Direito do investimento e inovação tecnológica: o histórico regulatório da transferência de tecnologia no Brasil em face das cláusulas de proteção dos acordos bilaterais de investimentos (BITs)

A regulação direta ou indireta da transferência de tecnologia pelo Brasil desde o final da década de 50 do século XX nem sempre foi devidamente compreendida. O uso da tributação, com efeitos fiscais e extrafiscais, teve reflexos sobre a atuação do INPI e do Banco Centra do Brasil (BACEN) que permanecem até os dias de hoje, mas tinham como fundamento uma política industrial específica e a limitação dos seus efeitos no balanço de pagamentos do país. O Brasil nunca se fechou totalmente aos investidores estrangeiros, mas sempre utilizou limitações setoriais, posteriormente o registro do ingresso do capital estrangeiro e, por muito tempo, o desincentivo à sua saída por medidas limitadoras ou proibitivas de remessas de dividendos e royalties, até mesmo com o uso da extrafiscalidade. Como o país apenas recentemente realmente prioriza de forma geral a pesquisa e desenvolvimento (P&D) tecnológico, o que resulta em pouca tecnologia gerada internamente, os royalties devidos pelo uso da tecnologia das empresas transnacionais sempre foram objeto de crítica e, consequentemente, medidas limitadoras. Essa atuação regulatória representa um risco político aos investidores, com os acordos bilaterais de investimentos (BITs) sendo os tratados internacionais mais utilizados para afastá-lo. O Brasil, porém, apesar de ter assinado diversos deles, não possui nenhum em vigor. O confronto entre as cláusulas de proteção dos BITs e a política regulatória sobre a transferência de tecnologia e investimento estrangeiro que durante muito tempo vigorou no país representa um caso concreto extremamente interessante para avaliar a aplicação desses tratados e eventuais medidas que os violam, auxiliando, ainda, a compreensão de algumas das medidas regulatórias que permanecem em vigor.

Exposição cambial: o impacto do câmbio nas ações das empresas brasileiras internacionalizadas

O aumento da internacionalização das economias emergentes e a tendência de financeirização da economia mundial motivaram este estudo que tem como principal objetivo analisar estatisticamente o impacto das variações cambiais no retorno das ações das principais empresas brasileiras internacionalizadas, segundo o ranking realizado pela Fundação Dom Cabral, no período entre 2000 e 2012. Além disso, buscou-se, também, descrever o processo inicial de internacionalização dessas mesmas companhias. Para isso, foi realizada uma pesquisa descritiva e quantitativa, por meio da utilização do método estatístico de regressão linear múltipla. Constatou-se que nas 28 empresas analisadas não há correlação entre variações nas taxas de câmbio e variações no retorno das ações das empresas brasileiras internacionalizadas, evidenciando assim, que outras variáveis são as responsáveis por impactarem o retorno dessas ações. Verificou-se, ainda, que a maior parte das empresas brasileiras iniciam seu processo de internacionalização por meio da instalação de linhas de produção no exterior, seguida de exportação e fusões e aquisições com outras companhias.

The marine fisheries of Jamaica

The marine fisheries of Jamaica are almost entirely artisanal, with at least 15 000 fishers and an annual catch of approximately 7 000 t. A recent development is a small industrial fishery for queen conch and spiny lobster that earns significant foreign exchange for the country. The major aquatic resources are coral reef fishes, conch, lobster, small pelagics and seasonal large pelagics. The major fishing grounds are the southern island shelf and Pedro Bank, a large oceanic bank 150 km to the southwest of Kingston. The fisheries are rated as overfished, except the queen conch fishery which is relatively well managed. A new Fisheries Bill is currently being reviewed with the intention of improving the efficiency of management measures and of fisheries administration. There are plans for rehabilitating the fisheries and developing them with a focus on their sustainability in the future.

Some common defects in prawn processing: their sources and remedies

The processing of prawns has assumed very great importance in India because processed prawn products have become one of the most important foreign exchange earners in the country.

Role of technology in the development of fisheries

The basic purpose of fishing is to catch/harvest as much fish as possible and reach it to the consumer as a wholesome, acceptable food, though fishery development programs are based on diverse objectives which include, besides the production of a valuable food, creation of employment opportunities, socio-economic uplift of the fishermen community, and earning foreign exchange through export. Both the production and the utilization of fish depend intrinsically on the efficient application of technology.

Problemas da gestāo dos stocks de camarāo

The worldwide shrimp landings in 1988 were reported to be 2.484.000 tons an increase of about 460.000 tons compared with 1985. The majority of shrimp fishing areas located in the tropical and sub-tropical regions with a contribution of more than 2 million tone. The most important species are the shallow water Penaeid shrimps. This quantity of about 2.5 million tons represents approximately 3% of the world marine catch. In terms of value, it represents almost 30% of the world trade in fish products. Main management objectives include: long term resources conservation; to maximize physical catches; to maximize the total income from catches or foreign exchange; to maximize economic profits; to reduce the shrimp by catch or improve its utilization; other social and economic interests. These objectives are in part interconnected and some are in conflict. Resource conservation is a basic condition for all other management objectives. Management policy definition should be in accordance with national goals and based on available scientific knowledge of the resources and of the fishing industry. The definition and selection of management objectives is an important process, to which the scientists must contribute the best way they can, mainly in providing the necessary information and options for management.

Socio-cultural influences on sanitation, fish handling and artisanal fish processing within the fishing communities

The fishery sector in Uganda has seen important changes in the last two decades. Among the changes registered, is the expansion of fish markets locally, regionally and internationally. Upon which, remarkable benefits have been realized at local and national levels, for instance, it is estimated that an average of 40m$ is being earned annually as foreign exchange. Besides, presently fish accounts for over 50% of total animal protein in take. However, it is argued that sustaining these gains has become an up hill task due to failure to maintain fish quality as a result of the rudimentary and inappropriate sanitary, fish handling and artisanal fish processing practices that both directly and indirectly affect the quality of fish and fish products. Therefore, against this background, a study of 507 respondents was undertaken among the Lake Victoria Communities specifically in Wakiso, Mayuge and Mukono districts. The study examined the perceptions of fishers on the social cultural practices of sanitation, fish handling and artisanal fish processing and consequently identified factors that influenced these practices.

Use of length-weight relationship in grading processed beche-de-mer

Holothurians, belonging to the species Holothuria scabra, have been collected by diver-fishermen and processed for export. There is an active fishery for these animals in Palk Bay and Gulf of Mannar, off the north-western coast of Sri Lanka. The absence of standardized method of grading has led to unwarranted variation in sale prices and sometimes in loss of foreign exchange in Sri Lanka. In this paper an attempt is made to present a method to grade processed beche-de-mer by using the lenght-weight relationship.

A statistical study on weight loss in frozen prawns

This paper deals with an extensive study conducted to estimate the extent of weight loss in frozen prawns. The weight Joss varied from 7 to 12% in peeled and deveined (PD), 5 to 7% in headless (HL) and about 7% in cooked and peeled (CP) prawns from the date of processing to the date of inspection, normally within two weeks. To compensate the weight loss nearly 11% of excess material is being added with every frozen block resulting in an average annual loss of Rs. 2.68 crores in foreign exchange. The relevant data pertain to the period 1971 to 1973 and the annual average loss was estimated for the ten years ending 1973.

Occurrence of Zoothamnium sp. infection in Penaeus monodon (Fabricius, 1798) of the coastal shrimp culture ponds of Cox's Bazar Bangladesh

Penaeus monodon (Fabricius, 1798) is a popular cultivable species and valuable foreign exchange earning item among all the fishery commodities in Bangladesh. At present with semi-intensive and intensive shrimp culture practices, disease is a problem. Protozoan infection, caused by the Zoothamnium sp. is one of the causes of damage in the total production by growth retardation and mortality. No work has yet been done on shrimp disease in Bangladesh. The present account therefore, constitutes the first report on it from the shrimp culture ponds of Cox's Bazar. The present work includes the occurrence and prevalence of protozoan disease, its seasonal variations and level of infestation in different length groups in Penaeus monodon.

Farming the seaweed Kappaphycus

Seaweed farming is the top foreign exchange earner for the Philippines. Kappaphycus constitutes 80% of the Philippine seaweed export. It is sold in both fresh and dried forms; although dried seaweed has a greater demand, fresh seaweed is highly prices in restaurants. The 3 main seaweed products marketed are agar, alginate and carrageenan. A brief outline is given of farming operations and investment costs and returns.

The brand-orientated play-community: toxic play in the marketplace

This ethnographic study makes a number of original contributions to the consumer identity projects and the marketplace cultures dimensions of consumer culture theory research. This study introduces the notion of the brand-orientated play-community, a novel consumption community form, which displays, as locus, a desire to play. This contributes to our understanding of the fluid relationship between subcultures of consumption, consumer tribes, and brand community. It was found that the brand-orientated play-community’s prime celebration, conceptualised as the ‘branded carnival’, displays characteristics of the archetypal carnival. The community access carnivalistic life and a world-upside-down ethos via the use and misuse of marketplace resources. The branded carnival is further supported by the community’s enactment of ‘toxic play’, which entails abnormal alcohol consumption, black market illegal resources, edgework activities, hegemonic masculinity and upsetting the public. This play-community is discussed in terms of a hyper-masculine playpen, as the play enacted has a direct relationship with the enactment of strong masculine roles. It was found that male play-ground members enact the extremes of contrasting masculine roles as a means to subvert the calculated and sedate ‘man-of-action-hero’ synthesis. Carnivals are unisex, and hence, women have begun entering the play-ground. Female members have successfully renegotiated their role within the community, from playthings to players – they have achieved player equality, which within the liminoid zone is more powerful than gender equality. However, while toxic play is essential to the maintenance of collective identity within the culture so too is the more serious form of play: the toxic sport of professional beer pong. The author conceptualises beer pong as a ‘toxic sport’, as it displays the contradictory play foundations of agon and corrupt ilinx: this is understood as a milestone step in the emergence of the postmodern sport era, in which spontaneity and the carnivalesque will dominate.

Estimating stochastic volatility diffusion using conditional moments of integrated volatility

We exploit the distributional information contained in high-frequency intraday data in constructing a simple conditional moment estimator for stochastic volatility diffusions. The estimator is based on the analytical solutions of the first two conditional moments for the latent integrated volatility, the realization of which is effectively approximated by the sum of the squared high-frequency increments of the process. Our simulation evidence indicates that the resulting GMM estimator is highly reliable and accurate. Our empirical implementation based on high-frequency five-minute foreign exchange returns suggests the presence of multiple latent stochastic volatility factors and possible jumps. © 2002 Elsevier Science B.V. All rights reserved.

Prediction in dynamic models with time-dependent conditional variances

This paper considers forecasting the conditional mean and variance from a single-equation dynamic model with autocorrelated disturbances following an ARMA process, and innovations with time-dependent conditional heteroskedasticity as represented by a linear GARCH process. Expressions for the minimum MSE predictor and the conditional MSE are presented. We also derive the formula for all the theoretical moments of the prediction error distribution from a general dynamic model with GARCH(1, 1) innovations. These results are then used in the construction of ex ante prediction confidence intervals by means of the Cornish-Fisher asymptotic expansion. An empirical example relating to the uncertainty of the expected depreciation of foreign exchange rates illustrates the usefulness of the results. © 1992.

Comparative analysis of corporate risk management practices in Croatian and Slovenian companies

The paper explores differences as well as commonalities in corporate risk management practices and risk exposures in the large non-financial Slovenian and Croatian companies. Comparative analysis of survey results have revealed that the majority of analysed companies in both Croatia and Slovenia are using some form of risk management to manage interest-rate, foreign exchange, or commodity price risk. Regarding the intensity of influence of financial risks on the performance of the analysed companies, the results have shown that the price risk has the highest influence among the Slovenian as well as the Croatian companies. Croatian companies are more affected by currency risk than the Slovenian companies, while the interest-rate risk has been ranged as less important in comparison with commodity price and currency risks. The survey’s results have clearly indicated that Croatian and Slovenian non-financial companies manage financial risks primarily with simple risk management instruments such as natural hedging. In the case of derivatives use, forwards and swaps are by far the most important instruments in both countries, but futures as representatives of standardised derivatives and structured derivatives are more important in the Slovenian than in the Croatian companies.