The growing importance of the ETF industry - the pros and cons of passive management

O objectivo deste projecto é a comparação entre os prós e contras de gestão passiva e ativa através da realização de um estudo estatístico de várias estratégias através dos Exchange-Traded Funds. Em particular, a análise vai passar pela estratégia mais passiva, ou seja, buy and hold, para um grau diferente de active indexing management, tais como rotações do sector e / ou classe de ativos com base no bottom-up, top-down e indicadores técnicos. A análise mostra que as estratégias ativas, se forem devidamente aplicadas, conseguem obter retornos ajustados ao risco substancialmente superiores quando comparados com uma abordagem passiva, superando as questões de custos de transação e diversificação que normalmente são reivindicadas por uma gestão passiva.

Rising Publication Delays Inflate Journal Impact Factors

Journal impact factors have become an important criterion to judge the quality of scientific publications over the years, influencing the evaluation of institutions and individual researchers worldwide. However, they are also subject to a number of criticisms. Here we point out that the calculation of a journal’s impact factor is mainly based on the date of publication of its articles in print form, despite the fact that most journals now make their articles available online before that date. We analyze 61 neuroscience journals and show that delays between online and print publication of articles increased steadily over the last decade. Importantly, such a practice varies widely among journals, as some of them have no delays, while for others this period is longer than a year. Using a modified impact factor based on online rather than print publication dates, we demonstrate that online-to-print delays can artificially raise a journal’s impact factor, and that this inflation is greater for longer publication lags. We also show that correcting the effect of publication delay on impact factors changes journal rankings based on this metric. We thus suggest that indexing of articles in citation databases and calculation of citation metrics should be based on the date of an article’s online appearance, rather than on that of its publication in print.

Gestão da informação: um estudo de caso em um instituto de pesquisa tecnológica

Each two years the amount of available information in the world double. This is the Information Age, where the success depends on what one knows, not on what one has. A new economy appears with the capacity to generate, to store, to process and to apply effectively the knowledge, based on information, determining the companies productivity and competitiveness.The objective of this work is to understand the information management model of a technological research institute - CTGÁS (Gas Technology Center). The research has been done focused on the 5 main processes and the 15 support processes of the organization value chain , aiming to understand the information management in the organization based on Davenport´s Information Management model (1998). Therefore, it was necessary to identify how the necessary information for the organizational processes accomplishment are determined, obtained, distributed and used by the organization. The research can be classified as descriptive, regarding to its aims, and as a case study, related to the research ways. Interviews with the managers of the organization value chain processes have been carried through, with the objective to identify how they perceive the Information Management process that circulates in the organizational processes. Complementarily, a documentary research has been carried through, associated to the direct observation and procedures and actions follow up, involving the Information Management. The data treatment and analysis have been done from the authors theoretical support and from the managers interviews analysis, documents and processes observed by the researcher in the organization. It was noticed that the organization has raised its level of information needs that are not difficult to be determined and are satisfactorily obtained and distributed, although the majority of them are not structuralized, automatized or even classified regarding to its confidence. These peaces of information have good quality and are important, however they reflect a medium dependence on external and informal information, besides being used only in its great majority for people to know what and how to do something

A revenda de combustível e os limites constitucionais para a sua regulação: uma análise aplicada aos aspectos concorrênciais e ao controle de preços

The gas retail represents the end of a section of the oil and natural gas derivative chain, for it is at this stage where the commercialization of those merchandises takes place towards the costumers. This process involves an enormous amount of economic agents, which reflects on an activity of great influence on the citizen's everyday. By the time of the gas retail price liberalization, in 2002, there were great expectations towards that measure, for the insertion of that segment in a competitive market was likely to create a decrease in prices. As there was not a drastic drop off in cost, the question was no longer the price itself, but, predominantly, the conduct taken by the economic agents that operate the market. Not in vain, the segment introduces a greater number of different procedures combined with the organs that compose the Brazilian System of Competition Protection. What is understood, however, is that many of these complaints are made in a lightly way, without a proper analysis of the market and its practices, that being why, in this paper, evidences the causes of these complaints and explained what, in fact, occurs in this market. Also, the organs that protect the free initiative in the sector use different methods to assess anticompetitive practices, which are counterproductive on the combat of anticompetitive practice, that being why the present paper analyzes the used methods on a critic perspective, choosing one which is believed to be the most adequate. The present work also tries to present the gas retail prices on a constitutional, free competition, free initiative and consumers defense perspective, analyzing the competition s aspects on the gas market; the shaping of the gas prices; the market boundaries; the anti-competitive practices under the gas market; and analyze the possibility, according to the defined economic standards in the constitutional text of existing a greater control or gas price indexing and/or regulation which limits the distributors and resellers profit on gas. Still, in consequence of this analysis, a study on Natal s market behavior will be developed in its competitive feature. That being said, moreover being a theoretical-descriptive study, data and statistics gathered is used, which will lead, willing to grasp an experiential study on a few aspects of the Potiguar gas retail market

Mãe-esposa e professora: educadoras no final do século XIX

This text is organized through discussions undertaken in the area of the History of Education in Rio Grande do Norte, circumscribed to the History of Women from the first decades of the Brazilian Republic, and to the analysis of what was expected of this education. We examined representations of women in Natal, between 1889 and 1914, with the goal of configuring relations between the sexes with the emphasis on moral, intellectual and pedagogical aspects required of these women. As documental sources we utilized the educational, civil and criminal Legislation, on a National scope, as well as on a State and Municipal scope. We circumscribed our search to the newspaper A República, in which we found literature that circulated in Natal in the form of pamphlets, short stories and poetry, as well as other texts by authors that were part of the corpus of analysis of this study, located in public and private archives in Rio Grande do Norte, such as the Historical and Geographic Institute of Rio Grande do Norte (IHGRN) and the State Public Archive of Rio Grande do Norte (APE-RN). The use of the indexing method and the propositions of Cultural History were the appropriate theoretical-methodological framework to complete studies of this nature. This operational perspective permitted us to elaborate nuances about this time of transition from the 19th to the 20th Century, and to spotlight the fire of the women from this period. The basis of the argument that related women to maternity and domesticity, and within the ideals of abnegation and religious leadership, aligned to a demand coming from the increase in the quantity of schools for women, allocated women as the most appropriate for superior in educational performance in the country, based on its foundations: primary education. Beyond the universe of formal education, the other side of women appeared in republican politics. The mother-spouse and the institutionalization of domestic education associated the female gender with the role of educator at home as well. Be it in the public sphere, as a teacher, or in private, as mother-spouse, female care is perceived in this configuration, as an educational base that the Republic, and in transition, bequeathed to the Brazilian 20th Century

Seleção seqüencial de descritores por análise da semântica para recuperação de imagens baseada no conteúdo

With the rapid growth of databases of various types (text, multimedia, etc..), There exist a need to propose methods for ordering, access and retrieve data in a simple and fast way. The images databases, in addition to these needs, require a representation of the images so that the semantic content characteristics are considered. Accordingly, several proposals such as the textual annotations based retrieval has been made. In the annotations approach, the recovery is based on the comparison between the textual description that a user can make of images and descriptions of the images stored in database. Among its drawbacks, it is noted that the textual description is very dependent on the observer, in addition to the computational effort required to describe all the images in database. Another approach is the content based image retrieval - CBIR, where each image is represented by low-level features such as: color, shape, texture, etc. In this sense, the results in the area of CBIR has been very promising. However, the representation of the images semantic by low-level features is an open problem. New algorithms for the extraction of features as well as new methods of indexing have been proposed in the literature. However, these algorithms become increasingly complex. So, doing an analysis, it is natural to ask whether there is a relationship between semantics and low-level features extracted in an image? and if there is a relationship, which descriptors better represent the semantic? which leads us to a new question: how to use descriptors to represent the content of the images?. The work presented in this thesis, proposes a method to analyze the relationship between low-level descriptors and semantics in an attempt to answer the questions before. Still, it was observed that there are three possibilities of indexing images: Using composed characteristic vectors, using parallel and independent index structures (for each descriptor or set of them) and using characteristic vectors sorted in sequential order. Thus, the first two forms have been widely studied and applied in literature, but there were no records of the third way has even been explored. So this thesis also proposes to index using a sequential structure of descriptors and also the order of these descriptors should be based on the relationship that exists between each descriptor and semantics of the users. Finally, the proposed index in this thesis revealed better than the traditional approachs and yet, was showed experimentally that the order in this sequence is important and there is a direct relationship between this order and the relationship of low-level descriptors with the semantics of the users

Uma ferramenta para Análise Multiresolução de dados não regularmente amostrados

Digital signal processing (DSP) aims to extract specific information from digital signals. Digital signals are, by definition, physical quantities represented by a sequence of discrete values and from these sequences it is possible to extract and analyze the desired information. The unevenly sampled data can not be properly analyzed using standard techniques of digital signal processing. This work aimed to adapt a technique of DSP, the multiresolution analysis, to analyze unevenly smapled data, to aid the studies in the CoRoT laboratory at UFRN. The process is based on re-indexing the wavelet transform to handle unevenly sampled data properly. The was efective presenting satisfactory results

Estudo da estimativa da incerteza de medição para determinação do BS&W e da vazão aplicado no laboratório de avaliação de medição do petróleo

The considered work presents the procedure for evaluation of the uncertainty related to the calibration of flow measurers and to BS&W. It is about a new method of measurement purposed by the conceptual project of the laboratory LAMP, at Universidade Federal do Rio Grande do Norte, that intends to determine the conventional true value of the BS&W from the total height of the liquid column in the auditor tank, hydrostatic pressure exerted by the liquid column, local gravity, specific mass of the water and the specific mass of the oil, and, to determine the flow, from total height of liquid column and transfer time. The calibration uses a automatized system of monitoration and data acquisition of some necessary largnesses to determine of flow and BS&W, allowing a better trustworthiness of through measurements

Estimativa das máximas pistas de vento no reservatório da barragem de Ilha Solteira, Estado de São Paulo

Most methods employed to estimate the height of waves generated by the wind require the surface length over which the wind blows. The choice of method depends on the nature of the water body, being applicable to ocean areas or interior water bodies, such as bays, lakes and reservoirs. One of the usual solutions has been the direct usage of the method validated in ocean waters for interior waters, therefore, not taking into consideration the effect of the restriction imposed by the shores. Nevertheless, the excessive quantity of operations of the method applied to interior water bodies (where the shore is a restraint condition) may not assure a satisfactory precision degree, unless an accurate enough graphic base of the shore with the addition of the operator's subjectivity is used. Thus, this scientific community brings this discussion to light, proposing a classic solution based on the application of the adequate method to interior waters (Saville et al., 1954) via automatized processing. Therefore, a program in AutoLISP, a computational language, has been developed. The application of the program has determined the maximum wind fetches in Ilha Solteira, state of São Paulo, reservoir as being between 9.5 and 12.5 km, in contrast with a previous study which has predicted far longer fetches (factor of three).

O desempenho terminológico dos descritores em Ciência da Informação do Vocabulário Controlado do SIBi/USP nos processos de indexação manual, automática e semi-automática

The terminological performance of the descriptors representing the Information Science domain in the SIBI/USP Controlled Vocabulary was evaluated in manual, automatic and semi-automatic indexing processes. It can be concluded that, in order to have a better performance (i.e., to adequately represent the content of the corpus), current Information Science descriptors of the SIBi/USP Controlled Vocabulary must be extended and put into context by means of terminological definitions so that information needs of users are fulfilled.

Uso das tecnologias na representação descritiva: o padrão de descrição bibliográfica semântica MarcOnt Initiative nos ambientes informacionais digitais

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Uma proposta de framework como infra-estrutura de implementação de sistemas informacionais baseados na visão dos FRBR orientado a objetos

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

A situação atual da indexação nas tarefas bibliotecárias

Na atualidade a atribuição dos descritores de assuntos ou indexação do conteúdo dos livros, nem sempre está associada ao contexto concreto de cada biblioteca, provocando, em muitos casos, que a recuperação por assuntos não resulte adequada. Neste trabalho analisam-se os principais desafios e perspectivas da indexação dos livros, os avanços de análises de assuntos nos catálogos de bibliotecas, examinam-se procedimentos, instrumentos, regras e condutas utilizadas nas análises e representação do conteúdo dos livros. Também se mostra a interação entre o ensino, a pesquisa e a atuação profissional necessária para que os estudantes possam desenvolver competências na análise, na representação e na procura da informação, assim como os princípios - provavelmente menos evidentes- da organização do conhecimento. Este trabalho coloca em evidência que as políticas de gestão da informação, mais quantitativas que qualitativas, deixam num segundo plano o processamento intelectual do conteúdo prejudicando, desta maneira, a recuperação por assuntos através do catalogo da biblioteca. Finalmente, se recolhe uma serie de propostas docentes relacionadas com a atribuição de descritores de assuntos em contextos bibliotecários.

O uso de linguagem documentária em catálogos coletivos de bibliotecas universitárias: um estudo de avaliação sociocognitiva com protocolo verbal

Avaliou-se o uso de linguagem documentária alfabética de catálogos coletivos, na perspectiva das bibliotecas universitárias e no contexto sociocognitivo dos indexadores e dos usuários. Concluiu-se que o uso adequado de linguagens documentárias de áreas científicas especializadas faz-se por meio da avaliação quanto à atualização, especificidade e compatibilidade para atender às necessidades de indexação e recuperação da informação.

Estudos de avaliação quantitativa e qualitativa de linguagens documentárias: uma síntese bibliográfica

Este estudo apresenta uma síntese bibliográfica sobre as metodologias de avaliação que foram propostas por pesquisadores internacionais e nacionais e utilizadas por indexadores de instituições de ensino e/ou pesquisas atuantes em unidades de informação e/ou centros de documentação, bem como aquelas que foram analisadas pelas opiniões dos próprios usuários da informação registrada e disponibilizada em inúmeros sistemas de informações, com enfoques nas abordagens quantitativa, qualitativa e qualitativa/cognitiva, respectivamente.