Análise da sobre-reação e sub-reação nos ativos de primeira e segunda lina do mercado acionário brasileiro

The Behavioral Finance develop as it is perceived anomalies in these markets efficient. This fields of study can be grouped into three major groups: heuristic bias, tying the shape and inefficient markets. The present study focuses on issues concerning the heuristics of representativeness and anchoring. This study aimed to identify the then under-reaction and over-reaction, as well as the existence of symmetry in the active first and second line of the Brazilian stock market. For this, it will be use the Fuzzy Logic and the indicators that classify groups studied from the Discriminant Analysis. The highest present, indicator in the period studied, was the Liabilities / Equity, demonstrating the importance of the moment to discriminate the assets to be considered "winners" and "losers." Note that in the MLCX biases over-reaction is concentrated in the period of financial crisis, and in the remaining periods of statistically significant biases, are obtained by sub-reactions. The latter would be in times of moderate levels of uncertainty. In the Small Caps the behavioral responses in 2005 and 2007 occur in reverse to those observed in the Mid-Large Cap. Now in times of crisis would have a marked conservatism while near the end of trading on the Bovespa speaker, accompanied by an increase of negotiations, there is an overreaction by investors. The other heuristics in SMLL occurred at the end of the period studied, this being a under-reaction and the other a over-reaction and the second occurring in a period of financial-economic more positive than the first. As regards the under / over-reactivity in both types, there is detected a predominance of either, which probably be different in the context in MLCX without crisis. For the period in which such phenomena occur in a statistically significant to note that, in most cases, such phenomena occur during the periods for MLCX while in SMLL not only biases are less present as there is no concentration of these at any time . Given the above, it is believed that while detecting the presence of bias behavior at certain times, these do not tend to appear to a specific type or heuristics and while there were some indications of a seasonal pattern in Mid- Large Caps, the same behavior does not seem to be repeated in Small Caps. The tests would then suggest that momentary failures in the Efficient Market Hypothesis when tested in semistrong form as stated by Behavioral Finance. This result confirms the theory by stating that not only rationality, but also human irrationality, is limited because it would act rationally in many circumstances

Síntese de catalisadores do tipo LaNixFe1-xO3 como precursores catalíticos para reação oxidação parcial do metano

Nickel-bases catalysts have been used in several reform reactions, such as in the partial oxidation of methane to obtain H2 or syngas (H2 + CO). High levels of conversion are usually obtained using this family of catalysts, however, their deactivation resulting from carbon deposition still remains a challenge. Different approaches have been tested aiming at minimizing this difficulty, including the production of perovskites and related structures using modern synthesis methods capable of producing low cost materials with controlled microstructural characteristics at industrial scale. To establish grounds for comparison, in the present study LaNixFe1-xO3 (x=0, 0.3 or 0.7) perovskites were prepared following the Pechini method and by microwave assisted self-combustion. All samples were sub sequently calcined at 900 °C to obtain the target phase. The resulting ceramic powders were characterized by thermogravimetric analysis, infrared spectroscopy, X ray diffraction, specific area and temperature programmed reduction tests. Calcined samples were also used in the partial oxidation reaction of methane to evaluate the level of conversion, selectivity and carbon deposition. The results showed that the calcined samples were crystalline and the target phase was formed regardless of the synthesis method. According to results obtained by Rietveld refinement, we observed the formation of 70.0% of LaNi0.3Fe0.7O3 and 30.0% of La2O3 for samples LN3F7-900- P, LN3F7-900-M and 41,6% of LaNi0.7Fe0.3O3, 30.7% of La2NiO4 and 27.7% of La2O3 for samples LN7F3-900-P and LN7F3-900-M.Temperature-programmed profiles of the LaNiO3 sample revealed the presence of a peak around 510 °C, whereas the LaFeO3 sample depicted a peak above 1000°C. The highest l evel of methane conversion was obtained for LaNiO3 synthesized by the Pechini method. Overall, catalysts prepared by the Pechini method depicted better conversion levels compared to those produced by microwave assisted self-combustion

Sistema de sensoriamento eletromagnético utilizado para detecção da contaminação do óleo isolante do motor no método de elevação artificial do tipo bombeio centrífugo submerso

In the artificial lift method by Electrical Submersible Pump (ESP), the energy is transmitted for the well´s deep through a flat electric handle, where it is converted into mechanical energy through an engine of sub-surface, which is connected to a centrifugal pump. This transmits energy to the fluid under the pressure form, bringing it to the surface In this method the subsurface equipment is basically divided into: pump, seal and motor. The main function of the seal is the protect the motor, avoiding the motor´s oil be contaminated by oil production and the consequent burning of it. Over time, the seal will be wearing and initiates a contamination of motor oil, causing it to lose its insulating characteristics. This work presents a design of a magnetic sensor capable of detecting contamination of insulating oil used in the artificial lift method of oil-type Electrical Submersible Pump (ESP). The objective of this sensor is to generate alarm signal just the moment when the contamination in the isolated oil is present, enabling the implementation of a predictive maintenance. The prototype was designed to work in harsh conditions to reach a depth of 2000m and temperatures up to 150°C. It was used a simulator software to defined the mechanical and electromagnetic variables. Results of field experiments were performed to validate the prototype. The final results performed in an ESP system with a 62HP motor showed a good reliability and fast response of the prototype.

Estudo do perfil térmico de fornos do tipo "caipira" utilizados pelo setor de cerâmica vermelha em parelhas na região Seridó-RN

The present study aimed to characterize the thermal profile of wood fired oven used by the red ceramic industry in Parelhas, in the Seridó region/RN, aiming to propose structural interventions that can contribute to increasing productivity and product quality, optimize wood consumption and mitigate existing losses during the burning process. The study was conducted at Cerâmica Esperança in the city of Parelhas -RN, Brazil, during the period from August 2012 to September 2013. Four treatments were performed with three replicates, ie, with, a total of 12 experimental units (burnings). In the first stage 4 treatments were performed with three replicates, totaling 12 experimental units (firings). In the second stage 2 treatments were performed with three replications, totaling 6 experimental units (firings). The physical characteristics of the wood were analyzed using standard NBR 11941 and NBR 7190 for basic density and moisture, respectively. The clay was used as a reference parameter for distinguishing treatments. For both the analysis and characterization was carried out using techniques of fluorescence X (XRF) rays, X-ray diffraction (XRD) analysis, particle size analysis (FA). In the first and second stages were monitored: the time during the firing process, the amount of wood used at each firing, the number of parts enfornadas for subsequent determination of the percentages of losses, but also product quality. To characterize the thermal profile of the oven, we measured the temperature at 15 points scored in the surface charge put into the oven. Measurements were taken every 30 minutes from preheat until the end of burning, using a pyrometer laser sight sighting from preheating until the end of burning. In the second step 12 metal cylinders distributed on the oven walls, and the cylinder end walls 8 of the furnace 2 and rollers on each side walls are installed equidistant to 17 cm from the soil and the surface 30 of the wall are installed. The cylinders distributed on the front were placed 50 cm above the furnace, and the base of the oven 20 cm distant from the ground. 10 also thermocouples were installed, and five thermocouples distributed 1.77 cm above the combustion chambers, and one thermocouple on each side, and three thermocouples in front of the oven. We carried out the measurements of the temperatures every 1 hour during the burning two hours in cooling the cylinders with a pyrometer and thermocouples for dattaloger. These were fixed with depth of 30 cm from the wall. After statistical analysis it was found that: the thermal profile of the furnace surface and at different heights was heterogeneous; and the ranges of density and moisture content of wood are within recommended for use as an energy source standards. We conclude that even at low temperatures reached during firing there was a significant production of good quality products, this is due to high concentrations of iron oxide and potassium oxide found in clay, which lowers the melting point of the piece. The average burn time for each step varied 650-2100 minutes wood consumption was on average 20 m3, product quality was on average 16% of first quality, 70% second, third and 5% to 10% loss . The distance between the wire and the surface of the oven was a significant parameter for all treatments, but with different variations, meaning that the wire should not be so generic and unique form, used as a criterion for completion of the burn process. The central part of the furnace was the area that reached higher temperature, and in a unified manner, with the highest concentration of top quality products. The ideal temperature curve, which provided the highest quality of ceramic products was achieved in the central part of the furnace

Sobre a natureza dos processos físicos de aquecimento da atmosfera de estrelas do tipo solar

In the present work, we have studied the nature of the physical processes of the coronal heating, considering as basis significant samples of single and binary evolved stars, that have been achieved with the ROSAT satellite. In a total of 191 simple stars were studied, classified in the literature as giants with spectral type F, G and K. The results were compared with those obtained from 106 evolved stars of spectral type F, G and K, which belong to the spectroscopic binary systems. Accurate measurements on rotation and information about binarity were obtained from De Medeiros s catalog. We have analysed the behavior of the coronal activity in function of diverse stellar parameters. With the purpose to better clarify the profile of the stars evolution, the HR diagram was built for the two samples of stars, the single and the binary ones. The evolved traces added in the diagram were obtained from the Toulouse-Geneve code, Nascimento et al. (2000). The stars were segregated in this diagram not only in range of rotational speed but also in range of X-ray flux. Our analysis shows clearly that the single stars and the binary ones have coronal activity controlled by physical process independent on the rotation. Non magnetic processes seem to be strongly influencing the coronal heating. For the binary stars, we have also studied the behavior of the coronal emission as a function of orbital parameters, such as period and eccentricity, in which it was revealed the existence of a discontinuity in the emission of X-rays around an orbital period of 100 days. The study helped to conclude that circular orbits of the binary stars are presented as a necessary property for the existence of a higher level ofX-rays emission, suggesting that the effect of the gravitational tide has an important role in the coronal activity level. When applied the Kolmogorov-Smirnov test (KS test ) for the Vsini and FX parameters to the samples of single and binary stars, we could evidence very relevant aspects for the understanding of the mechanisms inherent to the coronal activity. For the Vsini parameter, the differences between the single stars and the binary ones for rotation over 6.3 km/s were really remarkable. We believe, therefore, that the existence of gravitational tide is, at least, one of the factors that most contribute for this behavior. About the X-rays flux, the KS test showed that the behavior of the single and the binary stars, regarding the coronal activity, comes from the same origin

A evolução do lítio em estrelas do tipo-solar através do diagrama HR

Important advances have been made along the last decade in the study of the lithium behavior in solar-type stars. Among the most important discoveries what attracts attention is that the distribution of lithium abundance in the late F-type giant stars tends to be discontinuous, at the same time of a sudden decline in rotation and a gradual decline according to the temperature for giant red stars of such spectral type. Other studies have also shown that synchronized binary systems with evolved components seem to keep more of their original lithium than the unsynchronized systems. evertheless, the connection between rotation and lithium abundance as well as the role of tidal effects on lithium dilution seem to be more complicated matters, depending on mass, metallicity and age. This work brings an unprecedented study about the behavior of lithium abundance in solartype evolved stars based on an unique sample of 1067 subgiant, giant and supergiant stars, 236 of them presenting spectroscopic binary characteristics, with precise lithium abundance and projected rotational speed. Now the lithium-rotation connection for single and binary evolved stars is analyzed taking into account the role of mass and stellar age

Diferenças funcionais das regiões hipocampais na formação da memória do tipo o quê", "quando" e "onde" em ratos

Episodic memory refers to the recollection of what, where and when a specific event occurred. Hippocampus is a key structure in this type of memory. Computational models suggest that the dentate gyrus (DG) and the CA3 hippocampal subregions are involved in pattern separation and the rapid acquisition of episodic memories, while CA1 is involved in memory consolidation. However there are few studies with animal models that access simultaneously the aspects ‗what-where-when . Recently, an object recognition episodic-like memory task in rodents was proposed. This task consists of two sample trials and a test phase. In sample trial one, the rat is exposed to four copies of an object. In sample trial two, one hour later, the rat is exposed to four copies of a different object. In the test phase, 1 h later, two copies of each of the objects previously used are presented. One copy of the object used in sample trial one is located in a different place, and therefore it is expected to be the most explored object.However, the short retention delay of the task narrows its applications. This study verifies if this task can be evoked after 24h and whether the pharmacological inactivation of the DG/CA3 and CA1 subregions could differentially impair the acquisition of the task described. Validation of the task with a longer interval (24h) was accomplished (animals showed spatiotemporal object discrimination and scopolamine (1 mg/kg, ip) injected pos-training impaired performance). Afterwards, the GABA agonist muscimol, (0,250 μg/μl; volume = 0,5 μl) or saline were injected in the hippocampal subregions fifteen minutes before training. Pre-training inactivation of the DG/CA3 subregions impaired the spatial discrimination of the objects (‗where ), while the temporal discrimination (‗when ) was preserved. Rats treated with muscimol in the CA1 subregion explored all the objects equally well, irrespective of place or presentation time. Our results corroborate the computational models that postulate a role for DG/CA3 in spatial pattern separation, and a role for CA1 in the consolidation process of different mnemonic episodes

A experiência de adolescentes portadores de diabetes Mellitus Tipo 1: seus significados e sentido

Worldwide, the diabetes mellitus is considered a serious problem of public health; it also involves high costs for its treatment and its complications. Even though the onset of diabetes mellitus type 1 is on 5% to 10% of the diabetic population, it is the most aggressive type of anifestation; furthermore, it is the commonest chronic disease in childhood and adolescence. Such data show the importance of understanding the development of this disease from the moment the individual perceives it, according to their experience, observing the complexity of the phenomenon thoroughly. This study aimed to comprehend the experience of the adolescent with onset of diabetes mellitus type 1 in order to learn how these young individuals perceive and reason their place in the world when they experience this illness. The methodological strategy was based on qualitative research of phenomenological inspiration. We applied the main ideas of heideggerian ontology and some concepts of existential phenomenological psychology to guide our reflexive path. The participants were 10 young individuals (06 female and 04 male), ages between 15 and 18, under treatment in the city of Recife, Pernambuco. The methodological resource was the narrative, which allowed us access to the adolescents experience. The comprehension of the reports was based on the heideggerian hermeneutics, whose priority is the interpretation of the meaning expressed by the participants speech. The results showed that factors such as social, family, economic and cultural context greatly influence the perception and the way the individuals deal with, perceive and reason their experience. We noticed that the diabetes type 1 may often represent a limitation, but it does not make it impossible to be part of the world with others. The data show a significant affective ambivalence regarding the content more directly related to the disease. This demonstrates the unique way which each one gives meaning and reasons their condition of existence. This research points out the need to understand the complexity of this phenomenon in a more complete manner, considering the adolescent in their timely and historical context. We believe we can encourage thinking that may become actions which are more fit to the reality researched regarding all the parties involved with the subject, such as health professionals, adolescents, family, support programs and public health policies

Avaliação da remoção de hidrocarbonetos aromáticos (BTEX) em águas utilizando materiais nanoestruturados do tipo Ti-MCM-41

Volatile Organic Compounds are pollutants coming mainly from activities that use fossil fuels. Within this class are the BTEX (benzene, toluene, ethylbenzene and xylenes) compounds that are considered hazardous. Among the various existing techniques for degradation of pollutants, there is advanced oxidation using H2O2 generating hidoxil radical ( OH). In this work, the mesoporous material of MCM-41 was synthesized by hydrothermal method and then was used as support, the impregnation of titanium by the method of synthesis with excess solvent to obtain the catalyst Ti-MCM-41. The catalyst was used in the reaction catalyzed removal of BTEX in water using H2O2 as oxidant. The materials were characterized by: XRD, TG/DTG, FTIR, nitrogen adsorption-desorption and FRX-EDX, in order to verify the method of impregnation of the mesoporous titanium support was effective. Catalytic tests were carried out in reactors of 20 mL containing BTEX (100.0 μg/L), H2O2 (2.0 M) and Ti-MCM-41 (2.0 g/L) in acid medium. The reaction occurred for 5 h at 60 °C and analysis were performed by gas chromatography with photoionization detector and static headspace sampler. The characterizations have proven the effectiveness of the synthesis method used and the incorporation of titanium lt in the support. The catalytic tests showed satisfactory results with conversion of more than 95 % for the studied compounds, where the catalyst 48% Ti-MCM-41 showed a higher removal efficiency of the compounds under study

Deciding difference logic in a Nelson-Oppen combination framework

O método de combinação de Nelson-Oppen permite que vários procedimentos de decisão, cada um projetado para uma teoria específica, possam ser combinados para inferir sobre teorias mais abrangentes, através do princípio de propagação de igualdades. Provadores de teorema baseados neste modelo são beneficiados por sua característica modular e podem evoluir mais facilmente, incrementalmente. Difference logic é uma subteoria da aritmética linear. Ela é formada por constraints do tipo x − y ≤ c, onde x e y são variáveis e c é uma constante. Difference logic é muito comum em vários problemas, como circuitos digitais, agendamento, sistemas temporais, etc. e se apresenta predominante em vários outros casos. Difference logic ainda se caracteriza por ser modelada usando teoria dos grafos. Isto permite que vários algoritmos eficientes e conhecidos da teoria de grafos possam ser utilizados. Um procedimento de decisão para difference logic é capaz de induzir sobre milhares de constraints. Um procedimento de decisão para a teoria de difference logic tem como objetivo principal informar se um conjunto de constraints de difference logic é satisfatível (as variáveis podem assumir valores que tornam o conjunto consistente) ou não. Além disso, para funcionar em um modelo de combinação baseado em Nelson-Oppen, o procedimento de decisão precisa ter outras funcionalidades, como geração de igualdade de variáveis, prova de inconsistência, premissas, etc. Este trabalho apresenta um procedimento de decisão para a teoria de difference logic dentro de uma arquitetura baseada no método de combinação de Nelson-Oppen. O trabalho foi realizado integrando-se ao provador haRVey, de onde foi possível observar o seu funcionamento. Detalhes de implementação e testes experimentais são relatados

Especificação do tipo intervalar parametrizado em CASL

The interval datatype applications in several areas is important to construct a interval type reusable, i.e., a interval constructor can be applied to any datatype and get intervals this datatype. Since the interval is, of certain form, a set of elements limited for two bounds, left and right, with a order notions, then it s reasonable that interval constructor enclose datatypes with partial order. On the order hand, what we want is work with interval of any datatype like this we work with this datatype then. it s important to guarantee the properties of the datatype when maps to interval of this datatype. Thus, the interval constructor get a theory to parametrized interval type, i.e., a interval with generics parameters (for example rational, real, complex). Sometimes, the interval application in some algebras doesn t guarantee the mainutenance of their properties, for example, when we use interval of real, that satisfies the field properties, it doesn t guarantee the distributivity propertie. A form to surpass this problem Santiago introduced the local equality theory that weakened the notion of strong equality, and thus, allowing some properties are local keeped, what can be discard before. The interval arithmetic generalization aim to apply the interval constructor on ordered algebras weakened for local equality with the purpose of the keep their properties. How the intervals are important in applications with continuous data, it s interesting specify that theory using a specification language that supply a system development using intervals of form disciplined, trustworth and safe. Currently, the algebraic specification language, based in math models, have been use to that intention often. We choose CASL (Common Algebraic Specification Language) among others languages because CASL has several characteristics excellent to parametrized interval type, such as, provide parcialiy and parametrization

Caracterização tectono-estratigráfica da sequência transicional na sub-bacia de Sergipe

This thesis deals with the tectonic-stratigraphic evolution of the Transitional Sequence in the Sergipe Sub-basin (the southern segment of the Sergipe-Alagoas Basin, Northeast Brazil), deposited in the time interval of the upper Alagoas/Aptian stage. Sequence boundaries and higher order internal sequences were identified, as well as the structures that affect or control its deposition. This integrated approach aimed to characterize the geodynamic setting and processes active during deposition of the Transitional Sequence, and its relations with the evolutionary tectonic stages recognized in the East Brazilian Margin basins. This subject addresses more general questions discussed in the literature, regarding the evolution from the Rift to the Drift stages, the expression and significance of the breakup unconformity, the relationships between sedimentation and tectonics at extensional settings, as well as the control on subsidence processes during this time interval. The tectonic-stratigraphic analysis of the Transitional Sequence was based on seismic sections and well logs, distributed along the Sergipe Sub-basin (SBSE). Geoseismic sections and seismic facies analysis, stratigraphic profiles and sections, were compiled through the main structural blocks of this sub-basin. These products support the depositional and tectonic-stratigraphic evolutionary models built for this sequence. The structural analysis highlighted similarities in deformation styles and kinematics during deposition of the Rift and Transitional sequences, pointing to continuing lithospheric extensional processes along a NW trend (X strain axis) until the end of deposition of the latter sequence was finished by the end of late Aptian. The late stage of extension/rifting was marked by (i) continuous (or as pulses) fault activity along the basin, controling subsidence and creation of depositional space, thereby characterizing upper crustal thinning and (ii) sagstyle deposition of the Transitional Sequence at a larger scale, reflecting the ductile stretching and thinnning of lower and sub crustal layers combined with an increasing importance of the thermal subsidence regime. Besides the late increments of rift tectonics, the Transitional Sequence is also affected by reactivation of the border faults of SBSE, during and after deposition of the Riachuelo Formation (lower section of the Transgressive Marine Sequence, of Albian age). It is possible that this reactivation reflects (through stress propagation along the newlycreated continental margin) the rifting processes still active further north, between the Alagoas Sub-basin and the Pernambuco-Paraíba Basin. The evaporitic beds of the Transitional Sequence contributed to the development of post-rift structures related to halokinesis and the continental margin collapse, affecting strata of the overlying marine sequences during the Middle Albian to the Maastrichtian, or even the Paleogene time interval. The stratigraphic analysis evidenced 5 depositional sequences of higher order, whose vertical succession indicates an upward increase of the base level, marked by deposition of continental siliciclastic systems overlain by lagunar-evaporitic and restricted marine systems, indicating that the Transitional Sequence was deposited during relative increase of the eustatic sea level. At a 2nd order cycle, the Transitional Sequence may represent the initial deposition of a Transgressive Systems Tract, whose passage to a Marine Transgressive Sequence would also be marked by the drowning of the depositional systems. At a 3rd order cycle, the sequence boundary corresponds to a local unconformity that laterally grades to a widespread correlative conformity. This boundary surface corresponds to a breakup unconformity , being equivalent to the Pre-Albian Unconformity at the SBSE and contrasting with the outstanding Pre-upper Alagoas Unconformity at the base of the Transitional Sequence; the latter is alternatively referred, in the literature, as the breakup unconformity. This Thesis supports the Pre-Albian Unconformity as marker of a major change in the (Rift-Drift) depositional and tectonic setting at SBSE, with equivalent but also diachronous boundary surfaces in other basins of the Atlantic margin. The Pre-upper Alagoas Unconformity developed due to astenosphere uplift (heating under high lithospheric extension rates) and post-dates the last major fault pulse and subsequent extensive block erosion. Later on, the number and net slip of active faults significantly decrease. At deep to ultra deep water basin segments, seaward-dipping reflectors (SDRs) are unconformably overlain by the seismic horizons correlated to the Transitional Sequence. The SDRs volcanic rocks overly (at least in part) continental crust and are tentatively ascribed to melting by adiabatic decompression of the rising astenospheric mantle. Even though being a major feature of SBSE (and possibly of other basins), the Pre-upper Alagoas Unconformity do not correspond to the end of lithospheric extension processes and beginning of seafloor spreading, as shown by the crustal-scale extensional structures that post-date the Transitional Sequence. Based on this whole context, deposition of the Transitional Sequence is better placed at a late interval of the Rift Stage, with the advance of an epicontinental sea over a crustal segment still undergoing extension. Along this segment, sedimentation was controled by a combination of thermal and mechanical subsidence. In continuation, the creation of oceanic lithosphere led to a decline in the mechanical subsidence component, extension was transferred to the mesoceanic ridge and the newly-formed continental margin (and the corresponding Marine Sequence) began to be controlled exclusively by the thermal subsidence component. Classical concepts, multidisciplinary data and new architectural and evolutionary crustal models can be reconciled and better understood under these lines