Profitability measures of dairy cows

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Does disturbance affect bud bank size and belowground structures diversity in Brazilian subtropical grasslands?

Brazilian Campos grasslands are ecosystems under high frequency of disturbance by grazing and fires. Absence of such disturbances may lead to shrub encroachment and loss of plant diversity. Vegetation regeneration after disturbance in these grasslands occurs mostly by resprouting from belowground structures. We analyzed the importance of bud bank and belowground bud bearing organs in Campos grasslands. We hypothesize that the longer the intervals between disturbances are, the smaller the size of the bud bank is. Additionally, diversity and frequency of belowground organs should also decrease in areas without disturbance for many years. We sampled 20 soil cores from areas under different types of disturbance: grazed, exclusion from disturbance for two, six, 15 and 30 years. Belowground biomass was sorted for different growth forms and types of bud bearing organs. We found a decrease in bud bank size with longer disturbance intervals. Forbs showed the most drastic decrease in bud bank size in the absence of disturbance, which indicates that they are very sensitive to changes in disturbance regimes. Xylopodia (woody gemmiferous belowground organs with hypocotyl-root origin) were typical for areas under influence of recurrent fires. The diversity of belowground bud bearing structures decreased in the absence of disturbance. Longer intervals between disturbance events, resulting in decrease of bud bank size and heterogeneity of belowground organs may lead to the decline and even disappearance of species that relay on resprouting from the bud bank upon disturbance. (C) 2014 Elsevier GmbH. All rights reserved.

Allelopathic potential and survey of natural seed bank under the canopy of Copaifera Langsdorffii Desf

The aim of this study was to evaluate the allelopathic effect of soil samples collected under the canopies of three specimens of Copaifera langsdorffii the germination of Lactuca sativa and survey the natural seed bank according to seasonality. To test the allelopathic effect was carried experiments of pre and post-emergence with seeds of L. sativa and to quantify the stock of seeds, soil samples were collected from three specimens at three distances from the stem (1, 2 and 3 m) and at three depths (0-5, 5-10 and 10-15cm) in the region of savanna in the dry and wet seasons. The samples tested in bioassay of pre-emergence no significant influence on germinability, mean germination time and mean germination speed, but showed a difference in the synchronism of germination, these data were independent of sampling station. In test for post-emergence was observed statistical difference in the parameters evaluate (length of primary roots and hypocotyls) in both seasons. To quantify the natural seed bank were macroscopic analysis of each soil sample with the help of stereoscopic microscope. The analysis of the natural seed bank showed a larger number of seeds in the 0-5cm and in distance of 2m for both seasons. The results suggest the presence of allelochemical substances in soil samples collected under the canopy of Copaifera langsdorffii.

Bank efficiency in Brazil: the importance for economic sustainability

Studies on efficiency achieved greater relevance in organisations within an open market framework, which in Brazil began around 1990. The objective of this paper, applying the data envelopment analysis methodology, is to analyse the efficiency of banks operating in the country using the database termed 'the biggest banks', periodically divulged by the Central Bank of Brazil in 2010-2012. The methodology was applied to the 26 largest banking organisations via two approaches, one was financial intermediation and the other was results. In the financial intermediation approach, the efficiency increase was the highest among banks specialised in credit from 2010 to 2012. Retail banks, especially the large ones, felt most intensely the reaction of 2011, a year considered as the sector's low performance year. In the results approach, the efficiency increase was higher among retail banks. Factors such as retractions in the SELIC rate and bank spreads impacted all banks, regardless of the segment.

Irrigation and intercropping with macadamia increase initial arabica coffee yield and profitability

Fundação de Amparo à Pesquisa do Estado de São Paulo (FAPESP)

Banco do Vaticano: uma análise econômico-financeira

This thesis work aims to bring a better viewing on an atypical case of financial analysis. The lstituto per le Opere di Religione (IOR), commonly known as the Vatican Bank, has peculiarities according to its goals as a bank. Belonging to a Catholic religious congregation, IOR has been used to manage the resources of the church, and ensure that these resources are used for the operation of it and, also for religious works. However the financial transactions made by the bank remained secret throughout its existence until mid 2012. This feature of not providing relevant information at the local and international community brought harm. Several cases of corruption and money laundering came up, bringing scandals that cause bad looks for the religious entity. In order to interact with the international community and understanding the importance of it, the Roman Apostolic Catholic Church decides to joing the international accounting procedures (IFRS) and went on to provide yearly financial statement reports and other information from its bank from 2012 . Thus, this thesis work takes on the role of analyzing the financial statements of the IOR and present its economic and financial health from the Capital Structure ratios, liquidity and profitability in the period 2012-2014. Overall, there has been a significant reduction in indebtedness 548% in 2012 to 362% in 2014. However, such an index showing is still high. In addition, the debt profile remained bad (87.47% short-term in 2014). The Liquidity ratios, both indices fell during the analysed period. Noteworthy is that even with retractions, the indices are equal or greater than 1, which indicates financial footing able to pay off debts. Regarding profitability, in 2013 it represented atypical moment, considering the economic performance of the IOR in the investigated period. There was decrease in profits this year, which resulted in great loss of the indicators in 2013. For the previous and subsequent...

Eficiência bancária no Brasil: uma análise envoltória de dados (DEA)

Fundação de Amparo à Pesquisa do Estado de São Paulo (FAPESP)