análise experimental do efeito da diversificação em carteiras de ações: a relação entre risco e quantidade de ativos sob a ótica da estratégia ingênua

The objective is to analyze the relationship between risk and number of stocks of a portfolio for an individual investor when stocks are chosen by "naive strategy". For this, we carried out an experiment in which individuals select actions to reproduce this relationship. 126 participants were informed that the risk of first choice would be an asset average of all standard deviations of the portfolios consist of a single asset, and the same procedure should be used for portfolios composed of two, three and so on, up to 30 actions . They selected the assets they want in their portfolios without the support of a financial analysis. For comparison we also tested a hypothetical simulation of 126 investors who selected shares the same universe, through a random number generator. Thus, each real participant is compensated for random hypothetical investor facing the same opportunity. Patterns were observed in the portfolios of individual participants, characterizing the curves for the components of the samples. Because these groupings are somewhat arbitrary, it was used a more objective measure of behavior: a simple linear regression for each participant, in order to predict the variance of the portfolio depending on the number of assets. In addition, we conducted a pooled regression on all observations by analyzing cross-section. The result of pattern occurs on average but not for most individuals, many of which effectively "de-diversify" when adding seemingly random bonds. Furthermore, the results are slightly worse using a random number generator. This finding challenges the belief that only a small number of titles is necessary for diversification and shows that there is only applicable to a large sample. The implications are important since many individual investors holding few stocks in their portfolios

Utilização de embriões liofilizados e flocos de Artemia na diversificação nutricional de pós-larvas do camarão marinho Litopenaes vannamei (Boone, 1931)

The objective of the current study was to evaluate the zootechnical performance (survival and growth) of Litopenaeus vannamei post-Iarvae fed an artificial shrimp diet supplemented with Artemia flakes or freeze-dried Artemia embryos. For that purpose, 20 culturing units were individually stocked with 50 shrimp post-Iarvae (average dry weight of 0,3 ± 0,03 mg) at a stocking density of 20 post-larvae per liter, and fed the experimental diets to satiation during 20 days. The experimental design consisted of four diets (T1, T2, T3 and T4) with five repetitions each. For treatments T1, T2 and T3, dietary supplements of 5mg of Artemia flakes (T1), freeze-dried Artemia embryos (T2), and of the commercial shrimp diet (T3) were offered 2 hours after the shrimp were initially fed the commercial shrimp diet. For treatment T4 (control), no additive was offered 2 hours after the initial feeding. Shrimp survival, absolut (GPA) and relative increase in weight (GPR), and specific growth rate (TCR) were used as evaluation criteria. After the experimental period, no significant statistical differences (p>0,05) in survival were observed. Regarding growth, the dietary treatment which used freeze-dried Artemia embryos as an additive (T2) presented the best results for GPA (6,7 ± 0,7 mg). There were no statistical differences within treatments T1, T3 and T4 (p>0,05). AIso, post-larvae fed freeze-dried embryos (T2) showed a relative increase in weight (2241,4%) which differed significantly (p<0,05) from T4(1911,7%) but not from T1 (1801,6%) or T3 (1946,7%). In conclusion, the results of the current study indicate that an artificial shrimp diet supplemented with freeze-dried Artemia embryos fulfils the nutritional requirements of post-larvae L. vannamei and promotes a better growth than diets not supplemented with Artemia flakes

Diversificação evolutiva de gobídeos no litoral brasileiro: padrões citogenéticos e ecomorfológicos

The fishes of the order Perciformes are characterized as an important model for understanding the genetic structure of marine populations, because besides they present examples of conservation chromosomal, also they present the karyotype diversification for some groups. Gobiidae family is the most specious in the marine environment. Among its representatives, many species are part of a cryptic fauna little noticed and studied, a wide distribution with behavioral and reproductive characteristics, that make them conducive to the action of biogeographical barriers. Morphologically this family presents reduced body structures through simplification and regressions. Despite their importance in evolutionary inferences, cytogenetics data are incipient facing their species diversity, especially with western Atlantic species. In order to estimate the evolutionary diversity in Gobiidae, it were developed cytogenetic analysis and the standards body, through geometric morphometrics in five species on the Brazilian coast, Coryphopterus glaucofraenum, Bathygobius mystacium, B. soporator, Ctenogobius smaragdus e C. Boleosoma. The data show significant karyotype and morphological diversity among the species. The pericentric inversions and mergers play an important role in chromosomal evolution of this family, causing karyotypic structural and numerical differences in all species. Karyotypic and morphological comparisons among geographic samples of B. soporator from the coast of Maranhão, Rio Grande do Norte and Bahia showed cytogenetics patterns commons, but different morphological patterns. A sample from the Atol das Rocas revealed conspicuous morphological and karyotypic differentiation of another continental populations, confirming the presence of a new island species. The approaches done reveal diversification consistent with characteristics of a group of low vagile and largely able to environmental selection due from peculiar ecological requirements

Padrões cariotípicos em tetraodontiformes (Osteichthypes) :redução genômica e mecanismos de diversificação

The Tetraodontiformes order is composed for about 400 species of fish, distributed in ten families, with circuntropical distribution. The morphologic diversity of each family reflects in, part, the different levels of specialization. This group represents an ancestry after-Perciformes and constitutes the last branch of the diffusion of the Teleósteos, occupying a position of prominence. The phylogenetics relationships of the Tetraodontiformes exist diverse works examining and, in all, these families are recognized as groups brothers, being Diodontidae next to Tetraodontidae and Balistidae next to Monacanthidae. Although it possesss a representative number of species, the works involving of the families Balistidae and Monacanthidae are few exemplary, especially species of oceanic islands. In this work cytogenetic studies in five species had been analyzed Cantherhines macrocerus, Cantherhines pullus (Monacanthidae), Melichthys niger (Balistidae), Sphoeroides testudíneus (Tetraodontidae) and Chilomycterus antennatus (Diodontidae); through conventional coloration, Ag-NORs and C banding. Ahead of the different karyological trends of evolution presented by the Tetraodontiformes, the present work also searched to verify the relation existence enters the total size of the chromosomes with the amount of DNA in these groups of Tetraodontiformes. For such, they had been correlated the total size of the chromosomes of these species, with values of content of available DNA in literature. The cytogenetics analyses for the species C.macrocerusJ C.pullus (Monacanthidae) and M.niger (Balistidae), had disclosed 40 chromosomes, all acrocentrics. All possess only one pair of NORs and pericentromeric heterochromatin. For S.testudíneus the found dyploid number was equal 2n=46, with NF=78 (16m+18sm+8st+4a), while that for C.antennatus it possesss 2n=50, with NF=76 (4m+22st+24a). Both species possess simple NORs and pericentromeric heterochromatin blocks. In M.niger, the presence of positive marking (heterochromatin and NOR) in the secondary constriction in the second chromosomic pair suggesting the occurrence of a rearrangement, possibly a fusing involving these homologous ones, indicating that these events had been important for the establishment of the karyological history of this group. A maintenance of the chromosomic constancy found in the populations of C.macrocerus (Monacanthidae) and S.testudineus (Tetraodontidae) perhaps if must for the aiding of the gene flow through oceanic chains. These data contrast with the differentiated kinds of chromosomes of C.antennatus between the Northeast coast and Southeastern, suggesting that the ecological standards of each species, added to the conditions of the marine environment, can be responsible for the karyological delineation of each species. The found characteristics for the species C.macrocerus, C.pullus, M.niger, S.testudineus and C.antennatus add it the available data for other species of Tetraodontiformes. From the data gotten in the present study, it can be inferred that the DNA content possesss direct relation with the total length of the chromosomes

Diversificação cariotípica em cinco espécies de moréias do Atlântico Ocidental (Anguilliformes)

The Anguiliformes is constituted by 15 families, 141 sorts and 737 species. In this group eight families possess at least one karyotyped species, where a prevalence of karyotypes with 2n=38 is evidenced chromosomes and high NF, apparently basal for the Anguiliformes. The only family who shows a different karyotypic pattern from the others is the Muraenidae family. In this, of the eight species already described, all of them present 2n=42 chromosomes. Despite the dimension of this Order, few species present karyotypics descriptions. In the present work, a species of Ophichthidae, Myrichthys ocellatus (2n=38, 8m+14sm+10st+6a, NF=70) and three species of Muraenidae, Enchelycore nigricans (2n=42, 6m+8sm+12st+16a, NF=68), Gymnothorax miliaris (2n=42, 14m+18sm+10st, NF=84), Gymnothorax vicinus (2n=42, 8m+6sm+28a, NF=56) and Muraena pavonina (2n=42, 6m+4sm+32a, NF=52), collected in the coast of the Rio Grande do Norte state, Saint Peter and Paul Rocks and in the coast of Bahia state were analyzed. Mitotics chromosomes had been gotten through mitotic stimulation with yeasts. Among the analyzed species, it is observed the presence of characteristic large metacentric chromosomic pairs (≅10µm). As for the structural standard, heterochromatics regions in these species in centromeric position of the majority of the chromosomic pairs and simple ribosomal sites had been evidenced. For the Ophichthidae family, the gotten data corroborate the hypothesis of karyotypic diversification mediated by the occurrence of pericentrics inversions and robertsonians rearrangements, while in the Muraenidae, the identification of larger chromosomic values (2n=42), suggests derived karyotypes, possibly caused by possible chromosomic fissions

Padrões temporais e grau de diversificação cariotípica em espécies atlânticas da família Acanthuridae (Perciformes)

The Acanthuridae family is a representative group from the marine fish that plays a key role in ecological dynamics of coral reefs. Three species are common along coastal reefs of Western Atlantic: Acanthurus coeruleus, Acanthurus bahianus and Acanthurus chirurgus. In the present study, cytogenetic data are presented for these three species Acanthurus based on classical cytogenetic methods and mapping of repetitive sequences such as ribosomal 18S and 5S rDNA and telomeric repeats to improve their karyotype evolutionary analyses. The cytogenetic pattern of these species indicated sequential steps of chromosomal rearrangements dating back 19 to 5 millions of years ago (M.a.) that accounted for their interspecific differences. A. coeruleus (2n=48; 2sm+4st+42a), A. bahianus (2n=36; 12m+2sm+4st+18a) and A. chirurgus (2n=34; 12m+2sm+4st+16a) share an older set of three chromosomal pairs that were originated through pericentric inversions. A set of six large metacentric pairs formed by Robertsonian (Rb) translocations found in A. bahianus and A. chirurgus and a putative in tandem fusion found in A. chirurgus are more recent events. The lack of interstitial telomeric sequences (ITS) in spite of several centric fusions in A. bahianus and A. chirurgus might be related to the long period of time after their occurrence (estimated in 5 M.a.). Furthermore, the homeologies among the chromosome pairs bearing ribosomal genes, in addition to other structural features, highlight large conserved chromosomal regions in the three species. Our findings indicate that macrostructural changes occurred during the cladogenesis of these species were not followed by conspicuous microstructural rearrangements in the karyotypes.

Análise experimental do efeito da diversificação em carteiras de ações: a relação entre risco e quantidade de ativos sob a ótica da estratégia ingênua

The objective is to analyze the relationship between risk and number of stocks of a portfolio for an individual investor when stocks are chosen by "naive strategy". For this, we carried out an experiment in which individuals select actions to reproduce this relationship. 126 participants were informed that the risk of first choice would be an asset average of all standard deviations of the portfolios consist of a single asset, and the same procedure should be used for portfolios composed of two, three and so on, up to 30 actions . They selected the assets they want in their portfolios without the support of a financial analysis. For comparison we also tested a hypothetical simulation of 126 investors who selected shares the same universe, through a random number generator. Thus, each real participant is compensated for random hypothetical investor facing the same opportunity. Patterns were observed in the portfolios of individual participants, characterizing the curves for the components of the samples. Because these groupings are somewhat arbitrary, it was used a more objective measure of behavior: a simple linear regression for each participant, in order to predict the variance of the portfolio depending on the number of assets. In addition, we conducted a pooled regression on all observations by analyzing cross-section. The result of pattern occurs on average but not for most individuals, many of which effectively "de-diversify" when adding seemingly random bonds. Furthermore, the results are slightly worse using a random number generator. This finding challenges the belief that only a small number of titles is necessary for diversification and shows that there is only applicable to a large sample. The implications are important since many individual investors holding few stocks in their portfolios

Utilização de embriões liofilizados e flocos de Artemia na diversificação nutricional de pós-larvas do camarão marinho Litopenaes vannamei (Boone, 1931)

The objective of the current study was to evaluate the zootechnical performance (survival and growth) of Litopenaeus vannamei post-Iarvae fed an artificial shrimp diet supplemented with Artemia flakes or freeze-dried Artemia embryos. For that purpose, 20 culturing units were individually stocked with 50 shrimp post-Iarvae (average dry weight of 0,3 ± 0,03 mg) at a stocking density of 20 post-larvae per liter, and fed the experimental diets to satiation during 20 days. The experimental design consisted of four diets (T1, T2, T3 and T4) with five repetitions each. For treatments T1, T2 and T3, dietary supplements of 5mg of Artemia flakes (T1), freeze-dried Artemia embryos (T2), and of the commercial shrimp diet (T3) were offered 2 hours after the shrimp were initially fed the commercial shrimp diet. For treatment T4 (control), no additive was offered 2 hours after the initial feeding. Shrimp survival, absolut (GPA) and relative increase in weight (GPR), and specific growth rate (TCR) were used as evaluation criteria. After the experimental period, no significant statistical differences (p>0,05) in survival were observed. Regarding growth, the dietary treatment which used freeze-dried Artemia embryos as an additive (T2) presented the best results for GPA (6,7 ± 0,7 mg). There were no statistical differences within treatments T1, T3 and T4 (p>0,05). AIso, post-larvae fed freeze-dried embryos (T2) showed a relative increase in weight (2241,4%) which differed significantly (p<0,05) from T4(1911,7%) but not from T1 (1801,6%) or T3 (1946,7%). In conclusion, the results of the current study indicate that an artificial shrimp diet supplemented with freeze-dried Artemia embryos fulfils the nutritional requirements of post-larvae L. vannamei and promotes a better growth than diets not supplemented with Artemia flakes

Gestao tecnologia: um estudo de caso no setor sucroalcooleiro

PEDRO, Edilson da Silva Pedro. Gestão tecnológica: um estudo de caso no setor sucroalcooleiro. 2004. 145f. Dissertaçao (Mestrado em Engenharia de Producao) - Universidade Federal de Sao Carlos, Sao Carlos, 2004.

Ação pública na formação e transformação do destino turístico de Porto de Galinhas: um estudo dos referenciais no período de 1970 a 2010

The central interest of this thesis is to comprehend how the public action impels the formation and transformation of the tourist destinies. The research was based on the premise that the public actions are the result of the mediation process of state and non-state actors considered important in a section, which interact aiming for prevailing their interests and world visions above the others. The case of Porto de Galinhas beach, in Pernambuco, locus of the investigation of this thesis, allowed the analysis of a multiplicity of actors on the formation and implementation of local actions toward the development of the tourism between the years 1970 and 2010, as well as permitted the comprehension of the construction of the referential on the interventions made. This thesis, of a qualitative nature, has as theoretical support the cognitive approach of analysis of the public policies developed in France, and it has as main exponents the authors Bruno Jobert and Pierre Muller. This choice was made by the emphasis on the cognitive and normative factors of the politics, which aspects are not very explored in the studies of public policies in Brazil. As the source of the data collection, documental, bibliographic and field researches were utilized to the (re)constitution of the formation and transformation in the site concerned. The analysis techniques applied were the content and the documental analysis. To trace the public action referential, it started by the characterization of the touristic section frontiers and the creation of images by the main international body: the World Tourism Organization, of which analysis of the minutes of the meetings underscored guidelines to the member countries, including Brazil, which compounds the global-sectorial reference of the section. As from the analysis of the evolution of the tourism in the country, was identified that public policies in Brazil passed by transformations in their organization over the years, indicating changes in the referential that guided the interventions. These guidelines and transformations were identified in the construction of the tourist destination of Porto de Galinhas, of which data was systematized and presented in four historical periods, in which were discussed the values, the standard, the algorithms, the images and the important mediators. It has been revealed that the State worked in different roles in the decades analyzed in local tourism. From the 1990s, however, new actors were inserted in the formulation and implementation of policies developed, especially for local hotelkeepers. These, through their association, establishes a leadership relation in the local touristic section, thereby, they could set their hegemony and spread their own interest. The leadership acquired by a group of actors, in the case of Porto de Galinhas, does not mean that trade within the industry were neutralized, but that there is a cognitive framework that confronts the actors involved. In spite of the advances achieved by the work of the mediators in the last decades, that resulted in an amplification and diversification of the activity in the area, as well as the consolidation at the beach, as a tourist destiny of national standout, the position of the place is instable, concerned to the competitiveness, once that there is an situation of social and environmental unsustainability

O city marketing em Natal/RN e a construção da imagem da cidade

The growing importance of tourism in overall economic activity worldwide has favored the intensification of competition among cities that seek to create environments attractive to tourists and potential investors. It has been common practice to import characteristics of the business environment in the public management of cities. The city marketing is a key tool used by public leaders to promote a linkage between the tourism image and urban image and involves, in addition to promoting the image of the city, the planning of interventions in urban space, trying to formulate a positive image of the city able to facilitate the deployment of capital. This research seeks to understand the nature of city marketing as part of contemporary urban management and analyzes how is its application in decisions concerning the promotion of tourism in Natal/RN. The approach of this research is qualitative, exploratory and descriptive, in which respondents were the main leaders of two of the official tourism site, the Empresa Potiguar de Promoção Turística and the Secretaria Municipal de Turismo e Desenvolvimento Econômico. It was found that there is a strong articulation of public power with private enterprise in the design and conduct of the actions of urban marketing, that from the survey data show that the behavior of target markets provide guidelines for taking strategic decisions relating to tourism. Sun and sea are some key elements explored to form the image of Natal and to authorize the sale of the city as a tropical paradise. However, there is an increase in the diversification of tourism products, seeking to increase flow to the segments of ecotourism, adventure, business and culture. It s also growing the use of local culture as a tourism product, however, the cultural representation focuses on superficial values and does not bring to light the social and historical richness that the city has. Public authorities use the city marketing strategies as a means able to maximize the attractiveness of Natal urban space to investors, business groups and tourists. It can be observed that urban managers seek solutions that can continuously increase the tours, which often manifests in interventions that focus the tourist areas of the city, in oposition of those who do not contribute to a positive reading of the city, which ultimately generate the worsening of spacial and social inequalities

Sustentabilidade de EES: contribuições e desafios do PITCPES/UFPA a partir da análise da Cooperativa dos Fruticultores de Abaetetuba COFRUTA

The study aimed to understand how the methodology of hatching contributes to the sustainability of economic enterprises in solidarity. For analysis, we developed a study on the social economy and the incubation methodology, based on the program of teaching, research and extension - Technological Incubator of Popular Cooperatives and Entrepreneurship Solidarity (PITCPES), and as the survey of the Cooperative of Fruit of Abaetetuba - COFRUTA. We started from the exploratory-descriptive approach in a qualitative and quantitative, in order to demonstrate the process of sustainability under the dimensions of different kinds such as: the economic dimension, social dimension, the political dimension, size and scale management training. Based on the analysis of these different dimensions was reached results as: first the recognition that the incubator contributes to the sustainability of COFRUTA, especially with regard to planning, control and the need to diversify production. However, there was suggestion of cooperative for training and technical assistance is continued, to the extent that the performance of projects under the base leaves gaps for the learning and application of social technologies required to the Incubator. It also concluded that the dissertation contributes to the team of the incubator can assess their strengths and weaknesses in their performance

Sustentabilidade de EES: contribuições e desafios do PITCPES/UFPA a partir da análise da Cooperativa dos Fruticultores de Abaetetuba COFRUTA

The study aimed to understand how the methodology of hatching contributes to the sustainability of economic enterprises in solidarity. For analysis, we developed a study on the social economy and the incubation methodology, based on the program of teaching, research and extension - Technological Incubator of Popular Cooperatives and Entrepreneurship Solidarity (PITCPES), and as the survey of the Cooperative of Fruit of Abaetetuba - COFRUTA. We started from the exploratory-descriptive approach in a qualitative and quantitative, in order to demonstrate the process of sustainability under the dimensions of different kinds such as: the economic dimension, social dimension, the political dimension, size and scale management training. Based on the analysis of these different dimensions was reached results as: first the recognition that the incubator contributes to the sustainability of COFRUTA, especially with regard to planning, control and the need to diversify production. However, there was suggestion of cooperative for training and technical assistance is continued, to the extent that the performance of projects under the base leaves gaps for the learning and application of social technologies required to the Incubator. It also concluded that the dissertation contributes to the team of the incubator can assess their strengths and weaknesses in their performance

Turismo cultural na ZEPH-Ribeira: possibilidades e limitações

Considering that urban interventions, planned and executed recently at Natal, RN, should put Ribeira - one of the town centers - in the new limits of the expanded center of the city, this work examines the use of this new accessibility for the benefit of the development of an infrastructure to support a type of tourism currently seen as an alternative to diversification into areas dominated by entertainment tourism (the case of Natal). A local with city's traditional cultural facilities and holder of a set built that is a synthesis of the images of the neighborhood, it fears that this increase in the potential for movement and flows of use stimulate speculation and deployment of a bulk type of activity incompatible with the preservation the architectural heritage. Important economy for the city, tourism has been showing a factor propellant processing urban related changes in accessibility. It is argued that cultural tourism, often used in plans and projects of revitalization across the country, may be factor for sustainable development and conserve the assets, and contributes to the process of revitalization of the historic cultural center as Ribeira. Intended to illustrate the need to consider other information that might help in the revitalization of the neighborhood, this research presents the offer cultural tourism of Ribeira and identifies and maps certain physical attributes that, combined with functional attributes, can stimulate or inhibit the diversity and vitality in the region

Interesses da habitação social : políticas e processos no Rio Grande do Norte

En 2003, le gouvernement brésilien (gestion Lula) a initié une nouvelle phase dans son histoire de l habitation, en intensifiant les constructions de logements sociaux au Brésil. Un tel accroissement a eut des répercussions tant en ville comme à la campagne, et fût marqué dans le Rio Grande do Norte, par la production a grande échelle d ensembles d habitations, dans les programmes de Gouvernement. Afin de viabiliser ces transformations, des instruments politiques, financiers et de gestion ont étés articulés conjointement, utilisant la répétition d une typologie d édification, comme modèle, accompagnée de la reproduction d une morphologie dans les constructions de logements sociaux. Afin de comprendre ce processus nous introduisons une recherche urbanistique et socio-économique du problème du logement social au Brésil, en cherchant à mettre en relation les aspects techniques avec les questions historique, professionnelles et culturelles, éléments complémentaires. Notre analyse cherche a identifier comment les politiques de gestion et financement officielles (administrées dans sa grande majorité par la Caisse Économique Fédérale -CEF-), influencent le processus de conception de projets, en provoquant les répétitions de type/morphologiques, déjà citées. Basée sur l observation directe au cour de deux expériences différenciées pour du logement social en milieu rural, au Rio Grande do Norte, nous montrerons aussi certaines limitations et possibilités des acteurs sociaux, face aux agents et politiques officielles pour le logement social au Brésil, proposant des solutions alternatives standardisées qui caractérisent le résultat des projets financées et gérés par la CEF. Nos principales références théoriques et méthodologiques sont Nabil Bonduki (1998), David Harvey (2009,1982), Henry Lefèbvre (1970), Ermínia Maricato (2010, 2009, 2000, 1987) et Raquel Rolnik (2010, 2009, 2008, 1997)