How does foreign capital participation affect brazilian companies' performance?: investigation of foreign direct investment's impact on host country

In this dissertation, we investigate the effect of foreign capital participations in Brazilians companies’ performance. To carry out this analysis, we constructed two sets of model based on EBITDA margin and return on equity. Panel data analysis is used to examine the relationship between foreign capital ownership and Brazilian firms’ performance. We construct a cross-section time-series sample of companies listed on the BOVESPA index from 2006 to 2010. Empirical results led us to validate two hypotheses. First, foreign capital participations improve companies’ performance up to a certain level of participation. Then, joint controlled or strategic partnership between a Brazilian company and a foreign investor provide high operating performance.

On the effects of non-tariff measures on Brazilian exports

This article proposes an alternative methodology for estimating the effects of non-tariff measures on trade flows, based on the recent literature on gravity models. A two-stage Heckman selection model is applied to the case of Brazilian exports, where the second stage gravity equation is theoretically grounded on the seminal Melitz model of heterogeneous firms. This extended gravity equation highlights the role played by zero trade flows as well as firm heterogeneity in explaining bilateral trade among countries, two factors usually omitted in traditional gravity specifications found in previous literature. Last, it also proposes a economic rationale for the effects of NTM on trade flows, helping to shed some light on its main operating channels under a rather simple Cournot’s duopolistic competition framework.

On the effects of non tariff measures on Brazilian exports

This article proposes an alternative methodology for estimating the effects of non-tariff measures on trade flows, based on the recent literature on gravity models. A two-stage Heckman selection model is applied to the case of Brazilian exports, where the second stage gravity equation is theoretically grounded on the seminal Melitz model of heterogeneous firms. This extended gravity equation highlights the role played by zero trade flows as well as firm heterogeneity in explaining bilateral trade among countries, two factors usually omitted in traditional gravity specifications found in previous literature. Last, it also proposes a economic rationale for the effects of NTM on trade flows, helping to shed some light on its main operating channels under a rather simple Cournot’s duopolistic competition framework

Quasi-experimental estimates of fiscal spillovers and spatial interactions among Brazilian cities

Nós usamos a metodologia de Regressões em Descontinuidade (RDD) para estimar o efeito causal do Fundo de Participação dos Municípios (FPM) recebido por um município sobre características dos municípios vizinhos, considerando uma variedade de temas: finanças públicas, educação, saúde e resultados eleitorais. Nós exploramos a regra que gera uma variação exógena da transferência em munícipios próximos às descontinuidades no repasse do fundo de acordo com faixas de população. Nossa principal contribuição é estimar separadamente e em conjunto o efeito spillover e o efeito direto do FPM, considerando ambos municípios vizinhos ou apenas um deles próximos às mudanças de faixa. Dessa forma, conseguimos entender melhor a interação entre municípios vizinhos quando há uma correlação na probabilidade de receber uma transferência federal. Nós mostramos que a estimativa do efeito direto do FPM sobre os gastos locais diminui em cerca de 20% quando controlamos pelo spillover do vizinho, que em geral é positivo, com exceção dos gastos em saúde e saneamento. Nós estimamos um efeito positivo da transferência sobre notas na prova Brasil e taxas de aprovação escolares em municípios vizinhos e na rede estadual do ensino fundamental. Por outro lado, o recebimento de FPM por municípios vizinhos de pequena população reduz o provimento de bens e serviços de saúde em cidades próximas e maiores, o que pode ocorrer devido à redução da demanda por serviços de saúde. A piora de alguns indicadores globais de saúde é um indício, no entanto, de que podem existir problemas de coordenação para os prefeitos reterem seus gastos em saúde. De fato, quando controlamos pela margem de vitória nas eleições municipais e consideramos apenas cidades vizinhas com prefeitos de partido diferentes, o efeito spillover é maior em magnitude, o que indica que incentivos políticos são importantes para explicar a subprovisão de serviços em saúde, por um lado, e o aumento da provisão de bens em educação, por outro. Nós também constatamos um efeito positivo do FPM sobre votos para o partido do governo federal nas eleições municipais e nacionais, e grande parte desse efeito é explicado pelo spillover do FPM de cidades vizinhas, mostrando que cidades com dependência econômica do governo federal se tornam a base de sustentação e apoio político desse governo. Por fim, nós encontramos um efeito ambíguo do aumento de receita devido ao FPM sobre a competição eleitoral nas eleições municipais, com uma queda da margem de vitória do primeiro colocado e uma redução do número de candidatos, o que pode ser explicado pelo aumento do custo fixo das campanhas locais.

Tree population and community dynamics in a Brazilian tropical semideciduous forest

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Tectonic history and the biogeography of the freshwater fishes from the coastal drainages of eastern Brazil: an example of faunal evolution associated with a divergent continental margin

As drenagens costeiras do leste do Brasil correspondem a áreas de grande significado biogeográfico, apresentando um alto grau de endemismo em sua fauna de peixes. Padrões filogenéticos sugerem uma relação próxima entre os rios que correm para o Atlântico a os adjacentes das terras altas do escudo cristalino. Entretanto, pouco tem sido dito sobre a dinâmica dos processos geológicos relacionados aos eventos cladogenéticos entre estas áreas. Padrões de distribuição e filogenéticos sugerem uma íntima associação com a história geológica da margem continental passiva da América do Sul, desde o Cretáceo aos dias atuais. Soerguimentos macrodômicos, rifteamento, movimentos verticais entre blocos falhados e o recuo erosivo da margem leste sul-americana são considerados como as principais forças geológicas atuando sobre a distribuição da ictiofauna de água doce nestas áreas. A atividade tectônica associada à ruptura do Gondwana e separação da América do Sul e África criou seis megadomos que são responsáveis por configurar a maior parte do atual curso das principais bacias hidrográficas do escudo cristalino. Com exceção das bacias localizadas às margens de tais megadomos, estes rios desenvolveram longos e sinuosos circuitos sobre o antigo escudo cristalino brasileiro antes de desaguarem no então recentemente aberto Oceano Atlântico. Eventos cladogenéticos iniciais entre drenagens de terras altas do escudo cristalino e tributários do Atlântico podem estar associados com processos vicariantes desta fase inicial, e alguns táxons antigos, basais, grupos-irmão de táxons muito inclusivos e de ampla distribuição são encontrados nestas bacias hidrográficas. Mais tarde, a denudação erosiva generalizada resultou em um ajuste isostático da margem leste da plataforma. Tal ajuste, concomitantemente a reativações de antigas zonas de falha, resultou em movimentos verticais entre blocos falhados, dando origem, no sudeste do Brasil, a bacias tafrogênicas. Tais bacias, como a de Taubaté, São Paulo, Curitiba e Volta Redonda, entre outras, capturaram drenagens e fauna de terras altas adjacentes. Os peixes fósseis da Formação Tremembé (Eoceno-Oligoceno da Bacia de Taubaté) exemplificam este processo. Outros sistemas tafrogênicos de idade Terciária foram também identificados em outros segmentos da margem continental Atlântica, como na Província Borborema, no NE do Brasil, com marcada influência sobre o padrão de drenagem. Ao mesmo tempo, o recuo erosivo da margem leste da plataforma capturou sucessivamente rios de planalto, os quais se tornaram tributários atlânticos, evoluindo associados aos principais sistemas de falha. A natureza continuada destes processos explica os padrões filogenéticos e de distribuição miscigenados entre os tributários atlânticos e as terras altas do escudo cristalino adjacente, especialmente na margem sudeste do continente, representados por sucessivos, cada vez menos inclusivos, grupos irmãos, associados a eventos cladogenéticos desde o final do Cretáceo ao presente.

Burial history and porosity evolution of Brazilian upper Jurassic to tertiary sandstone reservoirs

The parameter time-depth index (TDI) is applied in this study to quantify empirically the influence of burial history on sandstone porosity evolution. The TDI, expressed in kilometers per million years of age, is defined as the area in the burial history diagram enclosed by the burial curve of the reservoir and the axes of the diagram. In practice, reservoir depths during burial history are integrated at regular time intervals of 1 m.y. The calculations exclude present-day bathymetry or paleobathymetry. Sandstone reservoirs from several sedimentary basins along the Brazilian continental margin (Santos, Campos, Espírito Santo, Cumuruxatiba, Recôncavo, Sergipe, Alagoas, and Potiguar) were analyzed to investigate the evolution of porosity against TDI. These Upper Jurassic to Tertiary sandstones lie in depths of 700 to 4900 m, and are hydrocarbon charged (oil or gas). Average porosities of most of these reservoirs were obtained from core analysis, and a few porosity data were taken from well log interpretations. Detrital constituents of the sandstones are mainly quartz, feldspar, and granitic/gneissic rock fragments. Sandstones were grouped into three main reservoir types, based on composition (detrital quartz content) and grain sorting: Type I (average quartz content <50%) are very coarse grained to conglomeratic, poorly to very poorly sorted lithic arkoses. Rock fragments are mainly granitic/gneissic and coarse grained. Type II (average quartz content ranging from 50% to 70%) are fine- to coarse-grained (pebbles absent or occurring in small percentages), moderately sorted arkoses. Type III (average quartz content >80%) are fine to coarse, moderately to poorly sorted quartz arenites or subarkoses. Plots of average porosity against depth show great dispersion in porosity values; such dispersion is mostly due to differences in the reservoir burial histories. However, plotting porosity values against the TDI for individual reservoir types produces well-defined trends. The decrease in porosity is less marked in Type III reservoirs, intermediate in Type II, and faster in Type I. Such plots suggest that it is possible to make relatively accurate porosity predictions based on reservoir TDI, texture, and composition,: within the constraints of reservoir depth/age and basin tectonics analyzed in this study.

Artificial reefs and their effects on fish assemblages in a Brazilian reservoir and Tailrace

In this paper, we evaluate the effects of artificial reefs on fish assemblages in a hypereutrophic reservoir and in the lotic zone immediately below dam. Fish diversity was highest in the lotic zone relative to the reservoir. We also found an inverse relationship between diversity and distance from the river margin. Catches near the artificial reefs were more diverse than in control areas. A seasonal effect, possibly caused by variation in temperature, was significant in all comparisons. We argue that, in a scale of local effects, the ecological function of these structures would be similar to refuges.

Gingival margin alterations and the pre-orthodontic treatment amount of keratinized gingiva

The purpose of this retrospective study was to associate the amount of keratinized gingiva present in adolescents prior to orthodontic treatment to the development of gingival recessions after the end of treatment. The sample consisted of the intra-oral photographs and orthodontic study models from 209 Caucasian patients with a mean age of 11.20 ± 1.83 years on their initial records and 14.7 ± 1.8 years on their final records. Patients were either Angle Class I or II and were submitted to non-extraction orthodontic treatment. Gingival recession was evaluated by visual inspection of the lower incisors and canines as seen in the initial and final study models and intra-oral photographs. The amount of recession was quantified using a digital caliper and the observed post-treatment gingival margin alterations were classified as unaltered, coronal migration of the gingival margin or apical migration of the gingival margin. The width of the keratinized gingiva was measured from the mucogingival line to the gingival margin on the pre-treatment photographs. The teeth that developed gingival recession and those that did not have their gingival margin position changed did not differ in relation to the initial amount of keratinized gingiva (3.00 ± 0.61 and 3.5 ± 0.86 mm, respectively). Paradoxically, teeth that presented a coronal migration of the gingival margin had a smaller initial amount of keratinized gingiva (2.26 ± 0.31 mm). The mean amount of initial keratinized gingiva did not predispose lower incisors and canines to gingival recession.

Detection of Streptococcus mutans and Streptococcus sobrinus in dental plaque samples from Brazilian preschool children by polymerase chain reaction

The purposes of this study were to detect S. mutans and S. sobrinus by polymerase chain reaction (PCR) amplification, and to relate their presence to the incidence of dental caries in 42 Brazilian preschool children. Dental plaque samples were collected from the cervical margin of all erupted teeth of 5-6 years old children with primary dentition, using a sterile explorer. Examination of the dmft (decayed, missing, filled teeth) index, performed following the World Health Organization (WHO) caries diagnostic criteria, showed a 2.71 score. Prevalence of S. mutans and S. sobrinus was respectively, of 85.7% and 14.3%; no dental plaque sample was either positive or negative for both bacterial species. Children harboring either S. mutans or S. sobrinus presented the same caries prevalence. PCR showed good discriminative ability for differentiation between these species, and suggested that it is a technique suitable for epidemiological studies on mutans streptococci.

A new species of Mesocoelium (Digenea: Mesocoeliidae) found in Rhinella marina (Amphibia: Bufonidae) from Brazilian Amazonia

ABSTRACT: Mesocoelium lanfrediae sp. nov. (Digenea: Mesocoeliidae) inhabits the small intestine of Rhinella marina (Amphibia: Bufonidae) and is described here, with illustrations provided by light, scanning electron microscopy and molecular approachs. M. lanfrediae sp. nov. presents the typical characteristics of the genus, but is morphometrically and morphologically different from the species described previously. The main diagnostic characteristics of M. lanfrediae sp. nov. are (i) seven pairs of regularly-distributed spherical papillae on the oral sucker, (ii) ventral sucker outlined by four pairs of papillae distributed in a uniform pattern and interspersed with numerous spines, which are larger at the posterior margin and (iii) small, rounded tegumentary papillae around the opening of the oral sucker, which are morphologically different from those of the oral sucker itself, some of which are randomly disposed in the ventrolateral tegumentary region of the anterior third of the body. Addionally, based on SSU rDNA, a phylogenetic analysis including Brachycoeliidae and Mesocoeliidae taxa available on GenBank established the close relationship between M. lanfrediae sp. nov. and Mesocoelium sp.

Reproductive site selection in the leaf-frog Phyllomedusa azurea Cope, 1862 (Anura: Hylidae) in altered areas of the Brazilian Cerrado

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Mid- to late-Holocene paleoceanographic changes on the southeastern Brazilian shelf based on grain size records

; High-resolution grain size analyses of three AMS (14)C-dated cores from the Southeastern Brazilian shelf provide a detailed record of mid- to late-Holocene environmental changes in the Southwestern Atlantic Margin. The cores exhibit millennial variability that we associate with the previously described southward shift of the Inter Tropical Convergence Zone (ITCZ) average latitudinal position over the South American continent during the Holocene climatic maximum. This generated changes in the wind-driven current system of the SW Atlantic margin and modified the grain size characteristics of the sediments deposited there. Centennial variations in the grain size are associated with a previously described late-Holocene enhancement of the El Nino-Southern Oscillation (ENSO) amplitude, which led to stronger NNE trade winds off eastern Brazil, favouring SW transport of sediments from the Paraiba do Sul River. This is recorded in a core from off Cabo Frio as a coarsening trend from 3000 cal. BP onwards. The ENSO enhancement also caused changes in precipitation and wind pattern in southern Brazil, allowing high discharge events and northward extensions of the low-saline water plume from Rio de la Plata. We propose that this resulted in a net increase in northward alongshore transport of fine sediments, seen as a prominent fine-shift at 2000 cal. BP in a core from similar to 24 degrees S on the Brazilian shelf. Wavelet-and spectral analysis of the sortable silt records show a significant similar to 1000-yr periodicity, which we attribute to solar forcing. If correct, this is one of the first indications of solar forcing of this timescale on the Southwestern Atlantic margin.

The Oligocene-Neogene deep-sea Columbia Channel system in the South Brazilian Basin: Seismic stratigraphy and environmental changes

The Columbia Channel (CCS) system is a depositional system located in the South Brazilian Basin, south of the Vitoria-Trindade volcanic chain. It lies in a WNW-ESE direction on the continental rise and abyssal plain, at a depth of between 4200 and 5200 m. It is formed by two depocenters elongated respectively south and north of the channel that show different sediment patterns. The area is swept by a deep western boundary current formed by AABW. The system has been previously interpreted has a mixed turbidite-contourite system. More detailed study of seismic data permits a more precise definition of the modern channel morphology, the system stratigraphy as well as the sedimentary processes and control. The modern CCS presents active erosion and/or transport along the channel. The ancient Oligo-Neogene system overlies a ""upper Cretaceous-Paleogene"" sedimentary substratum (Unit U1) bounded at the top by a major erosive ""late Eocene-early Oligocene"" discordance (D2). This ancient system is subdivided into 2 seismic units (U2 and U3). The thick basal U2 unit constitutes the larger part of the system. It consists of three subunits bounded by unconformities: D3 (""Oligocene-Miocene boundary""), D4 (""late Miocene"") and D5 (""late Pliocene""). The subunits have a fairly tabular geometry in the shallow NW depocenter associated with predominant turbidite deposits. They present a mounded shape in the deep NE depocenter, and are interpreted as forming a contourite drift. South of the channel, the deposits are interpreted as a contourite sheet drift. The surficial U3 unit forms a thin carpet of deposits. The beginning of the channel occurs at the end of U1 and during the formation of D2. Its location seems to have been determined by active faults. The channel has been active throughout the late Oligocene and Neogene and its depth increased continuously as a consequence of erosion of the channel floor and deposit aggradation along its margins. Such a mixed turbidite-contourite system (or fan drift) is characterized by frequent, rapid lateral facies variations and by unconformities that cross the whole system and are associated with increased AABW circulation. (C) 2009 Elsevier B.V. All rights reserved.

Multiproxy sedimentation patterns of sediment cores from the continental margin off northeast Brazil

Tropical regions have been reported to play a key role in climate dynamics. To date, however, there are uncertainties in the timing and the amplitude of the response of tropical ecosystems to millennial-scale climate change. We present evidence of an asynchrony between terrestrial and marine signals of climate change during Heinrich events preserved in marine sediment cores from the Brazilian continental margin. The inferred time lag of about 1000 to 2000 years is much larger than the ecological response to recent climate change and appears to be related to the nature of hydrological changes.