Cyclicality of SME Lending and Government Involvement in Banks

Recent regulatory efforts aim at lowering the cyclicality of bank lending because of its potential detrimental effects on financial stability and the real economy. We investigate the cyclicality of SME lending by local banks with vs. without a public mandate, controlling for location, size, loan maturity, funding structure, liquidity, profitability, and credit demand-side factors. The public mandate is set by local governments and stipulates a deviation from strict profit maximization and a sustainable provision of financial services to local customers. We find that banks with a public mandate are 25 percent less cyclical than other local banks. The result is credit supply-side driven and especially strong for savings banks with high liquidity and stable deposit funding. Our findings have implications for the banking structure, financial stability and the finance-growth nexus in a local context.

The importance of firms' strategic resources and capabilities in crisis situations

The general idea of this research is to analyze overall firm performance before and after the global financial crisis of 2008. The main question is: What kind of strategies did companies adopt that led to positive business performance after the crisis? Are there any particular competitive advantages that bring better performance in the case of an economic downturn? This research focuses on competitive advantage gained by resource-based view attributes of a product (quality, durability and prestige) and dynamic capabilities (strategic flexibility in product development and technological innovation ability). The economic crisis setting provides a proper background to analyze the competitive advantage strategies in a dynamic, low-probability environment to determine which are most worth adopting in the business world. I employ an OLS regression analysis in order to measure the business performance of 136 Brazilian firms across four years – 2002, 2005, 2008 and 2012. The findings indicate that even though all of the strategic resources and capabilities positively influence firm performance in expansionary periods, only the superior product characteristics are pertinent in surviving an economic downturn.

Cyclicality of SME lending and government involvement in banks

Recent regulatory efforts aim at lowering the cyclicality of bank lending because of its potential detrimental effects on financial stability and the real economy. We investigate the cyclicality of SME lending by local banks with vs. without a public mandate, controlling for location, size, loan maturity, funding structure, liquidity, profitability, and credit demand-side factors. The public mandate is set by local governments and stipulates a deviation from strict profit maximization and a sustainable provision of financial services to local customers. We find that banks with a public mandate are 25 percent less cyclical than other local banks. The result is credit supply-side driven and especially strong for savings banks with high liquidity and stable deposit funding. Our findings have implications for the banking structure, financial stability and the finance-growth nexus in a local context.

O Barroco Hispano-americano: primero sueño ou Sor Juana Inés de La Cuz

The current dissertation is linked to the research line Poéticas da modernidade e da pós-modernidade (modern and post modern poetics), which is being developed for the Programa de Pós-graduação em Estudos da Linguagem (Program of post graduation in language studies), in the area of Literatura Comparada (comparative literature) CCHLA/UFRN. The main aim of the research is to show the reading of Primero sueño by sor Juana Inés de la Cruz, in the middle of the contemporary age, through an eclectic analysis which elucidates the baroque in its most recent concept; the social context and the life as a nun of sor Juana and the analysis of the poetry starting from the glance to the literary text. The perception of the baroque eon universal as a constant artistic movement from its appearance to the present time thus highlighted based on the most modern studies by the baroque specialists: Eugênio d Ors, O barroco (s/d), Severo Sarduy, Barroco (s/d) and Gilles Deleuze, A dobra: Leibniz e o barroco (1991). In that research, it will be presented the translation/transcreation of the study object corpus still guided by the translatological theories of Haroldo de Campos (2004), Da tradução como criação e como crítica, Walter Benjamin (1971), A tarefa do tradutor and Jacques Derrida (2006), Torres de Babel

Caracterização comportamental e distribuição de neurônios inibitórios em um modelo animal de autismo induzido por ácido valpróico

Autism comprises a heterogeneous group of neurodevelopmental disorders that affects the brain maturation and produces sensorial, motor, language and social interaction deficits in early childhood. Several studies have shown a major involvement of genetic factors leading to a predisposition to autism, which are possibly affected by environmental modulators during embryonic and post-natal life. Recent studies in animal models indicate that alterations in epigenetic control during development can generate neuronal maturation disturbances and produce a hyper-excitable circuit, resulting in typical symptoms of autism. In the animal model of autism induced by valproic acid (VPA) during rat pregnancy, behavioral, electrophysiological and cellular alterations have been reported which can also be observed in patients with autism. However, only a few studies have correlated behavioral alterations with the supposed neuronal hyper-excitability in this model. The aim of this project was to generate an animal model of autism by pre-natal exposure to VPA and evaluate the early post-natal development and pre-puberal (PND30) behavior in the offspring. Furthermore, we quantified the parvalbumin-positive neuronal distribution in the medial prefrontal cortex and Purkinje cells in the cerebellum of VPA animals. Our results show that VPA treatment induced developmental alterations, which were observed in behavioral changes as compared to vehicle-treated controls. VPA animals showed clear behavioral abnormalities such as hyperlocomotion, prolonged stereotipies and reduced social interaction with an unfamiliar mate. Cellular quantification revealed a decrease in the number of parvalbumin-positive interneurons in the anterior cingulate cortex and in the prelimbic cortex of the mPFC, suggesting an excitatory/inhibitory unbalance in this animal model of autism. Moreover, we also observed that the neuronal reduction occurred mainly in the cortical layers II/III and V/VI. We did not detect any change in the density of Purkinje neurons in the Crus I region of the cerebellar cortex. Together, our results strengthens the face validity of the VPA model in rats and shed light on specific changes in the inhibitory circuitry of the prefrontal cortex in this autism model. Further studies should address the challenges to clarify particular electrophysiological correlates of the cellular alterations in order to better understand the behavioral dysfunctions

Garantia literária: elementos para uma revisão crítica após um século

This study contributes to a critical synthesis of the principle of literary warrant, initially formulated by Hulme in 1911. Hulme proposed that the terms of a classification system should be derived from the literature to be classified, rather than based on purely theoretical considerations. Founding literary warrant on literature which is actually documented rather than on scientific or philosophical classifications or on the supposed authority of the first classificationists implied a clear departure from the conceptions of Harris and Dewey, who had used the classifications of Bacon and Leibniz as models. The validity of this principle over the past century is studied by means of diverse documental data (entries in dictionaries, retrieval by Google, etc.), as it is recognized as a main methodological element for classification standards and systems. This study also discusses the situation with respect to the top-down or bottom-up methodologies of system design. Three traditional applications of literary warrant are described as well as three new applications are suggested, in light of its methodological potential. It is possible to conclude that this principle will find increasing applications in other contexts, within and beyond Information Science.

Nucleon flavor asymmetry in a statistical quark model

A statistical model of linear-confined quarks is applied to obtain the flavor asymmetry of the nucleon sea. The model parametrization is fixed by the experimental available data, where a temperature parameter is used to fit the Gottfried sum rule violation. Results are presented for the ratios of light quark and antiquark distributions, d/u and (d) over bar/(u) over bar.

Quark sea asymmetry of the nucleon

The light anti-quark and quark distribution in the proton, as well as the neutron to proton ratio of the structure functions, extracted from experimental data, are well fitted by a, statistical model of linear-confined quarks. The parameters of the model are given by a temperature, which is adjusted by the Gottfried sum-rule violation, and two chemical potentials given by the corresponding up (u) and down (d) quark normalizations in the nucleon. The quark energy levels are generated by a relativistic linear-confined scalar plus vector potential.

Quark sea structure functions of the nucleon in a statistical model

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

The induction of cytotoxicity, oxidative stress, and genotoxicity by root canal sealers in mammalian cells

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

TEGDMA-induced oxidative DNA damage and activation of ATM and MAP kinases

The development of strategies for the protection of oral tissues against the adverse effects of resin monomers is primarily based on the elucidation of underlying molecular mechanisms. The generation of reactive oxygen species beyond the capacity of a balanced redox regulation in cells is probably a cause of cell damage. This study was designed to investigate oxidative DNA damage, the activation of ATM, a reporter of DNA damage, and redox-sensitive signal transduction through mitogen-activated protein kinases (MAPKs) by the monomer triethylene glycol dimethacrylate (TEGDMA). TEGDMA concentrations as high as 3-5 mm decreased THP-1 cell viability after a 24 h and 48 h exposure, and levels of 8-oxoguanine (8-oxoG) increased about 3- to 5-fold. The cells were partially protected from toxicity in the presence of N-acetylcysteine (NAC). TEGDMA also induced a delay in the cell cycle. The number of THP-1 cells increased about 2-fold in G1 phase and 5-fold in G2 phase in cultures treated with 3-5 mm TEGDMA. ATM was activated in THP-1 cells by TEGDMA. Likewise, the amounts of phospho-p38 were increased about 3-fold by 3 mm TEGDMA compared to untreated controls after a 24 h and 48 h exposure period, and phospho-ERK1/2 was induced in a very similar way. The activation of both MAPKs was inhibited by NAC. Our findings suggest that the activation of various signal transduction pathways is related to oxidative stress caused by a resin monomer. Signaling through ATM indicates oxidative DNA damage and the activation of MAPK pathways indicates oxidative stress-induced regulation of cell survival and apoptosis. (C) 2008 Elsevier Ltd. All rights reserved.

Strangeness content and structure function of the nucleon in a statistical quark model

The strangeness content of the nucleon is determined from a statistical model using confined quark levels, and is shown to have a good agreement with the corresponding values extracted from experimental data. The quark levels are generated in a Dirac equation that uses a linear confining potential (scalar plus vector). With the requirement that the result for the Gottfried sum rule violation, given by the New Muon Collaboration (NMC), is well reproduced, we also obtain the difference between the structure functions of the proton and neutron, and the corresponding sea quark contributions.

Statistical quark model for the nucleon structure function

A statistical quark model, with quark energy levels given by a central linear confining potential is used to obtain the light sea-quark asymmetry, d̄/ū, and also for the ratio d/u, inside the nucleon. After adjusting a temperature parameter by the Gottfried sum rule violation, and chemical potentials by the valence up and down quark normalizations, the results are compared with experimental data available. © 2009 American Institute of Physics.

Improved statistical quark model for the nucleon structure function

An improved statistical quark model, with quark energy levels given by a central linear confining potential, is used to obtain the light sea-quark asymmetry, d̄/ū, and also for the corresponding difference d̄-ū, inside the nucleon. In the model, a temperature parameter is adjusted by recent results obtained for the Gottfried sum rule violation, with two chemical potentials adjusted by the valence up and down quark normalizations. The results are compared with available recent experimental data. © 2010 American Institute of Physics.

Statistical quark models for the nucleon structure functions

We consider some existing relativistic models for the nucleon structure functions, relying on statistical approaches instead of perturbative ones. These models are based on the Fermi-Dirac distribution for the confined quarks, where a density of energy levels is obtained from an effective confining potential. In this context, it is presented some results obtained with a recent statistical quark model for the sea-quark asymmetry in the nucleon. It is shown, within this model, that experimental available observables, such as the ratio and difference between proton and neutron structure functions, are quite well reproduced with just three parameters: two chemical potentials used to reproduce the valence up and down quark numbers in the nucleon, and a temperature that is being used to reproduce the Gottfried sum rule violation. © 2010 American Institute of Physics.