The equity premium puzzle: um estudo de viés de seleção dos ativos

As empresas de capital aberto, listadas em bolsa de valores, são naturalmente aquelas que vieram apresentando retornos superiores perante às demais empresas do seu setor. Assim, será que o viés de seleção desses ativos in uencia sigini cativamente no resultado do Equity Premium Puzzle, primordialmente lançado por Mehra and Prescott (1985)? É essa pergunta que este trabalho investiga e conclui que, sim, de fato pode haver uma in uência desse viés em explicar o Puzzle . Para isso, iremos gerar uma economia cujos ativos, por hipótese, sejam preci cados de acordo com o fator estocástico de desconto (SDF) baseado em consumo, ou seja, os modelos conhecidos como CCAPM (Consumption Capital Asset Pricing Model). Assim, essa economia será gerada via simulação de Monte Carlo, de forma que iremos construir um índice benchmark dessa economia, nos quais participariam apenas os ativos que foram historicamente mais rentáveis. Adota-se tal metodologia em paralelo à forma como os reais benchmarks são construidos (S&P 500, Nasdaq, Ibovespa), em que neles participam, basicamente, as empresas de capital aberta mais negociadas em Bolsa de Valores, que são, comumente, as empresas historicamente mais rentáveis da economia. Em sequência, iremos realizar a estimação via GMM (Generalized Method of Moments) de um dos parâmetros de interesse de uma economia CCAPM: o coe ciente de aversão relativa ao risco (CRRA). Finalmente, os resultados obtidos são comparados e analisados quanto ao viés de estimação.

Seleção de leveduras

Disciplina Monitoramento e Controle Microbiológico em Usinas. Unidade 7

A seleção de conteúdos: o professor e sua autonomia na construção do currículo

O item não apresenta o texto completo, para aquisição do livro na íntegra você poderá acessar a Editora da UFSCar por meio do link: www.editora.ufscar.br

Seleção e formação de coleções de obras raras: da ordenação do saber á prática cultural

MEDEIROS, Ana Luiza. Seleção e formação de coleções de obras raras: da ordenação do saber à pratica cultural. In: CONGRESSO BRASILEIRO DE BIBLIOTECONOMIA, DOCUMENTAÇÃO E CIÊNCIA DA INFORMAÇÃO, 24., Maceió, 2011. Anais... Maceió: FEBAB, 2011.

Estudo da influência da temperatura de brasagem nas uniões zircônia/aço inox 304 utilizando metalização mecânica

Metal-Ceramic (M/C) Zirconia-stainless steel interfaces have been processed through brazing techniques due to the excellent combination of properties such as high temperature stability, high corrosion resistance and good mechanical properties. However, some M/C interfaces show some defects, like porosity and cracks results in the degradation of the interfaces, leading even to its total rupture. Most of time, those defects are associated with an improper brazing parameters selection to the M/C system. In this work, ZrO2 Y-TZP and ZrO2 Mg - PSZ were joint with the stainless steel grade 304 by brazing using a eutectic silver-copper (Ag28Cu) interlayer alloy with different thermal cycles. Ceramic surfaces were previous mechanically metallized with titanium to improve adhesion of the system. The effect of temperature on the M/C interface was studied. SEM-EDS and 3 point flexural bend test were performed to evaluate morphology, chemical composition and mechanical resistance of the M/C interfaces. Lower thermal cycle temperatures produced better results of mechanical resistance, and more regular/ homogeneous reaction layers between braze alloy and metal-ceramic surfaces. Also was proved the AgCu braze alloy activation in situ by titanium

Voleibol brasileiro : parâmetros fenotípicos e genotípicos na seleção de atletas

Objective: Identify phenotype and genotype parameters of female volleyball players at different performance levels to help in player selection. Methods: We identified characteristics of phenotype and genotype using the somatotype method (Heath Carter); anthropometry (weight, height and fat percentage); dermatoglyphics (Cummins and Midlo s method) as well as applying physical quality tests (Shuttle Run to assess agility and the Sargent Jump Test adapted for spike and block reach). The sample was composed of 179 players (54 from national teams and 125 from state teams). Results: Somatotype was similar among the performance levels in the mesomorphic component. The Height and ectomorphic component were greater in national team players as was spike and block reach. The vertical jump height for the spike was similar between the national under-17 team and the state teams observed, but in the block jump the lower level players were better. The dermatoglyphics characteristics identified were similar among the groups studied. Conclusions: The results of the variables studied show that somatotype, height, spike reach and block reach are fundamental parameters in player selection and in the specific characteristics of each game position of this sport. This paper proposes a multidisciplinary approach applicable in the fields of physical education, medicine and nutrition

Seleção de categorias da Classificação Internacional de Funcionalidade, Incapacidade e Saúde para avaliação do paciente com acidente vascular cerebral em reabilitação

Stroke represents the first cause of disabilities among adults. Although different professions work together in treatment of stroke patients, all they use different terminologies for the description of the patients problems and it can constitute an impediment in the communication between the staff members. Thus, the multidisciplinary and interdisciplinary work would be facilitated if using a reference common tool, as the new International Classification of Functioning, Disability and Health (ICF). However, the ICF is very extensive and complex and due to its complexity, it has been evidenced the necessity to select its categories to become it more practical. The aim of the study was to investigate which categories of the ICF are more suitable to evaluate and to describe the stroke patient in the view of teachers and municipal public health professionals. It was a descriptive research, which involved 5 professors and 11 professionals of Physiotherapy that have worked at the health public area in Natal / RN. It was used the Delphi Technique in 3 rounds and the Likert Scale to select the categories among the ICF components. As result, from the 362 IFC categories, 94 were selected. The selected categories correspond to rehabilitative characteristics of Stroke patients in the universe of the Physiotherapy performance. The methodology applied was suitable to the studied object emphasizing the necessity of future studies for validation of the chosen categories