The strategies pursued by Mexican firms in their efforts to become global players

Includes bibliography

Os títulos de crédito eletrônico e a execução da duplicata virtual

Pós-graduação em Direito - FCHS

Coação administrativa: limites e responsabilidades

Pós-graduação em Direito - FCHS

Experiences gained from GDDS compliance in the English-speaking Caribbean

Includes bibliography

Capital flows to Latin America: second quarter 2003

Includes bibliography

Abertura de capital como estratégia de gestão jurídica e financeira de empresas do setor sucroalcooleiro

Pós-graduação em Direito - FCHS

Más allá de los controles de capital: regulación de los mercados de derivados en moneda extranjera en la República de Corea y el Brasil después de la crisis financiera mundial

En el marco de la gestión de los flujos de capital, algunas economías emergentes han afrontado, después de la crisis mundial, dilemas en términos de políticas económicas relacionados con las operaciones de instrumentos financieros, en un contexto de abundante liquidez actual en las economías avanzadas. Sin embargo, la regulación de los derivados en moneda extranjera en las economías emergentes no ha sido suficientemente tratada ni en la literatura, ni por las instituciones financieras. Aquí se analizan las medidas aplicadas en el Brasil y la República de Corea. Primero, se constata que la amplitud de las regulaciones a las operaciones de derivados en moneda extranjera depende de los agentes y del tipo de contrato. Segundo, se requiere una institucionalidad interna eficaz para la formulación y aplicación de regulaciones. Tercero, los países no debieran limitar su margen normativo mediante acuerdos multilaterales o bilaterales, y dejar espacio para la regulación financiera interna.

Condições de funcionamento de escolas do campo: em busca de indicadores de custo-aluno-qualidade

O estudo foi realizado em 2 (duas) escolas do campo do município de Bujaru pertencente à microrregião de Castanhal na mesorregião do Nordeste Paraense. Seu objetivo foi identificar e analisar as condições de funcionamento de escolas do campo, visando propor indicadores de custo-aluno-qualidade para esse tipo de escola. A seleção das escolas se orientou pelos seguintes critérios: distância da sede do município; quanto ao tamanho; classificação em unidocente ou pluridocentes; número de professores, número de alunos; níveis de ensino oferecidos e da região em que as mesmas estão inseridas. Para a obtenção das informações foram realizadas entrevistas com: diretores; professores; pais/representantes da comunidade; e alunos. Além das entrevistas, foram utilizados formulários e observação em lócus. Os eixos de análise tomaram como questões norteadoras: as condições de funcionamento das e os seus principais problemas e necessidades e o que dizem os sujeitos que trabalham e estudam nas/as escolas do campo sobre os indicadores necessários para uma educação do campo de qualidade? Após análise dos dados, concluímos que os problemas enfrentados por professores, alunos, pais e gestores que atuam nas escolas do campo estão relacionados principalmente: a atuação em classes multisseriadas; falta de mobiliário, equipamento e materiais didáticos; falta de transporte escolar; condições precárias de infra-estrutura e falta de pessoal docente. Quanto à questão dos indicadores de qualidade, os sujeitos apontaram os seguintes fatores como fundamentais para melhorar a qualidade do ensino nessas escolas: infra-estrutura adequada, (com mobiliários, bibliotecas, laboratórios, equipamentos e material didático); contração de pessoal (professores, serventes, merendeiras, vigias e secretária); qualificação e valorização do professor; transporte e merenda escolar. O trabalho apresenta um leque de questões que podem explicitar e compor as possíveis dimensões e indicadores de qualidade, mas que não são generalizáveis para um conjunto maior de escolas. Evidentemente, que há regularidades, similitudes e aspectos que são comuns e que devem ser considerados para escolas localizadas no campo. De modo geral verificou-se que a definição de um custo-aluno-qualidade na educação, sobretudo, na educação do campo, continua a ser um desafio, especialmente porque tal discussão traz à tona a complexidade, as tensões e as contradições do fenômeno educativo em um país marcado pela desigualdade.

Transmissão congênita de toxoplasma gondii (Nicolle & Manceaux, 1909), em cabras experimentalmente reinfectadas

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

Mobiliários adaptados para pessoas com paralisia cerebral: um levantamento das teses e dissertações produzidas no Brasil

The Assistive Technology makes the lives of people without disabilities more practical, but for people with disabilities it can make things possible. For these individuals can provide the conditions, making their limitations are not obstacles to their social and personal empowerment, and may contribute to their effective participation in tasks that were previously impossible, such as remaining seated correctly. A segment on which the necessary assistive technology works, is the adaptation of furniture such as chairs, tables, chairs-to-wheels for individuals with disabilities, as well as cerebral palsy. The study aimed to conduct a survey and brief description of theses and dissertations produced in Brazil on furniture adapted for students with cerebral palsy. We made searching in databases of libraries of major universities and federal state national banks, theses and dissertations. Nine studies were selected for description. It was concluded that there is a considerable array of professionals, both in engineering as the field of rehabilitation, to contribute in the adaptation, creation and even the manufacture of furniture for children with cerebral palsy and that the securities most studied are the chairs and their components.

Hibridismo cultural: o imaginário europeu na construção da sexualidade feminina do primeiro século de colonização brasileira

The aim of this study is to investigate and analyze the conceptions of sexuality and female sexual behavior and conduct, formed from the merger of information and securities purchased under the eyes, rules and guidelines established relations with the Holy Office during his visit to Inquisitorial Brazil in the late sixteenth century. It is a survey of historical methodology in which we used as the exploratory research and literature. In the sixteenth century the Church increases the pressure to change the sexual mores that were free in the Middle Ages, a fact which influences the rules and regulations that are adopted by the Holy Office regarding the person's sex life. The first structure was based on Brazilian sexual alliance between Indians and settlers, which led to sugar, by the Portuguese, the customs of the land, which included sexual practices free since the Indians were out of Christian influence. Supported by the absence of white women, the settlers took them wives of the earth, usually more than one, creating conflict with the Jesuits who condemned Indian polygamy. In this context, in 1591, landed on Brazilian soil Heitor Furtado de Mendonca, and with it, the First Visitation of the Holy Office to investigate, arguing, exploring feelings and behaviors, to discover the true facts, finally, to demonstrate the errors Faith and punish them with the rigor of ecclesiastical law. His passing opens us to visualize traces of sexuality in the current "Tropic" a racist, misogynist world where black women and degraded land could be subject to the wishes of the white man, with whom he could mate at will. Alone and forgotten, women have not found the colony margin to denounce or to speak and were stigmatized by the look of travelers and writers have been through here.

Mobiliário em habitações de caráter social: avaliação de sua adequação espacial em núcleos habitacionais na cidade de Marília - SP

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

CARBON MARKET AND INSTITUTIONS: OPPORTUNITIES IN THE SEARCH OF A NEW MODEL FOR DEVELOPMENT

Seeking alternatives for the economic system to face the several crises it has gone through lately (electrical power, cultural, financing and technological) brought about a new market involving the Kyoto Protocol signatory countries: the carbon market. The present article aims at assessing the carbon market institutional issue in Brazil by identifying the risks and opportunities inherent to the institutional agent characteristics and to that market rules. The research methodology was bibliographic and based on the analysis of the Securities and Exchange Commission of Brazil (Comissao de Valores Mobiliarios and Bolsa Mercantil de Valores) contents. Its theoretical basis rests on concepts of the institution and the new institutional economy. The results show that in spite of the risks and institutional problems it involves, the carbon market is promising due to the opportunities create by new technologies and energies developed to achieve and sustain the capitalist system new cycle, addressed to produce a clean development.

Discretionary-based disclosure: evidence from the Brazilian market

The primary objective of this paper is to identify the factors that explain Brazilian companies level of voluntary disclosure. Underpinning this work is the Discretionary-based Disclosure theory. The sample is composed of the top 100 largest non-financial companies listed in the Bolsa de Valores de São Paulo (Brazilian Securities, Commodities, and Futures exchange - BOVESPA). Information was gathered from Financial Statements for the years ending in 2006, 2007, and 2008, with the use of content analysis. A disclosure framework based on 27 studies from these years was created, with a total of 92 voluntary items divided into two dimensions: economic (43) and socio-environmental (49). Based on the existing literature, a total of 12 hypotheses were elaborated and tested using a panel data approach. Results evidence that: (a) Sector and Origin of Control are statistically significant in all three models tested: economic, socio-environmental, and total; (b) Profitability is relevant in the economic model and in the total model; (c) Tobin s Q is relevant in the socio-environmental model and in the total disclosure model; (d) Leverage and Auditing Firm are only relevant in the economic disclosure model; (e) Size, Governance, Stock Issuing, Growth Opportunities and Concentration of Control are not statistically significant in any of the three models.

Securitization and Special Purpose Vehicles in an International Setting: a Systemic View

The present work tries to display a comprehensive and comparative study of the different legal and regulatory problems involved in international securitization transactions. First, an introduction to securitization is provided, with the basic elements of the transaction, followed by the different varieties of it, including dynamic securitization and synthetic securitization structures. Together with this introduction to the intricacies of the structure, a insight into the influence of securitization in the financial and economic crisis of 2007-2009 is provided too; as well as an overview of the process of regulatory competition and cooperation that constitutes the framework for the international aspects of securitization. The next Chapter focuses on the aspects that constitute the foundations of structured finance: the inception of the vehicle, and the transfer of risks associated to the securitized assets, with particular emphasis on the validity of those elements, and how a securitization transaction could be threatened at its root. In this sense, special importance is given to the validity of the trust as an instrument of finance, to the assignment of future receivables or receivables in block, and to the importance of formalities for the validity of corporations, trusts, assignments, etc., and the interaction of such formalities contained in general corporate, trust and assignment law with those contemplated under specific securitization regulations. Then, the next Chapter (III) focuses on creditor protection aspects. As such, we provide some insights on the debate on the capital structure of the firm, and its inadequacy to assess the financial soundness problems inherent to securitization. Then, we proceed to analyze the importance of rules on creditor protection in the context of securitization. The corollary is in the rules in case of insolvency. In this sense, we divide the cases where a party involved in the transaction goes bankrupt, from those where the transaction itself collapses. Finally, we focus on the scenario where a substance over form analysis may compromise some of the elements of the structure (notably the limited liability of the sponsor, and/or the transfer of assets) by means of veil piercing, substantive consolidation, or recharacterization theories. Once these elements have been covered, the next Chapters focus on the regulatory aspects involved in the transaction. Chapter IV is more referred to “market” regulations, i.e. those concerned with information disclosure and other rules (appointment of the indenture trustee, and elaboration of a rating by a rating agency) concerning the offering of asset-backed securities to the public. Chapter V, on the other hand, focuses on “prudential” regulation of the entity entrusted with securitizing assets (the so-called Special Purpose vehicle), and other entities involved in the process. Regarding the SPV, a reference is made to licensing requirements, restriction of activities and governance structures to prevent abuses. Regarding the sponsor of the transaction, a focus is made on provisions on sound originating practices, and the servicing function. Finally, we study accounting and banking regulations, including the Basel I and Basel II Frameworks, which determine the consolidation of the SPV, and the de-recognition of the securitized asset from the originating company’s balance-sheet, as well as the posterior treatment of those assets, in particular by banks. Chapters VI-IX are concerned with liability matters. Chapter VI is an introduction to the different sources of liability. Chapter VII focuses on the liability by the SPV and its management for the information supplied to investors, the management of the asset pool, and the breach of loyalty (or fiduciary) duties. Chapter VIII rather refers to the liability of the originator as a result of such information and statements, but also as a result of inadequate and reckless originating or servicing practices. Chapter IX finally focuses on third parties entrusted with the soundness of the transaction towards the market, the so-called gatekeepers. In this respect, we make special emphasis on the liability of indenture trustees, underwriters and rating agencies. Chapters X and XI focus on the international aspects of securitization. Chapter X contains a conflicts of laws analysis of the different aspects of structured finance. In this respect, a study is made of the laws applicable to the vehicle, to the transfer of risks (either by assignment or by means of derivatives contracts), to liability issues; and a study is also made of the competent jurisdiction (and applicable law) in bankruptcy cases; as well as in cases where a substance-over-form is performed. Then, special attention is also devoted to the role of financial and securities regulations; as well as to their territorial limits, and extraterritoriality problems involved. Chapter XI supplements the prior Chapter, for it analyzes the limits to the States’ exercise of regulatory power by the personal and “market” freedoms included in the US Constitution or the EU Treaties. A reference is also made to the (still insufficient) rules from the WTO Framework, and their significance to the States’ recognition and regulation of securitization transactions.