The Brazilian venture capital industry and its strategic role in closing the financing gap of SMEs

This discussion paper is a contribution of the Brazilian Government to the 2006 Annual Conference of the OECD High-level Conference on "Better Financing for Entrepreneurship and SMEs" to be held in Brasilia, Brazil on 27-30 March 2006. It has been prepared by The Center for Studies in Private Equity and Venture Capital of EAESP-Fundação Getúlio Vargas under the auspices of ABDI – Agência Brasileira para o Desenvolvimento Industrial – an agency of the Ministry of Industrial Development and Foreign Trade, in cooperation with ABVCAP – The Brazilian Association of Private Equity and Venture Capital

Impact of worksite health-promotion programs in hospital admission costs and medical leaves in a sample of brazilian companies

Programas de saúde e bem-estar têm sido adotados por empresas como forma de melhorar a saúde de empregados, e muitos estudos descrevem retornos econômicos positivos sobre os investimentos envolvidos. Entretanto, estudos mais recentes com metodologia melhor têm demonstrado retornos menores. O objetivo deste estudo foi investigar se características de programas de saúde e bem-estar agem como preditores de custos de internação hospitalar (em Reais correntes) e da proporção de funcionários que têm licença médica, entre Abril de 2014 e Maio de 2015, em uma amostra não-aleatória de empresas no Brasil, através de parceria com uma empresa gestora de ‘big data’ para saúde. Um questionário sobre características de programas de saúde no ambiente de trabalho foi respondida por seis grandes empresas brasileiras. Dados retirados destes seis questionários (presença e idade de programa de saúde, suas características – inclusão de atividades de screening, educação sobre saúde, ligação com outros programas da empresa, integração do programa à estrutura da empresa, e ambientes de trabalho voltado para a saúde – e a adoção de incentivos financeiros para aderência de funcionários ao programa), bem como dados individuais de idade, gênero e categoria de plano de saúde de cada empregado , foram usados para construir um banco de dados com mais de 76.000 indivíduos. Através de um modelo de regressão múltipla e seleção ‘stepwise’ de variáveis, a idade do empregado foi positivamente associada e a idade do programa de saúde e a categoria ‘premium’ de plano de saúde do funcionário foram negativamente associadas aos custos de internação hospitalar (como esperado). Inesperadamente, a inclusão de programas de screening e iniciativas de educação de saúde nos programas de saúde e bem-estar nas empresas foram identificados como preditores positivos significativos para custos de admissão hospitalar. Para evitar a inclusão errônea de licenças-maternidade, apenas os dados de licença médica de pacientes do sexo masculino foram analisados (dados disponíveis apenas para duas entre as companhias incluídas, com um total de 18.957 pacientes do sexo masculino). Analisando estes dados através de um teste Z para comparação de proporções, a empresa com programa de saúde que inclui atividades voltadas a cessação de hábitos ruins (como tabagismo e etilismo), controle de diabetes e hipertensão, e que adota incentivos financeiros para a aderência de funcionários ao programa tem menor proporção de empregados com licençca médica no período analisado, quando comparada com a outra empresa que não tem estas características (também conforme esperado). Entretanto, a companhia com menor proporção de funcionários com licença médica também foi aquela que adota programa de screening entre as atividades de seu programa de saúde. Potenciais fontes de ameaça à validade interna e externa destes resultados são discutidas, bem como possíveis explicações para a associação entre programas de screening e educação médica a piores indicadores de saúde nesta amostra de companhias são discutidas. Novos estudos com melhor desenho, com amostras maiores e randômicas são necessários para validar estes resultados e possivelmente melhorar a validade interna e externa destes resultados.

Lifestyle factors, direct and indirect costs for a Brazilian airline company

OBJECTIVE: To analyze lifestyle risk factors related to direct healthcare costs and the indirect costs due to sick leave among workers of an airline company in Brazil. METHODS: In this longitudinal 12-month study of 2,201 employees of a Brazilian airline company, the costs of sick leave and healthcare were the primary outcomes of interest. Information on the independent variables, such as gender, age, educational level, type of work, stress, and lifestyle-related factors (body mass index, physical activity, and smoking), was collected using a questionnaire on enrolment in the study. Data on sick leave days were available from the company register, and data on healthcare costs were obtained from insurance records. Multivariate linear regression analysis was used to investigate the association between direct and indirect healthcare costs with sociodemographic, work, and lifestyle-related factors. RESULTS: Over the 12-month study period, the average direct healthcare expenditure per worker was US$505.00 and the average indirect cost because of sick leave was US$249.00 per worker. Direct costs were more than twice the indirect costs and both were higher in women. Body mass index was a determinant of direct costs and smoking was a determinant of indirect costs. CONCLUSIONS: Obesity and smoking among workers in a Brazilian airline company were associated with increased health costs. Therefore, promoting a healthy diet, physical activity, and anti-tobacco campaigns are important targets for health promotion in this study population.

Nova técnica para obtenção de fraturas com altíssima condutividade em poços de petróleo

Increase hydrocarbons production is the main goal of the oilwell industry worldwide. Hydraulic fracturing is often applied to achieve this goal due to a combination of attractive aspects including easiness and low operational costs associated with fast and highly economical response. Conventional fracturing usually involves high-flowing high-pressure pumping of a viscous fluid responsible for opening the fracture in the hydrocarbon producing rock. The thickness of the fracture should be enough to assure the penetration of the particles of a solid proppant into the rock. The proppant is driven into the target formation by a carrier fluid. After pumping, all fluids are filtered through the faces of the fracture and penetrate the rock. The proppant remains in the fracture holding it open and assuring high hydraulic conductivity. The present study proposes a different approach for hydraulic fracturing. Fractures with infinity conductivity are formed and used to further improve the production of highly permeable formations as well as to produce long fractures in naturally fractured formations. Naturally open fractures with infinite conductivity are usually encountered. They can be observed in rock outcrops and core plugs, or noticed by the total loss of circulation during drilling (even with low density fluids), image profiles, pumping tests (Mini-Frac and Mini Fall Off), and injection tests below fracturing pressure, whose flow is higher than expected for radial Darcian ones. Naturally occurring fractures are kept open by randomly shaped and placed supporting points, able to hold the faces of the fracture separate even under typical closing pressures. The approach presented herein generates infinite conductivity canal held open by artificially created parallel supporting areas positioned both horizontally and vertically. The size of these areas is designed to hold the permeable zones open supported by the impermeable areas. The England & Green equation was used to theoretically prove that the fracture can be held open by such artificially created set of horizontal parallel supporting areas. To assess the benefits of fractures characterized by infinite conductivity, an overall comparison with finite conductivity fractures was carried out using a series of parameters including fracture pressure loss and dimensionless conductivity as a function of flow production, FOI folds of increase, flow production and cumulative production as a function of time, and finally plots of net present value and productivity index

Comparative biology and production costs of Podisus nigrispinus (Hemiptera: Pentatomidae) when fed different types of prey

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Potential and costs for the production of electrolytic hydrogen in alcohol and sugar cane plants in the central and south regions of Brazil

This project verified the potential for the production of hydrogen via water electrolysis by using the exceeding electrical energy resultant from alcohol and sugar plants that use sugar cane bagasse as fuel. The studies were carried out in cogeneration plants authorized by the Electrical Energy National Agency (ANEEL). The processing history of sugar cane considered was based on the 2006/2007 harvests. The total bagasse produced, electrical energy generated and exceeding electrical energy in a year were calculated. It was obtained an average energy consumption value of 5.2 kWh Nm(-3) and the hydrogen production costs regarding the amount of sugar cane processed that ranged from US$ 0.50 to US$ 0.75 Nm(-3). The results pointed that the costs for the production of hydrogen via the bagasse exceeding energy are close to the production costs that use other sources of energy. As the energy generated from the bagasse is a renewable one, this alternative for the production of hydrogen is economical and environmentally viable. (C) 2008 International Association for Hydrogen Energy. Published by Elsevier Ltd. All rights reserved.

Estudo térmico e de materiais na construção de casas populares com blocos confeccionados a partir de um composto a base de cimento, gesso, eps e raspa de pneu

We built an experimental house on an UFRN´s land using blocks made by a composite consisting of cement, plaster, EPS, crushed rubber and sand. Several blocks were made from various compositions and we made preliminary tests of mechanical and thermal resistance, choosing the most appropriate proportion. PET bottles were used inside the block to provide thermal resistance. In this work, a second function was given to the bottles: to serve as a docking between the blocks, because the ends of the cylinders came out of each block on top as well as at the bottom, with the bottom cut, allowing to fit of the extremities of the upper cylinder of a block in the lower holes of the other one, which were formed by the cutting already mentioned. Minimum compression tests were performed according to ABNT standards for walls closing blocks (fence). With that house built, we did studies of thermal performance in order to ascertain conditions of comfort, checking external and internal temperatures in the walls and in the ambient, among other variables, such as wind speed and relative humidity. The resulting blocks provided adequate thermal insulation to the environment, where the walls presented differences up to 11.7 ºC between the outer and inner faces, getting the maximum temperature inside the house around 31 °C, within the so-called thermal comfort zone for warm climates. At the end of the experiments it was evident the effectiveness of that construction in order to provide thermal comfort in the internal environment of the house, as well as we could confirm the viability of building houses from recyclable materials, reducing the constructive costs, becoming a suitable alternative for low- incoming families. Moreover, besides the low cost, the proposal represents an alternative use of various recyclable materials, therefore considered an ecological solution

Primary power distribution systems planning taking into account reliability, operation and expansion costs

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

A transcript finishing initiative for closing gaps in the human transcriptome

We report the results of a transcript finishing initiative, undertaken for the purpose of identifying and characterizing novel human transcripts, in which RT-PCR was used to bridge gaps between paired EST Clusters, mapped against the genomic sequence. Each pair of EST Clusters selected for experimental validation was designated a transcript finishing unit (TFU). A total of 489 TFUs were selected for validation, and an overall efficiency of 43.1% was achieved. We generated a total of 59,975 bp of transcribed sequences organized into 432 exons, contributing to the definition of the structure of 211 human transcripts. The structure of several transcripts reported here was confirmed during the course of this project, through the generation of their corresponding full-length cDNA sequences. Nevertheless, for 21% of the validated TFUs, a full-length cDNA sequence is not yet available in public databases, and the structure of 69.2% of these TFUs was not correctly predicted by computer programs. The TF strategy provides a significant contribution to the definition of the complete catalog of human genes and transcripts, because it appears to be particularly useful for identification of low abundance transcripts expressed in a restricted Set of tissues as well as for the delineation of gene boundaries and alternatively spliced isoforms.

An approach using Lagrangian/surrogate relaxation for lot-sizing with transportation costs

Neste trabalho estuda-se um problema de dimensionamento de lotes e distribuição que envolve além de custos de estoques, produção e preparação, custos de transportes para o armazém da empresa. Os custos logísticos estão associados aos contêineres necessários para empacotar os produtos produzidos. A empresa negocia um contrato de longo prazo onde um custo fixo por período é associado ao transporte dos itens, em contrapartida um limite de contêineres é disponibilizado com custo mais baixo que o custo padrão. Caso ocorra um aumento ocasional de demanda, novos contêineres podem ser utilizados, no entanto, seu custo é mais elevado. Um modelo matemático foi proposto na literatura e resolvido utilizando uma heurística Lagrangiana. No presente trabalho a resolução do problema por uma heurística Lagrangiana/surrogate é avaliada. Além disso, é considerada uma extensão do modelo da literatura adicionando restrições de capacidade e permitindo atraso no atendimento a demanda. Testes computacionais mostraram que a heurística Lagrangiana/surrogate é competitiva especialmente quando se têm restrições de capacidade apertada.

Closing the SU(3)(L)circle times U(1)(X) symmetry at the electroweak scale

We show that some models with SU(3)(C)circle times SU(3)(L)circle times U(1)(X) gauge symmetry can be realized at the electroweak scale and that this is a consequence of an approximate global SU(2)(L+R) symmetry. This symmetry implies a condition among the vacuum expectation value of one of the neutral Higgs scalars, the U(1)(X)'s coupling constant, g(X), the sine of the weak mixing angle sin theta(W), and the mass of the W boson, M-W. In the limit in which this symmetry is valid it avoids the tree level mixing of the Z boson of the standard model with the extra Z(') boson. We have verified that the oblique T parameter is within the allowed range indicating that the radiative corrections that induce such a mixing at the 1-loop level are small. We also show that a SU(3)(L+R) custodial symmetry implies that in some of the models we have to include sterile (singlets of the 3-3-1 symmetry) right-handed neutrinos with Majorana masses, since the seesaw mechanism is mandatory to obtain light active neutrinos. Moreover, the approximate SU(2)(L+R)subset of SU(3)(L+R) symmetry implies that the extra nonstandard particles of these 3-3-1 models can be considerably lighter than it had been thought before so that new physics can be really just around the corner.

Costs estimates and rentability of the guava culture (Psidium guajava L Paluma cv) in Monte Alto County, São Paulo State

This work intended to calculate the rentability of the guava culture Paluma cv. in Monte Alto region-SP, estimating the costs of the implantation, maintenance, production and the gross income of this culture in the first three years of cultivation. The production system utilized refers to the cultural treatments usually used in this culture in the region. The costs estimates were based on the total operational costs methodology used by the Agricultural Economics Institute (I.E.A.). The results obtained showed that the implantation and maintenance costs of the culture, in the two first years was R$7.402,3 l/alqueire*. Considering the possibility that in guava orchard, on irrigated conditions, reach in the fourthy year a productivity of 80t/alqueire and that the current price is R$0,20/kg, it is possible to estimate the gross income around of R$16.000,00/alqueire, resulting in a net income of R$9.497,06/alqueire.

Allocation of the costs of transmission losses

An analysis of the performance of six major methods of loss allocation for generators and demands was conducted, based on pro-rata (two), on incremental factors (two), on proportional sharing (PS) (one), and on electric circuit theory (one). Using relatively simple examples which can easily be checked, the advantages and disadvantages of each were ascertained and the results confirmed using a larger sample system (IEEE-118). The discussion considers the location and size of generators and demands, as well as the merits of the location of these agents for each configuration based on an analysis of the effect of various network modifications. Furthermore, an application in the South-Southeastern Brazilian Systems is performed. Conclusions and recommendations are presented. (C) 2004 Elsevier B.V. All rights reserved.