Essays on banking theory and history of financial arrangements

Esta tese contém dois capítulos, cada um lidando com a teoria e a história dos bancos e arranjos financeiros. No capítulo 1, busca-se extender uma economia Diamond-Dybvig com monitoramento imperfeito dos saques antecipados e realizar uma comparação do bem estar social em cada uma das alocações possíveis, como proposto em Presscott and Weinberg(2003). Esse monitoramento imperfeito é implementado a partir da comunicação indireta ( através de um meio de pagamento) entre os agentes e a máquina de depósitos e saques que é um agregado do setor produtivo e financeiro. A extensão consiste em estudar alocações onde uma fração dos agentes pode explorar o monitoramento imperfeito e fraudar a alocação contratada ao consumirem mais cedo além do limite, usando múltiplos meios de pagamento. Com a punição limitada no período de consumo tardio, essa nova alocação pode ser chamada de uma alocação separadora em contraste com as alocações agregadoras onde o agente com habilidade de fraudar é bloqueado por um meio de pagamento imune a fraude, mas custoso, ou por receber consumo futuro suficiente para tornar a fraude desinteressante. A comparação de bem estar na gama de parâmetros escolhida mostra que as alocações separadoras são ótimas para as economias com menor dotação e as agregadoras para as de nível intermediário e as ricas. O capítulo termina com um possível contexto histórico para o modelo, o qual se conecta com a narrativa histórica encontrada no capítulo 2. No capítulo 2 são exploradas as propriedade quantitativas de um sistema de previsão antecedente para crises financeiras, com as váriaveis sendo escolhidas a partir de um arcabouço de ``boom and bust'' descrito mais detalhadamente no apêndice 1. As principais variáveis são: o crescimento real nos preços de imóveis e ações, o diferencial entre os juros dos títulos governamentais de 10 anos e a taxa de 3 meses no mercado inter-bancário e o crescimento nos ativos totais do setor bancário. Essas variáveis produzem uma taxa mais elevada de sinais corretos para as crises bancárias recentes (1984-2008) do que os sistemas de indicadores antecedentes comparáveis. Levar em conta um risco de base crescente ( devido à tendência de acumulação de distorções no sistema de preços relativos em expansões anteriores) também provê informação e eleva o número de sinais corretos em países que não passaram por uma expansão creditícia e nos preços de ativos tão vigorosa.

O desafio na contratação e elaboração de projetos para execução de obras rodoviárias: “o fator projeto”

O Governo brasileiro criou a partir de 2007 o PAC – Programa de Aceleração do Crescimento, um conjunto de projetos de infraestrutura no qual o DNIT ocupa posição de destaque com volume de recursos superior a R$ 58 bilhões. Desde o início do Programa o principal obstáculo é a insuficiência de projetos de qualidade. Projetos de engenharia são etapa crucial para o lançamento de licitações para obras de infraestrutura. Este gargalo de projeto, associado ao processo licitatório, é chamado de “fator projeto”. Em 2011 foi instituído o RDC – Regime Diferenciado de Contratações com o objetivo de remover estes entraves. Este trabalho surge da necessidade da Secretaria do Programa de Aceleração do Crescimento, vinculada ao Ministério do Planejamento, e do Departamento Nacional de Infraestrutura de Transportes, vinculado ao Ministério dos Transportes, de entender os desafios impostos pelo “fator projeto” na execução dos projetos relacionados às obras rodoviárias no âmbito do PAC. Para tanto, foram analisados os aspectos de contratação pela Administração Pública, enfatizando as mudanças ocorridas no processo licitatório corridas depois da vigência do Regime Diferenciado de Contratação (RDC) e as formas contemporâneas de relacionamentos pré-contratuais, abordando as parcerias publico-privadas (PPP), as manifestações de interesse da iniciativa privada (PMI) e os diálogos concorrenciais. Após uma apresentação do DNIT e do processo de institucionalização do RDC no âmbito da autarquia concluiu-se que três aspectos tem contribuído para minimizar os efeitos do “fator projeto”: O primeiro, de natureza procedimental, está diretamente relacionado com o efeito da implementação do novo regime licitatório. Em projetos complexos, como os da área de infraestrutura, o desenvolvimento de relações pré-contratuais trazem ganhos consideráveis, tanto para Administração Pública quanto para o ente privado, por promover a redução das assimetrias de informação e a lapidação do objeto a ser contratado. O segundo aspecto está relacionado com a natureza do DNIT. Trata-se de uma Autarquia com acúmulo de conhecimentos na área de engenharia e gestão de projetos. Ao adotar intensamente o RDC, mostrou capacidade instalada e avançou nos parâmetros de monitoramento e gestão de risco e gerou um conjunto normativo atual e adequado para enfrentar os desafios do novo regime de contrações. O terceiro aspecto também está relacionado com o aspecto institucional do DNIT. Trata-se de sua estrutura organizacional, que influencia a governança dos processos licitatórios e que agrega dois predicados: segurança na responsabilização entre os diretores-membros quando partilham uma decisão e salvaguarda do corpo técnico para uma postura mais republicana. Estes tres aspectos levaram a uma maior eficácia e efetividade da Autarquia, minimizaram o "fator projeto". O Relatório de Gestão do DNIT de 2012 cita que no RDC há a redução de até 50% no tempo do processo licitatório em relação às modalidades concorrência e Tomada de Preços. A implementação do RDC Eletrônico, que possibilita a participação de empresas de todo o país, aumentou a competitividade e ajudou a executar R$ 10,2 bilhões em obras e serviços em infraestrutura de transportes.

Comparison and analysis of corporate social responsibility (CSR) reports of the top five companies ranked on the 2013 CSR RepTrak

In the 1970s, Corporate Social Responsibility (CSR) was discussed by Nobel laureate Milton Friedman in his article “The Social Responsibility of Business Is to Increase Its Profits.” (Friedman, 1970). His view on CSR was contemptuous as he referred to it as “hypocritical window-dressing” a reflection of the view of Corporate America on CSR back then. For a long time short-term maximization of shareholder value was the only maxim for top management across industries and companies. Over the last decade, CSR has become a more important and relevant factor of a company’s reputation, shifting the discussion from whether CSR is necessary to how best CSR commitments should be done (Smith, 2003). Inevitably, companies do have an environmental, social and economic impact, thereby imposing social costs on current and future generations. In 2013, 50 of the world biggest companies have been responsible for 73 percent of the total carbon dioxide (CO2) emission (Global 500 Climate Change Report 2013). Post et al. (2002) refer to these social costs as a company’s need to retain its “license to operate”. In the late 1990s, CSR reporting was nearly unknown, which drastically changed during the last decade. Allen White, co-founder of the Global Reporting Initiative (GRI), said that CSR reporting”… has evolved from the extraordinary to the exceptional to the expected” (Confino, 2013). In confirmation of this, virtually all of the world’s largest 250 companies report on CSR (93%) and reporting by now appears to be business standard (KPMG, 2013). CSR reports are a medium for transparency which may lead to an improved company reputation (Noked, 2013; Thorne et al, 2008; Wilburn and Wilburn, 2013). In addition, it may be used as part of an ongoing shareholder relations campaign, which may prevent shareholders from submitting Environmental and Social (E&S)1 proposals (Noked, 2013), based on an Ernst & Young report 1 The top five E&S proposal topic areas in 2013 were: 1. Political spending/ lobbying; 2. Environmental sustainability; 3. Corporate diversity/ EEO; 4.Labor/ human rights and 5. Animal testing/ animal welfare. Three groups of environmental sustainability proposal topics of sub-category number two (environmental sustainability) 6 2013, representing the largest category of shareholder proposals submitted. PricewaterhouseCoopers (PwC) even goes as far as to claim that CSR reports are “…becoming critical to a company’s credibility, transparency and endurance.” (PwC, 2013).

Caminhos de sobrevivência institucional: a gestão do núcleo de oficinas e artes profissionalizantes laís aderne

The object of this study is the organizational management, particularly the relational processenvironment organization focused on the survival of the space Department of the Arts and Crafts Mestre Raimundo Cardoso linked to the structural arrangement of the Liceu do Paracuri.. Aimed to understand the ways of organizational survival, from the actors' perception of the Center for Arts Career Workshops and Lais Aderne, with investments that discuss the theoretical models of management, institutional theory, cultural organization and institutionalization of public education requirement of the municipal light LDB. (1996) used a qualitative approach with a view to RICHARDSON (1985). The data generated were analyzed based on the technique of content analysis, the thematic type [categorical] Bardin (1977). The results indicate that the institutionalization of the arrangement of the Liceu do Paracuri emerges meet the legal requirement of the autonomy of municipal educational administration under the aegis of sustainable development, quality of life and basic education from the municipal Hélio Gueiros (1993-1996 ). More specifically the Center for Arts and Crafts Laís Aderne, the unit of analysis, the subjects said that this space is designed as a link between the demands of school and community searching through interdisciplinary activities educate and train manpower mainly potter. They did mention the existence of institutional factors (history, culture, habits, values) represent a strong socio-cultural element to the actors belonging to the core that guides behavior and actions of these individuals, fueled by a sense of hope, inclusion of future artisans in culture ceramist. It made a shared management, the existence of a unique work through cultural revival. However, over the course of time, the core is faced with dilemmas of managing transitions mainly regarding governmental, technological beyond endurance by the craftsmen for the optimization of their work. The conclusion - that the paths chosen for the organizational survival of the core meaning and guiding their actions in the systematization of conduct, representations, memories and traditions through habits and choices of consensus, the viewpoint of the actors

Características físicas, somatotipo e desempenho de corredores de 100 e 400 metros no Rio Grande do Norte

Objective: The aim of the study was to investigate physical characteristics and to examine association between somatotype and performance in collegiate runners of 100 m and 400 m. Methods: The sample, male runners (n=39) competing at the regional level in the state of Rio Grande do Norte, Brazil, had height, body mass, skinfolds, limb circumference and skeletal breadths measured. Then, the somatotype was calculated by Health-Carter method. Races (100 m and 400 m) were held to assess athletic performance. Descriptive statistics were calculated for the total sample, as well as for the 100 m and 400 m groups, and established four subgroups, named quartiles. For analysis between groups of runners (100 m x 400 m) was used Student's t test for independent samples. To examine the relationship between the race times and anthropometric variables, was used the Pearson correlation test. The somatotype dispersion distance and somatotype spatial distance were calculated among subgroups. One-way analysis of variance, the Wilcoxon test followed of Tukey post test, and correlation analysis were used with a significance level of p<0.05. Results: Somatotype with mesomorphy and ectomorphy dominance was exhibited by 100 m and 400 m athletes. Endomorphy was low in both groups, especially in 400m runners, who had more elongated body types than 100 m runners. When separately compared by athletic performance quartile, 100 m sprinters of better qualifications (G100-G1) had somatotype with dominant mesomorphy, whereas 400 m runners had somatotype with dominant ectomorphy. A significant correlation (r = -0.55, p=0.008) between calf circumference and 100 m race times was observed showing the importance of muscularity, whereas a significant correlation was found between height and 400 m race times (r = -0.53, p=0.02) showing the importance of linearity. Conclusion: Runners of 100 and 400 may show differences in physical characteristics, depending on the level of athletic performance. Anthropometric periodic evaluations may help in the training process of these athletes. However, more specific assessment parameters should be taken into account, because somatotype by itself has not power to predict whether an individual will succeed in racing speed

Aptidão física e psicológica relacionada à saúde de policiais militares da cidade de Natal

condições de saúde são questões que precisam ser investigadas na nossa sociedade. Diante da inexistência de estudos que abordem os aspectos psicológicos e físicos desses profissionais, tornou-se necessário e relevante esta investigação para a área de segurança pública num contexto multidisciplinar. O estudo objetivou verificar as características da aptidão física e psicológica relacionada à saúde de policiais militares do Batalhão de Atividades Policiais Especiais (BOPE), da Polícia Militar do Rio Grande do Norte. A amostra selecionada de forma aleatória foi composta de 64 militares de diferentes graduações, do sexo masculino com idade média de 26,2±2,6 anos. Foram utilizados como instrumentos de medida o Questionário de Saúde Geral de Goldberg para avaliar a saúde geral; uma balança digital da marca Techline®, e estadiômetro portátil da marca Sanny® para avaliar a massa corporal e a estatura; fita antropométrica metálica Sanny® para avaliar a perimetria (circunferência do braço contraído, circunferência da panturrilha); paquímetro Sanny® para avaliar os diâmetros ósseos (bi-epicondilar umeral e bi-epicodilar femural); adipômetro Harpender® para avaliar a espessura das dobras cutâneas; dinamômetro manual Jamar para avaliar a força de preensão manual; flexímetro Sanny®, fotocélulas CEFISE modelo Speed Test Fit e o YoYo Intermitent Recovery Test para avaliar o desempenho físico ( flexibilidade, agilidade, velocidade e endurance anaeróbica). Os participantes apresentaram valores elevados para risco de distúrbio ou mesmo a presença de distúrbio, no que se refere à saúde geral; o grupo estudado é classificado como mesoendomorfico, predominando características de endurance aeróbico e anaeróbico e força que foram relacionadas com os aspectos psicológicos. O perfil somatotípico meso-endomorfo parece interferir nos elevados riscos de distúrbios psicológicos advindos da atividade laboral exigida, apesar dos mesmos apresentarem um bom desempenho físico

Estudo da correlação das características dermatoglífica e somatotípica com as qualidades físicas das atletas de voleibol da Seleção Infanto-juvenil do Estado do Rio Grande do Norte

The purpose of the present study is to identify the dermatoglyphic and somatotypic characteristics and the physical qualities of athletes from the under-17 State volleyball team, in Rio Grande do Norte, Brazil. The sample was composed of athletes, n = 14, aged 15.0 ± 0.88 years, weight (Kg) 58.3 ± 5.90 and height (cm) 169.4 ± 7.97, members of the referred team. For data collection Cummins & Midlo s (1942), o dermatoglyphic method and Heath & Carter s (1967) somatotypic method were used and to evaluate physical qualities, 2400m, 50m, Shuttle Run, abdominal , Sargent test and medicine-ball toss were performed. Fingerprints show that the group presents genetic predisposition for the following physical qualities: explosive force and velocity. As to somatotype, the group was endo-ectomorphic. At physical evaluation the group presented low Vo2 max values and reasonable levels of explosive force, local muscular endurance, agility and velocity. We conclude that: according to the dermatoglyphic model observed, the group needs training strategies to improve coordination and agility; somatotype reveals the necessity for reducing fat levels and increasing muscular mass; the evaluation of physical qualities demonstrates the need for better physical preparation. This study traces the profile of the under-17 volleyball player from Rio Grande do Norte, with respect to genetic and somatotypic aspects and physical qualities, which will serve as a parameter for future state teams

The Beatles: ensaio sobre a ética do amor

The thesis intends to discuss the ethics by the way of love. So, it uses as a mention the musical work and the set of attitudes of the group that changed the way of thinking across the 20th Century mass-comm, entering a new way of thinking about the World: The Beatles. Analyzing the lyrics and the writing of the songs was searched the comprehension of he intrinsic love message at the Ethics it expresses. At the musical art of The Beatles political messages had been announced in a time that the World sought a Ethic way beyond the several declared war and the Cold War. Taking the Edgar Morin works as a base, O método 6, Ética (2005), it sought to understand the idea who permeates the human relations: the good, the possible, the necessary. Another works used as a cognitive base were Meus demônios (2003), Cultura de massas no Século XX: neurose (2005), Cultura de massas no Século XX (2006), The Beatles Anthology (2000) and Many years from now (2000). Holding the Ethics idea showed by Morin were established imaginary lines that perpass the behavior of the group known in the entire World understood till nowadays as tolerance, comprehension, peace, love and endurance messengers. The Beatles operate during the sixties a musical reborn, which allowed to the people the discussion and the reflexion about the World and the human being new behavior,endurance but acting with tolerance. Permeating the basic study, we find the Beatles way, the group origin, the fast walk till success, the spiritual choice, who guide their behavior and the end of the band. The music used as a masscomp instrument passes by the condition of a simple way of communicating. It deeply action feeds feelings, allows transcendence and is showed as target of human being transformation. The Ethics in music passes by the ideological barriers and becomes to comprehension with a clear synthony for the man, cause the polyphony and the new musical order establish the messages worldwide

Causes of death of thoroughbred racehorses at Octavio Dupont Veterinary Hospital, Brazilian Jockey Club, Rio de Janeiro

Existem poucas pesquisas que abordam estudos epidemiológicos de mortes em cavalos de corrida de uma forma ampla. A maioria restringe-se a uma afecção ou procedimento específico. O Brasil não possui um programa de monitoramento de mortes instituído. Através de um estudo descritivo em associação a metodologia multivariada de análise, realizou-se um estudo epidemiológico de causa mortis relacionadas com afecções musculosqueléticas (MS), gastrointestinais (GI), sistema respiratório (RES), neurológico (NEU) e mortes súbitas (SD) durante os anos de 2002 a 2008 no Hospital Octavio Dupont, Rio de Janeiro. Os machos representaram o sexo mais afetado e a causa mortis relacionada com a taxa geral de mortalidade por grandes grupos de causas determinadas apresentou a seguinte ordem decrescentemente: MS>GI>SD>NEU>RES. A maioria dos óbitos registrados foi de cavalos na faixa etária de quatro a cinco anos (ID4-ID5). Seguidamente, observaram-se as seguintes relações de correspondência: (Triênio = SM-ID>5-SD; ID>5-GI; ID4-5-MS; SF-ID<4-RES/NEU); (Quatriênio = SM - ID>5 - GI; SF - ID<4 - NEU; ID4-5 - MS; GI - ID>5). O presente estudo aponta a importância e necessidade de estudos epidemiológicos sobre lesões em cavalos atletas, objetivando o diagnostico, reconhecimento de fatores predisponentes e prevenção.

Livre expressão :para que te quero? o interesse público no ensino do Jornalismo

The main objective of this research was studying the meanings of the freedom of expression and what professors of Journalism think about the way those meanings are used in pedagogical practices. The term freedom of expression is commonly used in journalism even though it is not so studied, consequently we don t have a word to define it. Therefore, we related the term freedom of expression in Journalism teaching to the condition as the object of this study, aiming to establish a connection among the term, the right, free expression and the endurance of the right. The theorical support to understand the dynamic of the meanings of the freedom of expression in the social practice of Journalism teaching was based in the Hegeliana dialetic theorical principles and in the language philosophy more specifically in Bakhtin s perspective from which we can mention the social auditorium, immediate conditions of production and a wider social horizon as the main categories of analysis. This study is a qualitative research with an interacionist perspective anchored in a semi-structured interview as a privileged method of data collecting made with ten professors from Journalism graduation. The analysis reveals that, in the interviewers perspective, there would be a deceiving practice from freedom of expression in the journalism teaching in which emerges either in speeches with handbills spreading the fear and/or under a stimulus form to concealment

Reposição eletrolítica sobre variáveis fisiológicas de cavalos em provas de enduro de 30 e 60km

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Efeitos da laserterapia de baixa potência sobre a fadiga do músculo quadríceps de indivíduos jovens

The objective of this study was to evaluate the effect of low laser power on the performance of anaerobic endurance of the quadriceps muscle in young subjects. Low-level laser therapy (LLLT) appears to decrease some indices of muscle fatigue. Most of these effects may be due to the influence of the laser on the muscles predominantly aerobic. Animal studies and clinical trials have already shown that the laser can improve the efficiency of mitochondrial metabolism for the resynthesis of adenosine triphosphate and thus slow down - or minimize, the deleterious effects of muscle fatigue. This research was characterized as an experimental study of the controlled clinical trial, randomized, blinded, attended by 93 volunteers, military, with ages between 18 and 19 years. The subjects were randomly allocated into three groups: Control (G1), Placebo (G2) and Laser (G3). All volunteers underwent an anthropometric assessment and a protocol Fatigue. This protocol was applied to an initial assessment (AV-1) for the collection of baseline data, and a final evaluation (AV-2). As the study variables, we used the blood lactate concentrations and indices of muscle power, as average power and peak velocity. The fatigue protocol consisted of a test of speed with twenty repetitions, performed on an exercise machine leg press 45º . In conclusion, it was found that, in this study, LLLT caused a significant increase in the Average of the Averages Powers, phase eccentric exercise in leg press 45º performed by young individuals

Isoenzimas na diferenciação de sementes de três espécies do gênero Euterpe

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

Recuperação e purificação de proteínas do soro de queijo tipo coalho usando cromatografia de troca iônica e interação hidrofóbica em leito na forma expandida

Expanded Bed Adsorption plays an important role in the downstream processing mainly for reducing costs as well as steps besides could handling cells homogenates or fermentation broth. In this work Expanded Bed Adsorption was used to recover and purify whey proteins from coalho cheese manufacture using Streamline DEAE and Streamline SP both ionic resins as well as a hydrophobic resin Streamline Phenyl. A column of 2.6 cm inner diameter with 30 cm in height was coupled to a peristaltic pump. Hydrodynamics study was carried out with the three resins using Tris-HCl buffer in concentration of 30, 50 and 70 mM, with pH ranging from 7.0 to 8.0. In this case, assays of the expansion degree as well as Residence Time Distribution (RTD) were carried out. For the recovery and purification steps, a whey sample of 200 mL, was submitted to a column with 25mL of resin previously equilibrated with Tris/HCl (50 mM, pH 7.0) using a expanded bed. After washing, elution was carried out according the technique used. For ionic adsorption elution was carried out using 100 mL of Tris/HCl (50 mM, pH 7.0 in 1M NaCl). For Hydrophobyc interaction elution was carried out using Tris/HCl (50 mM, pH 7.0). Adsorption runs were carried out using the three resins as well as theirs combination. Results showed that for hydrodynamics studies a linear fit was observed for the three resins with a correlation coefficient (R2) about 0.9. In this case, Streamline Phenyl showed highest expansion degree reaching an expansion degree (H0/H) of 2.2. Bed porosity was of 0.7 when both resins Streamline DEAE and Streamline SP were used with StremLine Phenyl showing the highest bed porosity about 0.75. The number of theorical plates were 109, 41.5 and 17.8 and the axial dipersion coefficient (Daxial) were 0.5, 1.4 and 3.7 x 10-6 m2/s, for Streamline DEAE, Streamline SP and Streamline Phenyl, respectively. Whey proteins were adsorved fastly for the three resins with equilibrium reached in 10 minutes. Breakthrough curves showed that most of proteins stays in flowthrough as well as washing steps with 84, 77 and 96%, for Streamline DEAE, Streamline SP and Streamline Phenyl, respectively. It was observed protein peaks during elution for the three resins used. According to these peaks were identified 6 protein bands that could probably be albumin (69 KDa), lactoferrin (76 KDa), lactoperoxidase (89 KDa), β-lactoglobulin (18,3 KDa) e α-lactoalbumin (14 KDa), as well as the dimer of beta-lactoglobulin. The combined system compound for the elution of Streamline DEAE applied to the Streamline SP showed the best purification of whey proteins, mainly of the α-lactoalbumina