Tax Cost of Investment Projects: the case of ICMS credits

This article discusses the impact on the profitability of firms under Complementary Law 102/2000 (which abrogated the Law 89/96 - Kandir Law) allowing the appropriation of ICMS credits, due to investment in fixed assets goods, at a ratio of 1/48 per month. The paper seeks to demonstrate how this new system - which resulted in the transformation of the ICMS as a value added tax (VAT) consumption-type to an income-type - leads to a loss of approximately 30% of the value of credits to be recovered and the effect it generates on the cost of investment and the profits for small, medium and large firms. From the methodological point of view, it is a descriptive and quantitative research, which proceeded in three stages. Initially, we have obtained estimated value of net sales and volume of investments, based on report Painel de Competitividade prepared by the Federacao das Indtustrias do Estado de Sao Paulo (Fiesp/Serasa). Based on this information, it was possible to obtain estimates of the factors of generation of debits and credits for ICMS, using the model Credit Control of Fixed Assets (CIAP). Finally, we have calculated three indicators: (i) present value of debt recovery/value of credits, (ii) present value of debt recovery / investment value, (iii) present value of debt recovery / sales profitability. We have conclude that the system introduced by Complementary Law 102/2000 implicates great opportunity cost for firms and that legislation should be reviewed from this perspective, aiming to ensure lower costs associated with investment projects.

Leukotrienes Are Potent Adjuvant during Fungal Infection: Effects on Memory T Cells

Leukotrienes (LTs) are potent lipid mediators involved in the control of host defense. LTB(4) induces leukocyte accumulation, enhances phagocytosis and bacterial clearance, and increases NO synthesis. LTB(4) is also important in early effector T cell recruitment that is mediated by LTB(4) receptor 1, the high-affinity receptor for LTB(4). The aims of this study were to evaluate whether LTs are involved in the secondary immune response to vaccination in a murine model of Histoplasma capsulatum infection. Our results demonstrate that protection of wild-type mice immunized with cell-free Ags from H. capsulatum against histoplasmosis was associated with increased LTB(4) and IFN-gamma production as well as recruitment of memory T cells into the lungs. In contrast, cell-free Ag-immunized mice lacking 5-lipoxygenase(-/-), a critical enzyme involved in LT synthesis, displayed a marked decrease on recruitment of memory T cells to the lungs associated with increased synthesis of TGF-beta as well as IL-10. Strikingly, these effects were associated with increased mortality to 5-lipoxygenase(-/-)-infected mice. These data establish an important immunomodulatory role of LTs, in both the primary and secondary immune responses to histoplasmosis. The Journal of Immunology, 2008,181: 8544-8551.

ATP-dependent K+ channels in renal ischemia reperfusion injury

ATP-dependent K+ channels (K-ATP) account for most of the recycling of K+ which enters the proximal tubules cell via Na, K-ATPase. In the mitochondrial membrane, opening of these channels preserves mitochondrial viability and matrix volume during ischemia. We examined KATP channel modulation in renal ischemia-reperfusion injury (IRI), using an isolated perfused rat kidney (IPRK) model, in control, IRI, IRI + 200 muM diazoxide (a K-ATP opener), IRI + 10 muM glibenclamide (a K-ATP blocker) and IRI + 200 muM diazoxide + 10 muM glibenclamide groups. IRI was induced by 2 periods of warm ischemia, followed by 45 min of reperfusion. IRI significantly decreased glomerular filtration rate (GFR) and increased fractional excretion of sodium (FENa) (p < 0.01). Neither diazoxide nor glibenclamide had an effect on control kidney function other than an increase in renal vascular resistance produced by glibenclamide. Pretreatment with 200 muM diazoxide reduced the postischemic increase in FENa (p < 0.05). Adding 10 muM glibenclamide inhibited the diazoxide effect on postischemic FENa (p < 0.01). Histology showed that kidneys pretreated with glibenclamide demonstrated an increase in injure in the thick ascending limb of outer medulla (p < 0.05). Glibenclamide significantly decreased post ischemic renal vascular resistance (p < 0.05). but had no significant effect on other renal function parameters. Our results suggest that sodium reabsorption is improved by K-ATP activation and blockade of K-ATP channels during IRI has an injury enhancing effect on renal epithelial function and histology. This may be mediated through K-ATP modulation in cell and or mitochondrial inner membrane.

A class B switch-mode assisted linear amplifier

A switch-mode assisted linear amplifier (SMALA) combining a linear (Class B) and a switch-mode (Class D) amplifier is presented. The usual single hysteretic controlled half-bridge current dumping stage is replaced by two parallel buck converter stages, in a parallel voltage controlled topology. These operate independently: one buck converter sources current to assist the upper Class B output device, and a complementary converter sinks current to assist the lower device. This topology lends itself to a novel control approach of a dead-band at low power levels where neither class D amplifier assists, allowing the class B amplifier to supply the load without interference, ensuring high fidelity. A 20 W implementation demonstrates 85% efficiency, with distortion below 0.08% measured across the full audio bandwidth at 15 W. The class D amplifier begins assisting at 2 W, and below this value, the distortion was below 0.03%. Complete circuitry is given, showing the simplicity of the additional class D amplifier and its corresponding control circuitry.

A Sensorless PMDC Motor Speed Controller with a Logical Overcurrent Protection

A method to control the speed or the torque of a permanent-magnet direct current motor is presented. The rotor speed and the external torque estimation are simultaneously provided by appropriate observers. The sensorless control scheme is based on current measurement and switching states of power devices. The observer’s performances are dependent on the accurate machine parameters knowledge. Sliding mode control approach was adopted for drive control, providing the suitable switching states to the chopper power devices. Despite the predictable chattering, a convenient first order switching function was considered enough to define the sliding surface and to correspond with the desired control specifications and drive performance. The experimental implementation was supported on a single dsPIC and the controller includes a logic overcurrent protection.

Controlo clássico vs. preditivo na regulação de frequência em sistemas de potência

Dissertação para obtenção do grau de Mestre em Engenharia Electrotécnica Ramo Automação e Electrónica Industrial

Application of fractional controllers for quad rotor

This paper studies the application of fractional algorithms in the control of a quad-rotor rotorcraft. The development of a flight simulator provide the evaluation of the controller algorithm. Several basic maneuvers are investigated, namely the elevation and the position control.

Consumer energy management system with integration of smart meters

This paper develops an energy management system with integration of smart meters for electricity consumers in a smart grid context. The integration of two types of smart meters (SM) are developed: (i) consumer owned SM and (ii) distributor owned SM. The consumer owned SM runs over a wireless platform - ZigBee protocol and the distributor owned SM uses the wired environment - ModBus protocol. The SM are connected to a SCADA system (Supervisory Control And Data Acquisition) that supervises a network of Programmable Logic Controllers (PLC). The SCADA system/PLC network integrates different types of information coming from several technologies present in modern buildings. The developed control strategy implements a hierarchical cascade controller where inner loops are performed by local PLCs, and the outer loop is managed by a centralized SCADA system, which interacts with the entire local PLC network. In order to implement advanced controllers, a communication channel was developed to allow the communication between the SCADA system and the MATLAB software. (C) 2014 The Authors. Published by Elsevier Ltd. This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/).

Models for pheromone evaluation in Ant Systems for Mobile Ad-hoc networks

On a mobile ad-hoc network environment, where the resources are scarce, the knowledge about the network's link state is essential to optimize the routing procedures. This paper presents a study about different pheromone evaluation models and how they react to possible changes in traffic rate. Observing how the pheromone value on a link changes, it could be possible to identify certain patterns which can indicate the path status. For this study, the behavior of the Ant System evaluation model was compared with a Temporal Active Pheromone model (a biological approach) and a Progressive Pheromone Reduction model with and without a maximum pheromone limit.

Credit risk of financial institutions

A Work Project, presented as part of the requirements for the Award of a Masters Degree in Finance from the NOVA – School of Business and Economics

Child programming: an adequate domain specific language for programming specific robots

Dissertação para obtenção do Grau de Mestre em Engenharia Informática

Petri net based development of globally-asynchronous locally-synchronous distributed embedded systems

Dissertação para obtenção do Grau de Doutor em Engenharia Electrotécnica e de Computadores

Determinants of reelection in Portuguese municipal elections

This Work Project investigates the determinants of reelection using data on the 278 Portuguese mainland municipalities for the period 1976-2009. We implement a logit fixed effect model to control for the municipalities’ unobserved characteristics that remain constant over time. Political variables, such as the vote share of the incumbent’s party in previous election, the number of mayor’s consecutive mandates and abstention rate, are found to be relevant in explaining incumbent’s reelection. Moreover, as to the mayor’s individual characteristics, age and education contribute to explain reelection prospects. We also provide weak evidence that a higher degree of fiscal autonomy increases political turnover and that the good economic prospects of the municipality positively affect reelection. Finally, the residents’ level of education and the size of the municipal population have an explanatory power on mayor’s reelection. We perform several robustness checks to confirm these results.

As práticas comerciais desleais

The following study aims to examine a controversial and relatively unexplored subject within our system: the legal framework on unfair business-to-consumer commercial practices. Given the fact that this subject is based on the Directive 2005/29/EC, we considered to be appropriate to explore, firstly, the background and origin of such normative instrument. Nevertheless, we have centered our analysis on the interpretation of the set rules established by the Portuguese legal system (Law nr 57/2008, March 26th). For this dissertation, we have proposed a model of tripartite approach. Chapter V seeks to shed light on the general clause by analyzing a set of open concepts such as professional diligence, honest market practice, good faith or material distortion of the consumer’s economic behavior. In chapter VI, we will focus on two common types of unfair commercial practices: misleading and aggressive practices. Finally, due to the fact that chapter VII deals with the black list, we have illustrated the listed practices by giving real life examples. Taking into account the indefinite concepts used in the general prohibition and in the misleading and aggressive clauses, it is particularly difficult to demonstrate the unfairness of the professional’s behavior. In the light of this information, we have concluded that the regime fails on achieving its main goal: it does not protect proper and effectively the consumer’s interests.