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

Eficiência nos gastos públicos em educação fundamental: uma análise nos municípios do estado do Rio Grande do Norte, 2007 e 2011

This paper aims to measure the degree of efficiency in the allocation of public resources in education from the FUNDEB in elementary education in the towns of Rio Grande do Norte in 2007 and 2011. To do so, we must determine to evaluate the efficiency in the allocation of public resources in municipal education in the early and last grades of elementary education; verify that the towns that achieved higher levels of efficiency that were allocated the largest volumes of resources in primary education and analyze which towns reached the worst and the best levels of efficiency in the allocation of public resources in education. This is on the assumption that the relation between the educational policies of local governments and concern for efficiency in the allocation of resources in education is limited only to increase spending on education. It is intended from the model of Data Envelopment analysis, (DEA), with Variable Returns to Scale (VRS), estimate the efficiency of spending on education and municipal pubic purging the problem of outliers. Estimations show that the municipalities of Rio Grande do Norte do not allocate their resources in public elementary education efficiently

Mudanças no rural nordestino: uma análise dos determinantes da pluriatividade nas famílias rurais nordestinas, no ano de 2011

This study aims to the evaluate the determinants for rural households northeastern be pluriactive, in 2011. For this, at first, we conducted a review of national and international literature in order to get beyond the theoretical part which refers to the study of pluriactivity identify possible determinants of the phenomenon. In this rescue, it was the observed determinants could be macroeconomic in nature and / or microeconomics. Therefore, it became necessary to describe the characteristics of the region under study, the Northeast. In order to identify the determinants were two estimated Probit models, one based on the literature review and the second with a variable characteristic of the Northeast, the transfers. For this, we used the PNAD in 2011. The results indicate both the microeconomic determinants are : gender, race, age, years of education, hours worked, number of family members, per capita income, transfer the macroeconomic in nature: living conditions (water, energy, sanitation ), housing location. In addition to identifying the determinants, the Econometric model allows to know the probability of each variable on the dependent variable, which stood out: the transfer variable, gender, per capita income, number of family members, housing conditions and housing location. Therefore, it is concluded that it is the set of determinants (macro and micro) allow rural families become northeastern pluriactive. However, one can not fail to consider may also have other determinants were not captured due to the availability of data, which may be indications for future studies. In summary, the pluriactivity in the Brazilian Northeast is a phenomenon distinct from found in Europe and southern Brazil. It is a pluriactivity survival that is part of the strategies of rural households in the Northeast to ensure their social reproduction amid the poverty of the region

Impactos da certificação ISO 9000 no desempenho estratégico :um estudo em empresas brasileiras do setor químico

This thesis deals with analyzing the contribution grade of the ISO 9000 quality system to the strategic performance of the Brazilian firms in the Chemistry sector, using the Balanced Scorecard system as reference. An exploratory research is developed to get technical information about these two management systems, with emphasis in their integration. After, a quantitative research is implemented using a questionnaire, to know and to obtain necessaries data for improving statistical estimations of the multiple relationships between the variables and the strategic performance for the universe of 352 Brazilians firms that make use of ISO 9000 as quality system. The size of the sample totalized 111 firms, which represent more than 31% of the selected universe. The main results show different visions of directors and managers about the significant variables that contribute for the strategic performance of the analyzed firms. The ISO 9000 system presents a big contribution to the strategic performance, when referred by the four perspectives of the Balanced Scorecard: learning and growth; internal process; customer and financial. Better performance was verified in the learning and growth perspective and reasonable performance was verified in the financial perspective

Um algoritmo para estimação de estado em alimentadores de distribuição de energia elétrica com base no método da soma de potências

Most algorithms for state estimation based on the classical model are just adequate for use in transmission networks. Few algorithms were developed specifically for distribution systems, probably because of the little amount of data available in real time. Most overhead feeders possess just current and voltage measurements at the middle voltage bus-bar at the substation. In this way, classical algorithms are of difficult implementation, even considering off-line acquired data as pseudo-measurements. However, the necessity of automating the operation of distribution networks, mainly in regard to the selectivity of protection systems, as well to implement possibilities of load transfer maneuvers, is changing the network planning policy. In this way, some equipments incorporating telemetry and command modules have been installed in order to improve operational features, and so increasing the amount of measurement data available in real-time in the System Operation Center (SOC). This encourages the development of a state estimator model, involving real-time information and pseudo-measurements of loads, that are built from typical power factors and utilization factors (demand factors) of distribution transformers. This work reports about the development of a new state estimation method, specific for radial distribution systems. The main algorithm of the method is based on the power summation load flow. The estimation is carried out piecewise, section by section of the feeder, going from the substation to the terminal nodes. For each section, a measurement model is built, resulting in a nonlinear overdetermined equations set, whose solution is achieved by the Gaussian normal equation. The estimated variables of a section are used as pseudo-measurements for the next section. In general, a measurement set for a generic section consists of pseudo-measurements of power flows and nodal voltages obtained from the previous section or measurements in real-time, if they exist -, besides pseudomeasurements of injected powers for the power summations, whose functions are the load flow equations, assuming that the network can be represented by its single-phase equivalent. The great advantage of the algorithm is its simplicity and low computational effort. Moreover, the algorithm is very efficient, in regard to the accuracy of the estimated values. Besides the power summation state estimator, this work shows how other algorithms could be adapted to provide state estimation of middle voltage substations and networks, namely Schweppes method and an algorithm based on current proportionality, that is usually adopted for network planning tasks. Both estimators were implemented not only as alternatives for the proposed method, but also looking for getting results that give support for its validation. Once in most cases no power measurement is performed at beginning of the feeder and this is required for implementing the power summation estimations method, a new algorithm for estimating the network variables at the middle voltage bus-bar was also developed

Classificação Automática de Modulação Digital com uso de Correntropia para Ambientes de Rádio Cognitivo

Modern wireless systems employ adaptive techniques to provide high throughput while observing desired coverage, Quality of Service (QoS) and capacity. An alternative to further enhance data rate is to apply cognitive radio concepts, where a system is able to exploit unused spectrum on existing licensed bands by sensing the spectrum and opportunistically access unused portions. Techniques like Automatic Modulation Classification (AMC) could help or be vital for such scenarios. Usually, AMC implementations rely on some form of signal pre-processing, which may introduce a high computational cost or make assumptions about the received signal which may not hold (e.g. Gaussianity of noise). This work proposes a new method to perform AMC which uses a similarity measure from the Information Theoretic Learning (ITL) framework, known as correntropy coefficient. It is capable of extracting similarity measurements over a pair of random processes using higher order statistics, yielding in better similarity estimations than by using e.g. correlation coefficient. Experiments carried out by means of computer simulation show that the technique proposed in this paper presents a high rate success in classification of digital modulation, even in the presence of additive white gaussian noise (AWGN)

Interação estrela planeta: sobre o magnetismo de planetas gigantes gasosos

In this thesis we analyze the effects that the presence of a near gas giant planet can cause in its host star. It has been argued that the star planet interaction can cause changes in the coronal and chromospheric stellar activity. With this in mind, we analyze a sample of 53 extrasolar planets orbiting F, G and K main sequence stars, among them three super-Earths. In this analysis, we look for evidence of changes in the chromospheric activity due to the proximity of the giant planet. We show that, so far, there is not enough evidence to support such a hypothesis. Making use of the same sample and also taking in account available data for the Solar System, we revisit the so-called magnetic Bode s law. This law proposes the existence of a direct relationship between magnetism and rotation. By using estimations for the stellar and planetary magnetic momentM and the angular momentumL, we construct a Blackett s diagram (logL 􀀀logM). In this diagram is evident that the magnetic Bode s law is valid for both the Solar System and the new planetary systems

Estrutura genética de populações de Amphobotrys ricini, agente causal do mofo cinzento da mamoneira

The gray mold, causal organism Amphobotrys ricini, is one of the major diseases of castor bean. Difficulties in managing plant disease arises form the limited understanding of the genetic structure of A. ricini, their complexity and variability make it difficult to control. Genetic structure can be used to infer the relative impact of different forces that influence the evolution of pathogen populations, that allow to predict the potencial for pathogen populations to envolve in agricultural ecosystems. Growers protect their crop by applying fungicides, but there aren t fungicides to provide significant control of gray mold of castor bean. The objectives of this work were use RAPD to determine the genetic structure of A. ricini subpopulations in Paraíba and assay the sensitivity of A. ricini isolates to azoxystrobin and carbendazim. To determine the genetic structure of A. ricini subpopulations in Paraíba, 23 isolates were colleted from two different geographic location (subpopulation). These isolates were analysed by RAPD using 22 random decamer primers, purchased from OPERON, produced a total of 80 markers polimorphics. The resulting matrixes were analysed using PopGene version 1.32. Sensitivity to azoxystrobin and carbendazim of 30 isolates, colleted form Paraíba and Alagoas, was estimated based on spore germination and colony growth inhibition. The stock solutions were added toV8 medium after sterilization to produce final concentrations of 0, 0.01, 0.1, 1, 10, and 100 µg/ml of carbendazim and 0, 0.001, 0.01, 0.1, 1, and 10 µg/ml of azoxystrobin. All statistical analyses were performed using SAS to estimate the dose that inhibited fungal growth by 50% (ED50 values). The genetic diversity within subpopulations (Hs=0,271) accounted for 92% of the total genetic diversity (Ht=0,293), while genetic diversity between subpopulations (Gst = 0,075) represented only 7,5%. The estimated number of migrants per generation (NM ) was 6,15. Nei s average gene identity across 80 RAPD loci was 0,9468. Individual ED50 values, for the 30 isolates screened for their sensitivity to azoxystrobin, ranged From a maximum of 0,168 µg/ml to a minimum of 0,0036 µg/ml. The ED50 values for carbendazim varied within the range of 0,026 to 0,316 µg/ml

Atividades biológicas de extratos salinos de sementes de plantas da caatinga contra Aedes Aegypti e investigação da participação de proteínas bioativas

Dengue fever, currently the most important arbovirus, is transmitted by the bite of the Aedes aegypti mosquito. Given the absence of a prophylactic vaccine, the disease can only be controlled by combating the vector insect. However, increasing reports of resistance and environmental damage caused by insecticides have led to the urgent search for new safer alternatives. Twenty - um plant s eed extracts from the Caatinga were prepared , tested and characterized . Sodium phosphate ( 50 mM pH 8.0) was used as extractor. All extracts showed larvicidal and ovipositional deterrence activity . Extracts of D. grandiflora, E. contortisiliquum, A. cearenses , C. ferrea and C. retusa were able to attract females for posture when in low co ncentration . In the attractive concentrations, the CE of E. contortisiliquum and A. cearenses were able to kill 52% and 100% of the larvae respectively . The extracts of A. cearenses , P. viridiflora, E. velutina, M. urundeuva and S. brasiliensis were also pupicides, while extracts of P. viridiflora, E. velutina, E. contortisiliquum , A. cearenses, A. colubrina, D. grandiflora , B. cheilantha , S. spectabilis, C. pyramidalis, M. regnelli e G. americana displayed adulticidal activity. All extracts were toxic to C. dubia zooplankton . The EB of E. velutina and E. contortisiliquum did not affect the viability of fibroblasts . In all extracts were identified at least two potential insecticidal proteins such as enzyme inhibitors, lectins and chitin - binding proteins and components of secondary metabolism . Considering all bioassays , the extracts from A. cearenses, P. viridiflora, E. contortisiliquum , S. brasiliensis, E. velutina and M. urundeuva were considered the most promising . The E. contortisiliquum extracts was the only one who did not show pupicida activity, indicating that its mechanism of action larvicide and adulticidal is related only to the ingesti on of toxic compounds by insect , so it was selected to be fragmenting. As observed for the CE , th e protein fractions of E. contortisiliquum also showed larvicidal activity, highlighting that F2 showed higher larvicidal activity and lower en vironmental toxicity than the CE source. The reduction in the proteolytic activity of larvae fed with crude extra ct and fractions of E. contortisiliquum suggest ed that the trypsin inhibitors ( ITEc) would be resp onsible for larvicidal activity . However the increase in the purification of this inhibitor resulted in loss of larvicidal activity , but the absence of trypsin inhibitor reduced the effectiveness of the fractions , indicating that the ITEC contributes to the larvicidal activity of this extract. Not been observed larvicidal activity and adulticide in rich fraction vicilin, nor evidence of the contribution o f this molecule for the larvicidal activity of the extract. The results show the potential of seeds from plant extracts of Caatinga as a source of active molecules against insects A. aegypti at different stages of its development cycle, since they are comp osed of different active compounds, including protein nature, which act on different mechanisms should result in the death of insec

Investigando a compressão da percepção de distância em ambientes virtuais através da comparação entre dispositivos de visualização

The correct distance perception is important for executing various interactive tasks such as navigation, selection and manipulation. It is known, however, that, in general, there is a significant distance perception compression in virtual environments, mainly when using Head-Mounted Displays - HMDs. This perceived distance compression may bring various problems to the applications and even affect in a negative way the utility of those applications that depends on the correct judgment of distances. The scientific community, so far, have not been able to determine the causes of the distance perception compression in virtual environments. For this reason, it was the objective of this work to investigate, through experiments with users, the influence of both the field-of-view - FoV - and the distance estimation methods on this perceived compression. For that, an experimental comparison between the my3D device and a HMD, using 32 participants, seeking to find information on the causes of the compressed perception, was executed. The results showed that the my3D has inferior capabilities when compared to the HMD, resulting in worst estimations, on average, in both the tested estimation methods. The causes of that are believed to be the incorrect stimulus of the peripheral vision of the user, the smaller FoV and the smaller immersion sense, as described by the participants of the experiment.