921 resultados para Brazilian Bankruptcy and Reorganization Law
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This paper investigates the impact of price limits on the Brazilian futures markets using high frequency data. The aim is to identify whether there is a cool-off or a magnet effect. For that purpose, we examine a tick-by-tick data set that includes all contracts on the S˜ao Paulo stock index futures traded on the Brazilian Mercantile and Futures Exchange from January 1997 to December 1999. The results indicate that the conditional mean features a floor cool-off effect, whereas the conditional variance significantly increases as the price approaches the upper limit. We then build a trading strategy that accounts for the cool-off effect in the conditional mean so as to demonstrate that the latter has not only statistical, but also economic significance. The in-sample Sharpe ratio indeed is way superior to the buy-and-hold benchmarks we consider, whereas out-of-sample results evince similar performances.
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The relationship between Islamic Law and other legal systems (basically western type domestic legal orders and international law) is often thought of in terms of compatibility or incompatibility. Concerning certain subject matters of choice, the compatibility of Islamic (legal) principles with the values embedded in legal systems that are regarded as characteristic of the Modern Age is tested by sets of questions: is democracy possible in Islam? Does Islam recognize human rights and are those rights equivalent to a more universal conception? Does Islam recognize or condone more extreme acts of violence and does it justify violence differently? Etc. Such questions and many more presuppose the existence of an ensemble of rules or principles which, as any other set of rules and principles, purport to regulate social behavior. This ensemble is generically referred to as Islamic Law. However, one set of questions is usually left unanswered: is Islamic Law a legal system? If it is a legal system, what are its specific characteristics? How does it work? Where does it apply? It is this paper`s argument that the relationship between Islamic Law and domestic and international law can only be understood if looked upon as a relationship between distinct legal systems or legal orders.
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Nas últimas décadas o setor de logística passou por grandes transformações pelo mundo. Assim, a eficiência do sistema logístico é importante para o crescimento econômico, a diversificação, redução dos custos operacionais e da pobreza. Segundo o Banco Mundial, o Brasil tornou-se uma das maiores economias do mundo, mas os custos logísticos elevados colocam em risco esse crescimento. Estes custos são em grande parte o resultado de diferenças em infraestrutura de cada região, juntamente com os encargos do setor rodoviário, que corresponde por 60% do total do transporte de carga do país. Entretanto, a logística brasileira está às portas de uma nova revolução, em práticas de negócios e eficiência, e também na qualidade e disponibilidade da infraestrutura de transportes e comunicações, e novos projetos e práticas para superar a situação. O objetivo deste estudo não é analisar o presente e as atuais tendências de logística do Brasil e do setor de transporte, mas sim modelar possíveis cenários futuros para os próximos anos. Em outras palavras, este trabalho mostra diferentes possibilidades de como o setor de logística e transporte poderá ser no futuro. Para isso, este trabalho irá utilizar a metodologia de cenários prospectivos e entrevistas com especialistas relacionados da área.
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In assessing the economic impact of a sector or group of sectors on a single or multiregional economy, input-output analysis has proven to be a popular method. . However, there has a problem in displaying all the information that can be obtained from this analytical approach. In this paper, we have tried to set new directions in the use of input-output analysis by presenting an improved way of looking at the economic landscapes. While this is not a new concept, a new meaning is explored in this paper; essentially, it will now be possible to visualize, in a simple picture, all the relations in the economy as well as being able to view how one sector is related to the other sectors/regions in the economy. These relations can be measured in terms of structural changes, production, value added, employment, imports, etc. While all the possibilities cannot be explored in this paper, the basic idea is given here and the smart reader can uncover all the various possibilities. To illustrate the power of analysis provided by the economic landscapes, an application is made to the sugar cane complex using an interregional inputoutput system for the Brazilian economy, constructed for 2 regions (Northeast and Rest of Brazil), for the years of 1985, 1992, and 1995.
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Fundação de Amparo à Pesquisa do Estado de São Paulo (FAPESP)
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Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)
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Fundação de Amparo à Pesquisa do Estado de São Paulo (FAPESP)
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This study aims to demonstrate that data from business games can be an important resource for improving efficiency and effectiveness of learning. The proposal presented here was developed from preliminary studies of data from Virtual Market games that pointed the possibility of identifying gaps in learning by analyzing the decisions of students. This proposal helps students to refine their learning processes and equips tutors with strategies for teaching and student assessment. The proposal also complements the group discussion and/or debriefing, which are widely used to enhance learning mediated by games. However, from a management perspective the model has the potential to be erroneous and miss opportunities, which cannot be detected because of the dependence on the characteristics of the individual, such as ability to communicate and work together. To illustrate the proposed technique, data sets from two business games were analyzed with the focus on managing working capital and it was found that students had difficulties managing this task. Similar trends were observed in all categories of students in the study-undergraduate, postgraduate and specialization. This discovery led us to the analysis of data for decisions made in the performance of the games, and it was determined that indicators could be developed that were capable of indentifying inconsistencies in the decisions. It was decided to apply some basic concepts of the finance management, such as management of the operational and non-operational expenditures, as well as production management concepts, such as the use of the production capacity. By analyzing the data from the Virtual Market games using the indicator concept, it was possible to detect the lack of domain knowledge of the students. Therefore, these indicators can be used to analyze the decisions of the players and guide them during the game, increasing their effectiveness and efficiency. As these indicators were developed from specific content, they can also be used to develop teaching materials to support learning. Viewed in this light, the proposal adds new possibilities for using business games in learning. In addition to the intrinsic learning that is achieved through playing the games, they also assist in driving the learning process. This study considers the applications and the methodology used.
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A leptospirose é uma antropozoonose mundialmente distribuída que infecta animais de produção, incluindo as ovelhas como carreadores para outros animais e o homem. O presente estudo objetivou determinar a prevalência de Leptospira spp. em ovinos de dois abatedouros do estado de São Paulo e sua associação com algumas variáveis epidemiológicas estudadas. Amostras de soro de 182 ovinos foram pesquisadas para a presença de anticorpos para Leptospira spp. pela soroaglutinação microscópica (SAM). Os resultados indicaram 34/182 (18,68%; IC95% 13,70-24,98%) amostras positivas, principalmente para o sorovar Copenhageni (17/34; 50%; IC95% 33,99-66,01%). Crescimento bacteriano no meio de Fletcher foi observado em amostras de 13/34 (38,24%; CI95% 23.87-55.08%) animais, e confirmados pela Reação em Cadeia pela Polimerase (PCR) e seqüenciamento para somente duas amostras renais de dois animais. Assim, o tratamento e vacinação dos ovinos, além do controle de roedores, pode ser útil na prevenção da infecção na região estudada, visto que os ovinos são importantes carreadores de Leptospira spp. para o homem, e sua transmissão aos trabalhadores de abatedouros ocorre principalmente pela manipulação das vísceras.
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The present study was performed to evaluate the microbiological characteristics of clinically health quarters submitted to milking and also to observe the distribution of contagious and environmental agents between brazilian dry and rainy seasons of the year. During nine months 734 quarters from 37 buffalo cows were submitted monthly to udder inspection, palpation and strip cup test before milking. 734 asseptic milk samples were inoculated in 10% ovine blood agar and in MacConkey agar media, then incubated for 72 hours at 37 C. Among the 580 isolated microrganisms, 182 (31,38%) were recovered from samples collected during the rainy season and 398 (68,62%) from the dry season. In the rainy period the most prevalent agents were: bacteria from the genus Corynebacterium sp (53,30%), Staphylococcus sp (19,78%) and Rhodococcus equi (13,74%). In the dry period, the commonest ones were: Corynebacterium sp (44,97%), Staphylococcus sp (18,84%) and Micrococcus sp (9,55%). The results demonstrated that the methods used to select health quarters in brazilian dairy buffalo farms allow the transmission of contagious bacteria during both seasons of the year, maintaining agents known to cause mainly subclinical inflammatory reactions that compromise cronically the physiology and production of the mammary gland.
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The genus Styrax L. (Styracaceae) has a wide distribution in Brazil, occurring in diverse ecosystems. To get a better insight into the ecological adaptations of wood structure, we studied two species, S. camporum and S.ferrugineus from the cerrado, and three species, S. latifolium, S. martii and S. leprosus from the Atlantic forest. For each species, the wood of root and stem was analyzed separately and observations included qualitative as well as quantitative wood characteristics. The results show that there were significant anatomical differences between the forest and cerrado species as well as between the root and stem wood within single species. Quantitatively, the most informative features in the root wood that separated the forest from the cerrado, species were diameter, length and number of vessels, length of fibres, and width and frequency of rays. In the stem wood, length and frequency of vessels, length of fibres, and width and frequency of rays were the most informative features. In contrast to the forest species, which had larger vessel diameters in their stem wood, the cerrado species had larger vessel diameters in their root wood. The calculated vulnerability index indicates that all Sryrax species have adaptations to mesic conditions. The cerrado species had the smallest index values, which could be related to the seasonally dry condition of this environment.
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Propolis is a natural resinous substance collected by bees from vegetal sources and its therapeutic properties have been investigated. In this work, we evaluated the inhibitory activity of ethanolic extracts of propolis (EEP) from the Southeast and South of Brazil on coagulase-negative Staphylococcus (CNS) growth as well as the EEP in vitro synergism with antimicrobial drugs by using the diffusion method (E-test). The EEP chemical characteristics (dry weight, pH, flavonoid and phenolic compounds) were determined. Seven drugs were tested, and synergism was observed between three drugs and Southeast EEP, six drugs and South EEP, and one drug and ethanol control. Ethanolic extracts of propolis from the South of Brazil presented the greatest flavonoid content and synergism rate, while EEP from the Southeast presented the greatest anti-CNS activity and phenolic compound content. Results showed the correlation among anti-CNS activity, synergism rate and chemical characteristics of propolis.