Recovering the counterfactual wage distribution with selective return migration

This paper recovers the distribution of wages for Mexican-born workers living in the U.S. if no return migration of Mexican-born workers occurred. Because migrants self-select in the decision to return, the overarching problem addressed by this study is the use of an estimator that also accounts for selection on unobservables. I find that Mexican returnees are middle- to high-wage earners at all levels of educational attainment. Taking into account self-selection in return migration, wages would be approximately 7.7% higher at the median and 4.5% higher at the mean. Owing to positive self-selection, the immigrant-native wage gap would, therefore, partially close if there was no return migration.

Alceste's Return

A sequel to Moliere's drama, "The Misanthrope." As of January 2015, it had been selected as a semi-finalist in the AACT playwriting competition. If selected as a finalist, it will be performed in 2016 and published with Dramatist Play Service.

Board of directors and top management team: a study on CEO relative power and financial return

Best corporate governance practices published in the primers of Brazilian Securities and Exchange Commission and the Brazilian Corporate Governance Institute promote board independence as much as possible, as a way to increase the effectiveness of governance mechanism (Sanzovo, 2010). Therefore, this paper aims at understanding if what the managerial literature portraits as being self-evident - stricter governance, better performance - can be observed in actual evidence. The question answered is: do companies with a stricter control and monitoring system perform better than others? The method applied in this paper consists on comparing 116 companies in respect to the their independence level between top management team and board directors– being that measured by four parameters, namely, the percentage of independent outsiders in the board, the separation of CEO and chairman, the adoption of contingent compensation and the percentage of institutional investors in the ownership structure – and their financial return measured in terms return on assets (ROA) from the latest Quarterly Earnings release of 2012. From the 534 companies listed in the Stock Exchange of Sao Paulo – Bovespa – 116 were selected due to their level of corporate governance. The title “Novo Mercado” refers to the superior level of governance level within companies listed in Bovespa, as they have to follow specific criteria to assure shareholders ´protection (BM&F, 2011). Regression analyses were conducted in order to reveal the correlation level between two selected variables. The results from the regression analysis were the following: the correlation between each parameter and ROA was 10.26%; the second regression analysis conducted measured the correlation between the independence level of top management team vis-à-vis board directors – namely, CEO relative power - and ROA, leading to a multiple R of 5.45%. Understanding that the scale is a simplification of the reality, the second part of the analysis transforms all the four parameters into dummy variables, excluding what could be called as an arbitrary scale. The ultimate result from this paper led to a multiple R of 28.44%, which implies that the combination of the variables are still not enough to translate the complex reality of organizations. Nonetheless, an important finding can be taken from this paper: two variables (percentage of outside directors and percentage of institutional investor ownership) are significant in the regression, with p-value lower than 10% and with negative coefficients. In other words, counter affirming what the literature very often portraits as being self-evident – stricter governance leads to higher performance – this paper has provided evidences to believe that the increase in the formal governance structure trough outside directors in the board and ownership by institutional investor might actually lead to worse performance. The section limitations and suggestions for future researches presents some reasons explaining why, although supported by strong theoretical background, this paper faced some challenging methodological assumptions, precluding categorical statements about the level of governance – measured by four selected parameters – and the financial return in terms of financial on assets.

Effect of measurement error and autocorrelation on the (X)over-bar chart

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Stretched-exponential behavior and random walks on diluted hypercubic lattices

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

SPATIAL AUTOCORRELATION OF MORPHOMETRIC VARIATION IN LUTOSA-BRASILIENSIS (BRUNNER VONWATTENWYL, 1888) (ORTHOPTERA, GRYLLACRIDOIDEA, HENICIDAE)

Geographic differentiation and sexual dimorphism in eighteen morphometric characters of Lutosa brasiliensis (Orthoptera: Henicidae) collected in eight localities of the State of São Paulo (Brazil) were analysed. A two-way Multivariate Analysis of Variance (MONOVA) was used to assess simultaneously the effects of sex and geographic location (plus their interaction) on morphometric variability. The spatial patterns of variation were analysed by Factor and Spatial Autocorrelation Analyses (Moran's I coefficient in four distance classes). Both indicate that the main direction of variation is, for males and females, a north-south cline in overall body size. In females, however, ovipositor length is not correlated with overall body size and displays a different pattern of variation over geographic space, indicating that distinct evolutionary forces produced the geographic differentiation in the species.

Power flow in distribution networks with earth return

The problems of wave propagation and power flow in the distribution network composed of an overhead wire parallel to the surface of the ground have not been satisfactorily solved. While a complete solution of the actual problem is impossible, as it is explained in the famous Carson's paper (1926), the solution of the problem, where the actual earth is replaced by a plane homogenous semi-infinite solid, is of considerable interest. In this paper, a power flow algorithm in distribution networks with earth return, based on backward-forward technique, is discussed. In this novel use of the technique, the ground is explicitly represented. In addition, an iterative method for determining impedance for modelling ground effect in the extended power flow algorithm is suggested. Results obtained from single-wire and three-wire studies using IEEE test networks are presented and discussed. (C) 2003 Elsevier Ltd. All rights reserved.