58 resultados para Tender offer
em Scielo Saúde Pública - SP
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Procura-se demonstrar neste artigo que o arranjo inter-organizacional típico dos Sistemas Complexos de Produção é o de rede de firmas, marcada por uma forte especialização dos agentes que a compõem e uma intensa complementaridade entre eles. Nesse tipo de arranjo, a empresa que exerce a governança da rede busca estimular o processo de eficiência coletiva. Essa busca, por sua vez, dada a freqüente heterogeneidade dos agentes, termina por induzir a rede de firmas a transformar-se em uma rede de aprendizado. Apesar do conhecimento sobre essas redes ser ainda muito precário, podem-se levantar, com base na literatura revisada e no exame de uma rede de aprendizado em implantação no Brasil, os seguintes aspectos: ela precisa ter um propósito claro, traduzível em uma meta a ser atingida por intermédio do processo de aprendizado; é necessário criar uma estrutura, que pode tender ao virtual, e definir recursos e mecanismos a serem utilizados em sua implantação e sustentação; e deve-se tentar prever, a partir de outras experiências, as inevitáveis dificuldades que surgirão no planejamento e operacionalização dessas redes.
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This article jointly examines the differences of laboratory versions of the Dutch clock open auction, a sealed-bid auction to represent book building, and a two-stage sealed bid auction to proxy for the “competitive IPO”, a recent innovation used in a few European equity initial public offerings. We investigate pricing, seller allocation, and buyer welfare allocation efficiency and conclude that the book building emulation seems to be as price efficient as the Dutch auction, even after investor learning, whereas the competitive IPO is not price efficient, regardless of learning. The competitive IPO is the most seller allocative efficient method because it maximizes offer proceeds. The Dutch auction emerges as the most buyer welfare allocative efficient method. Underwriters are probably seeking pricing efficiency rather than seller or buyer welfare allocative efficiency and their discretionary pricing and allocation must be important since book building is prominent worldwide.
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ABSTRACT Based on the assumption that earnings persistence has implications for both financial analysis and compensation contracts, the aim of this paper is to investigate the role of earnings persistence assuming that (i) more persistent earnings are likely to be a better input to valuation models and (ii) more persistent earnings are likely to serve as a proxy for long-term market and managerial orientation. The analysis is based on Brazilian listed firms from 1995 to 2013, and while we document strong support for the relevance of earnings persistence in financial analysis and valuation, we fail to document a significant relationship between earnings persistence and long-term value orientation. These results are sensitive to different specifications, and additional results suggest that firms' idiosyncratic risk (total risk) is relevant to explain the focus on short-term outcomes (short-termism) across firms. The main contribution of this paper is to offer empirical evidence for the relevance of accounting numbers in both valuation and contractual theories in an emergent market.
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La gestión del valor económico implica que la dirección de la empresa debe preocuparse de forma eficaz en como alcanzar esta eficiencia en la generación del valor y en como lograr su equitativa distribución, ya que la sociedad actual no puede ser concebida solamente como un mercado sino que está constituida por un conjunto de personas que participan de forma cooperativa y competitiva en la comunidad, que tienen determinadas motivaciones y que actúan colectivamente, coordinando sus acciones según los objetivos de sus empresas, en la búsqueda de alcanzar sus propias expectativas, por lo que al centrar nuestro interés en los trabajadores de la empresa surgen dos variables de análisis y que están directamente relacionadas con la motivación, independientes en su génesis, pero que interactúan entre sí, por un lado la falta de insatisfacción laboral, y por otro la satisfacción laboral, aspectos que son analizados en este artículo y su influencia en la creación de valor económico en la empresa. Es fundamental que la empresa identifique y conozca las expectativas de cada uno de sus trabajadores, con lo cual se podrá establecer estrategias que le permitan poder alinear éstas a los objetivos organizacionales y a la creación o incremento de su valor económico, y así tender a reducir la falta de insatisfacción y apuntar a la motivación y satisfacción del personal.
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The international tourism system has deeply undergone structural changes in the last decades which not remain outside the subsystem higher education in tourism, especially in the European case. This article has two objectives: firstly, describes the European higher education area and the objectives, skills and subjects taught in the main Spanish universities that offer higher education in tourism. On the other hand, in the light of knowledge that researchers' descriptive models, provide experience of the implementation of European credit and thorough a deeply review of the literature on the topic higher education in tourism, to propose strategies that will enable other tourism higher education systems approach to the European reality. These policy proposals are aimed at agents and elements from higher education in tourism subsystem and they specifically include: the institutions providing education in tourism, the curriculum, the teaching methods, teachers and students.
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O presente trabalho trata de um estudo sobre a racionalidade substantiva no processo decisório em duas instituições que lidam com o tratamento oncológico em crianças e adolescentes na cidade de Natal, no estado do Rio Grande Norte. A partir de uma revisão de literatura sobre a racionalidade substantiva, o objetivo da pesquisa é perceber aspectos relacionados ao processo decisório que possam servir de base para elaborar as categorias de análise do processo Tomada de Decisão, agregando-as a um novo estudo que possa proporcionar o avanço do tema na ciência administrativa. Serviram de base para o aprofundamento do tema os trabalhos acadêmicos que seguiram o modelo de análise elaborado por Maurício Serva, cujo quadro verifica a racionalidade predominante em 11 processos administrativos internos em organizações produtivas. Tendo como base teórica a obra de Guerreiro Ramos, que constata a existência de um tipo de organização ideal, o estudo recorre ao pensamento de Karl Polanyi, que procura compreender o fenômeno econômico independente do valor que permite considerar economias não mercantis. Para melhor compreender a racionalidade resgatam-se os estudos de Max Weber, que investiga o significado de ação social, e com Jürgen Habermas se tem uma concepção mais abrangente de razão através da teoria da ação comunicativa. Como resultado da revisão do tema foi elaborado um quadro com sete categorias de análise que, aplicadas nas instituições pesquisadas, tornou possível conhecer a racionalidade predominante no processo decisório. Os resultados da pesquisa confirmam que, embora a decisão envolva elementos racionais, existem também valores específicos de cada indivíduo ligados à sua experiência de visão de mundo, permeados não só pela racionalidade instrumental como também pela racionalidade substantiva. O estudo comprovou que duas instituições pertencentes ao mesmo setor podem apresentar diferentes tipos de racionalidade na tomada de decisão, quando fatores decisórios podem tender para a racionalidade instrumental, de acordo com o pensamento clássico da administração, como também podem emergir da racionalidade substantiva, contribuindo para o processo de emancipação do ser humano na esfera do trabalho.
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In the past thirty years, a series of plans have been developed by successive Brazilian governments in a continuing effort to maximize the nation's resources for economic and social growth. This planning history has been quantitatively rich but qualitatively poor. The disjunction has stimulated Professor Mello e Souza to address himself to the problem of national planning and to offer some criticisms of Brazilian planning experience. Though political instability has obviously been a factor promoting discontinuity, his criticisms are aimed at the attitudes and strategic concepts which have sought to link planning to national goals and administration. He criticizes the fascination with techniques and plans to the exclusion of proper diagnosis of the socio-political reality, developing instruments to coordinate and carry out objectives, and creating an administrative structure centralized enough to make national decisions and decentralized enough to perform on the basis of those decisions. Thus, fixed, quantified objectives abound while the problem of functioning mechanisms for the coordinated, rational use of resources has been left unattended. Although his interest and criticism are focused on the process and experience of national planning, he recognized variation in the level and results of Brazilian planning. National plans have failed due to faulty conception of the function of planning. Sectorial plans, save in the sector of the petroleum industry under government responsibility, ha e not succeeded in overcoming the problems of formulation and execution thereby repeating old technical errors. Planning for the private sector has a somewhat brighter history due to the use of Grupos Executivos which has enabled the planning process to transcend the formalism and tradition-bound attitudes of the regular bureaucracy. Regional planning offers two relatively successful experiences, Sudene and the strategy of the regionally oriented autarchy. Thus, planning history in Brazil is not entirely black but a certain shade of grey. The major part of the article, however, is devoted to a descriptive analysis of the national planning experience. The plans included in this analysis are: The Works and Equipment Plan (POE); The Health, Food, Transportation and Energy Plan (Salte); The Program of Goals; The Trienal Plan of Economic and Social Development; and the Plan of Governmental Economic Action (Paeg). Using these five plans for his historical experience the author sets out a series of errors of formulation and execution by which he analyzes that experience. With respect to formulation, he speaks of a lack of elaboration of programs and projects, of coordination among diverse goals, and of provision of qualified staff and techniques. He mentions the absence of the definition of resources necessary to the financing of the plan and the inadequate quantification of sectorial and national goals due to the lack of reliable statistical information. Finally, he notes the failure to coordinate the annual budget with the multi-year plans. He sees the problems of execution as beginning in the absence of coordination between the various sectors of the public administration, the failure to develop an operative system of decentralization, the absence of any system of financial and fiscal control over execution, the difficulties imposed by the system of public accounting, and the absence of an adequate program of allocation for the liberation of resources. He ends by pointing to the failure to develop and use an integrated system of political economic tools in a mode compatible with the objective of the plans. The body of the article analyzes national planning experience in Brazil using these lists of errors as rough model of criticism. Several conclusions emerge from this analysis with regard to planning in Brazil and in developing countries, in general. Plans have generally been of little avail in Brazil because of the lack of a continuous, bureaucratized (in the Weberian sense) planning organization set in an instrumentally suitable administrative structure and based on thorough diagnoses of socio-economic conditions and problems. Plans have become the justification for planning. Planning has come to be conceived as a rational method of orienting the process of decisions through the establishment of a precise and quantified relation between means and ends. But this conception has led to a planning history rimmed with frustration, and failure, because of its rigidity in the face of flexible and changing reality. Rather, he suggests a conception of planning which understands it "as a rational process of formulating decisions about the policy, economy, and society whose only demand is that of managing the instrumentarium in a harmonious and integrated form in order to reach explicit, but not quantified ends". He calls this "planning without plans": the establishment of broad-scale tendencies through diagnosis whose implementation is carried out through an adjustable, coherent instrumentarium of political-economic tools. Administration according to a plan of multiple, integrated goals is a sound procedure if the nation's administrative machinery contains the technical development needed to control the multiple variables linked to any situation of socio-economic change. Brazil does not possess this level of refinement and any strategy of planning relevant to its problems must recognize this. The reforms which have been attempted fail to make this recognition as is true of the conception of planning informing the Brazilian experience. Therefore, unworkable plans, ill-diagnosed with little or no supportive instrumentarium or flexibility have been Brazil's legacy. This legacy seems likely to continue until the conception of planning comes to live in the reality of Brazil.
Resumo:
São apresentadas as informações obtidas no inquérito triatomíneo levado a efeito na região nordeste do Brasil. As características biogeográficas incluem a presença de áreas semi-áridas da caatinga e amplas faixas transicionais com outras feições paisagísticas. Entre estas foram incluídas as da floresta tropical atlântica e as inclusões florestadas mais extensas. No período de 1975 a 1980 foram examinados 15.342 triotomíneos coletados no ambiente domiciliar, visando detectar as presenças de sangue ingerido e de infecção natural por Trypanosoma tipo cruzi. O conteúdo intestinal foi submetido a reações com antisoros para homem, cão, gato, roedor (Kattus), marsupial (Didelphis) e ave (Gallus). Por ordem de freqüência, as espécies encontradas foram Triatoma pseudomaculada (40,6%), Panstrongylus megistus (19,7%), Triatoma brasiliensis e T. sordida (ambos com 14,3%), Rhodnius nasutus (6,1%) e Triatoma infestans (1,1%); além de em algumas outras raras. A presença de sangue foi detectada em 42,4% e a infecção em 3,4% desse total de espécimens examinados. Observou-se elevada mobilidade alimentar, com coeficientes gerais de 54,8% para ave e 30,0% para homem. Em nível específico pôde determinar apreciável grau de antropofilia em P. megistus e, em menor intensidade, em T. brasiliensis. Por sua vez, T. infestans mostrou-se altamente antropófilo. Observou-se apreciável ornitofilia em T. pseudomaculata e T. sordida, com elevada intensidade em R. nasutus. Por outro lado, a presença de sangue humano em espécimens capturados no peridomicílio indicou a ocorrência de freqüente mobilidade espacial, com exceção de T. infestans que não mostrou evidências de abandonar o domicílio. A tendência à domiciliação, além desta, revelou-se apreciável em P. megistus, moderada em T. brasiliensi, T. pseudomaculata, T. sordida e praticamente nula em R. nasutus. A distribuição geográfica confirmou o caráter autóctone de T. brasiliensis, T. pseudomaculata e R. nasutus em relação à caatinga, e do P. megistus em relação às regiões florestais atlânticas e de inclusão. Este último revelou caráter invasivo no que concerne à caatinga, enquanto T. infestans e T. sordida mostraram o mesmo aspecto quanto à região nordeste como um todo. Os resultados permitem concluir que, na transmissão regional epidemiologicamente significante da tripanossomíase americana, desempenha papel relevante o P. megistus, em primeiro lugar, e o T. brasiliensis, em segundo. Dependendo de fatores vários, provavelmente da densidade, poderão atuar secundariamente nesse sentido o T. pseudomaculata e o T. sordida. Quanto à T. infestans, a sua presença, em número reduzido, representa, no momento, risco apenas potencial. O controle rotineiro, mediante a desinsetização domiciliar, deverá fornecer bons resultados no que concerne à interrupção da transmissão. Todavia a reinfestação, pelo menos do peridomicílio, deverá provavelmente continuar. E isso em virtude de focos extradomiciliares que fornecem espécimens com tendência à colonização no ambiente humano. É de se prever que ela se fará a custa do P. megistus nas áreas florestais atlânticas e de inclusão e de T. brasiliensis, T. pseudomaculata e R. nasutus nas áreas da caatinga. A vigilância epidemiológica deverá pois levar em conta esses aspectos e tender a aumentar sua eficiência pela continuidade das pesquisas.
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Whilst their 'death' has often been certified, books remain highly important to most professions and academic disciplines. Analyses of citations received by epidemiologic texts may complement other views on epidemiology. The objective was to assess the number of citations received by some books of epidemiology and public health, as a first step towards studying the influence of epidemiological thought and thinking in academia. For this purpose, Institute for Scientific Information/ Thomson Scientific - Web of Science/ Web of Knowledgedatabase was consulted, in May 2006. The book by Rothman & Greenland appeared to have received the highest number of citations overall (over 8,000) and per year. The books by Kleinbaum et al, and by Breslow & Day received around 5,000 citations. In terms of citations per year the book by Sackett et al ranks 3rd, and the one by Rose, 4th of those included in this preliminary study. Other books which were influential in the classrooms collected comparatively less citations. Results offer a rich picture of the academic influences and trends of epidemiologic methods and reasoning on public health, clinical medicine and the other health, life and social sciences. They may contribute to assess epidemiologists' efforts to demarcate epidemiology and to assert epistemic authority, and to analyze some historical influences of economic, social and political forces on epidemiological research.
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OBJECTIVE Assessment of prevalence of health promotion programs in primary health care units within Brazil’s health system. METHODS We conducted a cross-sectional descriptive study based on telephone interviews with managers of primary care units. Of a total 42,486 primary health care units listed in the Brazilian Unified Health System directory, 1,600 were randomly selected. Care units from all five Brazilian macroregions were selected proportionally to the number of units in each region. We examined whether any of the following five different types of health promotion programs was available: physical activity; smoking cessation; cessation of alcohol and illicit drug use; healthy eating; and healthy environment. Information was collected on the kinds of activities offered and the status of implementation of the Family Health Strategy at the units. RESULTS Most units (62.0%) reported having in place three health promotion programs or more and only 3.0% reported having none. Healthy environment (77.0%) and healthy eating (72.0%) programs were the most widely available; smoking and alcohol use cessation were reported in 54.0% and 42.0% of the units. Physical activity programs were offered in less than 40.0% of the units and their availability varied greatly nationwide, from 51.0% in the Southeast to as low as 21.0% in the North. The Family Health Strategy was implemented in most units (61.0%); however, they did not offer more health promotion programs than others did. CONCLUSIONS Our study showed that most primary care units have in place health promotion programs. Public policies are needed to strengthen primary care services and improve training of health providers to meet the goals of the agenda for health promotion in Brazil.
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OBJECTIVE To estimate the budget impact from the incorporation of positron emission tomography (PET) in mediastinal and distant staging of non-small cell lung cancer.METHODS The estimates were calculated by the epidemiological method for years 2014 to 2018. Nation-wide data were used about the incidence; data on distribution of the disease´s prevalence and on the technologies’ accuracy were from the literature; data regarding involved costs were taken from a micro-costing study and from Brazilian Unified Health System (SUS) database. Two strategies for using PET were analyzed: the offer to all newly-diagnosed patients, and the restricted offer to the ones who had negative results in previous computed tomography (CT) exams. Univariate and extreme scenarios sensitivity analyses were conducted to evaluate the influence from sources of uncertainties in the parameters used.RESULTS The incorporation of PET-CT in SUS would imply the need for additional resources of 158.1 BRL (98.2 USD) million for the restricted offer and 202.7 BRL (125.9 USD) million for the inclusive offer in five years, with a difference of 44.6 BRL (27.7 USD) million between the two offer strategies within that period. In absolute terms, the total budget impact from its incorporation in SUS, in five years, would be 555 BRL (345 USD) and 600 BRL (372.8 USD) million, respectively. The costs from the PET-CT procedure were the most influential parameter in the results. In the most optimistic scenario, the additional budget impact would be reduced to 86.9 BRL (54 USD) and 103.8 BRL (64.5 USD) million, considering PET-CT for negative CT and PET-CT for all, respectively.CONCLUSIONS The incorporation of PET in the clinical staging of non-small cell lung cancer seems to be financially feasible considering the high budget of the Brazilian Ministry of Health. The potential reduction in the number of unnecessary surgeries may cause the available resources to be more efficiently allocated.
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The Brazilian National Regulatory Agency for Private Health Insurance and Plans has recently published a technical note defining the criteria for the coverage of genetic testing to diagnose hereditary cancer. In this study we show the case of a patient with a breast lesion and an extensive history of cancer referred to a private service of genetic counseling. The patient met both criteria for hereditary breast and colorectal cancer syndrome screening. Her private insurance denied coverage for genetic testing because she lacks current or previous cancer diagnosis. After she appealed by lawsuit, the court was favorable and the test was performed using next-generation sequencing. A deletion of MLH1 exon 8 was found. We highlight the importance to offer genetic testing using multigene analysis for noncancer patients.
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The population dynamics and the prevalence of chagasic infection of 352 dogs living in 108 rural houses infested by triatomines were studied. The region was divided into three sections according to increasing distances to an urban area. Each animal was identified by means of its particular characteristics and built, and its owners gave information about its habits. By means of xenodiagnosis, serology and ECG studies, prevalences of infection, parasitological-serological correlation, percentage of altered electrocardiographic outlines and percentage of houses with parasitemic dogs, were determined. The rural area showed a characteristic T. cruzi infection pattern and differences in the canine population parameters with respect to the other areas were observed: a higher proportion of puppies than adult dogs, a more sedentary population, higher prevalences of infection, as measured by xenodiagnosis, in dogs, and the highest proportion of bedroom insects infected with T. cruzi. It is assumed that the sedentary characteristics of the human population in that rural area impinge in the blood offer to the triatomine population, and the high percentage of parasitemic dogs of the area, contribute to the rise of "kissing ougs" infected with T. cruzi found in bedrooms.
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The lethal effect of a bait containing an aqueous hexachlorocyclohexane (HCH) suspension at the concentration of 1g/l and maintained at room temperature was studied in the laboratory over a period of 12 weeks. The suspension was placed in a latex bag hanging inside a 1000-ml beaker tightly covered with nylon netting, and left there with no changes for 85 days. Sixteen groups of R. prolixas bugs, consisting on average of 30 specimens each, were successively exposed to the bait and observed at different intervals for one week each. The mortality rate was 100% for all groups, except for the 16th, whose mortality rate was 96.7%. As the groups succeeded one another, mortality started to occur more rapidly and was more marked at the 6- and 24-h intervals. Later tests respectively started at 6:00 a.m. and 6:00 p.m. showed that diurnal and nocturnal periodicity in the offer of food had no effect on mortality. First- and 2nd- instar nymphs and adults male were more sensitive and 5th- instar nymphs were more resistant to the active principle of the bait.
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Human cryptosporidiosis is an infection caused by Cryptosporidium spp, a coccidial protozoan of emergencial pathogenicity and responsible for severe and prostrating watery diarrhea, mainly in immunocompromised patients. Smears of stools submitted to concentration and staining by carbol fuchsin technique has been used in our laboratory as a diagnostic procedure for cryptosporidiosis. The long time observing the smears in the microscope due to the small size of the forms and the low contrast of the staining led us to introduce some modifications in the original protocol for the acid-fast staining. The smears were treated with the carbol fuchsin solution for 3 minutes as recommended by LENNETTE et al., 1985 and the solution of the ethyl alcohol 70%-chloride acid 0.5% was used instead of the ethyl alcohol-sulfuric acid 5% recommended by HENRIKSEN & POHLENZ, 1981. Smears were treated with the discoloration solution for 2 minutes. These modifications promoted a better washing out of the excess of carbol fuchsin therefore increasing the dye efficiency. In such conditions, the visualization of protozoan oocysts on the slides examined became easier. They were observed by the contrast of their intense pink-reddish pigmentation against the blue background. It's worthwhile to emphasize that these modifications offer advantages when time and accuracy are concerned.