Leverage instability and persistence: Evidence from the United States and Europe

We find that leverage behavior both in level and time-series variation is very similar between the United States and Europe throughout the 1990-2013 period. Leverage regimes are simultaneously unstable and persistent for both regions. We define instability as the extent to which firms largely deviate from their long-term leverage mean, while persistence as the extent to which today’s leverage influences its future levels. We then show that this simultaneous evidence imply a mean-reversion behavior of leverage and discuss some of its implications for future research on this field.

The relationship between liquidity and profitability in the food & beverage industry evidence from Europe and United States

This Work Project clarifies the relationship between liquidity and profitability based on a sample in the Food & Beverage (F&B) industry, and comparing the largest European and United States companies. The research concludes that liquidity, proxied by current ratio or quick ratio, correlates with return on assets taken as the measure of profitability, and so does the cash conversion cycle and its components. Moreover, company size correlates with liquidity, and indirectly affects ROA. This research contributes and addresses to managers in the F&B industry and recommends how they should act in order to improve profitability in the industry.

Mangrove vegetation in Amazonia: a review of studies from the coast of Pará and Maranhão States, north Brazil

The present study is a compilation of the literature about vegetation of mangrove forest of the north coast of Brazil. It synthesizes the knowledge about this important ecosystem and lists the currently available literature. The study focuses on the coast of Pará and Maranhão states, which are covered by a continuous belt of mangroves. The mangrove flora comprises six mangrove tree species and several associated species. Mangrove tree height and stem diameter vary as a function of abiotic local stand parameters. Seasonal variation in rainfall and salinity affect the species' phenology and litter fall. Local population use products derived from mangrove plants for different purposes (e.g. fuel; medicinal; rural construction). The increase in the coastal population has given rise to conflicts, which impact on mangrove forest.

Search for the Xb and other hidden-beauty states in the π+π-ϒ{hooked}(1S) channel at ATLAS

This Letter presents a search for a hidden-beauty counterpart of the X(3872) in the mass ranges 10.05--10.31 GeV and 10.40--11.00 GeV, in the channel Xb→π+π−Υ(1S)(→μ+μ−), using 16.2 fb−1 of s√=8 TeV pp collision data collected by the ATLAS detector at the LHC. No evidence for new narrow states is found, and upper limits are set on the product of the Xb cross section and branching fraction, relative to those of the Υ(2S), at the 95% confidence level using the CLS approach. These limits range from 0.8% to 4.0%, depending on mass. For masses above 10.1 GeV, the expected upper limits from this analysis are the most restrictive to date. Searches for production of the Υ(13DJ), Υ(10860), and Υ(11020) states also reveal no significant signals.

Search for low-scale gravity signatures in multi-jet final states with the ATLAS detector at s√ = 8 TeV

We search for evidence of physics beyond the Standard Model in the production of final states with multiple high transverse momentum jets, using 20.3 fb−1 of proton-proton collision data recorded by the ATLAS detector at s√ = 8 TeV. No excess of events beyond Standard Model expectations is observed, and upper limits on the visible cross-section for non-Standard Model production of multi-jet final states are set. Using a wide variety of models for black hole and string ball production and decay, the limit on the cross-section times acceptance is as low as 0.16 fb at the 95% CL for a minimum scalar sum of jet transverse momentum in the event of about 4.3 TeV. Using models for black hole and string ball production and decay, exclusion contours are determined as a function of the production mass threshold and the gravity scale. These limits can be interpreted in terms of lower-mass limits on black hole and string ball production that range from 4.6 to 6.2 TeV.

Search for charged Higgs bosons decaying via H± → τ±ν in fully hadronic final states using pp collision data at √s = 8 TeV with the ATLAS detector

The results of a search for charged Higgs bosons decaying to a τ lepton and a neutrino, H±→τ±ν, are presented. The analysis is based on 19.5 fb−1 of proton--proton collision data at s√=8 TeV collected by the ATLAS experiment at the Large Hadron Collider. Charged Higgs bosons are searched for in events consistent with top-quark pair production or in associated production with a top quark. The final state is characterised by the presence of a hadronic τ decay, missing transverse momentum, b-tagged jets, a hadronically decaying W boson, and the absence of any isolated electrons or muons with high transverse momenta. The data are consistent with the expected background from Standard Model processes. A statistical analysis leads to 95% confidence-level upper limits on the product of branching ratios B(t→bH±)×B(H±→τ±ν), between 0.23% and 1.3% for charged Higgs boson masses in the range 80--160 GeV. It also leads to 95% confidence-level upper limits on the production cross section times branching ratio, σ(pp→tH±+X)×B(H±→τ±ν), between 0.76 pb and 4.5 fb, for charged Higgs boson masses ranging from 180 GeV to 1000 GeV. In the context of different scenarios of the Minimal Supersymmetric Standard Model, these results exclude nearly all values of tanβ above one for charged Higgs boson masses between 80 GeV and 160 GeV, and exclude a region of parameter space with high tanβ for H± masses between 200 GeV and 250 GeV.

Measurement of the WW+WZ cross section and limits on anomalous triple gauge couplings using final states with one lepton, missing transverse momentum, and two jets with the ATLAS detector at s√=7 TeV

The production of a W boson decaying to eν or μν in association with a W or Z boson decaying to two jets is studied using 4.6 fb−1 of proton--proton collision data at s√=7 TeV recorded with the ATLAS detector at the LHC. The combined WW+WZ cross section is measured with a significance of 3.4σ and is found to be 68±7 (stat.)±19 (syst.) pb, in agreement with the Standard Model expectation of 61.1±2.2 pb. The distribution of the transverse momentum of the dijet system is used to set limits on anomalous contributions to the triple gauge coupling vertices and on parameters of an effective-field-theory model.

Search for the associated production of the Higgs boson with a top quark pair in multilepton final states with the ATLAS detector

A search for the associated production of the Higgs boson with a top quark pair is performed in multilepton final states using 20.3 fb−1 of proton-proton collision data recorded by the ATLAS experiment at s√=8 TeV at the Large Hadron Collider. Five final states, targeting the decays H→WW∗, ττ, and ZZ∗, are examined for the presence of the Standard Model (SM) Higgs boson: two same-charge light leptons (e or μ) without a hadronically decaying τ lepton; three light leptons; two same-charge light leptons with a hadronically decaying τ lepton; four light leptons; and one light lepton and two hadronically decaying τ leptons. No significant excess of events is observed above the background expectation. The best fit for the tt¯H production cross section, assuming a Higgs boson mass of 125 GeV, is 2.1+1.4−1.2 times the SM expectation, and the observed (expected) upper limit at the 95% confidence level is 4.7 (2.4) times the SM rate. The p-value for compatibility with the background-only hypothesis is 1.8σ; the expectation in the presence of a Standard Model signal is 0.9σ.

Search for a new resonance decaying to a W or Z boson and a Higgs boson in the ℓℓ/ℓν/νν+bb¯final states with the ATLAS detector

A search for a new resonance decaying to a W or Z boson and a Higgs boson in the ℓℓ/ℓν/νν+bb¯ final states is performed using 20.3 fb−1 of pp collision data recorded at s√= 8 TeV with the ATLAS detector at the Large Hadron Collider. The search is conducted by examining the WH/ZH invariant mass distribution for a localized excess. No significant deviation from the Standard Model background prediction is observed. The results are interpreted in terms of constraints on the Minimal Walking Technicolor model and on a simplified approach based on a phenomenological Lagrangian of Heavy Vector Triplets.

Search for Dark Matter in Events with Missing Transverse Momentum and a Higgs Boson Decaying to Two Photons in pp Collisions at root s=8 TeV with the ATLAS Detector

Results of a search for new phenomena in events with large missing transverse momentum and a Higgs boson decaying to two photons are reported. Data from proton--proton collisions at a center-of-mass energy of 8 TeV and corresponding to an integrated luminosity of 20.3 fb−1 have been collected with the ATLAS detector at the LHC. The observed data are well described by the expected Standard Model backgrounds. Upper limits on the cross section of events with large missing transverse momentum and a Higgs boson candidate are also placed. Exclusion limits are presented for models of physics beyond the Standard Model featuring dark-matter candidates.

Production of biohydrogen from dark fermentation of organic wastes

Dissertação de mestrado em Bioengenharia

The effects of sodium hypochlorite against selected drinking water-isolated bacteria in planktonic and sessile states

Chlorine is the most commonly used agent for general disinfection, particularly for microbial growth control in drinking water distribution systems. The goals of this study were to understand the effects of chlorine, as sodium hypochlorite (NaOCl), on bacterial membrane physicochemical properties (surface charge, surface tension and hydrophobicity) and on motility of two emerging pathogens isolated from drinking water, Acinetobacter calcoaceticus and Stenotrophomonas maltophilia. The effects of NaOCl on the control of single and dual-species monolayer adhered bacteria (2 h incubation) and biofilms (24 h incubation) was also assessed. NaOCl caused significant changes on the surface hydrophobicity and motility of A. calcoaceticus, but not of S. maltophilia. Planktonic and sessile S. maltophilia were significantly more resistant to NaOCl than A. calcoaceticus. Monolayer adhered co-cultures of A. calcoaceticus-S. maltophilia were more resilient than the single species. Oppositely, dual species biofilms were more susceptible to NaOCl than their single species counterparts. In general, biofilm removal and killing demonstrated to be distinct phenomena: total bacterial viability reduction was achieved even if NaOCl at the higher concentrations had a reduced removal efficacy, allowing biofilm reseed. In conclusion, understanding the antimicrobial susceptibility of microorganisms to NaOCl can contribute to the design of effective biofilm control strategies targeting key microorganisms, such as S. maltophilia, and guarantying safe and high-quality drinking water. Moreover, the results reinforce that biofilms should be regarded as chronic contaminants of drinking water distribution systems and accurate methods are needed to quantify their presence as well as strategies complementary/alternative to NaOCl are required to effectively control the microbiological quality of drinking water.

The real economic effects of cross-delistingfrom the united states: evidence on post-operating performance, financial constraints and stock crash risk

Tese de Doutoramento em Ciências Empresariais.