11 resultados para Financial results

em Repositório Institucional UNESP - Universidade Estadual Paulista "Julio de Mesquita Filho"


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Brazil is the world leader in broiler production and export. It achieved this position mainly to its excellent supply chain structure and climate, which favor poultry and grain production throughout its territory. Although Brazilian egg production is not as important as broiler production, this segment presents great potential of increasing its share in the global market. However, as elsewhere in the world, Brazilian poultry production faces the challenge to balance two elements within its supply chain: cruelty and productivity. The consumers of the European Union (EU) are very concerned with animal welfare issues. In order to increase its share in the European market, and eventually in the world market, Brazilian poultry producers must understand the effects of production systems on poultry welfare, and try to develop systems that are suited for its climate and other production conditions. There is a consensus that the natural behaviors performed by poultry in intensive production systems allow better welfare. This objective of this review is to present scientific research studies that relate different behaviors to chicken welfare. Poultry behavior is a reflex of their welfare status at a particular moment, and it is related to internal (physiological) and external (environmental) factors. Several natural behaviors that favor welfare, as well as undesirable behaviors, may be stimulated by environmental enrichment. The correct interpretation of the behaviors expressed by poultry, including their frequency, duration, and sequence, may be used to estimate their welfare. Animal production is an import sector of Brazilian economy. It significantly contributes to the Gross Domestic Product (GDP), in terms of products destined both to domestic consumption and exports. New technologies applied to products and management practices have been developed for field application, aiming at improving producers' productivity and profitability. In order to comply with the European Union's (EU) guidelines for animal protein production, Brazilian poultry production needs to undergo a process of adaptation. In May, 2007, the EU Commission established its new guidelines for animal welfare in poultry production, pressured by consumer demand. In the EU, there is a growing concern among consumers as to how poultry are reared and slaughtered. European consumers are in the fore front of the demand of high quality products produced with under better welfare conditions, and have spread this concern throughout the world. Beaumont et al. (2010) mentioned that European consumers frequently perceive that standard commercial poultry production has poor animal welfare practices. According to Nääs et al. (2008), Brazilian poultry production today needs to find a balance between cruelty and productivity. In fact, ensuring animal welfare may provide better financial results, as it increases the producer's profit margins and allows maintaining Brazilian chicken export quotas to the EU. França (2008) noted that biological studies that define ethical limits and guidelines for poultry production foster the development of new production practices that may ensure good product quality and productivity without putting bird welfare at risk. Gonyou (1994) states that, when animal welfare started to be studied, the only behavioral factors considered were those related to feeding and reproduction. These first studies used as indicators of animal welfare reduced life expectancy, impaired growth, impaired reproduction, body damage, disease, immunosuppression, adrenal activity, behavior anomalies, and self-narcotization (Broom, 1991). However, current studies evaluate additional indicators, such as natural behaviors, behavioral needs, preferences, behavioral problems, emotional state, cognitive abilities, etc. In the field of ethology, the expression of natural behavior is a frequently used tool used to estimate the welfare of poultry destined to human consumption. According to Bracke & Hopster (2006), natural behavior can be defined as the behavior the animal normaly presents when exposed to conditions similar to its natural habitat. Natural behaviors are pleasurable and promote biological functions that are meaningful to the animal's welfare. The definition of natural behavior, though, does not include the bird's behavior when sick, in flight or during aggression, since these are not considered pleasurable situations. Considering layer behavioral needs in the design of housing facilities optimize their welfare. Mishra et al. (2005) verified that ISA Brown layers spent, during 24 hours, around 97% of the time in the nest, feeding, walking, resting, or dust bathing, and that 57% of these behaviors did not depend on environmental enrichment. It was also observed that hens had preferred behavioral sequences, which included foraging and comfort behaviors, such as wing-stretching and preening. The present review aims at discussing, albeit not exhaustively, scientific research studies on the behavior of Gallusgallus domesticus and its relationship to welfare. The following behaviors are reviewed: feather pecking, scratching, dust bathing, nesting, locomotion activities, and aggressive behaviors. These behaviors are the most frequently observed in commercial broiler, broiler breeder, and layer farming, and therefore, monitoring their incidence may contribute to measure poultry welfare.

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Human health and environmental concerns are not usually considered at the same time. Tin-lead solders are still widely used in several countries, including Brazil, by manufacturers of electronic assemblies. One of the options to reduce or eliminate lead from the manufacturing environment is its replacement with lead-free alloys. This paper applies emergy synthesis and the DALY indicator (Disability Adjusted Life Years) to assess the impact of manufacturing soft solder using tin, lead and other metals on the environment and on human health. The results are presented together with the company's financial results and the results calculated from the Brazilian statistical value of life. The calculation of emergy per unit showed that more resources are used to produce one ton of lead-free solders than to produce one ton of tin-lead solders, with and without the use of consumer waste recovered through a reverse logistics system. The assessment of air emissions during solder production shows that the benefits of the lead-free solution are limited to the stages of manufacturing and assembling. The tin-lead solder appears as the best option in terms of resource use efficiency and with respect to emissions into the atmosphere when the mining stage is included. A discussion on the influence of the system's boundaries on the decision-making process for materials substitution is presented. (C) 2012 Elsevier Ltd. All rights reserved.

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In the capital market the information are used as subsidies for the decision making of investors, among the main highlights are the economic, political, accounting and relating nature to the financial results of companies which have stocks traded at Stock Exchanges. In this perspective, it is essential that the agents involved especially brokerage companies establish management processes that contain a set of criteria for the organization and treatment of information collected in newspapers, news agencies and the companies that trade in stocks. Thus, it is essential to establish rigor in relation to recovery mechanisms of such information, which requires more than technology, because actions are necessary that will propitiate the informational content are made available with consistency, clarity and trustworthiness, so as that users can retrieve them in a timely manner. Furthermore, those processes should provide the efficient use of the information retrieved by users, so that they can use them aiming to subsidize the decisions of sale or purchase shares. Considering that the information systems are responsible for the information dissemination in the framework of capital market, it is necessary to present requisites that contemplate the set organization, treatment, retrieval and use of information. That way, we sought to evidence in this paper these issues, utilizing as a premise the elements proposed by Guimarães (2003) from the perspective of the information environment of a values brokerage companies reflecting through the model used, how these companies realize their work considering the dimensions of the documentary analysis, informational treatment, and the instruments for retrieval and use of information.

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Currently, with the competitiveness that is seen in the market, it is crucial to the success of the business, develop new strategies to keep and win new customer preference. To ensure the success of a particular service or product, the secret is to continually meet the wishes and demands of the customers, which are the key parts of the business, through innovation, variety and quality assurance. To achieve this goal managers should be aware of all types of process that exist in the company, as they are primarily responsible and interested by quality service, customer satisfaction and consequently, generating favorable financial results. A tool used to ensure good results to business is the Quality Function Deployment (QFD) that seeks to hear and interpret customers requirements and turn them into essential features for a project

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In a globalized world, organizations face an increasingly dynamic, innovative and competitive environment, so that this condition requires continuous adaptation to market developments. Intense competition requires organizations to further improve their performance, making productive efficiency a key factor for survival. A methodology that has added value to the product through a reconfiguration of the production method is the implementation of a management philosophy called Lean Six Sigma. The main objective of this work is, in the light of the Lean Six Sigma philosophy, intervene in a critical-collaborative way to develop procedures for analyzing the profitability of products in a company specializing in steel processing. To achieve this goal, were applied the method of action-research to intervene in a group of professionals for the study of the profitability of products in a auto parts industry. The interaction of practical and theoretical knowledge provided by the action-research allowed the business program was enhanced. The procedures proposed in this study were able to identify the current profitability of the product, the main causes of inefficiency and productive for solutions to reduce production inefficiencies, when the productive systems planned and actual production system were compared. The results indicate that current profitability of -3%, while the parameter provided during budget was 10%. Thus, it is concluded that the low profitability of the products may compromise the company's financial results and affect their competitiveness in the market. To address this problem, the Lean Six Sigma presents itself as a versatile and high applicability philosophy, providing relevant results for characterization and troubleshooting. It was also observed that the evidence presented in this paper can be adapted to other companies in the metal auto parts segment to identify and recover the profitability of products

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Pós-graduação em Engenharia de Produção - FEG

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The presence or absence of motorized boats, partnerships and multispecies catches characterize the fisheries of Sao Francisco River, Minas Gerais, Brazil. Fishing activity based on 109 interviews, carried out in the wet (high water: February and March) and dry (low water: July and August) seasons, with professional fishermen are described. Aiming to identify the fishery income components, a covariance model was proposed, with the income as the response variable, related to the factors: fishing ground, use of motorized or paddle boat; seasonality; presence of fishing assistant, and the following covariates: capture in weight in the week Frier to the interview, fisherman experience in yrs; and distance (km) travelled for fishing. The results indicated that the main contributions to income were the absence of an engine (because of high price of the fuel), the absence of a partner (because of low capture) and the amount of fish caught by the fishermen.

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In this work we compared the estimates of the parameters of ARCH models using a complete Bayesian method and an empirical Bayesian method in which we adopted a non-informative prior distribution and informative prior distribution, respectively. We also considered a reparameterization of those models in order to map the space of the parameters into real space. This procedure permits choosing prior normal distributions for the transformed parameters. The posterior summaries were obtained using Monte Carlo Markov chain methods (MCMC). The methodology was evaluated by considering the Telebras series from the Brazilian financial market. The results show that the two methods are able to adjust ARCH models with different numbers of parameters. The empirical Bayesian method provided a more parsimonious model to the data and better adjustment than the complete Bayesian method.

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Following the thermodynamic formulation of a multifractal measure that was shown to enable the detection of large fluctuations at an early stage, here we propose a new index which permits us to distinguish events like financial crises in real time. We calculate the partition function from which we can obtain thermodynamic quantities analogous to the free energy and specific heat. The index is defined as the normalized energy variation and it can be used to study the behavior of stochastic time series, such as financial market daily data. Famous financial market crashes-Black Thursday (1929), Black Monday (1987) and the subprime crisis (2008)-are identified with clear and robust results. The method is also applied to the market fluctuations of 2011. From these results it appears as if the apparent crisis of 2011 is of a different nature to the other three. We also show that the analysis has forecasting capabilities. © 2012 Elsevier B.V. All rights reserved.

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This paper addresses the investment decisions considering the presence of financial constraints of 373 large Brazilian firms from 1997 to 2004, using panel data. A Bayesian econometric model was used considering ridge regression for multicollinearity problems among the variables in the model. Prior distributions are assumed for the parameters, classifying the model into random or fixed effects. We used a Bayesian approach to estimate the parameters, considering normal and Student t distributions for the error and assumed that the initial values for the lagged dependent variable are not fixed, but generated by a random process. The recursive predictive density criterion was used for model comparisons. Twenty models were tested and the results indicated that multicollinearity does influence the value of the estimated parameters. Controlling for capital intensity, financial constraints are found to be more important for capital-intensive firms, probably due to their lower profitability indexes, higher fixed costs and higher degree of property diversification.

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Family agriculture, mostly represented by rural settlements especially in the state of São Paulo, makes up rural establishments in Brazil. Current investigation collects, analyzes and compares data on farmers on two rural settlements in the western region of the state of São Paulo, specifically in the municipality of Rancharia, with regard to their socioeconomic, financial and productive infrastructure profile, coupled to information on eventual restrictions to rural credit, by an analysis based on descriptive statistics. Results show that there are different factors between farmers and production systems, which cause loan restrictions due to such differences as age, agricultural and cattle-breeding activity, technical assistance and management. The valorization of these differences should be taken into account for the construction of new events, without extremes, and work for situations featuring demand-based development and characteristics of the locality