UMA ANÁLISE DA RELAÇÃO ENTRE VARIÁVEIS MACROECONÔMICAS E O COMPORTAMENTO DAS AÇÕES DE MAIOR LIQUIDEZ DO ÍNDICE IBOVESPA

As ações de maior liquidez do índice IBOVESPA, refletem o comportamento das ações de um modo geral, bem como a relação das variáveis macroeconômicas em seu comportamento e estão entre as mais negociadas no mercado de capitais brasileiro. Desta forma, pode-se entender que há reflexos de fatores que impactam as empresas de maior liquidez que definem o comportamento das variáveis macroeconômicas e que o inverso também é uma verdade, oscilações nos fatores macroeconômicos também afetam as ações de maior liquidez, como IPCA, PIB, SELIC e Taxa de Câmbio. O estudo propõe uma análise da relação existente entre variáveis macroeconômicas e o comportamento das ações de maior liquidez do índice IBOVESPA, corroborando com estudos que buscam entender a influência de fatores macroeconômicos sobre o preço de ações e contribuindo empiricamente com a formação de portfólios de investimento. O trabalho abrangeu o período de 2008 a 2014. Os resultados concluíram que a formação de carteiras, visando a proteção do capital investido, deve conter ativos com correlação negativa em relação às variáveis estudadas, o que torna possível a composição de uma carteira com risco reduzido.

Topographic mappings and feed-forward neural networks

This thesis is a study of the generation of topographic mappings - dimension reducing transformations of data that preserve some element of geometric structure - with feed-forward neural networks. As an alternative to established methods, a transformational variant of Sammon's method is proposed, where the projection is effected by a radial basis function neural network. This approach is related to the statistical field of multidimensional scaling, and from that the concept of a 'subjective metric' is defined, which permits the exploitation of additional prior knowledge concerning the data in the mapping process. This then enables the generation of more appropriate feature spaces for the purposes of enhanced visualisation or subsequent classification. A comparison with established methods for feature extraction is given for data taken from the 1992 Research Assessment Exercise for higher educational institutions in the United Kingdom. This is a difficult high-dimensional dataset, and illustrates well the benefit of the new topographic technique. A generalisation of the proposed model is considered for implementation of the classical multidimensional scaling (¸mds}) routine. This is related to Oja's principal subspace neural network, whose learning rule is shown to descend the error surface of the proposed ¸mds model. Some of the technical issues concerning the design and training of topographic neural networks are investigated. It is shown that neural network models can be less sensitive to entrapment in the sub-optimal global minima that badly affect the standard Sammon algorithm, and tend to exhibit good generalisation as a result of implicit weight decay in the training process. It is further argued that for ideal structure retention, the network transformation should be perfectly smooth for all inter-data directions in input space. Finally, there is a critique of optimisation techniques for topographic mappings, and a new training algorithm is proposed. A convergence proof is given, and the method is shown to produce lower-error mappings more rapidly than previous algorithms.

Introduction to organisational behaviour

Introduction to Organisational Behaviour is the first truly integrated multimedia package for introductory OB modules. It provides a rigorous critique of the essential organisational behaviour topics in a creative, interactive and visual way. Key features include: - Practitioner case studies presenting real organisational dilemmas accompanied by video interviews online where the practitioners talk about approaches and solutions - Tailored tutor resources online, recognising that you have different needs - one area is designed for new OB lecturers; the other contains materials for more experienced OB lecturers - An underpinning focus on employability skills, with tips in the book on how each topic could be linked to different skills and professionally produced video demonstrations online - A global perspective reflecting today's market-place, integrated through global examples and theories including those from developing countries - Innovative learning features including ethical dilemmas, best and worst practice examples, taking your learning further, review and discussion questions, applying theory to practice and a glossary - Written by a team of experts at prestigious UK-based and international institutions - A foreword by Richard Atfield of the Higher Education Academy. Online resources For tutors: - Interviews with practitioners - Demonstrations of employability skills - Additional short and long case study per chapter with questions - Additional discussion and assignment questions - Tutorial activities - PowerPoint slides - Guidance notes - Figures and tables from the book For students: - Web links including YouTube links and links to seminal articles

Sailing close to the wind? Experiential learning in engineering education – a research driven approach

A critique of experiential learning in engineering

The madness that is the world:young activists' emotional reasoning and their participation in a local Occupy movement

The focus of this paper is young people’s participation in the Occupy protest movement that emerged in the early autumn of 2011. Its concern is with the emotional dimensions of this and in particular the significance of emotions to the reasoning of young people who came to commit significant time and energy to the movement. Its starting point is the critique of emotions as narrowly subjective, whereby the passions that events like Occupy arouse are treated as beyond the scope of human reason. The rightful rejection of this reductionist argument has given rise to an interest in under- standings of the emotional content of social and political protest as normatively con- stituted, but this paper seeks a different perspective by arguing that the emotions of Occupy activists can be regarded as a reasonable force. It does so by discussing find- ings from long-term qualitative research with a Local Occupy movement somewhere in England and Wales. Using the arguments of social realists, the paper explores this data to examine why things matter sufficiently for young people to care about them and how the emotional force that this involves constitutes an indispensable source of reason in young activists’ decisions to become involved in Local Occupy.

Designing and implementing a blended learning approach to executive SCM education:a case study from Ireland

The National Institute for Transport and Logistics (NITL) is Ireland’s centre of excellence for supply chain management (SCM). As part of its mission to promote the development of supply chain expertise in Irish business, it designs and delivers executive modular learning programmes. In 2004, as part of a drive to create more flexible learning opportunities for course participants, NITL designed and implemented an eLearning programme, which involved converting traditionally tutored modules to online modules. This paper describes the rationale behind this initiative and the significance of technology as an enabling tool for executive education, as well as detailing the design and implementation processes for the pilot module. The paper concludes with a critique of the expected and actual benefits realised, as well as future development considerations.

Strategic planning research:toward a theory-driven agenda

This review incorporates strategic planning research conducted over more than 30 years and ranges from the classical model of strategic planning to recent empirical work on intermediate outcomes, such as the reduction of managers’ position bias and the coordination of subunit activity. Prior reviews have not had the benefit of more socialized perspectives that developed in response to Mintzberg’s critique of planning, including research on planned emergence and strategy-as-practice approaches. To stimulate a resurgence of research interest on strategic planning, this review therefore draws on a diverse body of theory beyond the rational design and contingency approaches that characterized research in this domain until the mid-1990s. We develop a broad conceptualization of strategic planning and identify future research opportunities for improving our understanding of how strategic planning influences organizational outcomes. Our framework incorporates the role of strategic planning practitioners; the underlying routines, norms, and procedures of strategic planning (practices); and the concrete activities of planners (praxis).

Cutting the Gordian knot [?]:a response to Lukka and Vinnari (2014)

Purpose – The purpose of this paper is to constructively discuss the meaning and nature of (theoretical) contribution in accounting research, as represented by Lukka and Vinnari (2014) (hereafter referred to as LV). The authors aim is to further encourage debate on what constitutes management accounting theory (or theories) and how to modestly clarify contributions to the extant literature. Design/methodology/approach – The approach the authors take can be seen as (a)n interdisciplinary literature sourced analysis and critique of the movement’s positioning and trajectory” (Parker and Guthrie, 2014, p. 1218). The paper also draws upon and synthesizes the present authors and other’s contributions to accounting research using actor network theory. Findings – While a distinction between domain and methods theories … may appear analytically viable, it may be virtually impossible to separate them in practice. In line with Armstrong (2008), the authors cast a measure of doubt on the quest to significantly extend theoretical contributions from accounting research. Research limitations/implications – Rather than making (apparently) grandiose claims about (theoretical) contributions from individual studies, the authors suggest making more modest claims from the research. The authors try to provide a more appropriate and realistic approach to the appreciation of research contributions. Originality/value – The authors contribute to the debate on how theoretical contributions can be made in the accounting literature by constructively debating some views that have recently been outlined by LV. The aim is to provide some perspective on the usefulness of the criteria suggested by these authors. The authors also suggest and highlight (alternative) ways in which contributions might be discerned and clarified.

Redefining economic reason

Despite of Martin Heidegger’s warning not modern technology but modern economizing destroys the Being. With its exclusive focus on profit-making modern economizing endangers the integrity and diversity of natural ecosystems, autonomy and culture of local communities, and chances of future generations for a decent life. This paper gives a critique of the profit principle and redefines economic rationality in a more holistic, substantive and humanistic form.

Deconstructing the Religious Archive and its Secular Component and its Relationship to Violence

The thesis argues for the inclusion of the study of religion within the public school curriculum. It argues that the whole division between “religious” and “secular” spaces and institutions is itself rooted in a specific religious tradition. Using the theories of Jacques Derrida, I argue that, unless the present process of globalization is tempered with alternative models of organizing that don’t include this secular/sacred division, the very process of Western globalization acts as a moral religion. Derrida calls this process “globalatinization,” the imposition of Western defined institutions upon other cultures. The process creates a type of religious violence through act of imposing notions of “secular/public” and “sacred/private.” Drawing from Mark Juergensmeyer’s theory of religious violence, and Derrida’s and Foucault’s understanding of discursive formations, I argue that religious studies should enter this “secular/public” space in the form of educating about the world’s religions. Such education would go a long way in preventing the demonization of the “other” through promoting empathy, understanding, and respect for “other” traditions. Finally, education would provide a needed self-critique of the dividing of “secular/sacred” in contemporary Western life.

Menu Analysis: Review and Evaluation

In the article - Menu Analysis: Review and Evaluation - by Lendal H. Kotschevar, Distinguished Professor School of Hospitality Management, Florida International University, Kotschevar’s initial statement reads: “Various methods are used to evaluate menus. Some have quite different approaches and give different information. Even those using quite similar methods vary in the information they give. The author attempts to describe the most frequently used methods and to indicate their value. A correlation calculation is made to see how well certain of these methods agree in the information they give.” There is more than one way to look at the word menu. The culinary selections decided upon by the head chef or owner of a restaurant, which ultimately define the type of restaurant is one way. The physical outline of the food, which a patron actually holds in his or her hand, is another. These descriptions are most common to the word, menu. The author primarily concentrates on the latter description, and uses the act of counting the number of items sold on a menu to measure the popularity of any particular item. This, along with a formula, allows Kotschevar to arrive at a specific value per item. Menu analysis would appear a difficult subject to broach. How does a person approach a menu analysis, how do you qualify and quantify a menu; it seems such a subjective exercise. The author offers methods and outlines on approaching menu analysis from empirical perspectives. “Menus are often examined visually through the evaluation of various factors. It is a subjective method but has the advantage of allowing scrutiny of a wide range of factors which other methods do not,” says Distinguished Professor, Kotschevar. “The method is also highly flexible. Factors can be given a score value and scores summed to give a total for a menu. This allows comparison between menus. If the one making the evaluations knows menu values, it is a good method of judgment,” he further offers. The author wants you to know that assigning values is fundamental to a pragmatic menu analysis; it is how the reviewer keeps score, so to speak. Value merit provides reliable criteria from which to gauge a particular menu item. In the final analysis, menu evaluation provides the mechanism for either keeping or rejecting selected items on a menu. Kotschevar provides at least three different matrix evaluation methods; they are defined as the Miller method, the Smith and Kasavana method, and the Pavesic method. He offers illustrated examples of each via a table format. These are helpful tools since trying to explain the theories behind the tables would be difficult at best. Kotschevar also references examples of analysis methods which aren’t matrix based. The Hayes and Huffman - Goal Value Analysis - is one such method. The author sees no one method better than another, and suggests that combining two or more of the methods to be a benefit.

Yield Management: Where We've Been, Where We Are, Where We're Going

The author describes yield management and the technology used to implement yield management in hotels, issues in usefulness, and legal issues concerning the use of yield management. A look into the future is provided, along with a critique of what further research may be needed in order to raise the level of usefulness of yield management systems in the hotel industry to that found in the airlines.

The Occupy Movement: Two Steps Forward, One Step Back

The op-ed evaluates the successes and limitations of the Occupy Movement in the United States. Ronald W. Cox argues that the Movement was inspirational in directing media focus to the trends of growing inequality and the privileges and power of the one percent. The critique of establishment parties and progressive organizations was a key part of the Occupiers efforts to rethink the meaning of social change. The limitations of the Movement became evident, however, in its extremely decentralized structures that emphasized consensus over majoritarian decision-making, and in its refusal to acknowledge and hold accountable its own leaders.

Utopia, A Must: A Review Essay on Benjamin Kunkel’s Utopia or Bust

Utopia or Bust, more than many foundational alternatives, forcefully though with non-sectarian wisdom, re-implants the notion of utopia to the front-of-the-line of Left theory (whether economic, geographic, political, social, and/or cultural). Kunkel's introductory survey reminds us through Harvey, among others, that “Utopia exists and that other systems, other spaces, are still possible."

A compaixão como fundamentação moral em Schopenhauer

The scope of this study was to investigate to what extent the feeling of compassion is important for the moral reasons. Thus, we will build on the analysis of moral reasoning of the philosopher Arthur Schopenhauer, in his essay “On The Basis of Morality”, who was a supporter of the feeling of compassion in their ethical reasoning. In order to deepen the discussion on the dichotomy of the human being, that the split between reason and sensibility in the moral field, also investigate Schopenhauer's criticism of the Kantian moral, which is fundamentally rational. We believe that analyzing both its moral foundation, as his critique of Kantian morality, we can understand the true import of the feeling of compassion in the moral field. Thus, we believe that one must take into account the value of this feeling on ethical grounds. As proposed will try an approach with regard to reason and sensitivity in the moral field.