Fuel ethanol price drivers in the Atlantic basin : Brazil & the U.S. traders perspectives

Como a oportunidade de exportação de etanol combustível é muito recente, o agronegócio carece de literatura para formação de gestores e estrategistas. Este trabalho tem como objetivo descrever o mecanismo de formação de preços de etanol tanto no Brasil como nos Estados Unidos da America. Decupei as variáveis que impactam na formação de preços, custo de produção de etanol de cana-de-açúcar, custo da logística e desidratação no Caribe, custo do etanol de milho e fiz algumas análises de cenários de formação de preços das principais variáveis e consegui organizar este conhecimento em um gráfico que contém no eixo superior preço do etanol hidratado na usina no Brasil e no eixo inferior o preço do bushel de milho em Chicago cujas interceções nas retas da taxa do dólar e do preço do gás natural, fornecem no eixo Y o preço do produto no porto de Nova York, ficando uma visualização simples das possibilidades da janela de exportação. A metodologia permite assumir diferentes cenários de oferta, demanda e preços e estabelecer diferentes estratégias de comercialização.

Internet share of advertising expenditure : growth drivers and inhibitors in the brazilian market

Os investimentos com publicidade na Internet como uma percentagem das despesas totais de publicidade variam significativamente de um país para outro. O número é tão baixo quanto 4,7% no mercado brasileiro e tão alto como 28,5% no mercado britânico (ZenithOptimedia, 2011b). Algumas razões explicam tal disparidade. No nível macro, a participação dos gastos com publicidade na Internet está fortemente ligada a variáveis como o produto interno bruto per capita e à penetração da Internet na população. No nível micro, uma pesquisa qualitativa foi feita para identificar os fatores que contribuem e inibem o crescimento da participação da publicidade online no mercado brasileiro. A vasta lista de inibidores parece ter profundo impacto sobre como os profissionais de mercado tomar decisões de alocação de investimento em publicidade por tipo de mídia. Devido à legislação, à auto-regulamentação e às dinâmicas da indústria, grande parte da tomada de decisão é realizada por agências de publicidade. Estas parecem ter fortes incentivos econômicos para selecionar outros tipos de mídia e não a Internet ao definir planos de mídia. Ao mesmo tempo, a legislação e a auto-regulamentação fornecem desincentivos para corretores de mídia a operar no mercado local. A falta de profissionais qualificados e a padronização limitada também desempenham papéis importante para inibir uma maior participação da Internet nos gastos com publicidade no Brasil. A convergência dos resultados quantitativos com os qualitativos indica possíveis motivos pelos quais a participação da publicidade online no Brasil é tão baixa. Em primeiro lugar, a participação é explicada pelo estágio de desenvolvimento dos países. Quanto mais rico e mais desenvolvido um país, maior a proporção de gastos com publicidade online tende a ser. Em segundo lugar, o estágio econômico emergente do Brasil potencialmente dá espaço para o aumento do ineficiências do mercado, tais como programas de descontos oferecidos de forma desproporcional para os principais decisores de alocação de investimentos de mídia. Este fato aparentemente produz um feedback negativo, contribuindo para manter a baixa participação da publicidade online no total dos investimentos publicitários.

The drivers for entry and expansion modes of U.S.- based MNES in Brazil

The drivers for entry and expansion modes of multinational enterprises (MNEs) have been studied by several authors over the last decades but empirical results have been historically mixed. More recently, Hennart (2009) argued that the reason for the inconsistent results to date resided in the fact that prior theories assumed that local markets could be freely accessed based on a unilateral decision by the MNEs, and then proposes an alternative framework in which the entry and expansion modes of MNEs in foreign countries are a solution based on the relative efficiency of both markets. In this study, the proposed framework is tested against the prior theories based on investments made by U.S.-based MNEs in Brazil from 2005 to 2010. The results suggest that the local market characteristics, more specifically the concentration ratio at the firm and asset levels, are indeed important to influence the entry and expansion mode of U.S.-based MNEs in Brazil, reinforcing the argument against MNEs-centric theories. However, differently from Hennart’s proposition, we were not able to confirm the hypotheses that the MNEs skills are relevant to influence the final solution. We have also tested whether the difference in growth rate between the two countries could be a driver for MNEs to favor acquisition over greenfield given the opportunity cost of postponing the investments. The test result, based on our sample, was not able to confirm this hypothesis.

Citizens vs. banks: institutional drivers of financial market litigiousness in Brazil

This article analyzes the institutional drivers of Brazil’s alarmingly high levels of litigation between clients and financial institutions. Most of the policy oriented literature that explores that phenomenon discusses the impacts of a perceived debtor-friendly bias of Brazilian courts on generating feedback loops of litigation that further increases interest rates and creates adverse selection within the pool of potential debtors. This literature therefore addresses the way courts behave once disputes reach their doorstep; conversely, we take a step back to understand the underlying reasons for why such a large number of disputes end up in courts in the first place. We accordingly attribute endemic litigation in Brazilian financial markets to a framework of political, economic and legal institutions and circumstances, which this article aims to unbound and explain.

Decision of using local supplier as a CSR strategy: drivers and benefits for large international companies

A pesquisa aqui apresentada é uma análise detalhada de estratégias de compra associados à Responsabilidade Social Corporativa das empresas multinacionais e visa identificar os elementos que influenciam na escolha de fornecedores locais e os benefícios que tais estratégias podem trazer a estas empresas. A globalização e a pressão por melhores produtos e menores custos levam empresas a repensarem suas decisões de sourcing. Selecionar competências, recursos e ainda escolher onde comprar ou terceirizar, tornou-se uma decisão estratégica fundamental, e muitas multinacionais optam por usar fornecedores locais como um diferencial e uma plataforma de criação de valor para a empresa e para a sociedade. Enquanto esta abordagem reforça a posição de mercado e garante matérias-primas de qualidade a preços justos, o relacionamento com estes fornecedores traz desenvolvimento econômico e social para as comunidades subdesenvolvidas. Estudos sobre fornecedores locais geralmente focam em vantagens competitivas para as empresas, e na adaptação de cadeias de valor para atender estratégias globais de negócios, no entanto, a difusão do conhecimento sobre a criação de valor compartilhado é ainda limitada. Assim, o objetivo desta pesquisa foi identificar os aspectos de estratégia corporativa, gestão de fornecedores e colaboração que influenciam na criação de valor compartilhado. Dois estudos de casos foram expostos em uma pesquisa qualitativa exploratória com o propósito de avaliar iniciativas que tiveram como base o relacionamento com os fornecedores locais. A análise foi separada em três etapas com o objetivo de identificar (1) influências nas decisões de seleção de fornecedores, (2) aspectos que levam ao sucesso da gestão de fornecedores, e (3) o valor gerado como resultado destas decisões. Conceitos teóricos da CSR, SCM, colaboração e criação de valor compartilhado foram utilizados para apoiar os resultados e as principais conclusões. O resultado da pesquisa revelou que a idéia de co-criação de valor faz parte da cultura da empresa e pode ser considerado um dos motivos pelos quais multinacionais decidem usar fornecedores locais. Contudo, mesmo integrados na estratégia, não garantem criação efetiva de valor compartilhado e diversos componentes em uma estratégia de compras que representam responsabilidade social corporativa devem ser ajustados para motivar mudanças significativas. Ainda, vale lembrar que os elementos de colaboração, tais como a transparência e independência são vitais para melhorar o compromisso entre a multinacional e os negócios locais e criar valor compartilhado.

Co-creation in hospitality industry: a case study on the drivers of traveler-generated content

User-generated content in travel industry is the phenomenon studied in this research, which aims to fill the literature gap on the drivers to write reviews on TripAdvisor. The object of study is relevant from a managerial standpoint since the motivators that drive users to co-create can shape strategies and be turned into external leverages that generate value for brands through content production. From an academic perspective, the goal is to enhance literature on the field, and fill a gap on adherence of local culture to UGC given industry structure specificities. The business’ impact of UGC is supported by the fact that it increases e-commerce conversion rates since research undertaken by Ye, Law, Gu and Chen (2009) states each 10% in traveler review ratings boosts online booking in more than 5%. The literature review builds a theoretical framework on required concepts to support the TripAdvisor case study methodology. Quantitative and qualitative data compound the methodological approach through literature review, desk research, executive interview, and user survey which are analyzed under factor and cluster analysis to group users with similar drivers towards UGC. Additionally, cultural and country-specific aspects impact user behavior. Since hospitality industry in Brazil is concentrated on long tail – 92% of hotels in Brazil are independent ones (Jones Lang LaSalle, 2015, p. 7) – and lesser known hotels take better advantage of reviews – according to Luca (2011) each one Yelp-star increase in rating, increases in 9% independent restaurant revenue whereas in chain restaurants the reviews have no effect – , this dissertation sought to understand UGC in the context of travelers from São Paulo (Brazil) and adopted the case of TripAdvisor to describe what are the incentives that drives user’s co-creation among targeted travelers. It has an outcome of 4 different clusters with different drivers for UGC that enables to design marketing strategies, and it also concludes there’s a big potential to convert current content consumers into producers, the remaining importance of friends and family referrals and the role played by incentives. Among the conclusions, this study lead us to an exploration of positive feedback and network effect concepts, a reinforcement of the UGC relevance for long tail hotels, the interdependence across content production, consumption and participation; and the role played by technology allied with behavioral analysis to take effective decisions. The adherence of UGC to hospitality industry, also outlines the formulation of the concept present in the dissertation title of “Traveler-Generated Content”.

Drivers de inovação em modelos de negócios

O objetivo desta pesquisa é compreender quais drivers que afetam a inovação em modelos de negócio de startup. A revisão da literatura sugere quatro drivers de inovação: criatividade/experimentação, direção estratégica, contexto econômico e pressão do steakeholder. Além desses, há também e um driver de resistência a mudança, caminhando no sentido inverso à inovação, que é a lógica dominante da firma. A pesquisa utiliza o método de estudo de casos múltiplo, a partir de quatro casos de startups de tecnologia que apresentam características de inovação disruptiva em seu modelo de negócio. A análise dos casos mostrou que o driver ‘contexto econômico’ tem predominância na fase de criação do modelo de negócio, enquanto ‘criatividade/experimentação’ e ‘direção estratégica’ tem maior efeito com a evolução do negócio. A ‘pressão do stakeholder’ tem efeito indireto, ao aumentar a influência dos demais drivers. Já a ‘lógica dominante da firma’ não apresentou evidências de influência. Esta pesquisa contribui para o avanço da teoria na compreensão dos motivadores de inovação dos modelos de negócio em startups de tecnologia. A pesquisa encontrou evidências da ocorrência de queda na criatividade/experimentação com o passar do tempo, levando a uma maior rigidez e menor nível de inovação dos modelos de negócio. Como estudo de caso múltiplos, as descobertas desta pesquisa ficam restritas a generalizações teóricas dentro de seu contexto.

Protótipo de um microgerador termoelétrico de estado sólido: cogeração a gás

The thermoelectric energy conversion can be performed directly on generators without moving parts, using the principle of SEEBECK effect, obtained in junctions of drivers' thermocouples and most recently in semiconductor junctions type p-n which have increased efficiency of conversion. When termogenerators are exposed to the temperature difference (thermal gradient) eletromotriz a force is generated inducing the appearance of an electric current in the circuit. Thus, it is possible to convert the heat of combustion of a gas through a burner in power, being a thermoelectric generator. The development of infrared burners, using porous ceramic plate, is possible to improve the efficiency of heating, and reduce harmful emissions such as CO, CO2, NOx, etc.. In recent years the meliorate of thermoelectric modules semiconductor (TEG's) has stimulated the development of devices generating and recovery of thermal irreversibility of thermal machines and processes, improving energy efficiency and exergy these systems, especially processes that enable the cogeneration of energy. This work is based on the construction and evaluation of a prototype in a pilot scale, for energy generation to specific applications. The unit uses a fuel gas (LPG) as a primary energy source. The prototype consists of a porous plate burner infrared, an adapter to the module generator, a set of semiconductor modules purchased from Hi-Z Inc. and a heat exchanger to be used as cold source. The prototype was mounted on a test bench, using a system of acquisition of temperature, a system of application of load and instrumentation to assess its functioning and performance. The prototype had an efficiency of chemical conversion of 0.31% for electrical and heat recovery for cogeneration of about 33.2%, resulting in an overall efficiency of 33.51%. The efficiency of energy exergy next shows that the use of primary energy to useful fuel was satisfactory, although the proposed mechanism has also has a low performance due to underuse of the area heated by the small number of modules, as well as a thermal gradient below the ideal informed by the manufacturer, and other factors. The test methodology adopted proved to be suitable for evaluating the prototype

TORP: The Open Robot Project A Framework for Module-Based Robots

The development of robots has shown itself as a very complex interdisciplinary research field. The predominant procedure for these developments in the last decades is based on the assumption that each robot is a fully personalized project, with the direct embedding of hardware and software technologies in robot parts with no level of abstraction. Although this methodology has brought countless benefits to the robotics research, on the other hand, it has imposed major drawbacks: (i) the difficulty to reuse hardware and software parts in new robots or new versions; (ii) the difficulty to compare performance of different robots parts; and (iii) the difficulty to adapt development needs-in hardware and software levels-to local groups expertise. Large advances might be reached, for example, if physical parts of a robot could be reused in a different robot constructed with other technologies by other researcher or group. This paper proposes a framework for robots, TORP (The Open Robot Project), that aims to put forward a standardization in all dimensions (electrical, mechanical and computational) of a robot shared development model. This architecture is based on the dissociation between the robot and its parts, and between the robot parts and their technologies. In this paper, the first specification for a TORP family and the first humanoid robot constructed following the TORP specification set are presented, as well as the advances proposed for their improvement.

Efeito Peltier em estruturas semicondutoras quasiperiódicas

There is nowadays a growing demand for located cooling and stabilization in optical and electronic devices, haul of portable systems of cooling that they allow a larger independence in several activities. The modules of thermoelectrical cooling are bombs of heat that use efect Peltier, that consists of the production of a temperature gradient when an electric current is applied to a thermoelectrical pair formed by two diferent drivers. That efect is part of a class of thermoelectrical efcts that it is typical of junctions among electric drivers. The modules are manufactured with semiconductors. The used is the bismuth telluride Bi2Te3, arranged in a periodic sequence. In this sense the idea appeared of doing an analysis of a system that obeys the sequence of Fibonacci. The sequence of Fibonacci has connections with the golden proportion, could be found in the reproductive study of the bees, in the behavior of the light and of the atoms, as well as in the growth of plants and in the study of galaxies, among many other applications. An apparatus unidimensional was set up with the objective of investigating the thermal behavior of a module that obeys it a rule of growth of the type Fibonacci. The results demonstrate that the modules that possess periodic arrangement are more eficient

Observational study on efficacy of negative expiratory pressure test proposed as screening for obstructive sleep apnea syndrome among commercial interstate bus drivers - protocol study

Background: Obstructive sleep apnea (OSA) is a respiratory disease characterized by the collapse of the extrathoracic airway and has important social implications related to accidents and cardiovascular risk. The main objective of the present study was to investigate whether the drop in expiratory flow and the volume expired in 0.2 s during the application of negative expiratory pressure (NEP) are associated with the presence and severity of OSA in a population of professional interstate bus drivers who travel medium and long distances.Methods/Design: An observational, analytic study will be carried out involving adult male subjects of an interstate bus company. Those who agree to participate will undergo a detailed patient history, physical examination involving determination of blood pressure, anthropometric data, circumference measurements (hips, waist and neck), tonsils and Mallampati index. Moreover, specific questionnaires addressing sleep apnea and excessive daytime sleepiness will be administered. Data acquisition will be completely anonymous. Following the medical examination, the participants will perform a spirometry, NEP test and standard overnight polysomnography. The NEP test is performed through the administration of negative pressure at the mouth during expiration. This is a practical test performed while awake and requires little cooperation from the subject. In the absence of expiratory flow limitation, the increase in the pressure gradient between the alveoli and open upper airway caused by NEP results in an increase in expiratory flow.Discussion: Despite the abundance of scientific evidence, OSA is still underdiagnosed in the general population. In addition, diagnostic procedures are expensive, and predictive criteria are still unsatisfactory. Because increased upper airway collapsibility is one of the main determinants of OSA, the response to the application of NEP could be a predictor of this disorder. With the enrollment of this study protocol, the expectation is to encounter predictive NEP values for different degrees of OSA in order to contribute toward an early diagnosis of this condition and reduce its impact and complications among commercial interstate bus drivers.

IEEE 1451-based multi-interface module (I2M) for industrial processes automation

This paper describes the implementation of a multi-interface module (I2M) for automation of industrial processes, based on the IEEE1451 standard. Process automation with I2M can communicate through either wires or using wireless communication, without any hardware or software changes. We used FPGA resources to implement the I2M functions FPGA, with a NIOS II processor and ZigBee communication system (IEEE802.15), as well as RS232 serial standard. Part of the project was done in the SOPC Builder environment, which gave the designer flexibility and speed to implement the NIOS II-based microprocessor system. To test the I2M implementation, a didactic Industrial Hydraulic Module (MHI-01) was used to simulate two industrial processes to be controlled by the system proposed.

Sleep apnea and automobile accidents: Review of regulation for drivers

Several studies show a crescent association between sleep-disordered breathing, excessive sleepiness and automobile accidents. Many countries already discussed about specific regulations for drivers with these conditions, including questionnaire and/or investigation by a qualified specialist. In Brazil, these discussions have barely begun. In view of that, we suggest some items to be included in our traffic law.