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

Fatores críticos de sucesso como antecedentes da aceitação de um sistema de informação em uma universidade federal

In recent decades the public sector comes under pressure in order to improve its performance. The use of Information Technology (IT) has been a tool increasingly used in reaching that goal. Thus, it has become an important issue in public organizations, particularly in institutions of higher education, determine which factors influence the acceptance and use of technology, impacting on the success of its implementation and the desired organizational results. The Technology Acceptance Model - TAM was used as the basis for this study and is based on the constructs perceived usefulness and perceived ease of use. However, when it comes to integrated management systems due to the complexity of its implementation,organizational factors were added to thus seek further explanation of the acceptance of such systems. Thus, added to the model five TAM constructs related to critical success factors in implementing ERP systems, they are: support of top management, communication, training, cooperation, and technological complexity (BUENO and SALMERON, 2008). Based on the foregoing, launches the following research problem: What factors influence the acceptance and use of SIE / module academic at the Federal University of Para, from the users' perception of teachers and technicians? The purpose of this study was to identify the influence of organizational factors, and behavioral antecedents of behavioral intention to use the SIE / module academic UFPA in the perspective of teachers and technical users. This is applied research, exploratory and descriptive, quantitative with the implementation of a survey, and data collection occurred through a structured questionnaire applied to a sample of 229 teachers and 30 technical and administrative staff. Data analysis was carried out through descriptive statistics and structural equation modeling with the technique of partial least squares (PLS). Effected primarily to assess the measurement model, which were verified reliability, convergent and discriminant validity for all indicators and constructs. Then the structural model was analyzed using the bootstrap resampling technique like. In assessing statistical significance, all hypotheses were supported. The coefficient of determination (R ²) was high or average in five of the six endogenous variables, so the model explains 47.3% of the variation in behavioral intention. It is noteworthy that among the antecedents of behavioral intention (BI) analyzed in this study, perceived usefulness is the variable that has a greater effect on behavioral intention, followed by ease of use (PEU) and attitude (AT). Among the organizational aspects (critical success factors) studied technological complexity (TC) and training (ERT) were those with greatest effect on behavioral intention to use, although these effects were lower than those produced by behavioral factors (originating from TAM). It is pointed out further that the support of senior management (TMS) showed, among all variables, the least effect on the intention to use (BI) and was followed by communications (COM) and cooperation (CO), which exert a low effect on behavioral intention (BI). Therefore, as other studies on the TAM constructs were adequate for the present research. Thus, the study contributed towards proving evidence that the Technology Acceptance Model can be applied to predict the acceptance of integrated management systems, even in public. Keywords: Technology

Crenças normativas e comportamentais e suas influências na intenção de adoção de um sistema de informação: um estudo na área de compras da UFPA

The study aims to identify the factors that influence the behavior intention to adopt an academic Information System (SIE), in an environment of mandatory use, applied in the procurement process at the Federal University of Pará (UFPA). For this, it was used a model of innovation adoption and technology acceptance (TAM), focused in attitudes and intentions regarding the behavior intention. The research was conducted a quantitative survey, through survey in a sample of 96 administrative staff of the researched institution. For data analysis, it was used structural equation modeling (SEM), using the partial least squares method (Partial Least Square PLS-PM). As to results, the constructs attitude and subjective norms were confirmed as strong predictors of behavioral intention in a pre-adoption stage. Despite the use of SIE is required, the perceived voluntariness also predicts the behavior intention. Regarding attitude, classical variables of TAM, like as ease of use and perceived usefulness, appear as the main influence of attitude towards the system. It is hoped that the results of this study may provide subsidies for more efficient management of the process of implementing systems and information technologies, particularly in public universities

O argumento de inclusão enquanto política de acesso à universidade pública

There are a great number of evidences showing that education is extremely important in many economic and social dimensions. In Brazil, education is a right guaranteed by the Federal Constitution; however, in the Brazilian legislation the right to the three stages of basic education: Kindergarten, Elementary and High School is better promoted and supported than the right to education at College level. According to educational census data (INEP, 2009), 78% of all enrolments in College education are in private schools, while the reverse is found in High School: 84% of all matriculations are in public schools, which shows a contradiction in the admission into the universities. The Brazilian scenario presents that public universities receive mostly students who performed better and were prepared in elementary and high school education in private schools, while private universities attend students who received their basic education in public schools, which are characterized as low quality. These facts have led researchers to raise the possible determinants of student performance on standardized tests, such as the Brazilian Vestibular exam, to guide the development of policies aimed at equal access to College education. Seeking inspiration in North American models of affirmative action policies, some Brazilian public universities have suggested rate policies to enable and facilitate the entry of "minorities" (blacks, pardos1, natives, people of low income and public school students) to free College education. At the Federal University of the state Rio Grande do Norte (UFRN), the first incentives for candidates from public schools emerged in 2006, being improved and widespread during the last 7 years. This study aimed to analyse and discuss the Argument of Inclution (AI) - the affirmative action policy that provides additional scoring for students from public schools. From an extensive database, the Ordinary Least Squares (OLS) technique was used as well as a Quantile Regression considering as control the variables of personal, socioeconomic and educational characteristics of the candidates from the Brazilian Vestibular exam 2010 of the Federal University of the state Rio Grande do Norte (UFRN). The results demonstrate the importance of this incentive system, besides the magnitude of other variables

A cidade sem barreiras é para todos?: avaliação das condições de deslocamento no bairro da Cidade Alta, Natal/RN

In this present work, the conditions of displacements and the behaviors of the users are evaluated, face to the physical adequacies in accessibility in the inserted area in the central quadrilateral of the Quarter of Cidade Alta, in the City of Natal/RN, space clipping established by its great meaning historical and cultural. For this reason such area was a target of an integrated actions plan during the years of 1993 and 1998, with the implantation of part of the Project CIDADE SEM BARREIRAS (City without Barriers) and, later, the implementation of the Project CIDADE PARA TODOS's proposals (City for All), having as supports the constant Brazilian norms inserted into the NB9050/1994 and in the Municipal law number 4.090/92, effective ones in the period of the interventions. Considering that the carried through actions at the time were directed to the elimination of the architectural barriers to guarantee the right to go and to come, the research received a human universe formed by all the people in situation of displacement in the central area of the interventions in the quarter of the Cidade Alta, independently of their locomotive or sensorial conditions, emphasizing the aspects most excellent how much to the accessibility of the sidewalk, as promotional of mobility, integration and urban organization, as well as of the public squares of that one quadrilateral, conceived, originally, as spaces of aggregation and social inclusion. The work appealed to the direct comment and the gotten results had been collated with the ex port facto law and technique norms, of the year of 2004, and with the legal devices contained in the Federal Decree number 5.296/2004, as way to certify the levels of efficiency of these adaptations in that it says respect to the current conditions of demanded accessibility and urban mobility

Análise bioclimática do bairro do Renascença II São Luis-MA: realidade e perspectiva do conforto térmico em espaços externos

The present research concerns about outdoor s thermal comfort conditions in hot-humid climate cities, understanding that life quality is a result of the urban object s type built for the human being in an environment with specific climate and morphological characteristics. It is presented as object of study the correlation between the neighborhood Renascença II s microclimate in São Luis /MA-Brazil, hot-humid climate city, and its urban morphological changes. As well as the thermal comfort s satisfaction level of its outdoor users. The research has as general goal to diagnosis the way these transformations caused by the urbanization influence the Renascença II s microclimate, identifying critical spots of the studied area, in order to contribute with land use recommendations based on bioclimatic architecture concepts and supply bases to urban design decisions adequate to the São Luis climate. It is presented as theoretical bases the urban climate, its concepts and elements. After that, the thermal comfort conditioners and its prediction models of thermal comfort sensation in outdoor are presented. The predictive models are presented along with bioclimatic assessment methods. Finally the use of bioclimatic assessment as an effective tool to identify places that need changes or preservation in order to seek environment quality. The applied methodology was based on the studies of Katzschner (1997), complemented by Oliveira s (1988) and Bustos Romero s (2001) studies that suggest an analysis and evaluation of maps of topography, buildings floors, land use, green areas and land covering, in order to overlap their characteristics and identify climate variable s measurements points; then a quantitative analysis of the climate variables (air temperature and humidity, wind speed and direction) of the chosen points takes place. It was perceived that Renaissance II has no permanence areas as squares or parks, its outdoor has little vegetation and presets high land impermeability and built density levels. The majority of the people interviewed said that was comfortable in a range of air temperature between 27,28ºC and 30,71ºC. The elaboration of a neighborhood master plan is important, which defines strategies for improvement of the life quality of its inhabitants

Percepção dos usuários nos espaços públicos: avaliação pós-ocupação em três praças de Natal-RN

The research investigates the acting and the importance for the users of the public squares located predominantly in residential areas. It presents the results of the posoccupation evaluations accomplished in three squares, whose physical, environmental characteristics, equipments and fumitures are different in its qualities and amounts, taking in consideration aspects related to the users' physical and psychological comfort and of the inhabitants of the I spill. The collection of data involved physical risings and of files, observations behavious, application of questionnaires and interviews, analyzed qualitative as quantitatively so much for a larger precision and validity of the investigation. The results were obtained through the relationship among the users' perception the environmental attributes and the different levels of apropriation/use of the studied places. They indicate that the aspects composicionais of physical order of the space affects the type and the intensity of use of the squares intimately, contributing positive or negatively for its valor. It is evidenced like this, that the low freqüentation of the public squares of Natal, is due mainly to referring aspects to the physical quality and the amount of the fumitures and urban equipments. It is ended that the investments and the physical planning of these public spaces should be based in the real knowledge of the aspirations of the population objective, in way to allow its largest use and valor

Influência das áreas verdes no microclima local: um estudo do conjunto habitacional Ponta Negra, Natal/RN

Owing to na intense process of urban development, urban uneasiness and discomfort in the daily life of populations have nowadays, especially in the big cities, become increasingly ordinary issues. Population density, degeneration of central areas and pollution are some of the environmental stressors the urban man is subjected to. The existence of open areas in the urban network contributes to a better movement of the air and transforms salubrity conditions. Yet, it has been noticed that parks and squares are disappearing from the heart of the city districts. In their place there are either unused plots of land where garbage has been dumped or nearly all-paved squares with meager or no vegetation at all. Such areas, when handled properly, play an important role in the city because in addition to being zones for rendering a mild climate they perform social, cultural and hygienic functions. Aiming at demonstrating that proper handling of green areas can favorably influence the local microclimate, we have attempted to develop analysis from the point of view of bioclimatizing attributes of urban form and their relationship to the local microclimate found in the eight open areas located in the Ponta Negra Housing Complex in the city of Natal/RN

Escarcéu e escassez no teatro de Mossoró: percursos e percalços de uma dramaturgia na rua

This research is a result of the theatrical Street show named A Árvore dos Mamulengos, an appropriation of the drama text by Vital Santos, this presentation was done from 1989 to 2001, with the Companhia Escarcéu de Teatro, in the city of Mossoró/RN, Brazil. The intention here is to mapping the voices and memories of actors and actresses who have experienced the performance, the developments and achievements which resulted from twelve years of the season. In our study, we consider the importance of the choice for the open space such as streets and squares as the main local for representation considering it as a catalyst factor of aesthetic choice. However, we`ve consider the option for the collaborative process as the methodology staging by interpreters, as well as, the social and cultural determinants that were taking place deeming the realization of the spectacle

A magia do cinema na praça:apropriação do espaço e sociabilidade em Salvador-BA

It s in the city spaces, molded from the uses and daily appropriations, that life is woven, as a product of the social relationships from the accumulation of history along with the present day fabric. Within this relationship, the old and the new are elements which make up this tapestry, as a result of the contribution of successive generations. The public square is seen as an example of this relationship, since it consists of a fertile space for opportunities of urban life coexistence. It is within the trace of these considerations that the present study emerges regarding the appropriation and sociability of the Tomé de Sousa Square, located in the city of Salvador, BA, having as its main focus the special relation between the cinema and the public square, as it relates to the space of the exhibition of cinematographic art. The showing of films in public squares makes possible a distinctive means of appropriation which has occurred ever since the beginning of the cinema. Today in Brazil, projects of this nature abound, which aim at presenting the seventh art to a great portion of the population which doesn t have access to conventional movie theater projection rooms. This particular Projeto Cinema na Praça Cinema in the Square Project carried out in Salvador, has become the empirical reference point for such work. This journey reveals the fascination that this great art has woven through time, attracting and charming multitudes. The cinema touches people in a special way, stirring up affectionate feelings, which are reflected in multiple social practices. Regarding this work, what stands out above all are the projections in the squares, initiatives which make it possible for the films to be watched collectively. What was taken into account in order to carry out this work were the reports of those who came regularly to watch the cinema in the Square sessions, those involved with the cinema projects team, and the film makers. To do the work, besides a bibliographical revision, observations were made of participants in the Tomé de Sousa Square, taken from semi-structured interviews with people involved with the film projection projects and those who came regularly to the cinema in the Square sessions. Also investigations were made in newspapers, printed magazines and the internet, from document and iconographic sources. The photographic documentation proved to be an important contribution to the field work. The research therefore develops from the understanding that the social practices are what make possible the uses of and the appropriation of the spaces. Within this perspective the public square emerges as a privileged locus where possibilities flourish for multiple manifestations that social practices can generate

Medo e violência na cidade: imagens, discursos e sociabilidade nas praças de João Pessoa - PB

The present work analyses and discusses the sociability in the culture of contemporary cities focusing on the theme of fear and violence in the daily life of squares in the city of João Pessoa-PB. We analyse the relations between places in town and make correlations of history and setting of neighborhoods with the process of urban growth, including recent interventions of public authorities in their public spaces. We observed in this dynamics social attitudes and actions that range from a desired peaceful coexistence to social exclusion. Thus, we discuss, based upon the imaginary vision, that the squares exist as a locus of equality, citizenship and political, and, also, as a space for everyone, despite the existence of symbolic forces working towards segregation and privatization, ruled in fear and violence. We aimed to investigate the different symbolic logics from the issue of fear and violence that allows the exclusion and the inclusion of groups and individuals in the quotidian use of public spaces of contemporary cities. We believe that the social action is demarcated by violence ant its corollary, the social fear, and operates based on the logic of a relational game always confrontational but experienced in different forms according to the social segment or group under study. We used a qualitative and quantitative methodology relating data and statistical analysis with categories created for the understanding of subjective factors. Our analyses combined ethnographic elements, periodics research and images of the city and its spaces, with the contribution of a survey that allowed comparisions of five squares of neighborhood based on the daily life under investigation. Our proposal was to deepen the investigations related to the public space of contemporary cities, expanding the look on João Pessoa and its cultural dynamics with an analysis of discourses, images, the collective imaginary and the social appropriation of the spaces based on fear and violence. The research accomplished in different areas and the analysis of images and speeches published in newspapers reports, books, advertising etc. allowed the approach of differentiated patterns of sociability in the same urban process. The neighborhoods in study are indeed spatially and economically distanced and the process of creation and construction of squares occurred in very different ways in the respective location. We defend the thesis that neighborhood community squares provide reinvigorated spaces and public spheres in the urban process and in the dynamics of sociability in the cities. These squares are also social spaces par excellence for the perception of the logic of individualism and segregation so marked by fear and violence in contemporary cities

Identificação fuzzy-multimodelos para sistemas não lineares

This paper presents a new multi-model technique of dentification in ANFIS for nonlinear systems. In this technique, the structure used is of the fuzzy Takagi-Sugeno of which the consequences are local linear models that represent the system of different points of operation and the precursors are membership functions whose adjustments are realized by the learning phase of the neuro-fuzzy ANFIS technique. The models that represent the system at different points of the operation can be found with linearization techniques like, for example, the Least Squares method that is robust against sounds and of simple application. The fuzzy system is responsible for informing the proportion of each model that should be utilized, using the membership functions. The membership functions can be adjusted by ANFIS with the use of neural network algorithms, like the back propagation error type, in such a way that the models found for each area are correctly interpolated and define an action of each model for possible entries into the system. In multi-models, the definition of action of models is known as metrics and, since this paper is based on ANFIS, it shall be denominated in ANFIS metrics. This way, ANFIS metrics is utilized to interpolate various models, composing a system to be identified. Differing from the traditional ANFIS, the created technique necessarily represents the system in various well defined regions by unaltered models whose pondered activation as per the membership functions. The selection of regions for the application of the Least Squares method is realized manually from the graphic analysis of the system behavior or from the physical characteristics of the plant. This selection serves as a base to initiate the linear model defining technique and generating the initial configuration of the membership functions. The experiments are conducted in a teaching tank, with multiple sections, designed and created to show the characteristics of the technique. The results from this tank illustrate the performance reached by the technique in task of identifying, utilizing configurations of ANFIS, comparing the developed technique with various models of simple metrics and comparing with the NNARX technique, also adapted to identification

Identificação em tempo real de modelo dinâmico de robô móvel com acionamento diferencial e zona morta

Several mobile robots show non-linear behavior, mainly due friction phenomena between the mechanical parts of the robot or between the robot and the ground. Linear models are efficient in some cases, but it is necessary take the robot non-linearity in consideration when precise displacement and positioning are desired. In this work a parametric model identification procedure for a mobile robot with differential drive that considers the dead-zone in the robot actuators is proposed. The method consists in dividing the system into Hammerstein systems and then uses the key-term separation principle to present the input-output relations which shows the parameters from both linear and non-linear blocks. The parameters are then simultaneously estimated through a recursive least squares algorithm. The results shows that is possible to identify the dead-zone thresholds together with the linear parameters

Uma proposta de um controlador adaptativo por posicionamento de pólos e estrutura variável

There are two main approaches for using in adaptive controllers. One is the so-called model reference adaptive control (MRAC), and the other is the so-called adaptive pole placement control (APPC). In MRAC, a reference model is chosen to generate the desired trajectory that the plant output has to follow, and it can require cancellation of the plant zeros. Due to its flexibility in choosing the controller design methodology (state feedback, compensator design, linear quadratic, etc.) and the adaptive law (least squares, gradient, etc.), the APPC is the most general type of adaptive control. Traditionally, it has been developed in an indirect approach and, as an advantage, it may be applied to non-minimum phase plants, because do not involve plant zero-pole cancellations. The integration to variable structure systems allows to aggregate fast transient and robustness to parametric uncertainties and disturbances, as well. In this work, a variable structure adaptive pole placement control (VS-APPC) is proposed. Therefore, new switching laws are proposed, instead of using the traditional integral adaptive laws. Additionally, simulation results for an unstable first order system and simulation and practical results for a three-phase induction motor are shown

Modelagem linear e identificação do modelo dinâmico de um robô móvel com acionamento diferencial

This work presents a modelling and identification method for a wheeled mobile robot, including the actuator dynamics. Instead of the classic modelling approach, where the robot position coordinates (x,y) are utilized as state variables (resulting in a non linear model), the proposed discrete model is based on the travelled distance increment Delta_l. Thus, the resulting model is linear and time invariant and it can be identified through classical methods such as Recursive Least Mean Squares. This approach has a problem: Delta_l can not be directly measured. In this paper, this problem is solved using an estimate of Delta_l based on a second order polynomial approximation. Experimental data were colected and the proposed method was used to identify the model of a real robot