Chemical and physical characterization of mume fruit collected from different locations and at different maturity stages in São Paulo State

Prunus mume is widely studied due to its health benefits regarding increase of blood fluidity and consequent improvement of the cardiovascular system and the prevention or even the fight against different types of cancer. However, in Brazil this culture is found only among oriental descendants. The present study aimed to characterize mume fruit collected from three different locations in the State of São Paulo regarding general aspects such as pH, total titratable acidity (TTA), total soluble solids (TTS), pectin content and yield of pulp and chemical characteristics: total phenolic compounds (TPC) and antioxidant capacity. Mume fruit were collected unripe and analyzed until maturation about 88 days after flowering. Fruit collected in Botucatu came from a commercial mume fruit producer and had average weight of 16.9 g, while in fruit from other locations weight varied from 5.7-6.9 g. TSS ranged from 9.5 to 10.0 Brix, total solids was 10.2-12.2% and pH showed values between 2.5 and 2.7 for all locations. TTA expressed in citric acid decreased from 4.0-5.7 g (100g- 1) at unripe stage to 2.0-3.8 g (100g- 1) in mature-stage fruit. Pectin content decreased from 11.2 to 10.8% during fruit maturation, TPC content was 147-226 mg catechin (g- 1) on a dry matter basis and the antioxidant capacity was 96-169 µMol Trolox (g- 1) on a dry matter basis or 21-34 µMol Trolox (g- 1) on a wet matter basis.

2014 Ukraine crisis – Implications for corporate crisis management

In the late year 2013 events started to unfold in Ukraine’s capital city Kiev that would change the political and economic environment of the EU and Russia. The tension had been building for years between the two parties with Ukraine in the middle and during 2014 the tension blew up and events started to escalate into a crisis, which we now know as the 2014 Ukraine crisis. The crisis would include political, economic, and even military actions by all the parties involved with Ukraine slipping close to civil war. Both political and economic hardships followed for others as well with both the EU and Russia placing heavy political and economic sanctions on each other. Most notably in terms of this paper, the Russian federation placed total import embargo sanctions on food imports from the EU and some other countries. This meant that a Finnish dairy company, Valio, had to engage in corporate crisis management as almost a fifth of its total revenue was cut in a heartbeat. Valio had been prepared for some kind of complications with their Russian market as events started to unfold in Ukraine in the beginning of 2014 but never did they suspect that a complete shutdown of the Russian market would follow. The company is still recovering after more than a year after the sanctions were posed and have not been able to supplement the lost revenue streams. This research is a qualitative research aiming to find answers to the main questions: 1) What is the 2014 Ukraine crisis and what kind of special implications does it have and 2) How did the crisis affect Valio and how did Valio fare in its crisis management efforts. The data has been collected both from secondary document sources and primary sources. The main findings of this research are that the political and economic environment of the EU and Russia has gone through a profound change during the years 2013-2015. The companies and governments should re-evaluate what kind of environment they are now facing and what kinds of risks the new situation poses. This also calls for a deep academic analysis from the academic community. In corporate crisis management of Valio the main findings are that the former literature has looked into crisis management as one-time occurrence but the new crises and global events would call for a more on-going crisis analysis and active crisis management. Thus, corporate crisis management should be viewed as a cycle. Valio specifically handled the situation surprisingly well, considering that their revenue was indeed cut by a fifth. The main aspects of crisis management, which Valio did not handle as well, concern the learning curve of crisis management. They could be doing more in order to prepare for future crises better by learning from this experience. The situation is then still on-going in the autumn 2015 both in Ukraine and within Valio.

Perceptions of corporate social responsibility: A case study of the perceived contents and outcomes

CSR has been subject of broad debate and research over the decades and has gained attention recently. The purpose of this thesis is to find out how companies perceive CSR. In addition this thesis is researching what is CSR in Finnish companies, how do companies measure CSR, what are the effects of CSR and how companies perceive those effects and what actors and factors support CSR. This research is a case study where altogether nine informants from seven companies were interviewed. This research is qualitative case study implemented with theme interviews. The analysis method is content analysis. Several interesting issues emerged from the empirical findings. CSR is playing pivotal role in companies values, vision and mission. CSR was perceived differently in companies but also mutual points emerged. The role of stakeholders is essential in CSR. In addition the communication with stakeholders was seen very important. Companies perceived that they can gain many benefits when acting responsibly for instance in issues related to cost reduction, reputation and personnel. However measuring these effects from CSR point of view was seen challenging. Other CSR related challenges are for example change and lack of resources. When considering empirical findings from a theoretical point of view, three interesting issues emerged. CSR reports play an important role in measuring and developing of CSR. However, this is not the case with all companies and some of them argued that reporting has too much attention nowadays when talking about CSR. The benefits of CSR are mostly related to responsive CSR. However maybe in a long-term follow-up strategic CSR related competitive advantage benefits could be more easily noticed. Many different issues supported CSR. Some issues are driven by outside of companies like NGO`s and media and some inside like the motivation of personnel and management. Vastuullista liiketoimintaa on tutkittu vuosien saatossa laajalti ja se on saanut viime vuosina erityisen paljon huomiota. Tämän pro gradu –tutkielman tavoitteena on selvittää, miten yritykset kokevat vastuullisen liiketoiminnan. Tämän lisäksi tutkimuksessa selvitetään, mitä vastuullinen liiketoiminta suomalaisissa yrityksissä tarkoittaa, miten yritykset mittaavat omaa vastuullisuuttaan, mitkä ovat vastuullisuuden vaikutukset, miten yritykset kokevat vastuullisuuden vaikutukset ja mitkä tekijät tukevat vastuullisen liiketoiminnan syntyä. Tutkimus toteutettiin haastattelemalla yhdeksää suomalaisen yrityksen yritysvastuusta vastaavaa tai sen kanssa työskentelevää henkilöä seitsemästä eri organisaatiosta loppuvuodesta 2014 ja alkuvuodesta 2015. Tutkimus on laadullinen, teemahaastatteluilla toteutettu haastattelututkimus. Aineisto on analysoitu teemoittain. Tutkimusaineiston perusteella vaikuttaa siltä, että vastuullinen liiketoiminta on tärkeässä roolissa yritysten arvoissa, visiossa ja missiossa. Yritysvastuu koettiin yrityksissä erilailla, mutta myös yhtäläisyyksiä on nähtävissä. Sidosryhmien rooli on erittäin tärkeä yritysvastuusta puhuttaessa ja myös kommunikointi sidosryhmien kanssa nousi tärkeäksi aiheeksi. Yritykset kokivat saavuttavansa monia hyötyjä vastuullisesta toiminnasta kuten kustannussäästöihin, maineeseen ja työntekijöihin liittyvissä asioissa. Näiden hyötyjen mittaaminen yritysvastuun näkökulmasta koettiin kuitenkin haasteelliseksi. Muita vastuullisuuteen liittyviä haasteita olivat esimerkiksi siihen liittyvä muutos sekä niukat resurssit. Tutkimuksen johtopäätöksistä nousi esille kolme merkittävää seikkaa. Vastuullisuusraportoinnin koettiin olevan hyödyllinen yritysvastuun mittaamisessa ja kehittämisessä. Kaikki yritykset eivät kuitenkaan olleet tätä mieltä ja osa koki raportoinnin saavan liian paljon huomiota nykypäivänä. Yritysten kokemat hyödyt vastuullisuuteen liittyen syntyivät pääosin reaktiivisesta vastuullisuudesta. Tässä kohdin on kuitenkin huomionarvoista mainita, että strategisen vastuullisuuden hyödyt olisivat saattaneet nousta paremmin esille pidemmän aikavälin tutkimuksessa. Yritysvastuun syntyä tukevia tekijöitä löytyi monia. Osa tekijöistä oli yrityksen ulkopuolisia kuten kansalaisjärjestöt ja media ja jotkut taas kumpusivat yrityksen sisältä esimerkiksi työntekijöiden ja johdon motivaatio.

Physiological maturity of seeds and colorimetry of fruits of Jatropha curcas L.

The objective was to relate the coloration of fruits of Jatropha curcas L during the maturation process with morphometric (fruits and seeds) and germinative characteristics (seeds). Fruits were collected at various maturation stages from mast trees located in Eldorado/MS, and six maturation stages were visually classified based on fruit's epicarp color. Epicarp digital colorimetry was used to characterize maturation stages in addition to morphometric variables of length and width of fruits and seeds, as well their water content. For determining the physiological potential it was used germination test, emergence velocity index and first count of germination. Results indicated that seeds of J. curcas should be harvested when fruit epicarp shows a reading equal or smaller than 82, 70 or 65 nm of red, green or blue scales from a digital color analyzer. Seeds of fruits with that colorimetry can be harvested in virtue of the maxim acumululation of dry mass, water content below 38,5% and higher physiological potential.

Physiological maturity of fruits and seeds of Poincianella pyramidalis (Tul.) L.P. Queiroz

The Leguminosae family is one of the most representative botanical families of the Caatinga, with 80 endemic species, highlighting the catingueira (Poincianella pyramidalis). The objective of this research work was to study the maturation process of P. pyramidalis seeds based on the physiological maturity. Five harvest of fruits and seeds were carried out, with 15 days interval each, in a period from July to September 2010. The harvests began 75 days after anthesis (d.a.a.) and lasted until 135 d.a.a. Fruits and seeds were subjected to the following assessments: size, moisture content, and dry mass of fruits and seeds; and germination and vigor of seeds (first count of germination, germination speed index, length and dry mass of seedling). Under the environmental conditions of municipality of Soledade, State of Paraiba, Northeast Brazil, the point of physiological maturity of P. pyramidalis seeds occurs at 125 d.a.a., when the maximum accumulation of dry mass is 1.993 g and moisture content is 21%. The ideal point of harvest is between 130 d.a.a and 135 d.a.a., before natural dehiscence, when the moisture content of seeds is between 13.0% and 5.0%.

Physiological maturity of eggplant seeds

Determination of seed physiological maturity and ideal moment for harvesting fruits to extract their seeds are important aspects to produce seeds with high quality. To identify the best period for harvesting eggplant fruits, associated with ideal resting period of the fruit for extracting seeds, an eggplant production field was installed in municipality of Ijaci, in the State of Minas Gerais, Southwestern Brazil. The fruits were harvested at periods of 49, 56, 63, 70, and 77 days after pollination (DAP). The seeds of fruits harvested in each period were manually extracted immediately after harvest or after a post-harvest resting period of seven days, under a shed. The physiological quality of seeds was assessed by tests of: germination percentage; germination and emergence speed indexes; and electrical conductivity; which were carried out in the Central Seed Laboratory, Federal University of Lavras. Electrophoretic analyses of isoenzymes: catalase (CAT); esterase (EST); superoxide dismutase (SOD); and peroxidase (PO), were also therein performed. Results of germination and vigor of seeds have showed that the best period for harvesting the fruit is around 70 DAP; and that seeds should be extracted immediately after harvest. Electrophoretic analysis of enzymes has showed immaturity for eggplant seeds, harvested after 49 DAP.

The debt crisis: a re-appraisal

The 1980s' debt crisis is a landmark in developing economies' growth and stabilization. According to the most quoted empirical articles, external shocks and vicissitudes gave rise to crisis just because of delays in stabilization policies, engendered by internal conflicts and institutional immaturity. I review some of these papers, and find out some problems - in the measurement of shocks and foreign indebtedness, namely - whose corrections lead to opposite results: external shocks and foreign indebtedness explain that crisis regardless of domestic policies. At the same time, the strong correlation of income distribution to terms of trade changes and foreign indebtedness suggest that inequality may have contributed differently to that crisis: either through an economic channel, or through a political channel based on delays in reforms.

Renegociação da dívida pública interna em condições de sobreendividamento

Renegotiation of the public debt in conditions of excessive debt. This paper studies the debt overhang models and maturity management models, and analyses both theoretically and historically the debt renegotiations which the final outcome is a lower public debt burden. From the theoretical view the renegotiation plans can be Pareto improving, both creditors and debtors can be better-off, and the value of the new debt will price the new reputation and debtors' willingness to pay. From the historical point of view, funded debts were the instrument that debtors used to improve reputation.

The contagion effect of public debt on monetary policy: the Brazilian experience

This paper attempts to explain why the Brazilian inter-bank interest rate is so high compared with rates practiced by other emerging economies. The interplay between the markets for bank reserves and government securities feeds into the inter-bank rate the risk premium of the Brazilian public debt.

External debt in developing economies: assessment and policy issues

More than one decade after the external debt restructuring (the Brady Plan), a great amount of literature has been published concerning the balance sheet factors in developing countries. The staff of international multilateral institutions joined with reputable academics in this great controversy. The external debt problem of the developing countries is back and once more reflections on its cause and on policy recommendations are analytically distinct. Our main task is to reflect on the recent external debt dynamics and assess how this debt has evolved. Our findings indicate that the susceptibility of some developing countries to default is associated with global imbalance, that is, the way they borrow.

National exchange rate policies and international debt crises: how Brazil did not follow Argentina into a default in 2001-2002

This paper examines how exchange rate policies and IMF Stand-By Arrangements affect debt crises using econometrics and a comparison between Argentina and Brazil. It refines an existing diagram outlining crisis development to propose crisis prevention strategies. Flexible exchange rate policies reduce a country's probability of default by over 4%, but Stand-By Arrangements increase it by an inconsequential percentage. Unlike Argentina, Brazil avoided a default via a freely-floating exchange rate system, fiscal deficit reduction, and a cooperative and coordinated relationship with the IMF. The results provide policymakers from developing countries with lessons to manage their countries' default risks more effectively.