What if firms adjust their debt-equity ratios toward a target range?

We estimate optimal target-ranges of capital structure controlling for a series of firmspecific characteristics and accounting for the serial correlation that arises from the dynamic component of the leverage choice. Then, we empirically examine if firms adjust their leverages toward the estimated optimal ranges. Our analysis suggests that the observed behavior of firms is consistent with the notion of range-adjustment.

What happens after the Central Bank of Brazil increases the target interbank rate by 1%?

In this paper I use Taylor's (2001) model and Vector Auto Regressions to shed some light on the evolution of some key macroeconomic variables after the Central Bank of Brazil, through the COPOM, increases the target interest rate by 1%. From a quantitative perspective, the best estimate from the empírical analysis, obtained with a 1994 : 2 - 2004 : 2 subsample of the data, is that GDP goes through an accumulated decline, over the next four years, around 0.08%. Innovations to interest rates explain around 9.2% of the forecast erro r of GDP.

Especulative (sic) attack on exchange rate target zone regime : the uncertainty case

We present a continuous time target zone model of speculative attacks. Contrary to most of the literature that considers the certainty case, i.e., agents know for sure the Central Bank behavior in the future, we build uncertainty into the madel in two different ways. First, we consider the case in whicb the leveI of reserves at which the central bank lets the regime collapse is uncertain. Alternatively, we ana1ize the case in which, with some probability, the government may cbange its policy reducing the initially positive trend in domestic credito In both cases, contrary to the case of a fixed exchange rate regime, speculators face a cost of launching a tentative attack that may not succeed. Such cost induces a delay and may even prevent its occurrence. At the time of the tentative attack, the exchange rate moves either discretely up, if the attack succeeds, or down, if it fails. The remlts are consistent with the fact that, typically, an attack involves substantial profits and losses for the speculators. In particular, if agents believed that the government will control fiscal imbalances in the future, or alternatively, if they believe the trend in domestic credit to be temporary, the attack is postponed even in the presence of a signal of an imminent collapse. Finally, we aIso show that the timing of a speculative attack increases with the width of the target zone.

Toxicity of the therapeutic potassium permanganate to tilapia Oreochromis niloticus and to non-target organisms Ceriodaphnia dubia (microcrustacean cladocera) and Pseudokirchneriella subcapitata (green microalgae)

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

Sensitivity evaluation of a single-step PCR assay using Ehrlichia canis p28 gene as a target and its application in diagnosis of canine ehrlichiosis

O objetivo deste estudo foi aperfeiçoar um ensaio de PCR que amplificasse um fragmento de 843 pares de bases do gene p28 da Ehrlichia canis e compará-lo com outros dois métodos de PCR utilizados para amplificar partes do gene 16S rRNA e dsb do gênero Ehrlichia. Amostras sanguíneas foram colhidas de cães com diagnóstico clínico de erliquiose. A amplificação do gene p28 pela PCR produziu um fragmento de 843pb e esse ensaio permitiu a detecção do DNA de um parasita dentre 1 bilhão de células. Todas as amostras positivas detectadas pela PCR baseada no gene p28 foram também positivas pela nested PCR para detecção do gene 16S rRNA e também pela PCR dsb. Dentre as amostras negativas para a PCR p28, 55,3% foram co-negativas, mas 27,6% foram positivas pela PCR baseada nos genes 16S rRNA e dsb. A PCR p28 parece ser um teste útil para detecção molecular de E. canis, entretanto otimizações na sensibilidade nesta PCR são necessárias, para que esta técnica se torne uma importante alternativa no diagnóstico da erliquiose canina.

Electrical conductivity of the seed soaking solution and soybean seedling emergence

Vigor of soybean [Glycine max (L.) Merrill] seeds can be evaluated by measuring the electrical conductivity (EC) of the seed soaking solution, which has shown a satisfactory relationship with field seedling emergence, but has not had aproper definition of range yet. This work studies the relationship between EC and soybean seedling emergence both in the field and laboratory conditions, using twenty two seed lots. Seed water content, standard germination and vigor (EC, accelerated aging and cold tests) were evaluated under laboratory conditions using -0.03; -0.20; -0.40 and -0.60 MPa matric potentials, and field seedling emergence was also observed. There was direct relationship between EC and field seedling emergence (FE). Under laboratory conditions, a decreasing relationship was found between EC and FE as water content in the substrate decreased, Relationships between these two parameters were also found when -0.03; -0.20 and -0.40 MPa matric potentials were used. EC tests can be used successfully to evaluate soybean seed vigor and identify lots with higher or lower field emergence potential.

Electrical conductivity and soybean seedling emergence

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Accelerated aging and seedling field emergence in soybean

Informações sobre a relação entre resultados de testes de vigor conduzidos em laboratório e da emergência de plântulas em campo são fundamentais para a tomada de decisões pelos produtores de sementes. O presente trabalho teve por objetivo verificar a associação entre os resultados do teste de envelhecimento acelerado e a emergência de plântulas de soja [Glycine max (L.) Merrill] em campo, em diferentes safras agrícolas e épocas de semeadura. Assim, foram efetuadas as seguintes avaliações: determinação do grau de umidade das sementes; testes de germinação, de envelhecimento acelerado e de condutividade elétrica, bem como emergência de plântulas em campo. A estimativa mais precisa do desempenho das plântulas em campo foi verificada numa faixa de valores de envelhecimento acelerado > 90%, estimando emergência em campo superior a 80% (r² = 0,90). O teste de envelhecimento acelerado permitiu avaliar a emergência de plântulas de soja em campo. No entanto, à medida que as condições ambientais do local de semeadura foram desviando-se das mais adequadas, a eficiência decresceu.

Automated system of seedling image analysis (SVIS) and electrical conductivity to assess sun hemp seed vigor

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

Chemical and physical attributes of two substratum for eucalypt seedling production

This work evaluated the viability of one commercial substrate with pinus bark, vermiculite and 30% of coconut fiber for Eucalyptus grandis seedlings production under different water management: 6, 8, 10, 12 e 14 mm day(-1). In relation to the substrates, it was evaluated, before and after the seedlings production, the total content of carbon, nitrogen and organic substances, pH and EC of the extract, the content of macronutrients (P, K, Ca, S, Mg) and macronutrients (B, Fe, Mn, Cu, Zn), as well as total porosity, density and water retention. It was evaluated the macro and mcronutrients accumulation in the roots and in the aerial part of the seedlings, 105 days after sowing. It was concluded that the substrates presented some distinct properties of those cited as ideal for production in containers with irrigation and fertilization. At the end of the production process, both substrates registered nutrient content little influenced by water management what would guarantee the initial development of the plants in the field.

Seed priming improves endosperm weakening, germination, and subsequent seedling development of Solanum lycocarpum St. Hil.

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Seed germination and seedling development of white oat affected by silicon and phosphorus fertilization

Os fertilizantes silicatados tem sido cada vez mais usados na agricultura devido a inúmeros benefícios, tais como correção da acidez de solos tropicais e efeitos positivos no desenvolvimento de gramíneas. A disponibilidade de nutrientes e a nutrição de plantas desempenham papel importante na produção de sementes e podem influenciar a qualidade fisiológica de sementes de aveia-branca (Avena sativa L.). Avaliou-se a germinação de sementes e o desenvolvimento de plântulas de aveia-branca em função da adubação com silício e fósforo. O delineamento experimental foi inteiramente casualizado, em esquema fatorial 2 x 4, com seis repetições. Os tratamentos consistiram de 20 e 200 mg dm-3 de P2O5, aplicados na forma de superfosfato triplo, combinados com 0, 150, 300 e 450 mg dm-3 de Si na forma de silicato de potássio. O experimento foi realizado em casa de vegetação, conduzindo-se sete plantas por vaso, com capacidade para 15 L de terra. As panículas foram colhidas e debulhadas manualmente e, as sementes, armazenadas em sacos de papel em condições normais de ambiente. As sementes foram avaliadas quanto ao teor de água, massa de sementes, germinação, condutividade elétrica, comprimento e massa da matéria seca de plântulas. Sementes de aveia-branca com qualidade superior são produzidas com 20 mg dm-3 de P2O5, independente da dose de Si. Sementes com maior germinação e vigor são obtidas com 300 e 450 mg dm-3 de K2SiO3, respectivamente. Os comprimentos da raiz e total das plântulas foram inferiores nas doses de Si até 300 kg ha-1, porém a dose de fósforo somente afetou o desenvolvimento das plântulas de maneira distinta quando aplicada junto com a maior dose de silício.

Cruzain inhibition by hydroxymethylnitrofurazone and nitrofurazone: investigation of a new target in Trypanosoma cruzi

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