Multicollinearity and financial constraint in investment decisions: a bayesian generalized ridge regression

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.

Can native vegetation recover after slash pine cultivation in the Brazilian Savanna?

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Carbon Stocks and Isotopic Composition of the Organic Matter in Soils Covered by Native Vegetation and Pasture in Sorocaba, SP, Brazil

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

Optimization of neural classifiers based on bayesian decision boundaries and idle neurons pruning

In this article we describe a feature extraction algorithm for pattern classification based on Bayesian Decision Boundaries and Pruning techniques. The proposed method is capable of optimizing MLP neural classifiers by retaining those neurons in the hidden layer that realy contribute to correct classification. Also in this article we proposed a method which defines a plausible number of neurons in the hidden layer based on the stem-and-leaf graphics of training samples. Experimental investigation reveals the efficiency of the proposed method. © 2002 IEEE.

The role of native vegetation on infection rates of Calacarus heveae (Acari: Eriophyidae) by Hirsutella thompsonii (Ascomycota: Ophiocordycipitaceae)

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

Mites from Cerrado fragments and adjacent soybean crops: does the native vegetation help or harm the plantation?

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

Can Eucalyptus invade native forest fragments close to commercial stands?

Some Eucalyptus species are widely used as a plantation crop in tropical and subtropical regions. One reason for this is the diversity of end uses, but the main reason is the high level of wood production obtained from commercial plantings. With the advancement of biotechnology it will be possible to expand the geographical area in which eucalypts can be used as commercial plantation crops, especially in regions with current climatic restrictions. Despite the popularity of eucalypts and their increasing range, questions still exist, in both traditional planting areas and in the new regions: Can eucalypts invade areas of native vegetation, causing damage to natural ecosystems biodiversity?The objective of this study it was to assess whether eucalypts can invade native vegetation fragments in proximity to commercial stands, and what factors promote this invasive growth. Thus, three experiments were established in forest fragments located in three different regions of Brazil. Each experiment was composed of 40 plots (1 m(2) each one), 20 plots located at the border between the forest fragment and eucalypts plantation, and 20 plots in the interior of the forest fragments. In each experimental site, the plots were paired by two soil exposure conditions, 10 plots in natural conditions and 10 plots with soil exposure (no plant and no litter). During the rainy season, 2 g of eucalypts seeds were sown in each plot, including Eucalyptus grandis or a hybrid of E. urophylla x E. grandis, the most common commercial eucalypt species planted in the three region. At 15, 30, 45, 90, 180, 270 and 360 days after sowing, we assessed the number of seedlings of eucalypts and the number of seedlings of native species resulting from natural regeneration. Fifteen days after sowing, the greatest number of eucalypts seedlings (37 m(-2)) was observed in the plots with lower luminosity and exposed soil. Also, for native species, it was observed that exposed soil improved natural germination reaching the highest number of 163 seedlings per square meter. Site and soil exposure were the factors that have the greatest influence on seed germination of both eucalypt and native species. However, 270 days after sowing, eucalypt seedlings were not observed at any of the three experimental sites. The result shows the inability of eucalypts to adapt to condition outside of their natural range. However, native species demonstrated their strong capacity for natural regeneration in forest fragments under the same conditions where eucalypts were seeded. (C) 2011 Elsevier B.V. All rights reserved.

Variabilidade espacial de atributos químicos do solo sob diferentes usos e manejos

O uso e manejo do solo e da cultura são importantes condicionadores da variabilidade de atributos do solo. O trabalho foi desenvolvido em Selvíria (MS), com o objetivo de avaliar a variabilidade espacial do pH, potássio (K), cálcio (Ca), magnésio (Mg) e saturação por bases (V) em Latossolo Vermelho sob diferentes usos e manejos. Os solos foram amostrados em malha, com intervalos regulares de 2 m, perfazendo o total de 64 pontos, nas profundidades de 0,0-0,1 e 0,1-0,2 m, nas seguintes áreas: vegetação natural (Cerrado), plantio direto, plantio convencional e pastagem. As maiores variabilidades, medidas por meio do coeficiente de variação, foram observadas para K, Mg e Ca; o pH apresentou o menor coeficiente de variação nos diferentes usos e manejo do solo, e o atributo V, coeficiente de variação médio. Os sistemas preparo convencional e pastagem apresentaram os menores alcances quando comparado aos sistemas Cerrado e plantio direto.

Variação de armazenagem de água num latossolo de cerrado em recuperação

Pós-graduação em Agronomia - FEIS

Diagnóstico ambiental da bacia hidrográfica do córrego do Bugre em Alumínio - SP

Pós-graduação em Ciências Ambientais - Sorocaba

Aplicação de análise multicriterial para determinação de áreas prioritárias à recomposição florestal

Using the Geographic Information System (GIS) and taking into account its capability to analyze spatial data, a database of updated spatial data from the sub-basin of the Descalvado stream, Botucatu, SP, was developed to provide an evaluation and diagnosis of the area concerning land use and the degradation processes therein. Through GIS, priority areas for forest recovery were defined by Multicriteria Evaluation and using the Ordered Weighted Average method. The latter allows the decision maker to define the area to be recovered, facing limitation of resources, among one of the proposed scenarios, or do it in stages. The study showed that there are accelerated erosion processes in the headwaters of the springs of water bodies; there is also fragmentation of native vegetation, especially in hillside areas, and little presence of native vegetation in riparian areas. The application of the multicriteria analysis using the Ordered Weighted Average was important as it systematized and discriminated scenarios of priority for forest recovery.

Degradação urbana decorrente da atividade de mineração para a construção civil em Teresina - PI

Pós-graduação em Geografia - IGCE

Atributos de qualidade de solos sob dois diferentes tipos de manejo no município de Ibiúna/SP, Brazil

Agricultural activity has direct consequences on the soil and water quality. Thus, assessing environmental impacts of this vital economic activity, through soil attribute analysis, is essential to the proposal of alternatives. The aim of this study was to analyze soil quality under different land management practices, conventional and organic. The study was carried out in a watershed of the Ibiuna municipality, SP, Brazil, an important supplier of agricultural products for the São Paulo metropolitan area. A hundred samples were collected, 20 in each type of land use: reforested areas, native vegetation, pasture, conventional cultivation and organic cultivation. The soil resistance to penetration, its pH (in water and KO), electrical conductivity, bulk density, particle density, porosity, soil color, soil texture and the percentages of carbon and nitrogen were analyzed. The data were statistically analyzed, searching for significant differences. The results of soil analysis showed great similarity between the organic and conventional culture, with no statistical differences. However, organic cultivation showed greater similarity to the soil of native vegetation in the percentage of carbon and nitrogen in soils compared to conventional culture. Thus, the discussion begins on a topic very little explored so far, and the results obtained should be further studied.

Composição da fauna de formigas (Hymenoptera: Formicidae) de serapilheira em florestas semidecídua e de Eucalyptus spp., na região sudeste do Brasil

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Influência do manejo do solo nas propriedades químicas e físicas em topossequência na bacia do rio Araguaia, Estado do Tocantins

A conversão do Cerrado nativo em áreas de exploração agrícola pode modificar os processos de decomposição e síntese da matéria orgânica do solo e, assim, na disponibilidade de nutrientes. Objetivou-se avaliar as propriedades químicas e físicas do solo em topossequência caracterizada por apresentar uso com pastagem cultivada com Brachiaria brizantha ao lado do Cerrado nativo, na camada de 0- 15 cm de profundidade. O estudo foi realizado no município de Colmeia, Estado do Tocantins. Foram determinados 10 pontos de coleta (cinco para Cerrado nativo e cinco para pasto) para cada posição do relevo (topo, encosta e pedimento); em cada ponto amostral, foram coletados solos em três profundidades (0-5, 5-10 e 10- 15 cm), totalizando 90 amostras. Foram realizadas as seguintes análises químicas e físicas: C orgânico, P, K+, Ca2+, Mg2+, H + Al, pH e granulometria. O C orgânico não apresentou diferença (p > 0,05) entre os valores encontrados no Cerrado nativo e pastagem e as posições do relevo avaliadas. A conversão de Cerrado nativo para uso agropecuário reduziu os teores de P. Os teores de K trocável não foram alterados pela retirada da cobertura vegetal original. Observou-se aumento dos teores de areia quando se passou da meia-encosta para o pedimento.