrasa processo e evolução

The present inquiry has as main objective to understand the process of formation of the international strategies of the exporting companies of fruits of the RN through the theory of the resource dependence. Aiming at to clarify as the companies they can carry through the process of internationalization through this theory had been study the behavior and economic theories of the process of internationalization of companies. Amongst the economic theories they are distinguished the eclectic paradigm of Dunning (1958), Vernon (1669) through the theory of the cycle of the product and Bucley and Casson (1979) with the theory of the international operations. In the mannering boarding they had been investigated the school of Upsala through Johanson and Valnhe (1977) with the concept of the increasing of the markets and in the distance psychic starts and the interaction of the purchaser-salesman of Hallen and Wiedersheim-Paul (1979). In this perspective it observes main the occured changes in the organization in function of this process, following the rules observed by the gradual ingression in the international market, having as base ways of entrances in the external market used by these companies, in view of the frist phase that the company presents of businesses. Ahead of you analyze of these theories the study searches to analyze the convergence of the concepts proclaimed for the theory of the dependence of resources (PFEFFER; SALANCIK, 1978). and strategies of internationalization of the companies. The research is characterized as qualitative case study which adopts and exploratory and analytical type, retrospective matrix. The adopted strategy is of case study and the unit of analysis consisting of the Finobrasa, pertaining company to the Vicunha Group. The main method of collection of data was halfstructuralized interview allied the documentary research that together had presented an empirical perspective of the internationalization process. The analysis and quarrel of the results understand the description and the interpretation of the one of the information through the technique of analyzes of content. Initially the historical of the exportation of fruits of the Rio Grande do Norte with the focus in the region Açu/Mossoró is presented and after that the information of the Finobrasa are presented as base of the study. The main events are identified that had constituted the phases of the strategical model of the company. It was observed that the dimensions most excellent amongst those proclaimed by the School of Uppsala had been the learning, staffs and the step-starts is sufficiently gifts in the reality of the company, as well as the aspects of strategical alliances since the consolidated relationship of the Vicunha Group create a more solid trajectory in the international market allied the conditions created windows of marked . One understands, therefore, that the investigated process still has base the theoretical theories of the internationalization strategies corroborating for the theoretical convergence of the rules proclaimed for the theory of the dependence of resources.