Efeitos da internacionalização no desvio da estrutura de capital alvo e na velocidade de ajuste

This dissertation investigates the effects of internationalization in two gaps related to the capital structure that have not been discussed by the Brazilian literature yet. To this, were developed two independent sections. The first examined what the effects of internationalization on the deviation from the target capital structure. The second examined what the effects of internationalization on speed of adjustment (SOA) of the capital structure. It used data from Brazil, multinational and domestic companies, from 2006 to 2014. The results of the first analysis indicate that internationalization helps reduce the difference between the target and the current debt. That is, to the extent that the level of internationalization increases; whether only export or a combination of export, assets and employees abroad, the gap between the current structure and the target structure decreases. This reduction is given as a function of internationalization as a consequence of the upstream effect of the upstream-downstream hypothesis. Thus, as the Market Timing theory, it can be seen as an opportunity for adjustment of the capital structure, and with the reduction of deviation, there is also a reduction in the cost of capital of the firm. The result of the second analysis indicates that internationalization is able to significantly increase the speed adjustment, ensuring for the multinational a faster adjustment of its capital structure. Exports increase the SOA in 9 to 23%. And when also kept active assets and employees abroad the increase is 8 to 20%. In terms of time, while domestic company takes more than three years to reduce half of the deviation that has, while multinacional companies take on average one and a half year to reduce the same proportion of the deviation. The validity of the upstream-downstream hypothesis for the effect of internationalization in SOA was confirmed by comparing the results for US companies. Thus, the phenomenon of internationalization increases SOA when companies are from less stable markets, such as Brazil; and it has a less significcative effect when companies are derived from more stable markets, because they already have a high speed of adjustmennt. In addition, the adequacy analysis of the estimators also showed the model pooled OLS (Ordinary Least Squares) presents the highest quality in predicting the SOA than the system GMM (Generalized Method of Moments). For future studies it is suggested to analyze the effect of international event, by itself, and to validate the hypothesis using samples of different markets and the use of other estimators.

A crença sobre a morte e o coping religioso-espiritual em pacientes internados com doenças crônicas

The human being is understood as an integral being, complex, which has multiple dimensions: social, biological, psychological, anthropological, spiritual and others. As its biological dimension, the man presents the possibility of physical illness, which means that the body requires care. The sick away from humans in health and safety conditions, approaching them directly from the finitude and vulnerability condition, leading us to contact the major uncertainties of life: suffering of disease and death. Religiosity and spirituality are important coping strategy for human when faced with borderline situations. When people turn to religion to cope with stress is the religious and spiritual coping. The objective of this research was to evaluate the relationship between the views on death and the religious-spiritual coping in patients with chronic diseases hospitalized. The study included ten patients hospitalized for chronic disease complications Medical Clinic Unit of a public hospital in the city of Uberlândia/MG. two psychological scales were used: Scale Religious-Spiritual Coping Brief (CRE-Brief Scale) and Scale Brief Diverse Perspectives of Death and a structured interview (audiogravada) on the subject of death and religious and spiritual coping. The results indicated that 80% of the sample (N = 8) consisted of patients hospitalized due to chronic diseases, while 20% accounted for patients with AIDS complications. Analyzing the results of scale CRE-Brief, it emphasizes the use of strategies of religious and spiritual coping by participants as compared to CRE Total, all study participants had average or high scores for this index, with a low utilization CRE negative and average utilization CRE Positive. Regarding views on death, the results obtained by the Different Perspectives Quick Scale on Death suggest that this sample agrees with the view death as something that is part of the natural cycle of life (M8 - Death as a natural end) and features the prospect of death as uncertainty, mystery and ignorance (M4 - death as Unknown). The correlations between the measures the factors and items of CRE-Bref and dimensions of Short scales on different perspectives of Death notes the prevalence of correlations of M4 dimensions - Death as unknown and M8 - Death as a natural order to the creditor scale soon. In the interview analysis revealed a positive influence of religion/ spirituality on health, from the perspective of the respondent, highlighting the protection promoted by religion. It also noticed the use of prayer as a coping strategy of hospitalization and illness. Regarding the interview about the topic of death, there was a predominance of issues related to "afterlife", "unknown" and "abandonment", which are associated with the visions of death and mystery and death as a natural end. In the interviews there belief clues about death as a terrifying mystery connected, so the unknown and the feeling of fear on the same. The experience of illness can therefore be considered as a source of vulnerability, since it is present personal perception of danger (external) - own illness and possible death, especially in those patients undergoing ICU - and where control is insufficient for the sense of security, since the hospital providing care to the patient are delegated to third parties and patients assume a passive role. This fact is important and relevant to health professionals who deal daily with patients hospitalized for chronic diseases, since the recourse to religion and spirituality as a coping strategy that psychic movement was not constituted in a form of negative distance or even denial of health condition. On the contrary, it refers to a movement in search of comfort and security provided by the religion and spirituality.