Pension scheme redesign and wealth redistribution between the members and sponsor: the USS rule change in October 2011

The redesign of defined benefit pension schemes usually results in a substantial redistribution of wealth between age cohorts of members, pensioners, and the sponsor. This is the first study to quantify the redistributive effects of a rule change by a real world scheme (the Universities Superannuation Scheme, USS) where the sponsor underwrites the pension promise. In October 2011 USS closed its final salary scheme to new members, opened a career average revalued earnings (CARE) section, and moved to ‘cap and share’ contribution rates. We find that the pre-October 2011 scheme was not viable in the long run, while the post-October 2011 scheme is probably viable in the long run, but faces medium term problems. In October 2011 future members of USS lost 65% of their pension wealth (or roughly £100,000 per head), equivalent to a reduction of roughly 11% in their total compensation, while those aged over 57 years lost almost nothing. The riskiness of the pension wealth of future members increased by a third, while the riskiness of the present value of the sponsor’s future contributions reduced by 10%. Finally, the sponsor’s wealth increased by about £32.5 billion, equivalent to a reduction of 26% in their pension costs.

Caries, gender and socio-economic change in the Xavante Indians from Central Brazil

Background: The oral health conditions of indigenous peoples in Amazonia are closely associated with ecological and dietary changes related to interaction with non-Indians. Aim: The study investigated the incidence of caries in an indigenous community from Central Brazil focusing on gender differences. Subjects and methods: The research was conducted among the Xavante Indians and was based on longitudinal data collected in two surveys (1999 and 2004). The study included 128 individuals, 63 (49.2%) males and 65 (50.8%) females, divided in four age brackets (6-12, 13-19, 20-34, 35-60 years of age). The DMFT (decayed, missing and filled teeth) index and incidences (difference between 1999 and 2004) were calculated for each individual. The proportion of incidence was also calculated. Differences in caries risk between gender and age brackets were compared by parametric and non-parametric tests. Results: There were statistically significant differences in relation to caries incidence between age brackets and gender. The greatest incidence was observed in the 20-34 age bracket, which presented 3.30 new decayed teeth, twice the risk of the 6-12 age bracket (p0.01), chosen as reference. While females in most age groups did not show higher risk for caries when compared to males, there was a 4.04-fold risk in the 20-34 age bracket (p0.01). Conclusion: It is concluded that factors related to the social functions of each sex (gender issues) and differential access to information, health services, and education may help to understand the differences observed in the incidence of caries.

Change in Managers’ Conceptions of Human Resources in Organisations : Outcomes of an Intervention

Managers’ conceptions of the importance of human resources are essential for creating ‘attractive workplaces’. This paper examines an intervention method aimed at creating insight among managers in small and medium-sized enterprises (SMEs) concerning the potential of human resources. The intervention method is called Focus Group Attractive Work (FGAW) and was conducted at eight enterprises in Sweden. Based on the analysis, it is concluded that the intervention method seems to be thought-provoking and to facilitate changes in managers’ conceptions of the importance of human resources, albeit to different degrees. 

Initiation into engineering : stability and change in gender orders

This article examines processes of doing gender during the initiation of students into engineering programs at university level in Sweden. The article draws on interviews with students, focusing on their understandings of gender. The aim is to explore difficulties with and challenges to traditional gender roles in an academic male dominated arena, by using theories of doing and undoing gender. The empirical material reveals the initiation period or ‘reception’ as a phenomenon both reinforcing and challenging traditional orders. The attempts to challenge norms meet resistance, revealing two paradoxes and one dilemma. In the first paradox the formal purpose of the reception (inclusion) is partly at odds with its informal consequence (exclusion of deviations). The second paradox concerns the contradictory effects of the reception. Even though the reception ensures participation of women, it reinforces existing hierarchies including gender inequality. This results in a dilemma, since in order to protect individual safety, there is a taboo on harassing women which then reproduces stable gender stereotypes. So while harassment taints the respect senior students must earn during the reception, the fact that female students exist in the engineering field challenges the established order and opens the way for change.

Evaluating the existence of structural change in the brazilian term structure of interest: evidence based on cointegration models with structural break

This paper investigates whether there is evidence of structural change in the Brazilian term structure of interest rates. Multivariate cointegration techniques are used to verify this evidence. Two econometrics models are estimated. The rst one is a Vector Autoregressive Model with Error Correction Mechanism (VECM) with smooth transition in the deterministic coe¢ cients (Ripatti and Saikkonen [25]). The second one is a VECM with abrupt structural change formulated by Hansen [13]. Two datasets were analysed. The rst one contains a nominal interest rate with maturity up to three years. The second data set focuses on maturity up to one year. The rst data set focuses on a sample period from 1995 to 2010 and the second from 1998 to 2010. The frequency is monthly. The estimated models suggest the existence of structural change in the Brazilian term structure. It was possible to document the existence of multiple regimes using both techniques for both databases. The risk premium for di¤erent spreads varied considerably during the earliest period of both samples and seemed to converge to stable and lower values at the end of the sample period. Long-term risk premiums seemed to converge to inter-national standards, although the Brazilian term structure is still subject to liquidity problems for longer maturities.

Social entrepreneurship practices and social change In Brazil: a qualitative study in three non-governmental organizations

Social Entrepreneurship (SE) has attracted growing interest from a wide variety of actors over the last 30 years, especially due to a general agreement that it could be an important tool for tackling many of the world’s social ills. In the academic sphere, this growing interest did not translate into a matured field of study. Quite the opposite, a quick look at this literature makes it evident that: SE has been consistently subjected to numerous theoretical discussions and disagreements, especially over the definition of the concept of SE which is often based on a taken-for-granted notion of social change; it has been more systematically investigated in restricted contexts, often leaving aside so called developing/emerging countries like Brazil and especially lacking in-depth qualitative studies; SE literature lags behind SE practices and few studies focus on how SE actually occurs in a daily and bottom-up manner. In order to address such gaps, this thesis examines how social entrepreneurship practices accomplish social change in the context of Brazil. In this investigation I conducted an inductive practice-based, qualitative/ethnographic study in three Non-Governmental Organizations (NGOs) located in different cities in the Brazilian state of São Paulo. Data collection lasted from February 2014 until March 2015 and was mainly done through participant observations and through in-depth unstructured conversations with research participants. Secondary data and documents were also collected whenever available. The participants of this study included a variety of the studied organizations’ stakeholders: two founders, volunteers, employees, donors and beneficiaries. Observation data was kept in fieldnotes, conversations were recorded whenever possible and were later transcribed. Data was analyzed through an iterative thematic analysis. Through this I identified eight recurrent themes in the data: (1) structure; (2) relationship with other organizational actors (sub-themes: relationship with state, relationship with businesses and relationship with other NGOs); (3) beliefs, spirituality and moral authority; (4) social position of participants, (5) stakeholders’ mobilization and participation; (6) feelings; (7) social purpose; and (8) social change. These findings were later discussed under the lens of practice theory, and in this discussion I argue and show that, in the context studied: (a) even though SE embraces a wide variety of different social purposes, they are intertwined with a common notion of social change based on a general understanding and aspiration for social equality; (b) this social change is accomplished in a processual and ongoing manner as stakeholders from antagonistic social groups felt compelled to and participated in SE practices. In answering the proposed research question the contributions of this thesis are: (i) the elaboration a working definition for SE based on its relationship with social change; (ii) providing in-depth empirical evidence which accounts for and explains this relationship; (iii) characterizing SE in the Brazilian context and reflecting upon its transferability to other contexts. This thesis also makes a methodological contribution, for it demonstrates how thematic analysis can be used in practice-based studies.

A high dynamic range method for the direct readout of a dynamic phase change in homodyne interferometers

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

Muscle delta C-13 change in nile tilapia (Oreochromis niloticus) fingerlings fed lants grain-based diets

The effects of grain-based diets from C3 or C4-cycle plants on muscle delta C-13 change process in Nile tilapia (Oreochromis niloticus) fingerlings were investigated. Two groups of sex reversal males Nile tilapia fingerlings were fed with isoproteic (32.0% DP) and isocaloric (3200 kcal DE/kg) diets, differing from each other by their delta C-13. Muscle samples were collected and the carbon isotopic composition was measured. For C4 diet, the formula for the muscle delta C-13 change related to the intake time of a new diet was delta C-13=- 14.88 - 9.2 1 e(-0.0209t) and the half-life (T) of the muscle carbon was 33.2 days. For C3 diet, the formula was delta C-13 = - 25.43 + 8.59e(-0.0533), with T = 13 days. The C3 diet was considered more appropriate based on its palatability and consequent larger food intake than the C4 diet, resulting in an increased muscle delta C-13 change rate. However, for future studies, would be necessary to mix both the C3 and C4 feedstuffs to formulate diets nutritionally appropriated, with contrasting stable isotopes signatures. Tissue delta C-13 change rate is therefore indicated as a promising tool to better understand the biotic and abiotic factors that influence nutrients utilization from the diet and animal growth. (c) 2006 Elsevier B.V. All rights reserved.

Muscle delta C-13 change in Nile tilapia (Oreochromis niloticus): Effects of growth and carbon turnover

The contribution of growth and turnover to the muscle delta C-13 change process was investigated using mathematical models which associate delta C-13 change to time of intake of a new diet or increase in body mass. Two groups of Nile tilapia (Oreochromis niloticus) were fed on diets based on C3 (sigma C-13 = - 25.64 +/- 0.06 parts per thousand) or C4 (delta C-13= -16.01 +/- 0.06 parts per thousand) photosynthetic cycle plants to standardize the muscle delta C-13. After establishing the carbon isotopic equilibrium, fish (mean mass 24.12 +/- 6.79 g) then received the other treatment diet until a new carbon isotopic equilibrium could be established, characterizing T1 (C3-C4) and T2 (C4-C3) treatments. No significant differences were observed in fish productive performance. Good fits were obtained for the models that associated the delta C-13 change to time, resulting in carbon half-life values of 23.33 days for T1 and 25.96 days for T2. Based on values found for the muscle delta C-13 change rate from growth (0.0263 day(-1) and 0.0254 day(-1)) and turnover (0.0034 day(-1) and 0.0013 day(-1)), our results indicate that most of the delta C-13 change could be attributed to growth. The application of model that associated the delta C-13 change to body mass increase seems to produce results with no apparent biological explanation. The delta C-13 change rate could directly reflect the daily ration and growth rate, and consequently the isotopic change rates of carbon and other tissue elements can be properly used to assess different factors that may interfere in nutrient utilization and growth. (c) 2006 Published by Elsevier B.V.

Population dynamics, sex ratio and size at sex change in a protandric simultaneous hermaphrodite, the spiny shrimp Exhippolysmata oplophoroides

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

Change in size-at-maturity of the yellownose skate Dipturus chilensis (Guichenot, 1848) (Elasmobranchii: Rajidae) in the SW Atlantic

Um total de 3518 espécimes (1607 machos e 1911 fêmeas) de Dipturus chilensis foi amostrado. Os machos tiveram comprimentos totais entre 44.0 e 99.0 cm e as fêmeas entre 45.0 e 110.0 cm. A composição de comprimentos totais das capturas agrupadas foi significativamente diferente entre ambos os sexos, sendo as fêmeas maiores do que os machos. A razão sexual favoreceu as fêmeas. O comprimento total em que 50% dos espécimes foram retidos pelo aparelho de pesca foi de 69.0 cm nos machos e de 73.0 cm nas fêmeas. Uma sub-amostra de 124 espécimes (48 machos e 76 fêmeas) foi analisada para avaliação dos parâmetros reprodutivos. Para os machos, o tamanho de 50% de maturidade resultou em 78.5 cm enquanto que para as fêmeas este parâmetro foi estimado em 81.4 cm. Observações preliminares sobre a descrição da cápsula ovígera são também fornecidas.

A seasonally dependent change in the distribution and physiological condition of Caiman crocodilus yacare in the Paraguay River Basin

The distribution and physiological condition of 116 Caiman crocodilus yacare was assessed over one year in the Southern Pantanal. Body mass and intermediary plasma metabolites were measured at three different time periods, representing large differences in the abundance of surface water. During the wet season the study site was completely submerged under water and C. c. yacare were distributed evenly throughout. High levels of [glucose] and [triglyceride] in the plasma indicated regular feeding. As the dry season progressed C. c. yacare became increasingly crowded around the remaining ponds. They showed a reduction in plasma [glucose] and [triglyceride], and an increase in plasma [beta-hydroxy-butyrate], signifying that they were feeding less and utilising fat reserves. At this sampling period, similar to 40% of the male C. c. yacare that were > 10 years old inhabited dry grassland and did not have access to water. These animals were significantly lighter than males of a similar length that had immediate water access, and plasma [uric acid] indicated that they had not fed for a long time and were metabolising tissue proteins. Essentially, the adult male C. c. yacare that inhabited dry grassland were in a state of energy deficiency. This was so severe in some animals that recovery seemed unlikely. The study suggests that fluctuations in the abundance of surface ground water may influence the size and structure of the C. c. yacare population in the Pantanal.