Análise da sobre-reação e sub-reação nos ativos de primeira e segunda lina do mercado acionário brasileiro

The Behavioral Finance develop as it is perceived anomalies in these markets efficient. This fields of study can be grouped into three major groups: heuristic bias, tying the shape and inefficient markets. The present study focuses on issues concerning the heuristics of representativeness and anchoring. This study aimed to identify the then under-reaction and over-reaction, as well as the existence of symmetry in the active first and second line of the Brazilian stock market. For this, it will be use the Fuzzy Logic and the indicators that classify groups studied from the Discriminant Analysis. The highest present, indicator in the period studied, was the Liabilities / Equity, demonstrating the importance of the moment to discriminate the assets to be considered "winners" and "losers." Note that in the MLCX biases over-reaction is concentrated in the period of financial crisis, and in the remaining periods of statistically significant biases, are obtained by sub-reactions. The latter would be in times of moderate levels of uncertainty. In the Small Caps the behavioral responses in 2005 and 2007 occur in reverse to those observed in the Mid-Large Cap. Now in times of crisis would have a marked conservatism while near the end of trading on the Bovespa speaker, accompanied by an increase of negotiations, there is an overreaction by investors. The other heuristics in SMLL occurred at the end of the period studied, this being a under-reaction and the other a over-reaction and the second occurring in a period of financial-economic more positive than the first. As regards the under / over-reactivity in both types, there is detected a predominance of either, which probably be different in the context in MLCX without crisis. For the period in which such phenomena occur in a statistically significant to note that, in most cases, such phenomena occur during the periods for MLCX while in SMLL not only biases are less present as there is no concentration of these at any time . Given the above, it is believed that while detecting the presence of bias behavior at certain times, these do not tend to appear to a specific type or heuristics and while there were some indications of a seasonal pattern in Mid- Large Caps, the same behavior does not seem to be repeated in Small Caps. The tests would then suggest that momentary failures in the Efficient Market Hypothesis when tested in semistrong form as stated by Behavioral Finance. This result confirms the theory by stating that not only rationality, but also human irrationality, is limited because it would act rationally in many circumstances

Análise da sobre-reação e sub-reação nos ativos de primeira e segunda linha do mercado acionário brasileiro

The Behavioral Finance develop as it is perceived anomalies in these markets efficient. This fields of study can be grouped into three major groups: heuristic bias, tying the shape and inefficient markets. The present study focuses on issues concerning the heuristics of representativeness and anchoring. This study aimed to identify the then under-reaction and over-reaction, as well as the existence of symmetry in the active first and second line of the Brazilian stock market. For this, it will be use the Fuzzy Logic and the indicators that classify groups studied from the Discriminant Analysis. The highest present, indicator in the period studied, was the Liabilities / Equity, demonstrating the importance of the moment to discriminate the assets to be considered "winners" and "losers." Note that in the MLCX biases over-reaction is concentrated in the period of financial crisis, and in the remaining periods of statistically significant biases, are obtained by sub-reactions. The latter would be in times of moderate levels of uncertainty. In the Small Caps the behavioral responses in 2005 and 2007 occur in reverse to those observed in the Mid-Large Cap. Now in times of crisis would have a marked conservatism while near the end of trading on the Bovespa speaker, accompanied by an increase of negotiations, there is an overreaction by investors. The other heuristics in SMLL occurred at the end of the period studied, this being a under-reaction and the other a over-reaction and the second occurring in a period of financial-economic more positive than the first. As regards the under / over-reactivity in both types, there is detected a predominance of either, which probably be different in the context in MLCX without crisis. For the period in which such phenomena occur in a statistically significant to note that, in most cases, such phenomena occur during the periods for MLCX while in SMLL not only biases are less present as there is no concentration of these at any time . Given the above, it is believed that while detecting the presence of bias behavior at certain times, these do not tend to appear to a specific type or heuristics and while there were some indications of a seasonal pattern in Mid- Large Caps, the same behavior does not seem to be repeated in Small Caps. The tests would then suggest that momentary failures in the Efficient Market Hypothesis when tested in semistrong form as stated by Behavioral Finance. This result confirms the theory by stating that not only rationality, but also human irrationality, is limited because it would act rationally in many circumstances

Folha de São Paulo: o diário oficial do grande irmão

This project wants to analyze the newspaper like a collective organic intellectual thing, and its action like a conservator integral journalism, it makes it looks like a politics block. In this case, the newspaper inserts itself in a process to support the dominated fundamental class. In the same time, it searches to disqualify politically, using the news and the opinion, the sprouting of against-hegemony even untimely and distant in the historical time. Facing this proposal we take as study object the FOLHA DE S. PAULO, nowadays the most representative agency of the great conservative press. Our theoretical reference takes as base the Gramsci organic intellectual formularizations, hegemony, position´s war, integral journalism and private device of hegemony. We allow ourselves, in a subsidiary way to the Gramsci basement, using the novel 1984 written by George Orwell, as a method to explicit, in a comparative way, the manipulation of the reality by the newspaper in its activity of collective organic intellectual. The ideology is the heuristic connection point to make convergence between reality and fiction. For the intended evidences we develop analysis of the daily covering about two great accidents occurred in 2007: The landslide of part of the workmanships of the tunnel of the Companhia do Metropolitano de São Paulo-Metrô (line yellow 4). And the flying disaster involving the airbus of Transportes Aéreos Meridionais-TAM, flight 3054, also in that state. In the first accident we find endorsement of the newspaper to the São Paulo´s government, in the person of the politician actor José Serra (PSDB), representative of the conservative forces and responsible for the workmanships of the Subway, to who it tried to distance politically of the fact. In the second event, the opposition to the politician actor Luis Inácio Luis Lula da Silva and his politics block, the PT, as a possibility against-hegemonic contested, being the mentioned actor appointed as responsible for the occurrence. However, the newspaper says that it is independent and direct, and this direct action comes from the environment. In this environment, the diversity of conceptions of world would guide the publishing work, making the FOLHA DE S. PAULO to take it as a reference for the intended objective, hiding the politics block militancy

A representação social de disciplinas didático-pedagógicas no contexto da formação inicial docente: um entremear de saberes

We seek, through this study, to analyze about social representation that the students of licentiate degree course of the Federal Institute of Education, Science and Technology of Rio Grande do Norte - IFRN - have about didactic-pedagogical subjects. We utilize the Social Representations Theory (MOSCOVICI, 2009; 2012; JODELET, 2001) as a theoretical and methodological contribution and as aim, we identify this social representation and understand how it is influenced by the formation of these undergraduates. So we developed the research under the seven undergraduate classroom courses offered by IFRN, namely: Biology, Spanish, Physics, Geography, Computer Science, Mathematics and Chemistry, covering units located both in the capital and in the countryside. While methodological approach we used the Procedure of Multiple Classification (PMC) - (ROAZZI, 1995), whose realization requires a set of words achieved through of Free Technique of Words Association - FTWA - (ABRIC, 1998). For this realization we have a total of one hundred twenty (120) participants, with thirty (30) in FTWA and other stage in the realization of free classification and directed that correspond to the MPR. Achieved the empirical data, we use the analysis of content (BARDIN, 2011; FRANCO, 2007) and multidimensional (ROAZZI, 1995) for the course of his interpretation. Finally, we identify the social representation of didactic and pedagogical subjects centered around the idea that it is through these subjects that can achieve the profile of "good professional" as one who gathers knowledge and attributes required for the full development of teaching involving capabilities it and characteristics that mark the sense of professionalism. Furthermore, we found that the anchoring social representation on the understanding that these disciplines "teach the teacher to be" in the image and its objectification of the "good teacher", ie, one that reaches through the training process and experiences, qualities that make it unique and able to carry full professional. Still see that the actions of the teacher trainer affects the way students perceive, assume and engage in the study of teaching and pedagogical subjects and it reflects significantly the social representation then created

A fragilidade e suas representações para idosos domiciliados no contexto da estratégia de Saúde da Família

This study aims to analyze social representations of elders to their fragile situation at home, with the presence of one or more characteristics, as defined by the Brazilian Ministry of Health. It is a descriptive and qualitative study, based on methodological -principles of the Theory of Social Representations. Setting was the homes of elderly residents in the area ascribed to a Family Health Unit (FHU) in the city of Natal. A total of 10 elderly subjects, whose choice was intentional and according to the need for USF home visit in a period of time, considering the saturation process of the information. As collection procedures were used the semi-structured interview and participant observation in accordance with the ethical rules of Resolution No. 196/96, with the assent of the Ethics and Research UFRN. To analyze the results, it was used the thematic content analysis in the aspect of preparation of representations, focusing on the totality of the discourse of the subjects. The results indicate that most study participants felt difficult to give meaning to the terms weakness and to be weak, although many present one or more aspects of the syndrome of frailty. From the content analysis of participants speeches in this study, we achieved the following categories: fragility as illness and disease as aging, aging and frailty as causes of changes and difficulties in daily life, the presence of family life in the fragile elderly, fragility as weakness and the risk for falls, the perception of being weak like a different person in addition to the absence of fragility in elderly life. Thus, through the processes of anchoring and objectification, the "fragile being" became familiar and concrete, showing that the meaning of weakness, besides the scientific definition found in the reified universes, can be reinterpreted and built within the consensus universes. About the care received by the staff of Family Health, from the viewpoint of older people there seems to be an understanding about the role of professional nurses; on the other hand, older people often mention the role of the Community Health Agent

Busca heurística através de algoritmo genético e memético com construção de vocábulos para o problema de atribuição de localidades a anéis Sonet

Telecommunications play a key role in contemporary society. However, as new technologies are put into the market, it also grows the demanding for new products and services that depend on the offered infrastructure, making the problems of planning telecommunications networks, despite the advances in technology, increasingly larger and complex. However, many of these problems can be formulated as models of combinatorial optimization, and the use of heuristic algorithms can help solving these issues in the planning phase. In this project it was developed two pure metaheuristic implementations Genetic algorithm (GA) and Memetic Algorithm (MA) plus a third hybrid implementation Memetic Algorithm with Vocabulary Building (MA+VB) for a problem in telecommunications that is known in the literature as Problem SONET Ring Assignment Problem or SRAP. The SRAP arises during the planning stage of the physical network and it consists in the selection of connections between a number of locations (customers) in order to meet a series of restrictions on the lowest possible cost. This problem is NP-hard, so efficient exact algorithms (in polynomial complexity ) are not known and may, indeed, even exist

Algoritmo evolutivo paralelo para o problema de atribuição de localidades a anéis em redes sonet/sdh

The telecommunications play a fundamental role in the contemporary society, having as one of its main roles to give people the possibility to connect them and integrate them into society in which they operate and, therewith, accelerate development through knowledge. But as new technologies are introduced on the market, increases the demand for new products and services that depend on the infrastructure offered, making the problems of planning of telecommunication networks become increasingly large and complex. Many of these problems, however, can be formulated as combinatorial optimization models, and the use of heuristic algorithms can help solve these issues in the planning phase. This paper proposes the development of a Parallel Evolutionary Algorithm to be applied to telecommunications problem known in the literature as SONET Ring Assignment Problem SRAP. This problem is the class NP-hard and arises during the physical planning of a telecommunication network and consists of determining the connections between locations (customers), satisfying a series of constrains of the lowest possible cost. Experimental results illustrate the effectiveness of the Evolutionary Algorithm parallel, over other methods, to obtain solutions that are either optimal or very close to it

Um algoritmo híbrido para o problema de roteamento de veículos com frotas heterogêneas

This paper aims to propose a hybrid meta-heuristics for the Heterogeneous Fleet Vehicle Routing Problem (HVRP), which is a combinatorial optimization problem NP-hard, and is characterized by the use of a limited fleet consists of different vehicles with different capacities. The hybrid method developed makes use of a memetic algorithm associated with the component optimizer Vocabulary Building. The resulting hybrid meta-heuristic was implemented in the programming language C + + and computational experiments generated good results in relation to meta-heuristic applied in isolation, proving the efficiency of the proposed method.

Desenvolvimento de um modelo computacional para a ampliação do atendimento do Programa de Acessibilidade Especial Porta a Porta - PRAE

Worldwide, the demand for transportation services for persons with disabilities, the elderly, and persons with reduced mobility have increased in recent years. The population is aging, governments need to adapt to this reality, and this fact could mean business opportunities for companies. Within this context is inserted the Programa de Acessibilidade Especial porta a porta PRAE, a door to door public transportation service from the city of Natal-RN in Brazil. The research presented in this dissertation seeks to develop a programming model which can assist the process of decision making of managers of the shuttle. To that end, it was created an algorithm based on methods of generating approximate solutions known as heuristics. The purpose of the model is to increase the number of people served by the PRAE, given the available fleet, generating optimized schedules routes. The PRAE is a problem of vehicle routing and scheduling of dial-a-ride - DARP, the most complex type among the routing problems. The validation of the method of resolution was made by comparing the results derived by the model and the currently programming method. It is expected that the model is able to increase the current capacity of the service requests of transport

Um estudo de aplicação das teorias da expectativa e da ancoragem na motivação para o desempemho de alunos do ensino médio

This thesis presents a study on Tversky & Kahneman s (1974) Anchoring theory, and Vroom s (1964) Expectance theory in the context of education and students motivation. It is surveyed 424 students of a secondary and agricultural technical school in Brazil Northeast (EAJ). The survey form try to capture the Vroom s Expectance Theory constructs of Valence, Instrumentality, Expectation and Motivational Force, and also the Tversky and Kahneman Anchoring effect in terms of grade expected. The main findings suggest that the minimum grade required by the school is much strong in driving the students motivation and performance than the Expectancy Theory. It was found that the different grades required drive the students to pursue different grade in the same way

Um protocolo de comunicação multicast na camada de aplicação com Consciência de Localização

Internet applications such as media streaming, collaborative computing and massive multiplayer are on the rise,. This leads to the need for multicast communication, but unfortunately group communications support based on IP multicast has not been widely adopted due to a combination of technical and non-technical problems. Therefore, a number of different application-layer multicast schemes have been proposed in recent literature to overcome the drawbacks. In addition, these applications often behave as both providers and clients of services, being called peer-topeer applications, and where participants come and go very dynamically. Thus, servercentric architectures for membership management have well-known problems related to scalability and fault-tolerance, and even peer-to-peer traditional solutions need to have some mechanism that takes into account member's volatility. The idea of location awareness distributes the participants in the overlay network according to their proximity in the underlying network allowing a better performance. Given this context, this thesis proposes an application layer multicast protocol, called LAALM, which takes into account the actual network topology in the assembly process of the overlay network. The membership algorithm uses a new metric, IPXY, to provide location awareness through the processing of local information, and it was implemented using a distributed shared and bi-directional tree. The algorithm also has a sub-optimal heuristic to minimize the cost of membership process. The protocol has been evaluated in two ways. First, through an own simulator developed in this work, where we evaluated the quality of distribution tree by metrics such as outdegree and path length. Second, reallife scenarios were built in the ns-3 network simulator where we evaluated the network protocol performance by metrics such as stress, stretch, time to first packet and reconfiguration group time

Dedução de Funções de Alívio para Priorização de Variantes de Chaveamento Adequadas à Eliminação de Sobrecargas

Eventually, violations of voltage limits at buses or admissible loadings of transmission lines and/or power transformers may occur by the power system operation. If violations are detected in the supervision process, corrective measures may be carried out in order to eliminate them or to reduce their intensity. Loading restriction is an extreme solution and should only be adopted as the last control action. Previous researches have shown that it is possible to control constraints in electrical systems by changing the network topology, using the technique named Corrective Switching, which requires no additional costs. In previous works, the proposed calculations for verifying the ability of a switching variant in eliminating an overload in a specific branch were based on network reduction or heuristic analysis. The purpose of this work is to develop analytical derivation of linear equations to estimate current changes in a specific branch (due to switching measures) by means of few calculations. For bus-bar coupling, derivations will be based on short-circuit theory and Relief Function methodology. For bus-bar splitting, a Relief Function will be derived based on a technique of equivalent circuit. Although systems of linear equations are used to substantiate deductions, its formal solution for each variant, in real time does not become necessary. A priority list of promising variants is then assigned for final check by an exact load flow calculation and a transient analysis using ATP Alternative Transient Program. At last, results obtained by simulation in networks with different features will be presented

Metodologia estatística na solução do problema do caixeiro viajante e na avaliação de algoritmos : um estudo aplicado à transgenética computacional

The problems of combinatory optimization have involved a large number of researchers in search of approximative solutions for them, since it is generally accepted that they are unsolvable in polynomial time. Initially, these solutions were focused on heuristics. Currently, metaheuristics are used more for this task, especially those based on evolutionary algorithms. The two main contributions of this work are: the creation of what is called an -Operon- heuristic, for the construction of the information chains necessary for the implementation of transgenetic (evolutionary) algorithms, mainly using statistical methodology - the Cluster Analysis and the Principal Component Analysis; and the utilization of statistical analyses that are adequate for the evaluation of the performance of the algorithms that are developed to solve these problems. The aim of the Operon is to construct good quality dynamic information chains to promote an -intelligent- search in the space of solutions. The Traveling Salesman Problem (TSP) is intended for applications based on a transgenetic algorithmic known as ProtoG. A strategy is also proposed for the renovation of part of the chromosome population indicated by adopting a minimum limit in the coefficient of variation of the adequation function of the individuals, with calculations based on the population. Statistical methodology is used for the evaluation of the performance of four algorithms, as follows: the proposed ProtoG, two memetic algorithms and a Simulated Annealing algorithm. Three performance analyses of these algorithms are proposed. The first is accomplished through the Logistic Regression, based on the probability of finding an optimal solution for a TSP instance by the algorithm being tested. The second is accomplished through Survival Analysis, based on a probability of the time observed for its execution until an optimal solution is achieved. The third is accomplished by means of a non-parametric Analysis of Variance, considering the Percent Error of the Solution (PES) obtained by the percentage in which the solution found exceeds the best solution available in the literature. Six experiments have been conducted applied to sixty-one instances of Euclidean TSP with sizes of up to 1,655 cities. The first two experiments deal with the adjustments of four parameters used in the ProtoG algorithm in an attempt to improve its performance. The last four have been undertaken to evaluate the performance of the ProtoG in comparison to the three algorithms adopted. For these sixty-one instances, it has been concluded on the grounds of statistical tests that there is evidence that the ProtoG performs better than these three algorithms in fifty instances. In addition, for the thirty-six instances considered in the last three trials in which the performance of the algorithms was evaluated through PES, it was observed that the PES average obtained with the ProtoG was less than 1% in almost half of these instances, having reached the greatest average for one instance of 1,173 cities, with an PES average equal to 3.52%. Therefore, the ProtoG can be considered a competitive algorithm for solving the TSP, since it is not rare in the literature find PESs averages greater than 10% to be reported for instances of this size.

Navegação cooperativa de um robô humanóide e um robô com rodas usando informação visual

This work presents a cooperative navigation systemof a humanoid robot and a wheeled robot using visual information, aiming to navigate the non-instrumented humanoid robot using information obtained from the instrumented wheeled robot. Despite the humanoid not having sensors to its navigation, it can be remotely controlled by infra-red signals. Thus, the wheeled robot can control the humanoid positioning itself behind him and, through visual information, find it and navigate it. The location of the wheeled robot is obtained merging information from odometers and from landmarks detection, using the Extended Kalman Filter. The marks are visually detected, and their features are extracted by image processing. Parameters obtained by image processing are directly used in the Extended Kalman Filter. Thus, while the wheeled robot locates and navigates the humanoid, it also simultaneously calculates its own location and maps the environment (SLAM). The navigation is done through heuristic algorithms based on errors between the actual and desired pose for each robot. The main contribution of this work was the implementation of a cooperative navigation system for two robots based on visual information, which can be extended to other robotic applications, as the ability to control robots without interfering on its hardware, or attaching communication devices

Determinação de Chaveamento para Recomposição do Serviço em Redes de Distribuição de Energia Elétrica em Média Tensão Através de Métodos Baseado em Parâmetros de Sensibilidade

The reconfiguration of a distribution network is a change in its topology, aiming to provide specific operation conditions of the network, by changing the status of its switches. It can be performed regardless of any system anomaly. The service restoration is a particular case of reconfiguration and should be performed whenever there is a network failure or whenever one or more sections of a feeder have been taken out of service for maintenance. In such cases, loads that are supplied through lines sections that are downstream of portions removed for maintenance may be supplied by the closing of switches to the others feeders. By classical methods of reconfiguration, several switches may be required beyond those used to perform the restoration service. This includes switching feeders in the same substation or for substations that do not have any direct connection to the faulted feeder. These operations can cause discomfort, losses and dissatisfaction among consumers, as well as a negative reputation for the energy company. The purpose of this thesis is to develop a heuristic for reconfiguration of a distribution network, upon the occurrence of a failure in this network, making the switching only for feeders directly involved in this specific failed segment, considering that the switching applied is related exclusively to the isolation of failed sections and bars, as well as to supply electricity to the islands generated by the condition, with significant reduction in the number of applications of load flows, due to the use of sensitivity parameters for determining voltages and currents estimated on bars and lines of the feeders directly involved with that failed segment. A comparison between this process and classical methods is performed for different test networks from the literature about networks reconfiguration