The development of the private equity industry since the 2008 financial crisis

The private equity industry was experiencing a phenomenal boom at the turn of the century but collapsed abruptly in 2008 with the onset of the financial crisis. Considered one of the worst crises since the Great Depression of the 1930s, it had sent ripples around the world threatening the collapse of financial institutions and provoking a liquidity crunch followed by a huge downturn in economic activity and recession. Furthermore, the physiognomy of the financial landscape had considerably altered with banks retracting from the lending space, accompanied by a hardening of financial regulation that sought to better contain systemic risk. Given the new set of changes and challenges that had arisen from this period of financial turmoil, private equity found itself having to question current practices and methods of operation in order to adjust to the harsh realities of a new post-apocalyptic world. Consequently, this paper goes on to explore how the private equity business, management and operation model has evolved since the credit crunch with a specific focus on mature markets such as the United States and Europe. More specifically, this paper will aim to gather insights on the development of the industry since the crisis in Western Europe through a case study approach using as a base interviews with professionals working in the industry and those external to the sector but who have/have had considerable interaction with PE players from 2007 to the present.

Tributação de energia elétrica e bem-estar social: uma análise regional

Os reflexos da tributação sobre o setor elétrico ultrapassam as questões meramente arrecadatórias de estados, municípios e União, envolvem toda a produção do país e o bem-estar de sua população. Neste contexto, e com o intuito de trazer as questões de eficiência e redistributividade ao ambiente de tributação de energia elétrica, o presente trabalho pretende apresentar um panorama da tributação atual do consumo residencial de energia elétrica, principalmente em relação ao ICMS, juntamente com um cálculo simplificado de alíquotas considerando dois modelos de tributação ótima, estabelecidos por F. R. Ramsey e Diamond e Mirrlees, a partir dos quais é possível realizar comparações em relação ao modelo atual e sintetizar uma visão nacional de uma tributação realizada em sua maior parte regionalmente. O primeiro modelo considera apenas eficiência na definição das alíquotas aplicadas aos produtos, partindo da premissa de que todos os consumidores são idênticos e não há preocupações com equidade. As elasticidades necessárias para aplicação do critério de Ramsey são estimadas a partir de dados em painel das 64 distribuidoras de energia elétrica do país, utilizando um modelo em dois estágios com variável instrumental. O segundo modelo, proposto por Diamond e Mirrlees, incorpora a equidade na modelagem, introduzindo a diferenciação entre os indivíduos.

Repercussões psico-sociais da síndrome dos ovários policísticos: estudo quali-quantitativo

BACKGROUND: Polycystic ovary syndrame (PCOS) has been shown to cause a reduction in quality of life. Little is known on the psychosocial aspects associated with PCOS, especially on women s own experiences regarding the syndrome. Therefore, the aim of this study was to analyze the psychosocial impact of PCOS by measuring the health-related quality of life and exploring the women s own experiences of PCOS. METHODS: A two-phase model of combination of quantitative and qualitative research approaches was conducted, a crass-sectional survey to pravide quantitative data on the quality of life and a qualitative approach to understand the women s experience in relation to the PC OS sympt?ms. For the first phase, 109 women with PC OS and 104 healthy contrais were evaluated with the 36-item short-form health survey (SF-36). Additionally, semi-structured interviews (n=30) were conducted to facilitate in-depth exploration of PC OS women s experience. RESUL TS: PCOS patients showed significant reductions in almost ali SF-36 domains of quality of life when compared with healthy contrais (physical function 76.5:!:20.5 and 84.6:!:15.9, respectively; physical rale function 56.4:!:43.3 and 72.6:!:33.3; general health 55.2:!:21.0 and 62.5:!:17.2; vitality 49.6:!:21.3 and 55.3:!:21.3; social function 55.3:!:32.4 and 66.2:!:26.7; emotional rale function 34.2:!:39.7 and 52.9:!:38.2; mental health 50.6:!:22.8 and 59.2:!:20.2). Thematic analysis revealed reports of feeling abnormal , sadness, afraid and anxiety. These feelings were related to four symptoms commonly experienced by women with PCOS: excess hair grawth; irregular or absent menstruation, infertility and obesity. CONCLUSIONS: Polycystic ovary syndrame impacts women both physically and psychosocially. Owing to this, women with PCOS need not only medical treatment for. the reproductive, esthetic and metabolic repercussions, but also the care of a multidisciplinary team, since PCOS is not just a physical condition, but also an important psychosocial problem that affects various aspects of a woman s life

The species of Hippolyte Leach (Crustacea, Caridea, Hippolytidae) from Terminos Lagoon, southwestern Gulf of Mexico

The taxonomic identity of specimens of the genus Hippolyte Leach, 1814 of Laguna de Términos was considered including the colour and the presence-absence of tufts of plumose setae on the dorsal surface of the carapace and abdomen as secondary characteristics to morphological features of taxonomic value. Two groups were formed based on appearance: one transparent with setae and another green without setae. The analysis of five morphological characteristics in adult females of the two groups made it possible to identify only H. zostericola (Smith, 1873). Fecundity and fertility were similar (0.5>p>0.2) in both groups. The first zoea of both groups were also morphologically similar. Considering these results, it is concluded that the only species collected was H. zoslericola and that it has two phenotypical types. It is recomended that the morphological analysis of all larval stages be carried out.

Bianisotropia uniaxial em estruturas irradiantes com multicamadas e supercondutores

This work presents a theoretical and numerical analysis of parameters of a rectangular microstrip antenna with bianisotropic substrate, and including simultaneously the superconducting patch. The full-wave Transverse Transmission Line - TTL method, is used to characterize these antennas. The bianisotropic substrate is characterized by the permittivity and permeability tensors, and the TTL gives the general equations of the electromagnetic fields of the antennas. The BCS theory and the two fluids model are applied to superconductors in these antennas with bianisotropic for first time. The inclusion of superconducting patch is made using the complex resistive boundary condition. The resonance complex frequency is then obtained. Are simulated some parameters of antennas in order to reduce the physical size, and increase the its bandwidth. The numerical results are presented through of graphs. The theoretical and computational analysis these works are precise and concise. Conclusions and suggestions for future works are presented

Antenas planares multicamadas com materiais supercondutores e fotônico para comunicações móveis

Recently, planar antennas have been studied due to their characteristics as well as the advantages that they offers when compared with another types of antennas. In the mobile communications area, the need for this kind of antennas have became each time bigger due to the intense increase of the mobile communications this sector. That needs of antennas which operate in multifrequency and wide bandwidth. The microstrip antennas presents narrow bandwidth due the loss in the dielectric generated by radiation. Another limitation is the radiation pattern degradation due the generation of surface waves in the substrate. In this work some used techniques to minimize the disadvantages (previously mentioned) of the use of microstrip antennas are presented, those are: substrates with PBG material - Photonic Bandgap, multilayer antennas and with stacked patches. The developed analysis in this work used the TTL - Transverse Transmission Line method in the domain of Fourier transform, that uses a component of propagation in the y direction (transverse to the direction real of propagation z), treating the general equations of electric and magnetic field as functions of Ey and Hy. One of the advantages of this method is the simplification of the field equations. therefore the amount of equations lesser must the fields in directions x and z be in function of components Ey and Hy. It will be presented an brief study of the main theories that explain the superconductivity phenomenon. The BCS theory. London Equations and Two Fluids model will be the theories that will give support the application of the superconductors in the microfita antennas. The inclusion of the superconductor patch is made using the resistive complex contour condition. This work has as objective the application of the TTL method to microstrip structures with single and multilayers of rectangular patches, to obtaining the resonance frequency and radiation pattern of each structure

Aplicações de arranjos de antenas de microfita com patch supercondutor

This work has as main objective the study of arrays of microstrip antennas with superconductor rectangular patch. The phases and the radiation patterns are analyzed. A study of the main theories is presented that explain the microscopic and macroscopic phenomena of superconductivity. The BCS, London equations and the Two Fluid Model, are theories used in the applications of superconductors, at the microstrip antennas and antennas arrays. Phase Arrangements will be analyzed in linear and planar configurations. The arrangement factors of these configurations are obtained, and the phase criteria and the spacing between the elements, are examined in order to minimize losses in the superconductor, compared with normal conductors. The new rectangular patch antenna, consist of a superconducting material, with the critical temperature of 233 K, whose formula is Tl5Ba4Ca2Cu9Oy, is analyzed by the method of the Transverse nTransmission Line (TTL), developed by H. C. C. Fernandes, applied in the Fourier Transform Domain (FTD). The TTL is a full-wave method, which has committed to obtaining the electromagnetic fields in terms of the transverse components of the structure. The inclusion of superconducting patch is made using the complex resistive boundary condition, using the impedance of the superconductor in the Dyadic Green function, in the structure. Results are obtained from the resonance frequency depending on the parameters of the antenna using superconducting material, radiation patterns in E-Plane and H -Plane, the phased antennas array in linear and planar configurations, for different values of phase angles and different spacing between the elements

Antenas de microfita com patch supercondutor a 212 K

This work has as main objective to study the application of microstrip antennas with patch and use of superconducting arrays of planar and linear phase. Was presented a study of the main theories that explain clearly the superconductivity. The BCS theory, Equations of London and the Two Fluid Model are theories that supported the implementation of the superconducting microstrip antennas. Arrangements phase was analyzed in linear and planar configuration of its antennas are reported factors such arrays to settings and criteria of phase and the spacing between the elements that make the arrayst was reviewed in order to minimize losses due to secondary lobes. The antenna used has a rectangular patch Sn5InCa2Ba4Cu10Oy the superconducting material was analyzed by the method of Transverse Transmission Line (TTL) applied in the field of Fourier transform (FTD). The TTL is a full-wave method, which has committed to obtaining the electromagnetic fields in terms of cross-cutting components of the structure. The inclusion of superconducting patch is made using the boundary condition, complex resistive. Are obtained when the resonant frequency depending on the parameters of the antenna, radiation pattern of E-Plan and H-Plan for the M-phase arrangements of antennas in the linear and planar configurations for different values of phase and spacing between the elements.

Rotação diferencial em estrelas do tipo solar

Stellar differential rotation is an important key to understand hydromagnetic stellar dynamos, instabilities, and transport processes in stellar interiors as well as for a better treatment of tides in close binary and star-planet systems. The space-borne high-precision photometry with MOST, CoRoT, and Kepler has provided large and homogeneous datasets. This allows, for the first time, the study of differential rotation statistically robust samples covering almost all stages of stellar evolution. In this sense, we introduce a method to measure a lower limit to the amplitude of surface differential rotation from high-precision evenly sampled photometric time series such as those obtained by space-borne telescopes. It is designed for application to main-sequence late-type stars whose optical flux modulation is dominated by starspots. An autocorrelation of the time series is used to select stars that allow an accurate determination of spot rotation periods. A simple two-spot model is applied together with a Bayesian Information Criterion to preliminarily select intervals of the time series showing evidence of differential rotation with starspots of almost constant area. Finally, the significance of the differential rotation detection and a measurement of its amplitude and uncertainty are obtained by an a posteriori Bayesian analysis based on a Monte Carlo Markov Chain (hereafter MCMC) approach. We apply our method to the Sun and eight other stars for which previous spot modelling has been performed to compare our results with previous ones. The selected stars are of spectral type F, G and K. Among the main results of this work, We find that autocorrelation is a simple method for selecting stars with a coherent rotational signal that is a prerequisite to a successful measurement of differential rotation through spot modelling. For a proper MCMC analysis, it is necessary to take into account the strong correlations among different parameters that exists in spot modelling. For the planethosting star Kepler-30, we derive a lower limit to the relative amplitude of the differential rotation. We confirm that the Sun as a star in the optical passband is not suitable for a measurement of the differential rotation owing to the rapid evolution of its photospheric active regions. In general, our method performs well in comparison with more sophisticated procedures used until now in the study of stellar differential rotation

Economic-statistical design of the (X)over-bar chart used to control a wandering process mean using genetic algorithm

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Mechanism of charge transport in castor oil-based polyurethane/carbon black composite (PU/CB)

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

O sensemaking e o Comitê Regional das Associações e Cooperativas do Artesanato Seridoense :buscando compreender um complexo de relações

The generation of direction, sensemaking, is the process where the actors start to perceive the events around them establishing and creating meanings in their actions that they play daily. At the moment where they happen the interactions in a net business-oriented between the actors are that sensemaking is generated. A business-oriented example of a relationship net is the work developed for the Committee of Associations and Regional Cooperatives of Handcraft of Seridó - CRACAS. This organization, with headquarters in the city of Caicó - Rio Grande of North exists with the objective to manage the net of craftsmen of the region of the norteriograndense Seridó. The present inquiry had as objective generality to understand the generation of sensible of the activities carried through for the organizational, inserted actors in the CRACAS in Caicó/RN, directed toward the use of the resources in its daily business-oriented. The specific objectives had been) To identify the resources used for the organizational actors of the CRACAS; b) To apprehend the way for which the craftsmen play activities directed toward the control and use of the available resources in its environment business-oriented; c) To identify the role played for the organizational actors (craftsmen) in its business-oriented daily activities; d) To understand as the organizational actors of the CRACAS they generate sensible of its business-oriented activities and finally e) To verify the principles that guide the interactions of the craftsmen. Of this process of empirical inquiry, the methodology used in the inquiry consisted of a Study of Case in the CRACAS and the seven Associations of the Embroidering it. It was concluded that sensemaking happens during the accomplishment of the activity as during the confection of the products. In accordance with craftsman the financial resources do not come from the CRACAS. One evidenced that the seven cities of the business-oriented embroidering interact as a net of the handcraft and that it exists a lack of resources and infrastructure in the associations

Self-trapping of a Fermi superfluid in a double-well potential in the Bose-Einstein-condensate-unitarity crossover

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

The effect of hydrothermal alteration on the Sr and Nd isotopic signatures of the Barra do Itapirapua Carbonatite, Southern Brazil

The Cretaceous Barra do Itapirapua carbonatite in southern Brazil experienced extensive postmagmatic hydrothermal alteration. In this article, Sr and Nd isotope ratios of coexisting samples of hydrothermally overprinted and of preserved, nonoverprinted carbonatite are presented. Hydrothermal alteration caused strong REE enrichment, leading to the formation of minerals of the bastnaesite group. In the overprinted carbonatite, Nd contents reach 4000 ppm, two orders of magnitude higher than in the fresh carbonatite, but epsilon(Nd) varies only within a range of 3.4 units. In contrast, Sr was leached from the carbonatite during the postmagmatic alteration; hence values of around 10,000 ppm in the fresh carbonatite drop to about 1000 ppm in the overprinted samples. Leaching is accompanied by a variation of Sr isotopic composition toward more radiogenic values, resulting in an increase of 15 units in epsilon(Sr). Variation of Sr isotopic composition is related to postmagmatic alteration and is decoupled from the variation of Nd isotopic composition, ruling out heterogeneities in the mantle source as the main cause of isotopic variability in the data set. Furthermore, this cannot be explained by bulk crustal contamination. A two-step model is proposed in which (1) a REE-rich, carbonatite-derived hydrothermal fluid overprinted the pristine carbonatite, causing REE-enrichment with a relative small change of isotopic composition; and (2) crust-derived hydrothermal fluids percolated the cooling carbonatite, leaching the original Sr from the carbonatite and introducing a more radiogenic Sr isotopic signature. The amounts of carbonatite-derived Nd with primitive, carbonatite-like Nd isotope ratios introduced during the first stage of hydrothermal alteration are high enough to buffer the effect of crust-derived Nd on the Nd isotopic composition of the overprinted carbonatite.

Correlation between solvation of peptide-resins and solvent properties

The solvation properties of model resin and peptide-resins measured in ca. 30 solvent systems correlated better with the sum of solvent electron acceptor (AN) and electron donor (DN) numbers, in 1:1 proportion, than with other solvent polarity parameters. The high sensitivity of the (AN+DN) term to detect differentiated solvation behaviors of peptide-resins, taken as model of heterogeneous and complex solutes, seems to be in agreement with the previously proposed two-parameter model, where the sum of the Lewis acidity and Lewis basicity characters of solvent are proposed for scaling solvent effect. Besides these physicochemical aspects regarding solute-solvent interactions, important implications of this study for the solid phase peptide synthesis were also observed. Each class of peptide-resin displayed a specific salvation profile that was dependent on the amount and the nature of the resin-bound peptide sequence. Plots of resin swelling versus solvent (AN+DN) values allowed the visualization of a maximum salvation region characteristic for each class of resin. This strategy facilitates the selection of solvent systems for optimal solvation conditions of peptide chains in every step of the entire synthesis cycle. Moreover, only the AN and DN concepts allow the understanding of rules for solvation/shrinking of peptide-resins when in homogeneous or in heterogeneous mixed solvents.