Cinema attendance during crises is there a relationship between cinema attendance and the state of the economy in France in the period 1992-2012?

O presente estudo teve como objetivo testar se a situação econômica teve um impacto sobre os hábitos de consumo de cinema na França, no período contemporâneo (1992-2012). O estudo aborda a relação entre indicadores econômicos e consumo de cinema em um nível agregado e, em seguida, analisa se os vários tipos de filmes, tipos de cinemas e categorias de cinéfilos foram mais ou menos foram afetados pelo estado da economia. No nível agregado, estudos semelhantes já foram realizados em outros países. Este estudo confirma os resultados para a França: como em outros países desenvolvidos, a situação da economia tem pouca influência no consumo de cinema e o setor é resiliente. Este trabalho também traz novas análises detalhadas sobre o comportamento de vários sub-tipos de filmes, segmentos de locais e categorias de consumidores. Ele demonstra que para a maior parte dessas sub-categorias, drivers do mercado são oferta e preço, e que a situação da economia tem pouca influência. Quanto ao tipo de cinema, o estudo argumenta que, comparativamente, cinemas grandes conseguem crescer durante o período de crise.

Forecasting Multivariate Time Series under Present-Value-Model Short- and Long-run Co-movement Restrictions

This paper has two original contributions. First, we show that the present value model (PVM hereafter), which has a wide application in macroeconomics and fi nance, entails common cyclical feature restrictions in the dynamics of the vector error-correction representation (Vahid and Engle, 1993); something that has been already investigated in that VECM context by Johansen and Swensen (1999, 2011) but has not been discussed before with this new emphasis. We also provide the present value reduced rank constraints to be tested within the log-linear model. Our second contribution relates to forecasting time series that are subject to those long and short-run reduced rank restrictions. The reason why appropriate common cyclical feature restrictions might improve forecasting is because it finds natural exclusion restrictions preventing the estimation of useless parameters, which would otherwise contribute to the increase of forecast variance with no expected reduction in bias. We applied the techniques discussed in this paper to data known to be subject to present value restrictions, i.e. the online series maintained and up-dated by Shiller. We focus on three different data sets. The fi rst includes the levels of interest rates with long and short maturities, the second includes the level of real price and dividend for the S&P composite index, and the third includes the logarithmic transformation of prices and dividends. Our exhaustive investigation of several different multivariate models reveals that better forecasts can be achieved when restrictions are applied to them. Moreover, imposing short-run restrictions produce forecast winners 70% of the time for target variables of PVMs and 63.33% of the time when all variables in the system are considered.

Is what you say what you do? Analyzing and comparing the effect of buyer-supplier relationship in the Brazilian and Chinese supplier selection criteria

Choosing properly and efficiently a supplier has been challenging practitioners and academics since 1960’s. Since then, countless studies had been performed and relevant changes in the business scenario were considered such as global sourcing, quality-orientation, just-in-time practices. It is almost consensus that quality should be the selection driver, however, some polemical findings questioned this general agreement. Therefore, one of the objectives of the study was to identify the supplier selection criteria and bring this discussion back again. Moreover, Dickson (1966) suggested existing business relationship as selection criterion, then it was reviewed the importance of business relationship for the company and noted a set of potential negative effects that could rise from it. By considering these side effects of relationship, this research aimed to investigate how the relationship could influence the supplier selection and how its harmful effects could affect the selection process. The impact of this phenomenon was investigated cross-nationally. The research strategy adopted was a controlled experiment via vignette combined with discrete choice analysis. The data collections were performed in China and Brazil. By examining the results, it could be drawn five major findings. First, when purchasers were asked to declare their supplier selection priorities, quality was stated as the most important independently of country and relationship. This result was consistent with diverse studies since 60’s. However, when purchasers were exposed to a multi-criteria trade-off situation, their actual selection priorities deviate from what they had declared. In the actual decision-making without influence of buyer-supplier relationship, Brazilian purchasers focused on price and Chinese buyers prioritized delivery then price. This observation reinforced some controversial prior studies of Verma & Pullman (1998) and Hirakubo & Kublin (1998). Second, through the introduction of the buyer-supplier relationship (operationalized via relational capital) in the supplier selection process, this research extended the existing studies and found that Brazilian buyers still focused on price. The relationship became just another criterion for supplier selection such as quality and delivery. However, from the Chinese sample, the results suggested that quality was totally discarded and the decision was majorly made through price and relationship. The third finding suggested that relational capital could legitimate the quality and sustainability of the supplier and replaces these selection criteria and made the decisional task less complex. Additionally, with the relational capital, the decision-makings were associated to few biases such as availability cognition, commitment, confirmatory and perceived biases. By analyzing the purchasers’ behavior, relational capital inducted buyers of both countries to relax in their purchasing requirements (quality, delivery and sustainability) leading to potential negative effects. In the Brazilian sample, the phenomenon of willing to pay a higher price for a lower quality offer demonstrated to be a potential counterproductive and suboptimal decision. Finally, the last finding was associated to the cultural effect on the buyers’ decisions. From the outcome, it is possible to observe that if a purchaser’s cultural background is more relation-oriented, the more he will tend to use relational capital as a decision heuristic, thus, the purchaser will be more susceptible to the potential relationship’s side effects

Wrong-way risk in stock swaps : measuring counterparty credit risk and CVA

Uma forma interessante para uma companhia que pretende assumir uma posição comprada em suas próprias ações ou lançar futuramente um programa de recompra de ações, mas sem precisar dispor de caixa ou ter que contratar um empréstimo, ou então se protegendo de uma eventual alta no preço das ações, é através da contratação de um swap de ações. Neste swap, a companhia fica ativa na variação de sua própria ação enquanto paga uma taxa de juros pré ou pós-fixada. Contudo, este tipo de swap apresenta risco wrong-way, ou seja, existe uma dependência positiva entre a ação subjacente do swap e a probabilidade de default da companhia, o que precisa ser considerado por um banco ao precificar este tipo de swap. Neste trabalho propomos um modelo para incorporar a dependência entre probabilidades de default e a exposição à contraparte no cálculo do CVA para este tipo de swap. Utilizamos um processo de Cox para modelar o instante de ocorrência de default, dado que a intensidade estocástica de default segue um modelo do tipo CIR, e assumindo que o fator aleatório presente na ação subjacente e que o fator aleatório presente na intensidade de default são dados conjuntamente por uma distribuição normal padrão bivariada. Analisamos o impacto no CVA da incorporação do riscowrong-way para este tipo de swap com diferentes contrapartes, e para diferentes prazos de vencimento e níveis de correlação.

Changes in physical properties of extruded sour cassava starch and quinoa flour blend snacks

Fundação de Amparo à Pesquisa do Estado de São Paulo (FAPESP)

Economic valuation of collecting water to billing in the aspersion irrigated bean in the no tillage system and conventional crop

The law's project n.676/2000 approved the collecting of billing water for farmers in a maximum foreseen value of US$ 0.01 m(-3) of extracted water in the São Paulo State. As the irrigated agriculture is the activity that consumes more water, the farmers profitability can be affected. This work was to analyze the economic impact of billing water in the aspersion irrigated bean crop to consider the system of conventional production and no tillage system in the Paranapanema municipal district, São Paulo State, Brazil. The indicators used to analyze the economic results were unit variable cost, market price and unit profitability. The results showed that for the aspersion irrigated bean crop in conventional system, the participation of cost to the recourse water in cost variable totality was of 2.5% and in no tillage system the participation was of 2.2%. The fall of profitability just the billing water in conventional crop system and in no tillage system was US$ 0.01 kg(-1).

Analysis of the different forms of application and types of cutting fluid used in plunge cylindrical grinding using conventional and superabrasive CBN grinding wheels

The work reported here involved an investigation into the grinding process, one of the last finishing processes carried out on a production line. Although several input parameters are involved in this process, attention today focuses strongly on the form and amount of cutting fluid employed, since these substances may be seriously pernicious to human health and to the environment, and involve high purchasing and maintenance costs when utilized and stored incorrectly. The type and amount of cutting fluid used directly affect some of the main output variables of the grinding process which are analyzed here, such as tangential cutting force, specific grinding energy, acoustic emission, diametrical wear, roughness, residual stress and scanning electron microscopy. To analyze the influence of these variables, an optimised fluid application methodology was developed (involving rounded 5, 4 and 3 turn diameter nozzles and high fluid application pressures) to reduce the amount of fluid used in the grinding process and improve its performance in comparison with the conventional fluid application method (of diffuser nozzles and lower fluid application pressure). To this end, two types of cutting fluid (a 5% synthetic emulsion and neat oil) and two abrasive tools (an aluminium oxide and a superabrasive CBN grinding wheel) were used. The results revealed that, in every situation, the optimised application of cutting fluid significantly improved the efficiency of the process, particularly the combined use of neat oil and CBN grinding wheel. (c) 2005 Elsevier Ltd. All rights reserved.

Photoelastic analysis to compare implant-retained and conventional obturator dentures

Fundação de Amparo à Pesquisa do Estado de São Paulo (FAPESP)

Comparative cytogenetic and morphological analysis of Astyanax scabripinnis paranae (Pisces, Characidae, Tetragonopterinae)

Foram realizados estudos citogenéticos e morfológicos em nove populações locais de Astyanax scabripinnis paranae. Todas as populações apresentaram 2n = 50 cromossomos e conspícuas diferenças envolvendo a morfologia dos cromossomos, número e posição das NORs e quantidade e localização dos blocos de heterocromatina constitutiva. O estudo quantitativo dos dados citogenéticos, usando a análise das variáveis canônicas (CVA), mostraram que oito populações apresentaram diferentes constituições cariotípicas. Análises morfológicas baseadas em nove caracteres morfométricos e dois merísticos foram eficazes no estabelecimento de uma clara identificação de cinco populações. Análises comparativas dos dados citogenéticos e morfológicos sugerem que as modificações cromossômicas e morfológicas ocorreram em diferentes taxas, sendo as cromossômicas mais rápidas do que as morfológicas. A despeito da similaridade morfológica encontrada entre algumas populações, diferenças cromossômicas foram detectadas entre todas as populações estudadas.

Modulation of coronary flow and cardiomyocyte size by sensory fibers

Cardiac tissue is densely innervated by sensory neurons that an believed to play important modulatory roles in cardiac functions. In this study, pretreatment of neonate mts with capsaicin was performed. In adult rats, cardiomyocyte size and amount of fibrous tissue in left ventricles as well as in vitro coronary flow were evaluated, the chronotropic and inotropic responses to beta-adrenoceptor agonists (norepinephrine and isoproterenol), muscarinic agonists (carbachol and pilocarpine), and calcitonin gene-related peptide (CGRP) were also investigated with the use of the isolated right atria preparation. Capsaicin pretreatment significantly (P<0.05) reduced both basal coronary flow (18% reduction) and cardiomyocyte size (34% reduction) without affecting the amount of fibrous tissues in the left ventricles. The positive inotropic and chronotropic effects in response to norepinephrine in the isolated rat heart did not significantly differ between control and capsaicin-treated rats, Similarly, the positive chronotropic effects in response to norepinephrine, isoproterenol, and CGRP as well as the negative chronotropic responses to carbachol and pilocarpine in the isolated light atria were not affected by capsaicin pretreatment, Our data are consistent with the suggestion that reductions of both basal coronary flow and cardiomyocyte size seen in hearts from capsaicin-pretreated rats may be consequences of CGRP depletion. The cardiomyocyte size reduction produced by capsaicin treatment may be related to a modulatory role of CGRP as a growth factor.

Melanocytes in the testes of Eupemphix nattereri (Anura, Leiuperidae): Histological, stereological, and ultrastructural aspects

Ectothermic vertebrates have a well-developed system of melanin-containing cells, which localize in several organs and tissues and compose an extracutaneous pigmentary system. This research aimed at characterizing histological and ultrastructural patterns of pigmented cells in the testes of the anura Eupemphix nattereri (Steindachner, 1963), including the stereological and quantitative evaluation of this cell type in the gonads. Ten adult males were collected in Nova Itapirema, São Paulo, Brazil, and submitted to morphological studies with light and transmission electron microscopy. The testis presents a great number of large cells with many brown granules and long cytoplasmic processes. The pigmented cells found in the testis are structurally similar to melanocytes, characterized by large amounts of melanosomes. The cells may be in intimate contact with the same cell type, with myoid cells surrounded by a large amount of collagen fibers, Leydig cells, and next to fibroblasts. The distribution and amount of extracutaneous melanocytes is variable when other organs and membranes are analyzed, allowing the establishment of species-specific patterns for the extracutaneous pigmentary system.

The use of the challenge test to analyse preservative efficiency in non-sterile cosmetic and health products: applications and critical points

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Organic complexation and translocation of ferric iron in podzols of the Negro River watershed. Separation of secondary Fe species from Al species

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Influence of the colony cycle on physiological and morphological caste variation in the perennial neotropical swarm-founding social wasp, Protonectarina sylveirae (Hymenoptera, Vespidae, Epiponini)

This paper describes the influence of the colony cycle on caste differences in Protonectarina sylveirae. Despite invariably keeping the main aspects of the conspicuous dimorphism between the castes, it is shown that: 1- queen-worker differences varied according to the progress of the colony cycle, 2- queens in pre-emergence colonies were smaller than those in male-producing ones, 3- workers were larger in pre-emergence than in other colony stages, 4- at particular steps of the colony cycle, non-inseminated ovary-developed queens and workers were detected. The size of the spermatheca differed between inseminated and non-inseminated queens with the highest values appearing in those bearing the most developed kind of ovary development. Differences between inseminated and non-inseminated queens were found in tergites III and IV, ovarian development and amount of fatty tissues. Because tergite size relates to gaster size, this character may be an important stimulus for selection of larger queens in the course of the colony cycle.

Histochemical characterization and secretory activity of the hypopharyngeal glands in the primitive social wasp Polistes versicolor (Hymenoptera: Vespidae)

Using histochemical techniques, the present work describes the basic histochemical characteristics of the secretion in hypopharyngeal glands of Polistes versicolor (Olivier) and estimates the secretory activity in specimens of different ages. The secretory activity was determined by glandular cell diameter and by the amount of secretion present in the glands. The results did not reveal a relationship between these parameters and the age of the wasps, not allowing us to determine the development cycle of these glands throughout the wasps' life. Also, a relationship between glandular cell diameter and amount of secretion present in the glands was not observed.