The value of local partners in Brazil: the effects of ownership clusters and business group membership on firm value in emerging markets

Este estudo analisa como a classe de acionistas afeta o valor das empresas brasileiras listadas na bolsa de valores no ponto de vista da governança corporativa. O trabalho examina a interação entre o valor das empresas e cinco tipos de concentrações acionárias comumente presente em mercados emergentes: famílias, agentes públicos, investidores estrangeiros, executivos e investidores financeiros nacionais. A análise empírica demonstra que o mix e a concentração de participação acionária afeta significativamente o valor das empresas. Utilizando uma compilação única de dados em painel de 2004 a 2008, a presente pesquisa também desenvolve hipóteses sobre o efeito da participação em grupos econômicos para o valor das empresas. A investigação encontra evidências de que, apesar de sua importância para o desenvolvimento de empresas brasileiras, o capital familiar, instituições públicas, e investidores estrangeiros estão cedendo lugar a monitores mais especializados e menos concentrados, como executivos e instituições financeiras nacionais. Estes resultados indicam que a governança corporativa no Brasil pode estar alcançando níveis de maturidade mais elevados. Adicionalmente, apesar de não haver indicação da existência de correlação entre a participação em grupos econômicos e o valor das empresas, os resultados indicam que a presença de um tipo específico de acionista em uma empresa do grupo facilita investimentos futuros desta classe de acionista em outras empresas do mesmo grupo, sinalizando que os interesses acionários são provavelmente perpetuados dentro de uma mesma rede de empresas. Finalmente, a pesquisa demonstra que enquanto o capital familiar prefere investir em empresas com ativa mobilidade do capital, investidores internacionais e instituições públicas procuram investimentos em equity com menor mobilidade de capital, o que lhes garante mais transparência com relação ao uso dos recursos e fundos das empresas.

Open innovation and the challenges of human resource management

This paper considers challenges of Human Resource Management (HRM) in Open Innovation processes. It examines which strategies managers used to overcome these problems in the case of the Brazilian Oil and Gas company Petrobras. By conducting an inductive case study it develops a contextual model based on the use of grounded theory. It argues that the most important categories were to overcome problems of (a) the interpersonal relationship, (b) power shifting inside the organization, and (c) making people more valuable to the organization and shows how managers tackled these challenges. It contributes with a deep analysis of HRM challenges in Open Innovation that is important for a better understanding of management problems that can come along with Open Innovation processes.

Physical fitness and associations with anthropometric measurements in 7 to 15-year-old school children

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Leisure time behaviors: Prevalence, correlates and associations with overweight in Brazilian adults. A cross-sectional analysis

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Entropy of bosonic open string and boundary conditions

The entropy of the states associated to the solutions of the equations of motion of the bosonic open string with combinations of Neumann and Dirichlet boundary conditions is given. Also, the entropy of the string in the states \A(i)] = alpha(-1)(i)\0] and \phi(a)]= alpha(-1)(a)\0] that describe the massless fields on the world-volume of the Dp-brane is computed. (C) 2002 Elsevier B.V. B.V. All rights reserved.

Relativistic Archimedes law for fast moving bodies and the general-relativistic resolution of the submarine paradox

We investigate and solve in the context of general relativity the apparent paradox which appears when bodies floating in a background fluid are set in relativistic motion. Suppose some macroscopic body, say, a submarine designed to lie just in equilibrium when it rests (totally) immersed in a certain background fluid. The puzzle arises when different observers are asked to describe what is expected to happen when the submarine is given some high velocity parallel to the direction of the fluid surface. on the one hand, according to observers at rest with the fluid, the submarine would contract and, thus, sink as a consequence of the density increase. on the other hand, mariners at rest with the submarine using an analogous reasoning for the fluid elements would reach the opposite conclusion. The general relativistic extension of the Archimedes law for moving bodies shows that the submarine sinks. As an extra bonus, this problem suggests a new gedankenexperiment for the generalized second law of thermodynamics.

Gravitational deflection of massive particles in classical and semiclassical general relativity

We calculate the gravitational deflection of massive particles moving with relativistic velocity in the solar system to second post-Newtonian order. For a particle passing close to the Sun with impact parameter b, the deflection in classical general relativity is Phi(C)[GRAPHICS]where v(0) is the particle speed at infinity and M is the Sun's mass. We compute afterwards the gravitational deflection of a spinless neutral particle of mass m in the same static gravitational field as above, treated now as an external field. For a scalar boson with energy E, the deflection in semiclassical general relativity (SGR) is Phisc[GRAPHICS]This result shows that the propagation of the =2E spinless massive boson produces inexorably dispersive effects. It also shows that the semiclassical prediction is always greater than the geometrical one, no matter what the boson mass is. In addition, it is found that SGR predicts a deflection angle of similar to2.6 arcsec for a nonrelativistic spinless massive boson passing at the Sun's limb.

Photoluminescence behavior in MgTiO3 powders with vacancy/distorted clusters and octahedral tilting

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

A comparative evaluation of open loop and closed loop drug administration strategies in the treatment of AIDS.

In recent years, many researchers in the field of biomedical sciences have made successful use of mathematical models to study, in a quantitative way, a multitude of phenomena such as those found in disease dynamics, control of physiological systems, optimization of drug therapy, economics of the preventive medicine and many other applications. The availability of good dynamic models have been providing means for simulation and design of novel control strategies in the context of biological events. This work concerns a particular model related to HIV infection dynamics which is used to allow a comparative evaluation of schemes for treatment of AIDS patients. The mathematical model adopted in this work was proposed by Nowak & Bangham, 1996 and describes the dynamics of viral concentration in terms of interaction with CD4 cells and the cytotoxic T lymphocytes, which are responsible for the defense of the organism. Two conceptually distinct techniques for drug therapy are analyzed: Open Loop Treatment, where a priori fixed dosage is prescribed and Closed Loop Treatment, where the doses are adjusted according to results obtained by laboratory analysis. Simulation results show that the Closed Loop Scheme can achieve improved quality of the treatment in terms of reduction in the viral load and quantity of administered drugs, but with the inconvenience related to the necessity of frequent and periodic laboratory analysis.

Open regionalism and economic integration

Includes bibliography

Report of the workshop in Caribbean small and medium-sized enterprises and trade liberalization: challenges of clusters and network initiatives

Includes bibliography