Residence time distributions of gas flowing through rotating drum bioreactors

Residence time distribution studies of gas through a rotating drum bioreactor for solid-state fermentation were performed using carbon monoxide as a tracer gas. The exit concentration as a function of time differed considerably from profiles expected for plug flow, plug flow with axial dispersion, and continuous stirred tank reactor (CSTR) models. The data were then fitted by least-squares analysis to mathematical models describing a central plug flow region surrounded by either one dead region (a three-parameter model) or two dead regions (a five-parameter model). Model parameters were the dispersion coefficient in the central plug flow region, the volumes of the dead regions, and the exchange rates between the different regions. The superficial velocity of the gas through the reactor has a large effect on parameter values. Increased superficial velocity tends to decrease dead region volumes, interregion transfer rates, and axial dispersion. The significant deviation from CSTR, plug flow, and plug flow with axial dispersion of the residence time distribution of gas within small-scale reactors can lead to underestimation of the calculation of mass and heat transfer coefficients and hence has implications for reactor design and scaleup. (C) 2001 John Wiley & Sons, Inc.

Testing market efficiency: Evidence from the NFL sports betting market

This article examines the efficiency of the National Football League (NFL) betting market. The standard ordinary least squares (OLS) regression methodology is replaced by a probit model. This circumvents potential econometric problems, and allows us to implement more sophisticated betting strategies where bets are placed only when there is a relatively high probability of success. In-sample tests indicate that probit-based betting strategies generate statistically significant profits. Whereas the profitability of a number of these betting strategies is confirmed by out-of-sample testing, there is some inconsistency among the remaining out-of-sample predictions. Our results also suggest that widely documented inefficiencies in this market tend to dissipate over time.

Effect of ion exchange on strength and slow crack growth of a dental porcelain

Objectives. To determine the effect of ion exchange on slow crack growth (SCG) parameters (n, stress corrosion susceptibility coefficient, and sigma(f0), scaling parameter) and Weibull parameters (m, Weibull modulus, and sigma(0), characteristic strength) of a dental porcelain. Methods. 160 porcelain discs were fabricated according to manufacturer`s instructions, polished through 1 mu m and divided into two groups: GC (control) and GI (submitted to an ion exchange procedure using a KNO(3) paste at 470 degrees C for 15 min). SCG parameters were determined by biaxial flexural strength test in artificial saliva at 37 degrees C using five constant stress rates (n =10). 20 specimens of each group were tested at 1 MPa/s to determine Weibull parameters. The SPT diagram was constructed using the least-squares fit of the strength data versus probability of failure. Results. Mean values of m and sigma(0) (95% confidence interval), n and sigma(f0) (standard deviation) were, respectively: 13.8 (10.1-18.8) and 60.4 (58.5 - 62.2), 24.1 (2.5) and 58.1 (0.01) for GC and 7.4 (5.3 -10.0) and 136.8 (129.1-144.7), 36.7 (7.3) and 127.9 (0.01) for GI. Fracture stresses (MPa) calculated using the SPT diagram for lifetimes of 1 day, 1 year and 10 years (at a 5% failure probability) were, respectively, 31.8, 24.9 and 22.7 for GC and 71.2, 60.6 and 56.9 for GI. Significance. For the porcelain tested, the ion exchange process improved strength and resistance to SCG, however, the material`s reliability decreased. The predicted fracture stress at 5% failure probability for a lifetime of 10 years was also higher for the ion treated group. (C) 009 Academy of Dental Materials. Published by Elsevier Ltd. All rights reserved.

A systematic study of the microwave and thermal cure kinetics of the TGDDM/DDS and TGDDM/DDM epoxy-amine resin systems

The microwave and thermal cure processes for the epoxy-amine systems N,N,N',N'-tetraglycidyl-4,4'-diaminodiphenyl methane (TGDDM) with diaminodiphenyl sulfone (DDS) and diaminodiphenyl methane (DDM) have been investigated. The DDS system was studied at a single cure temperature of 433 K and a single stoichiometry of 27 wt% and the DDM system was studied at two stoichiometries, 19 and 32 wt%, and a range temperatures between 373 and 413 K. The best values the kinetic rate parameters for the consumption of amines have been determined by a least squares curve Ft to a model for epoxy-amine cure. The activation energies for the rate parameters for the MY721/DDM system were determined as was the overall activation energy for the cure reaction which was found to be 62 kJ mol(-1). No evidence was found for any specific effect of the microwave radiation on the rate parameters, and the systems were both found to be characterized by a negative substitution effect. Copyright (C) 2001 John Wiley & Sons, Ltd.

The copolymerization of N-vinyl-2-pyrrolidone with 2-hydroxyethyl methacrylate

The bulk free radical copolymerization of 2-hydroxyethyl methacrylate (HEMA) with N-vinyl-2-pyrrolidone (VP) was carried out to low conversions at 50 degreesC, using benzoyl peroxide (BPO) as initiator. The compositions of the copolymers; were determined using C-13 NMR spectroscopy. The conversion of monomers to polymers was studied using FT-NIR spectroscopy in order to predict the extent of conversion of monomer to polymer. From model fits to the composition data, a statistical F-test revealed that die penultimate model describes die copolymerization better than die terminal model. Reactivity ratios were calculated by using a non-linear least squares analysis (NLLS) and r(H) = 8.18 and r(V) = 0.097 were found to be the best fit values of the reactivity ratios for the terminal model and r(HH) = 12.0, r(VH) = 2.20, r(VV) = 0.12 and r(HV) = 0.03 for the penultimate model. Predictions were made for changes in compositions as a function of conversion based upon the terminal and penultimate models.

A systematic study of the microwave and thermal cure kinetics of the DGEBA/DDS and DGEBA/DDM epoxy-amine resin systems

The microwave and thermal cure processes for the epoxy-amine systems (epoxy resin diglycidyl ether of bisphenol A, DGEBA) with 4,4'-diaminodiphenyl sulphone (DDS) and 4,4'-diaminodiphenyl methane (DDM) have been investigated for 1:1 stoichiometries by using fiber-optic FT-NIR spectroscopy. The DGEBA used was in the form of Ciba-Geigy GY260 resin. The DDM system was studied at a single cure temperature of 373 K and a single stoichiometry of 20.94 wt% and the DDS system was studied at a stoichiometry of 24.9 wt% and a range of temperatures between 393 and 443 K. The best values of the kinetic rate parameters for the consumption of amines have been determined by a least squares curve fit to a model for epoxy/amine cure. The activation energies for the polymerization of the DGEBA/DDS system were determined for both cure processes and found to be 66 and 69 kJ mol(-1) for the microwave and thermal cure processes, respectively. No evidence was found for any specific effect of the microwave radiation on the rate parameters, and the systems were both found to be characterized by a negative substitution effect. Copyright (C) 2002 John Wiley Sons, Ltd.

A monolithic smoothing-gap algorithm for contact-impact based on the signed distance function

A new algorithm has been developed for smoothing the surfaces in finite element formulations of contact-impact. A key feature of this method is that the smoothing is done implicitly by constructing smooth signed distance functions for the bodies. These functions are then employed for the computation of the gap and other variables needed for implementation of contact-impact. The smoothed signed distance functions are constructed by a moving least-squares approximation with a polynomial basis. Results show that when nodes are placed on a surface, the surface can be reproduced with an error of about one per cent or less with either a quadratic or a linear basis. With a quadratic basis, the method exactly reproduces a circle or a sphere even for coarse meshes. Results are presented for contact problems involving the contact of circular bodies. Copyright (C) 2002 John Wiley Sons, Ltd.

Overlarge sets of 2-(11, 5, 2) designs and related configurations

We consider the construction of several configurations, including: • overlarge sets of 2-(11,5,2) designs, that is, partitions of the set of all 5-subsets of a 12-set into 72 2-(11,5,2) designs; • an indecomposable doubly overlarge set of 2-(11,5,2) designs, that is, a partition of two copies of the set of all 5-subsets of a 12-set into 144 2-(11,5,2) designs, such that the 144 designs can be arranged into a 12 × 12 square with interesting row and column properties; • a partition of the Steiner system S(5,6,12) into 12 disjoint 2-(11,6,3) designs arising from the diagonal of the square; • bidistant permutation arrays and generalized Room squares arising from the doubly overlarge set, and their relation to some new strongly regular graphs.

Levene tests of homogeneity of variance for general block and treatment designs

This article develops a weighted least squares version of Levene's test of homogeneity of variance for a general design, available both for univariate and multivariate situations. When the design is balanced, the univariate and two common multivariate test statistics turn out to be proportional to the corresponding ordinary least squares test statistics obtained from an analysis of variance of the absolute values of the standardized mean-based residuals from the original analysis of the data. The constant of proportionality is simply a design-dependent multiplier (which does not necessarily tend to unity). Explicit results are presented for randomized block and Latin square designs and are illustrated for factorial treatment designs and split-plot experiments. The distribution of the univariate test statistic is close to a standard F-distribution, although it can be slightly underdispersed. For a complex design, the test assesses homogeneity of variance across blocks, treatments, or treatment factors and offers an objective interpretation of residual plot.

Efeitos do comitê de auditoria e do conselho fiscal na qualidade da informação contábil no Brasil

Esta dissertação foi desenvolvida com o objetivo de investigar os efeitos da instalação e das características do Conselho Fiscal e do Comitê de Auditoria sobre a qualidade das informações contábeis no Brasil. As características estudadas foram à independência e a qualificação dos membros. As proxies da qualidade da informação contábil foram relevância, tempestividade e conservadorismo condicional. A amostra utilizada foi composta por empresas brasileiras, listadas na Bolsa de Valores, Mercadorias e Futuros de São Paulo (BM&FBovespa), com liquidez anual superior a 0,001, no período de 2010 a 2013. Os dados foram coletados na base de dados Comdinheiro e nos Formulários de Referência das empresas, disponíveis no sítio eletrônico da Comissão de Valores Mobiliários (CVM) ou BM&FBovespa. Os modelos de qualidade da informação foram adaptados ao recorte metodológico e estimados pelo método dos mínimos quadrados ordinários (MQO), com erros-padrão robustos clusterizados por firma. Os resultados revelaram efeitos da instalação dos órgãos analisados sobre as proxies de qualidade da informação contábil. A instalação do Conselho Fiscal impactou positivamente a relevância do patrimônio líquido, enquanto a instalação do Comitê de Auditoria, a relevância do lucro. Esses resultados podem indicar diferenças no direcionamento da atenção desses órgãos: em proteger o patrimônio da entidade para os acionistas (Conselho Fiscal) ou em assegurar números mais confiáveis sobre o desempenho dos administradores (Comitê de Auditoria). Paralelamente, os resultados para a instalação do Conselho Fiscal de forma permanente inferiu força desse órgão como mecanismo de controle, ao invés da instalação somente a pedido dos acionistas. Já, a implementação do Conselho Fiscal Turbinado se mostrou ineficiente no controle da qualidade das informações contábeis. Na análise das características, a independência dos membros do Comitê de Auditoria impactou a relevância do lucro. Ao passo que a independência do Conselho Fiscal impactou a relevância do patrimônio líquido e o conservadorismo condicional (reconhecimento oportuno de perdas econômicas). Essas associações foram mais significantes quando os membros do Conselho Fiscal eram independentes dos acionistas controladores. Na análise da qualificação dos membros, foram encontradas evidências positivas na relação entre a relevância do patrimônio líquido e a maior proporção de membros do Conselho Fiscal com qualificação em Business (Contabilidade, Administração e Economia). O conservadorismo condicional foi maior na medida em que a qualificação dos membros do Conselho Fiscal convergia para a Contabilidade. Os resultados da qualificação dos membros do Comitê de Auditoria demonstraram relevância do lucro na presença de, ao menos, um Contador e na maior proporção de membros com qualificação tanto em Contabilidade como em Business; sendo mais significante conforme a qualificação dos membros do Comitê de Auditoria convergia para a Contabilidade.

Fatores determinantes da política de distribuição de dividendos: Evidência empírica para as empresas não financeiras da Euronext Lisbon

Dividends and their distribution decisions, being a component of the compensation of investors are a constant financial worry within companies, thus revealing one of the themes highlighted in the context of the financial literature. Study will address the factors determining the dividend policy practiced by companies listed in the Portuguese stock market. The latter will be 47 non-financial companies listed on the Euronext Lisbon during 2009 until 2011. The two samples that have been investigated include the representative of the majority of non-financial companies listed on Euronext Lisbon and the other financial companies members of the PSI 20. The methodology adopted is one of the ordinary least squares regression and the amount of dividends per share distributed was used in determining the dependent variable. In relation to the independent variables, six explanatory factors were chosen. These include profitability, stability of dividend policy, size, growth, risk and investment opportunities. The conclusion suggests that the most important factors to explain the amount of dividends distributed are profitability and stability of dividend policy. There after, growth and risk factors, as well as factors that explain the amount of dividends distributed are also relevant. The remaining variables obtained were insufficient evidence pointing to a significant effect in explaining the dividend policy of Portuguese companies in the sample. The conclusion also states that differences exist in the importance of the explanatory factors to the amount of dividends distributed between the study samples, given the differentiation of dividend policies, followed by companies from each group analyzed.

Desempenho empresarial e o valor da empresa no mercado de capitais: evidência empírica para o mercado de capitais português

The main objective of this paper is to analyse the effect of firms’ performance indicators in explaining the price of stocks in the Portuguese capital market, using a fundamental analysis. In the empirical setting, firms’ performance indicators are gathered into two groups: (1) economic and financial indicators and (2) stock market indicators. Using a sample of 38 firms quoted at Euronext Lisbon, estimates are obtained trough an Ordinary Least Squares (OLS) model and report to December, 31 2007. Results suggest that performance indicators are able to explain the firms’ stock market price. There is a significant positive impact of sales growth and of payout ratio, while we find a statistically significant negative effect of the firm’s financial autonomy on the stock market price for the majority of firms quoted at Euronext Lisbon.

Inovatividade, envolvimento, atitude e experiência na adoção da compra on-line

Este trabalho procura analisar as inter-relações entre a inovatividade, o envolvimento, a atitude dentro do modelo Theory of Planned Behavior (TPB) decomposto desenvolvido na psicologia social, e a experiência com a Internet com o processo de adoção da compra pela internet. Foi elaborado um modelo integrativo que possibilitasse explicar a relação entre esses fatores e a compra pela internet, e foi desenvolvida uma pesquisa de campo considerando uma amostra não probabilística de estudantes. Foi utilizado o método multivariado de modelagem de equações estruturais, aplicado por meio da técnica Partial Least Squares (PLS) para a verificação, explicação e comparação das relações entre os construtos. Os resultados mostram que a intenção da compra pela internet é diretamente influenciada pela atitude e pela inovatividade, e a atitude é influenciada pelo envolvimento. Não foi encontrada relação entre a experiência com a internet e a compra pela internet.

Fungos endofíticos em Eugenia brasiliensis: prospecção química, biológica, enzimática e avaliação do co-cultivo e epigenética em Xylaria cubensis, Diaporthe sp. e Colletotrichum sp.

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Geographical, temporal and environmental determinants of bryophyte species richness in the Macaronesian Islands

Copyright: © 2014 Aranda et al. This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.