Working capital management in the value chain of automotive industry

The objective of this Master’s thesis is to examine working capital management in the automotive industry in years 2006-2008. The study is conducted by the analysis of financial statements. The sample consists of 65 companies that represent different stages in the value chain of automotive industry beginning from raw material suppliers and ending to car dealers. Working capital management is studied by the cash conversion cycle (CCC). The results show that the average CCC of the value chain is 67 days. Car manufacturers had the longest CCC, 106 days, whereas the CCC of oil companies was the shortest, 22 days. The findings suggest that the cycle time of working capital usually follows the cycle time of inventories, since the changes in cycle times of accounts receivable and payable compensate each other. Improvements in working capital management could be achieved by sharing more accurate information in the chain for example about inventory levels and order points of customer. It could also be discussed within the automotive industry, if the long credit periods, which tie up working capital, are really needed. New technologies enable faster payments, which would reduce the cash conversion cycles, improve the profitability of companies, and increase the competitiveness of the value chain. Working capital should not be reduced at the expense of value chain partners, because nowadays the competition is rather between the value chains than between the companies. Similar research design is applied earlier to study working capital management in the value chain of pulp and paper industry. Even if the industries and the structures of the chains differ from each other, results were surprisingly similar. In future research, working capital management in other industries’ value chains could still be studied and compared to previous studies. ICT industry, for example, could be an interesting object.

Quantification of incubation, latent and infection periods of Phakopsora pachyrhizi in soybean, according to chronological time and degree-days

ABSTRACT In experiments conducted in a growth chamber, the chronological time and the accumulated degree-days were determined for the duration of incubation, latent and infectious periods of Phakopsora pachyrhizi cultivars BRSGO 7560 and BRS 246 RR. Detached soybean leaflets were placed in gerbox-type acrylic boxes and inoculated with 20 x 103 uredospores/mL. The study was conducted at 12-h photoperiod and temperatures of 10ºC, 15ºC, 22ºC, 25ºC and 30°C for 30 days. Lesions and uredia/cm2were evaluated and the number of uredia per lesion was quantified after the beginning of sporulation. The sporulation potential was also quantified for cultivars BRSGO 7560 and BRS 246 RR. The steps of the infection process can be quantified based on both the chronological time and the accumulated heat. The cultivar BRSGO 7560 produced 4,012.8 spores/cm2 and BRS 246 RR, 7,348.4 uredospores/cm2. The largest number of uredia was produced at 25ºC in both cultivars; however, BRS 246 RR presented 372.7 uredia/cm2 and BRSGO 7560, 231.6 uredia/cm2. At 10ºC and 30°C, leaf infection did not occur in both cultivars.

Biomass of tree species as a response to planting density and interspecific competition

Planting trees is an important way to promote the recovery of degraded areas in the Caatinga region. Experiments (E1, E2, and E3) were conducted in a randomized blocks design, with three, three, and five replicates, respectively. The objectives were to evaluate biomass of the shoots of: a) gliricidia (G) and sabiá (S), as a response to planting density; b) G, S, and neem (N) in competition; c) G, and S in agroforestry. E1 was conducted in split-plots, and planting densities (400, 600, 800, 1000, and 1200 plants ha-1) as subplots. E2 consisted of a factorial comprising the following plots: GGG, NGN, SGS, NNN, GNG, SNS, SSS, GSG, NSN (each letter represents a row of plants). E3 was conducted with G and S in agroforestry experiment. The trees were harvested after 54, 42, and 27 months old, in E1, E2 and E3, respectively. In E1, G presented higher green biomass of the stems and leaf at smaller densities than S, but lower green biomass of branches at most densities. The species did not differ for mean stem dry biomass and leaf dry biomass, but G showed higher branch dry biomass at most densities. Higher planting densities increased green and dry biomass of stems, branches, and leaves in S, but decreased those characteristics in G, with the exception of leaf dry mass, which was not influenced by density. In E2, the behavior of each species was identical in plots containing the same or different species. Griricidia showed the highest green biomass of stems and branches, and the highest values for geren biomass of the leaf were observed for gliricidia and neem. The highest stem, branch, and leaf dry biomass values were obtained for G, S, and N, respectively. In E3, G was superior for stem and leaf green biomass, and for stem and branch dry biomass. There were no differences between species for the other biomass values.

Clinical and blood gasometric parameters during Vaquejada competition

ABSTRACT: Clinical and complementary analysis are good alternatives to evaluate physiological demand in performance horses. The aim of this study was to assess whether the physical effort variation of the three-day Vaquejada competition (a Brazilian form of bullfighting) reflected in clinical and blood gasometric changes. During the competition eight sprints have been performed on the first day (D1), eight on the second (D2) and three on the last one (D3). Ten horses were evaluated by checking heart and respiratory rates and collecting blood samples for use in portable chemistry analyzer. Through that, it was assessed potential of hydrogen ion (pH), carbon dioxide pressure (pCO2), bicarbonate (HCO3-) and titratable base concentration (cBase). Evaluations were carried with resting of at least twenty hours, before physical activity (D0), as control parameter, and up to thirty minutes after each sprint. Clinical parameters have increased on D1, D2 and D3, when compared to D0, which demonstrated the increased demand for substrate and oxygen to the cells.. Blood gasometric trial showed reductions of all variables, most marked between D1 and D2. It was verified less alteration of all clinical and blood gasometric parameters in D3 against D0. We concluded that the change effort between days of competition influenced the clinical and blood gas parameters, demonstrating appropriate physiological response. The data were presented as mean and standard error of the mean (mean ± SEM) obtained in different days. Normality was confirmed by the Kolmogorov-Sminov test and data were compared by one-way ANOVA, followed by post-test Holm-Sidak (GraphPad Prism 2.6 for Windows, GraphPad Software, San Diego, CA, USA). P≤0.05 was considered as statistically significant.

Accounting for competition, governance and accountability during institutional change in not-for-profit and public sector organisations

Purpose The aim of this thesis1 is to analyse theoretically how institutionalisation of competitive tendering2, governance and budgetary policies cannot be taken for granted to lead to accountability among institutional actors3. The nature of an institutionalised management accounting policy, its relevance as a source of power in organisational decision making, and in negotiating inter-organisational relationships, are also analysed. Practical motivation The practical motivation of the thesis is to show how practitioners and policy makers can institutionalise changes which improve the power of management accounting and control systems4 as a mechanism of accountability among institutional actors and in negotiating relationships with other organisations. Theoretical motivation and conceptual approach The theoretical motivation of the thesis is to extend the institutional framework of management accounting change proposed by Burns and Scapens (2000) by using the theories of critical realism, communicative action, negotiated order and the framework of circuits of power. The Burns and Scapens framework needs further theorisation to analyse the relationship between the institutionalisation of management accounting and accountability; and the relevance of management accounting information in negotiating in inter-organisational relationships. Methodology and field studies Field research took place in public and not-for-profit health care organisations and a municipality in Finland from 2008 to 2013. Data were gathered by document analysis, interviews, participation in meetings and observations. Findings The findings are explained in four different essays that show that institutionalisation of competitive tendering, governance and budgetary policies cannot be taken for granted to lead to accountability among institutional actors. The ways by which institutional actors think and act can be influenced by other institutional mechanisms, such as inter-organisational circuits of power and intraorganisational governance policies, independent of the institutional change process. The relevance of institutionalised management accounting policies in negotiating relationships between two or more organisations depends on processes and contexts through which institutional actors use management accounting information as a tool of communication, mutual understanding and power. Research limitations / implications The theoretical framework used can be applied validly in other studies. The empirical findings cannot be generalised directly to other organisations than the organisations analysed. Practical implications Competitive tendering and budgetary policies can be institutionalised to shape actions of institutional actors within an organisation. To lead to accountability, practitioners and policy makers should implement governance policies that increase the use of management accounting information in institutional actors’ thinking, actions and responsibility for their actions. To reach a negotiated order between organisations, institutionalised management accounting policies should be used as one of the tools of communication aiming to reach mutual agreement among institutional actors.

Perspectives for using light quality knowledge as an advanced ecophysiological weed management tool

The current knowledge of light quality effects on plant morphogenesis and development represents a new era of understanding on how plant communities perceive and adjust to available resources. The most important consequences of light quality cues, often mediated by decreasing in red far-red ratios with respect to the spectral composition of incident sunlight radiation, affecting weed-crop interaction are the increased plant height and shoot to root ratio in anticipation of competition by light quantity, water or nutrients. Although the concepts related to light quality have been extensively studied and several basic process of this phenomenon are well known, little applications of photomorphogenic signaling currently are related to agricultural problems or weed management. The objectives of this review are to describe how light quality change can be a triggering factor of interspecific interference responses, to analyze how this phenomenon can be used to predict weed interference, to reevaluate the critical periods of interference concept, and to discuss its potential contribution towards developing more weed competitive crop varieties. Knowledge on light quality responses involved in plant sensing of interspecific competition could be used to identify red/far-red threshold values, indicating when weed control should be started. Light quality alterations by weeds can affect grain crop development mainly in high yielding fields. Unlike the traditional concept or the critical period of competition, light quality mediated interference implies that the critical period for weed control could start before the effects of direct resource (water, nutrients and available light) limitation actually occur. The variability in light quality responses among crop genotypes and the identification of mutants insensitive to light quality effects indicate that this characteristic can be selected or modified to develop cultivars with enhanced interspecific interference ability. Knowledge on light quality-elicited responses represents a new possibility to understand the underlying biology of interspecific interference, and could be used in the development of new weed management technologies.

Green ear yield and grain yield of maize cultivars in competition with weeds

The reduction in herbicide use is one of the greatest interests for modern agriculture and several alternatives are being investigated with this objective, including the adoption of cultivars that suppress weeds. The objective of this study was to verify if maize cultivars develop differently, in competition with weeds, to produce green ears and grain. Randomized complete block design was used, with split-plots and five replications. Cultivars DKB 390, DKB 466, DKB 350, AG 7000, AG 7575 and Master, were evaluated in the plots, without weeding and two weedings (at 22 and 41 days after sowing) in sub plots. Twenty-one species were identified in the experimental area, the most frequent being Gramineae (Poaceae), Euphorbiaceae, Leguminosae (Fabaceae) and Convolvulaceae species. There was no difference in the dry biomass above-ground part of the weeds in the plots of the evaluated cultivars. The cultivars behaved similarly in treatments with or without hoeing, except for plant height and ear height evaluations. Without hoeing, plant height increased in cultivar DKB 390, while plant height and ear height decreased in cultivar AG 7575. In the other cultivars, these traits did not change under weed control. The presence of weeds decreased the values of all traits employed to assess green corn yield, with the exception of the total number of green ears and grain yield.

Multispecies weed competition and their economic threshold on the wheat crop

Two field experiments were conducted to evaluate the effects of multispecies weed competition on wheat grain yield and to determine their economic threshold on the crop. The experiments were conducted in 2002, on two sites in Iran: at the Agricultural Research Station on Ferdowsi University of Mashhad (E1) and on the fields of Shirvan's Agricultural College (E2). A 15 x 50 m area of a 15 ha wheat field in E1 and a 15 x 50 m area of a 28 ha wheat field in E2 were selected as experimental sites. These areas were managed like other parts of the fields, except for the use of herbicides. At the beginning of the shooting stage, 30 points were randomly selected by dropping a 50 x 50 cm square marker on each site. The weeds present in E1 were: Avena ludoviciana, Chenopodium album, Solanum nigrum, Stellaria holostea, Convolvulus spp., Fumaria spp., Sonchus spp., and Polygonum aviculare. In E2 the weeds were A. ludoviciana, Erysimum sp., P. aviculare, Rapistrum rugosum, C. album, Salsola kali, and Sonchus sp. The data obtained within the sampled squares were submitted to regression equations and weeds densities were calculated in terms of TCL (Total Competitive Load). The regression analysis model indicated that only A. ludoviciana, Convolvulus spp. and C. album, in E1; and A. ludoviciana, S. kali, and R. rugosum, in E2 had a significant effect on the wheat yield reduction. Weed economic thresholds were 5.23 TCL in E1 and 6.16 TCL in E2; which were equivalent to 5 plants m-2 of A. ludoviciana or 12 plants m-2 of Convolvulus spp. or 19 plants m-2 of C. album in E1; and 6 plants m-2 A. ludoviciana, 13 plants m-2 S. kali and 27 plants m-2 R. rugosum in E2. Simulations of economic weed thresholds using several wheat grain prices and weed control costs allowed a better comparison of the experiments, suggesting that a more competitive crop at location E1 than at E2 was the cause of a lower weed competitive ability at the first location.

Modeling light interception and distribution in mixed canopy of common cocklebur (Xanthium stramarium) in competition with corn

The aim of this study was to model light interception and distribution in the mixed canopy of Common cocklebur (Xanthium stramarium) with corn. An experiment was conducted in factorial arrangement on the basis of randomized complete blocks design with three replications in Gonabad in 2006-2007 and 2007-2008 seasons. The factors used in this experiment include corn density of 7.5, 8.5 and 9.5 plants per meter of row and density of Common cocklebur of zero, 2, 4, 6 and 8 plants per meter of row. INTERCOM model was used through replacing parabolic function with triangular function of leaf area density. Vertical distribution of the species' leaf area showed that corn has concentrated the most leaf area in layer of 80 to 100 cm while Common cocklebur has concentrated in 35-50 cm of canopy height. Model sensitivity analysis showed that leaf area index, species' height, height where maximum leaf area is seen (hm), and extinction coefficient have influence on light interception rate of any species. In both species, the distribution density of leaf area at the canopy length fit a triangular function, and the height in which maximum leaf area was observed was changed by change in density. There was a correlation between percentage of the radiation absorbed by the weed and percentage of corn seed yield loss (r² = 0.89). Ideal type of corn was determined until the stage of tasseling in competition with weed. This determination indicates that the corn needs more height and leaf area, as well as less extinction coefficient to successfully fight against the weed.

Water use efficiency of cassava plants under competition conditions

The objective of this work was to evaluate characteristics associated with the photosynthetic activity of cassava plants in competition with weeds or not. The trial was performed on open environment conditions, with experimental units consisting of fiber glass vases with 150 dm³ filled with Red Yellow Latosol, previously fertilized. Treatments consisted in the cultivation of cassava plants isolated and associated to three weed species (Bidens pilosa, Commelina benghalensis and Brachiaria plantaginea). After cassava shooting, 15 days after planting, a removal of the weeds excess was performed, sown at the time of cassava planting, leaving six plants m-2 of B. pilosa and four plants m-2 of C. benghalensis and B. plantaginea. At 60 days after emergence (DAE), stomatal conductance (Gs), vapor pressure in the substomatal cavity (Ean), temperature gradient between leaf and air (ΔT), transpiration rate (E) and water use efficiency (WUE) were evaluated. B. pilosa showed greater capacity to affect growth of cassava plants. B. plantaginea is very efficient in using water, especially by presenting C4 metabolism, and remains competitive with cassava even under temporarily low water status. C. benghalensis, in turn, is not a good competitor for light and apparently is not the primary cause of water depletion in the soil. The effects of weeds, in this case, were more associated with the competition. However, they were found between moderate to low. This implies that the competition established at experimental level was low.

Photosynthetic activity of cassava plants under weed competition

The objective of this work was to evaluate characteristics associated with the photosynthetic activity of cassava plants under weed competition. The trial was carried out under field conditions, and experimental units consisted of 150 dm³ fiberglass boxes containing red yellow Latosol, previously corrected and fertilized. Treatments consisted in the cultivation of cassava plants which were free of weed competition and associated with three weed species: Bidens pilosa, Commelina benghalensis or Brachiaria plantaginea. After manioc sprouting started, 15 days after being planted, weeds that had been sown when manioc was planted were thinned, there were then eight plants left per experimental unit in accordance with specified treatments: cassava free of competition, cassava competing with B. pilosa, cassava competing with C. benghalensis and cassava competing with B. plantaginea. Sixty days after crop emergence leaf internal CO2 concentration (Ci), leaf temperature at the time of evaluation (Tleaf) and photosynthetic rate (A) were evaluated, also the CO2 consumption rate (ΔC) of cassava plants was calculated. A correlation matrix between variables was also obtained. All characteristics associated with photosynthesis in cassava plants were influenced by weed species. Cassava was more affected by B. pilosa and B. plantaginea in which concerns its exposition to solar radiation and water, while C. benghalensis seems to mostly affect the composition of incident light on the culture, allowing cassava to anticipate imposition when competing, even before it reaches harmful levels.

Critical period for weed control in potatoes in the Huambo Province (Angola)

The effects of different weed management periods on potatoes were studied in three areas (Bailundo, Chianga and Calenga) of the central highlands of Angola and in three cropping seasons, from June 2005 to May 2007. Six weed-management treatments were used to identify critical periods of competition and to allow the development of more precise management recommendations. Total potato yield ranged from about 22 t ha-1 in weed-free plots to about 3 t ha-1 with no weed control a yield loss of 86%. Major weed species Galinsoga parviflora, Cyperus esculentus, Bidens biternata, Amaranthus hybridus, Nicandra physaloides, Portulaca oleracea and Datura stramonium differed from area to area. The species G. parviflora dominated the weed flora in all three areas 73, 97 and 72 plants m² 50 days after crop emergence in Bailundo, Chianga and Calenga respectively, in dry season trials; while C. esculentus was also present in Chianga and Calenga, with an average density of ca 30 plants m-2 in dry season trials. Gompertz and logistic equations were fitted to data representing increasing periods of weed-free growth and weed interference, respectively. Critical periods for weed control, with a 95% weed-free total yield, were estimated from 26 to 66 and from 20 to 61 days after emergence for the rainy and dry seasons, respectively. Weed competition before or after these critical periods had negligible effects on crop yield.

Corn growth and yield in competition with weeds

Although labor is intensive, evaluating the growth of crops may allow a better understanding of crop performance, including the reasons why certain cultivars can compete better with weeds. This study aims at evaluating growth, green ear yield, and grain yield in corn when in competition with weeds. Cultivars AG 1051 and BRS 106 were grown with (two hoeings, at 20 and 40 days after sowing) or without weed control. In order to evaluate crop growth, six collections of the above-ground part and the root system of corn were performed, every 15 days, with the first collection made 30 days after sowing. A randomized complete block design was adopted, with split-split plots (weed control in plots, cultivars in subplots, and collections in sub-subplots) and ten replicates. Eighteen weed species were found in the experiment area. Increased values of corn leaf area, above-ground part and root system, due to plant age function, were smaller in non-hoed plots than in hoed plots and were dependent upon cultivar. The lack of weed control increased dry matter of weeds aboveground part and decreased green ear yield and grain yield. Cultivar AG 1051 had higher increases in leaf area, above-ground part of the plant and root system, due to plant age function, and controlled weeds better than cultivar BRS 106. In addition, cultivar AG 1051 was superior to other cultivars with respect to most traits used for green corn yield and grain yield assessment.