Earnings management and economic crises in the brazilian capital market

The 2008 economic crisis challenged accounting, either demanding recognition and measurement criteria well adjusted to this scenario or even questioning its ability to inform appropriately entities' financial situation before the crisis occurred. So, our purpose was to verify if during economic crises listed companies in the Brazilian capital market tended to adopt earnings management (EM) practices. Our sample consisted in 3,772 firm-years observations, in 13 years - 1997 to 2009. We developed regression models considering discretionary accruals as EM proxy (dependent variable), crisis as a macroeconomic factor (dummy variable of interest), ROA, market-to-book, size, leverage, foreign direct investment (FDI) and sector as control variables. Different for previous EM studies two approaches were used in data panel regression models and multiple crises were observed simultaneously. Statistics tests revealed a significant relation between economic crisis and EM practices concerning listed companies in Brazil in both approaches used.

New source-material for the socio-economic history of the Hindus of Goa

The Mhamai brothers were the suppliers of daily commodities / stationery to the viceroys / governors of Goa. Since late 18th century their agency house worked in partnership with several other trading houses all over the west coast of India. They also served as brokers for the French East India company in Goa during the critical period of anglo-french wars. The Mhamais were also revenue farmers, particularly customs and tobacco tax farming. I had the privilege of taking their family archives to the Xavier Centre of Historical Research in 1979 and making the history of the family known worldwide.

The right to medical care and its economic consequences: an American dilemma

The concepts of "rights" and of "right to health care" including its evolution in modern times are discussed. The consequences of implementing this right are discussed in economic terms, regarding the situation in the United States of America. A discussion is also included on the limitations of the role of Health Insurance as a measure to solve the problem of providing health care for all individuals.

Distribuição das lesões esquistossomóticas extra-hepáticas em camundongos infectados pelas linhagens BH e SJ do Schistosoma mansoni

Foi estudada a distribuição dos granulomas esquistossomóticos no baço, pulmões, rins, coração e intestinos de camundongos parasitados pelas linhagens BH e SJ de S. mansoni. Verificou-se que a distribuição de granulomas produzidos pelos esquistossomos das duas linhagens é semelhante, sendo que a linhagem BH produziu número significativamente maior de lesões no baço e nos pulmões.

Geographical stratification by socio-economic status: methodology from a household survey with elderly people in S. Paulo, Brazil

Considering that in most developing countries there are still no comprehensive lists of addresses for a given geographical area, there has always been a problem in drawing samples from the community, ensuring randomisation in the selection of the subjects. This article discusses the geographical stratification by socio-economic status used to draw a multistage random sample from a community-based elderly population living in a city like S. Paulo - Brazil. Particular attention is given to the fact that the proportion of elderly people in the total population of a certain area appeared to be a good discriminatory variable for such stratification. The validity of the stratification method is analysed in the light of the socio-economic results obtained in the survey.

The relationships between selected anthropometric and socio-economic data in schoolchildren from different social strata in Rio de Janeiro, Brazil

The nutritional status according to anthropometric data was assessed in 756 schoolchildren from 5 low-income state schools and in one private school in the same part of Rio de Janeiro, Brazil. The prevalence of stunting and wasting (cut-off point: <90% ht/age and <80% wt/ht) ranged in the public schools from 6.2 to 15.2% and 3.3 to 24.0%, respectively, whereas the figures for the private school were 2.3 and 3.5%, respectively. Much more obesity was found in the private school (18.0%) than in the state schools (0.8 - 6.2%). Nutritional problems seem to develop more severely in accordance with the increasing age of the children. Therefore it appears advisable to assess schoolchildren within the context of a nutritional surveillance system.

On the economic analysis of response to preventive measures

There are many circumstances in which the effectiveness of preventive measures depends to a large extent on the compliance of the patient in changing his or her behavior or lifestyle. It is shown how economic techniques can be used (i) to describe the rationale of individuals and predict their behavior (Section 2); and (ii) to assess preventive measures that, by requiring a change of conduct, imply "costs" to the individual due to a decline in the quality of life (Appendix). Cigarette smoking and coronary heart disease are used as an illustration. While the analysis of Section 2 uses graphical techniques, a simple textbook-type of lifetime utility model with a mathematical emphasis is used in the Appendix. It is also shown that techniques often used to assess health care programs such as the QALYs (Quality-Adjusted Life Years) are inappropriate to the evaluation of preventive programs aiming at behavioral changes. Finally, topics that call for further research are indicated.

Atividades extra-curriculares e prevenção ao abuso de drogas: uma questão polêmica

O presente trabalho descreve dados colhidos entre 16.117 estudantes de primeiro e segundo graus, de quinze cidades brasileiras, sobre a prática de algumas atividades não curriculares e o consumo de álcool e drogas. Não foi encontrada, na ampla maioria dos casos, nenhuma associação entre praticar esportes, artes e atividades comunitárias e o consumo dessas substâncias. Mas foi encontrada correlação negativa fraca, mas constante, entre consumo de álcool e drogas e freqüência a atividades religiosas. Os achados são discutidos à luz de alguns preconceitos correntes na sociedade brasileira, que rotula o jovem sem ocupação definida como drogado em potencial. Discutem também as implicações do fato de entre os jovens praticantes de atividades religiosas haver uma discreta diminuição do uso de álcool e drogas.

The social adjustment of patients with schizophrenia: implications to the mental health policy in Brazil

A sample (n=124) of schizophrenic patients from a defined catchment area of the city os S.Paulo, Brazil, who had been consecutively admitted to hospital, was assessed for psychopathological status and social adjustment levels. Sociodemographic, socio-economic and occupational characteristics were recorded: almost 30% of the subjects had no occupation and received no social benefit, more than two-thirds had a monthly per capita income of US$ 100.00 or less. Sixty-five percent presented with Schneiderian firstrank symptoms. Nearly half the sample showed poor or very poor social adjustment in the month prior to admission. The most affected areas of social functioning were participation in the household activities, work and social withdrawal. The current mental health policy of promoting extra-mural care as an alternative to the previous hospital-based model will then mean the investment in a network of new community-based services, that give effective treatment and support to patients and their families. The need of further research into the current picture of mental disorders in the country is stressed.

Influência de diferentes parâmetros na diminuição da actividade extra-miocárdica nos estudos Gated-SPECT

A imagem de perfusão do miocárdio por tomografia computorizada de emissão de fotão único (SPECT, do acrónimo inglês Single Photon Emission Computed Tomography) é um dos exames complementares de diagnóstico mais indicados na cardiologia clínica. Os dois agentes tecneciados mais utilizados são o 99mTc-tetrofosmina e o 99mTc-sestamibi. Estes permitem avaliar a distribuição do fluxo sanguíneo no músculo cardíaco. O mecanismo de fixação é idêntico nos dois radiofármacos (RF’s). São excretados, do organismo, a partir do sistema hepatobiliar para o duodeno e para o intestino. Assim, o RF está presente tanto no coração como nos órgãos adjacentes. O coração encontra-se localizado sobre o diafragma, logo acima do lobo esquerdo do fígado e nas proximidades do estômago. Deste modo, os fotões difusos provenientes desses órgãos podem interferir com a interpretação das imagens SPECT, principalmente na parede inferior do ventrículo esquerdo, traduzindo-se na redução da razão alvo-fundo e na qualidade da imagem. Deste modo, a sensibilidade e a especificidade da Cintigrafia de Perfusão do Miocárdio (CPM) diminuem. Têm sido descritos na literatura vários métodos e técnicas para minimizar o efeito da actividade extra-miocárdica, como: a aquisição de imagens mais tardias, a ingestão de líquidos ou alimentos ricos em lípidos. Outras técnicas apontam para a alteração do posicionamento do paciente durante a aquisição. Assim, o objectivo deste estudo é identificar o protocolo da CPM a nível nacional e avaliar a percentagem de repetições de exames provocadas pela interferência de actividade extra-miocárdica.

Assessing the effects of global warming and local social and economic conditions on the malaria transmission

OBJECTIVE: To show how a mathematical model can be used to describe and to understand the malaria transmission. METHODS: The effects on malaria transmission due to the impact of the global temperature changes and prevailing social and economic conditions in a community were assessed based on a previously presented compartmental model, which describes the overall transmission of malaria. RESULTS/CONCLUSIONS: The assessments were made from the scenarios produced by the model both in steady state and dynamic analyses. Depending on the risk level of malaria, the effects on malaria transmission can be predicted by the temperature ambient or local social and-economic conditions.

Do economic and financial firm's situation affect the quality if financial reports?

We investigate whether firms’ economic and financial situation influence the Quality of their Financial Reports (FRQ). FRQ is fundamental for investors and it affects the international capital movements [Bradshaw et al. (2004)] and Gelos and Wei (2005)]. Following Schipper and Vicent (2003) we use two issues to access earnings quality: abnormal accruals and earnings persistence. For seventeen European countries, we find evidence that the economic performance affects FRQ. Big firms and those with high current earnings exhibit better financial information. These results are robust since they don’t depend on FRQ proxy and we have the same evidence when we estimate regression with economical and financial factors separately or together. About financial situation, it seems not to affect FRQ. However, in high leveraged firms, the capital structure becomes determinant.

Efeitos imediatos da oscilação extra-torácica de alta frequência "THE VESTr", em pacientes críticos submetidos a ventilação mecânica

A retenção de secreções é um problema comum em pacientes sedados e ventilados invasivamente, estas são ponto de partida para o aparecimento de infecções, pneumonia nosocomial e agravamento geral do estado clínico do paciente. Apesar de estudos comprovarem a eficácia da fisioterapia respiratória convencional nestes doentes, outros demonstraram que é cara, operador dependente, de eficácia variada e por vezes causar desconforto e dor. Vários estudos que comprovaram a segurança e eficácia da Alta Frequência Oscilatória Extra Torácica serviram de base para a realização do estudo onde se avaliou os efeitos fisiológicos imediatos da aplicação da técnica e diferenças a médio e longo prazo na comparação entre dois grupos. O VestR força o ar para dentro e para fora dos pulmões aumentando a interacção fluxo/secreções reduzindo a sua viscosidade, ao libertar e mobilizar as secreções, estas são mais facilmente aspiradas, reduzindo o risco de infecção pulmonar. Dez pacientes que cumpriram critérios de inclusão entraram no estudo. Durante dois dias foi aplicado num dos grupos o VestR durante dez minutos, três vezes por dia. Foram registados os parâmetros ventilatórios, cardíacos e de oxigenação para avaliar efeitos fisiológicos imediatos. Para comparação de grupos foram efectuados registos durante as 48h dos parâmetros referidos anteriormente. No período de follow up foram registados os dias de internamento hospitalar na unidade de cuidados intensivos e os dias de ventilação mecânica invasiva. Pelo reduzido tamanho amostral foi usada a estatística descritiva para a análise dos dados. Não foram encontradas diferenças significativas entre os dois grupos, apesar de haver uma tendência de melhoria dos parâmetros fisiológicos imediatos durante a aplicação da técnica. Concluímos que, com a limitação do tamanho amostral, os efeitos positivos imediatos da aplicação da HFCWO neste grupo podem-se revelar um bom indício para a realização de estudos futuros, com tamanhos amostrais superiores e melhor controlados, que comprovem que é uma técnica mais vantajosa e eficaz para o tratamento dos doentes críticos.

A new wind farm in Santiago Island, cape verde - simulation and economic studies

Ensuring sustainable development conditions is presently world widely recognized as a critically important goal. This makes the use of electricity generation technologies based on renewable energy sources very relevant. Developing countries depend on an adequate availability of electrical energy to assure economic progress and are usually characterized by a high increase in electricity consumption. This makes sustainable development a huge challenge but it can also be taken as an opportunity, especially for countries which do not have fossil resources. This paper presents a study concerning the expansion of an already existent wind farm, located in Praia, the capital of Cape Verde Republic. The paper includes results from simulation studies that have been undertaken using PSCAD software and some economic considerations.