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

Análise por meio de espectroscopia de emissão óptica das espécies ativas em nitretação iônica e gaiola catódica

Plasma process like ionic nitriding and cathodic cage plasma nitriding are utilized in order to become hard surface of steels. The ionic nitriding is already accepted in the industry while cathodic cage plasma nitriding process is in industrial implementation stage. Those process depend of plasma parameters like electronic and ionic temperature (Te, Ti), species density (ne, ni) and of distribution function of these species. In the present work, the plasma used to those two processes has been observed through Optical Emission Spectroscopy OES technique in order to identify presents species in the treatment ambient and relatively quantify them. So plasma of typical mixtures like N2 H2 has been monitored through in order to study evolution of those species during the process. Moreover, it has been realized a systematic study about leaks, also thought OES, that accomplish the evolution of contaminant species arising because there is flux of atmosphere to inside nitriding chamber and in what conditions the species are sufficiently reduced. Finally, to describe the physic mechanism that acts on both coating techniques ionic nitriding and cathodic cage plasma nitriding

Implementação da rotina de unfolding para determinação de distribuição de tamanho de grãos esféricos via distribuição de interceptos lineares e de área de seção

Na unfolding method of linear intercept distributions and secction área distribution was implemented for structures with spherical grains. Although the unfolding routine depends on the grain shape, structures with spheroidal grains can also be treated by this routine. Grains of non-spheroidal shape can be treated only as approximation. A software was developed with two parts. The first part calculates the probability matrix. The second part uses this matrix and minimizes the chi-square. The results are presented with any number of size classes as required. The probability matrix was determined by means of the linear intercept and section area distributions created by computer simulation. Using curve fittings the probability matrix for spheres of any sizes could be determined. Two kinds of tests were carried out to prove the efficiency of the Technique. The theoretical tests represent ideal cases. The software was able to exactly find the proposed grain size distribution. In the second test, a structure was simulated in computer and images of its slices were used to produce the corresponding linear intercept the section area distributions. These distributions were then unfolded. This test simulates better reality. The results show deviations from the real size distribution. This deviations are caused by statistic fluctuation. The unfolding of the linear intercept distribution works perfectly, but the unfolding of section area distribution does not work due to a failure in the chi-square minimization. The minimization method uses a matrix inversion routine. The matrix generated by this procedure cannot be inverted. Other minimization method must be used

Influência dos parâmetros de processo na deposição de nitreto de titânio por plasma em gaiola catódica

Titanium nitride films were grown on glass using the Cathodic Cage Plasma Deposition technique in order to verify the influence of process parameters in optical and structural properties of the films. The plasma atmosphere used was a mixture of Ar, N2 and H2, setting the Ar and N2 gas flows at 4 and 3 sccm, respectively and H2 gas flow varied from 0, 1 to 2 sccm. The deposition process was monitored by Optical Emission Spectroscopy (OES) to investigate the influence of the active species in plasma. It was observed that increasing the H2 gas flow into the plasma the luminescent intensities associated to the species changed. In this case, the luminescence of N2 (391,4nm) species was not proportional to the increasing of the H2 gas into the reactor. Other parameters investigated were diameter and number of holes in the cage. The analysis by Grazing Incidence X-Ray Diffraction (GIXRD) confirmed that the obtained films are composed by TiN and they may have variations in the nitrogen amount into the crystal and in the crystallite size. The optical microscopy images provided information about the homogeneity of the films. The atomic force microscopy (AFM) results revealed some microstructural characteristics and surface roughness. The thickness was measured by ellipsometry. The optical properties such as transmittance and reflectance (they were measured by spectrophotometry) are very sensitive to changes in the crystal lattice of the material, chemical composition and film thicknesses. Therefore, such properties are appropriate tools for verification of this process control. In general, films obtained at 0 sccm of H2 gas flow present a higher transmittance. It can be attributed to the smaller crystalline size due to a higher amount of nitrogen in the TiN lattice. The films obtained at 1 and 2 sccm of H2 gas flow have a golden appearance and XRD pattern showed peaks characteristics of TiN with higher intensity and smaller FWHM (Full Width at Half Maximum) parameter. It suggests that the hydrogen presence in the plasma makes the films more stoichiometric and becomes it more crystalline. It was observed that with higher number of holes in the lid of the cage, close to the region between the lid and the sample and the smaller diameter of the hole, the deposited film is thicker, which is justified by the most probability of plasma species reach effectively the sample and it promotes the growth of the film

Revestimentos a base de Ta/Al2O3 produzidos por aspersão térmica sobre substrato metálico

Metal substrates were coated by thermal spraying plasma torch, they were positioned at a distance of 4 and 5 cm from the nozzle exit of the plasma jet. The starting materials were used for deposition of tantalum oxide powder and aluminium. These two materials were mixed and ground into high-energy mill, then immersed in the torch for the production of alumina coating infused with particles of tantalum with nano and micrometric size. The spraying equipment used is a plasma torch arc not transferred, which operating in the range of 250 A and 80 V, was able to produce enough heat to ignite aluminothermic between Ta2O5 and aluminum. Upon reaching the plasma jet, the mixing powders react with the heat of the blaze, which provides sufficient energy for melting aluminum particles. This energy is transferred through mechanisms of self-propagating to the oxide, beginning a reduction reaction, which then hits on the surface of the substrate and forms a coating on which a composite is formed by a junction metal - ceramic (Ta +Al2O3). The phases and quantification of each were obtained respectively by X-ray diffraction and the Rietveld method. Morphology by scanning electron microscopy and chemical analysis by energy dispersive spectroscopy EDS. It was also performed measurements of the substrate roughness, Vickers microhardness measurements in sprays and determination of the electron temperature of the plasma jet by optical emission spectroscopy EEO. The results confirmed the expectation generated around the end product of spraying the mixture Ta2O5 + Al, both in the formation of nano-sized particles and in their final form. The electron excitation temperature was consistent with the purpose of work, in addition, the thermodynamic temperature was efficient for the reduction process of Ta2O5. The electron excitation temperature showed values of 3000, 4500 and 8000 K for flows10, 20 and 30 l / min respectively, these values were taken at the nozzle exit of the plasma jet. The thermodynamic temperature around 1200 ° C, was effective in the reduction process of Ta2O5

Redução aluminotérmica do óxido de tântalo usando uma tocha de plasma como ignitor

In this work was used a plasma torch of non transferred arc with argon as work gas, using a power supply with maximum DC current of 250 A and voltage of 30 V to activate the plasma and keep it switched on. The flame temperature was characterized by optical emission spectroscopy, through Boltzmann-plot-method. The torch has been used like igniter in the aluminothermic reduction of the mixture tantalum oxide and aluminum, seeking to obtain metallic tantalum. In heating of the reagents only one particle will be considered to study interactions between plasma-particle, seeking to determinate its fusion and residence time. The early powders were characterized by laser granulometry, scanning electron microscopy (SEM) and X-ray diffraction analysis. The final product of this reaction was characterized by SEM and X-ray diffraction. Crystallite size was calculated by the Scherrer equation and microdeformation was determined using Willamsom-Hall graph. With Rietveld method was possible to quantify the percentile in weight of the products obtained in the aluminothermic reaction. Semi-quantitative chemical analysis (EDS) confirmed the presence of metallic tantalum and Al2O3 as products of the reduction. As was waited the particle size of the metallic tantalum produced, presents values in nanometric scale due the short cooling time of those particles during the process

Sobrevivência e tamanho populacional do Tiê-preto Tachyphonus Rufus (aves: thraupidae) em fragmento de restinga no extremo Norte da Mata Atlântica

For a long time, we believed in the pattern that tropical and south hemisphere species have high survival. Nowadays results began to contradict this pattern, indicating the need for further studies. Despite the advanced state of the study of bird population parameters, little is known about their variation throughout the year and the factors affecting them. Reproduction, for example, is one factor that may alter adult survival rates, because during this process the breeding pair allocates resources to maintain itself to maintain offspring, making itself more susceptible to diseases and predation. The aim of this study was to estimate survival and population size of a Central and South America passerine, Tachyphonus rufus (Boddaert, 1783), testing hypotheses about the factors that define these parameters. We performed data collection between Nov/2010 and ago/2012 in 12 ha plot, in a fragment of Atlantic Forest in northeastern Brazil. We used capture-mark-recapture methods to generate estimates using Closed Design Robust model in the program MARK. We generated Multi-state models to test some assumptions inherent to Closed Robust Design. The influence of co-variables (time, rain and reproductive cycle) and the effect of transient individuals were measured. Capture, recapture and apparent survival parameters were defined by reproductive cycle, while temporary dispersal was influence by rain. The estimates showed a higher apparent survival during the non-breeding period (92% ± 1%) than during breeding (40% ± 9%), revealing a cost of reproduction and suggesting a trade-off between surviving and reproducing. The low annual survival observed (34%) did not corroborate the pattern of high rates expected for a tropical bird. The largest population size was estimated to be 56 individuals in Nov/11, explained by high recruitment of juveniles, while the lowest observed in May/12: 10 individuals, probably as a result of massive influx of competitor species. Results from this study add to the growing literature on life history of Neotropical species. We encourage studies like this especially in Brazil, where there are few information, and suggest that covariates related to habitat quality and environmental changes should be tested, so that we can generate increasingly reliable models

Análise de retorno de escala e tamanho do mercado no desempenho de equipes de vendas aplicando análise de envoltória de dados DEA: um estudo em empresa de Telecomunicações no Brasil

This Master s Thesis proposes the application of Data Envelopment Analysis DEA to evaluate the performance of sales teams, based on a study of their coverage areas. Data was collected from the company contracted to distribute the products in the state of Ceará. Analyses of thirteen sales coverage areas were performed considering first the output-oriented constant return to scale method (CCR-O), then this method with assurance region (AR-O-C) and finally the method of variable returns to scale with assurance region (AR-O-V). The method used in the first approach is shown to be inappropriate for this study, since it inconveniently generates zero-valued weights, allowing that an area under evaluation obtain the maximal score by not producing. Using weight restrictions, through the assurance region methods AR-O-C and AR-O-V, decreasing returns to scale are identified, meaning that the improvement in performance is not proportional to the size of the areas being analyzed. Observing data generated by the analysis, a study is carried out, aiming to design improvement goals for the inefficient areas. Complementing this study, GDP data for each area was compared with scores obtained using AR-O-V analysis. The results presented in this work show that DEA is a useful methodology for assessing sales team performance and that it may contribute to improvements on the quality of the management process.

Análise do efeito do tempo da moagem de alta energia no tamanho de cristalito e microdeformação da rede cristalina do WC-Co

Hard metals are the composite developed in 1923 by Karl Schröter, with wide application because high hardness, wear resistance and toughness. It is compound by a brittle phase WC and a ductile phase Co. Mechanical properties of hardmetals are strongly dependent on the microstructure of the WC Co, and additionally affected by the microstructure of WC powders before sintering. An important feature is that the toughness and the hardness increase simultaneously with the refining of WC. Therefore, development of nanostructured WC Co hardmetal has been extensively studied. There are many methods to manufacture WC-Co hard metals, including spraying conversion process, co-precipitation, displacement reaction process, mechanochemical synthesis and high energy ball milling. High energy ball milling is a simple and efficient way of manufacturing the fine powder with nanostructure. In this process, the continuous impacts on the powders promote pronounced changes and the brittle phase is refined until nanometric scale, bring into ductile matrix, and this ductile phase is deformed, re-welded and hardened. The goal of this work was investigate the effects of highenergy milling time in the micro structural changes in the WC-Co particulate composite, particularly in the refinement of the crystallite size and lattice strain. The starting powders were WC (average particle size D50 0.87 μm) supplied by Wolfram, Berglau-u. Hutten - GMBH and Co (average particle size D50 0.93 μm) supplied by H.C.Starck. Mixing 90% WC and 10% Co in planetary ball milling at 2, 10, 20, 50, 70, 100 and 150 hours, BPR 15:1, 400 rpm. The starting powders and the milled particulate composite samples were characterized by X-ray Diffraction (XRD) and Scanning Electron Microscopy (SEM) to identify phases and morphology. The crystallite size and lattice strain were measured by Rietveld s method. This procedure allowed obtaining more precise information about the influence of each one in the microstructure. The results show that high energy milling is efficient manufacturing process of WC-Co composite, and the milling time have great influence in the microstructure of the final particles, crushing and dispersing the finely WC nanometric order in the Co particles

Diagnóstico de descarga de cátodo oco de ar e pós-descarga Ar N2 por espectroscopia de emissão óptica e espectrometria de massa

Many applications require that the plasma discharge is produced apart from the surface to be processed, thus preventing damage caused by bombardment and/or plasma radiation. In the post-discharge regime in various applications thermally sensitive materials can be used. In this work, active species produced by discharge and post-discharge hollow cathode were diagnosed by optical emission spectroscopy and mass spectrometry. The discharge was produced with the gases Ar and Ar - N2 gas flow ranging from 1 to 6 cm3/min and electric current between 150 to 600 mA. It was estimated that the ion density inside the hollow cathode, with 2 mm diameter ranged between 7.71 and 14.1 x 1015 cm-3. It was observed that the gas flow and the electric current changes the emission intensity of Ar and N2 species. The major ionic species detected by quadrupole mass spectrometry were Ar+ and N2+. The ratio of optical emission intensities of N2(1 +)/Ar(811 nm) was related to the partial pressure of N2 after the hollow cathode discharge at low pressure

Processos de aquecimento na alta atmosfera estelar: emissão coronal em raio-x e emissão cromosférica em CaII

In the present work we study the processes of heating in the high stellar atmosphere, with base in an analysis of behavior of the cromospheric and coronal emission for a sample of single stars classified as giant in the literature. The evolutionary status of the stars of the sample was determined from HIPPARCOS satellite trigonometric parallax measurements and from the Toulouse Genéve code. In this study we show the form of behavior of the CaII emission flux in spectral lines H and K F(CaII) and the X-ray emission flux in function of the rotation, number of Rossby Ro and depth in mass of the convective envelope. In this analysis we show that while the cromospheric activity is dominated clearly by a physical process of heating associated with the rotation, like a magnetic field produced by dynamo effect, the coronal activity seems to be influenced for a mechanism independent of the rotation. We show also that the effective role of the depth in massa of the convective envelope on the stellar activity has an important effect in the responsible physical process for the behavior of the activity in the atmosphere of the stars.

Determinação da composição química do molusco anadara notabilis encontrado em Galinhos no Rio Grande do Norte

Tendo em vista a grande biodiversidade existente no litoral brasileiro, onde muitas espécies ainda são pouco conhecidas, inclusive sob o aspecto nutricional, e considerando que os moluscos bivalves se constituem em um recurso natural de boa aceitação pela população mundial, escolheu-se o molusco bivalve Anadara notabilis, por não ter sido encontrado na literatura nenhuma informação nutricional ou toxicológica sobre ele e devido seu tamanho ser bem maior que outras espécies de moluscos mais popularmente encontrados nessa região. Foram determinados neste trabalho teores de umidade, cinzas, proteínas, macro e microminerais, além de íons metálicos de importância toxicológica. Todas as determinações seguiram as Normas Analíticas do Instituto Adolfo Lutz. A determinação de proteína foi realizada pelo método de Kjeldahl. Todos os íons metálicos foram determinados por espectroscopia de emissão ótica com plasma indutivamente acoplado (ICP-OES) descrito pela metodologia USEPA 6010C. Os resultados mostraram que a Anadara notabilis pode ser introduzida na alimentação dos seres humanos, tendo em vista sua riqueza mineral. Merecem destaque entre os macronutrientes o magnésio e o fósforo que apresentaram os respectivos valores em mg/kg 918,7 e 586,7. Com relação aos micronutrientes destacam-se o ferro presente com 586,7 mg/kg e o Zinco com 12,31 mg/kg. Não foi encontrado índice elevado de metais contaminantes para este molusco, o que impediria seu consumo, apenas o cromo esta 0,7 mg/kg acima do valor estabelecido pela legislação brasileira. Os resultados obtidos certamente serão muito úteis em futuras pesquisas nutricionais e para construção de uma tabela brasileira de composição química de alimentos

Determinação da composição química do molusco Anadara notabilis encontrado em Galinhos no Rio Grande do Norte

Given the large existing biodiversity in the Brazilian coast, where many species are still little known, even under the nutritional aspect, and considering that bivalve molluscs are constituted by a natural resource of well accepted by the population, chose the bivalve Anadara notabilis, it was not found in the literature any nutritional or toxicological information about it and because its size is much larger than other species of mollusks commonly found in this region. Were studied moisture, ash, protein, macro and micro minerals, and metal ions of toxicological significance. All analytical determinations followed the standards of the Institute Adolfo Lutz. The protein determination was performed by the Kjeldahl method. All metal ions were determined by optical emission spectroscopy with inductively coupled plasma (ICP-OES) method described by USEPA 6010C. The results showed that Anadara notabilis can be introduced into food for human beings, in view of its mineral wealth. Noteworthy among the macronutrients phosphorus and magnesium showed that their values in mg / kg 918.7 and 586.7. With regard to micronutrients stand out with this iron 586.7 mg / kg and zinc with 12.31 mg / kg. Was not found high content of metal contaminants to this mollusc, which would prevent their use, only this chromium 0.7 mg / kg above the value established by Brazilian legislation. The results will certainly be very useful in future studies of nutrition and to build a table of chemical composition of Brazilian foods

Espectrometria de emissão óptica com plasma indutivamente acoplado aliada à quimiometria na determinação de íons metálicos no molusco Mytella falcata para discriminação de estuários potiguares

This work examined the possibility of using mussel Mytella falcata as bioindicator sample to detect metal ions in several estuaries potiguares, since species substances that accumulate in their tissues due to its characteristics filter feeders have been used for environmental monitoring. The chemometrics by principal components analysis was used to reduce the size of the original data in order to establish a pattern of distribution of metal ion. Samples were collected at three different points in the estuaries Curimataú, Guaraíra-Papeba, Potengi, Galinhos-Guamaré and Piranhas-Assu having been marked with the location using GPS (Global Positioning System). The determination of humidity content and digestion of the samples were performed using methods described in the Compendium of analytical standards of the Institute Adofo Lutz (2005) and the determination of metal ions of the elements Al, Ba, Cd, Cr, Cu, Mn, Ni, Pb, Sn and Zn were performed by optical emission spectrometry with inductively coupled plasma as described by USEPA method 6010C. The results show that it is possible to use this molluscum Mytella falcata in the estuaries of Rio Grande do Norte for the determination of metal ions. The data were subjected to principal components analysis (PCA) which enabled us to verify the distribution pattern of the metal ions studied in several estuaries potiguares and group them according to the metal ions in common with and relate them to the activities in each region

RR3D: Uma solução para renderização remota de imagens médicas tridimensionais

The visualization of three-dimensional(3D)images is increasigly being sed in the area of medicine, helping physicians diagnose desease. the advances achived in scaners esed for acquisition of these 3d exames, such as computerized tumography(CT) and Magnetic Resonance imaging (MRI), enable the generation of images with higher resolutions, thus, generating files with much larger sizes. Currently, the images of computationally expensive one, and demanding the use of a righ and computer for such task. The direct remote acess of these images thruogh the internet is not efficient also, since all images have to be trasferred to the user´s equipment before the 3D visualization process ca start. with these problems in mind, this work proposes and analyses a solution for the remote redering of 3D medical images, called Remote Rendering (RR3D). In RR3D, the whole hedering process is pefomed a server or a cluster of servers, with high computational power, and only the resulting image is tranferred to the client, still allowing the client to peform operations such as rotations, zoom, etc. the solution was developed using web services written in java and an architecture that uses the scientific visualization packcage paraview, the framework paraviewWeb and the PACS server DCM4CHEE.The solution was tested with two scenarios where the rendering process was performed by a sever with graphics hadwere (GPU) and by a server without GPUs. In the scenarios without GPUs, the soluction was executed in parallel with several number of cores (processing units)dedicated to it. In order to compare our solution to order medical visualization application, a third scenario was esed in the rendering process, was done locally. In all tree scenarios, the solution was tested for different network speeds. The solution solved satisfactorily the problem with the delay in the transfer of the DICOM files, while alowing the use of low and computers as client for visualizing the exams even, tablets and smart phones