On the Capital Structure of Real Estate Firms

The leverage and debt maturity choices of real estate companies are interdependent, and are not made separately as is often assumed in the literature. We use three-stage least squares (3SLS) regression analysis to explore this interdependence for a sample of listed U.S. real estate companies and Real Estate Investment Trusts (REITs) traded between 1973 and 2006.We find substantial differences in the nature of the relationship between leverage and maturity for the two firm types. Leverage is a determinant of maturity for non-REITs, whereas maturity is a determinant of leverage for REITs. We also find that the drivers of capital structure choices in real estate companies and REITs clearly reflect the effects of the REIT regulation.

Coevolução e as práticas isomórficas de gestão: um estudo sobre os processos de mudanças institucionais no Instituto Federal de Educação, Ciência e Tecnologia do RN

The Federal Institution for Education, Science and Technology, in its historical path, has been living different changes. The transformations occurred along the way have been determined by coercive forces from the institutional environment, which has became more and more broad and complex throughout the time, obtaining diverse characteristics and new elements such as non institutional factors1 which started to contribute with the other changes. In this context, this work aims to study the isomorphic practices of the managers in the institutional changes process of the IFRN in 1998 and 2008, as of a theoretical coevolutionary perspective (CHILD; RODRIGUES; LEWIN; CARROL; VOLBERDA, 2003). This theory brings a new point of view for the organization analysis to the organizational studies, since it offers a non deterministic and non linear lection of the evolution process, which means, a coevolution. Thus, the organizations and their institutional and non institutional environment auto evolve, auto organize and auto reproduce. Therefore, the institutional and non institutional factors of the macro environment keep a continuous interdependence relationship with the organizations. For the means of this study, it is important to understand that is impossible to comprehend the object, the isomorphic practices, without considering that the previous institutional changes and its evolutions, its continuations and discontinuations, important in the coevolution process. As such, to call upon the institutional historical track is a fundamental aspect to materialize this study, for the recursive movement is indeed present in the coevolution. Another important point to make this research effective is that it is not possible to abdicate from the hologramatic view2 of this study, which considers the object, the isomorphic practices, part of the whole and this whole is also in the parts, therefore it is impossible to comprehend the object of study outside the context where it belongs. With this, as of the objective previously proposed, it is necessary to describe the characteristics of coevolution of the institutional changes related in 1998 and 2008; analyze the dynamic of the isomorphic mechanisms in its respective institutional change process; and describe the lessons learned which the isomorphic practices left to the IFRN, regarding its benefits and difficulties. All these transformations happened through coercive forces3 of the institutional environment. As of the Nineties, these forces became stronger, the environment became broader and more complex, with the emergency of new environmental factors. This study proposed to study the managing process and its practices, related to the micro environment, although it is required to articulate these actions, the demands and requirements from the macro environment. To make this research effective, semi structured interviews have been conducted with the managers who participated in both institutional change processes. In the results analysis, it has been possible to verify the particularity of each change, the one from 1998 with a strong normative action of the managers against coercive forces from the government for the search of recognition and the institutional legitimation and the one in 2008, which has been characterized by the normative action by managers in agreement with the coercive forces from the government, in favor of the government policy for the technological professional education. However, the results analysis it is possible to notice the evidence of a belonging feeling from the interviewed managers

Die Interdependenz zwischen Europa und seinen Energielieferländern im historischen Kontext

von Alexander Smith

Indicações para o projeto arquitetônico de edifícios multifamiliares: uma análise pósocupação em Natal/RN

Confirming the Brazilian tendency in the field, the multifamily vertical condominium habitats in Natal are defined as buildings with three or more floors which have been an increasingly used solution. In the mentioned project, the connection between the projectarchitects and the user/ buyers are spread out, by which the first people conceive the realestate property as a creation for the market and not the individual client in specific. Such situation along with technical and financial limitations of the project lead to the adoption of standard solutions to be utilized by clients with different profiles. Besides that, there are various legal and urban parameters by the City Director Plan showing elements of great influence in the final solution adopted by the mentioned edifices. Moving to this subject in general, this project is focused on the case study of the Ed. Ville de Montpellier, having as a base of Post Occupancy Evaluation (POE), considered an efficient tool to analyze and keep up with the progress of the construction of the building, including technical approvals, the application of surveys with the local residents and the creation of informal interviews. The data shows that with time some items that initially motivated the acquisition of the realestate property (with a social common area) move to being less valued, and that the residents quickly alter the pre constructed space, thus seeking to alter the property in a more personal and conforming manner. The possibility of a new emphasis for projects on the mentioned space should also be in discussion, the created project calls for the attention of projected conceptual aspects and interdependence within project and construction which permits the indication of some recommendations for the projection of multifamily residential buildings within the studied realm

Análise do contágio nos principais índices bolsistas europeu e norte-americano

Mestrado em Controlo de Gestão e dos Negócios

O ouro branco abre caminho: o algodão e a modernização do espaço urbano da Cidade da Parahyba (1850-1924)

The present research deals with the modernization process of the Cidade da Parahyba2, between 1850 and 1924, and its relation with the cotton economy, which represented the main source of wealth accumulation for both the private and the public sectors throughout the First Republic. This study on urban history was developed by focusing on the understanding of the city s spatial formation, and despite its emphasis on the economic aspects involved, other factors that also contribute to the development of the social life were not put aside. The modernization process of the Cidade da Parahyba was also analyzed during the period established for the study according to a chronological and thematic approach that established comparisons with the financial situation of the State, whenever this was necessary, with special attention to the contribution of the cotton economy to the State´s revenues. It was possible to detect a lack of financial help and loans from the federal and municipal administrations for finishing several public works already underway in the capital, since the federal funds allocated to the State of Parahyba do Norte were rather employed in emergency works against droughts and in agricultural development. One can then conclude that the financial resources required for the urban interventions were withdrawn from the State s treasury itself, resources that were collected mainly from activities such as cotton exportation and cotton trading. Another factor shows the interdependence between the urban remodeling and the cotton economy: during the years marked by great droughts or by hard plagues on the cotton plantations, cotton production decreased, as well as the State s finances. The first measures taken by the State s administrators were to halt all projects of urban remodeling in progress in the Cidade da Parahyba, which was, clearly, the most privileged city by the State s presidents during the period analyzed. 2 The city of João Pessoa was named Cidade da Parahyba, a designation that remained until September 1930, when it received its present-day name in order to pay homage to the president of the State, João Pessoa Cavalcanti de Albuquerque, murdered in the city of Recife in August of that same year. At that time, the State of Paraíba was known as Parahyba do Norte. Since this work is limited to a period of time comprised within the First Republic, the names employed respect the terms used in those days

A Importância da afetividade na construção da relação pedagógica e no processo de ensino-aprendizagem

Relatório de Estágio apresentado à Escola Superior de Educação de Paula Frassinetti para obtenção de grau de Mestre em Educação Pré-Escolar e Ensino do 1º Ciclo do Ensino Básico

Paths to peace: conflict management trajectories in militarized interstate disputes

When multiple third-parties (states, coalitions, and international organizations) intervene in the same conflict, do their efforts inform one another? Anecdotal evidence suggests such a possibility, but research to date has not attempted to model this interdependence directly. The current project breaks with that tradition. In particular, it proposes three competing explanations of how previous intervention efforts affect current intervention decisions: a cost model (and a variant on it, a limited commitments model), a learning model, and a random model. After using a series of Markov transition (regime-switching) models to evaluate conflict management behavior within militarized interstate disputes in the 1946-2001 period, this study concludes that third-party intervention efforts inform one another. More specifically, third-parties examine previous efforts and balance their desire to manage conflict with their need to minimize intervention costs (the cost and limited commitments models). As a result, third-parties intervene regularly using verbal pleas and mediation, but rely significantly less frequently on legal, administrative, or peace operations strategies. This empirical threshold to the intervention costs that third-parties are willing to bear has strong theoretical foundations and holds across different time periods and third-party actors. Furthermore, the analysis indicates that the first third-party to intervene in a conflict is most likely to use a strategy designed to help the disputants work toward a resolution of their dispute. After this initial intervention, the level of third-party involvement declines and often devolves into a series of verbal pleas for peace. Such findings cumulatively suggest that disputants hold the key to effective conflict management. If the disputants adopt and maintain an extreme bargaining position or fail to encourage third-parties to accept greater intervention costs, their dispute will receive little more than verbal pleas for negotiations and peace.

Platform management and early supplier involvement in NPD

Platform strategies reflect a firm’s technology policy towards its new product development (NPD) activities. Depending on the technological complexities embedded in the platform, certain degree of interdependence is created between the firm and its suppliers. Firms may decide to what extent the suppliers should be involved in its NPD activities. There has been an increasing interest with issues related to supplier involvement in NPD. Involving suppliers early in NPD can help firms reduce costs, reduce concept-to-customer development time, improve quality, and provide innovative technologies. However, it requires a great effort and many tradeoffs need to be considered. This paper discusses the implications of early supplier involvement in new product development, specifically regarding to sourcing decisions and NPD processes when new components are designed and incorporated into the new platform. We would like to understand to what extent the NPD collaborates with suppliers, and at which stage of the NPD process suppliers are invited to participate in platform designs. A case study of Oticon, a Danish manufacturer of hearing aids, is presented. We describe how the successful introduction of a new platform of hearing aids is realized as well as how and when Oticon’s suppliers were involved during this process.

Cidadania e participação - uma proposta de análise das competências de tomada de decisão das crianças na escola

Comunicação apresentada no V Encontro do CIED – Escola e Comunidade, nos dias 18 e 19 de novembro de 2011, na Escola Superior de Educação de Lisboa, Instituto Politécnico de Lisboa, organizado pelo CIED, com o apoio da Escola Superior de Educação de Lisboa. Atas do V Encontro do CIED – Escola e Comunidade publicadas em junho de 2012 por CIED - Centro de Interdisciplinar de Estudos Educacionais.

Coevolução e as práticas isomórficas de gestão: um estudo sobre os processos de mudanças institucionais no Instituto Federal de Educação, Ciência e Tecnologia do RN

The Federal Institution for Education, Science and Technology, in its historical path, has been living different changes. The transformations occurred along the way have been determined by coercive forces from the institutional environment, which has became more and more broad and complex throughout the time, obtaining diverse characteristics and new elements such as non institutional factors1 which started to contribute with the other changes. In this context, this work aims to study the isomorphic practices of the managers in the institutional changes process of the IFRN in 1998 and 2008, as of a theoretical coevolutionary perspective (CHILD; RODRIGUES; LEWIN; CARROL; VOLBERDA, 2003). This theory brings a new point of view for the organization analysis to the organizational studies, since it offers a non deterministic and non linear lection of the evolution process, which means, a coevolution. Thus, the organizations and their institutional and non institutional environment auto evolve, auto organize and auto reproduce. Therefore, the institutional and non institutional factors of the macro environment keep a continuous interdependence relationship with the organizations. For the means of this study, it is important to understand that is impossible to comprehend the object, the isomorphic practices, without considering that the previous institutional changes and its evolutions, its continuations and discontinuations, important in the coevolution process. As such, to call upon the institutional historical track is a fundamental aspect to materialize this study, for the recursive movement is indeed present in the coevolution. Another important point to make this research effective is that it is not possible to abdicate from the hologramatic view2 of this study, which considers the object, the isomorphic practices, part of the whole and this whole is also in the parts, therefore it is impossible to comprehend the object of study outside the context where it belongs. With this, as of the objective previously proposed, it is necessary to describe the characteristics of coevolution of the institutional changes related in 1998 and 2008; analyze the dynamic of the isomorphic mechanisms in its respective institutional change process; and describe the lessons learned which the isomorphic practices left to the IFRN, regarding its benefits and difficulties. All these transformations happened through coercive forces3 of the institutional environment. As of the Nineties, these forces became stronger, the environment became broader and more complex, with the emergency of new environmental factors. This study proposed to study the managing process and its practices, related to the micro environment, although it is required to articulate these actions, the demands and requirements from the macro environment. To make this research effective, semi structured interviews have been conducted with the managers who participated in both institutional change processes. In the results analysis, it has been possible to verify the particularity of each change, the one from 1998 with a strong normative action of the managers against coercive forces from the government for the search of recognition and the institutional legitimation and the one in 2008, which has been characterized by the normative action by managers in agreement with the coercive forces from the government, in favor of the government policy for the technological professional education. However, the results analysis it is possible to notice the evidence of a belonging feeling from the interviewed managers

Obligation des États de coopérer en droit international des cours d’eau transfrontaliers : état du droit et étude du cas Chinois

Le principe de coopération est considéré depuis longtemps comme l’une des pierres angulaires du droit international, toutefois, l’existence d’une obligation de coopérer en droit international reste encore controversée. Les ressources en eau, à cause de leur fluidité et de leurs multiples usages, démontrent toujours l’interdépendance humaine. En matière de cours d’eau transfrontaliers, la Convention de New York inclut explicitement dans son texte l’obligation générale de coopérer comme l’un de ses trois principes fondamentaux. Il nous incombe alors de voir quelle obligation de coopérer les États souverains s’imposent dans leurs pratiques ? Pour répondre à cette question, nous procédons tout d’abord à une étude positiviste du contenu normatif de l’obligation de coopérer. Nous constatons que l’incorporation de la notion de l’obligation de coopérer dans le principe de la souveraineté est une tendance manifeste du droit international qui a évolué du droit de coexistence composé principalement des règles d’abstention, au droit de coopération qui comporte essentiellement des obligations positives de facere, dont la plus représentative est l’obligation de coopérer. Néanmoins, il n’existe pas de modèle unique d’application pour tous les États, chaque bassin disposant de son propre régime coopératif. Pour mesurer l’ampleur des régimes coopératifs, nous étudions cinq paramètres : le champ d’application, les règles substantielles, les règles procédurales, les arrangements institutionnels et le règlement des différends. Quatres modèles de coopération ressortent : le mécanisme consultatif (l’Indus), le mécanisme communicateur (le Mékong), le mécanisme de coordination (le Rhin) et le mécanisme d’action conjointe (le fleuve Sénégal). Pour ce qui est de la Chine, il s’agit de l’État d’amont en voie de développement le plus important dans le monde qui a longtemps été critiqué pour son approche unilatérale dans le développement des eaux transfrontières. Nous ne pouvons pas cependant passer sous silence les pratiques de coopération qu’elle a développées avec ses voisins. Quelle est son interprétation de cette obligation générale de coopérer ? Notre étude des pratiques de la Chine nous aide, en prenant du recul, à mieux comprendre tous les aspects de cette obligation de coopérer en droit international. Afin d’expliquer les raisons qui se cachent derrière son choix de mode de coopération, nous introduisons une analyse constructiviste qui est plus explicative que descriptive. Nous soutenons que ce sont les identités de la Chine qui ont déterminé son choix de coopération en matière de cours d’eau transfrontaliers. Notre étude en vient à la conclusion que même s’il y a des règles généralement reconnues, l’obligation de coopérer reste une règle émergente en droit international coutumier. Ses modes d’application sont en réalité une construction sociale qui évolue et qui peut varier énormément selon les facteurs culturels, historiques ou économiques des États riverains, en d’autres mots, selon les identités de ces États. La Chine est un État d’amont en voie de développement qui continue à insister sur le principe de la souveraineté. Par conséquent, elle opte pour son propre mécanisme consultatif de coopération pour l’utilisation des ressources en eau transfrontalières. Néanmoins, avec l’évolution de ses identités en tant que superpuissance émergente, nous pouvons probablement espérer qu’au lieu de rechercher un pouvoir hégémonique et d’appliquer une stratégie unilatérale sur l’utilisation des ressources en eau transfrontalières, la Chine adoptera une stratégie plus coopérative et plus participative dans l’avenir.

INTERGENERATIONAL SUPPORT AND WELL-BEING OF OLDER ADULTS IN CHANGING FAMILY CONTEXTS

This dissertation consists of three papers that examine the complexities in upward intergenerational support and adult children’s influence on older adults’ health in changing family contexts of America and China. The prevalence of “gray divorce/repartnering ” in later life after age 55 is on the rise in the United States, yet little is known about its effect on intergenerational support. The first paper uses the life course perspective to examine whether gray divorce and repartnering affect support from biological and stepchildren differently than early divorce and repartnering, and how patterns differ by parents’ gender. Massive internal migration in China has led to increased geographic distance between adult children and aging parents, which may have consequences for old age support received by parents. This topic has yet to be thoroughly explored in China, as most studies of intergenerational support to older parents have focused on the role of coresident children or have not considered the interdependence of multiple parent-child dyads in the family. The second paper adopts the within-family differences approach to assess the influence of non-coresident children’s relative living proximity to parents compared to that of their siblings on their provision of support to parents in rural and urban Chinese families. The study also examines how patterns of the impact are moderated by parents’ living arrangement, non-coresident children’s gender, and parents’ provision of support to children. Taking a multigenerational network perspective, the third paper questions if and how adult children’s socioeconomic status (SES) influences older parents’ health in China. It further examines whether health benefits brought by adult children’s socioeconomic attainment are larger for older adults with lower SES and whether one of the mechanisms through which adult children’s SES affects older parents’ health is by changing their health behaviors. These questions are highly relevant in contemporary China, where adult children have experienced substantial gains in SES and play a central role in old age support for parents. In sum, these three papers take the life course, the within-family differences, and the multigenerational network perspective to address the complexities in intergenerational support and older adults’ health in diverse family contexts.

A inserção internacional dos governos não centrais brasileiros e argentinos em perspectiva comparada

Dissertação (mestrado)—Universidade de Brasília, Instituto de Relações Internacionais, Programa de Pós-Graduação em Relações Internacionais, 2015.

A inserção internacional dos governos não centrais brasileiros e argentinos em perspectiva comparada

Dissertação (mestrado)—Universidade de Brasília, Instituto de Relações Internacionais, Programa de Pós-Graduação em Relações Internacionais, 2015.