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

A mídia impressa sergipana nas eleições para governador em 2006: cobertura do Cinform, correio de Sergipe e jornal da cidade

The elections for governor in 2006 with its victory Marcelo Déda Workers Party (PT), were a landmark in the state of Sergipe, for the first time, called progressive fronts (an alliance of parties formed mostly by origin of the left) broke the hegemony of two political groups, Franco and the Alves, whose direction was in force for over 30 years. This study proceeds on the assumption that the print media has certain standards of conduct in covering the election period. Therefore, this study seeks to quantify, classify and compare data from three newspapers more representative of the State of Sergipe (Cinform, Cidade Journal and Correio de Sergipe) to analyze the behavior of these journals, such as private apparatus of hegemony in election coverage 2006. It also uses the concept of hegemony Gramsci and theories of journalism framing (Entman and Porto) and agenda setting (McCombs and Shaw) to identify these patterns

A guerra midiática contra a Venezuela de Hugo Chavez: a cobertura da revista veja (1998-2002)

A pretensão deste trabalho foi o de analisar o discurso da revista semanal Veja sobre o governo de Hugo Chávez Frías, atual presidente da República Bolivariana da Venezuela. Através da leitura das reportagens, procuramos apresentar o comportamento da revista em relação ao se governo e a forma que sua política é classificada, representada. Reunimos edições da revista, entre 1998 a 2002, início do seu governo - eleito em dezembro de 1998, toma posse no início de 1999, período da tentativa de golpe (frustrada) em abril de 2002. O trabalho procura mostrar como as matérias não são isentas e que há um claro posicionamento ideológico da revista, que se insere no conjunto mais geral da mídia conservadora e anti-Chávez. O presidente, eleito e reeleito democraticamente, aparece sempre nas diversas reportagens da revista caracterizado como golpista, ditador, populista, fanfarrão. O nosso objetivo é o de revelar como Veja criou uma imagem negativa do presidente da Venezuela, coerente com os princípios neoliberais defendidos pela revista. A Venezuela com Hugo Chávez, com a chamada Revolução Bolivariana , realiza uma experiência singular de governo num país de larga tradição antidemocrática e afirma caminhar na contracorrente do pensamento hegemônico neoliberal. Em contrapartida, a revista Veja se apresenta com um representante da burguesia financeira e importante sujeito na construção e continuidade do neoliberalismo

Avaliação da cobertura e monitoramento do branqueamento de corais nos

Coral bleaching has been increasingly the focus of research around the world since the early 1980s, when it was verified to be increasing in frequency, intensity and amount of areas affected. The phenomenon has been recorded since 1993, associated with elevation of the sea surface temperature due to El Niños and water thermal anomalies, according to most reports around the world. On the coast of Rio Grande do Norte, Brazil, a mass coral bleaching event was recorded in the Environmental Protection Area of Coral Reefs (APARC) during March and April 2010, when the water temperature reached 34°C for several days. About 80% of the corals in Maracajaú reef-complex exhibited partial or total bleaching. The aims of this study were to verify representativeness of coral coverage and how the bleaching dynamic has developed among different species. Coral coverage was estimated according to Reef Check Brazil protocol associated with quadrant method, and bleaching was evaluated from biweekly visual surveys in 80 colonies of Favia gravida, Porites astreoides, Siderastrea stellata and Millepora alcicornis. At the same time temperature, pH, salinity and horizontal transparency, as well as mortality and disease occurrence were monitored. Analysis of variance and Multiple Regression from the perspective of time lag concept were used to evaluate the bleaching dynamics among species and the relationship between variation of means of bleaching and variations of abiotic parameters, respectively. Species showed significant differences among themselves as to variation of means of bleaching over time, but the dynamic of variation exhibited similar patterns

Desempenho de um painel fotovoltaico de baixa tensão, acoplado ao protótipo de um conversor dc/dc topologia Booster

Low voltage solar panels increase the reliability of solar panels due to reduction of in series associations the configurations of photovoltaic cells. The low voltage generation requires DCDC converters devices with high efficiency, enabling raise and regulate the output voltage. This study analyzes the performance of a photovoltaic panel of Solarex, MSX model 77, configured to generate an open circuit voltage of 10.5 V, with load voltage of 8.5 V, with short circuit current of 9 A and a power of 77 W. The solar panel was assembled in the isolated photovoltaic system configuration, with and without energy storage as an interface with a DCDC converter, Booster topology. The converter was designed and fabricated using SMD (Surface Mounted Devices) technology IC (integrated circuit) that regulates its output voltage at 14.2 V, with an efficiency of 87% and providing the load a maximum power of 20.88 W. The system was installed and instrumented for measurement and acquisition of the following data: luminosities, average global radiation (data of INPE Instituto Nacional de Pesquisas Espaciais), solar panel and environment temperatures, solar panel and DC-DC converter output voltages, panel, inverter, and battery charge output currents. The photovoltaic system was initially tested in the laboratory (simulating its functioning in ideal conditions of operation) and then subjected to testing in real field conditions. The panel inclination angle was set at 5.5°, consistent with the latitude of Natal city. Factors such as climatic conditions (simultaneous variations of temperature, solar luminosities and ra diation on the panel), values of load resistance, lower limit of the maximum power required by the load (20.88 W) were predominant factors that panel does not operate with energy efficiency levels greater than 5 to 6%. The average converter efficiency designed in the field test reached 95%

Impactos do estresse salino e da cobertura morta nas características químicas do solo e no desenvolvimento do amaranto

Availability of good quality water has been reduced vertiginously, over the last decade, in the world. In some regions, the water resources have high concentration of the dissolved salts, these characteristics of the water make it s use impossible. Water quality can be a limitation for irrigated agriculture, principally in regions of arid or semiarid climate where the water resources are generally saline and are exposed at high evaporation ratio. For that reason, precipitation of the salts occurs near the soil surface and those salts themselves cumulate in the vegetal tissue, reducing the soil fertility and crop production. The adoption of tolerant crop to the water salinity and soil salinity, adaptable to the climatic conditions is other emergent necessity. This work had the goal of studying the effects of four salinity levels of the irrigation water salinity and use of mulch, dried leaves of Forest mangrove (Acacia mangiumWilld), in cultivated soil with amaranth (Amaranthus cruentus, BRS Alegria variety), in greenhouse. It was utilized the transplant of plants to PVC columns, containing 30 kg of silty loam soil, 10 days after emerging, with space of 50 x 50 cm between lines. Treatments were composed by combination of four levels of salinity (0.147; 1.500; 3.000 e 4.500 dS m-1), obtained by addition NaCl (commercial) to irrigation water and soil with and without protection, by mulch. A factorial system 4 x 2 was used with four repetitions, totalizing 32 parcels. The concentrations of nutrients in soil solution have been evaluated, in the dry matter of the vegetal tissue (roots, stem, leaves and raceme residue), at the end of the vegetative cycle. The use of soil protection reduced time for the beginning inflorescence of plants, at the same time, the increase of the salinity delayed this phase of amaranth development. The use of the mulch effectively increased the height, stem diameter, area of the larger leaf, humidity and dry matter content and amaranth grain production. The vegetal species showed salinity tolerance to experimented levels. The adopted treatments did not affect the pH values, exchangeable cation contents, electrical conductivity of soil solution (EC1:5) and saturated extract (ECSE), and Ca+2, Mg+, Fe+2 and Mn+2 contents, in the soil solution. The increase of the salinity concentration in the irrigation water inhibited the mineralization process of the organic matter (OM) and, consequently, the efficiency in the it´s utilization by plants, at the same time, produced increase in the values of the exchangeable sodium percentage (ESP), sodium adsorption ratio (SAR) and potassium adsorption ratio (PAR), in the soil solution. Therefore, the use of the mulch did not affect the first three parameters. The protein and nutrient contents: K+, Ca+2, P, Mg+2 e Cu+2, in amaranth grains, were improved by tillage condition. The raceme residues showed chemical/nutritional composition that makes advantageous its application in animal ration. In this context, it follows that amaranth tolerate the saline stress, of the irrigation water, until 4.500 dS m-1, temperature and relative humidity of the air predominant in the experimental environment

Mídia impressa e meio ambiente: um estudo da cobertura da mortandade de peixes no estuário do Rio Potengi, Natal-RN

Environmental issues are becoming increasingly habitual to the media, particularly when calamities are involved. A feature of environmental disasters is that they disclose both environmental crises and the media limitation in reporting them. The research tried to contribute to the subject through the study of press media coverage of a large fish kill along an estuary in the State of Rio Grande do Norte, Brazil, in 2007. Thematic content analysis of newspaper reports identified the predominance of a superficial and denunciative coverage, lacking an educational perspective, and with little contribution to formation of a critical sense in readers. It also has identified the precarious treatment of those scientific concepts that could substantiate the actual causes of mortality of tons of aquatic fauna

Análise de uso e cobertura do solo no município de Parelhas/RN

The human interference in the semiarid region of Seridó Potiguar has promoted the increase of degraded areas. The economic dynamic that was established in the Seridó territory, especially after the fall of the trinomial cattle-cotton-mining in the 70s and 80s of the 20th century as pillars of the regional economy, resulted in an accelerated process of erosion of natural resources. The municipalities of the Seridó region have been spatially reordered by this new economic dynamic, marked by the growth of existing enterprises, and the development of new agricultural practices. One of the municipalities in the region that restructured its territorial space with the emergence of new agro-industrial activities was the town of Parelhas. With the demise of the trinomial cattle-cotton-mining in the 1980s, other productive activities were intensified from the 1990s, amongst them, pottery, responsible for the vegetal extraction for use as energy source. This recent economic and spatial restructuring in the region, reflected in the Parelhense municipal territory, required new productive ingredients responsible for the modification of past production relations that were based on cattle, cotton and mining. By that a process of exploring the environment was unleashed, especially the native vegetation, in an uncontrolled manner. In this context, the objective of this study was to survey and detect deforestation in the areas of Caatinga vegetation, used indiscriminately as energy supply for new agricultural practices, using remote sensing techniques based on the quantification of the Normalized Difference Vegetation Index / NDVI, Soil-Adjusted Vegetation Index / SAVI, surface temperature and rainfall data in the years 1990 and 2010. The results indicated that SAVI values above 0.2 in 1990 and 2010 represent the areas with the highest density of vegetation that occur exclusively along the major drainages in the town and areas of higher elevations. The areas between the ranges of values from 0.5 to 0.15 SAVI are areas with poor vegetation. On the other hand the highest values of temperature are distributed in the western and southeastern parts of the township, usually in places where the soil is exposed or there is sparse vegetation. The areas of bare soil decreased in extension in 2010 at 11, 6% when related to 1990, this was caused by a higher rainfall intensity in the first half of 2010, but no regeneration of vegetation occurred in some places in the western and southeastern areas of the municipality today, due to the extraction of firewood to fuel the furnaces of industries in town

Qualidade do solo da camada de cobertura final em área de disposição de resíduos no semiárido tropical

The final disposal of municipal solid waste in unsuitable areas without an infrastructure that meets the health measures and environmental protection, coupled with the lack of technical criteria in phase and decommissioning of the dump can promote environmental degradation. Alternatively to minimize the impacts of this activity for the stabilization of the area by isolating the massive waste with implementation of an adequate and finished by a layer of soil for plant growth final cover system. In this context, the present study aimed to evaluate the quality of the final cover in the area of a disabled dump the tropical semi-arid region in order to assist the process of recovery of these areas. The study area is located in the tropical semi-arid region in São João do Sabugi /RN. Soil samples were collected in the dump area and bushland as a benchmark of quality. To which they were subjected to analysis of physical attributes (particle density, bulk density, grain size and porosity), chemical properties (pH, K + , Na+ , Ca2 + , Mg2 + and Al3 + exchangeable, potential acidity, available phosphorus, sum of bases, CEC, base saturation, aluminum saturation, saturation Na + and adsorption ratio sodium, total organic carbon and total nitrogen) and total and soluble concentrations of heavy metals (Mn, Pb, Zn, Cd, Cu, Mo, Co, Cr, Ba and Ni). The differences between physical and chemical soil under native forest and final cover showing reduction of soil quality in the area off to the dump, which hinders the development of native vegetation and the recovery of the area. The absence of superior waterproofing to allow vertical transfer between the solid waste and the final cover promoted enrichment by chemical elements and heavy metals in excess can impair revegetation. Deficiencies found in the construction process of the final cover point to the need for intervention to accelerate the process of stabilization and recovery of the area of the local ecosystem

Desenvolvimento de um painel sanduíche com carga de particulado oriundo de resíduo lignocelulósico para aplicação em produtos na área de equipamentos de proteção

This work aims to study and investigate the use of a hybrid composite polymer formed with blanket aramid (Kevlar 29) fiber blanket flax fiber and particulate dry endocarp of coconut (Cocos nucifera Linn), using as matrix an epoxy resin based thermoset for use in areas of protective equipment. Besides such material is used an aluminum plate, joined to the composite by means of glue based on epoxy and araldite commercial. The manufacturing process adopted was manual lamination (Hand Lay Up) to manufacture the hybrid composite. After the composite is prepared, an aluminum plate is subjected to pressure and glued to cure the adhesive. Layers of veil will also be used to separate the particulate from the linen blanket layer without disturbing the alignment of the fibers of the blankets. To characterize the mechanical and physical behavior was manufactured a plate of 800 x 600 mm of the hybrid composite, which were removed specimens for tests of water absorption to saturation; density; impact test (Charpy) and two test specimens for ballistic testing 220 mm x 200 mm to make a comparative study between the dry state and saturated water absorption and thus see the ballistic performance of these two conditions. The test was applied to make a comparative study of fracture in these two conditions, caused by penetrating ballistic missile (38 and 380). To test the impact (Charpy) will analyze the absorbed energy, fracture appearance and lateral contraction, also in dry condition and saturation of absorbed water, thereby analyzing situations where the impact load is relevant, such as bumps and shocks produced by stone, metal or wooden bars among others. The proposed configuration, along with the tests, has the purpose, application in the fields of equipment against ballistic impact, such as helmets; bullet proof vests; shields; protective packaging and other items to be identified in this research.

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