Production of acid whey hydrolysates applying an integrative process: effect of calcium on process performance

High ionic calcium concentration and the absence of caseinmacropeptides (CMP) in acid whey could influence the production of angiotensin-I-converting enzyme (ACE)-inhibitory hydrolysate and its bioactivity through the application of the integrative process. Therefore, the aim of the present study was to produce a hydrolysate from acid whey applying the integrative process. Process performance was evaluated based on protein adsorption capacity and conversion in relation to ACE-inhibitory activity (ACEi%) and ionic calcium concentration. Hydrolysates with high potency of their biological activity were produced (IC50 = 206-353 μg mL-1). High ionic calcium concentration in acid whey contributed to ACE-inhibitory activity. However, low β-lactoglobulin adsorption and conversion was observed. Optimisation of the resin volume increased the adsorption of β-lactoglobulin significantly but with lower selectivity. The changes in conversion value were not significant even at higher concentration of enzyme. Several ACE inhibitors derived from β-lactoglobulin that were identified before in sweet whey hydrolysates such as, IIAEKT, IIAE, IVTQ, LIVTQ, LIVTQT, LDAQ and LIVT were found. New peptides such as, SNICNI and ECCHGD derived from α-lactalbumin and BSA respectively were identified.

Colloidal gas aphrons based separation process for the purification and fractionation of natural phenolic extracts

Following previous studies, the aim of this work is to further investigate the application of colloidal gas aphrons (CGA) to the recovery of polyphenols from a grape marc ethanolic extract with particular focus on exploring the use of a non-ionic food grade surfactant (Tween 20) as an alternative to the more toxic cationic surfactant CTAB. Different batch separation trials in a flotation column were carried out to evaluate the influence of surfactant type and concentration and processing parameters (such as pH, drainage time, CGA/extract volumetric and molar ratio) on the recovery of total and specific phenolic compounds. The possibility of achieving selective separation and concentration of different classes of phenolic compounds and non-phenolic compounds was also assessed, together with the influence of the process on the antioxidant capacity of the recovered compounds. The process led to good recovery, limited loss of antioxidant capacity, but low selectivity under the tested conditions. Results showed the possibility of using Tween 20 with a separation mechanism mainly driven by hydrophobic interactions. Volumetric ratio rather than the molar ratio was the key operating parameter in the recovery of polyphenols by CGA.

Optimizing the Performance Evaluation Process for Non-Academic Staff

If conducted poorly and without support from all employee levels, performance management programs at institutions may devolve into annual evaluations that represent a staff burden rather than an ongoing career development opportunity. This brief analyzes the key components of successful performance evaluation systems for non-academic staff, incorporating insights from employers outside of the higher education sector as well. It examines the importance of midyear check-in meetings; employee goal-setting; simplified rating scales on evaluation forms; and core staff competencies that reflect institutional priorities. It also describes how institutions communicate modifications to the evaluation system and offers recommendations for the implementation of process change.

Brazil's election: as polarized as can be

What you see above is a graphic representation of something anyone who followed the campaign that led to the re-election of Dilma Rousseff as Brazil’s president on October 26 already knows: the election was the most polarised in the country’s history. Brasil was split down the middle, not only numerically (Dilma got 52 per cent, Aécio Neves 48) and geographically (Dilma won in the less developed north, Aécio in the more prosperous south). The twitterspere, too, was divided into two camps. Not only that; they hardly talked to each other at all.

Corporate governance and its influence on the investment decision process of equity market's professionals: An inside view of how corporate governance issues influence the decision-making process of sell-side and buy-side professionals when analyzing Brazilian listed companies

Corporate governance has been in the spotlight for the past two decades, being subject of numerous researches all over the world. Governance is pictured as a broad and diverse theme, evolving through different routes to form distinct systems. This scenario together with 2 types of agency problems (investor vs. management and minorities vs. controlling shareholders) produce different definitions for governance. Usually, studies investigate whether corporate governance structures influence firm performance, and company valuation. This approach implies investors can identify those impacts and later take them into consideration when making investment decisions. However, behavioral finance theory shows that not always investors take rational decisions, and therefore the modus operandi of those professionals needs to be understood. So, this research aimed to investigate to what extent Brazilian corporate governance standards and practices influence the investment decision-making process of equity markets' professionals from the sell-side and buy-side. This exploratory study was carried out through qualitative and quantitative approaches. In the qualitative phase, 8 practitioners were interviewed and 3 dimensions emerged: understanding, pertinence and practice. Based on the interviews’ findings, a questionnaire was formulated and distributed to buy-siders and sell-siders that cover Brazilian stocks. 117 respondents from all over the world contributed to the study. The data obtained were analyzed through structural equation modeling and descriptive statistics. The 3 dimensions became 5 constructs: definition (institutionalized governance, informal governance), pertinence (relevance), practice (valuation process, structured governance assessment) The results of this thesis suggest there is no definitive answer, as the extent to which governance will influence an investment decision process will depend on a number of circumstances which compose the context. The only certainty is the need to present a “corporate governance behavior”, rather than simply establishing rules and regulations at firm and country level.

The risk of falling into the acceleration trap during a privatization process: a case study of a European telecommunication company

A privatização de uma empresa é uma mudança empresarial disruptiva que geralmente coincide com o fim de uma posição de monopólio e da subsequente entrada num ambiente competitivo. Os desafios que a privatização coloca são tão árduos que eles levam muitas vezes a liderança (leadership) para executar planos ambiciosos de mudança empresarial. No entanto, a literatura mostra que muitos deles falharam. Na verdade, esses planos preveem mudanças bruscas e importantes que tendem a empurrar a empresa privatizada na armadilha de aceleração (acceleration trap). Um tipo de “burnout organizacional” (organizational burnout) onde a exaustão e a resignação da força de trabalho afetam drasticamente o desempenho da empresa. A tese, portanto, focalizou em estudar a ligação entre um processo de privatização e o risco de cair na armadilha de aceleração. Uma investigação preliminar sobre a literatura das mudanças empresariais permitiu a concepção de um quadro preliminar teórico que sugere a existência de dois moderadores (moderators) deste relacionamento entre um processo de privatização e a armadilha de aceleração: um “choque cultural” (cultural clash) e um “fraco clima de liderança transformacional” (weak transformational leadership). Em seguida, um estudo de caso - baseado numa empresa de telecomunicações europeia e conduzido através de uma abordagem metodológico não puramente indutivo (non-purely inductive approach) - confirma, mas também aprofunda a compreensão da ação desses dois moderadores. A respeito do moderador “choque cultural” (cultural clash moderator), a análise de dados do estudo de caso da empresa de telecomunicações europeia mostra a importância exercitado tanto por um “choque de identidade corporativa” (corporate identity conflict) como por um “conflito de identidade gerencial” (management identity conflict). Quanto ao moderador “fraco liderança transformacional”, a análise dos dados destaca o papel da “falta de confiança na nova gerência” (lack of trust in the new management), mas também de “sentido do trabalho” (lack of job sense), principalmente através da perda de “orgulho no trabalho” (loss of proudness). Finalmente, a análise dos dados salienta que a “não aceitação do novo sistema de incentivos” (non-acceptance of the new incentive system) afeta significativamente a relação entre a privatização e a armadilha de aceleração, contribuindo tanto para um “choque cultural” como para um “fraco clima de liderança transformacional”.

Impactos da adoção das novas tecnologias BPM (business process management) nos processos governamentais

Este relatório consolida os trabalhos de pesquisa, desenvolvidos entre abril de 2005 e abril de 2006, sobre o estado de adoção e oportunidades para uso de novas tecnologias de informação em processos de governo. A ampliação de fronteiras, para além dos limites tradicionais das organizações, traz uma nova e mais forte demanda por flexibilidade que possibilite o tratamento integrado de organismos de diferentes constituições, arquiteturas e processos operacionais, sem falar nos diferentes sistemas de informações. Isto é ainda mais importante nas organizações públicas. Por outro lado, uma das principais características negativas dos órgãos públicos é a morosidade e a burocracia nos processos administrativos e de atendimento ao cidadão. A falta de uma visão tecnológica moderna, isto é, a falta de um Plano Diretor de Tecnologia da Informação (PDTI) voltada para novas soluções, como é o caso do BPM, alinhada à falta de integração entre os sistemas e processos, faz com que muitos órgãos governamentais estejam caminhando na contramão do desenvolvimento tecnológico. Este projeto de pesquisa reveste-se, portanto, de alto interesse, pois focaliza as possibilidades e impactos da adoção das novas tecnologias orientadas a processos e web services (BPM - Business Process Management e BPMS - Business Process Management Systems) na área governamental, bastante desprovida de soluções integradas de serviços aos cidadãos e empresas. Estas novas tecnologias trazem paradigmas completamente diferentes dos até aqui adotados na implementação de sistemas de informações e automação de processos. Apesar das dificuldades inerentes ao tratamento de um tema complexo e novo, mais ainda em organismos governamentais, acreditamos ter desenvolvido um trabalho bastante aprofundado, atendendo aos objetivos estabelecidos no plano original, com os necessários acertos de rota e foco dos trabalhos. Cremos, também, que este trabalho estabelece uma referência relevante no conhecimento relacionados à melhoria de processos de governo, com base em novas tecnologias. Como sub-produtos planejados e realizados, inseridos no caderno de anexos a este relatório, estão conteúdos já desenvolvidos para a edição um ou dois livros sobre o tema, diversos artigos produzidos, além de diversos eventos realizados na EAESP, envolvendo o tema do projeto, que proporcionaram a oportunidade de excelentes trocas de experiências. Este relatório, apresentado de forma objetiva e sintética, focalizando somente os principais aspectos tratados, é complementado por um extenso conteúdo complementar, entregue em um caderno de Anexos.

Growth process in business and social entrepreneurship: the case of Brazil

The purpose of the dissertation is to investigate in depth the difference between the challenges social and business entrepreneurs face in the growth phase of their business in the particular environment of Brazil. This objective has been achieved through a two-steps methodology. The first step is a set of in-depth interviews carried out with industry experts such as professors, venture capitalists, consultants, fund managers or people involved in the support of growing startups (i.e. accelerators). These interviews allowed, first, to build a general perspective on the environment entrepreneurs operate into and to identify a list of challenges entrepreneurs face in the growth process of their business. This list was completed with the additional challenges identified in the previous literature. The second step of the methodology was to test the relevance of these challenges in the mind and experience of social and traditional entrepreneurs. A questionnaire was then submitted to 145 social and 286 traditional entrepreneurs. The results were statistically analyzed to test the relative relevance of these challenges for one group of entrepreneurs with respect to the other. The outcome of the analysis was significant. The most relevant challenges identified were, for both groups, taxation, bureaucracy, finding the right employees, creating effective teams, measuring firm performance and social value creation and obtaining funds. On the other side motivation, innovation, competition and lack of market space for growth represented the least relevant issues in the minds of entrepreneurs. This rank however did not differ significantly from social to traditional entrepreneurs. This testifies that in Brazil social and traditional entrepreneurs face the same set of challenges despite the widespread belief of the opposite.

Winning in Brazil: how institutional voids affect the entry decision making process of foreign venture capital firms coming to Brazil

The master thesis for the achievement of the academic status master of science in international management (MPGI) will aim to solve the research question of how institutional voids affect the entry decision-making process of foreign venture capital firms coming to Brazil. This is a timely matter since in the past years there has been a sudden eruption of foreign VC involvement in Brazil. Based on the actionable framework by Khanna and Palpeu (2010) we conducted quantitative as well as qualitative research with two sets of interview partners in a two-phase analysis. We interviewed experts from VC firms, foreign VC firms based in Brazil and perspective VC firms that are looking to come to Brazil. We started with the former, derived lessons learned and analyzed how they affect the latter in reaching a decision. As we expected we found that depending on the industry that ventures are in, institutional voids can either pose an opportunity or a threat and hence attract or push away potential VC firms entering Brazil. Opportunities exist especially when exploiting institutional voids, for example through ventures in the marketplace efficiency. Threats are posed by investments in for instance hard infrastructure, where the economic, political and judicial systems as well as corruption and bureaucracy play demanding roles.

Ensaios em economia política aplicada

Esta tese é constituída por três capítulos que se enquadram na área de Microeconomia Aplicada, sendo dois deles de Economia Política Aplicada e o outro de Economia da Educação. O primeiro capítulo investiga se a eleição de mulheres para a prefeitura impacta a inserção de outras mulheres no mercado político, reduzindo-se assim uma preferência pré-estabelecida pelos eleitores de não votar em mulheres. Para realizar o exercício, utiliza-se um experimento de Regressão em Descontinuidade onde explora-se eleições em que uma mulher perdeu ou ganhou por uma margem pequena de votos para um candidato homem, a ponto do gênero eleito ser aleatório. Os resultados mostram que a eleição de uma mulher tem impacto apenas em ambientes mais propícios a eleger mulheres (o que foi mensurado aqui pelo percentual de vereadoras eleitas) ou em locais onde os candidatos tinham maior qualidade (medido pela escolaridade). O segundo artigo estima o impacto da divulgação da qualidade escolar sobre a migração dos alunos entre escolas. A ideia é que ao tornar-se público o sinal de qualidade, escolas e alunos têm incentivos para se adaptarem conforme sua demanda por qualidade. Para isso, explora-se um desenho de Regressão em Descontinuidade Fuzzy devido a um dos critérios de divulgação do IDEB ser a escola ter no mínimo 20 alunos matriculados na série avaliada. Os resultados mostram que as escolas que tiveram IDEB divulgado tiveram maior migração de alunos e, em especial, de alunos em condições de vulnerabilidade. O terceiro artigo avalia a hipótese de exogeneidade da abertura comercial brasileira, promovida no final da década de 1980 e início da de 1990. Há uma vasta literatura que explora os efeitos da abertura comercial sobre o mercado de trabalho, desigualdade de renda, pobreza e crescimento econômico. Tais trabalhos consideram o processo de liberalização brasileiro como não correlacionado com as demandas de nenhum setor de atividade econômica específico, o que justificaria utilizar o período de abertura como um instrumento para lidar com endogeneidade nas estimações. Nós apresentamos evidência de que, embora não correlacionado com nenhum setor em especial, a abertura estava correlacionada com a distribuição de capital político dos governos nesse período, e pode ter funcionado como uma estratégica clara de fortalecimento político ou, pelo menos, teve o contexto político como um facilitador do processo.

Invariant tests in an instrumental variables model with unknown data generating process

In this work we focus on tests for the parameter of an endogenous variable in a weakly identi ed instrumental variable regressionmodel. We propose a new unbiasedness restriction for weighted average power (WAP) tests introduced by Moreira and Moreira (2013). This new boundary condition is motivated by the score e ciency under strong identi cation. It allows reducing computational costs of WAP tests by replacing the strongly unbiased condition. This latter restriction imposes, under the null hypothesis, the test to be uncorrelated to a given statistic with dimension given by the number of instruments. The new proposed boundary condition only imposes the test to be uncorrelated to a linear combination of the statistic. WAP tests under both restrictions to perform similarly numerically. We apply the di erent tests discussed to an empirical example. Using data from Yogo (2004), we assess the e ect of weak instruments on the estimation of the elasticity of inter-temporal substitution of a CCAPM model.

Impact of forced-aging process on Madeira Wine flavor

The aim of this study was to determine the optimal temperature and baking time to obtain a Madeira wine considered typical by an expert panel. For this purpose simultaneous descriptive analyses of typical Madeira wines were performed, and seven descriptors were selected: “dried fruit”, “nutty”, “musty”, “baked”, “oak”, “mushroom”, and “brown sugar”. Up to 10 odor-active zones were the most frequently cited by the members of the GC-olfactometry panel as corresponding to the panel’s descriptors. The odor importance of each of the zones reported by the GC-O analysis was ranked by AEDA. Three odor zones were identified as common to both Malvasia and Sercial wines and had retention indices (RI) of 1993 (“brown sugar” and “toasted”), 2151 (“brown sugar”), and 2174 (“nutty”, “driedfruits”);sotolonwasidentifiedasresponsibleforthislastaroma.Severalmoleculeswereselected to be quantified on baked wines on the basis of AEDA results and expected Maillard volatiles, such as sotolon, furfural, 5-methylfurfural, 5-ethoximethylfurfural, methional, and phenylacetaldehyde. It was observed that typicity scores were positively correlated with the concentrations of sotolon and sugar and baking time and negatively with the fermentation length.

Integrating strategic and sustainable design approach for innovation process: a cement case study

Global society and technology have changed the relationships of the market. Quality and cost are not the main aspects of any industrial product. On the other hand, design, innovation and sustainability became significant requirements to company’s competitiveness. In this context, the design approach has shown evolutions, integrating social and environmental aspects beside traditional aspects such as technical and economic. Still, design has been becoming a strategic opportunity for companies, improving their competitiveness and increasing their market share. Thus, this research has analyzed the integration of both the Sustainable Design and Strategic Design Coaching (SDC) method in the making decision activities of companies. A cement company (BQMIL) was assigned as case study, in which the previous results have pointed out the significant hole of those concepts to generate Eco-innovation and Eco-Brand to increase its market share, corroborating the expectative of the design team

Report on activities at the Caribbean subregional level relating to the Beijing + 5 review process for the CDCC meeting

Among the recommendations on institutional arrangements, the Beijing Platform for Action specifically mandates the regional commissions to promote and assist the pertinent national institutions in monitoring and implementing the global Platform for Action. In fulfilling this mandate and in contributing to the Beijing +5 review process, the ECLAC Subregional Headquarters for the Caribbean developed a “Beijing Five-Year Review” project which aimed at providing technical assistance to the governments in the subregion; research into the progress made towards gender mainstreaming and convening the Third Subregional Conference on Women.