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

O Trabalho e o labirinto da responsabilidade socioempresarial:a experiência da cidadania empresarial do Banco do Brasil

In the current systemic crisis, economic policy is directed to correct the consequences of the functioning of this metabolism, but within the limits of the capital. From this perspective, decision makers propose trade policies, agricultural and industrial to ensure conditions for economic growth. However, as a dead end, there is failure of the State in giving efficacy to the operation of all segments of the economy, especially given the budget constraint. Public managers are forced to seek external resources, resuming the cycle of political allegiance to the interests of international financial and banking representatives, installed in so-called multilateral. The complex ideological capital comes into play in trying to convince society that the paths taken by governments are inevitable, and that capitalism can be "humanized", even with the realization of the growing inequalities caused by historical irrationalism of the production process of capital . In this sense, emerging concepts that attempt to demonstrate the compatibility of the system to real human needs. This ideological offensive is intended to legitimize the capital. The so-called third sector has a special highlight with the concept of corporate social responsibility. It creates a political environment in which the inevitable mix-up with new illusions offered by and often funding the metabolism of capital in order to perpetuate this system. In this context, political elites, and considerable portions of the academy, embark on "waves of capitalist optimism," while the sociometabolismo capital expands its historical limits, driving forces postponing their collapse, but that cause human suffering and ecological stress. Wars are disseminated to strengthen the deadly war industry and the automobile industry; and devastating the environment of which depends the capital system. In this scenario disassemble, propositions emerge around a "new social pact" in order to minimize the adverse effects of the dynamics of reproduction of capital. The business class is called to exercise its role through the discourse that appeals to social responsibility programs, in order to intervene directly in the "social question". The core of this research is precisely this point. Although there is considerable scholarship on the phenomenon of Social Responsibility and Corporate Citizenship, there is also an evident lack of this approach focused on the banking sector in Brazil. The importance of rentier capital increased ownership of shares in the wealth produced by all of Brazilian society, justifies a sociological research project on Social Responsibility in the domestic financial sector. In this sense, it was decided to perform a dynamic approach to the "Corporate Citizenship" in the banking industry, specifically in the Bank of Brazil. As this is a key institution, is important analyze of the impacts of this strategy fetish of capitalist reproduction, in order to evaluate the social legitimization of rentier capital in Brazil. In this scenario of the abundance of the discourse on social responsibility there exist a progressive impoverishment of professional work in this segment in Brazil. There is a dramatic mismatch between rhetoric and practice because of the trend of deepening vulnerability of the working conditions of the Brazilian bank worker, from the 1990's. In the specific case of the Bank of Brazil, the first initiative of the institution was to conform to the principles of the UNO and the Ethos Institute, aiming to align their domestic policies to this new strategy of domination of capital. The purpose is to place the Bank in the ideological sphere of corporate social responsibility, just as with its partners in the private financial intercapitalist competition. Indeed, in the internal ambit of the Bank of Brazil, there is a policy to adjust its functional segments to the doctrine of Social Corporate Responsibility. The concepts of this doctrine is presented as something inexorable. There are no alternatives. The Bank of Brazil operates in a highly competitive market, the segment featuring the dominance of financial capital accumulation today. For this reason it can not fail to incorporate the technological advances organizational. For employees there is no alternative but to adapt to this new set of ideas proposed by the metabolism of capital

Caracterização do processo de trabalho do cirurgiãodentista na estratégia de saúde da família do município de Parnamirim-RN

Family Health Strategy (FHS), founded in 1994 has appeared to play a strategic role in the SUS construction and consolidation. It has reaffirmed its Principles and Guidelines and has elected family as core of attention. The principle that has guided the work concerns the quality of the relationship between professional and family. Thus, the FHS has the family as a subject of health-disease process, and relations with its own characteristics and can be partners in building their health and improvement of quality of life of its members and the entire community. This study aims to characterize the surgeon-dentist (SD) working process in the family health strategy, from the knowledge of the SD integration with other team members; organization of services; development of shares, changes perceived by SDs, as well as knowing the surgeon-dentist profile who is part of this strategy. The collecting tool used was a semi-structured questionnaire, in which participated 30 professionals. As for profile, most professionals were women, completed the graduation in public university and did not have any training to work by joining the FHS. Almost all have other public or private working ties. They often carry out activities with students, and occasionally do home visits. In relation to team work, in activities such as home visits, school health, community activities, among others, they sometimes seek the cooperation of other members. The way of accessing for users in the most part has occurred through the schedule. The most frequently activities made to the Centro Especialidades Odontológicas (CEO), are in Endodontics and Prosthesis. The majority of them participate in team meetings, but they do not have frequency set to happen. As for the planning and programming of activities to be conducted, most said that individually develops them. Concerning the performance of their duties, most reported being satisfied, but that improvements could happen. Besides, they reported improvements in dental care following the inclusion of SD in the FHS in various aspects, such as access, organization, humanization, care and oral disease prevention. The professionals had poor integration with other team members, in addition to have a profile to more individualistic work, a fact seized by way of development and planning of actions. They work the actions in individual and curative way, in detriment promotion and collective ones. They work humanization, definition of territory and adscript population. Thus, it is concluded that the working process developed by SDs, includes the part which is advocated by FHS. This points out to a greater undertaking of this process aiming to detect the weakness met in order to reach the potential that the FHS represents in organization of basic attention

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

On the use of transgenic mice and optogenetics to characterize genetically defined subpopulations of neurons

Neuroscientists have a variety of perspectives with which to classify different parts of the brain. With the rise of genetic-based techniques such as optogenetics, it is increasingly important to identify whether a group of cells, defined by morphology, function or anatomical location possesses a distinct pattern of expression of one or more genetic promoters. This would allow for better ways to study of these genetically defined subpopulations of neurons. In this work, I present a theoretical discussion and threeexperimental studies in which this was the main question being addressed. Paper I discusses the issues involved in selecting a promoter to study structures and subpopulations in the Ventral Tegmental Area. Paper II characterizes a subpopulation of cells in the Ventral Tegmental Area that shares the expression of a promoter and is anatomically very restricted, and induces aversion when stimulated. Paper III utilizes a similar strategy to investigate a subpopulation in the subthalamic nucleus that expresses PITX2 and VGLUT2 which, when inactivated, causes hyperlocomotion. Paper IV exploits the fact that a previously identified group of cells in the ventral hippocampus expresses CHRNA2, and indicates that this population may be necessary and sufficient for the establishment of the theta rhythm (2-8 Hz) in the Local Field Potential of anesthetized mice. All of these studies were guided by the same strategy of characterizing and studying the role of a genetically defined subpopulation of cells, and they demonstrate the different ways in which this approach can generate new discoveries.