Análise comparativa e teste empírico da validade dos modelos CAPM tradicional e condicional: o caso das ações da Petrobrás

ALVES, Janaína da Silva. Análise comparativa e teste empírico da validade dos modelos CAPM tradicional e condicional: o caso das ações da Petrobrás. Revista Ciências Administrativas, Fotaleza, v. 13, n. 1, p.147-157, ago. 2007.

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

Estimativas de mortalidade para a região nordeste do Brasil em 2010: uma associação do método demográfico equação geral de balanceamento, com o estimador bayesiano empírico

One of the greatest challenges of demography, nowadays, is to obtain estimates of mortality, in a consistent manner, mainly in small areas. The lack of this information, hinders public health actions and leads to impairment of quality of classification of deaths, generating concern on the part of demographers and epidemiologists in obtaining reliable statistics of mortality in the country. In this context, the objective of this work is to obtain estimates of deaths adjustment factors for correction of adult mortality, by States, meso-regions and age groups in the northeastern region, in 2010. The proposal is based on two lines of observation: a demographic one and a statistical one, considering also two areas of coverage in the States of the Northeast region, the meso-regions, as larger areas and counties, as small areas. The methodological principle is to use the General Equation and Balancing demographic method or General Growth Balance to correct the observed deaths, in larger areas (meso-regions) of the states, since they are less prone to breakage of methodological assumptions. In the sequence, it will be applied the statistical empirical Bayesian estimator method, considering as sum of deaths in the meso-regions, the death value corrected by the demographic method, and as reference of observation of smaller area, the observed deaths in small areas (counties). As results of this combination, a smoothing effect on the degree of coverage of deaths is obtained, due to the association with the empirical Bayesian Estimator, and the possibility of evaluating the degree of coverage of deaths by age groups at counties, meso-regions and states levels, with the advantage of estimete adjustment factors, according to the desired level of aggregation. The results grouped by State, point to a significant improvement of the degree of coverage of deaths, according to the combination of the methods with values above 80%. Alagoas (0.88), Bahia (0.90), Ceará (0.90), Maranhão (0.84), Paraíba (0.88), Pernambuco (0.93), Piauí (0.85), Rio Grande do Norte (0.89) and Sergipe (0.92). Advances in the control of the registry information in the health system, linked to improvements in socioeconomic conditions and urbanization of the counties, in the last decade, provided a better quality of information registry of deaths in small areas

Uma contribuição à avaliação dos impactos da gestão de estoque na satisfação e fidelização pós-vendas de clientes de concessionárias de automóveis : um estudo empírico em Natal-RN

This paper aims to conduct a study to evaluate and measure the possible impact that the unavailability of spare parts can have on customer satisfaction for car dealerships in the post-sales. A theoretical-conceptual review on the subject of satisfaction and loyalty, on the backdrop of the reality of the automobile market, allowed the construction of a research tool dedicated to collect opinions of car owners, to allow an analysis empirical relationship between the availability of parts, repairs or scheduled service possible, and change or stay on the mark on the occasion of change of vehicle. 236 forms were applied to car owners in the city of Natal / RN. The results obtained in this survey allowed the identification of the unavailability of parts as a significant factor, among others, the motivation for the customer to switch brands. Collaterally, we could also conclude that the dynamics of change in marks, whatever its motivation, is reflected in the perceived positions of the different brands as the market share both in strictly quantitative terms and in terms of relative positioning, with significant changes in the ranking of consumer preferences for different brands available

Dilema da diversidade-acurácia: um estudo empírico no contexto de multiclassificadores

Multi-classifier systems, also known as ensembles, have been widely used to solve several problems, because they, often, present better performance than the individual classifiers that form these systems. But, in order to do so, it s necessary that the base classifiers to be as accurate as diverse among themselves this is also known as diversity/accuracy dilemma. Given its importance, some works have investigate the ensembles behavior in context of this dilemma. However, the majority of them address homogenous ensemble, i.e., ensembles composed only of the same type of classifiers. Thus, motivated by this limitation, this thesis, using genetic algorithms, performs a detailed study on the dilemma diversity/accuracy for heterogeneous ensembles

Economia criativa e estratégia como prática social: uma abordagem teórico-empírico-conceitual a partir de ambientes criativos de grupos musicais

This study seeks to identify how creative environments of musical groups are configured in the Strategy as Practice perspective as theoretical, empirical and conceptual models. It develops within the theoretical framework, discussions on the context of the Creative Economy, Creative Industries, creative environment, organizational paradigm of Creative Economy, music as a creative environment and business, design and dynamics of Strategy as Practice and conjecture about the contextualism and other epistemological currents. The study is shaped as an exploratory and descriptive research, utilizing the qualitative method and being characterized as a Grounded Theory. A total of four musical groups of different styles, markets and areas of operation with over ten years of activity were surveyed. The Grounded Theory and simple observation methods were used for both data collection and analysis. The software ATLAS.ti. was used to help with the analysis. The research shows that the bands perceive the specialized expertise in the virtual social media as a strategic differentiator. It also shows that the groups nourish individuation and the differentiation in their relationship with the individual. Finally, it validates that these organizations get teams involved and value the dynamic design of their routines in strategic decision making, paying attention to a strategic social bias. Strategy and Creative Practice is the main category that emerged from the data. This category is explained through the three aforementioned results. It shows that organizations that are part of the Creative Economy perform simultaneously and dynamically creative and strategic making at both artistic and managerial levels.The theory created is validated by the principles of degree of coherence, functionality, relevance, flexibility, density and integration, and it is inserted in the contextualism principle, which points the knowledge as related to the context in which it is placed and discussed.

Análise comparativa e teste empírico da validade dos modelos CAPM tradicional e condicional: o caso das ações da Petrobrás

ALVES, Janaína da Silva. Análise comparativa e teste empírico da validade dos modelos CAPM tradicional e condicional: o caso das ações da Petrobrás. Revista Ciências Administrativas, Fotaleza, v. 13, n. 1, p.147-157, ago. 2007.

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