The influence of the tag-along rights in the value of companies: an event study of the effects on the market and service companies

The aim of this work is to check the effect of granting tag-along rights to stockholders by analyzing the behavior of the return of the stock. To do so we carried out event studies for a group of 21 company stocks, divided into service provider companies and others, who granted this right to their stockholders after Law 10,303 was passed in October, 2001. In the test we used two models for estimating abnormal returns: adjusted to the market and adjusted to the risk and market. The results of the tests we carried out based on these models did not capture abnormal returns (surpluses), telling us that the tag-along rights did not affect the pattern of daily returns of the stocks of companies traded on BOVESPA (The Sao Paulo Stock Exchange). We did not expect this result because of the new corporate governance practices adopted by companies in Brazil.

Do insiders get abnormal returns? : event studies on the trades of insiders of the firms with differentiated corporate governance of the São Paulo stock exchange

The subject insider trading is controversial. This paper presents series of event studies carried through on the trades with stocks of the firm carried by insiders with the objective to detect abnormal returns, based on the access to privileged information. The sample is composed by trades performed by insiders of the companies with stocks negotiated in the São Paulo Stock Exchange, that are classified as firms with differentiated corporate governance. Indication that trades performed by insiders resulted in abnormal returns compared to the statistically significant expected ones, as in the purchases of common shares; or for selling of preferred stocks.

Vertical distribution of benthic invertebrate larvae during an upwelling event along a transect off the tropical Brazilian continental margin

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

Improving photoprotection of Beauveria bassiana conidia for biological control of the cactus pest Dactylopius opuntiae in the semiarid region northeast of Brazil

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Femur biometry, densitometry and chemical composition from Moxoto goats supplemented with concentrate in a semiarid region

The aim of study was to investigate if different intake levels of concentrate (supplementation levels) would have an influence on chemical composition, biometric aspects and bone mineral density (BMD) of femurs from Moxoto growing goats in the Brazilian semiarid region. Thirty-two castrated kids (15.69 +/- 0.78 kg initial BW) were used allocated randomly to one of the four levels of supplementation (SL) (treatments groups: 0: 5; 10 and 15 g/kg BW). When the animals of treatment group 15 g/kg BW reached 25 kg BW, the animals in the others treatments groups were also slaughtered. The increase SL resulted in linear increase (P<0.001) in the performance of animals as well as in fresh and dry weight of the femur and decrease of relative weight of the femur. The dry matter contents (g/kg) of femur increased linearly, however, the amounts of MM, ether extract, Ca, P. Mg, Na and K were not affected by the treatments. The values found in this study ranged from 134.84 to 155.90g of Ca, 48.14 to 55.95g of P. 1.69 to 1.87g of Mg, 2.87 to 3.24g of Na and 1.42 to 1.61 g of K/kg of bone in natura for animals with smaller and higher slaughter weight, respectively. The biometric and densitometric variables increased linearly with increasing treatments, except for the thickness of the sponge layer of the proximal and distal epiphysis and BMD measured in the distal epiphysis. The supplementation with concentrate did not affect the chemical composition of the femur, although it has positively influenced the structure and the bone mineral density. A BMD estimated via radiographic bone aluminum equivalent did not have correspondence with bone mineral content measured chemically. (C) 2011 Elsevier BM. All rights reserved.

Investigação dos processos hidrossedimentológicos em parcela experimental no semi-árido potiguar

In northeastern semiarid, seasonality on precipitation temporal distribution, high intensity storm events and inadequate management of native vegetation can promote soil erosion. Vegetation removal causes soil surface exposure, reduces soil water storage capacity and can be the source degradation processes. In this context, this approach aims to analyze water and soil erosion processes on a 250 m2 undisturbed experimental plot with native vegetation, slope 2.5% by using 2006 and 2007 monitoring data. The site was instrumented to monitor rainfall, overland flow runoff and erosion by using a 5 m³ tank downstream the plot. Soil erosion monitoring was made by transported sediment and organic matter collection after each event. Field infiltration experiments were made at 16 points randomly distributed within the plot area by using a constant head infiltrometer during drought and rainy seasons, respectively. Infiltration data revealed high spatial and temporal variability. It was observed that during the beginning of the rainy period, 77% of the events showed runoff coefficient less than 0.05. As the rainy season began, soil water increase produced annual species germination. High intensity storms resulted in runoff coefficients varying between 0.33 and 0.42. Once the annual species was established, it was observed that approximately 39% of the events produced no runoff, which reflects an increase on soil water retention capacity caused by the vegetation. A gradual runoff reduction during the rainy season emphasizes the effect of vegetative density increase. Soil erosion observed data allowed to fit an empirical relationship involving soil loss and precipitation height, which was used to analyze the plot installation impact on soil erosion. Observed soil loss in 2006 and 2007 was 230 Kg/ha and 54 Kg/ha, respectively

Influência do uso e ocupação de solo na qualidade de água de um reservatório mesotrófico na região semiárida tropiocal

In the semiarid region of northeastern of Brazil, the reservoirs are vulnerable to water level seasonal fluctuations, they re related to the hydrological cycle. The rain periods are irregular and there are long periods of drought that increases eutrophication process. That happens because of the water level s reduction and nutrient concentration. The Boqueirao, located in northeastern Brazil , is a mesotrophic reservoir. The reservoir is naturally susceptible to deterioration of water quality. This happens because of the potential diffuse sources arising from the use and occupation of the basin, associated with shallow soil caatinga biome and highly vulnerable to erosion. This study aimed to analyze the influence of the use and occupation of the area around and the water quality of the watershed. A study of the area around the Boqueirão was performed, taking the potentially polluting activities. Limnological variables were monitored monthly in 3 points of the reservoir to assess the water quality. Was evidenced an event of prolonged drought, with rainfall below the historical average for the year of study. By the index of water quality, the watershed was classified as " good " during the whole year of 2012. According to the trophic index adopted the reservoir is characterized as mesotrophic. The main anthropogenic impacts identified in the soil were arboreal selective logging, mining, diffuse contribution of residues from agricultural and livestock activities. The lack of precipitation and the degradation of the surrounding area, affect negatively the water quality, requiring immediate control to prevent degradation of the watershed . Although there wasn t a majority polluting activity in the region. The total of several impacting activities, the high susceptibility of the soil and the selective clearing of caatinga vegetation can accelerate the natural process of eutrophication in the water body

Os reservatórios eutrofizados da região tropical semiárida atuam como emissores ou como sequestradores de dióxido de carbono?

The aquatic ecosystems can play a role as carbon-dioxide-source or carbon-dioxide-sink systems due to the high predominance of heterotrophic or autotrophic metabolism. The primary production can strongly affect the carbon balance (CO2) through the consumption of carbon dioxide in the photosynthesis, especially in eutrophic environment, acting as a carbon sink. The present study tested the hypothesis that the eutrophic reservoirs in tropical semi-arid region are carbon dioxide-sink systems due to the high primary productivity presented in these systems. Five Brazilian reservoirs from the semi-arid in the northeast region were monitored monthly during four years (2010 to 2013) with a prolonged drought event identified during the study. The results showed an increasing level of eutrophication over the period of prolonged drought, with the predominance of autotrophy. Significant negative correlations were observed between the partial pressure of CO2 (pCO2) (p<0,001) and chlorophyll-a in the Boqueirão, Passagem das Traíras, Dourado and Gargalheiras reservoirs, showing a pattern of the carbon dioxide-sink systems. However, this pattern was not found in Cruzeta reservoir. In summary, in the tropical semi-arid region, hydrological and morphometric variables can lead to different behaviors of the water-supply reservoirs on the carbon metabolism. The eutrophic reservoirs evaluated showed a negative relationship between pCO2 and Chl-a, which suggests that these water bodies show an autotrophic metabolism and behave as carbon dioxide- sink systems

Loss of Expression and Function of SOCS3 Is an Early Event in HNSCC: Altered Subcellular Localization as a Possible Mechanism Involved in Proliferation, Migration and Invasion

Background: Suppressor of cytokine signaling 3 (SOCS3) is an inducible endogenous negative regulator of signal transduction and activator of transcription 3 (STAT3). Epigenetic silencing of SOCS3 has been shown in head and neck squamous cell carcinoma (HNSCC), which is associated with increased activation of STAT3. There is scarce information on the functional role of the reduction of SOCS3 expression and no information on altered subcellular localization of SOCS3 in HNSCC.Methodology/Principal Findings: We assessed endogenous SOCS3 expression in different HNSCC cell lines by RT-qPCR and western blot. Immunofluorescence and western blot were used to study the subcellular localization of endogenous SOCS3 induced by IL-6. Overexpression of SOCS3 by CMV-driven plasmids and siRNA-mediated inhibition of endogenous SOCS3 were used to verify the role of SOCS3 on tumor cell proliferation, viability, invasion and migration in vitro. In vivo relevance of SOCS3 expression in HNSCC was studied by quantitative immunohistochemistry of commercially-available tissue microarrays. Endogenous expression of SOCS3 was heterogeneous in four HNSCC cell lines and surprisingly preserved in most of these cell lines. Subcellular localization of endogenous SOCS3 in the HNSCC cell lines was predominantly nuclear as opposed to cytoplasmic in non-neoplasic epithelial cells. Overexpression of SOCS3 produced a relative increase of the protein in the cytoplasmic compartment and significantly inhibited proliferation, migration and invasion, whereas inhibition of endogenous nuclear SOCS3 did not affect these events. Analysis of tissue microarrays indicated that loss of SOCS3 is an early event in HNSCC and was correlated with tumor size and histological grade of dysplasia, but a considerable proportion of cases presented detectable expression of SOCS3.Conclusion: Our data support a role for SOCS3 as a tumor suppressor gene in HNSCC with relevance on proliferation and invasion processes and suggests that abnormal subcellular localization impairs SOCS3 function in HNSCC cells.

First measurement of hadronic event shapes in pp collisions at root s=7 TeV

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

THERMAL RADIATION FROM A FLUCTUATING EVENT HORIZON

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Measurement of the underlying event in the Drell-Yan process in proton-proton collisions at root s=7 TeV

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Effects of Transcranial Magnetic Stimulation on the Cognitive Event-Related Potential P300: A Literature Review

The objective of this study was to perform a systematic review regarding the effects of transcranial magnetic stimulation (TMS) on the cognitive event-related potential P300. A search was performed of the PubMed database, using the keywords "transcranial magnetic stimulation" and "P300." Eight articles were selected and, after analysis of references, one additional article was added to the list. We found the comparison among studies to be difficult, as the information regarding the effects of TMS on P300 is both scarce and heterogeneous with respect to the parameters used in TMS stimulation and the elicitation of P300. However, 7 of 9 studies found positive results. New studies need to be carried out in order to understand the contribution of these variables and others to the alteration in the latency and amplitude of the P300 wave.

Predation of the Buffy-fronted Seedeater Sporophila frontalis (Aves: Emberizidae) on Merostachys neesii (Poaceae: Babusoideae) seeds during a masting event in the Atlantic forest

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Widespread Amazon forest tree mortality from a single cross-basin squall line event

Climate change is expected to increase the intensity of extreme precipitation events in Amazonia that in turn might produce more forest blowdowns associated with convective storms. Yet quantitative tree mortality associated with convective storms has never been reported across Amazonia, representing an important additional source of carbon to the atmosphere. Here we demonstrate that a single squall line (aligned cluster of convective storm cells) propagating across Amazonia in January, 2005, caused widespread forest tree mortality and may have contributed to the elevated mortality observed that year. Forest plot data demonstrated that the same year represented the second highest mortality rate over a 15-year annual monitoring interval. Over the Manaus region, disturbed forest patches generated by the squall followed a power-law distribution (scaling exponent alpha = 1.48) and produced a mortality of 0.3-0.5 million trees, equivalent to 30% of the observed annual deforestation reported in 2005 over the same area. Basin-wide, potential tree mortality from this one event was estimated at 542 +/- 121 million trees, equivalent to 23% of the mean annual biomass accumulation estimated for these forests. Our results highlight the vulnerability of Amazon trees to wind-driven mortality associated with convective storms. Storm intensity is expected to increase with a warming climate, which would result in additional tree mortality and carbon release to the atmosphere, with the potential to further warm the climate system. Citation: Negron-Juarez, R. I., J. Q. Chambers, G. Guimaraes, H. Zeng, C. F. M. Raupp, D. M. Marra, G. H. P. M. Ribeiro, S. S. Saatchi, B. W. Nelson, and N. Higuchi (2010), Widespread Amazon forest tree mortality from a single cross-basin squall line event, Geophys. Res. Lett., 37, L16701, doi:10.1029/2010GL043733.