“DESEMPENHO DE ÍNDICES SOCIALMENTE RESPONSÁVEIS”

Nos últimos anos os investimentos socialmente responsáveis têm tido um crescimento significativo a nível mundial. Neste âmbito, este estudo pretende analisar se o investimento em índices socialmente responsáveis tem um desempenho superior, inferior ou igual aos índices convencionais. Neste estudo é analisado o desempenho de 13 índices de acções sustentáveis, a nível internacional, durante o período de 01 de Janeiro de 2002 a 31 de Dezembro de 2008, com base nas medidas tradicionais de desempenho de Treynor (1965), Sharpe (1966) e Jensen (1968) e nos modelos multi-factores de Fama e French de três factores (1993) e Carhart de quatro factores (1997). Os resultados obtidos sugerem que os investimentos em índices socialmente responsáveis não tiveram um desempenho inferior nem superior aos seus pares convencionais. Foi ainda verificado que muitos índices sustentáveis apresentaram um nível de risco superior aos dos seus benchmarks.

Informatics competencies essential to decision making in nursing management

Abstract OBJECTIVE To identify informatics abilities essential to decision making in nursing management. METHOD Survey study with specialist nurses in health informatics and management. An electronic questionnaire was built based on the competencies Information Literacy (five categories; 40 abilities) and Information Management (nine categories; 69 abilities) of the TIGER - Technology Informatics Guiding Education Reform - initiative, with the guiding question: Which informatics abilities are essential to decision making in management? Answers were sorted in a Likert scale, ranging from 1 to 5. Rasch analysis was conducted with the software WINSTEPS ®. Results were presented in logits, with cutoff value zero. RESULTS Thirty-two specialists participated, coming from all regions of Brazil. In the information literacy competency, 18 abilities were considered essential and in Information Management, 38; these were sorted according to their degree of essentiality. CONCLUSION It is believed that the incorporation of these abilities in teaching can support the education of nurse managers and contribute to evidence-based practice, incorporation of information and communication technologies in health and information management.

Sistemática, filogenia e distribuição geográfica das espécies sul-americanas de Centris (Paracentris) Cameron, 1903 e de Centris (Penthemisia) Moure, 1950, incluindo uma análise filogenética do "grupo Centris" sensu Ayala, 1998 (Hymenoptera, Apoidea, Centridini)

Systematics, phylogeny and geographical distribution of the South American species of Centris (Paracentris) Cameron, 1903, and Centris (Penthemisia) Moure, 1950, including a phylogenetic analysis of the "Centris group" sensu Ayala, 1998 (Hymenoptera, Apoidea, Centridini). A cladistic analysis with the objective of testing the hypothesis of monophily of Centris (Paracentris) Cameron, 1903, and of studying its phylogenetic relationships with the other subgenera that belong to the Centris group, sensu Ayala, 1998, and the relationships among the species that occur in South America, is presented. Centris (Paracentris) is a group of New World bees of amphitropical distribution, especially diversified in the Andes and in the xeric areas of South and North America. Thirty-one species were included in the analysis, four considered as outgroup, and 49 characters, all from external morphology and genitalia of adult specimens. Parsimony analyses with equal weights for the characters and successive weighting were performed with the programs NONA and PAUP, and analyses of implied weighting with the program PeeWee. The strict consensus among the trees obtained in all the analyses indicates that C. (Paracentris), as previously recognized, is a paraphyletic group. In order to eliminate that condition, the subgenera C. (Acritocentris), C. (Exallocentris) and C. (Xerocentris), all described by SNELLING (1974) are synonymized under C. (Paracentris). The subgenus C. (Penthemisia) Moure, 1950, previously considered a synonym of C. (Paracentris), is reinstated, but in a more restricted sense than originally proposed and with the following species: Centris brethesi Schrottky, 1902; C. buchholzi Herbst, 1918; C. chilensis (Spinola, 1851), C. mixta mixta Friese, 1904, and C. mixta tamarugalis Toro & Chiappa, 1989. Centris mixta, previously recognized as the only South American species of the subgenus C. (Xerocentris), a group supposedly amphitropical, came out as the sister-species of C. buchholzi. The following South American species were recognized under Centris (Paracentris): Centris burgdorfi Friese, 1901; C. caelebs Friese, 1900; C. cordillerana Roig-Alsina, 2000; C. euphenax Cockerell, 1913; C. flavohirta Friese, 1900; C. garleppi (Schrottky, 1913); C. klugii Friese, 1900; C. lyngbyei Jensen-Haarup, 1908; C. mourei Roig-Alsina, 2000; C. neffi Moure, 2000; C. nigerrima (Spinola, 1851); C. toroi sp. nov.; C. tricolor Friese, 1900; C. unifasciata (Schrottky, 1913), and C. vogeli Roig-Alsina, 2000. The relationships among the subgenera of the "Centris group" were: (Xanthemisia (Penthemisia (Centris s. str. - Paracentris))). Centris xanthomelaena Moure & Castro 2001, an endemic species of the Caatinga and previously considered a C. (Paracentris), came out as the sister group of C. (Centris) s. str. A new species of C. (Paracentris) from Chile is described: Centris toroi sp. nov. Lectotypus designations and redescriptions are presented for Centris burgdorfi, C. caelebs, C. lyngbyei, C. tricolor, C. autrani Vachal, 1904 and C. smithii Friese, 1900. New synonyms proposed: C. buchholzi Herbst, 1918 = Centris wilmattae Cockerell, 1926 syn. nov.; C. caelebs Friese, 1900 = Paracentris fulvohirta Cameron, 1903. The female of C. vogeli Roig-Alsina, 2000 and the male of C. xanthomelaena are described.

A unifying approach to the empirical evaluation of asset pricing models

Two main approaches are commonly used to empirically evaluate linear factor pricingmodels: regression and SDF methods, with centred and uncentred versions of the latter.We show that unlike standard two-step or iterated GMM procedures, single-step estimatorssuch as continuously updated GMM yield numerically identical values for prices of risk,pricing errors, Jensen s alphas and overidentifying restrictions tests irrespective of the modelvalidity. Therefore, there is arguably a single approach regardless of the factors being tradedor not, or the use of excess or gross returns. We illustrate our results by revisiting Lustigand Verdelhan s (2007) empirical analysis of currency returns.

Capacidades de Timing e Selectividade dos Gestores de Fundos de Investimento Mobiliário: Evidência Empírica para o Caso Português

Com esta investigação propomos analisar o desempenho de uma amostra de fundos de investimento mobiliário portugueses, durante o período Janeiro de 2002 a Dezembro de 2009, utilizando a medida de Jensen (1968) e a metodologia de timing proposta por Henriksson e Merton (1981). Os resultados obtidos pela medida de Jensen sugerem que, no geral, os fundos têm desempenhos inferiores ao mercado na ordem dos 0,34% ao ano. Contudo este valor não é estatisticamente significante. Os fundos internacionais conseguem “bater” o mercado, enquanto os fundos nacionais e fundos da União Europeia têm desempenhos inferiores. Tendo por base a medida de Henriksson e Merton (1981), verificamos que os gestores possuem poucas capacidades de selectividade (0,42% ao ano) e falham nas suas previsões quanto à evolução do mercado – timing. Enquanto os gestores internacionais parecem evidenciar melhores capacidades de selectividade, os gestores nacionais registam melhores capacidades de timing. Os resultados sugerem igualmente que existe uma acentuada correlação negativa entre ambas as componentes do desempenho e uma distance effect na componente timing. Os testes realizados através de metodologias não condicionais e condicionais confirmam a robustez dos resultados iniciais em relação à especificação do modelo. No entanto, sugerem que, em média, a introdução de factores de risco adicionais e sua posterior combinação com informação condicional em pouco afecta as estimativas de timing, mas melhora os coeficientes de determinação e as estimativas de selectividade, sendo, em média, os alfas condicionais maiores que os alfas não condicionais.

Understanding portfolio efficiency with conditioning information

We show that unconditionally efficient returns do not achieve the maximum unconditionalSharpe ratio, neither display zero unconditional Jensen s alphas, when returns arepredictable. Next, we define a new type of efficient returns that is characterized by thoseunconditional properties. We also study a different type of efficient returns that is rationalizedby standard mean-variance preferences and motivates new Sharpe ratios and Jensen salphas. We revisit the testable implications of asset pricing models from the perspective ofthe three sets of efficient returns. We also revisit the empirical evidence on the conditionalvariants of the CAPM and the Fama-French model from a portfolio perspective.

The evolution of conventions under incomplete information

We formulate an evolutionary learning process in the spirit ofYoung (1993a) for games of incomplete information. The process involves trembles. For many games, if the amount of trembling is small, play will be in accordance with the games' (semi-strict) Bayesian equilibria most of the time. This supports the notion of Bayesian equilibrium. Further, often play will most of the time be in accordance with exactly one Bayesian equilibrium. This gives a selection among the Bayesian equilibria. For two specific games of economic interest wecharacterize this selection. The first is an extension to incomplete information of the prototype strategic conflict known as Chicken. The second is an incomplete information bilateral monopoly, which is also an extension to incompleteinformation of Nash's demand game, or a simple version ofthe so-called sealed bid double auction. For both gamesselection by evolutionary learning is in favor of Bayesianequilibria where some types of players fail to coordinate, such that the outcome is inefficient.

ESCMID* guideline for the diagnosis and management of Candida diseases 2012: diagnostic procedures.

As the mortality associated with invasive Candida infections remains high, it is important to make optimal use of available diagnostic tools to initiate antifungal therapy as early as possible and to select the most appropriate antifungal drug. A panel of experts of the European Fungal Infection Study Group (EFISG) of the European Society of Clinical Microbiology and Infectious Diseases (ESCMID) undertook a data review and compiled guidelines for the clinical utility and accuracy of different diagnostic tests and procedures for detection of Candida infections. Recommendations about the microbiological investigation and detection of candidaemia, invasive candidiasis, chronic disseminated candidiasis, and oropharyngeal, oesophageal, and vaginal candidiasis were included. In addition, remarks about antifungal susceptibility testing and therapeutic drug monitoring were made.

Review of Thoreyella Spinola with the description of two new species from Brazil (Heteroptera, Pentatomidae)

Review of Thoreyella Spinola with the description of two new species from Brazil (Heteroptera, Pentatomidae). Thoreyella Spinola is revised, with detailed descriptions of the four known species (T. brasiliensis Spinola, 1850, T. trinotata Berg, 1878, T. cornuta Berg, 1883 and, T. taurus Jensen-Haarup, 1931), and two new species from Brazil: T. maracaja sp. nov. (Minas Gerais, Santa Catarina, and Rio Grande do Sul states) and T. paraiba sp. nov. (Paraíba State). New geographical country and state/ province records are as follows: T. cornuta from Rio Grande do Sul; T. brasiliensis from Mato Grosso, Espírito Santo, Catamarca, and Córdoba; and T. trinotata from Brazil (Rio Grande do Sul). A key to all species is given.

On the structural difference between the evolutionary approach of Young and that of Kandori, Mailath and Rob

We provide robust examples of symmetric two-player coordination games in normal form that reveal that equilibrium selection bythe evolutionary model of Young (1993) is essentially different from equilibrium selection by the evolutionary model of Kandori, Mailath and Rob (1993).

CAPACIDADES DE TIMING E SELECTIVIDADE DOS GESTORES DE FUNDOS DE INVESTIMENTO MOBILIÁRIO: EVIDÊNCIA EMPÍRICA PARA O CASO PORTUGUÊS

Com esta investigação propomos analisar o desempenho de uma amostra de fundos de investimento mobiliário portugueses, entre Janeiro de 2002 e Dezembro de 2009, mediante a aplicação da medida de Jensen (1968) e da metodologia de timing proposta por Henriksson e Merton (1981). Os resultados obtidos pela medida de Jensen sugerem que no geral os fundos têm desempenhos inferiores ao mercado, na ordem dos 0,34% ao ano. Contudo este valor não é estatisticamente significativo. Os fundos internacionais conseguem “bater” o mercado enquanto os fundos nacionais e fundos da União Europeia têm desempenhos inferiores. Tendo por base a medida de Henriksson e Merton (1981), verificamos que os gestores possuem poucas capacidades de selectividade (0,42% ao ano) e falham nas suas previsões quanto à evolução do mercado – timing. Enquanto os gestores internacionais parecem evidenciar melhores capacidades de selectividade, os gestores nacionais registam melhores capacidades de timing. Os resultados sugerem igualmente a existência de uma acentuada correlação negativa entre ambas as componentes do desempenho e uma distance effect na componente timing. Os testes realizados através de metodologias não condicionais e condicionais confirmam a robustez dos resultados iniciais em relação à especificação do modelo de Henriksson e Merton (1981). No entanto, sugerem que em média a introdução de factores de risco adicionais e sua posterior combinação com informação condicional em pouco afectam as estimativas de timing, mas melhoram os coeficientes de determinação e as estimativas de selectividade, sendo em média os alfas condicionais maiores que os alfas não condicionais.

Microscopic and macroscopic polarization within a combined quantum mechanics and molecular mechanics model

A polarizable quantum mechanics and molecular mechanics model has been extended to account for the difference between the macroscopic electric field and the actual electric field felt by the solute molecule. This enables the calculation of effective microscopic properties which can be related to macroscopic susceptibilities directly comparable with experimental results. By seperating the discrete local field into two distinct contribution we define two different microscopic properties, the so-called solute and effective properties. The solute properties account for the pure solvent effects, i.e., effects even when the macroscopic electric field is zero, and the effective properties account for both the pure solvent effects and the effect from the induced dipoles in the solvent due to the macroscopic electric field. We present results for the linear and nonlinear polarizabilities of water and acetonitrile both in the gas phase and in the liquid phase. For all the properties we find that the pure solvent effect increases the properties whereas the induced electric field decreases the properties. Furthermore, we present results for the refractive index, third-harmonic generation (THG), and electric field induced second-harmonic generation (EFISH) for liquid water and acetonitrile. We find in general good agreement between the calculated and experimental results for the refractive index and the THG susceptibility. For the EFISH susceptibility, however, the difference between experiment and theory is larger since the orientational effect arising from the static electric field is not accurately described

Multivalent display of the antimicrobial peptides BP100 and BP143

Carbohydrates are considered as promising templates for the display of multiple copies of antimicrobial peptides. Herein, wedescribe the design and synthesis of chimeric structures containing two or four copies of the antimicrobial peptidesKKLFKKILKYL-NH2 (BP100) and KKLfKKILKYL-NH2 (BP143) attached to the carbohydrate template cyclodithioerythritol(cDTE) or α-D-galactopyranoside (Galp). The synthesis involved the preparation of the corresponding peptide aldehyde followedby coupling to an aminooxy-functionalized carbohydrate template. After purification, the multivalent display systems were obtainedin high purities (90–98%) and in good yields (42–64%). These compounds were tested against plant and human pathogenic bacteriaand screened for their cytotoxicity on eukaryotic cells. They showed lower MIC values than the parent peptides against the bacteriaanalyzed. In particular, the carbopeptides derived from cDTE and Galp, which contained two or four copies of BP100, respectively,were 2- to 8-fold more active than the monomeric peptide against the phytopathogenic bacteria. These results suggest thatpreassembling antimicrobial peptides to multimeric structures is not always associated with a significant improvement of theactivity. In contrast, the carbopeptides synthesized were active against human red blood cells pointing out that peptide preassemblyis critical for the hemolytic activity. Notably, peptide preassembly resulted in an enhanced bactericidal effect

Genome-wide association analysis of blood-pressure traits in African-ancestry individuals reveals common associated genes in African and non-African populations.

High blood pressure (BP) is more prevalent and contributes to more severe manifestations of cardiovascular disease (CVD) in African Americans than in any other United States ethnic group. Several small African-ancestry (AA) BP genome-wide association studies (GWASs) have been published, but their findings have failed to replicate to date. We report on a large AA BP GWAS meta-analysis that includes 29,378 individuals from 19 discovery cohorts and subsequent replication in additional samples of AA (n = 10,386), European ancestry (EA) (n = 69,395), and East Asian ancestry (n = 19,601). Five loci (EVX1-HOXA, ULK4, RSPO3, PLEKHG1, and SOX6) reached genome-wide significance (p < 1.0 × 10(-8)) for either systolic or diastolic BP in a transethnic meta-analysis after correction for multiple testing. Three of these BP loci (EVX1-HOXA, RSPO3, and PLEKHG1) lack previous associations with BP. We also identified one independent signal in a known BP locus (SOX6) and provide evidence for fine mapping in four additional validated BP loci. We also demonstrate that validated EA BP GWAS loci, considered jointly, show significant effects in AA samples. Consequently, these findings suggest that BP loci might have universal effects across studied populations, demonstrating that multiethnic samples are an essential component in identifying, fine mapping, and understanding their trait variability.

Genetic loci for retinal arteriolar microcirculation.

Narrow arterioles in the retina have been shown to predict hypertension as well as other vascular diseases, likely through an increase in the peripheral resistance of the microcirculatory flow. In this study, we performed a genome-wide association study in 18,722 unrelated individuals of European ancestry from the Cohorts for Heart and Aging Research in Genomic Epidemiology consortium and the Blue Mountain Eye Study, to identify genetic determinants associated with variations in retinal arteriolar caliber. Retinal vascular calibers were measured on digitized retinal photographs using a standardized protocol. One variant (rs2194025 on chromosome 5q14 near the myocyte enhancer factor 2C MEF2C gene) was associated with retinal arteriolar caliber in the meta-analysis of the discovery cohorts at genome-wide significance of P-value <5×10(-8). This variant was replicated in an additional 3,939 individuals of European ancestry from the Australian Twins Study and Multi-Ethnic Study of Atherosclerosis (rs2194025, P-value = 2.11×10(-12) in combined meta-analysis of discovery and replication cohorts). In independent studies of modest sample sizes, no significant association was found between this variant and clinical outcomes including coronary artery disease, stroke, myocardial infarction or hypertension. In conclusion, we found one novel loci which underlie genetic variation in microvasculature which may be relevant to vascular disease. The relevance of these findings to clinical outcomes remains to be determined.