The role of venture capitalists in the identification and measurement of intangible assets

The increase in the importance of intangibles in business competitiveness has made investment selection more challenging to investors that, under high information asymmetry, tend to charge higher premiums to provide capital or simply deny it. Private Equity and Venture Capital (PE/VC) organizations developed contemporarily with the increase in the relevance of intangible assets in the economy. They form a specialized breed of financial intermediaries that are better prepared to deal with information asymmetry. This paper is the result of ten interviews with PE/VC organizations in Brazil. Its objective is to describe the selection process, criteria and indicators used by these organizations to identify and measure intangible assets, as well as the methods used to valuate prospective investments. Results show that PE/VC organizations rely on sophisticated methods to assess investment proposals, with specific criteria and indicators to assess the main classes of intangible assets. However, no value is given to these assets individually. The information gathered is used to understand the sources of cash flows and risks, which are then combined by discounted cash flow methods to estimate firm's value. Due to PE/VC organizations extensive experience with innovative Small and Medium-sized Enterprises (SMEs), we believe that shedding light on how PE/VC organizations deal with intangible assets brings important insights to the intangible assets debate.

Narrativas do Brasil nas memórias de Pedro Nava

This thesis is a translation of work of the Brazilian doctor, Pedro da Silva Nava (1903-1984), in particular, his memoirs and chronicles, articulated with the writings of medicine history, aiming to defend that the autobiographical narratives are sources of research capable of promoting discussions on the expansion of the present at the confluence of complex and unequal society in constant changing process as the Brazilian. The theoretical and methodological support circulates around studies, proposals and thesis by Boaventura Santos about empowering past, destabilizing subjectivity, sociology of absences, cosmopolitan reason and translation work. The empirical support drawn from the literature produced by Nava were analyzed with reference this reasoning and studies that have facilitated the flow of translation among others, the studies of Antonio Candido, Arrigucci Jr., Boris Cyrulnik, Beatriz Sarlo, Ecléa Bosi, Ítalo Calvino, José Willington Germano, José Maria Cançado, Lev Vygotsky, Marilena Chauí, Paul Ricöeur and Walter Benjamim, without neglecting what we consider indispensable to scientific research, the production of relevant knowledge and prudent, in view of a decent life. The initial inflections reflect the subject of the Memoirs and its education/training, to then place the Memoir subject in the literary context, scientific, historical and Brazilian poetic (1972-2010), bringing great interpreters and discussing the rationale used by the Narrator that we defend stand closer to the cosmopolitan, showing the formation of narratives whose presence insert itself beforehand to modernist verve, linked to the discursive array against the literature as domination space, disseminated in Brazil in the early twentieth century. So, it articulate with those in which the concerns adjust the construction of the social formation of Brazil as a national heritage through literary narrative that focuses on a historical principle that becomes the past empowering, allowing his rereading, whose converge to memory, the lifestyles, the plurality of language and Brazilian culture, formed by several people, converging into a design not of culture but multiculturalism in Brazil. The memory issue was addressed in the space-time of experiences of being that narrates, shaped by a destabilizing subjectivity that sought to order the testimony of a time, a history and society, retelling them by creative imagination, almost fictional, to make circulate his knowledge about Brazil attached to his medical knowledge, as well as other subjects in his living group and other groups with whom they maintained contact. Thus, he portrayed both tangible and intangible cultural assets of the country as a form of preservation, giving them meanings and sense. It approaches, therefore, from the perspective of sociology of absences, the expansion of the present and by the logic inherent in his narratives of self and Brazil

TOURISM IN CAVES and THE CONSERVATION of THE SPELEOLOGICAL HERITAGE: THE CASE of SERRA da BODOQUENA (MATO GROSSO do SUL STATE, BRAZIL)

Heros Augusto Santos Lobo & Edvaldo Cesar Moretti: Tourism in Caves and the Conservation of the Speleological Heritage: The case of Serra da Bodoquena (Mato Grosso do Sul State, Brazil)The Serra da Bodoquena is the region in the state of Mato Grosso do Sul, Brazil in which the Municipality of Bonito is located. This municipality is the primary calling card for tourism in the state and is one of the most developed areas of ecotourism and speleotourism in the country The tourism there is entitled ecotourism, and is designed to be sustainable. The present case study focuses on the ecologically Sustainable aspects of the spleotourism practiced there, especially the proposals for tourist carrying capacity adopted. The results and discussion provide Suggestions for the adoption of a different formulation of carrying capacity focusing on both operational and quantitative aspects. Ecologically Sustainable speleotourism in the Serra da Bodoquena should be possible as long as new proposals limiting visitation are adopted which conform to technical environmental management procedures and consider the interests of local stakeholders.

The preparation of inventories and balance sheets of the natural and cultural heritage

Includes bibliography

Natural heritage accounts and sustainable development

Includes bibliography

The preparation of natural and cultural heritage inventories and accounts

Includes bibliography

Informe del Taller de Trabajo sobre Inventarios y Cuentas del Patrimonio Natural del Corredor Biológico de Chichinautzin, Estado de Morelos, México = Report of the Workshop on Natural Heritage Inventories and Accounts for the Chichinautzin Biological Corridor in the State of Morelos, Mexico

Contiene los antecedentes y resumen de los debates de la reunión que tuvo por objetivo presentar los resultados obtenidos en la elaboración de un inventario y una cuenta del patrimonio natural para el corredor biológico de Chichinautzin, y contribuir por medio de estudios presentados, a la preservación de un cinturón ecológico en torno al Distrito de Morelos.

Informe del Seminario Regional sobre Inventarios y Cuentas del Patrimonio Natural y Cultural: Avances y Perspectivas en América Latina y el Caribe = Report of the Regional Seminar on Natural and Cultural Heritage Inventories and Accounts: Progress and Prospects in Latin America and the Caribbean

Contiene los antecedentes básicos y resumen de los debates del Seminario que tuvo por objetivo presentar el estado actual de los conocimientos en metodologías de cuentas del patrimonio natural, las metodologías de clasificación y jerarquización de los recursos naturales que se han de incorporar en las cuentas patrimoniales, los conflictos sobre la valoración económica, economía política e indicadores económico-ambientales en las cuentas patrimoniales, los sistemas de información geográfica.

El desarrollo territorial a partir de la construcción de capital sinergético: una contribución al tema del capital intangible del desarrollo

Incluye Bibliografía

Significance of the preservation of the architectural heritage in relation to tourism

Destaca la importancia de considerar la preservacion del patrimonio arquitectonico como un aporte al desarrollo de proyectos turisticos.

Patrimônio cultural imaterial: o tradicionalismo sul-rio-grandense e a multiterritorialização da identidade gaúcha

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Ver-o-peso, patrimônio(s) e práticas sociais: uma abordagem etnográfica da feira mais famosa de Belém do Pará

Identificar e interpretar, a partir de abordagem etnográfica, o patrimônio cultural dos trabalhadores do Ver-o-Peso, a feira mais famosa de Belém do Pará, é o objetivo deste trabalho. Não o patrimônio cultural brasileiro, reconhecido por meio do tombamento em 1977, como conjunto arquitetônico e paisagístico, mas o patrimônio que constitui elemento agregador para esse grupo social, fator de pertencimento e identidade coletiva, que é detentor de valores e significados, ainda que, raramente, seja percebido e identificado por esses trabalhadores dessa forma. A pesquisa, realizada por meio de observação participante, entrevistas semi-estruturadas e informais aconteceu no período de 2005 a 2007, em quatro etapas. O patrimônio cultural identificado é, sobretudo de natureza imaterial, mas também está presente em tomo de coisas materiais como o espaço, no sentido de um território com temporal idade própria que é também um lugar, demarcado por práticas sociais e operações cotidianas, as quais envolvem múltiplas dimensões da vida social. Nesse espaço objetos, expressões corporais, sentimentos e sociabilidade associadas e desenvolvidas no fazer diário, prenhes de significados e possibilidades estimulam o imaginário e ativam memórias. De geração a geração esse legado é o responsável, juntamente com aqueles que o preservam, reinterpretam e transmitem, pela manutenção da "essência" do Ver-o-Peso, assim como pelo sentido de pertencimento e identificação de seus trabalhadores com esse lugar ao longo dos anos. A despeito da negligência por parte de muitas instituições, esses trabalhadores e trabalhadoras preservam sua cultura.

Toxic heritage: maternal transfer of pyrethroid insecticides and sunscreen agents in dolphins from Brazil

Pyrethroids (PYR) and UV filters (UVF) were investigated in tissues of paired mother-fetus dolphins from Brazilian coast in order to investigate the possibility of maternal transfer of these emerging contaminants. Comparison of PYR and UVF concentrations in maternal and fetal blubber revealed Franciscana transferred efficiently both contaminants to fetuses (F/M > 1) and Guiana dolphin transferred efficiently PYR to fetuses (F/M > 1) different than UVF (F/M < 1). PYR and UVF concentrations in fetuses were the highest-ever reported in biota (up to 6640 and 11,530 ng/g lw, respectively). Muscle was the organ with the highest PYR and UVF concentrations (p < 0.001), suggesting that these two classes of emerging contaminants may have more affinity for proteins than for lipids. The high PYR and UVF concentrations found in fetuses demonstrate these compounds are efficiently transferred through placenta. This study is the first to report maternal transfer of pyrethroids and UV filters in marine mammals.

Medium and large-sized mammals in a private reserve of natural heritage in the municipality of Jaú, São Paulo, Brazil

Medium and large-sized mammals control invertebrate and vertebrate populations and are important seed dispersers. These animals are losing their territory and living range due to deforestation and the fragmentation of natural areas, particularly in the Atlantic Forest and Cerrado. The Private Reserve of Natural Heritage (PRNH) Amadeu Botelho is isolated from other forest fragments and is thus a wildlife refuge in the region of Jaú, central-western region of state of São Paulo, southeastem Brazil. Animals as such as the puma (Puma concolor), ocelot (Leopardus pardalis) and jaguarundi (Puma yagouaroundi) have been sighted in the reserve by wildlife guards and residents. This reserve, which belongs to “Santo Antônio dos Ipês” farm, is surrounded by several plantations, and is very close to the center of the city of Jaú. In addition to surveying the mammal species in the reserve, this study diagnosed the influence of the farm’s activities and the proximity to the center of the municipality of Jaú on the fauna under study