Bank relationships: effect on the availability and marginal cost of credit for firms in Argentina

The paper provides evidence on what affects at the margin the cost and availability of bank credit for firms in Argentina. We study in particular how banks use different pieces of private and public information to screen firms and overcome informational asymmetries in the credit market. Some private information is transferable, like balance sheet data. Private information generated in relationships is not. To capture the closeness of bank relationships, we resort to the concentration of bank credit and the number of credit lines in a bank. We also consider public information available in the Central de Deudores. The cost of credit is measured using overdrafts, the most expensive line of credit, at the bank that charges the highest rate for overdrafts. We find that the cost of credit is smaller for a firm with a close relationship to the marginal bank. Firms with large assets, a high sales/assets ratio, and a low debt/assets ratio pay a lower interest rate at the margin. A good credit history (no debt arrears and no bounced checks) and collateral also reduce the marginal interest rate. The availability of credit is measured by unused credit lines as a proportion of total liabilities with the main bank. The availability of credit depends positively on a close relationship with the main bank. Large assets, a high return over assets, a high sales/assets ratio, a low debt/assets ratio, a good credit history, and collateral lead to higher credit availability. Our measure of unused credit lines is less ambiguous than traditional measures like leverage, which may indicate financial distress rather than availability of credit.

ECONOMIC ANALYSIS of AMAZON RIVER PRAWN FARMING TO THE MARKETS FOR LIVE BAIT and JUVENILES IN PANTANAL, BRAZIL

The implementation of a hypothetical aquaculture facility with hatchery, nursery and grow-out earthen ponds for raising the Amazon River Prawn Macrobrachium amazonicum in the Pantanal was considered. Eight larviculture cycles per year were projected: four to produce post-larvae for stocking in grow-out bait ponds, and four to stock nursery tanks to sell juveniles as seed to grow-out farms, which produce prawns for human consumption. Annual production would be 146,880 dozen bait prawns and 2,938 thousand juveniles. The assumed sale prices were US$ 1.38 per dozen baits and US$ 15.39 per thousand juveniles. The net present value was US$ 555,890.79, internal rate of return was 48% per year, payback period was 2.4 years and benefit-cost ratio was 3.90. The breakeven price to cover total costs per dozen baits was US$ 0.70 and per thousand juveniles was US$ 17.00, indicating that the selling price assumed for juveniles in base scenario is not realistic. Net return was US$ 84,773.80. The results indicate that this activity would be a lucrative and attractive investment in the Pantanal.

Avaliação do crescimento e do custo da alimentação do pacu (Piaractus mesopotamicus Holmberg, 1887) submetido a ciclos alternados de restrição alimentar e realimentação

Avaliaram-se os efeitos da utilização de ciclos alternados de restrição alimentar e realimentação no crescimento do pacu, durante o período de engorda, e a viabilidade desta prática na produção comercial da espécie. Juvenis foram distribuídos em três tanques e submetidos a diferentes manejos alimentares, constituindo os tratamentos: A (alimentado ad libitum), B (restrição alimentar de 4 semanas, realimentado por 9 semanas) e C (6 semanas de restrição alimentar, realimentado por 7 semanas), em um total de 13 semanas por ciclo (4 ciclos experimentais). No final de cada ciclo alimentar, 20 peixes de cada tratamento foram amostrados e os dados biométricos registrados. Os valores obtidos para peso, comprimento total e fator de condição (K) foram submetidos a ANOVA e as médias comparadas pelo teste de Duncan. Os resultados mostraram que o tratamento C é o mais indicado somente para outono/inverno, promovendo maior crescimento, menor custo com ração, baixa conversão alimentar e maior receita líquida parcial. Entretanto, durante as estações mais quentes do ano (primavera/verão) outros programas de alimentação devem ser testados, utilizando-se períodos mais curtos de restrição alimentar. Quando se tratou da produção anual, o tratamento A respondeu melhor em termos de biomassa produzida, apesar do maior gasto com alimentação, visto que, com o aumento da temperatura, o crescimento dos peixes dos demais tratamentos ficou prejudicado.

Nitrogen and carbohydrate fractions on Tifton-85 pastures overseeded with annual winter and summer forage species in different seasons

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

Nitrogen and carbohydrate fractions in exclusive Tifton 85 and in pasture oversown with annual winter forage species

O experimento foi conduzido na FCAV - Campus de Jaboticabal, no período de inverno-primavera-verão de 2001-2002, com o objetivo de determinar o fracionamento de compostos nitrogenados e de carboidratos do Tifton 85 (Cynodon nlemfuensis Vanderyst x Cynodon dactylon (L.) Pers), exclusivo ou sobressemeado com forrageiras anuais de inverno. Os tratamentos testados foram: aveia preta (Avena strigosa Schreb); aveia amarela (Avena byzantina C. Koch); triticale (X Triticosecale Wittmack); aveia preta + aveia amarela; aveia preta + triticale; aveia amarela + triticale; aveia preta + aveia amarela + triticale, sobressemeados sobre Tifton 85 e, sem consorciação (testemunha). O delineamento experimental utilizado foi o de blocos completos ao acaso, com três repetições. O corte das forrageiras foi realizado a 20 cm de altura (presença de forrageiras de inverno) e 10 cm de altura (ausência das forrageiras de inverno). Foram determinados os teores de proteína bruta, carboidratos totais, e o fracionamento dos compostos nitrogenados e de carboidratos. Houve redução nos teores dos compostos químicos das espécies de forrageiras de inverno e no Tifton 85 ao longo dos períodos de avaliações. Os conteúdos de compostos nitrogenados e de carboidratos apresentaram grande variação durante os períodos avaliados, relacionando com as características morfológicas das espécies de gramineas e com a composição botânica das pastagens.

Total polyphenols from Syzygium cumini (L.) Skeels fruit extract

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Síntese de catalisadores nanoporosos na ausência total e parcial de direcionadores orgânicos para pirólise catalítica de óleos pesados e intermediários

The processing of heavy oil produced in Brazil is an emergency action and a strategic plan to obtain self-sufficiency and economic surpluses. Seen in these terms, it is indispensable to invest in research to obtain new catalysts for obtaining light fraction of hydrocarbons from heavy fractions of petroleum. This dissertation for the degree of Doctor of Philosophy reports the materials preparation that combine the high catalytic activity of zeolites with the greater accessibility of the mesoporosity, more particularly the HZSM-5/MCM-41 hybrid, done by synthesis processes with less environmental impact than conventional ones. Innovative methodologies were developed for the synthesis of micro-mesoporous hybrid material by dual templating mechanism and from crystalline zeolitic aluminosilicate in the absence of organic template. The synthesis of hybrid with pore bimodal distribution took place from one-single organic directing agent aimed to eliminate the use of organic templates, acids of any kind or organic solvents like templating agent of crystalline zeolitic aluminosilicate together with temperature-programmed microwave-assisted, making the experimental procedures of preparation most practical and easy, with good reproducibility and low cost. The study about crystalline zeolitic aluminosilicate in the absence of organic template, especially MFI type, is based on use of H2O and Na+ cation playing a structural directing role in place of an organic template. Advanced characterization techniques such as X-Ray Diffraction (XRD), Fourier Transform Infrared Spectroscopy (FTIR), Scanning Electron Microscopy (SEM), Highresolution Transmission Electron Microscopy (HRTEM), Adsorption of N2 and CO2, kinetic studies by Thermogravimetric Analysis (TGA) and Pyrolysis coupled to Gas Chromatography/Mass Spectrometry (Pyrolysis-GC/MS) were employed in order to evaluate the synthesized materials. Achieve the proposed objectives, has made available a set of new methodologies for the synthesis of zeolite and hybrid micro-mesoporous material, these suitable for catalytic pyrolysis of heavy oils aimed at producing light fraction

Care cost for pregnant and parturient women with diabetes and mild hyperglycemia

OBJETIVO: Comparar custos de hospitalização e de atenção ambulatorial em gestantes/parturientes diabéticas e com hiperglicemia leve. MÉTODOS: Estudo observacional, prospectivo, quantitativo descritivo realizado em centro de diabete perinatal em Botucatu, SP, entre 2007 e 2008. Foram estimados os custos por absorção diretos e indiretos disponíveis na instituição e os custos específicos para a doença (medicamentos e exames). As 30 gestantes diabéticas tratadas com dieta foram acompanhadas em ambulatório e 20 tratadas com dieta mais insulina foram hospitalizadas. RESULTADOS: O custo da doença diabete (para a assistência pré-natal e parto) foi de US$ 3,311.84 para as gestantes hospitalizadas e de US$ 1,366.04 para as acompanhadas em ambulatório. CONCLUSÕES: Os custos diretos e indiretos e o custo total da assistência pré-natal foram mais elevados nas gestantes diabéticas hospitalizadas enquanto os custos da assistência ao parto e hospitalização para parto e puerpério foram semelhantes. Os custos da assistência pré-natal como no parto/puerpério foram superiores aos valores pagos pelo Sistema Único de Saúde.

Factors Influencing Publication Rates of Abstracts Presented at the ADEA Annual Session & Exhibition

Factors related to the path of abstracts from presentation at a conference to publication as a full article have been analyzed in the medical field, but only a few studies have been performed in dentistry. This study investigated the rate of publication of articles based on abstracts presented at the American Dental Education Association (ADEA) Annual Session & Exhibition in 2002 and 2003 and the time lag to publication. This study also aimed to characterize the abstracts and subsequent articles and determine if there were any significant factors related to expansion of an abstract into a full manuscript. A total of 370 abstracts met the inclusion criteria and were examined for this study. Subsequent published articles were located using a standard PubMed search. Descriptive statistics and bivariate analyses were used to analyze the data collected (alpha=0.05). Results suggest that there was a low (19 percent) publication rate for articles based on abstracts presented at the meetings studied. The median time between abstract presentation and article publication was ten months. Factors that showed significant correlation to likelihood of article publication were multiple affiliations, presence of analytical statistics, and, to a lesser extent, funding. We suggest that presenters at these meetings should expand their abstracts into full manuscripts and seek to publish them in peer-reviewed journals for the benefit of the profession.

Genetic characterization of Brazilian annual Arachis species from sections Arachis and Heteranthae using RAPD markers

The genus Arachis is divided into nine taxonomic sections. Section Arachis is composed of annual and perennial species, while section Heteranthae has only annual species. The objective of this study was to investigate the genetic relationships among 15 Brazilian annual accessions from Arachis and Heteranthae using RAPD markers. Twenty-seven primers were tested, of which nine produced unique fingerprintings for all the accessions studied. A total of 88 polymorphic fragments were scored and the number of fragments per primer varied from 6 to 17 with a mean of 9.8. Two specific markers were identified for species with 2n = 18 chromosomes. The phenogram derived from the RAPD data corroborated the morphological classification. The bootstrap analysis divided the genotypes into two significant clusters. The first cluster contained all the section Arachis species, and the accessions within it were grouped based upon the presence or absence of the 'A' pair and the number of chromosomes. The second cluster grouped all accessions belonging to section Heteranthae.

Annual, seasonal and spatial variation of abundance of the shrimp Artemesia longinaris (Decapoda : Penaeoidea) in south-eastern Brazil

The influence of several environmental factors oil the abundance and spatial-temporal distribution of the shrimp Artemesia longinaris were investigated from January 1998 to December 1999 in the Ubatuba region of São Paulo State, Brazil. Collections were performed monthly in the bays of Ubatumirim (UBM), Ubatuba (UBA) and Mar Virado (MV). Six sampling transects were estabilshed in each bay, four were parallel to the shore line, and two were next to the rocky shores. A commercial shrimp fishing boat equipped with two 'double-rig' nets was used. A total of 11,503 individuals was collected, including 1633 from UBM, 6344 from UBA and 3526 from MV the majority of the captured specimens came from the deeper areas (15 to 20 m) with high salinity (34 to 36 ppt). The highest abundance of A. longinaris in Ubatuba bay was recorded in areas where fine and very fine sand comprised more than 70% of the sediment. Moreover, the abundance of A. longinaris followed a seasonal trend, being higher during the summer, when intrusions of cold South Atlantic Coastal Waters (SACW) are frequent. Thus, type of sediment, temperature and salinity are determinant factors in the distribution of A. longinaris in the studied region.

The opportunistic feeding and reproduction strategies of the annual fish Cynopoecilus melanotaenia (Cyprinodontiformes: Rivulidae) inhabiting ephemeral habitats on southern Brazil

A maioria dos peixes da família Rivulidae são popularmente conhecidos como anuais por completarem todo seu ciclo biológico em pequenos corpos de água temporários que secam obrigatoriamente em determinados períodos do ano causando a morte dos indivíduos adultos. Possuem características biológicas peculiares como pequeno porte, maturação sexual precoce, reprodução contínua, um elaborado padrão de corte e uma grande capacidade reprodutiva entre os peixes. Os rivulídeos se encontram amplamente distribuídos nas Américas do Norte, Central e Sul. Este trabalho analisou a dieta e a biologia reprodutiva de Cynopoecilus melanotaenia. Foram coletados 263 exemplares e a análise de 233 conteúdos gastrointestinais revelou uma dieta invertívora composta principalmente por microcrustáceos (Cladocera, Amphipoda e Ostracoda) e insetos imaturos (Chaoboridae, Culicidae, Syrphidae, mas principalmente larvas de Chironomidae). Foi registrada a lepidofagia na dieta dos machos. A fecundidade foi estimada pela análise de 59 pares de ovários maduros e variou entre 2 a 157 ovócitos (média, 19 ± 26[DP]). A espécie apresentou desova parcelada, uma estratégia para aumentar a chance de sobrevivência a depleções prolongadas. Este trabalho apresenta a primeira investigação sobre a biologia reprodutiva de C. melanotaenia. Os resultados encontrados sugerem a estratégia reprodutiva oportunista de C. melanotaenia e fornecem novas informações biológicas que podem contribuir para pesquisas de conservação e manutenção da espécie em seu ambiente natural.

Custo energético de construção de uma instalação para armazenagem de feno

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Anthropogenic influences on annual flux of cations and anions at meio stream basin, São Paulo State, Brazil

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

CPITN: time and cost estimates for periodontal prevention and treatment procedures.

The aim of this study was to estimate the necessary time and cost for periodontal prevention and treatment in a working population from sugar and alcohol refineries in Araraquara, SP, Brazil. A stratified sample of 528 employees aged 18-64 from administrative, industrial and agricultural staffs was examined by one examiner, previously trained, according to the community periodontal index of treatment needs (CPITN). The time required for procedures and the cost was extrapolated to the total worker population. The results showed that the estimated time required for periodontal prevention/treatment was 4527 hours. Of this time, 1783 hours were required for oral hygiene instruction, 2531 for scaling, 151 for surgery and 62 for maintenance. The cost would be US $17,655 for hiring a dentist for 8 hours/day to provide oral hygiene instruction, scaling, surgery and maintenance. However, the cost would be US $9,028 for hiring a dentist for 4 hours/day to provide surgery and maintenance and a dental hygienist for 8 hours/day to provide scaling and oral hygiene instruction. Taking into account epidemiologic, technical and economic aspects, the decision relating to manpower should be this second option.