Química e sustentabilidade: novas fronteiras em biocombustíveis

This contribution discusses the state of the art and the challenges in producing biofuels, as well as the need to develop chemical conversion processes of CO2 in Brazil. Biofuels are sustainable alternatives to fossil fuels for providing energy, whilst minimizing the effects of CO2 emissions into the atmosphere. Ethanol from fermentation of simple sugars and biodiesel produced from oils and fats are the first-generation of biofuels available in the country. However, they are preferentially produced from edible feedstocks (sugar cane and vegetable oils), which limits the expansion of national production. In addition, environmental issues, as well as political and societal pressures, have promoted the development of 2nd and 3rd generation biofuels. These biofuels are based on lignocellulosic biomass from agricultural waste and wood processing, and on algae, respectively. Cellulosic ethanol, from fermentation of cellulose-derived sugars, and hydrocarbons in the range of liquid fuels (gasoline, jet, and diesel fuels) produced through thermochemical conversion processes are considered biofuels of the new generation. Nevertheless, the available 2nd and 3rd generation biofuels, and those under development, have to be subsidized for inclusion in the consumer market. Therefore, one of the greatest challenges in the biofuels area is their competitive large-scale production in relation to fossil fuels. Owing to this, fossil fuels, based on petroleum, coal and natural gas, will be around for many years to come. Thus, it is necessary to utilize the inevitable CO2 released by the combustion processes in a rational and economical way. Chemical transformation processes of CO2 into methanol, hydrocarbons and organic carbonates are attractive and relatively easy to implement in the short-to-medium terms. However, the low reactivity of CO2 and the thermodynamic limitations in terms of conversion and yield of products remain challenges to be overcome in the development of sustainable CO2 conversion processes.

Changes in the physicochemical and microbiological properties of frozen araça pulp during storage

Araça belongs to the Myrtaceae family and is popularly known as araçá-comum, araçá-azedo, or araçá-do-campo. Frozen fruit pulp is of great importance for the food industry, which can produce it at the time of harvest, store it, and use it according to the demand of the consumer market and/or as an ingredient in the formulation of products such as yogurt, candies, and ice creams among others. The aim of this study was to evaluate the physical, chemical, and microbiological stability of frozen araça pulp during 12 months of frozen storage. It was observed that the levels of moisture (90.55-88.75%), ash (0.34-0.26%) total soluble sugars (7.11-6.62%), sucrose (3.55-1.39%), soluble pectin (0.24-0.23%), total pectin (0.5-0.46%), pH (3.82-2.31%), organic acids (698.12-122.25 µg.g-1 citric acid), and phenolic compounds (6.22-0.00 mg GAE.100 g-1) decreased during storage, whereas the levels of protein (0.61-0.83%), lipids (0.14-0.38%), total carbohydrates (8.36-9.78%), calorific value (37.14-45.86 kcal.100 g-1), reducing sugars (3.51-5.21%), soluble solids (5.17-6.0%), total antioxidant capacity (6.89-35.13%), and color parameters (L*49.75-50.67; a*0.79-1.82 and b*22.5-25.19) increased over the one-year storage period. According to the chemical and microbiological parameters assessed, the product can be stored for 12 months without loss of quality with addition of citric acid as a preservative.

Assessing environmental impacts using a comparative LCA of industrial and artisanal production processes: "Minas Cheese" case

This study uses the Life Cycle Assessment (LCA) methodology to evaluate and compare the environmental impacts caused by both the artisanal and the industrial manufacturing processes of "Minas cheese". This is a traditional cheese produced in the state of Minas Gerais (Brazil), and it is considered a "cultural patrimony" in the country. The high participation of artisanal producers in the market justifies this research, and this analysis can help the identification of opportunities to improve the environmental performance of several stages of the production system. The environmental impacts caused were also assessed and compared. The functional unit adopted was 1 kilogram (Kg) of cheese. The system boundaries considered were the production process, conservation of product (before sale), and transport to consumer market. The milk production process was considered similar in both cases, and therefore it was not included in the assessment. The data were collected through interviews with the producers, observation, and a literature review; they were ordered and processed using the SimaPro 7 LCA software. According to the impact categories analyzed, the artisanal production exerted lower environmental impacts. This can be justified mainly because the industrial process includes the pasteurization stage, which uses dry wood as an energy source and refrigeration.

Check all that apply (CATA) as an instrument for the development of fish products

Abstract The objective of this paper is to develop a fish-based product. Through the innovative sensorial check all that apply (CATA) technique, employed in two stages of the development of the product – market research and the sensorial and hedonistic characterization of the final product – the aim was to develop a fish by-product that could respond to the needs of the consumer market. Results showed that the CATA technique is an important instrument for researching the consumer market and indicated the kind of fish by-product to be developed and its desired features. Nugget was the resulting by-product. The second application of CATA made possible the sensorial description of the by-product as being crisp, with little fish odor, light in color, well-seasoned and tasty. Therefore, the CATA technique proved to be an important research instrument in the fish consumption market as well as a quick technique for the complete description of fish nuggets.

Problems in the regulatory policy of the drug market

OBJECTIVE Analyze the implementation of drug price regulation policy by the Drug Market Regulation Chamber.METHODS This is an interview-based study, which was undertaken in 2012, using semi-structured questionnaires with social actors from the pharmaceutical market, the pharmaceuticals industry, consumers and the regulatory agency. In addition, drug prices were compiled based on surveys conducted in the state of Sao Paulo, at the point of sale, between February 2009 and May 2012.RESULTS The mean drug prices charged at the point of sale (pharmacies) were well below the maximum price to the consumer, compared with many drugs sold in Brazil. Between 2009 and 2012, 44 of the 129 prices, corresponding to 99 drugs listed in the database of compiled prices, showed a variation of more than 20.0% in the mean prices at the point of sale and the maximum price to the consumer. In addition, many laboratories have refused to apply the price adequacy coefficient in their sales to government agencies.CONCLUSIONS The regulation implemented by the pharmaceutical market regulator was unable to significantly control prices of marketed drugs, without succeeding to push them to levels lower than those determined by the pharmaceutical industry and failing, therefore, in its objective to promote pharmaceutical support for the public. It is necessary reconstruct the regulatory law to allow market prices to be reduced by the regulator as well as institutional strengthen this government body.

The ideal table grapes for the Spanish market

This paper seeks to explore a survey of consumers in Spain. The survey explores the attributes of quality that consumers are seeking and promotion of grapes via "quality" marks, which are indicators of possible ways to increase demand. The reason consumers are switching to other foods, such as dairy based snacks, is that grapes are not easy to eat, can be unreliable in terms of their quality attributes, and their price more variable. Consumers are also generally unaware of the marks quality currently used.

Consumer preferences of genetically modified foods of vegetal and animal origin in Chile

Given the debate generated by Genetically Modified (GM) foods in developed and developing countries, the aim was to evaluate the importance of determining factors in the preference of consumers in Temuco and Talca in central-southern Chile for GM foods using conjoint analysis and to determine the existence of different market segments using a survey of 800 people. Using conjoint analysis, it was established that, in general, genetic modification was a more important factor than either brand or price in the consumer's decision to purchase either food. Cluster analysis identified three segments: the largest (51.4%) assigned greatest importance to brand and preferred genetically modified milk and tomato sauce; the second group (41.0%) gave greatest importance to the existence of genetic manipulation and preferred non-genetically modified foods; the smallest segment (7.6%) mainly valued price and preferred milk and tomato sauce with no genetic manipulation. The three segments rejected the store brand and preferred to pay less for both foods. The results are discussed based on studies conducted in developed and developing countries.

Sugarcane spirit market share simulation: an application of conjoint analysis

This study evaluated the influence of packaging and labeling attributes of sugarcane spirit on consumers' behavior by applying the results of conjoint analysis in sugarcane spirit market share simulation. Firstly, a conjoint analysis was performed aiming to estimate the part-worths of each consumer for some sugarcane spirit packaging and labeling attributes. These part-worths were used in the market share simulation using the maximum utility model. It was observed that some packaging and labeling attributes affected consumer's purchase intention and that most consumers showed a similar preference pattern regarding these attributes. These consumers showed preference for the Seleta brand, which was bottled in 700 mL clear glass bottles with a metal screw cap that bore a label illustration unrelated to sugarcane spirit production process and had the information "aged 36 months in oak barrels". This study also showed that conjoint analysis and the use of its results in the market share simulation proved important tools to better understand consumer behavior towards intention to purchase sugarcane spirit.

The tale of a Trojan horse or the quest for market access? China and the World Trade Organization

In 2001, China finally joined the WTO. The accession of China was looked forward to by many WTO members and China itself. However, observers had some fears that the Chinese accession would prove to be a Trojan horse, disrupting the working of the WTO. This paper looks into the Chinese accession and its involvement in the WTO Dispute Settlement and argues that these fears seem so far to be unfounded.

Options listing and the volatility of the underling asset: a study on the derivative market function

There are basic misunderstandings on derivative markets. Some professionals believe that they are a kind of casinos and have no utility for the investors. This work looks at the effects of options introduction in the Brazilian market, seeking for another benefit for this introduction: changes in the stocks risk leveI. Our results are the same found in the US and other markets: the options introduction reduces the stocks volatility. We also found that there is a slight indication that the volatility becames more stochastic with this alternative.

An optimal level of technology reliance on foreign partners in a global sourcing partnership: components procurement, technology management and market performance

Existing studies on global sourcing strategy have implicitly adopted a cJosed-systems perspective in which sourcing activities are managed within a multinational company across national boundaries. Produd and process innovations and components procurement that are jointly managed by a consortium of cooperating firms have not been examined. In this paper, we empiricallyexamine the issues concerning sourcing partnerships in an open-systems perspective. Findings suggest that even in a sourcing partnership arrangement with a foreign supplier, the principal firm's ability to procure and control the supply of major components has a positive bearing on its market performance.

Market timing e avaliação de desempenho dos fundos brasileiros

Este trabalho avalia o desempenho de fundos de investimento brasileiros pelo seu market timing, ou seja, pela capacidade de os gestores anteciparem diferenças de retorno das ações em relação a um ativo de renda fixa. Utilizam-se testes - paramétrico e não-paramétrico - desenvolvidos por Henriksson e Merton para a análise do desempenho de 243 fundos, no período de setembro de 1998 a outubro de 2003. Encontra-se evidência de habilidade de market timing para uma minoria de gestores de fundos, resultado que aparentemente se deve à maior facilidade de se preverem grandes diferenças de retorno entre o mercado acionário e a taxa de juros livre de risco.

Key factors in working capital management in the Brazilian market

Many studies have been conducted in corporate finance regarding long-term investment and financing decisions. However, short-term asset investments play a significant role in the balance sheet of companies. Moreover, financial managers dedicate significant amounts of time and effort to the subject of working capital management, balancing current assets and liabilities. This paper provides insights regarding the key factors of working capital management by exploring the internal variables of a number of companies. This study used data from 2,976 Brazilian public companies from 2001 to 2008, and found that debt level, size and growth rate can affect the working capital management of companies.

Consumer Culture Theory (CCT) já é uma escola de pensamento em marketing?

A década de 1980 trouxe uma visão alternativa à corrente positivista predominante no campo de pesquisa do consumidor: a Consumer Culture Theory (CCT), que assume uma orientação epistemológica baseada no interpretativismo e na pesquisa qualitativa. Diante do destaque alcançado pela CCT, levantou-se a seguinte questão: a CCT já pode ser considerada uma escola de pensamento em marketing autônoma? Pautados em três critérios fundamentais para a qualificação de uma escola de pensamento (reconhecimento acadêmico, corpo de conhecimento e contribuições), foi realizada uma desk research, baseada em periódicos e artigos da área e na construção de um corpus de pesquisa construído com base nas referências contidas no texto seminal Consumer Culture Theory (CCT): twenty years of research. A conclusão é de que a CCT atende aos critérios adotados na presente pesquisa, podendo ser considerada uma escola de pensamento a utônoma dentro do campo de pesquisa do consumo.

Influence of discount price announcements on consumer's behavior

The theoretical framework that underpins this research study is based on the Prospect Theory formulated by Kahneman and Tversky, and Thaler's Mental Accounting Theory. The research aims to evaluate the consumers' behavior when different patterns of discount are offered (in percentage and absolute value and for larger and smaller discounts). Two experiments were conducted to explore these patterns of behavior and the results that were obtained supported the view that the framing effect was a common occurrence. The patterns of choice of individuals in a sample were found to be different due to changes in the ways discounts were offered. This can be explained by the various ways of presenting discount rates that had an impact on the influence of purchase intentions, recommendations and quality perception.