Tangibilidade, classe de ativos e estrutura de capital das empresas listadas na BM&FBOVESPA

This study aims to investigate the influence of the asset class and the breakdown of tangibility as determinant factors of the capital structure of companies listed on the BM & FBOVESPA in the period of 2008-2012. Two current assets classes were composed and once they were grouped by liquidity, they were also analyzed by the financial institutions for credit granting: current resources (Cash, Bank and Financial Applications) and operations with duplicates (Stocks and Receivables). The breakdown of the tangible assets was made based on its main components provided as warrantees for loans like Machinery & Equipment and Land & Buildings. For an analysis extension, three metrics for leverage (accounting, financial and market) were applied and the sample was divided into economic sectors, adopted by BM&FBOVESPA. The data model in dynamic panel estimated by a systemic GMM of two levels was used in this study due its strength to problems of endogenous relationship as well as the omitted variables bias. The found results suggest that current resources are determinants of the capital structure possibly because they re characterized as proxies for financial solvency, being its relationship with debt positive. The sectorial analysis confirmed the results for current resources. The tangibility of assets has inverse proportional relationship with the leverage. As it is disintegrated in its main components, the significant and negative influence of machinery & equipment was more marked in the Industrial Goods sector. This result shows that, on average, the most specific assets from operating activities of a company compete for a less use of third party resources. As complementary results, it was observed that the leverage has persistence, which is linked with the static trade-off theory. Specifically for financial leverage, it was observed that the persistence is relevant when it is controlled for the lagged current assets classes variables. The proxy variable for growth opportunities, measured by the Market -to -Book, has the sign of its contradictory coefficient. The company size has a positive relationship with debt, in favor of static trade-off theory. Profitability is the most consistent variable in all the performed estimations, showing strong negative and significant relationship with leverage, as the pecking order theory predicts

Adolescentes e policiais na orla marítima de Natal/RN: um estudo sobre representações sociais a propósito do turismo sexual

This dissertation approaches the children's sexual tourism and adolescents in the seafront of Natal/RN, in the Childhood and youth perspective and military policeman. It analyzes the sexual tourism as development source and of exploration, analyzing your dimensions in reality of Natal/RN, taking as empiric universe your urban seafront and the Independent Company of Tourist Protection, through the cash military policeman. That discussion contemplates theoretical elements, ruled mainly in Pierre Bourdieu theoretical analyses and Michel Foucault, ally to an empiric picture that possesses great specific as the Praia do Meio, Ponta Negra, Alagamar and Praia da Redinha, where they were applied techniques of observation no systematic, rising and bibliographical revision and glimpses semi-structured the white public composed of twenty-five military policemen close to and of fifteen children and adolescents. Along the text several discussions they are accomplished aiming at the understanding of the reality of the tourism-sexual childhood-juvenile, through the study on the body, of the sexuality, of the habitus, of the stigmatization, of the public safety and of the paper military policeman in this context. For the understanding of this reality the Subject's Bus of military policemen speech was proceeded and of children and adolescents, aiming at the understanding that each segment possesses of the other, and the analysis of the speech policeman military produce the perception of considering the childhood and youth that practices the sex tourism, as people originating from of families no restructured and that live social inequalities; while the other segment notices the military policeman as arbitrary and violent system.

Podem os programas sociais e de transferência de renda influenciar a oferta de trabalho em atividades não agrícolas? uma análise para as famílias em condição de pobreza no meio rural do nordeste

This study aims to analyze the main effect of social programs and cash transfers on the labor supply of non-farm family members in poverty in rural areas of the Northeast. Among the specific objectives, we sought to investigate the effects of these programs and individual characteristics on the decision of participation and allocation of working hours of parents and children in non-agricultural activities. It was assumed, as a theoretical basis, the model of neoclassical labor supply as well as the principle that the decision of allocation of working hours, non-agricultural, is subject to the initial choice of the worker devote or not the non-agricultural employment . The hypothesis assumes that access to social programs and income transfer contributes to the dismay of rural workers, in poverty, in its decision to participate and offer hours of work in non-agricultural activities. To achieve this objective, we applied the models of Heckman (1979) and Double Hurdle, of Cragg (1971), consisting of associating the decision to participate in the labor market with the decision on the amount of hours allocated. The database used was the National Survey by Household Sampling (PNAD) of 2006. The results of the heads of households showed that transfers of income, although they may have some effect on labor supply rural nonfarm, the magnitude has to say that there may be some dependence on benefits. The estimates for the joint children of 10 to 15 years showed that the programs have negatively influenced participation in suggesting an increase in school participation, although for the allocation of working hours the results were not significant on the incidence of child labor

Os conselhos como mecanismos de democratização da política educacional :participação e poder de decisão nas ações do Conselho de Controle Social do FUNDEF no município de Parnamirim/RN

This study board the FUNDEF social control council implementation in Parnamirim/RN city, concerning their representatives participation in the accompaniment (decision power) in resort, in front of governmental politics of decentralization, unleashed in 90´s, seen in decentralization process needs the society participation in decisions of educative institutions and represent an efficient way of solve the problems difficult the educational management actions. For this, the council creation of Brazil manager configure, since the 80´s, detaching, and the single characterizing, in actual context. The objective is raise pertinent questions of thematic of representatives members participation of collegiate organs, evidencing the decision power of these, in public resource control. The theory-methodological referential the literature treat the participation and power decision of FUNDEF social control decision, such as politics directrix that rules this council. It utilizes as proceeding of collecting data the semi-structured interview and analyze of meeting register to understand the empirics of council implantation in this city, in view of that the electoral process configured in 2003, showed as a innovation, because the counselor is indicated by the local public power representatives (in this case the education municipal secretary). The research result show the representatives have difficult, to accompany the FUNDEF resources amount, particularly in concern in the financial resources (ratio) over plus. Finally, emphasize the importance of democratization in the relations between the state and civil society, elucidating and exciting reflections a: democratic participation in control of public recourses for education, educational management and civil society mobilization in access of public and cultural cash which the citizen has rights

BSmart: desenvolvimento rigoroso de aplicações Java Card com base no método formal B

Java Card technology allows the development and execution of small applications embedded in smart cards. A Java Card application is composed of an external card client and of an application in the card that implements the services available to the client by means of an Application Programming Interface (API). Usually, these applications manipulate and store important information, such as cash and confidential data of their owners. Thus, it is necessary to adopt rigor on developing a smart card application to improve its quality and trustworthiness. The use of formal methods on the development of these applications is a way to reach these quality requirements. The B method is one of the many formal methods for system specification. The development in B starts with the functional specification of the system, continues with the application of some optional refinements to the specification and, from the last level of refinement, it is possible to generate code for some programming language. The B formalism has a good tool support and its application to Java Card is adequate since the specification and development of APIs is one of the major applications of B. The BSmart method proposed here aims to promote the rigorous development of Java Card applications up to the generation of its code, based on the refinement of its formal specification described in the B notation. This development is supported by the BSmart tool, that is composed of some programs that automate each stage of the method; and by a library of B modules and Java Card classes that model primitive types, essential Java Card API classes and reusable data structures

A utilização da informação contábil na atividade pecuária do Estado do Rio Grande do Norte: um enfoque nos demonstrativos gerados para tomada de decisão

This work deals with the cattle raising activity in Brasil, it´s importance for the stete of Rio Grande do Norte. A conceptual review is done regarding accounting information and considering it as an essencial input for economical and finantial decision making, related to the state cattle rainsing environment. It also aims to expose visions related to the role and the importance of Accounting as system that colects, treats and supplies managerial information. A brief historic of Accounting is done, emphasizing the Accounting Demonstration Structure and its use in the decision making process, as well as the contribution it has node for the cattle raising activity in Brazil. The research´s results show that accounting information is used partially in the finantial decision making process, and it is pointed out that the Inventory was the most relevant tool with 95,% of the cases, followed by the Income and Outlay reports with 85.0%,Production with 82,0% and Cost reports with 80,0%, the Demonstrative of the Cash Flow (DFC) with 82.5%, the Patrimonial Balance (PB) with 22.5%, and the Demonstrative of the Exercise Result (DER) with 20.0% of use. The research concludes that Accounting information is not throughly used in the economic and finantial decision making of the managers of cattle raising in the Rio Grande do Norte State, although, 95% of the sample consider then important. This may imply that there are diffilculties in measurement of the managerial decisions as well as the business whole

Avaliação econômica dos incentivos fiscais e financeiros: uma análise das empresas industriais têxteis localizadas no Rio Grande do Norte, no período de 1999 a 2003

This study has as main objective to verify the effect of the tax and financial incentives granted by the brazilian states, specially in the reduction of ICMS on the investment decision of the entities, which in the last years led to the companies to decide new projects in based on the region that presented the better infrastructure beyond lesser tributary expense. For in such was made an economic valuation of the companies with focus in the beneficiary s optics using an adaptation of the Discounted Cash Flow method to measure the impact of the tax incentives in the value of the companies, this study selected the textile industry segment located in the State of Rio Grande do Norte, Brazil. The results indicated that such incentives created addition in the value of the companies, however the inexistence of incentives would not be enough to a negative decision of investment in the Rio Grande do Norte. The smallest difference between the value with and without incentive observed was 8.9%, and the biggest 31.7%, and the average of value aggregation with the tax incentives represented 18.9%

Avaliação das condicionalidades em saúde do Programa Bolsa Família

The programs of conditional cash transfer are widespread in developing countries in Latin America with emphasis on Brazil as a new paradigm in social p olicies for poverty eradication . Consist of transferring monetary funds from the government directly to poor families by fulfilling the condition alities on education and health . In health, even wi th variations between countries , conditionality targeting public pregnant women and children with a view to improving health indic ators maternoinfantil as growth , infant mortality and prenatal care. The objectives of this study are to compare the transfer progr am conditional Brazilian income , the Family and similar programs in Latin A merica in relation to it s effects on growth in children , and to evaluate the effect of Bolsa Família in the prevalence of use of services ( conditionalities ) of prenatal care in Brazilian health services whose teams joined the Programa de Acesso e Melhoria da Qualidade da Atenção Básica (PMAQ - AB) . For the first objective a systematic review , we selec ted ten articles between 1007 ( one thousand and seven ) found in the databases Embase , PubMed, Scopus , Scielo and Lilacs databases was performed . Articles are ob servational epidemiological studies of transverse descriptive and analytical types of cohort and case - co ntrol. For the second objective, for it is a prevalence study , a statistical analysis using Poisson regression with robust variance was performed to i nvestigate how the prevalence of compliance with conditionalities on health was influenced b y various explanatory variables . Ratios , crude and adjusted prevalence , with their respective confidence i ntervals of 95 % were estimated . The family joined the sch olarship program was considered as the main expo sure variable . Confounding variables were: maternal age , race / color, paid employment , marital status and region of residence . In d ata analysis software R 3.0.1 (RDevelopment Core Team 2013 ) was used . Rega rding the comparison of the Bolsa Família with other programs in Latin America , the review found similar results regarding the positive effect of income transfer in the nutritional status o f beneficiary children programs , and these effects are more evident in children under two years old and belonging to familie s of lower socioeconomic status . For the prevalence of conditionalities entres different groups of users of the Bolsa Família and nonusers results showed no statistically significant difference betwe en respondents (with children under two years ) registered and not registered in PBF on issues relating to: me et at least six prenatal visits , meet and participate in health education activities . It follows from side to increase minimum income for families in extreme poverty showed positive impact on children's health in Brazil and Latin America. The o ther is not confirmed in Brazil , an increase in conditionality expressed in use of primary care by the user s of the Bolsa Família services.

Tangibilidade, classe de ativos e estrutura de capital das empresas listadas na BM&FBOVESPA

This study aims to investigate the influence of the asset class and the breakdown of tangibility as determinant factors of the capital structure of companies listed on the BM & FBOVESPA in the period of 2008-2012. Two current assets classes were composed and once they were grouped by liquidity, they were also analyzed by the financial institutions for credit granting: current resources (Cash, Bank and Financial Applications) and operations with duplicates (Stocks and Receivables). The breakdown of the tangible assets was made based on its main components provided as warrantees for loans like Machinery & Equipment and Land & Buildings. For an analysis extension, three metrics for leverage (accounting, financial and market) were applied and the sample was divided into economic sectors, adopted by BM&FBOVESPA. The data model in dynamic panel estimated by a systemic GMM of two levels was used in this study due its strength to problems of endogenous relationship as well as the omitted variables bias. The found results suggest that current resources are determinants of the capital structure possibly because they re characterized as proxies for financial solvency, being its relationship with debt positive. The sectorial analysis confirmed the results for current resources. The tangibility of assets has inverse proportional relationship with the leverage. As it is disintegrated in its main components, the significant and negative influence of machinery & equipment was more marked in the Industrial Goods sector. This result shows that, on average, the most specific assets from operating activities of a company compete for a less use of third party resources. As complementary results, it was observed that the leverage has persistence, which is linked with the static trade-off theory. Specifically for financial leverage, it was observed that the persistence is relevant when it is controlled for the lagged current assets classes variables. The proxy variable for growth opportunities, measured by the Market -to -Book, has the sign of its contradictory coefficient. The company size has a positive relationship with debt, in favor of static trade-off theory. Profitability is the most consistent variable in all the performed estimations, showing strong negative and significant relationship with leverage, as the pecking order theory predicts